Wazua
»
Groups
»
Advice
»
What to do with 2.4M
Rank: Member Joined: 6/21/2010 Posts: 345 Location: easto
|
Wazuans, I am anticipating getting this money(pooled funds and loan top up) and am torn between: 1. Buying a near-prime plot preferably in Eldy/Kitale (eighth 4 btn 1.5-1.7m) then the balance, I start constructing 1BR houses for rent. I am hoping to get rent of 6K-10K for such a house(estimate 300k per house, basic finish). My concern is the plot will take a huge chunk of the money just leaving me with a little to construct the houses, mayb 2 max. 2. Car import business - gathering more info(dollar issues really a turn off but experts please advice). I believe with 2.4m i can start with lower end cars and make some money before i decide whether to continue or once the 2.4 grows to 3.5m(I blv) I jump out and go for the rentals(seems like the thing i want to do). 3. Securing the plot 1st, for say 1.6M, then the balance I do what? - build 2 -2br units or start car import business with the about 800K - 1 low end car? "The problem with the world is that the intelligent people are full of doubts, while the stupid ones are full of confidence." ― Charles Bukowski
|
|
|
Rank: Veteran Joined: 7/22/2011 Posts: 1,325
|
Can I be honest with you? You are going to lose your money! Your language just says so coz you say things like I am hoping to get rent of, my concern is the plot will take a huge chunk, I believe with 2.4 M I can start, actually just re-read that sentence on lower end cars. You are betting on things going rosy, and have not made substantial research into what could go horribly wrong. Here's free advice, dont do anything with your money coz you clearly have not done any research. Wait for the market to tank then buy blue chips on the NSE. Take a quick look in FB groups and see how many people are trying to sell their cars, then look at how many replies if any they get?!
|
|
|
Rank: Elder Joined: 2/26/2012 Posts: 15,980
|
Nabwire wrote:Can I be honest with you? You are going to lose your money! Your language just says so coz you say things like I am hoping to get rent of, my concern is the plot will take a huge chunk, I believe with 2.4 M I can start, actually just re-read that sentence on lower end cars. You are betting on things going rosy, and have not made substantial research into what could go horribly wrong. Here's free advice, dont do anything with your money coz you clearly have not done any research. Wait for the market to tank then buy blue chips on the NSE. Take a quick look in FB groups and see how many people are trying to sell their cars, then look at how many replies if any they get?! Where have you been? I've been waiting for you to "wag your tail" on the highs that FB has been hitting  "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
|
|
|
Rank: Veteran Joined: 11/9/2009 Posts: 2,003
|
Do your homework: research.
For example, what sort of 1BR can cost 300k? Can you break that down?
|
|
|
Rank: Veteran Joined: 7/22/2011 Posts: 1,325
|
murchr wrote:Nabwire wrote:Can I be honest with you? You are going to lose your money! Your language just says so coz you say things like I am hoping to get rent of, my concern is the plot will take a huge chunk, I believe with 2.4 M I can start, actually just re-read that sentence on lower end cars. You are betting on things going rosy, and have not made substantial research into what could go horribly wrong. Here's free advice, dont do anything with your money coz you clearly have not done any research. Wait for the market to tank then buy blue chips on the NSE. Take a quick look in FB groups and see how many people are trying to sell their cars, then look at how many replies if any they get?! Where have you been? I've been waiting for you to "wag your tail" on the highs that FB has been hitting I'll let Zuckerberg do that
|
|
|
Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
|
When you are starting even the stock market may burn you and you lose all the money after such a effort.
I would say take 100K and invest in the market for purposes of learning and trade i.e. buy and sell till you feel you know the market.
The balance of 2.3M look for a plot that is likely to appreciate in pricing and easy to sell. Keep the plot for some time till you have a clear picture of your next investment after through research. In my opinion in two years you will be ready to make the next move and depending on where you bought the plot you may have a capital gain of 1 M.
Think about the words used in the statement and see you understand what they mean e.g. easy to likely to appreciate, easy to sell etc. , these may guide you thoughts.
Just my thoughts, remember you are the only one who will make the decision we can only suggest.
|
|
|
Rank: Member Joined: 6/21/2010 Posts: 345 Location: easto
|
Nabwire wrote:Can I be honest with you? You are going to lose your money! Your language just says so coz you say things like I am hoping to get rent of, my concern is the plot will take a huge chunk, I believe with 2.4 M I can start, actually just re-read that sentence on lower end cars. You are betting on things going rosy, and have not made substantial research into what could go horribly wrong. Here's free advice, dont do anything with your money coz you clearly have not done any research. Wait for the market to tank then buy blue chips on the NSE. Take a quick look in FB groups and see how many people are trying to sell their cars, then look at how many replies if any they get?! I have done some research, not exhaustive though, but I have some info. For the rents, those are the rates, going by the houses in the neighborhood of the plots I have seen. Yes, for the cars its kinda tricky, but I also know some people/colleagues who are selling and i wanted to use them to initially import- I know the type and quality of car really matters. What I don't have exhaustively is general information about the market, but working on it just in case I decide to go that route. I have been following the stocks thread, but I have never had guts. For stocks I need expert guidance, otherwise I know it will be kind of shooting in the dark. "The problem with the world is that the intelligent people are full of doubts, while the stupid ones are full of confidence." ― Charles Bukowski
|
|
|
Rank: Member Joined: 6/21/2010 Posts: 345 Location: easto
|
radio wrote:Do your homework: research.
For example, what sort of 1BR can cost 300k? Can you break that down? Ok, this is just a basic 1BR house(sitting rm, bedroom, kitchen and bathroom), plaster and paint inside, outside, mawe ya kuchongwa tu. No tiles on the floor. I got the rates from one fundi who had put some structures around one of the plots I saw. OK I am putting the cost at 400k, for 1 such unit. I hope to rent it out at 6k-7k p.m "The problem with the world is that the intelligent people are full of doubts, while the stupid ones are full of confidence." ― Charles Bukowski
|
|
|
Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
|
And how many units do you intent to build ?
|
|
|
Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
|
tnai9 wrote:radio wrote:Do your homework: research.
For example, what sort of 1BR can cost 300k? Can you break that down? Ok, this is just a basic 1BR house(sitting rm, bedroom, kitchen and bathroom), plaster and paint inside, outside, mawe ya kuchongwa tu. No tiles on the floor. I got the rates from one fundi who had put some structures around one of the plots I saw. OK I am putting the cost at 400k, for 1 such unit. I hope to rent it out at 6k-7k p.m 400k!!!! SMH...This is a structure,no ceiling, roof is that slanting shop like..no wiring & plumbing.. and rent is 6-7k. Anyway if those are the standards there fine. Some Fundi's are not accurate on costs. You may find the owner was doing in bits thus fundi estimates without actual figures.... Buy a few acres huko and farm well on them! If you get at least 3 ;Animal/dairy farm on one...another plant bluegum and another seasonal crops. A few yrs down line you'll have earned much and if will think of selling the whole farm your wealth will have trippled if not doubled. Thank me later. Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
|
|
|
Wazua
»
Groups
»
Advice
»
What to do with 2.4M
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.
|