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Is Taking a Mortgage the WORST Decision Ever??
Rank: Member Joined: 1/24/2013 Posts: 325
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ChumsQuest wrote:MaichBlack wrote:whiteowl wrote:MaichBlack wrote:KenyanEconomist wrote:But it is a fallacy to suggest that the Nairobi market generates out-sized returns just because of the few examples you have given . You are making a hasty generalization to only give a few examples (and with the advantage of hindsight). You call this hindsight???When that thread was started [2 years ago!] Housing Finance was at 15/=. two weeks later, there was a fellow who was overjoyed when it hit 16.50/= [see post #11]. Two years later we are at 51/=!!! Returns: (51 - 15)/15 * 100 = 240% 240% returns in two years!!! No hindsight!!! It was discussed in broad daylight!! Anyone with eyes and ears.... As for the Thomases... @Maich I own some britam which is at the center of the current musical chairs.got in @9 so after about 1 year you can see why I'm all smiles. Let these guys continue doubting n sitting on the sidelines watching us make REAL money.And btw this is my 4th stock to hit over 50% in 1 year. Congrats!!! And these same fellows will be calling you an illuminati in 10 years wondering where you got all the money and yet you used to work in the same company and were probably earning a higher salary than you!! @Whiteowl, how much is Britam trading for now? I need these kind of investment stories so I feel strong enough to take the plunge...@Maich, I will be talking to you soonest coz I see you know what it is when it comes to stocks... Wolololo, I just saw it, nearly 5-fold??. So if you went in 50k you come out with a 1/4 milli...enyewe!!! 85% sold...Wapi @Maich? @Whiteowl, what's the next muelekeo? Safcom? Long-term?
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Rank: Elder Joined: 7/22/2009 Posts: 7,455
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@ChumsQuest - You are in the right forum. We learn together. There are some heavy hitters here! A good number! One of the ones I respect most is @stocksmaster. You should search his threads. There are several others - I cannot list all of them. A couple of months in wazua and you can tell who they are. To wazuans - Thank you for making this forum what it is. It is truly a wealth of information for those willing to learn. 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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Rank: Member Joined: 1/24/2013 Posts: 325
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MaichBlack wrote:@ChumsQuest - You are in the right forum. We learn together. There are some heavy hitters here! A good number! One of the ones I respect most is @stocksmaster. You should search his threads. There are several others - I cannot list all of them. A couple of months in wazua and you can tell who they are.
To wazuans - Thank you for making this forum what it is. It is truly a wealth of information for those willing to learn. Thanks @Maich...I guess I had the wrong info on Britam, i see the real deal. Will check ou for these threads. I've had a knack for stocks but i've been too timid, until I joined Wazua..  
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Rank: User Joined: 1/20/2014 Posts: 3,528
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In the same breath stocks have not been smooth sailing all the way. There have been bad stories ask KQ guys! I can name many. Some of us have seen HFCK move from 20 to 60 and back to 15. So the feel good stories should be balanced! Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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ChumsQuest wrote:ChumsQuest wrote:MaichBlack wrote:whiteowl wrote:MaichBlack wrote:KenyanEconomist wrote:But it is a fallacy to suggest that the Nairobi market generates out-sized returns just because of the few examples you have given . You are making a hasty generalization to only give a few examples (and with the advantage of hindsight). You call this hindsight???When that thread was started [2 years ago!] Housing Finance was at 15/=. two weeks later, there was a fellow who was overjoyed when it hit 16.50/= [see post #11]. Two years later we are at 51/=!!! Returns: (51 - 15)/15 * 100 = 240% 240% returns in two years!!! No hindsight!!! It was discussed in broad daylight!! Anyone with eyes and ears.... As for the Thomases... @Maich I own some britam which is at the center of the current musical chairs.got in @9 so after about 1 year you can see why I'm all smiles. Let these guys continue doubting n sitting on the sidelines watching us make REAL money.And btw this is my 4th stock to hit over 50% in 1 year. Congrats!!! And these same fellows will be calling you an illuminati in 10 years wondering where you got all the money and yet you used to work in the same company and were probably earning a higher salary than you!! @Whiteowl, how much is Britam trading for now? I need these kind of investment stories so I feel strong enough to take the plunge...@Maich, I will be talking to you soonest coz I see you know what it is when it comes to stocks... Wolololo, I just saw it, nearly 5-fold??. So if you went in 50k you come out with a 1/4 milli...enyewe!!! 85% sold...Wapi @Maich? @Whiteowl, what's the next muelekeo? Safcom? Long-term? Currently the only discounted stocks in the long-term I can see are KPLC & KK. Widen your research n maybe you can discover some more.
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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MaichBlack wrote:whiteowl wrote:MaichBlack wrote:KenyanEconomist wrote:But it is a fallacy to suggest that the Nairobi market generates out-sized returns just because of the few examples you have given . You are making a hasty generalization to only give a few examples (and with the advantage of hindsight). You call this hindsight???When that thread was started [2 years ago!] Housing Finance was at 15/=. two weeks later, there was a fellow who was overjoyed when it hit 16.50/= [see post #11]. Two years later we are at 51/=!!! Returns: (51 - 15)/15 * 100 = 240% 240% returns in two years!!! No hindsight!!! It was discussed in broad daylight!! Anyone with eyes and ears.... As for the Thomases... @Maich I own some britam which is at the center of the current musical chairs.got in @9 so after about 1 year you can see why I'm all smiles. Let these guys continue doubting n sitting on the sidelines watching us make REAL money.And btw this is my 4th stock to hit over 50% in 1 year. Congrats!!! And these same fellows will be calling you an illuminati in 10 years wondering where you got all the money and yet they used to work in the same company and were probably earning a higher salary than you!! I think even the illuminati invest time, money n other resources to achieve their goals. Running the world from the shadows is no mean feat. 
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Rank: Member Joined: 1/24/2013 Posts: 325
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whiteowl wrote:ChumsQuest wrote:ChumsQuest wrote:MaichBlack wrote:whiteowl wrote:MaichBlack wrote:KenyanEconomist wrote:But it is a fallacy to suggest that the Nairobi market generates out-sized returns just because of the few examples you have given . You are making a hasty generalization to only give a few examples (and with the advantage of hindsight). You call this hindsight???When that thread was started [2 years ago!] Housing Finance was at 15/=. two weeks later, there was a fellow who was overjoyed when it hit 16.50/= [see post #11]. Two years later we are at 51/=!!! Returns: (51 - 15)/15 * 100 = 240% 240% returns in two years!!! No hindsight!!! It was discussed in broad daylight!! Anyone with eyes and ears.... As for the Thomases... @Maich I own some britam which is at the center of the current musical chairs.got in @9 so after about 1 year you can see why I'm all smiles. Let these guys continue doubting n sitting on the sidelines watching us make REAL money.And btw this is my 4th stock to hit over 50% in 1 year. Congrats!!! And these same fellows will be calling you an illuminati in 10 years wondering where you got all the money and yet you used to work in the same company and were probably earning a higher salary than you!! @Whiteowl, how much is Britam trading for now? I need these kind of investment stories so I feel strong enough to take the plunge...@Maich, I will be talking to you soonest coz I see you know what it is when it comes to stocks... Wolololo, I just saw it, nearly 5-fold??. So if you went in 50k you come out with a 1/4 milli...enyewe!!! 85% sold...Wapi @Maich? @Whiteowl, what's the next muelekeo? Safcom? Long-term? Currently the only discounted stocks in the long-term I can see are KPLC & KK. Widen your research n maybe you can discover some more.
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Rank: Member Joined: 1/2/2008 Posts: 268 Location: Nairobi
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whiteowl wrote:MaichBlack wrote:KenyanEconomist wrote:But it is a fallacy to suggest that the Nairobi market generates out-sized returns just because of the few examples you have given . You are making a hasty generalization to only give a few examples (and with the advantage of hindsight). You call this hindsight???When that thread was started [2 years ago!] Housing Finance was at 15/=. two weeks later, there was a fellow who was overjoyed when it hit 16.50/= [see post #11]. Two years later we are at 51/=!!! Returns: (51 - 15)/15 * 100 = 240% 240% returns in two years!!! No hindsight!!! It was discussed in broad daylight!! Anyone with eyes and ears.... As for the Thomases... @Maich I own some britam which is at the center of the current musical chairs.got in @9 so after about 1 year you can see why I'm all smiles. Let these guys continue doubting n sitting on the sidelines watching us make REAL money.And btw this is my 4th stock to hit over 50% in 1 year. Now this mortgage topic has been hijacked by stock traders...anybody who has been paying mortgage consistently for more than 5 years, tell us your experiences
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Rank: Elder Joined: 7/22/2009 Posts: 7,455
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Welcome to the world of mortgages!!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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Rank: Elder Joined: 7/22/2009 Posts: 7,455
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Is the bubble finally bursting or it's a false alarm?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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Rank: Member Joined: 1/2/2008 Posts: 268 Location: Nairobi
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Now if this can happen to a prominent Kenyan, what of a common mwananchi who cannot afford to go to court?
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Rank: Member Joined: 1/2/2008 Posts: 268 Location: Nairobi
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This is partly a false alarm.Though there could b some truth in the story. Most of these houses are overpriced and there will be very few buyers and leasers.
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Rank: Member Joined: 5/31/2009 Posts: 226
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I also need advice btn Mortgage and Rent. I Have an already approved mortgage for 2 bedroom house Olonyori Estate 1km from msa rd on fully paved cabro rd beautifull neighbourhood with safaricom blue bells, greatwall phase 123 all doing very well at 6m Olonyori is the best priced here at 4.25m am raising 2m plus charges and stamp duty. I also have a 50x100plot in a prime area 2km off Yukos Kitengela inside a gated community where there are 17 other plots all sold now with a perimeter wall all around and ready borehall one gate only plots on either side of the internal road area flat and access rd all weather plans to make it cabro under way by developers just 700m away with 4bedroom maissonettes hitting 10m. Price is 1.3m already paid 10%. My idea was to rent at Olonyori 25k pm for 2 years by then the gated community place would be ready for settling and can start building with the money that i would otherwise use to raise mortgate deposit. I can only manage one option if i take the mortgage i forget the plot and vice versa. I work around JKIA so distance not an issue just a i need advice with reasons am in love with both places. Completion of the green terminal at jkia 2017 might double prices of apartments here on the hand that place in kitengela looks hot torn unable to dcd help needed family 1 kid no more than 2
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Rank: Veteran Joined: 7/5/2010 Posts: 2,061 Location: Nairobi
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icecube wrote:This is partly a false alarm.Though there could b some truth in the story. Most of these houses are overpriced and there will be very few buyers and leasers. The Kenya housing market has never made any sense to me. ...you think a correction is long overdue, but it never materializes. Guys develop and price the units at 300% of unit cost and stubbornly stick to that mark, even when inventory is not moving. In other places, banks would be shaking in their boots, staring at defaults and writedowns, and prices would tumble, to keep things in the black. Kenya? Loans get serviced, defaults are few while sales are low to medium. Baffling. I think there is a lot of racketeering and laundered money getting cleaned through real estate and hence the unreal, unbalanced situation in this town.
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Rank: Elder Joined: 7/22/2009 Posts: 7,455
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quicksand wrote:icecube wrote:This is partly a false alarm.Though there could b some truth in the story. Most of these houses are overpriced and there will be very few buyers and leasers. The Kenya housing market has never made any sense to me. ...you think a correction is long overdue, but it never materializes. Guys develop and price the units at 300% of unit cost and stubbornly stick to that mark, even when inventory is not moving. In other places, banks would be shaking in their boots, staring at defaults and writedowns, and prices would tumble, to keep things in the black. Kenya? Loans get serviced, defaults are few while sales are low to medium. Baffling. I think there is a lot of racketeering and laundered money getting cleaned through real estate and hence the unreal, unbalanced situation in this town. This is a huge problem in Kenya and the authorities never seem to care! From drug money to Al shabaab/piracy money, poaching money etc. This cause an imbalance in the economy leading to inflationary forces evidenced by ridiculous prices. Clamp down on dirty money and some of these problems will be sorted. Government should also get involved in housing directly or indirectly on a large scale and the prices would be tamed! 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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Rank: Member Joined: 9/20/2007 Posts: 252
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premio wrote:I also need advice btn Mortgage and Rent. I Have an already approved mortgage for 2 bedroom house Olonyori Estate 1km from msa rd on fully paved cabro rd beautifull neighbourhood with safaricom blue bells, greatwall phase 123 all doing very well at 6m Olonyori is the best priced here at 4.25m am raising 2m plus charges and stamp duty. I also have a 50x100plot in a prime area 2km off Yukos Kitengela inside a gated community where there are 17 other plots all sold now with a perimeter wall all around and ready borehall one gate only plots on either side of the internal road area flat and access rd all weather plans to make it cabro under way by developers just 700m away with 4bedroom maissonettes hitting 10m. Price is 1.3m already paid 10%. My idea was to rent at Olonyori 25k pm for 2 years by then the gated community place would be ready for settling and can start building with the money that i would otherwise use to raise mortgate deposit. I can only manage one option if i take the mortgage i forget the plot and vice versa. I work around JKIA so distance not an issue just a i need advice with reasons am in love with both places. Completion of the green terminal at jkia 2017 might double prices of apartments here on the hand that place in kitengela looks hot torn unable to dcd help needed family 1 kid no more than 2 hi @Premio, sounds like we are going to be neighbors at Olonyori! I like the development, its less congested compared to Greatwall which are too squeezed. Hoping to get possession of my unit in August. However my plan is to rent out the unit for the time being. Cheerz
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Rank: Member Joined: 6/26/2008 Posts: 384
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I want to hear from those who keep saying they have/will 'accelerate' payments. How did/have you do(ne) it? Especially considering you have everyday manenos such as food/clothing, school fees, funerals/wedding mchangos, hospital bills, rent, etc?
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Rank: Member Joined: 1/2/2008 Posts: 268 Location: Nairobi
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xtina wrote:I want to hear from those who keep saying they have/will 'accelerate' payments. How did/have you do(ne) it? Especially considering you have everyday manenos such as food/clothing, school fees, funerals/wedding mchangos, hospital bills, rent, etc? Considering that paying mortgage strains most incomes, I believe accelerating payments can be achieved mainly from a windfall or a big bonus from wherever...rarely from regular income, unless there is a noticeable increment in monthly earnings.
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Rank: Elder Joined: 7/22/2009 Posts: 7,455
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icecube wrote:xtina wrote:I want to hear from those who keep saying they have/will 'accelerate' payments. How did/have you do(ne) it? Especially considering you have everyday manenos such as food/clothing, school fees, funerals/wedding mchangos, hospital bills, rent, etc? Considering that paying mortgage strains most incomes, I believe accelerating payments can be achieved mainly from a windfall or a big bonus from wherever...rarely from regular income, unless there is a noticeable increment in monthly earnings. 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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Rank: Member Joined: 2/27/2011 Posts: 518
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mungaits wrote:premio wrote:I also need advice btn Mortgage and Rent. I Have an already approved mortgage for 2 bedroom house Olonyori Estate 1km from msa rd on fully paved cabro rd beautifull neighbourhood with safaricom blue bells, greatwall phase 123 all doing very well at 6m Olonyori is the best priced here at 4.25m am raising 2m plus charges and stamp duty. I also have a 50x100plot in a prime area 2km off Yukos Kitengela inside a gated community where there are 17 other plots all sold now with a perimeter wall all around and ready borehall one gate only plots on either side of the internal road area flat and access rd all weather plans to make it cabro under way by developers just 700m away with 4bedroom maissonettes hitting 10m. Price is 1.3m already paid 10%. My idea was to rent at Olonyori 25k pm for 2 years by then the gated community place would be ready for settling and can start building with the money that i would otherwise use to raise mortgate deposit. I can only manage one option if i take the mortgage i forget the plot and vice versa. I work around JKIA so distance not an issue just a i need advice with reasons am in love with both places. Completion of the green terminal at jkia 2017 might double prices of apartments here on the hand that place in kitengela looks hot torn unable to dcd help needed family 1 kid no more than 2 hi @Premio, sounds like we are going to be neighbors at Olonyori! I like the development, its less congested compared to Greatwall which are too squeezed. Hoping to get possession of my unit in August. However my plan is to rent out the unit for the time being. Cheerz carry enough mosquito nets. Hiyo syokimau dam bwana!
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