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How did you make your first Kes million?
Rank: Elder Joined: 2/16/2007 Posts: 2,114
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I like this: "Would you go if you were appointed ambassador, I push him on, but he crosses his legs and sits with hands akimbo and says, “My friend, I am the ambassador of a nuclear republic, Uganda is a banana republic, I am better off where I am.” On the other hand how does banana juice taste like?
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Rank: Veteran Joined: 7/22/2008 Posts: 1,139
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.. "You're not supposed to be so blind with patriotism that you can't face reality. Wrong is wrong, no matter who says it". Malcolm X
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Rank: Member Joined: 9/9/2010 Posts: 546 Location: Garissa
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Vj wrote:Made my first million at the age of 19, while still in university in UK. I used to paint peoples houses on my own (at half the cost of local painters), as i got more houses to paint I got other uni students to work for me, and soon i was painting around 5 houses a week. Within two years I saved up around 20,000 pounds and used it as down payment to buy a small rundown 2 bedroom house(my family really helped me at this time in getting the mortgage and giving me confidence). I renovated the house and within 4 months sold it at a 30% profit. After that i kept buying and selling property till i finished my course and headed back to Kenya.
Came back home with enough money to buy a plot of land and build a block of apartments and got into the property developing business. Vj, do I know you? Do you have a concours car? Wisdom to detect when share prices hit rock bottom.
When interest on bonds keep going up, you know the bear run is on high street. When interest on bonds start leveling, the bear has met the bull and they have hit rock bottom. When the interest rates on bonds start coming down, the bull has overpowered the bear and you better be riding the bull.
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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Chaka wrote:I like this: "Would you go if you were appointed ambassador, I push him on, but he crosses his legs and sits with hands akimbo and says, “My friend, I am the ambassador of a nuclear republic, Uganda is a banana republic, I am better off where I am.” On the other hand how does banana juice taste like? Like may be the urine of a ngamia.  Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 9/7/2010 Posts: 2,148 Location: elderville
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The guy is too full of himself. Ati call me Dr. or His Excellency! And why do some people call themselves Dr. while all,they have is an honorary doctorate? He who can express in words the ardour of his love, has but little love to express. - Petrach, Son. (That men by various ways arrive at the same end. - Montaigne, The Essays of.)
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Rank: User Joined: 1/24/2012 Posts: 1,675 Location: In Da Hood
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Rank: Veteran Joined: 3/16/2009 Posts: 1,464
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Rank: Veteran Joined: 5/11/2010 Posts: 918
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Burning Spear wrote:bought a plot at membley at 200,000 in 2005,I had taken a loan.
This was for speculation purposes but was buying coz my collegues were buying.I sold the same plot last year at 1.8m coz I wanted to inject capital into my business that a was doing on the side beside being employed.
Out of the business,I have bot another plot at Muigai inn and another in Kitengela through a wazuan investor.
So,to be brief,my business after the capital injection is worth something like 4 million.I have two plots and still employed and still getting return on a daily basis.I foresee quiting employement late this year.I am 30 years old. Inspiring story here. Got round to quiting employment? It's a great thing to pull off at 30 you know. Learn first to treat your time as you would your money, then treat your money as you do your time.
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Rank: Veteran Joined: 1/25/2012 Posts: 1,624 Location: Langley
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You can learn two or more things from this http://www.rediff.com/ge...ead/2005/may/12crore.htmIf you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.
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Rank: Member Joined: 11/24/2011 Posts: 833
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quite some thread this one
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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madhaquer wrote:In 2005 I was 24 and flat broke after working for about 5 years in full employment. I joined a sacco started saving religiously and investing in stocks. Took a loan of 800k in 2007 bought 1/2 acre on what is now the eastern bypass (1/8 is going for 1.5mil). Later in 2007 i bought 4 plots in Kamulu each worth around 40k (today going for 200k)
Same year I cashed 400k out of nse and bought a car.
Now I'm building my own house so as to move away from the landlord.
I am still scouting for a decent second source of regular cashflow and also hold some pieces of land bought with friends.
I have done alot of things wrong like drinking beyond my budget regularly, investing in forex blindly (cost me 250k), lending friends who never repay, getting into the tuk tuk business, buying livestock etc...
I calculated my networth recently and estimated it to be 3.5m. How did I get here ? Wouldn't have done it without taking the risks to invest in all this stuff, wouldn't have learnt if it was not for all those risks. It's been a fun ride. I'm targeting 10m by 2012. Sounds so much like me  "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: User Joined: 1/24/2012 Posts: 1,675 Location: In Da Hood
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murchr wrote:madhaquer wrote:In 2005 I was 24 and flat broke after working for about 5 years in full employment. I joined a sacco started saving religiously and investing in stocks. Took a loan of 800k in 2007 bought 1/2 acre on what is now the eastern bypass (1/8 is going for 1.5mil). Later in 2007 i bought 4 plots in Kamulu each worth around 40k (today going for 200k)
Same year I cashed 400k out of nse and bought a car.
Now I'm building my own house so as to move away from the landlord.
I am still scouting for a decent second source of regular cashflow and also hold some pieces of land bought with friends.
I have done alot of things wrong like drinking beyond my budget regularly, investing in forex blindly (cost me 250k), lending friends who never repay, getting into the tuk tuk business, buying livestock etc...
I calculated my networth recently and estimated it to be 3.5m. How did I get here ? Wouldn't have done it without taking the risks to invest in all this stuff, wouldn't have learnt if it was not for all those risks. It's been a fun ride. I'm targeting 10m by 2012. please tell me more . am in the forex trading business maybe i can help . 250k is allot of money !
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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QW25091985 wrote:murchr wrote:madhaquer wrote:In 2005 I was 24 and flat broke after working for about 5 years in full employment. I joined a sacco started saving religiously and investing in stocks. Took a loan of 800k in 2007 bought 1/2 acre on what is now the eastern bypass (1/8 is going for 1.5mil). Later in 2007 i bought 4 plots in Kamulu each worth around 40k (today going for 200k)
Same year I cashed 400k out of nse and bought a car.
Now I'm building my own house so as to move away from the landlord.
I am still scouting for a decent second source of regular cashflow and also hold some pieces of land bought with friends.
I have done alot of things wrong like drinking beyond my budget regularly, investing in forex blindly (cost me 250k), lending friends who never repay, getting into the tuk tuk business, buying livestock etc...
I calculated my networth recently and estimated it to be 3.5m. How did I get here ? Wouldn't have done it without taking the risks to invest in all this stuff, wouldn't have learnt if it was not for all those risks. It's been a fun ride. I'm targeting 10m by 2012. please tell me more . am in the forex trading business maybe i can help . 250k is allot of money !
@Qw - 250k (approx $3000) is not much in fx. That can be easily burnt up during serious volatility events.
For best results $10,000 gives more room for errors & recovery.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: User Joined: 1/24/2012 Posts: 1,675 Location: In Da Hood
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hisah wrote:QW25091985 wrote:murchr wrote:madhaquer wrote:In 2005 I was 24 and flat broke after working for about 5 years in full employment. I joined a sacco started saving religiously and investing in stocks. Took a loan of 800k in 2007 bought 1/2 acre on what is now the eastern bypass (1/8 is going for 1.5mil). Later in 2007 i bought 4 plots in Kamulu each worth around 40k (today going for 200k)
Same year I cashed 400k out of nse and bought a car.
Now I'm building my own house so as to move away from the landlord.
I am still scouting for a decent second source of regular cashflow and also hold some pieces of land bought with friends.
I have done alot of things wrong like drinking beyond my budget regularly, investing in forex blindly (cost me 250k), lending friends who never repay, getting into the tuk tuk business, buying livestock etc...
I calculated my networth recently and estimated it to be 3.5m. How did I get here ? Wouldn't have done it without taking the risks to invest in all this stuff, wouldn't have learnt if it was not for all those risks. It's been a fun ride. I'm targeting 10m by 2012. please tell me more . am in the forex trading business maybe i can help . 250k is allot of money !
@Qw - 250k (approx $3000) is not much in fx. That can be easily burnt up during serious volatility events.
For best results $10,000 gives more room for errors & recovery.
wow i guess hisah we are living bin two different worlds . them much i have lost in fx is 700$ and i thought my life was doomed . i dnt think i would sleep well if i lost more that 1000 dollars.. But that is fx . with poor money management you can loose your all in seconds!
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Rank: Member Joined: 4/25/2012 Posts: 261
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madhaquer wrote:In 2005 I was 24 and flat broke after working for about 5 years in full employment. I joined a sacco started saving religiously and investing in stocks. Took a loan of 800k in 2007 bought 1/2 acre on what is now the eastern bypass (1/8 is going for 1.5mil). Later in 2007 i bought 4 plots in Kamulu each worth around 40k (today going for 200k)
Same year I cashed 400k out of nse and bought a car.
Now I'm building my own house so as to move away from the landlord.
I am still scouting for a decent second source of regular cashflow and also hold some pieces of land bought with friends.
I have done alot of things wrong like drinking beyond my budget regularly, investing in forex blindly (cost me 250k), lending friends who never repay, getting into the tuk tuk business, buying livestock etc...
I calculated my networth recently and estimated it to be 3.5m. How did I get here ? Wouldn't have done it without taking the risks to invest in all this stuff, wouldn't have learnt if it was not for all those risks. It's been a fun ride. I'm targeting 10m by 2012. Thats inspiring @ Madahana !
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Rank: Member Joined: 2/12/2010 Posts: 474 Location: Nairobi
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Are there no more new first millions being made? Keep it simple
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Rank: Elder Joined: 6/20/2012 Posts: 3,855 Location: Othumo
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Nowadays it is done in batches of 5 million! Thieves
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Rank: Member Joined: 3/26/2012 Posts: 830
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Mine wasnt really making my first million,someone accidentally deposited 3.2million in my equity bank ac/....before I could even know what was happening,my account was frozen...i was able to access it after two days,but the money wasnt there of course... A successful man is not he who gets the best, it is he who makes the best from what he gets.
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Rank: Elder Joined: 4/30/2008 Posts: 6,029
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SMutaga111,then you should know Wahinya.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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S.Mutaga III wrote:Mine wasnt really making my first million,someone accidentally deposited 3.2million in my equity bank ac/....before I could even know what was happening,my account was frozen...i was able to access it after two days,but the money wasnt there of course... Equity should compensate you for the disturbance and mental torture you underwent after seeing the many zeros disappear so soon.  "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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