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heri
#1 Posted : Monday, August 10, 2020 9:20:31 PM
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Joined: 9/14/2011
Posts: 834
Location: nairobi
Where can one get a comprehensive list of properties up for sale in Nairobi?
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winmak
#2 Posted : Tuesday, August 11, 2020 11:13:17 AM
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Joined: 12/1/2007
Posts: 537
Location: Nakuru
I once asked one lady Wazuan for the juicy deals but she said 'ni kujuana'...
For investors as a whole, returns decrease as motion increases ~ WB
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tony stark
#3 Posted : Tuesday, August 11, 2020 1:55:53 PM
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Joined: 7/8/2008
Posts: 947
winmak wrote:
I once asked one lady Wazuan for the juicy deals but she said 'ni kujuana'...


It is unfortunate but true.

There is no list of juicy properties. The juice is in the kutafuta once it's on a list all the juice has been squeezed out of it.

Mambo ni kutafuta!
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wukan
#4 Posted : Tuesday, August 11, 2020 2:39:33 PM
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Joined: 11/13/2015
Posts: 1,568
winmak wrote:
I once asked one lady Wazuan for the juicy deals but she said 'ni kujuana'...


I stopped sharing information on wazua. Folks are too bitter and negative here.

There was a time even shared the entire auction list from the banks and got no response.
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heri
#5 Posted : Tuesday, August 11, 2020 3:14:50 PM
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Joined: 9/14/2011
Posts: 834
Location: nairobi
tony stark wrote:
winmak wrote:
I once asked one lady Wazuan for the juicy deals but she said 'ni kujuana'...


It is unfortunate but true.

There is no list of juicy properties. The juice is in the kutafuta once it's on a list all the juice has been squeezed out of it.

Mambo ni kutafuta!


I thought with Corona the distressed list of properties will be enough to go round
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deadpoet
#6 Posted : Tuesday, August 11, 2020 3:48:41 PM
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Joined: 9/27/2006
Posts: 496
heri wrote:
Where can one get a comprehensive list of properties up for sale in Nairobi?


Auctioneers maybe?
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Angelica _ann
#7 Posted : Tuesday, August 11, 2020 3:50:49 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,901
deadpoet wrote:
heri wrote:
Where can one get a comprehensive list of properties up for sale in Nairobi?


Auctioneers maybe?


By the time Auctioneers come in, the good deals have been done.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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mulla
#8 Posted : Wednesday, August 12, 2020 12:16:17 PM
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Joined: 6/15/2013
Posts: 301
winmak wrote:
I once asked one lady Wazuan for the juicy deals but she said 'ni kujuana'...

If you are very serious about buying approach any number of banks, state your position and exchange numbers. You will receive information before reaching the auction.
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quicksand
#9 Posted : Wednesday, August 12, 2020 1:45:30 PM
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Joined: 7/5/2010
Posts: 2,061
Location: Nairobi
heri wrote:
tony stark wrote:
winmak wrote:
I once asked one lady Wazuan for the juicy deals but she said 'ni kujuana'...


It is unfortunate but true.

There is no list of juicy properties. The juice is in the kutafuta once it's on a list all the juice has been squeezed out of it.

Mambo ni kutafuta!


I thought with Corona the distressed list of properties will be enough to go round


Me too.
No significant drop in prices in some of the stuff I follow keenly.
No visible signs of distress from banks. I am convinced there are very many non-performing loans, probably backed by dead assets. The ratios remain green in the books, do write-downs ever happen in this country? This is my personal opinion here, I believe there is massive financial engineering, fraud and other monkey business in this country.
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MaichBlack
#10 Posted : Wednesday, August 12, 2020 2:28:58 PM
Rank: Elder


Joined: 7/22/2009
Posts: 7,451
wukan wrote:
winmak wrote:
I once asked one lady Wazuan for the juicy deals but she said 'ni kujuana'...


I stopped sharing information on wazua. Folks are too bitter and negative here.

There was a time even shared the entire auction list from the banks and got no response.

You should keep sharing. There might be 10 bitter people who will shout from rooftops and 500 very appreciative but silent people. Ignore the 10!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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MaichBlack
#11 Posted : Wednesday, August 12, 2020 2:33:53 PM
Rank: Elder


Joined: 7/22/2009
Posts: 7,451
These information would be very helpful @Wunkan. I remember some 4 plots that were in distress and the bank gave the owner an opportunity to get buyers and the transactions would be done through the bank. The owner was asking for 5 million per plot I think (market price 6.5 million). He didn't get a buyer. In the end, the bank sold them at 2.8 million per plot to a fellow who was lucky enough to get the info. No corruption. Just information!!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Kusadikika
#12 Posted : Wednesday, August 12, 2020 2:54:54 PM
Rank: Elder


Joined: 7/22/2008
Posts: 2,695
heri wrote:
Where can one get a comprehensive list of properties up for sale in Nairobi?


Sijui kwa nini watu hawajibu swali lako.

Here:

https://www.garam.co.ke/...TY-LIST-AUGUST-2020.pdf
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Kusadikika
#13 Posted : Wednesday, August 12, 2020 2:56:50 PM
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Joined: 7/22/2008
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Kusadikika
#14 Posted : Wednesday, August 12, 2020 2:59:20 PM
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Joined: 7/22/2008
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VituVingiSana
#15 Posted : Wednesday, August 12, 2020 6:45:32 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,050
Location: Nairobi
MaichBlack wrote:
These information would be very helpful @Wunkan. I remember some 4 plots that were in distress and the bank gave the owner an opportunity to get buyers and the transactions would be done through the bank. The owner was asking for 5 million per plot I think (market price 6.5 million). He didn't get a buyer. In the end, the bank sold them at 2.8 million per plot to a fellow who was lucky enough to get the info. No corruption. Just information!!

The market price = 2.8mn
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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amorphous
#16 Posted : Wednesday, August 12, 2020 8:19:38 PM
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Joined: 5/15/2019
Posts: 669
Location: planet earth
*
Age and family mellows us all over time
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itz
#17 Posted : Friday, August 14, 2020 12:56:53 AM
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Joined: 3/20/2009
Posts: 348
MaichBlack wrote:
These information would be very helpful @Wunkan. I remember some 4 plots that were in distress and the bank gave the owner an opportunity to get buyers and the transactions would be done through the bank. The owner was asking for 5 million per plot I think (market price 6.5 million). He didn't get a buyer. In the end, the bank sold them at 2.8 million per plot to a fellow who was lucky enough to get the info. No corruption. Just information!!



The bank cannot sell/auction the property below 75% of market value which would be 4.875M using your numbers.The owner can sue and get his property back.This is the reason properties are not selling because of the exaggerated "market value"
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MaichBlack
#18 Posted : Friday, August 14, 2020 3:42:37 AM
Rank: Elder


Joined: 7/22/2009
Posts: 7,451
itz wrote:
MaichBlack wrote:
These information would be very helpful @Wunkan. I remember some 4 plots that were in distress and the bank gave the owner an opportunity to get buyers and the transactions would be done through the bank. The owner was asking for 5 million per plot I think (market price 6.5 million). He didn't get a buyer. In the end, the bank sold them at 2.8 million per plot to a fellow who was lucky enough to get the info. No corruption. Just information!!



The bank cannot sell/auction the property below 75% of market value which would be 4.875M using your numbers.The owner can sue and get his property back.This is the reason properties are not selling because of the exaggerated "market value"

This is very difficult to prove. Just because other fellows have sold their plots at 6.5 million, how do you prove this is the "market price"? You would need to get one of them to come testify. Good luck with that. And the bank can always produce a witness who bought at a lower value.
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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VituVingiSana
#19 Posted : Friday, August 14, 2020 5:10:38 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,050
Location: Nairobi
What Is Market Value?
Market value (also known as OMV, or "open market valuation") is the price an asset would fetch in the marketplace, or the value that the investment community gives to a particular equity or business.

https://www.investopedia...terms/m/marketvalue.asp

What is the Market Price?
The market price is the current price at which an asset or service can be bought or sold. The economic theory contends that the market price converges at a point where the forces of supply and demand meet.

https://www.investopedia...erms/m/market-price.asp

6.5mn? Laughing out loudly Laughing out loudly Laughing out loudly
5mn? Laughing out loudly Laughing out loudly Laughing out loudly
2.8mn Applause Applause Applause
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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mulla
#20 Posted : Friday, August 14, 2020 9:32:47 AM
Rank: Member


Joined: 6/15/2013
Posts: 301
MaichBlack wrote:
itz wrote:
MaichBlack wrote:
These information would be very helpful @Wunkan. I remember some 4 plots that were in distress and the bank gave the owner an opportunity to get buyers and the transactions would be done through the bank. The owner was asking for 5 million per plot I think (market price 6.5 million). He didn't get a buyer. In the end, the bank sold them at 2.8 million per plot to a fellow who was lucky enough to get the info. No corruption. Just information!!



The bank cannot sell/auction the property below 75% of market value which would be 4.875M using your numbers.The owner can sue and get his property back.This is the reason properties are not selling because of the exaggerated "market value"

This is very difficult to prove. Just because other fellows have sold their plots at 6.5 million, how do you prove this is the "market price"? You would need to get one of them to come testify. Good luck with that. And the bank can always produce a witness who bought at a lower value.


Wouldn't the bank need a registered valuer to give a valutaion statement of the plot, and whose decision will be based on the recent historical sale figures of plots in that area.
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