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Looking for property in slums.
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Elder
#31 Posted : Monday, April 15, 2013 2:06:25 PM
Rank: Elder

Joined: 9/7/2010
Posts: 2,148
Location: elderville
josimar wrote:
Personally i have been toying with the idea of purchasing a 1/4 acre in a growing town , then put up shops and single rooms behing the shops.The biggest challenge for me has been how i will finance the construction .
By the you surmount the challenge of finance and finish your project you shall discover that your biggest challenge is rent collection and property management. A colleague of mine put up a 3000-6000 rentals and he couldn't get rid of them fast enough. Problem of non-payment of rent, tenants going to the rent tribunal and getting stay of any distress for rent, the septic tank getting full almost on a weekly basis, astronomical electricity bills, illegal bypass of water supply, damaged rooms and fixtures etc.
He who can express in words the ardour of his love, has but little love to express. - Petrach, Son. (That men by various ways arrive at the same end. - Montaigne, The Essays of.)
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254.co.ke
#32 Posted : Monday, April 15, 2013 2:48:31 PM
Rank: Member

Joined: 11/17/2006
Posts: 143
Did you @Mawinder say the management of these structures easy? You kidding!It has never been and it will never be a walk in the park to collect rent from the always disillusioned lot. However a trick that work is getting someone (of course reliable point man known to you from the same slums) and providing him with one such free room out of the 'estate' and voila, the rent collection puzzle is solved.
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Foz00
#33 Posted : Monday, April 15, 2013 2:50:27 PM
Rank: Member

Joined: 1/13/2011
Posts: 297
Location: Nairobi
the septic tank getting full almost on a weekly basis, lack of proper planning on landlords then you blame tenants
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mawinder
#34 Posted : Monday, April 15, 2013 2:58:49 PM
Rank: Elder

Joined: 4/30/2008
Posts: 6,029
254.co.ke wrote:
Did you @Mawinder say the management of these structures easy? You kidding!It has never been and it will never be a walk in the park to collect rent from the always disillusioned lot. However a trick that work is getting someone (of course reliable point man known to you from the same slums) and providing him with one such free room out of the 'estate' and voila, the rent collection puzzle is solved.
I have one of my boys from Gachie who can do the rent collection job efficiently at a commission.
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Elder
#35 Posted : Monday, April 15, 2013 3:06:04 PM
Rank: Elder

Joined: 9/7/2010
Posts: 2,148
Location: elderville
Foz00 wrote:
the septic tank getting full almost on a weekly basis, lack of proper planning on landlords then you blame tenants
Probably. Though meant every third week. The every week on average issue which I didn't mention is the blockages. The guys were flushing all manner of things down the toilets.
He who can express in words the ardour of his love, has but little love to express. - Petrach, Son. (That men by various ways arrive at the same end. - Montaigne, The Essays of.)
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mawinder
#36 Posted : Monday, April 15, 2013 3:17:24 PM
Rank: Elder

Joined: 4/30/2008
Posts: 6,029
Deleted
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Foz00
#37 Posted : Monday, April 15, 2013 3:39:58 PM
Rank: Member

Joined: 1/13/2011
Posts: 297
Location: Nairobi
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ChumsQuest
#38 Posted : Tuesday, April 16, 2013 8:18:50 AM
Rank: Member

Joined: 1/24/2013
Posts: 325
mawinder wrote:
Any wazuan who knows how I can own a plot in a slum?I hear the returns are enormous.Please share your insights.I am looking at Kawangware,Kayole,Kariobangi,Mukuru.
smile smile Mawinder, if you find a kaslum somewhere we can both jump on it. I've thought about this before my only worry is the end of the month when I have to get the rent out of that dude on the 7th floor who's blood ETOH level is 1.22 with chang'aa as the main culprit? How much are Property Management companies paid?Eh? Eh? Eh?
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mawinder
#39 Posted : Tuesday, April 16, 2013 9:12:51 AM
Rank: Elder

Joined: 4/30/2008
Posts: 6,029
ChumsQuest wrote:
mawinder wrote:
Any wazuan who knows how I can own a plot in a slum?I hear the returns are enormous.Please share your insights.I am looking at Kawangware,Kayole,Kariobangi,Mukuru.
smile smile Mawinder, if you find a kaslum somewhere we can both jump on it. I've thought about this before my only worry is the end of the month when I have to get the rent out of that dude on the 7th floor who's blood ETOH level is 1.22 with chang'aa as the main culprit? How much are Property Management companies paid?Eh? Eh? Eh?
In slums you need some rough guys to enforce rent collection and rules or if you are a licensed firearm holder the easier.Just walk into your property with the gun visibly displayed and spread rumours around that you are very dangerous and have killed several people before.Your tenants will always call you to collect the rent.I learnt this from the late Fai Amario.
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ChumsQuest
#40 Posted : Tuesday, April 16, 2013 9:39:47 AM
Rank: Member

Joined: 1/24/2013
Posts: 325
ChumsQuest wrote:
mawinder wrote:
Any wazuan who knows how I can own a plot in a slum?I hear the returns are enormous.Please share your insights.I am looking at Kawangware,Kayole,Kariobangi,Mukuru.
smile smile Mawinder, if you find a kaslum somewhere we can both jump on it. I've thought about this before my only worry is the end of the month when I have to get the rent out of that dude on the 7th floor who's blood ETOH level is 1.22 with chang'aa as the main culprit? How much are Property Management companies paid?Eh? Eh? Eh?
Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Mawinder you never seize to amaze me. Remember what I told you about the watch list by admin? AnyHoo, I think I need a bud like you. Tuongee kando ama?
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