Wazua
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4 family (3 bed/2bath) flat budget Ksh. 5m
Rank: Member Joined: 10/31/2010 Posts: 154
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SAPGURU wrote:Hey @Penny Stocker we need to link up , i have 6 Units by Consolata Hospital in Mamboleo too we can exchange ideas @SAPGURU...sorry for the late reply! Too bad I'm not in Kisumu at the moment. Next time I make a trip to the lakeside, I'll hit you up. meanwhile you can reach me at stocker (dot) penny (at) gmail (dot) com. How's your project coming along? Are you building to sell/off load or keeping as rentals? “None but ourselves can free our minds.”
- Bob Marley
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Rank: Elder Joined: 6/19/2008 Posts: 4,268
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@penny-stocker, kindly share with us the latest on your project...
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Rank: Elder Joined: 11/7/2007 Posts: 2,182
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there is no way a bank can take your house if you built it using a personal loan. The security for a personal loan is the salary not the house. haiwezekani. LOVE WHAT YOU DO, DO WHAT YOU LOVE.
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Rank: Veteran Joined: 1/4/2010 Posts: 1,668 Location: nairobi
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Check out house cost breakdown here. http://www.a4architect.c...la-vs-south-africa-594/
Bank finance takes up around 10 to 20% of the cost of the house. Afterwards, mortgage take up nearly 100% of the cost over a long term. Kenya's interest rates at 18% are among the highest in the world, compared to S.A with 6% and USA with 2%. This is where we find the devil, in the details of bank finance. Kenyas construction cost is among the lowest in the world. Kenya's land appreciation rate is among the highest in the world. Land appreciation rate is directly rested to interest rate and inflation. Fiscal economists and land economists need to work out a balance on this so as to bring down mortgages to affordable rates. As Iron Sharpens Iron, So one Man Sharpens Another.
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Rank: Member Joined: 4/2/2011 Posts: 629 Location: Nai
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kyt wrote:there is no way a bank can take your house if you built it using a personal loan. The security for a personal loan is the salary not the house. haiwezekani. Hopefully you have a lawyer friend and you have sought advice. The bank can get judgement against any of your assets. They only need to prove that; 1. They lend you money 2. You defaulted 3. You are no dead or incapacitated 4. You are of sound mind 5. You have the ability to repay - that ability includes ownership of transferrable assets.
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Rank: Member Joined: 2/16/2009 Posts: 26
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@Wakanyugi have a 1/8 in Ruiru planning construction, I am interested to know more and also like to have a look at your hse(shiro.kinyanjui@gmail.com)
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Rank: Member Joined: 10/31/2010 Posts: 154
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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) @Rapudox - some good news to report. I was able to get 0.6 acre @1M (very very good deal - with a view of the lake, town, airport and sun set. That's for a future dream home! When are in Kisumu next? “None but ourselves can free our minds.”
- Bob Marley
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Rank: Veteran Joined: 2/21/2012 Posts: 1,739
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Penny-Stocker wrote: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) @Rapudox - some good news to report. I was able to get 0.6 acre @1M (very very good deal - with a view of the lake, town, airport and sun set. That's for a future dream home! When are in Kisumu next? Yawa @Penny are you 30 Yet? You real Investor. How did the Kisumo Project go? Kwisha maliza? Do not be anxious about anything, but in everything, by prayer and petition, with thanksgiving, present your requests to God..
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Rank: Member Joined: 10/31/2010 Posts: 154
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Am wrote:Penny-Stocker wrote: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) @Rapudox - some good news to report. I was able to get 0.6 acre @1M (very very good deal - with a view of the lake, town, airport and sun set. That's for a future dream home! When are in Kisumu next? Yawa @Penny are you 30 Yet? You real Investor. How did the Kisumo Project go? Kwisha maliza? @Am...hehehe...I will be 30 in November...just found a one time opportunity, plus I've been negotiating with the owner for a very very long time - (2 - 3 years). She finally bit the bait and I landed it on the boat. They stopped making land long long ago, plus, the deal was way better for me than the seller. The same person who sold me the lot where I was doing the project is the very individual who sold me that piece up the hill. She's native of that area and has, well had, hue tracts. About the project, will be posting updates very soon - when all is done! “None but ourselves can free our minds.”
- Bob Marley
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Rank: Veteran Joined: 2/21/2012 Posts: 1,739
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Penny-Stocker wrote:Am wrote:Penny-Stocker wrote: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) @Rapudox - some good news to report. I was able to get 0.6 acre @1M (very very good deal - with a view of the lake, town, airport and sun set. That's for a future dream home! When are in Kisumu next? Yawa @Penny are you 30 Yet? You real Investor. How did the Kisumo Project go? Kwisha maliza? @Am...hehehe...I will be 30 in November...just found a one time opportunity, plus I've been negotiating with the owner for a very very long time - (2 - 3 years). She finally bit the bait and I landed it on the boat. They stopped making land long long ago, plus, the deal was way better for me than the seller. The same person who sold me the lot where I was doing the project is the very individual who sold me that piece up the hill. She's native of that area and has, well had, hue tracts. About the project, will be posting updates very soon - when all is done! Poa Bro. Send us the Fotos here when you can? Do not be anxious about anything, but in everything, by prayer and petition, with thanksgiving, present your requests to God..
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Wazua
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4 family (3 bed/2bath) flat budget Ksh. 5m
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