Rank: Veteran Joined: 3/26/2012 Posts: 985 Location: Dar es salaam,Tanzania
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Kaka M wrote:wilyum wrote:Hello Wazuans,
need to advice from wazees in the house,
got an extra 50k which am torn on how to subdivide it between the needs i have.
1. the first need is acquire some land or property in a good place.
2. i know this sounds crazy bt a wedding to think abt nxt year.
how do i go achieving the two?
Consider Joining a Sacco, Contribute 50k per month for 6 months consistently and if the sacco has the facility like Mhasibu they can finance u to buy a plot upto four times your contribution. Depending on your priorities you can borrow for the wedding as well. The good thing is that what is in your sacco is as it were renewal expenditure/development money. You save, borrow, repay in small amounts offcourse with interest as a cost but you can do so many things with the amount and it will still be there once u have made all your repayments and want to withdraw from the Sacco. This story of Mhasibu is very interesting to me. Please elaborate on criteria for joining etc etc
“The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.”
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Rank: Veteran Joined: 3/26/2012 Posts: 1,182
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Kaka M wrote:wilyum wrote:Hello Wazuans,
need to advice from wazees in the house,
got an extra 50k which am torn on how to subdivide it between the needs i have.
1. the first need is acquire some land or property in a good place.
2. i know this sounds crazy bt a wedding to think abt nxt year.
how do i go achieving the two?
Consider Joining a Sacco, Contribute 50k per month for 6 months consistently and if the sacco has the facility like Mhasibu they can finance u to buy a plot upto four times your contribution. Depending on your priorities you can borrow for the wedding as well. The good thing is that what is in your sacco is as it were renewal expenditure/development money. You save, borrow, repay in small amounts offcourse with interest as a cost but you can do so many things with the amount and it will still be there once u have made all your repayments and want to withdraw from the Sacco. Do they loan you four times your contributions without conditions? Like guarantees amounting to the loan amount?
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Rank: Member Joined: 10/14/2011 Posts: 661
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Metasploit wrote:Kaka M wrote:wilyum wrote:Hello Wazuans,
need to advice from wazees in the house,
got an extra 50k which am torn on how to subdivide it between the needs i have.
1. the first need is acquire some land or property in a good place.
2. i know this sounds crazy bt a wedding to think abt nxt year.
how do i go achieving the two?
Consider Joining a Sacco, Contribute 50k per month for 6 months consistently and if the sacco has the facility like Mhasibu they can finance u to buy a plot upto four times your contribution. Depending on your priorities you can borrow for the wedding as well. The good thing is that what is in your sacco is as it were renewal expenditure/development money. You save, borrow, repay in small amounts offcourse with interest as a cost but you can do so many things with the amount and it will still be there once u have made all your repayments and want to withdraw from the Sacco. This story of Mhasibu is very interesting to me. Please elaborate on criteria for joining etc etc These are the requirements for joining Mhasibu. http://mhasibusacco.com/...membership-recruitments
Joining SACCO is good advice; you will save and get cheap loan 4times your savings
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Rank: Member Joined: 10/14/2011 Posts: 661
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mkeiyd wrote:Kaka M wrote:wilyum wrote:Hello Wazuans,
need to advice from wazees in the house,
got an extra 50k which am torn on how to subdivide it between the needs i have.
1. the first need is acquire some land or property in a good place.
2. i know this sounds crazy bt a wedding to think abt nxt year.
how do i go achieving the two?
Consider Joining a Sacco, Contribute 50k per month for 6 months consistently and if the sacco has the facility like Mhasibu they can finance u to buy a plot upto four times your contribution. Depending on your priorities you can borrow for the wedding as well. The good thing is that what is in your sacco is as it were renewal expenditure/development money. You save, borrow, repay in small amounts offcourse with interest as a cost but you can do so many things with the amount and it will still be there once u have made all your repayments and want to withdraw from the Sacco. Do they loan you four times your contributions without conditions? Like guarantees amounting to the loan amount? No institution will give loan without securing it. Guarantors act as security for loan. It’s easier to secure a loan through guarantee than other forms sought by financial institutions i.e. banks.
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Rank: Member Joined: 7/21/2010 Posts: 249 Location: nairobi
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Thiong'o wrote:mkeiyd wrote:Kaka M wrote:wilyum wrote:Hello Wazuans,
need to advice from wazees in the house,
got an extra 50k which am torn on how to subdivide it between the needs i have.
1. the first need is acquire some land or property in a good place.
2. i know this sounds crazy bt a wedding to think abt nxt year.
how do i go achieving the two?
Consider Joining a Sacco, Contribute 50k per month for 6 months consistently and if the sacco has the facility like Mhasibu they can finance u to buy a plot upto four times your contribution. Depending on your priorities you can borrow for the wedding as well. The good thing is that what is in your sacco is as it were renewal expenditure/development money. You save, borrow, repay in small amounts offcourse with interest as a cost but you can do so many things with the amount and it will still be there once u have made all your repayments and want to withdraw from the Sacco. Do they loan you four times your contributions without conditions? Like guarantees amounting to the loan amount? No institution will give loan without securing it. Guarantors act as security for loan. It’s easier to secure a loan through guarantee than other forms sought by financial institutions i.e. banks. i beg to differ, its easier to get unsecured loan from a bank, than wait untill 6months to save from a sacco, and then convince members to guarantee you. you can get over 3m over a period of 5yrs at 50k installment. If you invest in real estate, say eastern bypass, a prime 1/4 acre with clean free hold title deed is a good bet. in 5 years, you can easily dispose at 7 -10m. ..desire to succeed is always fighting with fear of failure..
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Rank: Member Joined: 10/14/2011 Posts: 661
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maina20 wrote:Thiong'o wrote:mkeiyd wrote:Kaka M wrote:wilyum wrote:Hello Wazuans,
need to advice from wazees in the house,
got an extra 50k which am torn on how to subdivide it between the needs i have.
1. the first need is acquire some land or property in a good place.
2. i know this sounds crazy bt a wedding to think abt nxt year.
how do i go achieving the two?
Consider Joining a Sacco, Contribute 50k per month for 6 months consistently and if the sacco has the facility like Mhasibu they can finance u to buy a plot upto four times your contribution. Depending on your priorities you can borrow for the wedding as well. The good thing is that what is in your sacco is as it were renewal expenditure/development money. You save, borrow, repay in small amounts offcourse with interest as a cost but you can do so many things with the amount and it will still be there once u have made all your repayments and want to withdraw from the Sacco. Do they loan you four times your contributions without conditions? Like guarantees amounting to the loan amount? No institution will give loan without securing it. Guarantors act as security for loan. It’s easier to secure a loan through guarantee than other forms sought by financial institutions i.e. banks. i beg to differ, its easier to get unsecured loan from a bank, than wait untill 6months to save from a sacco, and then convince members to guarantee you. you can get over 3m over a period of 5yrs at 50k installment. If you invest in real estate, say eastern bypass, a prime 1/4 acre with clean free hold title deed is a good bet. in 5 years, you can easily dispose at 7 -10m. @ maina20, nothing called unsecured Qualifying is not a walk through a rose garden; one has to meet the lender’s requirements: eg proof of income, pay slip, letter from employer and etc –you now get the catch?  , that’s the guarantee!. Have a look; http://www.standardchart...loans/personal-loan/en/
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Rank: Member Joined: 4/18/2011 Posts: 459
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wilyum wrote:@kaka m,can i join mhasibu if am from IT background? I am not sure but I think u can join with an IT background. A certain thread in the groups column discusses the best Sacco to join and one point that is worth considering is the ease of getting guarantors for your loan. i.e Join a Sacco at your Work place, Church or where you know several people whom you can guarantee one another. In some cases though where a Sacco is financing a car, Plot or House the property can serve as collateral but you will need to prove that you can repay the loan from your income.
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