Wazua
»
Investor
»
Property
»
4 family (3 bed/2bath) flat budget Ksh. 5m
Rank: Member Joined: 12/29/2006 Posts: 11 Location: Kisumu
|
chemos wrote:pyrex wrote:Fantastic job penny stocker the stones are beautiful where did you source from? am embarking on a similar project in Otonglo area just waiting for NEMA approval The stones look like KEDOWA stones.. Great Job penny stocker!. I like the workmanship and the pattern of the external masonry stones which is very similar to my 4 bed room maisonnete at Riat Hills (Kisumu). Completed the slab in Feb and just completed the walls for the upper floor. so far spent 2.2M on everything.Will take a 2 - 3 month break before embarking n the next phase- ring beam & wall plate and hope to do Decra roofing in October/November.
|
|
|
Rank: Veteran Joined: 2/3/2010 Posts: 1,797 Location: Kenya
|
Penny-Stocker wrote:digitek1 wrote:Penny-Stocker wrote:guru267 wrote:Be careful about your 5million cost.. It might leave little room for any margins to be had!
I know for a fact GOK is selling very spacious flats in Nairobi, Madaraka (3bed/2bath) for 7million...
If yours are located all the way in Kisumu it might be hard to charge an amount even close to this! I am not building to sell. It is an investment (retirement may be) I am 29yrs old and just want to secure my financial future 29 yrs too young to be building retirement home unless its the house you are going to be living in. why not buy more vacant plots in the area Digi, it's never too early to start planning for retirement...how about if I want to retire at 45 or 50 and travel our beautiful country - I'll be able to do that knowing that at the end of the month, I'll have cash in my bank account. Oh, not to mention that I'll be my own boss.  swallow my words and give a bow  I may be wrong..but then I could be right
|
|
|
Rank: Member Joined: 10/31/2010 Posts: 154
|
a4architect.com wrote:Penny-Stocker wrote:wilyum wrote:@Penny-Stocker , weka email hapa kuan maswali. u mean 6M u can do 4 houses and they are 3 bed-room?
@a4architect, is this possible in nairobi? Yes, I'm at just under 5m at the moment 4.7something.
I am yet to tile the floors, build cabinets and interior doors, weka vyo and paint To finish with the remainder of 1.3 m , you need to be extra careful since finishes and external works e.g gate,septic tank ,kplc, water tank,water connection,driveway, landscaping take 30 to 40% of costs. 30% of 4.7m is 1.4m. so it will slightly pass the 6m mark if cost saving features such as material specifications and labour utilisation are not done keenly. All KPLC is paid...just waiting for my 5 meters to be connected, septic tank was the first to be done kitambo! All I have left with, that's yet to be paid for are tile the floors, build cabinets and interior doors, weka vyo and paint! The exterior job will be finished mid next week latest! “None but ourselves can free our minds.”
- Bob Marley
|
|
|
Rank: Member Joined: 10/31/2010 Posts: 154
|
digitek1 wrote:Penny-Stocker wrote:digitek1 wrote:Penny-Stocker wrote:guru267 wrote:Be careful about your 5million cost.. It might leave little room for any margins to be had!
I know for a fact GOK is selling very spacious flats in Nairobi, Madaraka (3bed/2bath) for 7million...
If yours are located all the way in Kisumu it might be hard to charge an amount even close to this! I am not building to sell. It is an investment (retirement may be) I am 29yrs old and just want to secure my financial future 29 yrs too young to be building retirement home unless its the house you are going to be living in. why not buy more vacant plots in the area Digi, it's never too early to start planning for retirement...how about if I want to retire at 45 or 50 and travel our beautiful country - I'll be able to do that knowing that at the end of the month, I'll have cash in my bank account. Oh, not to mention that I'll be my own boss. swallow my words and give a bow It's okay @digi....I bet some people here on Wazua say they have projects kwa mdomo tu...why can't we all start posting our progress pics....! Anyway, planning another 6 units in about 2 years...land is secured. That'll give me 10 units and at least 250K every month in my pocket from rentals.....TAX FREE! “None but ourselves can free our minds.”
- Bob Marley
|
|
|
Rank: Member Joined: 10/31/2010 Posts: 154
|
chemos wrote:pyrex wrote:Fantastic job penny stocker the stones are beautiful where did you source from? am embarking on a similar project in Otonglo area just waiting for NEMA approval The stones look like KEDOWA stones.. Yes, Kedowa stones! “None but ourselves can free our minds.”
- Bob Marley
|
|
|
Rank: Member Joined: 11/6/2010 Posts: 289
|
great job when i grow up i want to be like you
|
|
|
Rank: Elder Joined: 11/28/2006 Posts: 1,799
|
Penny-Stocker wrote:chemos wrote:pyrex wrote:Fantastic job penny stocker the stones are beautiful where did you source from? am embarking on a similar project in Otonglo area just waiting for NEMA approval The stones look like KEDOWA stones.. Yes, Kedowa stones! I have a quarry churning out those stones... Ud be amazed they are used for buildings as far as Kakamega, bungoma.. the number of Shajanand trucks that ply the route tells it all.. Next time when building the 2nd investment let me know maybe i can supply you at a wazua rate...
|
|
|
Rank: Member Joined: 10/31/2010 Posts: 154
|
gotieno wrote:chemos wrote:pyrex wrote:Fantastic job penny stocker the stones are beautiful where did you source from? am embarking on a similar project in Otonglo area just waiting for NEMA approval The stones look like KEDOWA stones.. Great Job penny stocker!. I like the workmanship and the pattern of the external masonry stones which is very similar to my 4 bed room maisonnete at Riat Hills (Kisumu). Completed the slab in Feb and just completed the walls for the upper floor. so far spent 2.2M on everything.Will take a 2 - 3 month break before embarking n the next phase- ring beam & wall plate and hope to do Decra roofing in October/November. @gotieno......Congrats on the progress for your humble aboard! You'll ge there. The workmanship turned out really well and I hope yours turns out nice too.....I plan on putting mine up in about 4 years in Mamboleo as well....if I can find a decent piece of land at a good price!“None but ourselves can free our minds.”
- Bob Marley
|
|
|
Rank: Member Joined: 10/31/2010 Posts: 154
|
kiriita wrote:stocksmaster wrote:Penny-Stocker wrote:To all, like I said in my initial post, almost a year ago...it's never to early to start investing for your retirement! I'm only 29yrs and in about 4 months, I'll be collecting 120K from rent @30K per unit...on top of my 240K net salary (that's 360K)! Looking at putting up 6more units in a 5 years time, working for 5 more years after that....retirement at 40yrs! I'm loving this! Good one........so about Ksh 6M invested for a Ksh 120K monthly return (Ksh 1.44M per year). Thats about a gross return of 24% p.a.....not bad! You giving me ideas. Happy hunting. @ Penny stocker - very impressive. Two questions: One, what was the cost of the land? Two, isn't it time you changed your handle? Those ain't pennies no more, LoL! @kiriita.....Q1. I bought the land for 300K about 5 years ago.
Q2. I trade penny stocks hence the name....also, that's still pennies compared to some portfolios out there.“None but ourselves can free our minds.”
- Bob Marley
|
|
|
Rank: Member Joined: 10/31/2010 Posts: 154
|
XSK wrote:Penny-Stocker wrote:stocksmaster wrote:Penny-Stocker wrote:To all, like I said in my initial post, almost a year ago...it's never to early to start investing for your retirement! I'm only 29yrs and in about 4 months, I'll be collecting 120K from rent @30K per unit...on top of my 240K net salary (that's 360K)! Looking at putting up 6more units in a 5 years time, working for 5 more years after that....retirement at 40yrs! I'm loving this! Good one........so about Ksh 6M invested for a Ksh 120K monthly return (Ksh 1.44M per year). Thats about a gross return of 24% p.a.....not bad! You giving me ideas. Happy hunting. Na hiyo ni heasbu kamili! Asured return of at least 20%. Which bank gives that? None....! Na hiyo ni ni maendeleo! Penny-stocker Congratulations! That's fine piece of work @XSK.....muchas gracias amigo! It's been a lot of work “None but ourselves can free our minds.”
- Bob Marley
|
|
|
Rank: Elder Joined: 9/12/2006 Posts: 1,554
|
Heko bwana..hongera kwa kazi nzuri. It can be done courage, believe and focus
|
|
|
Rank: Veteran Joined: 3/25/2010 Posts: 939 Location: Nai
|
@Penny-Stocker congrats!
wazuans are such stones available in Nairobi?
|
|
|
Rank: Member Joined: 10/31/2010 Posts: 154
|
Jamani wrote:Heko bwana..hongera kwa kazi nzuri. It can be done courage, believe and focus @jamani....I call it mocus....motivation and focus “None but ourselves can free our minds.”
- Bob Marley
|
|
|
Rank: Member Joined: 10/31/2010 Posts: 154
|
jamplu wrote:@Penny-Stocker congrats!
wazuans are such stones available in Nairobi? @jamplu...much as gracias mi amigo! I don't know if you can get Kedowa stones in Nairobi of not. Ask around. “None but ourselves can free our minds.”
- Bob Marley
|
|
|
Rank: Member Joined: 10/31/2010 Posts: 154
|
gesowan wrote: great job when i grow up i want to be like you @gewosan....thanks, it's appreciated. Quick advice though....just be yourself...it's hard being somebody else.. “None but ourselves can free our minds.”
- Bob Marley
|
|
|
Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
|
Penny-Stocker, congrats. The Wazua community would appreciate your contribution on stocks too GOD BLESS YOUR LIFE
|
|
|
Rank: Member Joined: 10/31/2010 Posts: 154
|
youcan'tstopusnow wrote:Penny-Stocker, congrats. The Wazua community would appreciate your contribution on stocks too @youcan'tstopusnow....thanks! Regarding stocks....I'll chip in where I see fit. NSE is volatile and full of speculations. “None but ourselves can free our minds.”
- Bob Marley
|
|
|
Rank: Member Joined: 12/16/2008 Posts: 111
|
chemos wrote:I have a quarry churning out those stones... Ud be amazed they are used for buildings as far as Kakamega, bungoma.. the number of Shajanand trucks that ply the route tells it all.. Next time when building the 2nd investment let me know maybe i can supply you at a wazua rate... How can you be contacted?
|
|
|
Rank: Veteran Joined: 7/3/2007 Posts: 1,634
|
Penny-Stocker wrote:
....I bet some people here on Wazua say they have projects kwa mdomo tu...why can't we all start posting our progress pics....!
@Penny-Stocker: you might recall I started my project in Ruiru at about the same time as you did. Mine was a personal simba, not rental, although I am getting tempted. Three bedroom maisonette with one guest room on a quarter acre plot. I am not able to post photos, but I can report that it is all roofed. What remains are the fittings, finishes and septic tank. So far it has cost me just under 4M - all savings. I have learned many things. For instance while Decra roofing is more expensive than clay tiles you make up for the extra cost through reduced roofing timber, utility and presentability. Some wise people on this board have often said that, when it comes to a building project, the most difficult thing is to start. Wise words. Don't wait to have all your ducks in a row - just start and new problems will suggest new solutions as you go. The fundi I hired turned out to be a god-send. Very efficient and honest fellow. I am also planning to construct two more units same size in about a years time. Thank you to the Wazua family for the inspiration "The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
|
|
|
Rank: Member Joined: 10/31/2010 Posts: 154
|
Wakanyugi wrote:Penny-Stocker wrote:
....I bet some people here on Wazua say they have projects kwa mdomo tu...why can't we all start posting our progress pics....!
@Penny-Stocker: you might recall I started my project in Ruiru at about the same time as you did. Mine was a personal simba, not rental, although I am getting tempted. Three bedroom maisonette with one guest room on a quarter acre plot. I am not able to post photos, but I can report that it is all roofed. What remains are the fittings, finishes and septic tank. So far it has cost me just under 4M - all savings. I have learned many things. For instance while Decra roofing is more expensive than clay tiles you make up for the extra cost through reduced roofing timber, utility and presentability. Some wise people on this board have often said that, when it comes to a building project, the most difficult thing is to start. Wise words. Don't wait to have all your ducks in a row - just start and new problems will suggest new solutions as you go. The fundi I hired turned out to be a god-send. Very efficient and honest fellow. I am also planning to construct two more units same size in about a years time. Thank you to the Wazua family for the inspiration Good luck buddy! You definitely hit the nail on the head, starting is the hard part.....once the project is up, you $$$ priority shift because you have a project to complete! I am interested in seeing your house....looking for ideas about designing my own humble aboard. “None but ourselves can free our minds.”
- Bob Marley
|
|
|
Wazua
»
Investor
»
Property
»
4 family (3 bed/2bath) flat budget Ksh. 5m
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
|