Wazua
»
Investor
»
Property
»
4 family (3 bed/2bath) flat budget Ksh. 5m
Rank: Member Joined: 10/31/2010 Posts: 154
|
urstill wrote:Penny-stocker tafadhali saidia contacts. I would like to help in building of an orphanage hapo Dago-Nyahera area. Ruoth obed kodi!! Coming your way shortly! “None but ourselves can free our minds.”
- Bob Marley
|
|
|
Rank: Hello Joined: 6/7/2013 Posts: 3
|
Hey @Penny Stocker we need to link up , i have 6 Units by Consolata Hospital in Mamboleo too we can exchange ideas
|
|
|
Rank: Veteran Joined: 2/21/2012 Posts: 1,739
|
Hello @Penny-Stocker. I am Sure Wazuans will be more than Happy to hear your Project has been going. Post latest Pictures Mbro, and share your experience. I am thinking that the houses are Finished and Probably Occupied. Do not be anxious about anything, but in everything, by prayer and petition, with thanksgiving, present your requests to God..
|
|
|
Rank: New-farer Joined: 12/30/2010 Posts: 65 Location: Europe
|
@ Pennystocker
Rapudo, si indusna your RIAT/Kanyakwar kadogo omera...I need a place for simba! Tuongee thura!
Sorry the reply took some time. Omera, that 1/2 Riat is my one and only...she was my first ;)) & thus very dear to my heart. Di na ndusoni matin, ka poni it was 1 acre. An Kisumo next week for 2 days, let me buy you a drink thura mondo walok wich gi paro..You never know.(Rapudox@hotmail.com)
|
|
|
Rank: Member Joined: 4/1/2009 Posts: 846
|
Kudos @Penny, a couple of years ago i built my mum a 4bdr hse for less than two million, thats when i realsied its does not justify someone taking a mortgage for 15-20 years at a repayment of 80k-100k a month and the house is a three bedroom flat whose initial cost is 6m. i had approached one of the local banks for a mortgage, the guy advised me to take an unsecured loan of 1m and secure a piece of land somewhere, with the above repayment of about 80k, i could repay the loan in a about a year and go for another one to start the foundation, wall etc, out of that calculation it made sense that i could own an even bigger and better house n 5 years at a cheaper, and remember should something happen and you are not able to repay the loan, the bank cannot come for your assets, in case of the mortgage, they can sell the house.
|
|
|
Rank: Member Joined: 4/2/2011 Posts: 629 Location: Nai
|
CLK wrote:Kudos @Penny, a couple of years ago i built my mum a 4bdr hse for less than two million, thats when i realsied its does not justify someone taking a mortgage for 15-20 years at a repayment of 80k-100k a month and the house is a three bedroom flat whose initial cost is 6m.
i had approached one of the local banks for a mortgage, the guy advised me to take an unsecured loan of 1m and secure a piece of land somewhere, with the above repayment of about 80k, i could repay the loan in a about a year and go for another one to start the foundation, wall etc, out of that calculation it made sense that i could own an even bigger and better house n 5 years at a cheaper, and remember should something happen and you are not able to repay the loan, the bank cannot come for your assets, in case of the mortgage, they can sell the house. You think a bank will let you go scot free if you default on a personal loan? Think again. The bank will institute a civil suit and get judgement against you, and yes can even possess the house built using such money; in addition to other assets
|
|
|
Rank: Veteran Joined: 2/21/2012 Posts: 1,739
|
accelriskconsult wrote:CLK wrote:Kudos @Penny, a couple of years ago i built my mum a 4bdr hse for less than two million, thats when i realsied its does not justify someone taking a mortgage for 15-20 years at a repayment of 80k-100k a month and the house is a three bedroom flat whose initial cost is 6m.
i had approached one of the local banks for a mortgage, the guy advised me to take an unsecured loan of 1m and secure a piece of land somewhere, with the above repayment of about 80k, i could repay the loan in a about a year and go for another one to start the foundation, wall etc, out of that calculation it made sense that i could own an even bigger and better house n 5 years at a cheaper, and remember should something happen and you are not able to repay the loan, the bank cannot come for your assets, in case of the mortgage, they can sell the house. You think a bank will let you go scot free if you default on a personal loan? Think again. The bank will institute a civil suit and get judgement against you, and yes can even possess the house built using such money; in addition to other assets @accelriskconsult. Very True, the bank will Come for you and repossess. But CLK is Correct in saying that Morgages do not make sense at all. Do not be anxious about anything, but in everything, by prayer and petition, with thanksgiving, present your requests to God..
|
|
|
Rank: Member Joined: 10/31/2010 Posts: 154
|
Rapudox wrote:@ Pennystocker
Rapudo, si indusna your RIAT/Kanyakwar kadogo omera...I need a place for simba! Tuongee thura!
Sorry the reply took some time. Omera, that 1/2 Riat is my one and only...she was my first ;)) & thus very dear to my heart. Di na ndusoni matin, ka poni it was 1 acre. An Kisumo next week for 2 days, let me buy you a drink thura mondo walok wich gi paro..You never know.(Rapudox@hotmail.com) Too bad Mr. Rapudo...I won't be in KSM otherwise tunge romo...lakini, ndusna omera..adwaro kama agere simba na sibuor! Wuoyi konyo wuoyi! “None but ourselves can free our minds.”
- Bob Marley
|
|
|
Rank: Member Joined: 10/31/2010 Posts: 154
|
Am wrote:accelriskconsult wrote:CLK wrote:Kudos @Penny, a couple of years ago i built my mum a 4bdr hse for less than two million, thats when i realsied its does not justify someone taking a mortgage for 15-20 years at a repayment of 80k-100k a month and the house is a three bedroom flat whose initial cost is 6m.
i had approached one of the local banks for a mortgage, the guy advised me to take an unsecured loan of 1m and secure a piece of land somewhere, with the above repayment of about 80k, i could repay the loan in a about a year and go for another one to start the foundation, wall etc, out of that calculation it made sense that i could own an even bigger and better house n 5 years at a cheaper, and remember should something happen and you are not able to repay the loan, the bank cannot come for your assets, in case of the mortgage, they can sell the house. You think a bank will let you go scot free if you default on a personal loan? Think again. The bank will institute a civil suit and get judgement against you, and yes can even possess the house built using such money; in addition to other assets @accelriskconsult. Very True, the bank will Come for you and repossess. But CLK is Correct in saying that Morgages do not make sense at all. People taking mortgages in Kenya are CRAZY. Interest rates are unrealistic. But guess what, there are peeps out there signing their mortgage papers as we speak! No thank you! “None but ourselves can free our minds.”
- Bob Marley
|
|
|
Rank: Member Joined: 10/31/2010 Posts: 154
|
CLK wrote:Kudos @Penny, a couple of years ago i built my mum a 4bdr hse for less than two million, thats when i realsied its does not justify someone taking a mortgage for 15-20 years at a repayment of 80k-100k a month and the house is a three bedroom flat whose initial cost is 6m.
i had approached one of the local banks for a mortgage, the guy advised me to take an unsecured loan of 1m and secure a piece of land somewhere, with the above repayment of about 80k, i could repay the loan in a about a year and go for another one to start the foundation, wall etc, out of that calculation it made sense that i could own an even bigger and better house n 5 years at a cheaper, and remember should something happen and you are not able to repay the loan, the bank cannot come for your assets, in case of the mortgage, they can sell the house. Thanks @CLK...kidogo kidogo hujaza kibaba! “None but ourselves can free our minds.”
- Bob Marley
|
|
|
Wazua
»
Investor
»
Property
»
4 family (3 bed/2bath) flat budget Ksh. 5m
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.
|