- A group of five made a decision to save together and purchase their first investment property
- The idea was birthed by a young man called Najee Hannigan who was able to convince his two cousins and 2 friends to join him
- They each saved $50 (Ghc300) every week or $200 (Ghc1,216) per month for two years
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A young man has been able to convince his friends to join hands to achieve a goal that would have taken one person many years to accomplish.
A recent publication by totalnews.24h.com shared that a 26-year-old man known as Najee Hannigan had an idea to join forces with his two cousins and friends to save together to purchase an investment property.
Najee spoke to his cousins, Meqai Herder and Ahmid Hill and they agreed to partake in the plan, same as his two friends Tyree Harvey and Darius Jacobs.
The target was to each save $50 (Ghc304) per week or $200 (Ghc1,216) every month.
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The group of five stayed committed and saved consistently for two years until they could afford the rental property, totalnews.24h.com reported.
Najee shared that he managed to convince his friend and cousins by letting them know that whether or not they decide to save up their monies together, two years will surely come.
The group plan to renovate their purchased property and rent it out.
YEN.com.gh earlier reported that Accra, the capital city of Ghana has been ranked as the second city in the world with the least affordable apartments and the second most expensive city in the world when it comes to property price to income ratio.
The report shared that Accra beat cities like Paris, Moscow, Hong Kong and Shenzhen among other top cities in the world. The price to income ratio is a measure of the affordability of apartments in a given city, Numbeo shared.
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Accra was also ranked by Numbeo as the city with the highest mortgage as a percentage of income.
According to Numbeo, a mortgage as a percentage of income is a ratio of the actual monthly cost of the mortgage to take-home family income, and a lower ratio is better.
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