@ Guru267! I could be delusional but I wonder who said he would buy a house at 10M and rent it out at 100K? The language used is very basic even for my PP3 daughter.

Pablo how about partnering with landowners who do not have the cash required to develop it? South C, around Madina and Elegance has some nice empty lots of land.

@ Pablo, I have re-read the post above and still can't believe you've decided to sell it, but i'm sure you have evaluated and looked at the pros and cons....that is one good house, especially with the promising developments in the area and proximity to the main road.

PROBLEM OF GOOD LAND LOCATION

@Pabio & @Luttz,
What I will suggest might be mere theory as I am not on ground there.

There is an average asking price for good locations and the prices are very prohibitive.
I know and believe there are some opportunities when you keep some ears on the ground and interact, this will give you some leads, do not give up.

Most high brow areas have adjoining suburbs which are not as highly priced like the main area.
I was privy to one Mzee that brought 1/2 acre Rongai not far from Bomas land for sale to Faida Investment bank for 5M. I do not know how genuine it is but that is where conducting due diligence and negotiating comes in.
You should not sale your house, emplore these possibilities, encounter one or two missed opportunities t0o be encouraged to sell your house.
I strongly believe this is possible if you keep your ears on the ground. This involves interacting with estate developers, the middle level work force and at times parting with 200 bob
or 500 for Unga !!!.
Equally analyze @accelriskconsult suggetion.

Here in Nigeria it was by intearaction and leads
that helped me to secure a land worth 15M for 7M.
This land is directly behind a high brow area.
I went to estate developer that market land in that vicinity, they asked me what is my budget, I answered 5M, they bursted into laughter, that the minimum land I can see in that vicinity is 20M ie
4 times my budget. I called one of them that looks friendly parted with 750 bob equivaent, got his cell phone number. 3 weeks later he called me for an opportunity closeby to the estate plot they have fully sold and the asking promo price was 7M !!!. I did my due diligence made 50% deposit in Dec 2011. In Jan 2012 the price of the land has been jerked up to 15M, had it been I did not make the deposit they would not have accepted 7M because of demand.
As at now the same land goes for 20M. Why ? Because our MPs swooped on the land with ready CASH in March 2012.A completed duplex house there goes for 70M.

All my dealings on land here in Nigeria and neighbouring Ghana and even far away Uganda has always been by leads from friends or UNGA!!!

You can now understand why I said confidently thatyou can find one within a close vicinity of a high brow suburb irrespective of the high price they are calling.

Stocks @Guru267,
It is difficult to convince a core stock person to real estate. It is as hard as converting a christian to muslim.
We have one local adage :-
If you see the stupid pig using mouth to dig ground, it is seeing something other animals are not seeing "

I have had a good ride with testimonies with real estate because I did my research and was convinced to plunge into it just 4 years ago.
I will continue to combine real estate with stocks.

@pablo hfck is putting up 3 bedroom units in komarock ph 5, prices start at 6m when complete and rents can peak upto 40k/M, with the kind of cash your talking getting maybe 4-5 units, rent them out for about 3yrs while they appriciate in value then sell at maybe 8.5M and you could make 12.5M profit+rental income over the three years, ad say thats a tidy return for a 30M investment in under 5 years if all things go well