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Safaricom Investment Cooperative
murchr
#261 Posted : Tuesday, September 01, 2015 6:10:40 PM
Rank: Elder


Joined: 2/26/2012
Posts: 15,979
streetwise wrote:
And to the benefit of Wazuans do you know the people who make money in all these Sacco deals are the officials/mamagers.

The plots are always over priced at purchase since no one will question and members will run in to buy the small pieces of land as if they were free.


Are you trying to say, the costs and sales are not indicated in financial books?
"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
.
Othelo
#262 Posted : Tuesday, September 01, 2015 8:45:41 PM
Rank: User


Joined: 1/20/2014
Posts: 3,528
murchr wrote:
streetwise wrote:
And to the benefit of Wazuans do you know the people who make money in all these Sacco deals are the officials/managers.

The plots are always over priced at purchase since no one will question and members will run in to buy the small pieces of land as if they were free.


Are you trying to say, the costs and sales are not indicated in financial books?

Common knowledge plus brokers who are their cronnies!!!
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
Kingotore
#263 Posted : Thursday, September 03, 2015 8:38:35 PM
Rank: New-farer


Joined: 12/27/2013
Posts: 87
Sic now selling plots on daily instalment and most of them are fully booked including Narok which has high demand. 0% on deposit. Www.sic.co.ken
GOOD TO GREAT. KINGOTORE
murchr
#264 Posted : Friday, September 04, 2015 3:45:19 PM
Rank: Elder


Joined: 2/26/2012
Posts: 15,979
Othelo wrote:
murchr wrote:
streetwise wrote:
And to the benefit of Wazuans do you know the people who make money in all these Sacco deals are the officials/managers.

The plots are always over priced at purchase since no one will question and members will run in to buy the small pieces of land as if they were free.


Are you trying to say, the costs and sales are not indicated in financial books?

Common knowledge plus brokers who are their cronnies!!!


In every market, the broker gets his cut...even when trading in shares...shida iko wapi?
"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
.
Othelo
#265 Posted : Friday, September 04, 2015 4:11:41 PM
Rank: User


Joined: 1/20/2014
Posts: 3,528
murchr wrote:
Othelo wrote:
murchr wrote:
streetwise wrote:
And to the benefit of Wazuans do you know the people who make money in all these Sacco deals are the officials/managers.

The plots are always over priced at purchase since no one will question and members will run in to buy the small pieces of land as if they were free.


Are you trying to say, the costs and sales are not indicated in financial books?

Common knowledge plus brokers who are their cronnies!!!


In every market, the broker gets his cut...even when trading in shares...shida iko wapi?


Aish boss, you want to tell me you don’t know what goes on, like for real. What these guys/groups do is agree on the correct price, then put broker commission and then markup for officials both main board and supervisory committee. The inflated cost is then transferred to members who purchase the land after sub-division.

So shida is the money pocketed by the officials.

Of course all the transactions are facilitated by corrupt lawyers.
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
Gathige
#266 Posted : Friday, September 04, 2015 5:27:54 PM
Rank: Elder


Joined: 3/29/2011
Posts: 2,242
Othelo wrote:
murchr wrote:
Othelo wrote:
murchr wrote:
streetwise wrote:
And to the benefit of Wazuans do you know the people who make money in all these Sacco deals are the officials/managers.

The plots are always over priced at purchase since no one will question and members will run in to buy the small pieces of land as if they were free.


Are you trying to say, the costs and sales are not indicated in financial books?

Common knowledge plus brokers who are their cronnies!!!


In every market, the broker gets his cut...even when trading in shares...shida iko wapi?


Aish boss, you want to tell me you don’t know what goes on, like for real. What these guys/groups do is agree on the correct price, then put broker commission and then markup for officials both main board and supervisory committee. The inflated cost is then transferred to members who purchase the land after sub-division.

So shida is the money pocketed by the officials.

Of course all the transactions are facilitated by corrupt lawyers.



@Othelo, kuwa mpole ndugu. Not all lawyers are corrupt. They put on paper what the officials tell them.
"Things that matter most must never be at the mercy of things that matter least." Goethe
enyands
#267 Posted : Friday, September 04, 2015 7:38:56 PM
Rank: Elder


Joined: 12/25/2014
Posts: 2,300
Location: kenya
Gathige wrote:
Othelo wrote:
murchr wrote:
Othelo wrote:
murchr wrote:
streetwise wrote:
And to the benefit of Wazuans do you know the people who make money in all these Sacco deals are the officials/managers.

The plots are always over priced at purchase since no one will question and members will run in to buy the small pieces of land as if they were free.


Are you trying to say, the costs and sales are not indicated in financial books?

Common knowledge plus brokers who are their cronnies!!!


In every market, the broker gets his cut...even when trading in shares...shida iko wapi?


Aish boss, you want to tell me you don’t know what goes on, like for real. What these guys/groups do is agree on the correct price, then put broker commission and then markup for officials both main board and supervisory committee. The inflated cost is then transferred to members who purchase the land after sub-division.

So shida is the money pocketed by the officials.

Of course all the transactions are facilitated by corrupt lawyers.



@Othelo, kuwa mpole ndugu. Not all lawyers are corrupt. They put on paper what the officials tell them.


Seems you are a lawyer Laughing out loudly
murchr
#268 Posted : Saturday, September 05, 2015 5:10:21 AM
Rank: Elder


Joined: 2/26/2012
Posts: 15,979
Othelo wrote:
murchr wrote:
Othelo wrote:
murchr wrote:
streetwise wrote:
And to the benefit of Wazuans do you know the people who make money in all these Sacco deals are the officials/managers.

The plots are always over priced at purchase since no one will question and members will run in to buy the small pieces of land as if they were free.


Are you trying to say, the costs and sales are not indicated in financial books?

Common knowledge plus brokers who are their cronnies!!!


In every market, the broker gets his cut...even when trading in shares...shida iko wapi?


Aish boss, you want to tell me you don’t know what goes on, like for real. What these guys/groups do is agree on the correct price, then put broker commission and then markup for officials both main board and supervisory committee. The inflated cost is then transferred to members who purchase the land after sub-division.

So shida is the money pocketed by the officials.

Of course all the transactions are facilitated by corrupt lawyers.


What you have described up here is what you('d )do lets not assume everyone does it. But broker kila mahali lazima akule. Iwe ni broker wa NSE (pump dump) ama broker wa kuuza nyumba na mashamba.
"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
.
Bachuma Gate
#269 Posted : Saturday, September 05, 2015 8:06:04 AM
Rank: Member


Joined: 3/26/2012
Posts: 280
People. Before you buy land. See the original title, see the beacons and compare with the deed plan. Involve a lawyer and a surveyor.
DOH
Othelo
#270 Posted : Saturday, September 05, 2015 11:20:18 AM
Rank: User


Joined: 1/20/2014
Posts: 3,528
murchr wrote:
Othelo wrote:
murchr wrote:
Othelo wrote:
murchr wrote:
streetwise wrote:
And to the benefit of Wazuans do you know the people who make money in all these Sacco deals are the officials/managers.

The plots are always over priced at purchase since no one will question and members will run in to buy the small pieces of land as if they were free.


Are you trying to say, the costs and sales are not indicated in financial books?

Common knowledge plus brokers who are their cronnies!!!


In every market, the broker gets his cut...even when trading in shares...shida iko wapi?


Aish boss, you want to tell me you don’t know what goes on, like for real. What these guys/groups do is agree on the correct price, then put broker commission and then markup for officials both main board and supervisory committee. The inflated cost is then transferred to members who purchase the land after sub-division.

So shida is the money pocketed by the officials.

Of course all the transactions are facilitated by corrupt lawyers.


What you have described up here is what you('d )do lets not assume everyone does it. But broker kila mahali lazima akule. Iwe ni broker wa NSE (pump dump) ama broker wa kuuza nyumba na mashamba.


When I encountered my first such transaction 2003, I thought it was a random case. However, many years down the line and having seen this with over 30 transactions cutting across mixed bug of SACCOs, I have concluded that it is rampant thieving by official across board…. Majority are into this type of stealing.
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
Pirate
#271 Posted : Monday, September 07, 2015 9:58:44 AM
Rank: Member


Joined: 4/4/2007
Posts: 91
The process of land acquisition with brokers etc and due diligence is more costly than direct purchase from land owner.Additionally , there's a mark up for profit margin on the land . So question is , do you want to be on the side of people complaining about the relatively (but justifiably ) higher prices or a shareholder accruing the benefits from the ongoing rush?
Knowledge is power , but action gets things done ...
The optimist
#272 Posted : Wednesday, September 23, 2015 12:05:12 PM
Rank: Member


Joined: 6/14/2010
Posts: 520
Location: Nairobi
SIC introduces Paybill for share purchase
jerry
#273 Posted : Wednesday, September 23, 2015 7:42:23 PM
Rank: Elder


Joined: 9/29/2006
Posts: 2,570
The optimist wrote:
SIC introduces Paybill for share purchase

Details please? How do I register as a member or it's the same way through an existing member by introduction?
The opposite of courage is not cowardice, it's conformity.
jerry
#274 Posted : Wednesday, September 23, 2015 7:45:25 PM
Rank: Elder


Joined: 9/29/2006
Posts: 2,570
jerry wrote:
The optimist wrote:
SIC introduces Paybill for share purchase

Details please? How do I register as a member or it's the same way through introduction by an already registered member?

The opposite of courage is not cowardice, it's conformity.
quicksand
#275 Posted : Wednesday, September 23, 2015 8:01:00 PM
Rank: Veteran


Joined: 7/5/2010
Posts: 2,061
Location: Nairobi
Pirate wrote:
The process of land acquisition with brokers etc and due diligence is more costly than direct purchase from land owner.Additionally , there's a mark up for profit margin on the land . So question is , do you want to be on the side of people complaining about the relatively (but justifiably ) higher prices or a shareholder accruing the benefits from the ongoing rush?


The value will eventually exceed the cost + markup ...it is a lower risk..cause the day you rush and hand money over for a shifty one you are wiped out 100%. The thought of someone pocketing like one point fae or two mirrion of my money and disappearing into the thin air...ama you get into disputes where you are going to stop a bullet? Too painful.
Still, each to his own. Let the intrepid and the brave stake out their necks and reap fat rewards. May God bless the work of your hands.
murchr
#276 Posted : Thursday, October 01, 2015 4:09:27 AM
Rank: Elder


Joined: 2/26/2012
Posts: 15,979
.
"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
.
mugo2of3
#277 Posted : Thursday, October 01, 2015 8:37:25 AM
Rank: New-farer


Joined: 5/22/2014
Posts: 78
I have looked around for land in SACCO investment cooperatives, including Stima, Yes, etc, most are online. I am compelled to agree with majority of the posters here that most are over-priced.

Move from ICOs to land-buying companies like PRC (flavor of Classic 105) and the price becomes exorbitant.

This is fueled by a supply-demand chain with the later being composed of a lazy middle-class.
The point of risk is valid but also commensurate with likely returns on future value.

To make money on land through ICOs, be among the 1st few when the officials and staff appetite for easy money has not grown much.

My two cents
C3PO
#278 Posted : Saturday, October 31, 2015 12:34:05 AM
Rank: Hello


Joined: 10/31/2015
Posts: 3
Location: Nairobi
Hello honourable members of Wazua Family. An old friend, from the days of StocksKenya, is happy to be reborn as a Wazualet. Just out of curiosity, has anyone recently (within Oct 2015) sold their SIC shares? What was the price offered? I can't seem to get any shares despite repeatedly bidding the max allowed price, KES 350.
enyands
#279 Posted : Saturday, October 31, 2015 2:03:31 AM
Rank: Elder


Joined: 12/25/2014
Posts: 2,300
Location: kenya
C3PO wrote:
Hello honourable members of Wazua Family. An old friend, from the days of StocksKenya, is happy to be reborn as a Wazualet. Just out of curiosity, has anyone recently (within Oct 2015) sold their SIC shares? What was the price offered? I can't seem to get any shares despite repeatedly bidding the max allowed price, KES 350.


Email this lady she is very helpful . sopiyo@Safaricom.co.ke
+254722005627 I purchased the shares through her and she can guide you on how to get them. If you can't find her ask for George njenga on the same number
MaichBlack
#280 Posted : Saturday, October 31, 2015 10:51:33 AM
Rank: Elder


Joined: 7/22/2009
Posts: 7,447
enyands wrote:
C3PO wrote:
Hello honourable members of Wazua Family. An old friend, from the days of StocksKenya, is happy to be reborn as a Wazualet. Just out of curiosity, has anyone recently (within Oct 2015) sold their SIC shares? What was the price offered? I can't seem to get any shares despite repeatedly bidding the max allowed price, KES 350.


Email this lady she is very helpful . sopiyo@Safaricom.co.ke
+254722005627 I purchased the shares through her and she can guide you on how to get them. If you can't find her ask for George njenga on the same number

I thought you could buy directly from SIC. OR they closed share sales???

I am still planning to get in some time next year.
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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