Kenya’s real estate sector has produced many successful entrepreneurs, and real estate investor Wambui Gaitha is top of the cream.
She currently serves as the Chief Executive Officer and founder of Regal Africa Group, a Nairobi-based firm involved in real estate services, investment advisory, wealth management support.
In a recent interview on Young millionaire talks, Wambui disclosed that she has been in business since 2015, when she started the Regal Africa group.
She also revealed that she made her first million while she was still in her 20s.
When asked why she wanted to become an entrepreneur, she stated that that was the only sure path she knew to becoming wealthy. According to her, the majority of wealthy people in the world are entrepreneurs.
She also explained the difference between being rich and being wealthy.
“Being rich means you look like you have money. Wealth, on the other hand, means owning assets, having financial freedom, and having generational wealth,” she said.
Wambui, whose educational repertoire includes an MBA in Finance from Hult International Business School, stated that one of her most useful money lessons is that money comes and goes.
“No risk, no reward. That is the essence of entrepreneurship. If you want to be wealthy, you must have a great plan and make a calculated risk. If you are too conservative, you’ll not go far,” she said.
According to Wambui, one reason some employed people struggle to build wealth is that they remain in the same career positions for a long time and are often unwilling to take financial risks.
She stated that in her opinion, Nairobi is the best place to invest in real estate in Kenya.
She explained that Nairobi has positioned itself as an international city and has a lot of young people, similar to other cities like Dubai, New York, San Francisco, and Los Angeles.
Wambui, who describes herself as a real estate wealth strategist, stated that a good investment strategy for young people is investing in real estate.
“You want to start thinking about acquiring your first property. This means that you need to find a decent apartment in a great location that can generate income for you,” she said, adding that having cashflow is one of the key tenets of being wealthy.
She gave examples of real estate investment projects in Kenya, including developments such as Qwetu which provide housing for university students in major towns such as Nairobi.
She also explained that a person can start with as little as Ksh 50, 000 to Ksh 100,000 and continue buying shares over time.
“I tell young people to start with what they have. Form an investment group of like-minded young people, pool resources, and that’s how you start your investment journey,” she said.
Her best business advice is for entrepreneurs to stay true to their vision and trust the process.
“Nobody said it was going to be smooth or easy. But if you have a great idea and a great plan, eventually you will be successful,” she said.
Wambui also believes that one of the greatest advantages young people have is time.
Her interest in real estate started while she was in her 20s, but she said she was only able to fully pursue some of her real estate goals later in her 30s and 40s.
She therefore encourages young people to remain patient and continue believing in their dreams and goals.
Finally, Wambui said she is a committed Christian and believes that success requires God’s guidance.
“You can have the best plans and put in all the work. But if God does not have your back, everything you do is futile,” she said.