wazua Sat, Apr 25, 2026
Welcome Guest Search | Active Topics | Log In

4 Pages123>»
Yet another project: (9 family 2bed/1bath) 10m budget
Options
Previous Topic · Next Topic
Penny-Stocker
#1 Posted : Wednesday, July 20, 2016 4:30:28 AM
Rank: Member

Joined: 10/31/2010
Posts: 154
Hi Wazua community! After a successful completion of this project (linked) Penny is off to yet another. This time, targeting the "middle class" in Kisumu with 2 bedroom/ 1bath units. 3 storey /3 units per floor totaling 9 units in all.Budget is KSh.10m/US$100K. My plans are stuck with NEMA as I type this...mambo za Kenya yetu. As always, I hope to provide frequent updates, sharing both success and challenges! Bank otuch!
Regards,
Penny!

Here are shots from last project!





“None but ourselves can free our minds.”
- Bob Marley
Back to top
  | | Edit by user: Wednesday, July 20, 2016 4:43 AM | Reason: Not specified
Pesa Nane
#2 Posted : Wednesday, July 20, 2016 6:43:23 PM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
Penny-Stocker wrote:
Hi Wazua community! After a successful completion of this project (linked) Penny is off to yet another. This time, targeting the "middle class" in Kisumu with 2 bedroom/ 1bath units. 3 storey /3 units per floor totaling 9 units in all.Budget is KSh.10m/US$100K. My plans are stuck with NEMA as I type this...mambo za Kenya yetu. As always, I hope to provide frequent updates, sharing both success and challenges! Bank otuch!
Regards,
Penny!

Here are shots from last project!







Must really feel nice Sickquot; to revel in the thought Angel "mhh, hizi nyumba zote ni zangu!" :d/ :d/

Bravo @Penny, you inspire us
Pesa Nane plans to be shilingi when he grows up.
Back to top
  |
Swenani
#3 Posted : Wednesday, July 20, 2016 7:25:36 PM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
Great @senti stocker, You came back at the right time...I have been thinking of putting up rentals too but in one of the towns in North rift on 1/4 plot....Torn between doing single rooms or one bedroom -Budget Kes 6M....Anticipated started date Dec 2016/Jan 2017

Btw, what is the size in M2 for one unit?
If Obiero did it, Who Am I?
Back to top
WWW
  | | Edit by user: Wednesday, July 20, 2016 7:44 PM | Reason: Not specified
Penny-Stocker
#4 Posted : Wednesday, July 20, 2016 8:01:01 PM
Rank: Member

Joined: 10/31/2010
Posts: 154
Pesa Nane wrote:
Penny-Stocker wrote:
Hi Wazua community! After a successful completion of this project (linked) Penny is off to yet another. This time, targeting the "middle class" in Kisumu with 2 bedroom/ 1bath units. 3 storey /3 units per floor totaling 9 units in all.Budget is KSh.10m/US$100K. My plans are stuck with NEMA as I type this...mambo za Kenya yetu. As always, I hope to provide frequent updates, sharing both success and challenges! Bank otuch!
Regards,
Penny!

Here are shots from last project!







Must really feel nice Sickquot; to revel in the thought Angel "mhh, hizi nyumba zote ni zangu!" :d/ :d/

Bravo @Penny, you inspire us


@Pesa Nane...what feels good is that someday I can say to hell with rat race and still know that I'll have cash coming in at the end of the month! Forever vacation!
“None but ourselves can free our minds.”
- Bob Marley
Back to top
  |
muganda
#5 Posted : Wednesday, July 20, 2016 8:33:32 PM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
Commendable increase in budget X2 from the last project; should take shorter to construct based on experience. Also smart satellite development instead of crowding Nbi.

What is the current rental yield per annum for project one?
Back to top
  |
Surething
#6 Posted : Wednesday, July 20, 2016 10:36:00 PM
Rank: New-farer

Joined: 7/12/2016
Posts: 39
Location: Nairobi
Congrats @Pennystocker your experiences documented on your previous project thread which I review very regularly convinced me to finally get my feet wet and invest in a 6 family three bedroom & two bath project on two storey's on a quarter of an acre in Busia. Already submitted the plans for approval but have had to undertake change of user from Agricultural land, once this is done I'm heading to NEMA & NCA. Hoping to break ground before the short rains inshalla.
Back to top
WWW
  |
mungaits
#7 Posted : Saturday, July 23, 2016 10:21:43 PM
Rank: Member

Joined: 9/20/2007
Posts: 252
Hi @Penny-Stocker, great work, hongera sana.

Any experience with bedsitters?

Cheers
Back to top
  |
obiero
#8 Posted : Saturday, July 23, 2016 10:31:34 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,318
Location: nairobi
mungaits wrote:
Hi @Penny-Stocker, great work, hongera sana.

Any experience with bedsitters?

Cheers

Good work brother..
COOP, IMH, KEGN, KQ, MTNU
Back to top
WWW
  |
MaichBlack
#9 Posted : Sunday, July 24, 2016 10:37:52 AM
Rank: Elder

Joined: 7/22/2009
Posts: 7,910
@Penny-Stocker

Applause Applause Applause Applause Applause Applause

Good job bro.

I also have a plan to do rentals at some point (Cash only. No mortgage!) and you will definitely be one of the people I will be talking to before embarking on the project. Nothing beats hands on experience! And there is no better advice than from someone with no vested interests.

All the best in your next project. I am sure this one will be much smoother - with all the acquired experience!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
Back to top
  |
Tara
#10 Posted : Thursday, July 28, 2016 6:03:11 PM
Rank: New-farer

Joined: 12/18/2012
Posts: 94
@Penny-Stocker, what is the size of this plot and the previous one?
Back to top
  |
4 Pages123>»
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.

Wazua Investor Theme
Powered by YAF | YAF © 2003-2009, Yet Another Forum.NET
Copyright © 2026 Wazua.co.ke. All Rights Reserved.