Which makes a buillding Sacco an appealing alternative. Get a bunch of guys put in money and buy an acre in Karen then. Build Highrise apartments and each gets a piece.
On Mar 13, 2011 3:11 PM, "Eunice Wa" <tewafula@gmail.com> wrote:
> Nd'wex,
>
> Let me give you a quick review of the property Market,the figures
> below could have worked in 2008;
>
> Today, a 1/4 even in Athiriver, Kitengela, Rongai or Ruiru will not go
> for less than 1.5m maybe much further inside like Kinaine or
> Thika-Garisa road you can get at 800k. let leave the building out....
>
> Now, buying a house, the cheapest there is today (about 3.5m)
> apartment will be a small 2Br in Mlolongo. To the very Max you can
> only make 20k in monthly returns, a 2M loan for 10 years will cost you
> a monthly repayment of 31,000, dont forget there are legal fees and
> stamp duty to be paid besided deposits on Purchase.
>
> Notes/lessons
> Real Estate is great investment, but not for quick returns,
> average RoI for a house is 120-200 months depending on area and initial costs
> At times as Gichingiri mentions, rent may be cheaper but for those who
> can wait purchase is rewarding as you will own it eventually and it
> will definately appreciate
>
> My take,
>
> Eunice
>
>> Message: 2
>> Date: Wed, 2 Mar 2011 08:11:05 +0300
>> From: "Nd'wex Common" <flexycat@gmail.com>
>> To: Skunkworks Mailing List <skunkworks@lists.my.co.ke>
>> Subject: Re: [Skunkworks] Shocking The housing market in Kenya
>> Message-ID:
>> <AANLkTikVj0QgVo+GsmL3CDODC1M+8gENrPdo2SaBB=aA@mail.gmail.com>
>> Content-Type: text/plain; charset="iso-8859-1"
>>
>> Yesterday did some very basic research with regard to housing and found that
>> armed with 2M you can do either of the following
>>
>> option 1:
>> Buy land appox 1/4 -> 800K
>> Building appox 900K [depends on the design, and bushman of an engineer you
>> find]
>> Proximity: Nairobi -> outskirts
>>
>> option2:
>> Mortgage an apartment worth 4M [your 2M being the down payment] rent it out
>> @30-40K for the duration of the loan repayment period [you living in your
>> current abode assuming its 15-20K pm] this should take min. of 5years to
>> have it repaid but no more than 7yrs interest included.{Where do you get 2M
>> just like that??}
>>
>> In reality option2 will most likely materialize if you are either married
>> without kids or having a multitude of revenue streams if not a good income,
>> however its the best.
>>
>> I stand to be corrected.
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>> ------------------------------
>>
>> Message: 3
>> Date: Wed, 2 Mar 2011 08:24:35 +0300
>> From: Gichingiri Kuria <gmail@gichingiri.com>
>> To: Skunkworks Mailing List <skunkworks@lists.my.co.ke>
>> Subject: Re: [Skunkworks] Shocking The housing market in Kenya
>> Message-ID:
>> <AANLkTikVsmXZEgKsBsvBejuyj+h1hSMUGLUeZ67ETSqz@mail.gmail.com>
>> Content-Type: text/plain; charset="iso-8859-1"
>>
>> There are some NHC flats in Langata that we're on sale last year. 3 bedroom
>> going for about 4.3m.
>> Some guys are paying monthly installments of sh. 53,000. You can't charge
>> rent over sh. 30,000 because of the location. It appears to be the same
>> story in many areas.
>>
>> Where is the sense in such an 'investment'? Even if you were to live in it,
>> why not rent at 30k and use the extra 23k for an investment with better
>> returns.
>>
>> Do houses need to be built of stone? Can they be wooden (US), brick (Europe)
>> or say, shipping containers? Check this out -
>> http://www.thedailygreen.com/green-homes/latest/shipping-container-homes-460309
>>
>>
>>
>>
>>
>> 2011/3/2 Nd'wex Common <flexycat@gmail.com>
>>
>>> Yesterday did some very basic research with regard to housing and found
>>> that armed with 2M you can do either of the following
>>>
>>> option 1:
>>> Buy land appox 1/4 -> 800K
>>> Building appox 900K [depends on the design, and bushman of an engineer you
>>> find]
>>> Proximity: Nairobi -> outskirts
>>>
>>> option2:
>>> Mortgage an apartment worth 4M [your 2M being the down payment] rent it out
>>> @30-40K for the duration of the loan repayment period [you living in your
>>> current abode assuming its 15-20K pm] this should take min. of 5years to
>>> have it repaid but no more than 7yrs interest included.{Where do you get 2M
>>> just like that??}
>>>
>>> In reality option2 will most likely materialize if you are either married
>>> without kids or having a multitude of revenue streams if not a good income,
>>> however its the best.
>>>
>>> I stand to be corrected.
>>>
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>>
>>
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