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Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
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TSi wrote:Sorry to hijack your thread @S.Mutaga III, I have a question of my own. A family of 10 have a ka plot around kariokor market where there are many garages but they don't seem to have an idea of how to utilize the property to generate 1M per month. Selling for them is a no no. They also don't have the capital to put up a building. They don't want to lease it as a garage since mechanics pay 100 shillings per day to work there and due to space limitations only 20 mechs can fit which translates to 20X100=2k per day. Your ideas are greatly valued here. Think about getting a financier and construct
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Rank: Member Joined: 3/26/2012 Posts: 830
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Mtublack wrote:AT SM it doesn't matter where he is getting his money what @ popat said still apply,would have made sense to hold on his land and invest income from the real estate in a small scale learn the ropes. meanwhile the land value would be appreciating and he can then Dispose then land at a higher value and inject more capital ones he is sure that its the right business
For now tell him to put the money in real estate doesn't make any sense to dispose an asset if you have no idea what to do with the proceeds He has already invested the proceeds in building flats. He only intends to use less than 10% of the remaining money in a business. I think I will tell him to buy shares and relax. 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: Member Joined: 3/26/2012 Posts: 830
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sparkly wrote:S.Mutaga III wrote:You guys perhaps got me wrong. The guy disposed a piece of land at an insane amount. He has completed several flats with the proceeds to generate for him enough income to support his current lifestyle. His corporate job earns him peanuts and he feels that it is time to call it quits anyway. He figures that since 90% of his networth is already in real estate, and his papers are intact, he can safely venture into enterprenuership to pursue his dream. After all, earning 65k net with such a networth is slavery and stupid. He thinks there is better use of his time now. Please note that the rent from his projects is more than 10 times his net salary and he has no loans. Doesn't add up. He earns 65k net but has flats earning him 650k net? There is a 0% chance that he bought the piece of land and constructed the flats to earn 650k with his salary. I know because I was employed for a while and my net earnings were more than the 65k he is earning. Let him continue doing what he was doing to earn the money to construct flats. He used his inheritance and savings to buy the land.That is what he told me but anyway, I didnt really ask for the information on how he bought the land. Where I come from, questions like those could get you killed. 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: 10/3/2008 Posts: 4,058 Location: Gwitu
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S.Mutaga III wrote:sparkly wrote:S.Mutaga III wrote:You guys perhaps got me wrong. The guy disposed a piece of land at an insane amount. He has completed several flats with the proceeds to generate for him enough income to support his current lifestyle. His corporate job earns him peanuts and he feels that it is time to call it quits anyway. He figures that since 90% of his networth is already in real estate, and his papers are intact, he can safely venture into enterprenuership to pursue his dream. After all, earning 65k net with such a networth is slavery and stupid. He thinks there is better use of his time now. Please note that the rent from his projects is more than 10 times his net salary and he has no loans. Doesn't add up. He earns 65k net but has flats earning him 650k net? There is a 0% chance that he bought the piece of land and constructed the flats to earn 650k with his salary. I know because I was employed for a while and my net earnings were more than the 65k he is earning. Let him continue doing what he was doing to earn the money to construct flats. He used his inheritance and savings to buy the land.That is what he told me but anyway, I didnt really ask for the information on how he bought the land. Where I come from, questions like those could get you killed. He can get you killed for asking questions and he is your friend. How bad can your enemies be?! Truth forever on the scaffold
Wrong forever on the throne
(James Russell Rowell)
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Rank: Member Joined: 1/15/2015 Posts: 681 Location: Kenya
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kaka2za wrote:S.Mutaga III wrote:sparkly wrote:S.Mutaga III wrote:You guys perhaps got me wrong. The guy disposed a piece of land at an insane amount. He has completed several flats with the proceeds to generate for him enough income to support his current lifestyle. His corporate job earns him peanuts and he feels that it is time to call it quits anyway. He figures that since 90% of his networth is already in real estate, and his papers are intact, he can safely venture into enterprenuership to pursue his dream. After all, earning 65k net with such a networth is slavery and stupid. He thinks there is better use of his time now. Please note that the rent from his projects is more than 10 times his net salary and he has no loans. Doesn't add up. He earns 65k net but has flats earning him 650k net? There is a 0% chance that he bought the piece of land and constructed the flats to earn 650k with his salary. I know because I was employed for a while and my net earnings were more than the 65k he is earning. Let him continue doing what he was doing to earn the money to construct flats. He used his inheritance and savings to buy the land.That is what he told me but anyway, I didnt really ask for the information on how he bought the land. Where I come from, questions like those could get you killed. He can get you killed for asking questions and he is your friend. How bad can your enemies be?!  kuweni wapole!
60% Learning, 30% synthesizing, 10% Debating
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Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
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Thitifini wrote:kaka2za wrote:S.Mutaga III wrote:sparkly wrote:S.Mutaga III wrote:You guys perhaps got me wrong. The guy disposed a piece of land at an insane amount. He has completed several flats with the proceeds to generate for him enough income to support his current lifestyle. His corporate job earns him peanuts and he feels that it is time to call it quits anyway. He figures that since 90% of his networth is already in real estate, and his papers are intact, he can safely venture into enterprenuership to pursue his dream. After all, earning 65k net with such a networth is slavery and stupid. He thinks there is better use of his time now. Please note that the rent from his projects is more than 10 times his net salary and he has no loans. Doesn't add up. He earns 65k net but has flats earning him 650k net? There is a 0% chance that he bought the piece of land and constructed the flats to earn 650k with his salary. I know because I was employed for a while and my net earnings were more than the 65k he is earning. Let him continue doing what he was doing to earn the money to construct flats. He used his inheritance and savings to buy the land.That is what he told me but anyway, I didnt really ask for the information on how he bought the land. Where I come from, questions like those could get you killed. He can get you killed for asking questions and he is your friend. How bad can your enemies be?! kuweni wapole!
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Rank: Elder Joined: 12/25/2014 Posts: 2,301 Location: kenya
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600k a month? Go to eqty ask for a loan of 16m .build another flat to give you another 650k.total will be 1.2. Let both houses repay loan in 20 months as he is working earning 65k. After two years boom ,u r a millionaire and loan free
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Rank: Member Joined: 5/31/2009 Posts: 226
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Good mentors here does anyone know of a place i can get a plot to buy and build 1-2bedroomed apartment block in an decent neighbourhood that can fetch 18-25000 rent pm budget4-5m. My opinion a business that can net 1m profit its possible if he can establish a hotel or fast food in town or get a franchise of one of the Major world brands like Macdonalds. java, artcaffee and pizza inn are raking in some serious cash as the Nairobi middle class expands but the investments required are 30-40m. 6m will hardly get near 400k pm.
In a restaurant 40% of sales is normally profit if he can average 100k a day in sales that comes to roughly 2.4m pm assuming 6days operation 900k-1m monthly
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Rank: Elder Joined: 10/3/2008 Posts: 4,058 Location: Gwitu
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premio wrote:Good mentors here does anyone know of a place i can get a plot to buy and build 1-2bedroomed apartment block in an decent neighbourhood that can fetch 18-25000 rent pm budget4-5m. My opinion a business that can net 1m profit its possible if he can establish a hotel or fast food in town or get a franchise of one of the Major world brands like Macdonalds. java, artcaffee and pizza inn are raking in some serious cash as the Nairobi middle class expands but the investments required are 30-40m. 6m will hardly get near 400k pm.
In a restaurant 40% of sales is normally profit if he can average 100k a day in sales that comes to roughly 2.4m pm assuming 6days operation 900k-1m monthly 40% ?! Do you have actual ' experience with such margins? Truth forever on the scaffold
Wrong forever on the throne
(James Russell Rowell)
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Rank: Elder Joined: 12/25/2014 Posts: 2,301 Location: kenya
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kaka2za wrote:premio wrote:Good mentors here does anyone know of a place i can get a plot to buy and build 1-2bedroomed apartment block in an decent neighbourhood that can fetch 18-25000 rent pm budget4-5m. My opinion a business that can net 1m profit its possible if he can establish a hotel or fast food in town or get a franchise of one of the Major world brands like Macdonalds. java, artcaffee and pizza inn are raking in some serious cash as the Nairobi middle class expands but the investments required are 30-40m. 6m will hardly get near 400k pm.
In a restaurant 40% of sales is normally profit if he can average 100k a day in sales that comes to roughly 2.4m pm assuming 6days operation 900k-1m monthly 40% ?! Do you have actual ' experience with such margins? You will get 40% if you have fast food joints located in a good location and grow your own potatoes
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