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House on sale with a lease-back option
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FRM2011
#1 Posted : Friday, September 19, 2014 7:58:23 AM
Rank: Elder

Joined: 11/5/2010
Posts: 2,459
A 3-bedroomed master ensuite bungalow 150m from magadi road in ongata rongai. A walking distance from Tuskys. Has a perimeter wall, cabro-paved driveway and parking, a barbeque garden with mature trees, in-built wardrobes and kitchen cabinets.

Asking price kes.7.5m negotiable.

The owner loves the place and would wish to continue living there as a tenant. He is preferring to sell to an investor from whom he can lease it back. However, he can still move out if he gets a good deal.

To sweeten the deal, the new buyer can deduct one year's rent from the purchase price. Rent in the neighbourhood is kes.35k per month.

Can share more details on e-mail with anyone who might be interested.
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Grip
#2 Posted : Friday, September 19, 2014 12:36:12 PM
Rank: Member

Joined: 9/23/2007
Posts: 12
Send me your contact details at johnmburu@my.com
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sparkly
#3 Posted : Friday, September 19, 2014 1:01:46 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Owner sounds very attached. Will he and mama watoto agree to be evicted if they default ama it will be drama.
Life is short. Live passionately.
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FRM2011
#4 Posted : Friday, September 19, 2014 2:06:07 PM
Rank: Elder

Joined: 11/5/2010
Posts: 2,459
Grip wrote:
Send me your contact details at johnmburu@my.com


@grip, check your email inbox.
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FRM2011
#5 Posted : Friday, September 19, 2014 2:10:31 PM
Rank: Elder

Joined: 11/5/2010
Posts: 2,459
sparkly wrote:
Owner sounds very attached. Will he and mama watoto agree to be evicted if they default ama it will be drama.


@sparkly, he is a very organised chap. He has been building another house elsewhere and I suspect the chums have ran out.
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Pablo
#6 Posted : Monday, September 22, 2014 5:42:37 PM
Rank: Member

Joined: 3/17/2008
Posts: 567
Location: Nairobi
Thats a horible deal.

Someone invests, 7.5M and gets 35k rent. An ROI is 5%, Aiiii

If you get a 12% morgage to buy that house payable in 15 years the repayment is almost 90k per month.
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Gordon Gekko
#7 Posted : Monday, September 22, 2014 7:34:10 PM
Rank: Elder

Joined: 5/27/2008
Posts: 3,760
Pablo wrote:
Thats a horible deal.

Someone invests, 7.5M and gets 35k rent. An ROI is 5%, Aiiii

If you get a 12% morgage to buy that house payable in 15 years the repayment is almost 90k per month.

Show me any real estate worth 7.5m that can fetch a rent of 35k.
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B.Timer
#8 Posted : Tuesday, September 23, 2014 11:12:32 AM
Rank: Veteran

Joined: 5/31/2008
Posts: 1,076
Gordon Gekko wrote:
Pablo wrote:
Thats a horible deal.

Someone invests, 7.5M and gets 35k rent. An ROI is 5%, Aiiii

If you get a 12% morgage to buy that house payable in 15 years the repayment is almost 90k per month.

Show me any real estate worth 7.5m that can fetch a rent of 35k.


All other factors constant, this looks to me as a good deal.
Dunia ni msongamano..
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Bigchick
#9 Posted : Tuesday, September 23, 2014 9:07:03 PM
Rank: Elder

Joined: 2/8/2013
Posts: 4,068
Location: At Large.
B.Timer wrote:
Gordon Gekko wrote:
Pablo wrote:
Thats a horible deal.

Someone invests, 7.5M and gets 35k rent. An ROI is 5%, Aiiii

If you get a 12% morgage to buy that house payable in 15 years the repayment is almost 90k per month.

Show me any real estate worth 7.5m that can fetch a rent of 35k.


All other factors constant, this looks to me as a good deal.



At the risk of hijacking this thread, please comment on a one bedroomed apartment within Kasarani area going for 3.2M and has an income of 15000.

Do you think this is a good investment.
Love is beautiful and so are those who share it.With Love, Marriage is an amazing event in ones life time, the foundation of joy, happiness and success.
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FRM2011
#10 Posted : Wednesday, September 24, 2014 8:20:02 AM
Rank: Elder

Joined: 11/5/2010
Posts: 2,459
Pole wazuans. I forgot to close the thread.

The house was sold through a broker @6.8m paid as follows.

4m cash, 2m exchanged with a plot and 2 years rent paid in advance.

Funny thing about broker transactions. Since he was to sell the house and had also been retained to sell the plot by the buyer, he walked away with a cool 350k.

Poor Frm2011, I thought I could sell the house through wazua. Shock on me.
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