hardwood wrote:Mujiza wrote:MugundaMan wrote:Mujiza wrote:
I have a plot at one project of Optiven Kenya. Let me tell you I really really regret buying that.
Maybe I should do something with that plot to earn some money to stop all this regret.
The problem is that it is in the middle of nowhere.
Optiven Acacia/ any of the Victory Gardens? If yes, please sell it to me now braddah you do not know what you are sitting on! All of Optiven's plots are seriously serviced including murram roads, perimeter fence, gate, landscaping/trees, water power and caretaker!
No is not Victory gardens. It's those along Namanga road. Very remote area. Sheikina gardens they call it.
Have seen their website. Plot is 80km from nairobi in the middle of the kajiado bush. I think its only the plot sellers who are making money coz they buy the bush at 500k per acre then subdivide and sell at 750k (price on their website). NB 1 acre produces 7 plots za 50x100, thus they make a profit of 4.5m per acre as you are left holding the bush.
I advocate buying land but not in the middle of nowhere. Better to buy the kaploti in naivasha which is also about 80km from the city, and more developed.
Hardwood,
To quote our good friend Wukan
to each their own and let everyone stay in their lane. That is
YOUR strategy above. Others have their own strategy. You say the only people that make money are the subdividers. Where is the evidence of this? Ask anyone who bought a sacco plot
ANYWHERE in the 1990s and early 2000s whether they made money (either from resale or capital improvements) and you will find your statement is in gross error. Naivasha is also a nice area to invest, but has its own dynamics including pricing and so on that differs greatly from dustbowl.
Also, real estate investment
anywhere in Kenya has its benefits. If Mugundaman decides to buy 100 acres in the middle of Mailua surrounded by elephants, you can't say that it's a "bad" investment based on your own personal preferences and strategies. For example, to you it might look like a terrible investment but perhaps he has some knowledge and insight that you may not have.
-Perhaps he wants to turn it into a tortoise sanctuary and charge tourists good money to see it
- Or farm cactus and sell bottled cactus juice to Chandarana, as I saw plot owners in Laikipia doing locally
- Or start an estate for devotees of Indian Yoga from all over the world
-Or a free boarding school for children of remandees with strict focus on metalworking
- Or pull an atwoli and build an expansive manse and ranch
to keep a concubine very happy there (not my style though)
- Or farm acacia trees because he enjoys climbing them for no good reason
- Or fence it and breed rats just for the fun of it.
- Or perhaps he knows there is undiscovered oil or rubies deep below.
Bottom line one cannot say a real estate investment done with due diligence and with proper title in hand is "bad" without giving some credible evidence, especially on the specifics as mentioned above. And those hidden specifics cannot be known let alone discussed on anonymous online forums like wazoo IMHO.