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Is Taking a Mortgage the WORST Decision Ever??
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knight026
#161 Posted : Friday, May 09, 2014 2:29:53 PM
Rank: New-farer

Joined: 1/3/2014
Posts: 32
OK so i assume we have no numbers for 10-20 years. I will work with 12% provided for the last 5 years. Now @MaichBlack mythical guy has only 100k a month. But we assume he has 6M all in the NSE. That will get him 720k.But hez above average. so he made 1.5M
If he went to msa 5 years back, bought 3 decent swahili houses, each giving a rent income of 15K,then he would have made 2.7M. I rest my case.
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MaichBlack
#162 Posted : Friday, May 09, 2014 2:38:03 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,910
knight026 wrote:
OK so i assume we have no numbers for 10-20 years. I will work with 12% provided for the last 5 years. Now @MaichBlack mythical guy has only 100k a month. But we assume he has 6M all in the NSE. That will get him 720k.But hez above average. so he made 1.5M
If he went to msa 5 years back, bought 3 decent swahili houses, each giving a rent income of 15K,then he would have made 2.7M. I rest my case.

Geez!!! What's up with you? I have given you a million links! Does your computer have a mouse?

Today alone I have given you the link below twice!!!

http://www.investinginafrica.net/african-stock-markets/african-stock-market-performance/

There is this one too!

MaichBlack wrote:
Visit the link below:

The rise and rise of Silent Billionaires in the NSE - Posted Thursday, July 4 2013


Among many others?

And I'm telling you to simply ask wazuans what % returns they have actually been making!! And a number have provided actual numbers. I have also given you links of people who document their plays real time and make more than 100% returns in a year and you have chosen to ignore all this!

I officially give up on you. You are not interested in facts! Not one bit. I presume you are bank 'sales executive'.
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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KulaRaha
#163 Posted : Friday, May 09, 2014 2:46:49 PM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
So, for comparison's sake, how much land would 1M buy in 2006, say in Kitengela or a good suburb in Nairobi? This is to compare like for like: a great NSE performer against a great plot.
Business opportunities are like buses,there's always another one coming
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knight026
#164 Posted : Friday, May 09, 2014 2:55:22 PM
Rank: New-farer

Joined: 1/3/2014
Posts: 32


The NSE index has made 12% returns over the past 5 years. That is what the average investor made over the period.[/quote]



I just quoted the economist. So maybe we start again, whoz numbers are correct?
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Fyatu
#165 Posted : Friday, May 09, 2014 3:02:37 PM
Rank: Veteran

Joined: 1/20/2011
Posts: 1,822
Location: Nakuru
The richest man in the world is not Donald Trump (real estate mogul) but the Oracle of Omaha ( Warren Buffet)
Dumb money becomes dumb only when it listens to smart money
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MaichBlack
#166 Posted : Friday, May 09, 2014 3:09:34 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,910
knight026 wrote:

knight026 wrote:


The NSE index has made 12% returns over the past 5 years. That is what the average investor made over the period.


I just quoted the economist. So maybe we start again, whoz numbers are correct?

Click the links provided!!!! Starting with the ones in post# 162 above! What is???
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Fyatu
#167 Posted : Friday, May 09, 2014 3:13:06 PM
Rank: Veteran

Joined: 1/20/2011
Posts: 1,822
Location: Nakuru
If you had 1 mirrion KES in 2004 and "cherry picked" Athi river mining you will now have 25 mirrion not forgetting the bonus/split

RINK
Dumb money becomes dumb only when it listens to smart money
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mungaits
#168 Posted : Friday, May 09, 2014 3:13:53 PM
Rank: Member

Joined: 9/20/2007
Posts: 252
Many thanks to @mukiri, @chemos and @angelic for sober, practical and real life insights.

I think some of the contributors are losing the focus of the discussion, the issue here is merits and demerits of mortgage plus ways to make mortgage work for you.

Hii maneno ya shares or buying buroti (plus lots of hypothetical google supported analysis) are better than mortgages are really not relevant in this discussion.

No one is disputing that shares na buroti can make you a billionaire but in this discussion its not helping. My suugestion, move the shares maneno to another thread and let the relevant comments continue here on issues to do with mortgages.

My personal take, just took an approx 3.8m mortgage for an apartment off Msa road, monthly repayment is around 50k.(potential rent of 25 - 30k) My plan is to pay it off in max 5 yrs and get another one in a "posher" address as my income hopefully adjusts upwards.

Kwa hayo machache asanteni.

NB no matusi
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MaichBlack
#169 Posted : Friday, May 09, 2014 3:17:38 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,910
Note: This thread is not about Stocks vs Real Estate. It's about mortgages and whether they make any economic sense whatsoever. The question is, if you were to invest the money you spend on monthly payments, would you be better off?

"Invest" here is not limited to stocks!

Personally I invest in both stocks and real estate [undeveloped plots].

Biggest surprise from this thread: People imagining a 25% annual return is "mythical". What would one be doing in wazua if their target is 12%? You need wazua(ns) to make 12%? Eish!!!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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MaichBlack
#170 Posted : Friday, May 09, 2014 3:21:48 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,910
KulaRaha wrote:
So, for comparison's sake, how much land would 1M buy in 2006, say in Kitengela or a good suburb in Nairobi? This is to compare like for like: a great NSE performer against a great plot.

The issue here is "Investing" vs mortgage. You can invest in a good plot if you get one. Or stocks if you have good picks. Or wherever else.

I also invest in real estate. I have discussed this in in this forum over and over.

Question is - Do mortgages [vis-a-vis investments] make any economic sense??
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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