Wazua
»
Investor
»
Property
»
What can i do with 8-9 Million in Kenya?
Rank: Member You have been a member since:: 7/27/2014 Posts: 560 Location: Eastlando
|
A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be
|
|
|
Rank: Elder Joined: 3/29/2011 Posts: 2,242
|
Fullykenyan wrote:A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be If I were you, i. Buy 3 acres of land in a one of the growing Nbi suburbs @ approx 3.5 per acre @ total 10.5 m. Assume an additional 500k as brokers fees, total cost 11m ii. Subdivide the land into 21 portions, assume a processing fee of 50k per portion, total approx 1 m. iii. Wait for about about 1 yr and start disposing the plots. Each portion target 800k-1m. Assume you dispose over a period of 1 yr. Uisng the lower rate of 800k, you can target to realize 16.8m iv. Overall, you would make at least a 40% return over two years. "Things that matter most must never be at the mercy of things that matter least." Goethe
|
|
|
Rank: Member You have been a member since:: 7/27/2014 Posts: 560 Location: Eastlando
|
Gathige wrote:Fullykenyan wrote:A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be If I were you, i. Buy 3 acres of land in a one of the growing Nbi suburbs @ approx 3.5 per acre @ total 10.5 m. Assume an additional 500k as brokers fees, total cost 11m ii. Subdivide the land into 21 portions, assume a processing fee of 50k per portion, total approx 1 m. iii. Wait for about about 1 yr and start disposing the plots. Each portion target 800k-1m. Assume you dispose over a period of 1 yr. Uisng the lower rate of 800k, you can target to realize 16.8m iv. Overall, you would make at least a 40% return over two years. very good advice. This never crossed my mind before
|
|
|
Rank: Member Joined: 9/27/2006 Posts: 503
|
Fullykenyan wrote:Gathige wrote:Fullykenyan wrote:A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be If I were you, i. Buy 3 acres of land in a one of the growing Nbi suburbs @ approx 3.5 per acre @ total 10.5 m. Assume an additional 500k as brokers fees, total cost 11m ii. Subdivide the land into 21 portions, assume a processing fee of 50k per portion, total approx 1 m. iii. Wait for about about 1 yr and start disposing the plots. Each portion target 800k-1m. Assume you dispose over a period of 1 yr. Uisng the lower rate of 800k, you can target to realize 16.8m iv. Overall, you would make at least a 40% return over two years. very good advice. This never crossed my mind before I'm sorry, I just have to comment that the above advice is not productive at all, in the sense of generating lasting wealth.
|
|
|
Rank: Member Joined: 11/15/2010 Posts: 454 Location: Nairobi
|
Fullykenyan wrote:A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be I met someone who was very interesting. His school of thought was that no investment is bad as long as you enjoy doing what you do, and you would still do it even if there is no pay or returns. ....follow your passion/instinct/inner-voice. Another thing about residential rental, location is key. If I were you I'd spend 70% of your available cash (10M) ...or more to secure good location then nijenge pole pole. ....He who began a good work in you will carry it on to completion..
|
|
|
Rank: Member Joined: 5/15/2019 Posts: 677 Location: planet earth
|
Fullykenyan wrote:A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be This storo is not adding up. 1.You do not know the exact amount you have? 2.What is the source of the additional "2-4" that you will "add" Answer me that and then I can help you achieve all your dreams  Age and family mellows us all over time
|
|
|
Rank: Member You have been a member since:: 7/27/2014 Posts: 560 Location: Eastlando
|
amorphous wrote:Fullykenyan wrote:A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be This storo is not adding up. 1.You do not know the exact amount you have? 2.What is the source of the additional "2-4" that you will "add" Answer me that and then I can help you achieve all your dreams What i meant with my cash being between 8-9 million, was me trying saying how much i have without going into much details. My money is in Euros. The extra 2-4 Million would come from selling part of my shares and bonds. I am also not shy to get a loan, if the loan would be relatively cheaper in the long run
|
|
|
Rank: Member You have been a member since:: 7/27/2014 Posts: 560 Location: Eastlando
|
tinker wrote:Fullykenyan wrote:A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be I met someone who was very interesting. His school of thought was that no investment is bad as long as you enjoy doing what you do, and you would still do it even if there is no pay or returns. ....follow your passion/instinct/inner-voice. Another thing about residential rental, location is key. If I were you I'd spend 70% of your available cash (10M) ...or more to secure good location then nijenge pole pole. Thanks for this perspective.
|
|
|
Rank: Member Joined: 5/15/2019 Posts: 677 Location: planet earth
|
Fullykenyan wrote:
What i meant with my cash being between 8-9 million, was me trying saying how much i have without going into much details. My money is in Euros. The extra 2-4 Million would come from selling part of my shares and bonds. I am also not shy to get a loan, if the loan would be relatively cheaper in the long run
Ahaa! Now the picture makes very good sense and is quite clear. My advice; 1. Make a bee-line for where else but Jewel In the Crown, DC 2. Buy a 1/4 acre plot in any of its top estos for about 4m. 3. Build with the balance 4. If you are greedy and impatient, sell as expeditiously as possible for a few measly millions in profit 5. If you are smart, get a tenant and sit for about 20 to 30 years and then thank me later. Ni hayo tu. Age and family mellows us all over time
|
|
|
Rank: User Joined: 8/15/2013 Posts: 13,236 Location: Vacuum
|
Fullykenyan wrote:A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be Go to the nearest bar and drink,keep drinking until you get a solid idea. If you don't know what to do with the cash. Pack it in a fixed deposit a/c . Hii mambo ya kuchukua ideas from online strangers doesn't work If Obiero did it, Who Am I?
|
|
|
Rank: User Joined: 8/15/2013 Posts: 13,236 Location: Vacuum
|
Gathige wrote:Fullykenyan wrote:A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be If I were you, i. Buy 3 acres of land in a one of the growing Nbi suburbs @ approx 3.5 per acre @ total 10.5 m. Assume an additional 500k as brokers fees, total cost 11m ii. Subdivide the land into 21 portions, assume a processing fee of 50k per portion, total approx 1 m. iii. Wait for about about 1 yr and start disposing the plots. Each portion target 800k-1m. Assume you dispose over a period of 1 yr. Uisng the lower rate of 800k, you can target to realize 16.8m iv. Overall, you would make at least a 40% return over two years. Where are these suburbs? If Obiero did it, Who Am I?
|
|
|
Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
|
Swenani wrote:Gathige wrote:Fullykenyan wrote:A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be If I were you, i. Buy 3 acres of land in a one of the growing Nbi suburbs @ approx 3.5 per acre @ total 10.5 m. Assume an additional 500k as brokers fees, total cost 11m ii. Subdivide the land into 21 portions, assume a processing fee of 50k per portion, total approx 1 m. iii. Wait for about about 1 yr and start disposing the plots. Each portion target 800k-1m. Assume you dispose over a period of 1 yr. Uisng the lower rate of 800k, you can target to realize 16.8m iv. Overall, you would make at least a 40% return over two years. Where are these suburbs? Ummmh you will kwama with those plots hadi 2030. possunt quia posse videntur
|
|
|
Rank: Member Joined: 12/1/2007 Posts: 539 Location: Nakuru
|
maka wrote:Swenani wrote:Gathige wrote:Fullykenyan wrote:A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be If I were you, i. Buy 3 acres of land in a one of the growing Nbi suburbs @ approx 3.5 per acre @ total 10.5 m. Assume an additional 500k as brokers fees, total cost 11m ii. Subdivide the land into 21 portions, assume a processing fee of 50k per portion, total approx 1 m. iii. Wait for about about 1 yr and start disposing the plots. Each portion target 800k-1m. Assume you dispose over a period of 1 yr. Uisng the lower rate of 800k, you can target to realize 16.8m iv. Overall, you would make at least a 40% return over two years. Where are these suburbs? Ummmh you will kwama with those plots hadi 2030. Touche Am sure most wazuan and most upwardly middle class have this line of thinking (some plot laying idle somewhere waiting to appreciate) quail-scenario For investors as a whole, returns decrease as motion increases ~ WB
|
|
|
Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
|
Fullykenyan wrote:A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be Why not buy shares of blue chip companies at the NSE? Covid-19 will come and pass...stocks will bounce back...high chance you triple your money in the next 5 years... Real estate wont work with this small amount...
|
|
|
Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
|
the deal wrote:Fullykenyan wrote:A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be Why not buy shares of blue chip companies at the NSE? Covid-19 will come and pass...stocks will bounce back...high chance you triple your money in the next 5 years... Real estate wont work with this small amount... Wacha wewe.this is a lot of money for real estate .some of us started with less than 2% of that amount and so far so good. Shares are for the steel hearted.10 years down the lane investment in land has been more fulfilling than shares. Fullykenyan go to a place like kangundo road in a cosmopolitan shopping centre ,get a plot at 3million ,build rental houses with shops on the ground floor.if you get a good construction team that will not steal from you ,you can have a decent 5-storey rental house with 15- 2bedroom units at 12m-15m .this will give you a generational inheritance to you and your kids punda amecheka
|
|
|
Rank: Member Joined: 5/15/2019 Posts: 677 Location: planet earth
|
newfarer wrote:the deal wrote:Fullykenyan wrote:A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be Why not buy shares of blue chip companies at the NSE? Covid-19 will come and pass...stocks will bounce back...high chance you triple your money in the next 5 years... Real estate wont work with this small amount... Wacha wewe.this is a lot of money for real estate .some of us started with less than 2% of that amount and so far so good. Shares are for the steel hearted.10 years down the lane investment in land has been more fulfilling than shares. Fullykenyan go to a place like kangundo road in a cosmopolitan shopping centre ,get a plot at 3million ,build rental houses with shops on the ground floor.if you get a good construction team that will not steal from you can have a reasonable 5storey rental house with 15 2bedroom units at 12m-15m .this will give you a generational inheritance to you and your kids Are you sure? If yes, I need the name of your foreman and materials suppliers pronto Age and family mellows us all over time
|
|
|
Rank: Member Joined: 5/15/2019 Posts: 677 Location: planet earth
|
the deal wrote:Fullykenyan wrote:A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be Why not buy shares of blue chip companies at the NSE? Covid-19 will come and pass...stocks will bounce back...high chance you triple your money in the next 5 years...
Real estate wont work with this small amount... Are you sure? If yes, I need to know the name of the planet you are on outside this earth where these things are not possibo, so I can pay you a visit Age and family mellows us all over time
|
|
|
Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
|
amorphous wrote:newfarer wrote:the deal wrote:Fullykenyan wrote:A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be Why not buy shares of blue chip companies at the NSE? Covid-19 will come and pass...stocks will bounce back...high chance you triple your money in the next 5 years... Real estate wont work with this small amount... Wacha wewe.this is a lot of money for real estate .some of us started with less than 2% of that amount and so far so good. Shares are for the steel hearted.10 years down the lane investment in land has been more fulfilling than shares. Fullykenyan go to a place like kangundo road in a cosmopolitan shopping centre ,get a plot at 3million ,build rental houses with shops on the ground floor.if you get a good construction team that will not steal from you can have a reasonable 5storey rental house with 15 2bedroom units at 12m-15m .this will give you a generational inheritance to you and your kids Are you sure? If yes, I need the name of your foreman and materials suppliers pronto Most of the cash in construction goes to waste -theft.Structure is the easiest ,the hardest deal is the finishing.But this can be done polepole.with 12-15m the job will be substantially done.if you want to get more aesthetically then you spend much more. punda amecheka
|
|
|
Rank: Member Joined: 5/15/2019 Posts: 677 Location: planet earth
|
newfarer wrote:
Most of the cash in construction goes to waste -theft.Structure is the easiest ,the hardest deal is the finishing.But this can be done polepole.with 12-15m the job will be substantially done.if you want to get more aesthetically the you spend much more.
- How many apartments per floor? - Plinth area per apartment? Answer me those and we will separate the possible from impossible regarding your claim Age and family mellows us all over time
|
|
|
Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
|
amorphous wrote:newfarer wrote:
Most of the cash in construction goes to waste -theft.Structure is the easiest ,the hardest deal is the finishing.But this can be done polepole.with 12-15m the job will be substantially done.if you want to get more aesthetically the you spend much more.
- How many apartments per floor? - Plinth area per apartment? Answer me those and we will separate the possible from impossible regarding your claim You can work with 80sqm with 3 units per floor.Basic but not substandard finishing.getting above foundation in black cotton soil and the slab are the most costly parts of the structure.walls cost much less. Assuming each slab floor cost 1.5million and the walls 1million .the structure will total to 12.5 million I would give finishing another 6 million at most . Finishing can be done as letting to tenants is ongoing so you can recoup some cash to complete some floors if cash sources dry up punda amecheka
|
|
|
Wazua
»
Investor
»
Property
»
What can i do with 8-9 Million in Kenya?
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.
|