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How did you make your first Kes million?
Rank: Member Joined: 11/9/2007 Posts: 288 Location: OZ
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One Kenya Shilling million is not so much these days. But that 1st million figure remains a psychological milestone, one that gives status and encourages a person to do more. Certainly, someone who has hit a net worth of 1 million will not stop there. Heh. So, those who have hit that first million, why don’t you share your story? Who knows, it can be a source of inspiration to those who are still on that journey. You can begin by considering the following questions: 1. Did you inherit your money? 2. Did you inherit properties? 3. Did you marry someone rich? 4. Did you start a business and became successful? 5. Did you do it by saving regularly? 6. Did you do it by investing aggressively? 7. Did you make your first million by working as a professional overseas? What’s your story? Seles83 attached the following image(s):  1millionrv.jpg (8kb) downloaded 22 time(s).More monies, more problems...
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Rank: Member Joined: 1/16/2010 Posts: 672 Location: nairobi
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worked .... invested aggressively after saving ...... bought a plot after selling a business that was not very productive ..... imported and sold cars ..... have holdings in the NSE! God gave me the power to make wealth ... Blessed the work of my hands & enabled be A SELF MADE BILLIONAIRE ...... TO GOD THE FATHER OF MY LORD JESUS CHRIST; BE THE GLORY NOW & FOREVER MORE!
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Rank: Member Joined: 9/12/2008 Posts: 436 Location: illobi
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I find this query biased.... why not ask also how those who have not made that 1 million plan to make it.... that way probably, they can be guided/critisized positively to help them achieve that goal faster.
A successful man is one who makes more money than his wife can spend. A successful woman is one who can find such a man
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Rank: Member Joined: 11/9/2007 Posts: 288 Location: OZ
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K22 wrote:I find this query biased.... why not ask also how those who have not made that 1 million plan to make it.... that way probably, they can be guided/critisized positively to help them achieve that goal faster.
Not a close forum...this is a thread for sharing..million making ideas.. More monies, more problems...
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Rank: New-farer Joined: 6/21/2010 Posts: 73 Location: kenya
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I am yet to make my 1st million, but i find this very inspiring.
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Rank: Veteran Joined: 7/22/2008 Posts: 1,139
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bought a plot at membley at 200,000 in 2005,I had taken a loan. This was for speculation purposes but was buying coz my collegues were buying.I sold the same plot last year at 1.8m coz I wanted to inject capital into my business that a was doing on the side beside being employed. Out of the business,I have bot another plot at Muigai inn and another in Kitengela through a wazuan investor. So,to be brief,my business after the capital injection is worth something like 4 million.I have two plots and still employed and still getting return on a daily basis.I foresee quiting employement late this year.I am 30 years old. "You're not supposed to be so blind with patriotism that you can't face reality. Wrong is wrong, no matter who says it". Malcolm X
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Rank: Member Joined: 11/9/2007 Posts: 288 Location: OZ
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Guys dont be mean surely there is enough millions to go arround....the best gift one can give is a good advice..with no hidden motives More monies, more problems...
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Rank: Member Joined: 11/9/2007 Posts: 288 Location: OZ
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Another question i keep asking myself..what makes a man a millionaire..having a million in a account debt free or having an income of 1 million.. Winning a million shouldn't make one a millionaire.. More monies, more problems...
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Rank: Member Joined: 11/9/2007 Posts: 288 Location: OZ
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Burning Spear wrote:bought a plot at membley at 200,000 in 2005,I had taken a loan.
This was for speculation purposes but was buying coz my collegues were buying.I sold the same plot last year at 1.8m coz I wanted to inject capital into my business that a was doing on the side beside being employed.
Out of the business,I have bot another plot at Muigai inn and another in Kitengela through a wazuan investor.
So,to be brief,my business after the capital injection is worth something like 4 million.I have two plots and still employed and still getting return on a daily basis.I foresee quiting employement late this year.I am 30 years old. Good on you Mate!!...any losses you made before making any monies.. More monies, more problems...
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Rank: Veteran Joined: 7/22/2008 Posts: 1,139
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Seles83 wrote:Burning Spear wrote:bought a plot at membley at 200,000 in 2005,I had taken a loan.
This was for speculation purposes but was buying coz my collegues were buying.I sold the same plot last year at 1.8m coz I wanted to inject capital into my business that a was doing on the side beside being employed.
Out of the business,I have bot another plot at Muigai inn and another in Kitengela through a wazuan investor.
So,to be brief,my business after the capital injection is worth something like 4 million.I have two plots and still employed and still getting return on a daily basis.I foresee quiting employement late this year.I am 30 years old. Good on you Mate!!...any losses you made before making any monies.. yap,I have made looses still but from the business and some counters I have been buying from 2007 when I got into this business of investing in equity. The 2008 poll chaos had be loose half of what i had in NSE and foolishily,I decided to "stop loss" through selling some counters ie HFCK,NIC and KQ.Thats a loss that worries me alot.I better could have waited a little bit for normalcy to return,I could be very rich now. "You're not supposed to be so blind with patriotism that you can't face reality. Wrong is wrong, no matter who says it". Malcolm X
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Rank: Veteran Joined: 2/10/2010 Posts: 1,001 Location: River Road
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Seles maybe this might inspire you in 2005. I had lost my entire fortune through a get rich quick scheme, i had only 8k in the account, 25k worth of shares and liabilities 0f 250k. I had to tarmac a whole year to get into employment where i had to work 6am to 8pm 6 days a week for 40k a month. for 2 years that didn't make me rich but it enabled me clear the liabilities and accumulate savings in a sacco where i took a loan of 300k. When shares took a nose-dive in 2009 used the loan to buy shares at rock bottom prices. When the share prices recovered n through regular re-balancing portfolio taking capital gains was able to get back to a net worth of million plus in assets. I took another Sacco of 600k bought good shares last year made some quick gains repaid half the loan and set out to do business where at least i can make in a day what i use to earn in a month. Morale of the story please avoid get-rich quick schemes; hard work, austerity living and saving regularly and borrowing wisely, repaying promptly will get you to your million.
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Rank: Veteran Joined: 6/2/2010 Posts: 1,066
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By living on 50% of my salary ever since I started working. I save and invest the rest.
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Rank: Elder Joined: 3/2/2007 Posts: 8,776 Location: Cameroon
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@seles, U tell us first. TULIA.........UFUNZWE!
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Rank: New-farer Joined: 12/30/2010 Posts: 41 Location: Africa
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my first million is a great memory...its like loosing ones virginity..after the process u look back and ask WAS THAT IT?
made my first million at 24. Remember going to the ATM just to check my balance. How naive? sold Timber to lebanon when i was based in West Africa. Quit my job in three months. I blew the money away quickly. Went broke made another million and learnt from my mistake. Making the money is not hard, maintaining a steady growth trajectory and eyeing the future is the hardest. Its never enough.
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Rank: Elder Joined: 8/4/2008 Posts: 2,849 Location: Rupi
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@ my 2 cents, I salute you. Lord, thank you!
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Rank: Veteran Joined: 5/7/2009 Posts: 1,032 Location: Sea of Transquility
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What an inspiring thread for us who r yet to get there. “small step for man”
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Rank: New-farer Joined: 9/6/2010 Posts: 97 Location: nairobi, kenya
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Made my first million at the age of 19, while still in university in UK. I used to paint peoples houses on my own (at half the cost of local painters), as i got more houses to paint I got other uni students to work for me, and soon i was painting around 5 houses a week. Within two years I saved up around 20,000 pounds and used it as down payment to buy a small rundown 2 bedroom house(my family really helped me at this time in getting the mortgage and giving me confidence). I renovated the house and within 4 months sold it at a 30% profit. After that i kept buying and selling property till i finished my course and headed back to Kenya. Came back home with enough money to buy a plot of land and build a block of apartments and got into the property developing business. Before you can be be old and wise, you must first be young and stupid.
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Rank: Member Joined: 11/10/2010 Posts: 281 Location: Nairobi
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In 2005 I was 24 and flat broke after working for about 5 years in full employment. I joined a sacco started saving religiously and investing in stocks. Took a loan of 800k in 2007 bought 1/2 acre on what is now the eastern bypass (1/8 is going for 1.5mil). Later in 2007 i bought 4 plots in Kamulu each worth around 40k (today going for 200k)
Same year I cashed 400k out of nse and bought a car.
Now I'm building my own house so as to move away from the landlord.
I am still scouting for a decent second source of regular cashflow and also hold some pieces of land bought with friends.
I have done alot of things wrong like drinking beyond my budget regularly, investing in forex blindly (cost me 250k), lending friends who never repay, getting into the tuk tuk business, buying livestock etc...
I calculated my networth recently and estimated it to be 3.5m. How did I get here ? Wouldn't have done it without taking the risks to invest in all this stuff, wouldn't have learnt if it was not for all those risks. It's been a fun ride. I'm targeting 10m by 2012.
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Rank: Member Joined: 1/3/2011 Posts: 264 Location: Nairobi
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How i plan to make my first million.
After wasting alot of time and money partying and boozing for about two years, my 20th birthday resolution last october was to get serious about life. So i cut down on spending and for december break i did some farming and by end year i put all i had made on stocks. So i did my research, did some math( I so thank my mom for forcing me to go for cpa's as i waited for uni) and kidogo speculation i have been able to grow my portfolio from 8k to 13k( thank you coop) and it would have been more coz my math on K.Q was all on the green and hadi sasa i have no idea whats wrong.
i know ths is a small portfolio but am savin up for a massive buy out wen stocks go a bit lower. I have managed to get stable demand for skuma and spinach and make about 1300 a fortnight, my paroz give me good money for skul ana on a good month i kill about 800-1000 in savings and all this goes straight to the bank and with the ka-helb loan i hope to get am goin to do some wise investing ths year for the long term (before my paroz kick me out)
i hope to find a good investment group, maybe even get my friends to join and may make that millie as i get outta uni, and if i dnt, at least i will be on my way.
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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...is not available for comment...
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