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Africa red hot real estate leads world. Kenya #4
Rank: Elder Joined: 1/8/2018 Posts: 2,211 Location: DC (Dustbowl County)
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maka wrote:Ummh you really are pushing this property agenda... Do you realise some people probably never ever want to own land or. a house.... @maka, Of course. That is their right and nobody can take it away from them!
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Rank: Elder Joined: 6/23/2009 Posts: 13,516 Location: nairobi
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MugundaMan wrote:maka wrote:Ummh you really are pushing this property agenda... Do you realise some people probably never ever want to own land or. a house.... @maka, Of course. That is their right and nobody can take it away from them! But it's a sad choice.. Of what use would one be to his/her generations if they didn't at least provide one family house of whatever size HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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obiero wrote:MugundaMan wrote:maka wrote:Ummh you really are pushing this property agenda... Do you realise some people probably never ever want to own land or. a house.... @maka, Of course. That is their right and nobody can take it away from them! But it's a sad choice.. Of what use would one be to his/her generations if they didn't at least provide one family house of whatever size On another post you said KQ shares are perfect legacy Life is short. Live passionately.
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Rank: Elder Joined: 6/23/2009 Posts: 13,516 Location: nairobi
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sparkly wrote:obiero wrote:MugundaMan wrote:maka wrote:Ummh you really are pushing this property agenda... Do you realise some people probably never ever want to own land or. a house.... @maka, Of course. That is their right and nobody can take it away from them! But it's a sad choice.. Of what use would one be to his/her generations if they didn't at least provide one family house of whatever size On another post you said KQ shares are perfect legacy Everyone here including you, knows that my portfolios in stocks is less than 10% of my overal net worth HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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obiero wrote:MugundaMan wrote:maka wrote:Ummh you really are pushing this property agenda... Do you realise some people probably never ever want to own land or. a house.... @maka, Of course. That is their right and nobody can take it away from them! But it's a sad choice.. Of what use would one be to his/her generations if they didn't at least provide one family house of whatever size Let's say I have built up a portfolio of circa 10m in fixed income over the past 3-5 years... With an average return of 10pa net... Plus an average maturity period of 20 years... Comes to around 92k pm... Will it be wrong if I rent all through my life... https://www.google.com/a...ans-to-buy-a-home-2016-9possunt quia posse videntur
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Rank: Elder Joined: 1/8/2018 Posts: 2,211 Location: DC (Dustbowl County)
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maka wrote:Let's say I have built up a portfolio of circa 10m in fixed income over the past 3-5 years... With an average return of 10pa net... Plus an average maturity period of 20 years... Comes to around 92k pm... Will it be wrong if I rent all through my life... https://www.google.com/a...ns-to-buy-a-home-2016-9 @Maka, As we said, that is your right and your choice! The beauty of Kenya is that we are a capitalist (pseudo-?) democracy! Kila mtu na stylo yage. Let's forget about returns and the financial aspects for a minute. From my personal perspective, the joys of homeownership are something that are worth pursuing as an end in itself. I remember the first home I ever bought way back in 2003. It was small, in bad shape and nothing fancy but had a very large garden in the back with nothing but bush! While other buyers overlooked it, I saw lots of potential, so I bought it cash. Some friends thought I was crazy. The day I got the keys to the front door is a day I will never forget. Almost immediately I began the process of restoring it to livable condition. I was renting an apartment at the time and enjoyed driving to the house after work and on weekends and doing a lot of the work myself. I even cleared the bush in the back by hand! Within a couple of months the house was in great shape. The lawns were green and well trimmed, the interior of the house was well painted with nice wood floors and a very cozy feel to it. Shortly after to completely escape rent forever, I moved in! At that point in time I was hooked on real estate! I lived in that small house for many years and that sense of satisfaction in home ownership never faded a way for a single second. Especially after all that sweat equity/elbow grease I put into it. And it saved me a boatload of money (in not having to pay rent) that was beneficial in a crazy way in doing other things. In fact sometimes I regret ever disposing of it. I long moved away from the city that house is in but it, and the heady memories I get from when I lived there will forever remain etched in my heart. I remember the days I would go park the car outside while it was under renovation, supervising the fundis as I would listen to music in my jalopy while reading books on real state investment. Meanwhile all my buddies were busy getting wasted dancing at the bars and clubs getting dead drunk and talking much of nothing while thinking I was a weirdo. They seemed unaware that time is life's most precious commodity and that youth does not last forever! Many years on, as far I know, they are still there stuck hapo hapo at those bars, lounges and clubs talking much of nothing and renting the same same types of apartments they were renting way back in 2003. Bottom line everyone has their passion, talent and investment style. Speaking for nobody but myself, nothing beats the joys of real estate as a way to rapidly build capital and enjoy yourself while at it!
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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MugundaMan wrote:maka wrote:Let's say I have built up a portfolio of circa 10m in fixed income over the past 3-5 years... With an average return of 10pa net... Plus an average maturity period of 20 years... Comes to around 92k pm... Will it be wrong if I rent all through my life... https://www.google.com/a...ns-to-buy-a-home-2016-9 @Maka, As we said, that is your right and your choice! The beauty of Kenya is that we are a capitalist (pseudo-?) democracy! Kila mtu na stylo yage. Let's forget about returns and the financial aspects for a minute. From my personal perspective, the joys of homeownership are something that are worth pursuing as an end in itself. I remember the first home I ever bought way back in 2003. It was small, in bad shape and nothing fancy but had a very large garden in the back with nothing but bush! While other buyers overlooked it, I saw lots of potential, so I bought it cash. Some friends thought I was crazy. The day I got the keys to the front door is a day I will never forget. Almost immediately I began the process of restoring it to livable condition. I was renting an apartment at the time and enjoyed driving to the house after work and on weekends and doing a lot of the work myself. I even cleared the bush in the back by hand! Within a couple of months the house was in great shape. The lawns were green and well trimmed, the interior of the house was well painted with nice wood floors and a very cozy feel to it. Shortly after to completely escape rent forever, I moved in! At that point in time I was hooked on real estate! I lived in that small house for many years and that sense of satisfaction in home ownership never faded a way for a single second. Especially after all that sweat equity/elbow grease I put into it. And it saved me a boatload of money (in not having to pay rent) that was beneficial in a crazy way in doing other things. In fact sometimes I regret ever disposing of it. I long moved away from the city that house is in but it, and the heady memories I get from when I lived there will forever remain etched in my heart. I remember the days I would go park the car outside while it was under renovation, supervising the fundis as I would listen to music in my jalopy while reading books on real state investment. Meanwhile all my buddies were busy getting wasted dancing at the bars and clubs getting dead drunk and talking much of nothing while thinking I was a weirdo. They seemed unaware that time is life's most precious commodity and that youth does not last forever! Many years on, as far I know, they are still there stuck hapo hapo at those bars, lounges and clubs talking much of nothing and renting the same same types of apartments they were renting way back in 2003. Bottom line everyone has their passion, talent and investment style. Speaking for nobody but myself, nothing beats the joys of real estate as a way to rapidly build capital and enjoy yourself while at it! @Mugundaman, a good narrative and inspiring for homeowners. Personally, I prefer to build a passive income stream first before venturing into home ownership. Life is short. Live passionately.
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Rank: Veteran Joined: 12/8/2009 Posts: 975 Location: Nairobi
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sparkly wrote:MugundaMan wrote:maka wrote:Let's say I have built up a portfolio of circa 10m in fixed income over the past 3-5 years... With an average return of 10pa net... Plus an average maturity period of 20 years... Comes to around 92k pm... Will it be wrong if I rent all through my life... https://www.google.com/a...ns-to-buy-a-home-2016-9 @Maka, As we said, that is your right and your choice! The beauty of Kenya is that we are a capitalist (pseudo-?) democracy! Kila mtu na stylo yage. Let's forget about returns and the financial aspects for a minute. From my personal perspective, the joys of homeownership are something that are worth pursuing as an end in itself. I remember the first home I ever bought way back in 2003. It was small, in bad shape and nothing fancy but had a very large garden in the back with nothing but bush! While other buyers overlooked it, I saw lots of potential, so I bought it cash. Some friends thought I was crazy. The day I got the keys to the front door is a day I will never forget. Almost immediately I began the process of restoring it to livable condition. I was renting an apartment at the time and enjoyed driving to the house after work and on weekends and doing a lot of the work myself. I even cleared the bush in the back by hand! Within a couple of months the house was in great shape. The lawns were green and well trimmed, the interior of the house was well painted with nice wood floors and a very cozy feel to it. Shortly after to completely escape rent forever, I moved in! At that point in time I was hooked on real estate! I lived in that small house for many years and that sense of satisfaction in home ownership never faded a way for a single second. Especially after all that sweat equity/elbow grease I put into it. And it saved me a boatload of money (in not having to pay rent) that was beneficial in a crazy way in doing other things. In fact sometimes I regret ever disposing of it. I long moved away from the city that house is in but it, and the heady memories I get from when I lived there will forever remain etched in my heart. I remember the days I would go park the car outside while it was under renovation, supervising the fundis as I would listen to music in my jalopy while reading books on real state investment. Meanwhile all my buddies were busy getting wasted dancing at the bars and clubs getting dead drunk and talking much of nothing while thinking I was a weirdo. They seemed unaware that time is life's most precious commodity and that youth does not last forever! Many years on, as far I know, they are still there stuck hapo hapo at those bars, lounges and clubs talking much of nothing and renting the same same types of apartments they were renting way back in 2003. Bottom line everyone has their passion, talent and investment style. Speaking for nobody but myself, nothing beats the joys of real estate as a way to rapidly build capital and enjoy yourself while at it! @Mugundaman, a good narrative and inspiring for homeowners. Personally, I prefer to build a passive income stream first before venturing into home ownership. @Mugundaman that is quite an inspiration for the new generation! @sparkly wouldnt real estate (i am thinking some flats/rentals) be considered passive income? You will know that you have arrived when money and time are not mutually exclusive "events" in you life!
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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@maka the problem with fixed income is inflation...
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Rank: Elder Joined: 2/16/2007 Posts: 2,114
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@maka,out of the 97k income how much would be going towards rent?And the interest payments will be at different months hence that income is average per month?
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Rank: Member Joined: 4/21/2015 Posts: 151
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the deal wrote:@maka the problem with fixed income is inflation... Inflation is everyone's problem. If you have rentals you can adjust for inflation but there is the risk of having no income from empty houses and we have not got to late payments and evictions yet.
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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the deal wrote:@maka the problem with fixed income is inflation... You read the article I sent?... Rem the 10m is not static.... The guy is probably putting in cash monthly esp for long ended bonds.... Which in itself earns interest.... For kids...He does a trust fund for them gives each one the cash built over the years when they finish campus.... Out of the 97k...50k gets you a very good house at Graceland.... possunt quia posse videntur
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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the deal wrote:@maka the problem with fixed income is inflation... Due to inflation, after 20yrs maka's 10m investment will be worth 5m in real terms while mugundaman's will be at 50m.
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Rank: Member Joined: 5/22/2009 Posts: 206
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You can own a house and sleep hungry. You can rent a home and be as liquid as f***. Cashflow and liquidity rules everything. Some guy in Kiserian owns one of the biggest hardwares in Kiserian and about 5 10-wheelers for transporting building materials to clients, but he doesn't own a home, he rents. Given he makes his rent in a day from his hardware business, that makes perfect financial sense to me.
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Rank: Member Joined: 12/2/2009 Posts: 299 Location: kenya
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TNT wrote:You can own a house and sleep hungry. You can rent a home and be as liquid as f***. Cashflow and liquidity rules everything. Some guy in Kiserian owns one of the biggest hardwares in Kiserian and about 5 10-wheelers for transporting building materials to clients, but he doesn't own a home, he rents. Given he makes his rent in a day from his hardware business, that makes perfect financial sense to me. One can comfort themselves all is ok to run ones affairs without a home until such people die.It can be very nasty for the family left behind especially when they were not involved in the management of such a business.You may be surprised the house is the only asset they can cling to when the shit hits the fan.A house is an insurance.
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Rank: Member Joined: 5/22/2009 Posts: 206
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popat wrote:TNT wrote:You can own a house and sleep hungry. You can rent a home and be as liquid as f***. Cashflow and liquidity rules everything. Some guy in Kiserian owns one of the biggest hardwares in Kiserian and about 5 10-wheelers for transporting building materials to clients, but he doesn't own a home, he rents. Given he makes his rent in a day from his hardware business, that makes perfect financial sense to me. One can comfort themselves all is ok to run ones affairs without a home until such people die.It can be very nasty for the family left behind especially when they were not involved in the management of such a business.You may be surprised the house is the only asset they can cling to when the shit hits the fan.A house is an insurance. Being cash rich (liquid) trumps being property rich, especially when one dies. Go ask Njenga Karume's kids. Additionally, most of the people in Nairobi have acres of ancestral land in their rural areas, so I don't understand why such people should buy tiny pieces of plots in the middle of nowhere when they'll eventually move back to their rural areas.
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Rank: New-farer Joined: 5/19/2014 Posts: 68 Location: Migori
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popat wrote:TNT wrote:You can own a house and sleep hungry. You can rent a home and be as liquid as f***. Cashflow and liquidity rules everything. Some guy in Kiserian owns one of the biggest hardwares in Kiserian and about 5 10-wheelers for transporting building materials to clients, but he doesn't own a home, he rents. Given he makes his rent in a day from his hardware business, that makes perfect financial sense to me. One can comfort themselves all is ok to run ones affairs without a home until such people die.It can be very nasty for the family left behind especially when they were not involved in the management of such a business.You may be surprised the house is the only asset they can cling to when the shit hits the fan.A house is an insurance. This only happens when you die intestate (like most kenyans do) Hiding your assets from your family and not doing a will. A well done will and good planning is all you need. For the folks who would like to be buried in their village a small two/three bedroom will suffice. Learning to sit on my hands
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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popat wrote:TNT wrote:You can own a house and sleep hungry. You can rent a home and be as liquid as f***. Cashflow and liquidity rules everything. Some guy in Kiserian owns one of the biggest hardwares in Kiserian and about 5 10-wheelers for transporting building materials to clients, but he doesn't own a home, he rents. Given he makes his rent in a day from his hardware business, that makes perfect financial sense to me. One can comfort themselves all is ok to run ones affairs without a home until such people die.It can be very nasty for the family left behind especially when they were not involved in the management of such a business.You may be surprised the house is the only asset they can cling to when the shit hits the fan.A house is an insurance. Most Africans don't even sleep let alone live in their parents' houses once they reach adulthood. Life is short. Live passionately.
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Rank: Veteran Joined: 11/14/2006 Posts: 1,311
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hardwood wrote:the deal wrote:@maka the problem with fixed income is inflation... Due to inflation, after 20yrs maka's 10m investment will be worth 5m in real terms while mugundaman's will be at 50m. I know a guy who had over 100 acres deep in kitengela... then he suddenly got sick and he needed urgent medical attention abroad.... He tried selling but he couldn't get buyers on time ....he almost died due to lack of cash....but friends eventually fundraised for him
You need a balanced portfolio.... You may have died before those 20 years without enough cash to cover some risks.
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Rank: Elder Joined: 2/16/2007 Posts: 2,114
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Liv wrote: I know a guy who had over 100 acres deep in kitengela... then he suddenly got sick and he needed urgent medical attention abroad.... He tried selling but he couldn't get buyers on time ....he almost died due to lack of cash....but friends eventually fundraised for him
You need a balanced portfolio.... You may have died before those 20 years without enough cash to cover some risks.
What did the guy do with that land after recovery?
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