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brekke
#1 Posted : Tuesday, February 08, 2011 10:40:18 PM
Rank: New-farer


Joined: 7/10/2010
Posts: 23
Location: US
I have saved 5m which i would like to invest in an apartment in Mombasa. Any advice on where my investment will be good value for money in terms of rental income and/or capital gains if am to sell it in 4-7 years time?
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Seles83
#2 Posted : Wednesday, February 09, 2011 3:04:36 AM
Rank: Member


Joined: 11/9/2007
Posts: 288
Location: OZ
I dont much about MSA properties, i would go for a water front property in well managed estate...

The below link might be helpful..
http://www.skyscrapercit.../forumdisplay.php?f=2637
More monies, more problems...
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brekke
#3 Posted : Wednesday, February 09, 2011 12:38:50 PM
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Joined: 7/10/2010
Posts: 23
Location: US
Water front property....i guess i will then need to cough not less than 10m.. What i plan to buy is a 3-bedroomed of around 3m. Any links?
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Seles83
#4 Posted : Wednesday, February 09, 2011 1:09:02 PM
Rank: Member


Joined: 11/9/2007
Posts: 288
Location: OZ
brekke wrote:
Water front property....i guess i will then need to cough not less than 10m.. What i plan to buy is a 3-bedroomed of around 3m. Any links?


Use leverage to your advantage a water front may not be affordable to you in US but for in Kenya yes..

From your initial post you have 5M, thats 50% easy...a water front property will fetch a modest returns of 7% or even higher..basically the tenant will be servicing the loan basically..This is a good example of good debt..

More monies, more problems...
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brekke
#5 Posted : Wednesday, February 09, 2011 1:54:35 PM
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Joined: 7/10/2010
Posts: 23
Location: US
Sorry i meant 5m for a 3 bedroomed, not 3m. Thanks for the advice. Hope other wazerians can also tip me on where in mombasa i can invest the good debt (5m).
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tony stark
#6 Posted : Wednesday, February 09, 2011 1:57:01 PM
Rank: Veteran


Joined: 7/8/2008
Posts: 947
Where in mombasa are these beach front properties going for 10 million??
Revise your pricing upward with the range of 25million and above. Your current budget might get you a house in shanzu, bamburi etc if your lucky Nyali.
If you want a beach front property look way up north or way down south and you might barely get a beach front property. In kilifi a 3rd row beach front is about 5 million now on bofa road.
Good luck with your search!
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brekke
#7 Posted : Wednesday, February 09, 2011 2:14:56 PM
Rank: New-farer


Joined: 7/10/2010
Posts: 23
Location: US
@Tony Stark
Actually am not particularly interested in a beach property but it is Seles83 who meant i could get one if i took a loan... What am out for is a decent house in a decent place worth 5m, and hopefully avoid taking a loan to top up....
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Signature
#8 Posted : Wednesday, February 09, 2011 4:15:41 PM
Rank: Member


Joined: 4/16/2010
Posts: 217
Location: Nairobi
@brekke ,follow the link ,everything coast properties
http://www.coastweek.com...assifides/properties.htm
properties For Sale By Owner
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brekke
#9 Posted : Wednesday, February 09, 2011 5:09:11 PM
Rank: New-farer


Joined: 7/10/2010
Posts: 23
Location: US
@Signature. Thanks for the link.

Whom would you term as a reputable real estate agent at the coast?
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