I started thinking about how to make it possible for Nigerians to invest in US Dollar opportunities as far back as 2014. Around this time four years ago, in this post, I talked about the difficulties Nigeria’s economy was going to face and how Nigerians should find ways to convert their money and invest in dollar denominated assets. I came to realize from my research at that time that there just weren’t that many places for someone in Nigeria to invest in dollars and earn a decent return. Domiciliary accounts don’t produce returns, and sometimes, with the country’s forex situation, even getting your own dollars from them is tough. Because of my background in finance, I knew that there were many investment opportunities around the world, especially in the US where I’ve lived in the last 7 years. But I just couldn’t find an easy, transparent and feasible way to connect the people in Nigeria to those opportunities.
My first step in trying to crack that puzzle led me to team up with my friend Timi, and everyone’s favorite developer, Ire. Both of them are programming ninjas, and I’m a bit of a finance nut so, together, we created what is unarguably the best cryptocurrency exchange in Africa today, Buycoins. If you’re in Nigeria and you’re buying or holding cryptocurrency anywhere else, well, I feel a little bad for you. Get the app, like, ASAP. With Buycoins, we crossed the first step of the hurdle, getting in and out of naira to other currencies and getting access to non-correlated returns. Today tons of people are using cryptocurrencies in many exciting ways from within Nigeria, and the rest of the Buycoins team continue to make the platform the best possible place to transact crypto related business of all kinds and connect to the global financial revolution being enabled through crypto.
However, one thing that was missing for me was something that offered dollar returns that were great, predictable and consistent. I had a pretty good idea how to go about it, but it was impossible to do from within Buycoins. And so, after a lot of conversations, we agreed to part ways so I can fully focus on this. And today, I’m happy to announce my new project, Cashestate, a platform that allows you to invest your naira into US Dollar denominated assets and earn decent, consistent dollar returns, right from Nigeria.
What Cashestate offers is simple: you sign up invest your funds in naira, we convert it and deploy it in dollars and you can track your investments, generate decent returns and pay annual or semi-annual dividends, in US dollars. How? Sign up on our platform and pick a monthly, quarterly or one time investment plan. Link your Nigerian bank account or card, enter the amount you want to fund and your naira gets withdrawn and the US dollar equivalent is posted to your dashboard.
That’s where the fun begins.
We invest your funds into carefully selected real estate properties across the US that are selected for high capital gains as well as strong rental cashflow. The combined returns from both cashflow and capital appreciation are going to be around 10% a year based on our most conservative projections. And over time, if you reinvest your returns, you’re going to make much higher than that once the compounding kicks in.
We-my team and I-have tested out our value proposition with several deals over the past two years. And we have the benefits of not just my financial expertise, but also the years (in some cases decades) of experience in real estate from members of my team at companies ranging from Berkshire Hathaway Homes to U.S National mortgage company, Fannie Mae. The real estate business is easy to understand, maybe even boring. But there is nothing boring about the way we are doing it. We are not only using technology to give access to Nigerians to healthy returns in a stable industry in the U.S. market, but we are also using technology to streamline the process of sourcing, purchasing and managing our portfolio so that we can find the best deals wherever they happen to be. We are also linking a lot of previously disconnected markets in a way that makes us confident we will continue to generate strong and improving returns over time, better than the competition, and certainly better than most investment options available within Nigeria. We also use technology to simplify the process of buying and tracking your assets through our personalized dashboard. We’ve really streamlined the entire process, and put you in the driver’s seat and we will continue to improve it further to give you a better experience over time.
Finally, we publish educative articles and blog posts designed to explain our investment process, different asset classes and where we see the different markets going over the long term so that you as an investor and individual can learn how investing works and make the best long term decisions with your investments. For inst
Do check us out at mycashestate.com and join our wait-list to get notified once we launch our product publicly. We’ll be sending out a lot more information over the coming weeks and inviting a small number of people from the wait-list to get early access.
As always, we are here to find all the ways through which we can help you build a better financial life. We’re just getting started, and we look forward to our journey with you.