for most of us buying a property is like buying an expensive junk. like those cars at concours. Only diff is that the cars are rare so one can find a buyer. When I pass by Kile & other places I can't help but see an umoja innercore in a few years. It is even worse than eastlands coz for the latter, the guy who planned it made it for the masses so Jogoo road is wide. The jam trail from the leafy @ 8am is unimaginable! On Mon, Nov 29, 2010 at 4:35 PM, Josiah Mugambi <jmugambi@gmail.com> wrote:
the guy who is making a killing is the person selling you the 'expensive' property... -- Josiah Mugambi
2010/11/29 aki <aki275@gmail.com>
@Peter, like all investments people look for returns. On the property front, suppose you buy an expensive place and want to rent it out ( as an investment ). Chances are that you will not find the tenants to pay the rates that you want. Next step is to get some NGO to pay, again chances are that you will have a tenant until the work contract of the NGO expires, then you are back at square one. Given the glut of expensive places and rents, you may find it difficult to get a return for quite a while. Also do not forget that Caesar also wants to tax you on rental income. So business makes more sense than property.
Simple question = would you buy an expensive property that you know is over priced and what happens when you sell it?
Any suggestions?
Rgds.
On Mon, Nov 29, 2010 at 4:18 PM, Peter Muchemi <pmuchemi@gmail.com>wrote:
Returns for Financial instruments like bonds,FDs have returns below the inflation rate. For a jamaa who invests in the "other" economic segment like Matatus, Importing Mitumba's & new clothes, from turkey, india, china, second hand computers & motor vehicle parts etc wealth is kept in houses & land coz the return will be greater that inflation.
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