Mwalimu Rachel: How I built my four houses

While most people dream of owning their houses or apartments to stop paying rent, others strive to build houses for rental purposes. On her blog on Wednesday, Comedian and Radio presenter Mwalimu Rachel explained how she managed to build four housing units and shared tips on personal financial growth.

To build her first two houses, Rachel said she had to top up her car loan and erect the other two units with the rent money coming, plus her savings and side hustle money. During this period, Rachel explained that her salary and side hustle money were paying off the loan.

But that’s not all. Rachel calls for discipline when it comes to money, saying all the cash she collects for rent goes into a Sacco. “I do not touch that rent at all. Discipline,” says Rachel.

“I then got another loan from the Sacco to upgrade my car. Now, the initial car loan that I had topped up to build the units is being serviced by my salary (which bear in mind has also increased with time), and my current Sacco loan is being serviced by my four houses,” says Rachel, who then takes a swipe at the current education system, saying students should be taught about studying and understanding money instead of algebra.

Rachel encourages youth to start saving and investing early, saying, “10 years from today you will thank yourself for doing these things that don’t make sense to many people.”

But success takes time, and despite achieving her goals through help from family, friends, mentors and her investors, Rachel says staying “humble and minding your business” helps draw such people in your circle.

“I’m sharing this to show you it takes time and patience and failing, and trying again, and not quitting. I recognize the fact that I didn’t do it on my own,” said Rachel.

In addition to the encouraging message, Rachel shared tips on personal financial growth based on her experience, from when she was an intern to where she is now.

To begin with, Rachel calls for aligning with your purpose, saying, “Whatever sets your soul on fire, do that. This requires courage and heart to pursue.” She advises one not to be aggressive but rather to have a relentless attitude and obsess on your goals.

Rachel then advises studying and learning how people in a similar position make money, adding that it requires discipline, humility, patience, and stillness, which will in turn yield fruits.

“A mentor might appear and take you under their wing. Continue learning! Stay disciplined. Many fall by the way side here because small money confuses and excites them. Focus and remind yourself of your vision,” says Rachel.

Once you start making money, Rachel urges one to be wise by managing their lifestyles and money, adding that saving is a good option if you don’t have any plans for the money. She even encourages one to take up a financial literacy class and learn how money works.

Rachel says, “I took up Centonomy 101 – Personal Financial Freedom and this is where my life changed. What you are essentially doing by taking these classes is opening yourself up to the big leagues.”

Success sometimes means being a risk taker, and since knowledge is power, Rachel says one should use the information they have acquired and do something such as buying shares or government bonds.

“You will win some and lose some but the lessons acquired are FOREVER so you don’t really lose. You gain,” says Rachel.

“Not all debt, is bad debt,” says Rachel while explaining how she bought her first car, A Toyota RunX, which she bought using a loan and part of her savings.

Rachel agrees that a car is a liability but counters by saying that time is money.

“I spend less time fighting to catch matatus and being in the jam and more time attending meetings so that I am in the rooms where business is discussed and money is made, then that car that facilitated that to happen, becomes an asset,” says Rachel.

Having one source of income is never enough, and thus, multiple streams of revenue are necessary. Rachel says following the right people and properly utilising social media could open up one’s mind on how to make more money.

But after all is said and done, Rachel says one needs to rest and go for a vacation to clear off the mind.

“Go for nice holidays, shopping, go to entertainment spots, whatever makes you happy and helps you relax and have fun. The goal is to enjoy the journey, not be miserable and a slave to it.”