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Which one should come first??
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Marty
#1 Posted : Tuesday, February 07, 2012 2:42:55 PM
Rank: Veteran

Joined: 3/31/2008
Posts: 761
Location: Nairobi
A friend asked me a good question.

The guy has some 5M readily available. The main intention to raise the said amount was to build a dream house for his family as he already has a plot in Membley. This would ideally save him rent and ensure the family live comfortably.

However, on critical analysis, he also thought he'd buy a prime plot and start incremental development of flats for rental purposes as opposed to the dream home to generate income and eventually develop the dream house later.

So his big question was which one should come first. I don't have a clear cut answer to the guy but it got me thinking and hard. Any views on the matter?
When I admire the wonder of a sunset or the beauty
of the moon, my soul expands in worship of the Creator.
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FancyFace
#2 Posted : Tuesday, February 07, 2012 3:25:47 PM
Rank: Member

Joined: 7/31/2009
Posts: 743
....which one came first, the egg or the shiken?? :)

Problems can get out of proportion, and not only in the wee small hours. Don't let the problems eclipse the Master. Let the Master eclipse the problems.
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2012
#3 Posted : Tuesday, February 07, 2012 3:36:30 PM
Rank: Elder

Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
Where would he get a prime plot for 5m? And by when and with what would he build the flats?

He should invest the money. Right now I think holding cash for interest either in bills, bonds, fixed depo etc would be the best thing to do.

BBI will solve it :)
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limanika
#4 Posted : Tuesday, February 07, 2012 4:40:03 PM
Rank: Veteran

Joined: 9/21/2011
Posts: 2,032
Tell him to buy a commercial plot 1.5-2m in an area like Mwiki and fence it out. Use the rest to build his house to a level he can move in and continue building slowly without having to pay rent. He will thank you after 5 yrs. My 2 cents.
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B.Timer
#5 Posted : Tuesday, February 07, 2012 5:45:25 PM
Rank: Veteran

Joined: 5/31/2008
Posts: 1,076

Idealy the flats plan should prevail.

However all factors have to be considered and professional advice sought.

I say so because the 5M figure may not suffice to do a flat.
Dunia ni msongamano..
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Marty
#6 Posted : Wednesday, February 08, 2012 8:10:30 AM
Rank: Veteran

Joined: 3/31/2008
Posts: 761
Location: Nairobi
B.Timer wrote:

Idealy the flats plan should prevail.

However all factors have to be considered and professional advice sought.

I say so because the 5M figure may not suffice to do a flat.


Of course 5m is not enough to do flats but his idea was he can buy a plot say in Kasarani or along the eastern bypass(Ruiru) for say 2.5M and start the structure. He can raise the cash for the development pole pole as he is a man of means. That would mean the home will have to come much later
When I admire the wonder of a sunset or the beauty
of the moon, my soul expands in worship of the Creator.
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