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Riverside or Madaraka estate rental property!
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Seles83
#21 Posted : Friday, August 31, 2012 2:53:44 AM
Rank: Member


Joined: 11/9/2007
Posts: 288
Location: OZ
Stine wrote:
Check out Imara Gardens Apartments next to Riara school in Imara. They are pretty good apartments 3br house + guest room at 7.4M, they were increasing the amount I don't know how much they are selling for now. Estimated rent is 45k. They also have 2br going for 6. something. They are really worth looking at..


@Stine
Thanks..

Fellas, Anyone who bought into Phase I of Madaraka Housing scheme...their feedback on finishes and rental income?
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Seles83
#22 Posted : Thursday, November 29, 2012 3:42:40 AM
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Joined: 11/9/2007
Posts: 288
Location: OZ
Excited...

Houses ready for occupation from Jan 2013...

Any takers//

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tony stark
#23 Posted : Thursday, November 29, 2012 8:56:43 AM
Rank: Veteran


Joined: 7/8/2008
Posts: 947
Seles83 wrote:
Stine wrote:
Check out Imara Gardens Apartments next to Riara school in Imara. They are pretty good apartments 3br house + guest room at 7.4M, they were increasing the amount I don't know how much they are selling for now. Estimated rent is 45k. They also have 2br going for 6. something. They are really worth looking at..


@Stine
Thanks..

Fellas, Anyone who bought into Phase I of Madaraka Housing scheme...their feedback on finishes and rental income?


Imara is having a housing glut and the rent that stine claims you can get is a big lie. The 3 beds in Imara are going for 30-35 guest.
Unless Stine means future rental yield?
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Seles83
#24 Posted : Thursday, November 28, 2013 3:47:00 PM
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Joined: 11/9/2007
Posts: 288
Location: OZ
Quick update, NHC Madaraka project now complete.

Summary project cost: 2 br Apartment 6.2m, Other Costs-600k
Tenant paying 35k per month..

P.S- I should have bought 2 more units..
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Seles83
#25 Posted : Friday, June 08, 2018 7:19:25 AM
Rank: Member


Joined: 11/9/2007
Posts: 288
Location: OZ
Can't wait to buy into latest government project in Starehe or Mugaga Green.

At last we have a sharp PS for Housing (Kudos)
https://www.businessdail...586282-9ggmuq/index.html
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tony stark
#26 Posted : Friday, June 08, 2018 6:16:12 PM
Rank: Veteran


Joined: 7/8/2008
Posts: 947
[quote=Seles83]Can't wait to buy into latest government project in Starehe or Mugaga Green.

At last we have a sharp PS for Housing (Kudos)
https://www.businessdail...86282-9ggmuq/index.html[/quote]

So what did you get??
Mada or riverside? What is the rental yield of the property??
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Seles83
#27 Posted : Sunday, June 10, 2018 10:16:03 AM
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Joined: 11/9/2007
Posts: 288
Location: OZ
I got 2br Madaraka one eventually came to 6.2m rented for 40k and bought another 2bdr in Kileleshwa for 8.2m rented for 50k..
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kawi254
#28 Posted : Sunday, June 10, 2018 2:34:30 PM
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Joined: 2/20/2015
Posts: 467
Location: Nairobi
Seles83 wrote:
I got 2br Madaraka one eventually came to 6.2m rented for 40k and bought another 2bdr in Kileleshwa for 8.2m rented for 50k..


7.5% p.a @100% occupancy
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Angelica _ann
#29 Posted : Sunday, June 10, 2018 2:58:35 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,908
kawi254 wrote:
Seles83 wrote:
I got 2br Madaraka one eventually came to 6.2m rented for 40k and bought another 2bdr in Kileleshwa for 8.2m rented for 50k..


7.5% p.a @100% occupancy


Good returns at comfortable risk levels!!!
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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obiero
#30 Posted : Sunday, June 10, 2018 3:20:17 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,516
Location: nairobi
Angelica _ann wrote:
kawi254 wrote:
Seles83 wrote:
I got 2br Madaraka one eventually came to 6.2m rented for 40k and bought another 2bdr in Kileleshwa for 8.2m rented for 50k..


7.5% p.a @100% occupancy


Good returns at comfortable risk levels!!!

Real estate is king!

HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Seles83
#31 Posted : Sunday, June 10, 2018 3:33:38 PM
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Joined: 11/9/2007
Posts: 288
Location: OZ
If indeed I can manage to increase my rental income to 250k over the next 5 years with 3 more property purchases, then I can comfortably acquire a new house every 3 years cash.

Another part that I like the most is only 10% tax on rental income is the best source of income to have next to dividends.

N.B. Mortgage repayments is a killer, I am paying off my mortgage in next 2 years hopefully.

Best advice ever, never never ever take a mortgage, if you have please pay it off with everything penny you got.

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Seles83
#32 Posted : Sunday, June 10, 2018 3:35:10 PM
Rank: Member


Joined: 11/9/2007
Posts: 288
Location: OZ
obiero wrote:
Angelica _ann wrote:
kawi254 wrote:
Seles83 wrote:
I got 2br Madaraka one eventually came to 6.2m rented for 40k and bought another 2bdr in Kileleshwa for 8.2m rented for 50k..


7.5% p.a @100% occupancy


Good returns at comfortable risk levels!!!

Real estate is king!



Madaraka is a sweet spot for tenants, and Kileleshwa one is also okay...so far no issues with vacancy..
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Cv254K
#33 Posted : Sunday, June 10, 2018 4:06:32 PM
Rank: New-farer


Joined: 9/2/2017
Posts: 31
Angelica _ann wrote:
kawi254 wrote:
Seles83 wrote:
I got 2br Madaraka one eventually came to 6.2m rented for 40k and bought another 2bdr in Kileleshwa for 8.2m rented for 50k..


7.5% p.a @100% occupancy


Good returns at comfortable risk levels!!!


Aren't these returns below current risk-free returns?
https://www.centralbank....0DATED%2030-04-2018.pdf

https://www.centralbank....0DATED%2025-06-2018.pdf
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Seles83
#34 Posted : Sunday, June 10, 2018 4:10:27 PM
Rank: Member


Joined: 11/9/2007
Posts: 288
Location: OZ
Cv254K wrote:
Angelica _ann wrote:
kawi254 wrote:
Seles83 wrote:
I got 2br Madaraka one eventually came to 6.2m rented for 40k and bought another 2bdr in Kileleshwa for 8.2m rented for 50k..


7.5% p.a @100% occupancy


Good returns at comfortable risk levels!!!


Aren't these returns below current risk-free returns?
https://www.centralbank....0DATED%2030-04-2018.pdf

https://www.centralbank....0DATED%2025-06-2018.pdf



Inflation is trending down for Kenya due to rains, bad time buy into 20yr/15yr bonds...I would be attracted at high peak inflation times mostly dry seasons..
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Cv254K
#35 Posted : Sunday, June 10, 2018 4:24:59 PM
Rank: New-farer


Joined: 9/2/2017
Posts: 31
Seles83 wrote:
Cv254K wrote:
Angelica _ann wrote:
kawi254 wrote:
Seles83 wrote:
I got 2br Madaraka one eventually came to 6.2m rented for 40k and bought another 2bdr in Kileleshwa for 8.2m rented for 50k..


7.5% p.a @100% occupancy


Good returns at comfortable risk levels!!!


Aren't these returns below current risk-free returns?
https://www.centralbank....0DATED%2030-04-2018.pdf

https://www.centralbank....0DATED%2025-06-2018.pdf



Inflation is trending down for Kenya due to rains, bad time buy into 20yr/15yr bonds...I would be attracted at high peak inflation times mostly dry seasons..


Okay. But even for 5-year were higher during the March issue. Not sure how it's trading now:
https://www.centralbank....-20%20DTD%2026-3-18.pdf

What's your minimum rent review period? Vacancy rates in the area?
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muganda
#36 Posted : Sunday, June 10, 2018 4:49:04 PM
Rank: Elder


Joined: 9/15/2006
Posts: 3,905
Cv254K wrote:
Seles83 wrote:
Cv254K wrote:
Angelica _ann wrote:
kawi254 wrote:
Seles83 wrote:
I got 2br Madaraka one eventually came to 6.2m rented for 40k and bought another 2bdr in Kileleshwa for 8.2m rented for 50k..


7.5% p.a @100% occupancy


Good returns at comfortable risk levels!!!


Aren't these returns below current risk-free returns?
https://www.centralbank....0DATED%2030-04-2018.pdf

https://www.centralbank....0DATED%2025-06-2018.pdf



Inflation is trending down for Kenya due to rains, bad time buy into 20yr/15yr bonds...I would be attracted at high peak inflation times mostly dry seasons..


Okay. But even for 5-year were higher during the March issue. Not sure how it's trading now:
https://www.centralbank....-20%20DTD%2026-3-18.pdf

What's your minimum rent review period? Vacancy rates in the area?

Don't forget treasury paper does not appreciate in value.
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Cv254K
#37 Posted : Sunday, June 10, 2018 5:24:15 PM
Rank: New-farer


Joined: 9/2/2017
Posts: 31
muganda wrote:
Cv254K wrote:
Seles83 wrote:
Cv254K wrote:
Angelica _ann wrote:
kawi254 wrote:
Seles83 wrote:
I got 2br Madaraka one eventually came to 6.2m rented for 40k and bought another 2bdr in Kileleshwa for 8.2m rented for 50k..


7.5% p.a @100% occupancy


Good returns at comfortable risk levels!!!


Aren't these returns below current risk-free returns?
https://www.centralbank....0DATED%2030-04-2018.pdf

https://www.centralbank....0DATED%2025-06-2018.pdf



Inflation is trending down for Kenya due to rains, bad time buy into 20yr/15yr bonds...I would be attracted at high peak inflation times mostly dry seasons..


Okay. But even for 5-year were higher during the March issue. Not sure how it's trading now:
https://www.centralbank....-20%20DTD%2026-3-18.pdf

What's your minimum rent review period? Vacancy rates in the area?

Don't forget treasury paper does not appreciate in value.


I think rental property also depreciates over time (save for underlying land). Wouldn't you need to refurbish after every few years to keep the rental income the same compared to newer properties? As it grows old, will it remain with the same occupancy rates as the new ones? Only guys I have seen making abnormal returns on rentals consistently are Slumlords.

My point: as long as the gov't continues its debt binge, the risk free rates will remain high enough to make most other alternatives unattractive unless for cash flow or sentimental reasons.
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