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Land Buying Company
Pablo
#1 Posted : Tuesday, May 19, 2009 9:58:00 AM
Rank: Member


Joined: 3/17/2008
Posts: 567
Location: Nairobi
Recently I was having a drink with a buddy in one of those river road joints frequented by some old wazees. My buddy,who happens to be a lawyer,tells me he goes there cause there is lots of business that goes on there.

On this day we were there,there was a big table with about 15 wazees talking very animatedly and when I found out what ther were discussing I was very interested and we went and sat with them courtesy of my buddy. They were discussing a land buying opportunity which required about 400M. It was a 380Ac piece being auctioned by Garam Auctioneers on Kiambu rd just after Runda and Paradise Lost.

The deal was simple deposit 1M or multiples of 1M,keep the banking slip. This will be your share capital. The company is registered and the ac signatories agreed on. The plan,Bid for the land,if successful get it and subdivide it if not look for another piece and do the same.

My issue is can we younger people pull such deals off?,these guys may end up owning land that costs 15 - 20M for an M or so.

Kularaha,an idea for SK investment Group.




Be greedy when others are fearful,be fearful when others are greedy.
adept
#2 Posted : Tuesday, May 19, 2009 10:09:00 AM
Rank: Member


Joined: 12/8/2008
Posts: 359
Brilliant idea especially if the paperwork is water tight.

I have tremendous respect for some of these wazees when it comes to investment foresight by the way.
KulaRaha
#3 Posted : Tuesday, May 19, 2009 12:43:00 PM
Rank: Elder


Joined: 7/26/2007
Posts: 6,514
Eskay Inv co is looking for some land at this moment.

Any sellers?


Business opportunities are like buses,there's always another one coming
Business opportunities are like buses,there's always another one coming
young
#4 Posted : Tuesday, May 19, 2009 1:33:00 PM
Rank: Elder


Joined: 6/20/2007
Posts: 2,037
Location: Lagos, Nigeria
For land matters please do your due diligence to avoid being conned. More ideal to buy from a reputable estate company.

It is nice to see that people are gradually aware that stocks and real estate investment is a good combination especially in sub shara africa with high cost of funds and non existing mass housing plan for citizens and no standardized mortgage.

It will also be interesting if the first investment of Eskay Inv is in real estate and not stocks. Even the lead article of stockskenya is on real estate !!!


AFRICAN INVESTOR
The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
Wendz
#5 Posted : Tuesday, May 19, 2009 1:37:00 PM
Rank: Elder


Joined: 6/19/2008
Posts: 4,268
Pablo has a point. Most of these guys have excelled because of pulling resources. If you wait till you get your 20M to do something significant,it will be impossible.

Look at the likes of Njenga karume,kibaki,the mois,kirubis,wairegi,who is that chairman of Equity?,jimna etc. they dont own companies on their own.... They have known the secret.


Some deals are like glass. Sometimes it's better to leave them broken than try to hurt yourself putting it back together.
Fundaah
#6 Posted : Tuesday, May 19, 2009 1:50:00 PM
Rank: Elder


Joined: 11/19/2008
Posts: 1,267
@ KulaRaha.. you mean Sk investment company is already in existence?..any more slots for one to join ?....I'm very ready to board if there is ....actually immediately ..

I mean fundamental analysis,you get me?

Fundamental analysis of a business involves analyzing its financial statements and health,its management and competitive advantages,and its competitors
Isaiah 65:17-Look! I am creating new heavens and a new earth, and no one will even think about the old ones anymore
Marty
#7 Posted : Monday, November 30, 2009 8:04:10 AM
Rank: Veteran


Joined: 3/31/2008
Posts: 761
Location: Nairobi
I am a director of a company that pulls resources and buy/sells land. The synergy achieved by pooling resources is massive.

@kularaha,
where r u lookin for alnd and what size. I could be of help.
When I admire the wonder of a sunset or the beauty
of the moon, my soul expands in worship of the Creator.
Litro
#8 Posted : Monday, November 30, 2009 12:56:22 PM
Rank: Member


Joined: 7/22/2009
Posts: 120
Location: KENYA
Thats the way to go people. Am also a newbie in the real estate biz having recently got my papers and with over two years experience in the same. I concur that pooling resources is the way to go. For instance, am currently finalizing on a feasibility for some wazees who want to buy a 100 acre parcel in Runda, subdivide it and sell it and i can confidently say that the prospects look great.
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