A real estate entrepreneur and investor, Tade Cash, has said that real estate can unlock a path to great wealth for Nigerians.
Cash, who is the Chief Executive Officer of Wealth Island Properties Africa, advised people who were battling with unemployment, to look inwards and think of whatever value they could create and get paid for it.
Speaking on his vision for his company, he told Society Plus, “We are creating a system for people to be able to use real estate to fund the kind of lifestyle that they want and deserve. I am talking about something that can help people to live well and take care of their responsibilities.
“My goal is to be a force for good that will reengineer how real estate business is done in Africa. We are currently present in six African countries, but we want to be in 30 more.”
Speaking about how the yawning housing deficit in the country can be bridged, the entrepreneur said, “Bridging the housing deficit requires different approaches. We need to rethink the way we conceive houses to how they are built. Our emphasis needs to be on functionality. Our financing process needs to be revisited as well.”
Advising young entrepreneurs on how to scale up their business, he said, “You can start small, but don’t think small. Smallness is good when you are just starting, but it could also be one of the hindrances for scaling the business.”
Recalling his days of humble beginnings and how it has shaped his outlook, Cash said, “I was raised in one room with five other siblings. But, my father was so generous that he went to the village and brought a cousin to come stay with us.
“I never knew what it meant to live in room and parlour. But, as I grew older, I discovered that where one lives determines how one lives.
“Real estate is not just about where one lives. It can also be one of the best vehicles for funding one’s lifestyle. And, that is what actually drives me to do what I do.”
Cash, whose company has properties such as The Fields and Monument Park in Epe, and PG Estate in Ikotun, both in Lagos, noted that he is referred to as ‘King of Cash Flow’ because his business model emphasises cash flow. “Without cash flow, there is no business,” he said.
The businessman added that one of the surest tools for building financial defense was real estate, stating that the moment one knew how to use it, one would be able to build a lifestyle and legacy, using that vehicle.”
On how owning properties can be made more accessible for people, Cash said, “The buy, build and pay later project was created because of the previous challenges we had. We discovered that people want to build their own houses, but many of them don’t have the cash flow required to do that. So, we decided to make it flow in a manner that they can make part-payment and start building, while they pay later. That is not how it generally work in the industry, but it is good for the end users. It is also a form of alternative financing without side effects. I believe that if more people can do that, it will have a positive impact on the industry.”