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Edermann property
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winmak
#91 Posted : Thursday, October 25, 2018 6:49:04 PM
Rank: Member

Joined: 12/1/2007
Posts: 539
Location: Nakuru
Todays Nation, offering Greatwall 2 for 3 million. I am very interested but ....
1. What is the level of satisfaction of those in GW 1
2. Is this new property next to the Industries et al with possible issues in future?
3. Seefar is going down after a similar blitz sale back in 2013/4, is there something I am not seeing?

Would appreciate advice before I sign the dotted line
For investors as a whole, returns decrease as motion increases ~ WB
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Pesa Nane
#92 Posted : Thursday, October 25, 2018 8:48:33 PM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
winmak wrote:
Todays Nation, offering Greatwall 2 for 3 million. I am very interested but ....
1. What is the level of satisfaction of those in GW 1
2. Is this new property next to the Industries et al with possible issues in future?
3. Seefar is going down after a similar blitz sale back in 2013/4, is there something I am not seeing?

Would appreciate advice before I sign the dotted line



Pesa Nane plans to be shilingi when he grows up.
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winmak
#93 Posted : Friday, October 26, 2018 11:05:14 AM
Rank: Member

Joined: 12/1/2007
Posts: 539
Location: Nakuru
Pesa Nane wrote:
winmak wrote:
Todays Nation, offering Greatwall 2 for 3 million. I am very interested but ....
1. What is the level of satisfaction of those in GW 1
2. Is this new property next to the Industries et al with possible issues in future?
3. Seefar is going down after a similar blitz sale back in 2013/4, is there something I am not seeing?

Would appreciate advice before I sign the dotted line





Clarification please @Pesanane
For investors as a whole, returns decrease as motion increases ~ WB
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maka
#94 Posted : Friday, October 26, 2018 2:53:47 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
hardwood wrote:
Stiffler wrote:
So, guys buy houses opposite an existing distillery. Then later on want the distillery closed coz it's interfering with their ambience...?!

Who found who...?!

Others bought next to the 70yr old ruai sewerage and the 50yr old Thika leather factory and also now want the facilities closed. You'd expect they'd have done a site visit before buying.



Wanaitwa wakenya... 😊
possunt quia posse videntur
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radio
#95 Posted : Friday, October 26, 2018 4:34:39 PM
Rank: Veteran

Joined: 11/9/2009
Posts: 2,003
maka wrote:
hardwood wrote:
Stiffler wrote:
So, guys buy houses opposite an existing distillery. Then later on want the distillery closed coz it's interfering with their ambience...?!

Who found who...?!

Others bought next to the 70yr old ruai sewerage and the 50yr old Thika leather factory and also now want the facilities closed. You'd expect they'd have done a site visit before buying.



Wanaitwa wakenya... 😊


How do those near the Ruai sewerage survive? Every time I pass by there, I can't even stand the smell where inside the carSad Sad Sad
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VituVingiSana
#96 Posted : Friday, October 26, 2018 11:38:59 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,371
Location: Nairobi
Pesa Nane wrote:
winmak wrote:
Todays Nation, offering Greatwall 2 for 3 million. I am very interested but ....
1. What is the level of satisfaction of those in GW 1
2. Is this new property next to the Industries et al with possible issues in future?
3. Seefar is going down after a similar blitz sale back in 2013/4, is there something I am not seeing?

Would appreciate advice before I sign the dotted line



Hasn't that factory/distillery been there for years/decades in an industrial zone?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Impunity
#97 Posted : Friday, October 26, 2018 11:54:46 PM
Rank: Elder

Joined: 3/2/2009
Posts: 26,331
Location: Masada
VituVingiSana wrote:
Pesa Nane wrote:
winmak wrote:
Todays Nation, offering Greatwall 2 for 3 million. I am very interested but ....
1. What is the level of satisfaction of those in GW 1
2. Is this new property next to the Industries et al with possible issues in future?
3. Seefar is going down after a similar blitz sale back in 2013/4, is there something I am not seeing?

Would appreciate advice before I sign the dotted line



Hasn't that factory/distillery been there for years/decades in an industrial zone?


The factory can be moved due to public demand.
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Mujiza
#98 Posted : Sunday, October 28, 2018 5:04:54 PM
Rank: New-farer

Joined: 9/1/2018
Posts: 19
Location: Kampala
Pesa Nane wrote:

Latest offer

winmak wrote:
Todays Nation, offering Greatwall 2 for 3 million. I am very interested but ....
1. What is the level of satisfaction of those in GW 1
2. Is this new property next to the Industries et al with possible issues in future?
3. Seefar is going down after a similar blitz sale back in 2013/4, is there something I am not seeing?

Would appreciate advice before I sign the dotted line



They have some very nicely built and spacious retail spaces. I hope they offer those soon.
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  | | Edit by user: Sunday, October 28, 2018 5:22 PM | Reason: Correct spelling mistake
Ryko
#99 Posted : Sunday, October 28, 2018 5:50:20 PM
Rank: Member

Joined: 5/27/2016
Posts: 274
Location: Pub
winmak wrote:
Todays Nation, offering Greatwall 2 for 3 million. I am very interested but ....
1. What is the level of satisfaction of those in GW 1
2. Is this new property next to the Industries et al with possible issues in future?
3. Seefar is going down after a similar blitz sale back in 2013/4, is there something I am not seeing?

Would appreciate advice before I sign the dotted line


1. What is the level of satisfaction of those in GW 1


Greatwall really depends on what you want, 1. Do you want to invest? or 2. Do you want to live there?

1. If you want to invest:

-If you have to buy make sure you get the 3M cash deal, you must also be fast so as to acquire ground, 1st or 2nd floor. Avoid 3rd, 4th, 5th because of tenants.
-You will take so long to ever sell that house simply no buyers, since Mchina keeps building houses at 3M. (if you want to go in buy and cash out you will be "Slaughtered Alive" - no buyers) may be in future.
- If you miss out on Ground/1st/2nd you MAY struggle getting a tenant. Tenants have lots of options, since there lots of apartments. I know of guys who don't have tenants until now.
- The rent is, 27 3Bdr/ 25 2Bdr (some are offering as low as 24 3Bddr/19 2Bdr)
- Basically its a struggle to get tenants if you have houses up the sky, option is to reduce rent.
- Final paperwork takes long, shitty to sell those apartments - May change in future
- The water-bills scare away tenants
- Upcoming phases are better i.e Phs 2 has bigger kitchens, phs 3... rolls back to tenants prefering newer phases than old phases
- service charge is 2k monthly

Conclusion: If you investing long-term you can have a shot (issa Lock up investment), if you are after liquidity forget about it.
Its a good deal if you get at 3M, get a 27K tenant who will always be in (to increase this chance target 1st floor).
By the way a simple basic investment like CIC money market (10%) may give you better returns monthly.


2. If you want to live there:

- I hear Waterbills are terrible, its like paying shell V-power.
- The rest is fine, road network bla bla.



I work so I can afford the amount of alcohol required to continue going to work
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  | | Edit by user: Sunday, October 28, 2018 6:04 PM | Reason: Not specified
Kate_Mbarire
#100 Posted : Thursday, November 01, 2018 4:28:23 AM
Rank: New-farer

Joined: 9/4/2018
Posts: 64
Location: Nairobi
Ryko wrote:
winmak wrote:
Todays Nation, offering Greatwall 2 for 3 million. I am very interested but ....
1. What is the level of satisfaction of those in GW 1
2. Is this new property next to the Industries et al with possible issues in future?
3. Seefar is going down after a similar blitz sale back in 2013/4, is there something I am not seeing?

Would appreciate advice before I sign the dotted line


1. What is the level of satisfaction of those in GW 1


Greatwall really depends on what you want, 1. Do you want to invest? or 2. Do you want to live there?

1. If you want to invest:

-If you have to buy make sure you get the 3M cash deal, you must also be fast so as to acquire ground, 1st or 2nd floor. Avoid 3rd, 4th, 5th because of tenants.
-You will take so long to ever sell that house simply no buyers, since Mchina keeps building houses at 3M. (if you want to go in buy and cash out you will be "Slaughtered Alive" - no buyers) may be in future.
- If you miss out on Ground/1st/2nd you MAY struggle getting a tenant. Tenants have lots of options, since there lots of apartments. I know of guys who don't have tenants until now.
- The rent is, 27 3Bdr/ 25 2Bdr (some are offering as low as 24 3Bddr/19 2Bdr)
- Basically its a struggle to get tenants if you have houses up the sky, option is to reduce rent.
- Final paperwork takes long, shitty to sell those apartments - May change in future
- The water-bills scare away tenants
- Upcoming phases are better i.e Phs 2 has bigger kitchens, phs 3... rolls back to tenants prefering newer phases than old phases
- service charge is 2k monthly

Conclusion: If you investing long-term you can have a shot (issa Lock up investment), if you are after liquidity forget about it.
Its a good deal if you get at 3M, get a 27K tenant who will always be in (to increase this chance target 1st floor).
By the way a simple basic investment like CIC money market (10%) may give you better returns monthly.


2. If you want to live there:

- I hear Waterbills are terrible, its like paying shell V-power.
- The rest is fine, road network bla bla.




Excellent insights Ryco.I also think the high-rises that the government is building under the affordable housing agenda may give you better returns.eg they're building some at old Ngara ...3bd flat at 3M.ofcourse the sq ft is really small and am sure the finishing will be basic but I think these will be easier to work with.
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