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Yet another project: (9 family 2bed/1bath) 10m budget
Penny-Stocker
#11 Posted : Sunday, July 31, 2016 10:31:56 PM
Rank: Member

Joined: 10/31/2010
Posts: 154
Tara wrote:
@Penny-Stocker, what is the size of this plot and the previous one?

My first project sits on about an eighth of an acre. My planned project will sit on about a fourth of an acre
“None but ourselves can free our minds.”
- Bob Marley
Penny-Stocker
#12 Posted : Sunday, July 31, 2016 10:33:31 PM
Rank: Member

Joined: 10/31/2010
Posts: 154
MaichBlack wrote:
@Penny-Stocker

Applause Applause Applause Applause Applause Applause

Good job bro.

I also have a plan to do rentals at some point (Cash only. No mortgage!) and you will definitely be one of the people I will be talking to before embarking on the project. Nothing beats hands on experience! And there is no better advice than from someone with no vested interests.

All the best in your next project. I am sure this one will be much smoother - with all the acquired experience!

Thanks Maich!
“None but ourselves can free our minds.”
- Bob Marley
Penny-Stocker
#13 Posted : Sunday, July 31, 2016 10:35:17 PM
Rank: Member

Joined: 10/31/2010
Posts: 154
mungaits wrote:
Hi @Penny-Stocker, great work, hongera sana.

Any experience with bedsitters?

Cheers

No experience at all. Thought about putting some around a college campus but can't seem to justify the high cost of land around these institutions.
“None but ourselves can free our minds.”
- Bob Marley
Ebenyo
#14 Posted : Monday, August 01, 2016 6:45:43 AM
Rank: Veteran

Joined: 4/4/2016
Posts: 2,021
Location: Kitale
Good work bro.After you finish building,do you sell them or do you rent them out? what was your start up capital?
Towards the goal of financial freedom
Kurious
#15 Posted : Monday, August 01, 2016 8:14:53 AM
Rank: New-farer

Joined: 6/26/2013
Posts: 15
Penny-Stocker wrote:
Hi Wazua community! After a successful completion of this project (linked) Penny is off to yet another. This time, targeting the "middle class" in Kisumu with 2 bedroom/ 1bath units. 3 storey /3 units per floor totaling 9 units in all.Budget is KSh.10m/US$100K. My plans are stuck with NEMA as I type this...mambo za Kenya yetu. As always, I hope to provide frequent updates, sharing both success and challenges! Bank otuch!
Regards,
Penny!

Here are shots from last project!









Monday morning inspiration as we start another week on the rat race Applause
Penny-Stocker
#16 Posted : Tuesday, August 02, 2016 2:12:40 AM
Rank: Member

Joined: 10/31/2010
Posts: 154
Ebenyo wrote:
Good work bro.After you finish building,do you sell them or do you rent them out? what was your start up capital?


I rent them out. My seed capital was a second mortgage on my house....which I paid off soon after.
“None but ourselves can free our minds.”
- Bob Marley
Tara
#17 Posted : Tuesday, November 08, 2016 7:36:18 PM
Rank: New-farer

Joined: 12/18/2012
Posts: 94
Any updates on this project?
Taurrus
#18 Posted : Thursday, November 10, 2016 2:40:25 PM
Rank: Member

Joined: 8/25/2015
Posts: 839
Location: Kite
Swenani wrote:
Great @senti stocker, You came back at the right time...I have been thinking of putting up rentals too but in one of the towns in North rift on 1/4 plot....Torn between doing single rooms or one bedroom -Budget Kes 6M....Anticipated started date Dec 2016/Jan 2017

Btw, what is the size in M2 for one unit?


Kama ni za Kunyanduana,go for single rooms 1M by 1.5 M tosha!smile
webish
#19 Posted : Tuesday, November 15, 2016 10:18:46 AM
Rank: Member

Joined: 10/19/2009
Posts: 671
Location: Nairobi
Tara wrote:
Any updates on this project?


Quite eager as well. smile

Life is joy, death is peace, but the transition is very difficult.
Surething
#20 Posted : Wednesday, November 16, 2016 10:27:49 AM
Rank: New-farer

Joined: 7/12/2016
Posts: 39
Location: Nairobi
webish wrote:
Tara wrote:
Any updates on this project?


Quite eager as well. smile

Was immensely encouraged by @pennystocker's previous project to finally take the plunge this year with a two storey 6 unit apartment block (3 bedroom, 2 Bath) on part of half an acre in one of the county headquarters in western kenya. Plan approval at the county just completed after an inordinately long wait, now on to NEMA then NCA. Hoping to break ground in early January. Meanwhile been keeping myself busy: fenced,built a pit latrine, put in a water & three phase electricity connection, built a tank base and installed a 10k litre tank, built a septic tank, soak pit and store..... Currently manufacturing cement blocks on site and tending to the landscape in areas not being affected by building works and planning to sink a shallow well to supplement the irregular kanjo supply to the 10,000 litre tank which will be of immense benefit when construction commences. Having done the math, these days I just shake my head when I see people forking out 10's of millions for a single not particularly well done unit.
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