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How did you make your first Kes million?
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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