Virtual Seat: It Takes Courage and Resilience to Survive in the Real Estate Business
More and more young people in Kenya are venturing into the real estate business. The promising returns that the real estate yields make them believe it's what will propel them forward. Well, it's often not as simple as it seems but despite all the hurdles, Isaac Mbugua chooses not to back down. From his social media posts, his passion for and knowledge in the industry can be felt. I had him on my virtual seat and this is what he had to say.
Emomeri Maryanne
Who is Isaac Mbugua?
A conscientious real estate consultant. The guy you need when you have questions about real estate. I rejoice in providing sustainable solutions in corporate real estate, property management, valuation and estate agency. Engage me for marketing, managing and selling your real assets. I will wow you with the ability to deliver insights and create solutions. I pursued a degree in Real estate from the University of Nairobi. I am also in the “I went to Alliance” family.
Isaac Displays a Kitchen at Lavington
Have you always wanted to venture into real estate?
Yes, because as Roosevelt said, “Every person who invests in well-selected real estate in a growing section of a prosperous community adopts the surest and safest method of becoming independent, for real estate is the basis of wealth.”
What is the inspiration behind Zone Ace Properties?
The need to do better and distinctively in the real estate industry, in a way that promotes trust and reliability. Often, young people are not trusted when it comes to building something sustainable and profitable, thus the drive and hunger to prove them wrong, to have a writing on the wall that young people CAN AND WILL!
Isaac’s best shot of the Grand premier 3 bed duplex at Lavington. 25M
How did you build Zone Ace to what it is now?
I joined New Age Castles about 6 months after its inception. The then founders were Annette Wambui and David Gachiri. Annette the director gave me a target that I must prove to be resourceful in order to have equal shares. I bought 10 shares at the company. After listing Migaa Estate, Annette elevated my shareholding to 25%, hence each founder had 25% shares and New Age was to retain 25% of the income generated.
Later on, David withdrew from the company to pursue other interests. He is currently a valuer. we were forced to close the company and that is how Annette and I started Zone Ace properties Limited back in September 2021. After 3 months with no sale, we managed to let office space at HH Plaza where we earned a few thousands but the payment differed to September 2022. On new years eve, we sold a 50*100 plot in Malindi in what would be our first land sale deal. Business was not good for the better part of the year till when we met our third Partner Abdel Karim who challenged us to sell one unit within 30 days he would invest in us.
Things were not getting any easier and one week after meeting our new partner I lost my grandfather and I requested Karim to give us two more weeks to allow me to mourn my grandparent. Luckily, we got a studio client and she completed her payment on the eleventh hour. For the small sale, we got a commission and Karim Gave us an office space and furnished it.
A month passed without another sale and we had borrowed to the company to almost nil…we sold a 2-bed apartment and you can tell the joy we all had. Abdel Karim who is the eldest in our team plays the mentor-father role in our team. “ you all need to be confident, don’t act as a coward, take your niche, no we don’t do that, this is how we do it”
How did you meet your partners?
I joined New Age Castles Real Estate since David was a friend and I confronted him for forming a company without engaging me. Annette was hesitant to let me join even though we schooled at UoN and pursued the same degree (Bachelor of Real Estate). I met Karim from my LinkedIn network.
Small and consistent efforts got us to where we are. Putting ourselves out there gave us visibility and got us mentors and people who believed in us and here we are!
Who inspires what you do?
“Look around you. How many people do you think are settling? Probably a hell lot of people. People settle into okay relationships, okay jobs, okay friends, and an okay life. Why? Because okay is comfortable. Okay pays the bills, and provides a warm bed at night. Some people are fine with okay, and guess what? That’s okay. But okay is not thrilling. It isn’t passion, it isn’t life-changing or unforgettable. Okay is not the reason you risk absolutely everything you have got for the smallest chance that something absolutely amazing could happen.” Anonymous.
And of course, my business partners Annette Wambui and Abdelkarim Tageldin. My parents and grandparents for always encouraging me and praying for me even though they barely understand what I am creating. My sister for always wishing me the best in this life, this is despite us being in different fields and having different capabilities.
What makes your brand stand out?
Trust, quality, thoroughness, professionalism and passion.
What are some of the challenges you’ve faced in the sector?
- Older real estate professionals are very demeaning. I have been called a thief by one, once (LOL)
- Sometimes lack of discipline, consistency and commitment can cost you.
What are the creative and innovative ways you have used to navigate the challenges?
- Do it alone. Do it broke. Do it scared. Do it tired. JUST DO IT!
- we created a timetable for our activities and we consistently followed it until it bore results. “we don’t have to be smarter than the rest. We have to be more disciplined than the rest.”- Warren Buffett
Where do you see the real estate industry in the next five years?
“The best time to buy a house is always five years ago.” – Ray Brown
Hence it's quite easy to predict the real estate‘s future: the prices will have escalated, and the industry will have grown tremendously. If the government fulfills its promises, then anybody and anyone can own real estate. We will be talking about a completely different industry from what we have. If you want to buy, the time is now.
What do we currently offer?
Currently, we are selling Turkish Apartments in Kilimani, Kileleshwa and Lavington. This is because they are modern, elegant and spacious. They also come with all modern amenities at a good price.
Contact information
Cell Phone 0703460686-Issac / 0714-222-814 –Annette Wambui
Email. [email protected]
LinkedIn – Isaac Githua https://www.linkedin.com/feed/
Facebook @izzombugus IG – Isaac Githua
If you have a real estate press release or any other information that you would like featured on African Real Estate Blog Post do reach out to us via email at [email protected]
