Culture

Five Friends Agreed to Save $50 a Week for Two Years, Just Purchased Their First Investment Property

Five Friends Agreed to Save $50 a Week for Two Years, Just Purchased Their First Investment Property

"If you want to go fast, go alone. If you want to go far, go together."

This African proverb resonated with Philadelphia resident Najee Hannigan as he was thinking of a way to change not only his life, but the lives of his closest friends and family.  

In 2017, the 26-year-old devised a plan for his two younger cousins, Meqai Herder, 23, and Ahmid Hill, 23, along with his long time friends, Tyree Harvey, 26, and Darius Jacobs, 26, to save and pool their money together to purchase an investment property.

“The most challenging part was getting them to understand that time is going to pass regardless, we can invest in [ourselves] or continue to let time pass us by,” Hannigan told Because of Them We Can.

As a group they decided that the investment in their future was worth the sacrifice and focus. For two years they each saved $200 a month and in June 2019 they closed on their first property. 

“We plan on rehabbing this property and renting it out,” Hannigan said.

With a new asset under their belt, they’ve started a property management company and have plans to acquire more properties in the new future.

Hannigan says that while his partners couldn’t see his plan at first, they believed in him as he had just opened a daycare and was getting into the entrepreneur mindset. He believes trust is the foundation for others trying to replicate their plan.

“Find people you trust and never give up. Don’t argue about dumb stuff and always think of the bigger picture. Giving up something like cable or clothes for a year or two can put you in a position to have it [for] a lifetime.”

As for what kept them focused, Hannigan said it was knowing what their outcome would be if they quit.

“We knew that if we gave up at any point that we would end up like everyone else, stuck…”

Not only are they not stuck, but their new endeavor and mindset has undoubtedly changed the trajectory of their lives forever.

This is friendship goals! Congratulations gentlemen!