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4 family (3 bed/2bath) flat budget Ksh. 5m
Rank: Member Joined: 9/26/2006 Posts: 404 Location: CENTRAL PROVINCE
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Penny-Stocker wrote:To all, like I said in my initial post, almost a year ago...it's never to early to start investing for your retirement! I'm only 29yrs and in about 4 months, I'll be collecting 120K from rent @30K per unit...on top of my 240K net salary (that's 360K)! Looking at putting up 6more units in a 5 years time, working for 5 more years after that....retirement at 40yrs! I'm loving this! Good one........so about Ksh 6M invested for a Ksh 120K monthly return (Ksh 1.44M per year). Thats about a gross return of 24% p.a.....not bad! You giving me ideas. Happy hunting.
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Congrats, that is determination. next time i am in Kisumo, i will holla! 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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Rank: New-farer Joined: 10/17/2012 Posts: 26 Location: Nairobi
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Congrats Pennystocker... A job well done.
2 questions: when you calculate the cost per square metre, what does it come to? Your total figure is rather encouraging
And I have an 8th piece at Polyview (makaburini) and my friends advice that spacious 2 bedroom would earn between 15 - 20k. How is it that you anticipate 30k for your units located 15km away cf mine 4km from CBD
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Rank: Veteran Joined: 12/21/2011 Posts: 1,010
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@Penny-Stocker , weka email hapa kuan maswali. u mean 6M u can do 4 houses and they are 3 bed-room?
@a4architect, is this possible in nairobi?
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Rank: Member Joined: 7/6/2010 Posts: 242
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What was the size of Your plot pennystock ? Am impressed .
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Rank: Veteran Joined: 1/4/2010 Posts: 1,668 Location: nairobi
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wilyum wrote:@Penny-Stocker , weka email hapa kuan maswali. u mean 6M u can do 4 houses and they are 3 bed-room?
@a4architect, is this possible in nairobi? @Wilyum. The lowest lowest lowest cost possible for a very poorly finsihed building that can be decently rented out is kes 15k per m2. The smallest smallest smallest 2 bd house that you can decently rent out is 40m2. The unit will cost 40m2 x 15k =600k. With 6m, you can build 10 units. If you increase the size and quality , its possible to build 4 units with 6m. As Iron Sharpens Iron, So one Man Sharpens Another.
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Rank: Member Joined: 10/31/2010 Posts: 154
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lietmach wrote:Congrats Pennystocker... A job well done.
2 questions: when you calculate the cost per square metre, what does it come to? Your total figure is rather encouraging
And I have an 8th piece at Polyview (makaburini) and my friends advice that spacious 2 bedroom would earn between 15 - 20k. How is it that you anticipate 30k for your units located 15km away cf mine 4km from CBD
I can demand 30K/month because of the following:
1. Three spacious bedrooms (two bathrooms - master one en-suite), spacious living room and a separate dining!
2. Location is Mamboleo. Pretty safe area and very fast developing.
Below is my floor plan! First floor is identical to ground floor. 
3. I have ample parking - talking of 6 cars!I'm hoping to have this done by July and occupied by August - we'll see if I make the deadline! “None but ourselves can free our minds.”
- Bob Marley
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Rank: Member Joined: 10/31/2010 Posts: 154
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josimar wrote:What was the size of Your plot pennystock ? Am impressed . 0.16 Ha or 0.4 Acre. Determination bro...will take you far! “None but ourselves can free our minds.”
- Bob Marley
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Rank: Member Joined: 10/31/2010 Posts: 154
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wilyum wrote:@Penny-Stocker , weka email hapa kuan maswali. u mean 6M u can do 4 houses and they are 3 bed-room?
@a4architect, is this possible in nairobi? Yes, I'm at just under 5m at the moment 4.7something.
I am yet to tile the floors, build cabinets and interior doors, weka vyo and paint“None but ourselves can free our minds.”
- Bob Marley
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Rank: Member Joined: 10/31/2010 Posts: 154
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Angelica _ann wrote:Congrats, that is determination. next time i am in Kisumo, i will holla! Sure, we can grab some tusker baridi! “None but ourselves can free our minds.”
- Bob Marley
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Rank: Member Joined: 10/31/2010 Posts: 154
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stocksmaster wrote:Penny-Stocker wrote:To all, like I said in my initial post, almost a year ago...it's never to early to start investing for your retirement! I'm only 29yrs and in about 4 months, I'll be collecting 120K from rent @30K per unit...on top of my 240K net salary (that's 360K)! Looking at putting up 6more units in a 5 years time, working for 5 more years after that....retirement at 40yrs! I'm loving this! Good one........so about Ksh 6M invested for a Ksh 120K monthly return (Ksh 1.44M per year). Thats about a gross return of 24% p.a.....not bad! You giving me ideas. Happy hunting. Na hiyo ni heasbu kamili! Asured return of at least 20%. Which bank gives that? None....! Na hiyo ni ni maendeleo! “None but ourselves can free our minds.”
- Bob Marley
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Rank: New-farer Joined: 5/25/2010 Posts: 27 Location: Nairobi
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Rank: Member Joined: 11/8/2012 Posts: 257
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Amazing,source of financing;Savings or Loan from the bank/Sacco?
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Rank: Member Joined: 10/31/2010 Posts: 154
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Mjasirii wrote:Amazing,source of financing;Savings or Loan from the bank/Sacco? Ambos (both)! 60% Savings and 40% bank loan. “None but ourselves can free our minds.”
- Bob Marley
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Rank: Veteran Joined: 1/4/2010 Posts: 1,668 Location: nairobi
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Penny-Stocker wrote:wilyum wrote:@Penny-Stocker , weka email hapa kuan maswali. u mean 6M u can do 4 houses and they are 3 bed-room?
@a4architect, is this possible in nairobi? Yes, I'm at just under 5m at the moment 4.7something.
I am yet to tile the floors, build cabinets and interior doors, weka vyo and paint To finish with the remainder of 1.3 m , you need to be extra careful since finishes and external works e.g gate,septic tank ,kplc, water tank,water connection,driveway, landscaping take 30 to 40% of costs. 30% of 4.7m is 1.4m. so it will slightly pass the 6m mark if cost saving features such as material specifications and labour utilisation are not done keenly. As Iron Sharpens Iron, So one Man Sharpens Another.
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Rank: Veteran You have been a member since:: 12/8/2009 Posts: 975 Location: Nairobi
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Penny-Stocker wrote:stocksmaster wrote:Penny-Stocker wrote:To all, like I said in my initial post, almost a year ago...it's never to early to start investing for your retirement! I'm only 29yrs and in about 4 months, I'll be collecting 120K from rent @30K per unit...on top of my 240K net salary (that's 360K)! Looking at putting up 6more units in a 5 years time, working for 5 more years after that....retirement at 40yrs! I'm loving this! Good one........so about Ksh 6M invested for a Ksh 120K monthly return (Ksh 1.44M per year). Thats about a gross return of 24% p.a.....not bad! You giving me ideas. Happy hunting. Na hiyo ni heasbu kamili! Asured return of at least 20%. Which bank gives that? None....! Na hiyo ni ni maendeleo! Penny-stocker Congratulations! That's fine piece of work You will know that you have arrived when money and time are not mutually exclusive "events" in you life!
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Rank: Member Joined: 4/20/2008 Posts: 437
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stocksmaster wrote:Penny-Stocker wrote:To all, like I said in my initial post, almost a year ago...it's never to early to start investing for your retirement! I'm only 29yrs and in about 4 months, I'll be collecting 120K from rent @30K per unit...on top of my 240K net salary (that's 360K)! Looking at putting up 6more units in a 5 years time, working for 5 more years after that....retirement at 40yrs! I'm loving this! Good one........so about Ksh 6M invested for a Ksh 120K monthly return (Ksh 1.44M per year). Thats about a gross return of 24% p.a.....not bad! You giving me ideas. Happy hunting.  @ Penny stocker - very impressive. Two questions: One, what was the cost of the land? Two, isn't it time you changed your handle? Those ain't pennies no more, LoL!
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Rank: Member Joined: 2/27/2011 Posts: 518
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Penny-Stocker wrote:Hello Wazuans, I am starting a project thread for my project in Mamboleo,Kisumu- 4 family (3bed, 2bath). I will be posting costs, challenges, and all that jazz. My budget is 5m... I own the land outright, which is a good thing. the project is simply superb. The photos speak it all. You have given many of us a new lease of life. many guys did believe that it can be done. The wazua family is indebted to you. Congratulations are in order. if possible kindly give the breakdown of the costs, challenges etc as you said you would. In the spirit of wazua... it would be beautiful if more guys came up with threads on projects they are doing and the challenges and lessons they encounter. That way the learning is more practical. Projects could range from houses, businesses or even farming. It is by sharing that we may even learn a thing or two.
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Rank: Member Joined: 12/11/2006 Posts: 14
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Fantastic job penny stocker the stones are beautiful where did you source from? am embarking on a similar project in Otonglo area just waiting for NEMA approval
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Rank: Elder Joined: 11/28/2006 Posts: 1,799
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pyrex wrote:Fantastic job penny stocker the stones are beautiful where did you source from? am embarking on a similar project in Otonglo area just waiting for NEMA approval The stones look like KEDOWA stones..
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