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Owning a home with 30k? possible in Kenya?
Rank: Veteran Joined: 1/4/2010 Posts: 1,668 Location: nairobi
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Sucasa. Check out the 18m2 unit http://www.suraya.co.ke/...asa-mombasa-road?start=9As Iron Sharpens Iron, So one Man Sharpens Another.
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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@webish, just travel to a place called zimmerman in a city called Nairobi. There, you will get plot agents who will show you sub-division plots (5m x 6.6m = 33m2) that range from 300k - 600k. From there, contribute 135k for foundation, then 200k for every completely complete floor. So, for kes1.2m, and you took the 600k plot, you will be on second floor (i.e. 3No. 1 bedroom apartments). Since you are a millionaire and CAN NEVER stay there, rent out at 8k each, thats 24k p.m. The other 3 floors will build themselves. Am speaking out of experience, mine is under construction just behind Home Depot supermarket, you can visit there and see it. Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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guru267 wrote:dunkang wrote:guru267 wrote:dunkang wrote:Am just curious, are wazuans advicing someone to buy a 15m2 apartment for KES1M? Along mombasa road?  Hata na dawa, siwezi nunua! Even if you rent out the unit for 8k you will still making a 12% yield... That's a perfect investment if you ask me! I'm sure in 2018 guys will be paying more than 2.5M for these things... Bandika hiyo hesabu hapa! You also assume that tenants will be lining up for them, mmh? There are far much sweeter ways to waste 1.2M. 8k*12months = 96k 96k/900k = 12% approx. 8k is very conservative because I charge 9k for my SQ in south C! I,d agree with you on this one the return isnt bad then there is the appreciation bit...killing two birds with one stone possunt quia posse videntur
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Rank: Veteran Joined: 1/4/2010 Posts: 1,668 Location: nairobi
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dunkang wrote:@webish, just travel to a place called zimmerman in a city called Nairobi. There, you will get plot agents who will show you sub-division plots (5m x 6.6m = 33m2) that range from 300k - 600k. From there, contribute 135k for foundation, then 200k for every completely complete floor.
So, for kes1.2m, and you took the 600k plot, you will be on second floor (i.e. 3No. 1 bedroom apartments). Since you are a millionaire and CAN NEVER stay there, rent out at 8k each, thats 24k p.m. The other 3 floors will build themselves.
Am speaking out of experience, mine is under construction just behind Home Depot supermarket, you can visit there and see it. @dunkang..thats a very good idea. Such a pooling resources method presents the most economical method to invest in real estate in Kenya. These guys here are looking for partners whom they can team up and realize/implement such a project. http://a4architect.com/d.../topic/joint-investment/As Iron Sharpens Iron, So one Man Sharpens Another.
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Rank: Member Joined: 6/21/2010 Posts: 345 Location: easto
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dunkang wrote:@webish, just travel to a place called zimmerman in a city called Nairobi. There, you will get plot agents who will show you sub-division plots (5m x 6.6m = 33m2) that range from 300k - 600k. From there, contribute 135k for foundation, then 200k for every completely complete floor.
So, for kes1.2m, and you took the 600k plot, you will be on second floor (i.e. 3No. 1 bedroom apartments). Since you are a millionaire and CAN NEVER stay there, rent out at 8k each, thats 24k p.m. The other 3 floors will build themselves.
Am speaking out of experience, mine is under construction just behind Home Depot supermarket, you can visit there and see it. If true, thats is very encouraging. That translates to Ksh 5,236,363.64 per 40*80. I thought The value of 40*80 around home depo should be in the range of 8-10M! When you pay the 600K what are you given? more info please, am immediately interested "The problem with the world is that the intelligent people are full of doubts, while the stupid ones are full of confidence." ― Charles Bukowski
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Rank: Member Joined: 10/19/2009 Posts: 671 Location: Nairobi
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dunkang wrote:@webish, just travel to a place called zimmerman in a city called Nairobi. There, you will get plot agents who will show you sub-division plots (5m x 6.6m = 33m2) that range from 300k - 600k. From there, contribute 135k for foundation, then 200k for every completely complete floor.
So, for kes1.2m, and you took the 600k plot, you will be on second floor (i.e. 3No. 1 bedroom apartments). Since you are a millionaire and CAN NEVER stay there, rent out at 8k each, thats 24k p.m. The other 3 floors will build themselves.
Am speaking out of experience, mine is under construction just behind Home Depot supermarket, you can visit there and see it. Excellent. But this only works if you pull resources, no lone rangers. (not sure if he/she is ready for this kind of arrangement). I personally prefer pulling resources.Good idea for the poster, and myself. Thx.
Life is joy, death is peace, but the transition is very difficult.
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Rank: Member Joined: 6/21/2010 Posts: 345 Location: easto
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webish wrote:dunkang wrote:@webish, just travel to a place called zimmerman in a city called Nairobi. There, you will get plot agents who will show you sub-division plots (5m x 6.6m = 33m2) that range from 300k - 600k. From there, contribute 135k for foundation, then 200k for every completely complete floor.
So, for kes1.2m, and you took the 600k plot, you will be on second floor (i.e. 3No. 1 bedroom apartments). Since you are a millionaire and CAN NEVER stay there, rent out at 8k each, thats 24k p.m. The other 3 floors will build themselves.
Am speaking out of experience, mine is under construction just behind Home Depot supermarket, you can visit there and see it. Excellent. But this only works if you pull resources, no lone rangers. (not sure if he/she is ready for this kind of arrangement). I personally prefer pulling resources.Good idea for the poster, and myself. Thx. with the resource pooling, how many people will be involved? "The problem with the world is that the intelligent people are full of doubts, while the stupid ones are full of confidence." ― Charles Bukowski
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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@Tnai9, The plots are 75x50 fts divided into 10 sub-plots and common corridor (i.e 75 feet /5 plots on both sides and the width is 50fts (20fts x 2 sub plots + 10fts common space). Mine i bought for 575k in 2011, just behind home depo next to the ka-river but we started building in April due to the other fellows kujikokota and the rent there is actually more. For 500k, in jan 2013, zilikuwa mingi sana but inside kiasi. 300k ni huko nyuma ya Roysambu primary school. Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Member Joined: 6/21/2010 Posts: 345 Location: easto
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dunkang wrote:@Tnai9, The plots are 75x50 fts divided into 10 sub-plots and common corridor (i.e 75 feet /5 plots on both sides and the width is 50fts (20fts x 2 sub plots + 10fts common space).
Mine i bought for 575k in 2011, just behind home depo next to the ka-river but we started building in April due to the other fellows kujikokota and the rent there is actually more. For 500k, in jan 2013, zilikuwa mingi sana but inside kiasi. 300k ni huko nyuma ya Roysambu primary school. Nitaenda huko this weekend. Just been hearing of co-owning, i see the opportunity. I was thinking getting an acre in thika/kajiado and hoard for selling "The problem with the world is that the intelligent people are full of doubts, while the stupid ones are full of confidence." ― Charles Bukowski
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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a4architect.com wrote:[quote=dunkang]@webish, just travel to a place called zimmerman in a city called Nairobi. There, you will get plot agents who will show you sub-division plots (5m x 6.6m = 33m2) that range from 300k - 600k. From there, contribute 135k for foundation, then 200k for every completely complete floor.
So, for kes1.2m, and you took the 600k plot, you will be on second floor (i.e. 3No. 1 bedroom apartments). Since you are a millionaire and CAN NEVER stay there, rent out at 8k each, thats 24k p.m. The other 3 floors will build themselves.
Am speaking out of experience, mine is under construction just behind Home Depot supermarket, you can visit there and see it. @dunkang..thats a very good idea. Such a pooling resources method presents the most economical method to invest in real estate in Kenya. These guys here are looking for partners whom they can team up and realize/implement such a project. http://a4architect.com/d...topic/joint-investment/[/quote] @a4architect what if simeone has land around mlolongo an eigth and cabt manage to build...would this pulling of resources work for him so that he gets something small every end month or a lump some gain... possunt quia posse videntur
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Rank: Member Joined: 10/19/2009 Posts: 671 Location: Nairobi
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@dunkang Do you get titles for that size of plot? Or how does co-owning work? Proof of ownership?
Life is joy, death is peace, but the transition is very difficult.
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Rank: Member Joined: 2/7/2013 Posts: 447 Location: Nairobi
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dunkang wrote:Am just curious, are wazuans advicing someone to buy a 15m2 apartment for KES1M? Along mombasa road? Hata na dawa, siwezi nunua! I think these people are using the new technique for blocks not stones. They are much cheaper unlike stones...have been following a group called 'affordable construction' on facebook, and sure if whatever they are talking about is true, then owning a house will be much cheaper thank taking that mortgage, esp if u already have a ploti You cant win, unless you first begin....
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Rank: Member Joined: 10/19/2009 Posts: 671 Location: Nairobi
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@Meduza , for Suraya, I know they are using stone. And They get chinese contractors. Like their other projects. But I know the scale is what makes it "make sense". Within a very small area, they are able to put up so many units...
Life is joy, death is peace, but the transition is very difficult.
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Rank: Veteran Joined: 1/4/2010 Posts: 1,668 Location: nairobi
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maka wrote:a4architect.com wrote:[quote=dunkang]@webish, just travel to a place called zimmerman in a city called Nairobi. There, you will get plot agents who will show you sub-division plots (5m x 6.6m = 33m2) that range from 300k - 600k. From there, contribute 135k for foundation, then 200k for every completely complete floor.
So, for kes1.2m, and you took the 600k plot, you will be on second floor (i.e. 3No. 1 bedroom apartments). Since you are a millionaire and CAN NEVER stay there, rent out at 8k each, thats 24k p.m. The other 3 floors will build themselves.
Am speaking out of experience, mine is under construction just behind Home Depot supermarket, you can visit there and see it. @dunkang..thats a very good idea. Such a pooling resources method presents the most economical method to invest in real estate in Kenya. These guys here are looking for partners whom they can team up and realize/implement such a project. http://a4architect.com/d...topic/joint-investment/[/quote] @a4architect what if simeone has land around mlolongo an eigth and cabt manage to build...would this pulling of resources work for him so that he gets something small every end month or a lump some gain... @maka. Simply start a topic with such a headline here and wait for other people to get interested in it. Your plot value will form your contribution. You will get units same as plot value contribution. http://a4architect.com/discuss/As Iron Sharpens Iron, So one Man Sharpens Another.
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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a4architect.com wrote:maka wrote:[quote=a4architect.com][quote=dunkang]@webish, just travel to a place called zimmerman in a city called Nairobi. There, you will get plot agents who will show you sub-division plots (5m x 6.6m = 33m2) that range from 300k - 600k. From there, contribute 135k for foundation, then 200k for every completely complete floor.
So, for kes1.2m, and you took the 600k plot, you will be on second floor (i.e. 3No. 1 bedroom apartments). Since you are a millionaire and CAN NEVER stay there, rent out at 8k each, thats 24k p.m. The other 3 floors will build themselves.
Am speaking out of experience, mine is under construction just behind Home Depot supermarket, you can visit there and see it. @dunkang..thats a very good idea. Such a pooling resources method presents the most economical method to invest in real estate in Kenya. These guys here are looking for partners whom they can team up and realize/implement such a project. http://a4architect.com/d...topic/joint-investment/[/quote] @a4architect what if simeone has land around mlolongo an eigth and cabt manage to build...would this pulling of resources work for him so that he gets something small every end month or a lump some gain... @maka. Simply start a topic with such a headline here and wait for other people to get interested in it. Your plot value will form your contribution. You will get units same as plot value contribution. http://a4architect.com/discuss/[/quote] Thanx boss whats your email if i want to get in touch... possunt quia posse videntur
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Rank: Veteran Joined: 1/4/2010 Posts: 1,668 Location: nairobi
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info@a4architect.comAs Iron Sharpens Iron, So one Man Sharpens Another.
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Rank: Member Joined: 12/9/2008 Posts: 43
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8k*12months = 96k 96k/900k = 12% approx. 8k is very conservative because I charge 9k for my SQ in south C!   Msafara wa mamba burukenge hawakosi![/b]
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