Segment- Ownership Is Pride, Not Strategy: How You Can Afford Property Without Going Broke.

Summary

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Episode Overview

Title: Ownership Is Pride, Not Strategy: How You Can Afford Property Without Going Broke
Host: Derrick Abaitey
Guests: Rash Asare (land and real estate due diligence expert), Kwesi Otin (luxury homes expert)
Date: December 11, 2025

This episode dives deep into practical, strategic pathways for property ownership in Ghana, debunking the myths of prideful ownership while highlighting cash flow and collaboration as smarter routes to building personal wealth through real estate. Listeners will glean hard-won lessons from real estate veterans who share not only their proven models, but their own pitfalls and comeback stories—targeted at both Ghanaians at home and those in the diaspora keen on affordable investment.

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Key Discussion Points & Insights

1. Mindset & Barriers to Starting (00:00–00:21)

• Rash Asare opens with his personal journey:

  "I've never stepped a foot in Ghana before, got to design phase and bought a house. I lost all my money here...I started from zero and two years later I've made more money in Ghana than I've ever made in this case." (00:00)

• Kwesi Otin:

  "I built a business here and took that business to different African countries." (00:07)

• Barriers:

  "People feel powerless. People don't believe in themselves and they care too much about what other people think of them. That's hard for them to start anything." – Rash Asare (00:13)

2. Reality Check: Who Can Afford Property? (00:21–00:46)

• Income Realities:

  "If you're making 800 cedis a month, you are not part of the game." – Rash Asare (00:25)

• Kwesi Otin challenges the narrative that only high earners can own property.
  He advocates for redefining ownership and using alliances:

  "People are just looking at ownership. Ownership I own. I'm the boss, I'm the chairman. This is for me the reason why a lot of people are not getting to own these homes. ...To afford a $55,000 property, get three friends, five friends that could be able to raise 10,000." (00:28)

3. Start Small, But Strategically: The Rash Asare Model (02:52–04:20)

• Step-by-step:

  • Begin with buying land, not a house.
  • Be realistic about your budget and start where you can afford, even if it's less prime.
  • Build incrementally—start with a simple one-bedroom or "boy's quarters."

• Key Insight:

  "Most of the cost for construction goes in the finishes. So having the actual structure is usually about 30%, 35% of the actual construction cost." – Rash Asare (03:37) "You just have to start small." (04:18)

• Example: Many first-time owners build something basic, then expand or generate income by adding rental units before constructing their main house.

4. The Kwesi Otin Approach: Go for Apartments, Cash Flow and Leverage (04:20–06:27)

• Skip Land Hassles:

  • Favor apartments with solid developer financing (24–36 month payment plans).
  • Secure passive income immediately—less risk, less waiting.
  • Use rental cash flow to later roll into land or more investments.

• Calculations:

  "Buying a land in a very good location is about $8,000...After documentation and registration, about $15,000...then building a nice, simple detached family unit, you're looking at $40,000, bringing you up to $55,000." – Kwesi Otin (04:40)

• Quote:

  "I've had so many diasporan stories... who tried to invest in land and it ended badly. Why not go straight into ownership—get passive income—then reinvest." (05:55) "We've got big companies now doing $55,000 apartments, payable over 36 months. You just need a foot in the room." (07:42, 11:20)

5. Crucial Difference: Ownership is Not (Just) Pride (07:42, 11:20–12:00)

• Kwesi Otin:

  "Not everyone is meant to own a home. Here, ownership is pride...But you should look at property as a business, not an ego move." (07:56)

6. Managing Land Risks: Contracts, Testing, Due Diligence (08:51–10:57)

• Risk Reality:

  • Many buyers are scammed due to lack of information.
  • Solutions: Only deal with reputable companies, demand ironclad, money-back contracts.

• Actionable Tip:

  "Test the land. Try to build a fence, dig a foundation, immediately after a deposit—but not after paying 100%. Any issues will reveal themselves fast." – Rash Asare (10:11, 10:16)

• Personal Story:

  "I did all the due diligence, everything was correct. But once I went to work, someone came and I had to go to court for two years..." (10:16)

7. Unlocking Ownership: Power of Partnerships (11:20–12:00)

• Kwesi Otin:
  • Advocates for pooling resources with friends or like-minded buyers—"3 friends, five friends that could reach $10,000 each"—to collectively afford entry-level properties.

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Notable Quotes & Memorable Moments

• Rash Asare:

  "Risk comes from not knowing." (08:51)
  "I've had clients buy land and start building a house before ever stepping foot in Ghana." (08:51)

• Kwesi Otin:

  "Ownership is not the way - like, I own. I'm the boss, I'm the chairman... But that's not a strategy." (11:21)
  "To afford a $55,000 property, get three friends, five friends that could be able to raise 10,000. Real estate is a business." (00:28, 11:20)

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Timestamps for Key Segments

| Topic | Timestamp | |---------------------------------------------------------|------------| | Rash’s comeback story & biggest barrier to starting | 00:00–00:21 | | The income threshold reality for home buying | 00:25–00:28 | | Ownership: Pride vs. Strategy (Kwesi’s challenge) | 00:28–00:46, 11:20–11:59 | | Rash’s model for starting with land & building small | 02:52–04:20 | | Kwesi’s model: Apartments, passive income, and leverage | 04:20–06:27, 07:42–08:51 | | Managing land risk: contracts and land “testing” | 08:51–10:57 | | Partnerships as accessible path to ownership | 11:20–12:00 |

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Tone and Language

• Practical, unsentimental, “let’s get real” advice.
• Heavy on personal stories and lessons from tough experiences.
• A blend of caution—emphasizing due diligence—with optimism about opportunity for the average Ghanaian or diasporan.
• Encouraging collaboration and strategic thinking over going solo and chasing status.

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Takeaways

• Homeownership is toughest as a solo, pride-filled pursuit—think in terms of business, not personal achievement.
• Strategic partnerships and collective investment are powerful, underused models.
• Both land purchase and apartments have a place—what matters is cash flow, risk management, and starting where you truly can afford.
• Due diligence, contracts, and “testing the land” mitigate Ghana’s notorious risks.

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Best for: Anyone planning to own property in Ghana (or the diaspora), real estate beginners, and those who want real-world strategies beyond surface-level advice.

Transcript

[Rash Asare]

I've happy. Never stepped a foot in Ghana before. Go to design phase and bought a house. I lost all my money here in Ghana. I started from zero and two years later I've made more money in Ghana than I've ever made in this case.

[Kwesi Otin]

I built a business here and took that business to different African countries.

[Derek Abayite]

What do you think is stopping how they look?

[Rash Asare]

People feel powerless. People don't believe in themselves and they care too much about what other people think of them. That's hard for them to start anything.

[Derek Abayite]

The average Ghanaian that wants to own a home, how can they use your model to own a property?

[Rash Asare]

If you're making 800 cedis a month, you are not part of the game.

[Kwesi Otin]

People are just looking at ownership. Ownership I own. I'm the boss, I'm the chairman. This is for me is the reason why a lot of people are not getting to own these homes. Because all you need to afford a $55,000 property to get three friends, five friends that could be able to raise 10,000.

[Rash Asare]

I don't think that would be an average Ghanaian. They are not in that circle yet.

[Kwesi Otin]

I beg to differ. The average Ghanaian. Can people rush?

[Derek Abayite]

I see you have some documents. Can you take us through them?

[Rash Asare]

If you are buying land, they're going to give you.

[Derek Abayite]

Welcome to Connected Minds Podcast. My name is Derek Abayite and I'd like to appreciate you for being part of the family, for being with us from the beginning. And if it's your first time seeing any of our videos, our audios on Spotify or Apple, please stay with us and become part of the family. Subscribe and to the people in our community, the Connected Champions, thank you so much for always making it to the end of this conversation. Everybody wants a piece of Ghana now, whether it's buying a land or building a property. So today's conversation is with giving Rash Asare and Kwesi Otin. Desmond Rash is an expert when it comes to buying the land safely without being scammed. And Cod Kwesi Otin is an expert when it comes to buying luxury homes across Africa. These two experts and business people have already been on this podcast before. Not just in this studio, the other studio, but their experience and what they've been through is the reason why they've shown up again. So let's get deep into what you can do to avoid the scams and how you can also have an affordable property in Ghana. Stick with me. Hello brothers, how are you?

[Kwesi Otin]

I'm doing very well. Very excited to come into the new studio. I Think that connected minds, just like I said in our first interview, is going somewhere. And I'm proud to be on this journey with you guys. That's why when you call me any day, anytime I need to appear and I'm here, I'm doing very well. Good goes to you and the team. Amazing work done.

[Rash Asare]

I'm doing great as well. Impressed with what you've done here. Looks amazing. Yeah. Always happy to be in your studio.

[Derek Abayite]

Yeah, thank you. You know, Cod is actually the one that introduced me to a futurist, Kwame. He's such a lovely man and our man here, Rush has introduced me to a lot of people that have also interviewed on this podcast and several opportunities in real estate. So thank you so much. I hope that today's conversation would help people in the diaspora and then also the average Ghanaian we have.

[Kwesi Otin]

Yeah.

[Derek Abayite]

So my first question to you, Rush, is the everyday Ghanaian that wants to own a property in Ghana, right? What's the best they can do it?

[Rash Asare]

It all starts with the land, right? You're not going to build without the land. So I think we need to take it one step at a time in life. Whatever you want to do. When you look at the grand scheme of things, sometimes most people get scared and they cannot take the first step. The first step is to buy land. If you are just starting out, you know, you know your pocket, you know how much you're bringing in, Be realistic, right? You can go and buy $150,000 land in this day, maybe you'll be okay somewhere around prm pram or where you can afford. You should know that and calculate and start with the land. Once you have the land, then maybe you cannot build a main house yet because you are renting. You might say, okay, I'll build a one bedroom house for myself. Now that's your boy's quarters. So you don't waste the land. If you have one plot, you might put that one bedroom with your kitchen and everything in the corner. I know people who've done this. You don't you? Most of the cost for construction goes in the finishes. So having the actual structure is usually about 30%, 35% of the actual construction cost. So you can have the building standing without spending too much. And then you do the essentials. I've had people who do screening and they will move in instead of paying rent. They will tally when the rent is due. So a year later, they might tally slowly, they plaster it and they move accordingly. I know somebody who's moved into their house this way, finished that house built two units, apartment to rent because he bought two plus on the other one and now he's about to build his main house. So he started with the, with the west quarters that I'm talking about. So you just have to start small.

[Derek Abayite]

Cod says that there's too much hassle when it comes to owning a land in Ghana. So he would rather people go for luxury home.

[Kwesi Otin]

Yeah, because that's, that's the way to go. Now you, you need to look at it from this other way. He gave an example of somebody started from the boys quarters, did two rooms to rent and then now is doing their house. Now I'm saying that with all the hassle that comes with owning the land and having to go here and there to do all your verifications and everything for a new or a first time investor in the market, why don't I just put you on an apartment that gives you 36 months or 48 months or maybe 24 months payment plan and then you get to own and rent. Because all you need in this industry is to have an experience of this industry. So I'm going to give you an apartment, $60,000, $35,000. Because if you want to be realistic, buying a land even in a very good location today is going to cost you about 100,000 CD, that's like $8,000. And after that you do your documentation, your checks, your registration and everything comes up to about $15,000. $15,000. You want to put even a very nice simple detached family unit on that, you're looking at $40,000. So that brings you up to 60, 55,000, 40 plus 15, $55,000. Today I can get Chado, which is so close to Labadi, so close to consummate, so close to Laboni. For 55,000 you have the opportunity to pay over 36 months. So that's what I'm talking about. Because we've had so many diasporan stories, we've heard so many stories from the locals that have tried to invest in land that has ended them. I'm not saying land ownership is bad, but from the angle I speak and to build momentum with what is currently happening in our real estate industry, why don't we go straight into ownership? Then you get passive income. So once you start getting rent from this particular unit you've bought now, because you are not using your personal money, but you're using money from passive income, you can now put the returns into an investment like owning a land.

[Derek Abayite]

Rush doesn't agree.

[Rash Asare]

I agree to it some extent because not, not in relation to owning the apartment, but as a person, your first goal shouldn't be to own a house. It's unique cash flow. So what he's saying I just look at as a business. So if the cash flow from that business is going to help you because you're not working for that money anymore, you're just doubling up. So for example, let's say that person was making 10,000 cities a month and they're able to do what he's talking about. Now you might be getting a thousand dollars a month in that.

[Kwesi Otin]

Yeah.

[Rash Asare]

So let's say, let's make it one cities. I mean 10 cities is $1. Let's go with that. So that makes it 10,000 cities. So now he's making 20,000 cities. Now if he chooses to go and build it'll be that much faster and he has he end up having two. So that's compounding. It could be anything. It could be investing in a dividend stock. So from that cash flow angle, I agree.

[Derek Abayite]

Okay.

[Rash Asare]

You could have easily bought a car wash for that amount as well. You get the same. So if, if he's coming from the angle of instead of rushing to go and build a house, you should focus on getting some sort of cash flow before. I agree.

[Kwesi Otin]

But I, you know, how about on.

[Derek Abayite]

The angle of owning a land instead of getting know an apartment?

[Rash Asare]

Well, $55,000 for apartment in Chado. I have, I haven't seen it around.

[Kwesi Otin]

Yeah, it's happening and it's is one of the big ones, one of the big companies, real estate companies, they've started it. I, I don't, I don't want to do free adverts. So I'm not going to mention. But this is what we do. That's why you should get in touch with me. I don't know the time you see this, maybe the price might have gone up because every three months, every quarter this price is shoot up. But yeah, it's, it's, it's currently helping. I can introduce you to it. And what I want to buttress on is people need to take this out of their heads. It's not everybody that's meant to own a home and ownership in I think especially for Africa, we think ownership is pride for me. That's what I'm saying that if you're able to buy this apartment, it saves you the time, the energy running around to do all the checks and to be scared. Is Mr. Kofi going to come or sister am I going to say this land is mine? So that's why for me I always, I always advise first time buyers, investors, whether diaspora or locals to just go into buying a unit, looking at their whole process as a business, getting some returns from it and then rather use that returns to invest into other ventures.

[Rash Asare]

Right. So if you are saying that you cannot, you should go into apartment for the sole reason that land is risky. Risk come from not knowing. And the land, the land sales in Ghana unfortunately is not as smooth and clear cut as we wish for it to be. Which is why they have industrial expert like myself. I've had people that bought land, they've never stepped a foot in Ghana before, go to design phase and build a house before they ever step a foot in Ghana. So you do have those people out there that have taken all the risk. They guarantee your money back in the contract. If anything goes wrong, it's not on you to buy it. Right. Because most people go and try to buy the land themselves. There is no guarantee, you don't know that person. But if you have a company that has an office, they have a brand and you have a contract, the contract is binding in Ghana that's guaranteeing your money back. If something goes wrong then you, there is no risk.

[Derek Abayite]

So I've seen a plot of land, let's say somewhere in Chado. How do you legitimize the process for the buyer?

[Rash Asare]

For my business I like to go in for a big truck of land. The reason why I do that is because if I go for a big truck of land, I go and take the risk myself. As a business person, I do all the due diligence. But in Ghana that's not enough. You have to test the land. So I'd rather go for 100 acres and then doing all the doodle and everything is fine. But until you go and test the land, I've had land with a land title. You go test the land and now you have issues. So if it's just one plot, test the land.

[Derek Abayite]

What does that mean?

[Rash Asare]

You try to work on the land, try to go build a fence or try to go dig foundation.

[Derek Abayite]

At what point in the process would you test the land?

[Rash Asare]

I like to go immediately once I make some deposits. So you don't buy the land outright and give somebody 100% before you go test the land. And this comes from personal experience. My first, I didn't lose it. I knew what I was doing. I did all the due diligence actually with a lawyer, everything was correct. But once I went to work, somebody came and I had to go to court for two years and I won and I'm back. But if I would have made a deposit and went to test the land, I would have immediately, probably I wouldn't have had to pay the court, you know, fees from my pocket. I was going to deduct it if I wanted to fight. So you can test the land while you haven't paid for it. And you immediately will find out in Ghana, the moment you dig the ground, whatever, a sight will come. So I like to go for a big truck of land, do this testing before I open it to the market.

[Derek Abayite]

You sell it and then I sell.

[Rash Asare]

It myself and I give contrast to guarantee your money back if anything goes wrong. Because the reason why I'm doing that is because I've tested it, I've done the paperwork is important. If you go to court, you win. But the money you spend, the time, most people give up.

[Derek Abayite]

You see, the problem I have with what COD is saying now is average Ghanaian that wants to own a home, how can they use your model to own a property?

[Kwesi Otin]

So it's very easy. Now in this part of our world, people are just looking at. That's what I'm saying, ownership. Ownership is not the way like I own, I own. I'm the boss, I'm the chairman. This is, for me is the reason why a lot of people are not getting to own these homes. Because all you need to afford a $55,000 property is to get three friends, five friends that could be able to reach 10,000. That's where we are coming. That's a strategy, it's a business. Real estate is not like a child's play. It's a business. You need to deep and have a strategy around it. So I'm not saying that you need to come up with all the money. I'm saying you need a foot in the room.

[Derek Abayite]

How do you get that foot in a room?

[Kwesi Otin]

So partnership, you said an average Ghanaian. That's what I'm coming from. That angle. Connected minds podcast.