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What can i do with 8-9 Million in Kenya?
Rank: Member Joined: 5/15/2019 Posts: 677 Location: planet earth
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newfarer wrote: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 So in other words your origi figures were way off, right? Even with these updated ones..you would be talking a very terrible, Pipu/Kariobangi style concrete hideosity for those prices. Age and family mellows us all over time
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Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
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amorphous wrote:newfarer wrote: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 So in other words your origi figures were way off, right? Even with these updated ones..you would be talking a very terrible, Pipu/Kariobangi style concrete hideosity for those prices. Not really..slab ya 1.5m is quite huge basing on what I practically did for 500k .over 6years ago na iko imara like Jana's . cement prices have actually gone down since then . what did you have in mind as the basic minimum figures tuone yako punda amecheka
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Rank: Member Joined: 5/15/2019 Posts: 677 Location: planet earth
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I prefer to give my tenants a little bit more comfort and decent amenities (esp for 80sqm which is a decent size for middle class and above tenants who are quite demanding in terms of quality) so minimum spend would be about 25k per sqm. Decent amenities meaning -600 mm tiles - quality cupboards and finishings -classy light fixtures - nice wardrobes - decent sanitary ware Etc. You can charge a premium due to quality and these tenants are more long term and reliable imho Age and family mellows us all over time
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Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
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amorphous wrote:I prefer to give my tenants a little bit more comfort and decent amenities (esp for 80sqm which is a decent size for middle class and above tenants who are quite demanding in terms of quality) so minimum spend would be about 25k per sqm.
Decent amenities meaning
-600 mm tiles
- quality cupboards and finishings
-classy light fixtures
- nice wardrobes
- decent sanitary ware
Etc.
You can charge a premium due to quality and these tenants are more long term and reliable imho That comes to about 30m.. not bad for the quality.Most contractors and real estate cartels will be talking of double that amount for 15 units to keep away most people from house ownership dreams..I always try to talk of the possibilities punda amecheka
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Rank: Member Joined: 5/15/2019 Posts: 677 Location: planet earth
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newfarer wrote:amorphous wrote:I prefer to give my tenants a little bit more comfort and decent amenities (esp for 80sqm which is a decent size for middle class and above tenants who are quite demanding in terms of quality) so minimum spend would be about 25k per sqm.
Decent amenities meaning
-600 mm tiles
- quality cupboards and finishings
-classy light fixtures
- nice wardrobes
- decent sanitary ware
Etc.
You can charge a premium due to quality and these tenants are more long term and reliable imho That comes to about 30m.. not bad for the quality.Most contractors and real estate cartels will be talking of double that amount for 15 units to keep away most people from house ownership dreams..I always try to talk of the possibilities Indeed. And remember I do not need it all at once Ground floor tu, niingize watu na kazi iendelee pole pole over time  Age and family mellows us all over time
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Rank: Veteran Joined: 10/9/2006 Posts: 1,502
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Invest your money with MansaX. Kes 8000,000 will give you Kes131,200 every single month. work to prosper
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Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
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Tokyo wrote:Invest your money with MansaX.
Kes 8000,000 will give you Kes131,200 every single month. invest in Forex what you can afford to lose.Old men said https://www.sib.co.ke/mansa-x/
In s*thole country like ours ,the only sound investment is in motor and brick.as long as you do proper diligence on where you put that brick and mortar punda amecheka
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Rank: Member Joined: 8/17/2010 Posts: 110 Location: Nairobi
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newfarer wrote:Tokyo wrote:Invest your money with MansaX.
Kes 8000,000 will give you Kes131,200 every single month. invest in Forex what you can afford to lose.Old men said https://www.sib.co.ke/mansa-x/
In s*thole country like ours ,the only sound investment is in motor and brick.as long as you do proper diligence on where you put that brick and mortar There are many other well- returning investments beyond the brick and mortar and other tangible 'assets'. You find younger folks, foreigners in technology/I.P/ international business making appreciable returns on capital at dizzying proportions.
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Rank: Veteran Joined: 10/9/2006 Posts: 1,502
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newfarer wrote:Tokyo wrote:Invest your money with MansaX.
Kes 8000,000 will give you Kes131,200 every single month. invest in Forex what you can afford to lose.Old men said https://www.sib.co.ke/mansa-x/
In s*thole country like ours ,the only sound investment is in motor and brick.as long as you do proper diligence on where you put that brick and mortar Your advice doesn’t reflect this modern era. work to prosper
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Rank: Member Joined: 4/26/2011 Posts: 759
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Conquestador wrote:newfarer wrote:Tokyo wrote:Invest your money with MansaX.
Kes 8000,000 will give you Kes131,200 every single month. invest in Forex what you can afford to lose.Old men said https://www.sib.co.ke/mansa-x/
In s*thole country like ours ,the only sound investment is in motor and brick.as long as you do proper diligence on where you put that brick and mortar There are many other well- returning investments beyond the brick and mortar and other tangible 'assets'. You find younger folks, foreigners in technology/I.P/ international business making appreciable returns on capital at dizzying proportions. I own no tangible asset, wouldn't advice anyone to tie their hard earned money in a project, that is illiquid, in a country they don't reside in. Put your money in a diversified fund with annual long term growth rate of 7%+ you'll sleep well at night and you can access your money any time you want to!
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Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
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Rollout wrote:Conquestador wrote:newfarer wrote:Tokyo wrote:Invest your money with MansaX.
Kes 8000,000 will give you Kes131,200 every single month. invest in Forex what you can afford to lose.Old men said https://www.sib.co.ke/mansa-x/
In s*thole country like ours ,the only sound investment is in motor and brick.as long as you do proper diligence on where you put that brick and mortar There are many other well- returning investments beyond the brick and mortar and other tangible 'assets'. You find younger folks, foreigners in technology/I.P/ international business making appreciable returns on capital at dizzying proportions. I own no tangible asset, wouldn't advice anyone to tie their hard earned money in a project, that is illiquid, in a country they don't reside in. Put your money in a diversified fund with annual long term growth rate of 7%+ you'll sleep well at night and you can access your money any time you want to! Do you intend to come back home.. Kenya,utalala wapi?build home at old age? punda amecheka
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Rank: Member Joined: 4/26/2011 Posts: 759
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newfarer wrote:Rollout wrote:Conquestador wrote:newfarer wrote:Tokyo wrote:Invest your money with MansaX.
Kes 8000,000 will give you Kes131,200 every single month. invest in Forex what you can afford to lose.Old men said https://www.sib.co.ke/mansa-x/
In s*thole country like ours ,the only sound investment is in motor and brick.as long as you do proper diligence on where you put that brick and mortar There are many other well- returning investments beyond the brick and mortar and other tangible 'assets'. You find younger folks, foreigners in technology/I.P/ international business making appreciable returns on capital at dizzying proportions. I own no tangible asset, wouldn't advice anyone to tie their hard earned money in a project, that is illiquid, in a country they don't reside in. Put your money in a diversified fund with annual long term growth rate of 7%+ you'll sleep well at night and you can access your money any time you want to! Do you intend to come back home.. Kenya,utalala wapi?build home at old age? If you have the money you can build a house in less than 6 months so if at some point I come back to Kenya, I can build if I want. It make no financial sense to build a house that you don't live on just so you can have a place when you come "home."
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Rank: Member Joined: 5/15/2019 Posts: 677 Location: planet earth
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Rollout wrote:newfarer wrote:Rollout wrote:Conquestador wrote:newfarer wrote:Tokyo wrote:Invest your money with MansaX.
Kes 8000,000 will give you Kes131,200 every single month. invest in Forex what you can afford to lose.Old men said https://www.sib.co.ke/mansa-x/
In s*thole country like ours ,the only sound investment is in motor and brick.as long as you do proper diligence on where you put that brick and mortar There are many other well- returning investments beyond the brick and mortar and other tangible 'assets'. You find younger folks, foreigners in technology/I.P/ international business making appreciable returns on capital at dizzying proportions. I own no tangible asset, wouldn't advice anyone to tie their hard earned money in a project, that is illiquid, in a country they don't reside in. Put your money in a diversified fund with annual long term growth rate of 7%+ you'll sleep well at night and you can access your money any time you want to! Do you intend to come back home.. Kenya,utalala wapi?build home at old age? If you have the money you can build a house in less than 6 months so if at some point I come back to Kenya, I can build if I want. It make no financial sense to build a house that you don't live on just so you can have a place when you come "home." We respectfully disagree with you. At 25% (or even more) total annualised returns on homes in DC is the future, it makes perfect sense to buy or build a house. And who says houses are illiquid? Rental income ndiyo hiyo shwaa and we have also diversified just as you have in other things other than houses Age and family mellows us all over time
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Rank: Member Joined: 4/26/2011 Posts: 759
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amorphous wrote:Rollout wrote:newfarer wrote:Rollout wrote:Conquestador wrote:newfarer wrote:Tokyo wrote:Invest your money with MansaX.
Kes 8000,000 will give you Kes131,200 every single month. invest in Forex what you can afford to lose.Old men said https://www.sib.co.ke/mansa-x/
In s*thole country like ours ,the only sound investment is in motor and brick.as long as you do proper diligence on where you put that brick and mortar There are many other well- returning investments beyond the brick and mortar and other tangible 'assets'. You find younger folks, foreigners in technology/I.P/ international business making appreciable returns on capital at dizzying proportions. I own no tangible asset, wouldn't advice anyone to tie their hard earned money in a project, that is illiquid, in a country they don't reside in. Put your money in a diversified fund with annual long term growth rate of 7%+ you'll sleep well at night and you can access your money any time you want to! Do you intend to come back home.. Kenya,utalala wapi?build home at old age? If you have the money you can build a house in less than 6 months so if at some point I come back to Kenya, I can build if I want. It make no financial sense to build a house that you don't live on just so you can have a place when you come "home." We respectfully disagree with you. At 25% (or even more) total annualised returns on homes in DC is the future, it makes perfect sense to buy or build a house. And who says houses are illiquid? Rental income ndiyo hiyo shwaa and we have also diversified just as you have in other things other than houses 25%? what planet are you? It's a little below 3.5% that is if you are in a market that's appreciating otherwise you are looking to close to 0% return on a home long term!!!! You might be listening too much to house brokers and lenders, they are the one who actually get most of the profits from house buyers. Think about math for a second. If your mortgage rate is 14% annual( kenya) property tax of 2% and annual depreciation rate of 1%. Your house price will have to appreciate by at least 17% to break even meaning your house value need to double every 5 years! Math don't work here.
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Rank: Member Joined: 5/15/2019 Posts: 677 Location: planet earth
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Rollout wrote:
25%? what planet are you? It's a little below 3.5% that is if you are in a market that's appreciating otherwise you are looking to close to 0% return on a home long term!!!!
You might be listening too much to house brokers and lenders, they are the one who actually get most of the profits from house buyers.
Think about math for a second. If your mortgage rate is 14% annual( kenya) property tax of 2% and annual depreciation rate of 1%. Your house price will have to appreciate by at least 17% to break even meaning your house value need to double every 5 years! Math don't work here.
he he he he he he I can tell you are in Babylon (USA) sindio? I used to think like you, mbradza. Quick to quote mortgage rates from Motely Fool and property tax rates from the Chancery Clerk. Kwa nground vitu ni different hapa Kenya mbro. Here is some (extremely simple) math for you. 1. Buy a 1/4 acre plot CASH for 3.5m in January 2019 in any of the top estos in where else but Jewel in the Crown DC. Please note that in the previous year the cost of the same was 3m and the year before 2.5m. If this (buying all cash) sounds impossible from your end, rest assured many, many, many middle class Kenyans do this daily. 35k USD is nothing to most hard working middle class Kenyans who are buying plots in Joska for 2m like flies! Hata 25 year old recent college graduates with ordinary njobs are buying and building cash like it was running out of fashion! 2. Build your house slowly over 2 years CASH no mortgage. For a 4BR, 230sqm beautiful maisonette, depending on your skill and what type of building model you use (other than a full contract) as well as what type of finishes. This deal is done and dusted at well under 8m. 3. Weka tenant dani yake paying a measly 50k which most middle class Kenyans can easily afford. 4. Go to a valuer at the end of 2020 and value your mansion. And please do not collapse when you are told the price is 20 metre and up. Hebu fanya hizo total return hesabus sasa and revert  Na please remember. In most parts of DC, land is freehold and so far is not attracting any taxes whatsoever. Rental taxes are a paltry 10% for most. Rudi Kenya mbradza. those Western countries have NOTHING for you but mental and physical SLAVERY!Ask my fellow burger-flipper Wukan who is now a big shot hapa nground doing big thangs although zake are with papa's maney  Age and family mellows us all over time
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Rollout wrote:amorphous wrote:Rollout wrote:newfarer wrote:Rollout wrote:Conquestador wrote:newfarer wrote:Tokyo wrote:Invest your money with MansaX.
Kes 8000,000 will give you Kes131,200 every single month. invest in Forex what you can afford to lose.Old men said https://www.sib.co.ke/mansa-x/
In s*thole country like ours ,the only sound investment is in motor and brick.as long as you do proper diligence on where you put that brick and mortar There are many other well- returning investments beyond the brick and mortar and other tangible 'assets'. You find younger folks, foreigners in technology/I.P/ international business making appreciable returns on capital at dizzying proportions. I own no tangible asset, wouldn't advice anyone to tie their hard earned money in a project, that is illiquid, in a country they don't reside in. Put your money in a diversified fund with annual long term growth rate of 7%+ you'll sleep well at night and you can access your money any time you want to! Do you intend to come back home.. Kenya,utalala wapi?build home at old age? If you have the money you can build a house in less than 6 months so if at some point I come back to Kenya, I can build if I want. It make no financial sense to build a house that you don't live on just so you can have a place when you come "home." We respectfully disagree with you. At 25% (or even more) total annualised returns on homes in DC is the future, it makes perfect sense to buy or build a house. And who says houses are illiquid? Rental income ndiyo hiyo shwaa and we have also diversified just as you have in other things other than houses 25%? what planet are you? It's a little below 3.5% that is if you are in a market that's appreciating otherwise you are looking to close to 0% return on a home long term!!!! You might be listening too much to house brokers and lenders, they are the one who actually get most of the profits from house buyers. Think about math for a second. If your mortgage rate is 14% annual( kenya) property tax of 2% and annual depreciation rate of 1%. Your house price will have to appreciate by at least 17% to break even meaning your house value need to double every 5 years! Math don't work here. @Rollout what advise do you expect from someone who sells 1/8 plots for a living? Life is short. Live passionately.
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Rank: Member Joined: 5/15/2019 Posts: 677 Location: planet earth
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Mr "Qusetions (sic) about Mugundaman" is back And of course a brain the size of a peanut never adds anything to a discussion worth responding to by anyone. There goes our umama na utoto-free two months we have been enjoying hapa quite nicely. Mathare mental asylum must have released him on half Haldol dosage Age and family mellows us all over time
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Rank: Member Joined: 4/26/2011 Posts: 759
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amorphous wrote:Rollout wrote:
25%? what planet are you? It's a little below 3.5% that is if you are in a market that's appreciating otherwise you are looking to close to 0% return on a home long term!!!!
You might be listening too much to house brokers and lenders, they are the one who actually get most of the profits from house buyers.
Think about math for a second. If your mortgage rate is 14% annual( kenya) property tax of 2% and annual depreciation rate of 1%. Your house price will have to appreciate by at least 17% to break even meaning your house value need to double every 5 years! Math don't work here.
he he he he he he I can tell you are in Babylon (USA) sindio? I used to think like you, mbradza. Quick to quote mortgage rates from Motely Fool and property tax rates from the Chancery Clerk. Kwa nground vitu ni different hapa Kenya mbro. Here is some (extremely simple) math for you. 1. Buy a 1/4 acre plot CASH for 3.5m in January 2019 in any of the top estos in where else but Jewel in the Crown DC. Please note that in the previous year the cost of the same was 3m and the year before 2.5m. If this (buying all cash) sounds impossible from your end, rest assured many, many, many middle class Kenyans do this daily. 35k USD is nothing to most hard working middle class Kenyans who are buying plots in Joska for 2m like flies! Hata 25 year old recent college graduates with ordinary njobs are buying and building cash like it was running out of fashion! 2. Build your house slowly over 2 years CASH no mortgage. For a 4BR, 230sqm beautiful maisonette, depending on your skill and what type of building model you use (other than a full contract) as well as what type of finishes. This deal is done and dusted at well under 8m. 3. Weka tenant dani yake paying a measly 50k which most middle class Kenyans can easily afford. 4. Go to a valuer at the end of 2020 and value your mansion. And please do not collapse when you are told the price is 20 metre and up. Hebu fanya hizo total return hesabus sasa and revert Na please remember. In most parts of DC, land is freehold and so far is not attracting any taxes whatsoever. Rental taxes are a paltry 10% for most. Rudi Kenya mbradza. those Western countries have NOTHING for you but mental and physical SLAVERY!Ask my fellow burger-flipper Wukan who is now a big shot hapa nground doing big thangs although zake are with papa's maney People usually give advice based on their own background, experiences and environment. Both of us are making a lot of assumption here. Unless we are on the same economic level it will be impossible to agree. For example, I don't want to do what your articulated- buy plot for kshs. 3.5m, build over 2yrs spending additional kshs. 6m, put a renter for kshs. 50k then hope to sale for 20m and make 12m in the process- To me that's a lot of work for kshs. 12 million in 2 year period, to you this is a no brainer, the only reason Rollout can't do this is because he probably can't afford it because he is being enslaved in USA. Again people can see what their environment can accord them. While we might discuss issues and offer opinions or suggestions, it take some maturity to realize that people are in different levels in their hierarchy of needs so no need to insult anyone. You are still in buying plots and building 1 house and selling it, I bet some people here are doing a lot of biggest stuff so relax, cool down, humble!!!! Nothing wrong with doing what you are doing, in fact I think it is brilliant but you'll get to a point where that's not something you'd find attractive them you'll understand where some of us are.
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Rank: Member Joined: 5/15/2019 Posts: 677 Location: planet earth
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Rank: Member Joined: 7/27/2014 Posts: 560 Location: Eastlando
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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... i dont do shares. i prefer fonds that have a pallet of top shares in them. single sahres can easily burn your money
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What can i do with 8-9 Million in Kenya?
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