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What can i do with 8-9 Million in Kenya?
Rank: Member Joined: 7/27/2014 Posts: 560 Location: Eastlando
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A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be
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Rank: Elder Joined: 3/29/2011 Posts: 2,242
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Fullykenyan wrote:A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be If I were you, i. Buy 3 acres of land in a one of the growing Nbi suburbs @ approx 3.5 per acre @ total 10.5 m. Assume an additional 500k as brokers fees, total cost 11m ii. Subdivide the land into 21 portions, assume a processing fee of 50k per portion, total approx 1 m. iii. Wait for about about 1 yr and start disposing the plots. Each portion target 800k-1m. Assume you dispose over a period of 1 yr. Uisng the lower rate of 800k, you can target to realize 16.8m iv. Overall, you would make at least a 40% return over two years. "Things that matter most must never be at the mercy of things that matter least." Goethe
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Rank: Member Joined: 7/27/2014 Posts: 560 Location: Eastlando
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Gathige wrote:Fullykenyan wrote:A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be If I were you, i. Buy 3 acres of land in a one of the growing Nbi suburbs @ approx 3.5 per acre @ total 10.5 m. Assume an additional 500k as brokers fees, total cost 11m ii. Subdivide the land into 21 portions, assume a processing fee of 50k per portion, total approx 1 m. iii. Wait for about about 1 yr and start disposing the plots. Each portion target 800k-1m. Assume you dispose over a period of 1 yr. Uisng the lower rate of 800k, you can target to realize 16.8m iv. Overall, you would make at least a 40% return over two years. very good advice. This never crossed my mind before
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Rank: Member Joined: 9/27/2006 Posts: 506
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Fullykenyan wrote:Gathige wrote:Fullykenyan wrote:A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be If I were you, i. Buy 3 acres of land in a one of the growing Nbi suburbs @ approx 3.5 per acre @ total 10.5 m. Assume an additional 500k as brokers fees, total cost 11m ii. Subdivide the land into 21 portions, assume a processing fee of 50k per portion, total approx 1 m. iii. Wait for about about 1 yr and start disposing the plots. Each portion target 800k-1m. Assume you dispose over a period of 1 yr. Uisng the lower rate of 800k, you can target to realize 16.8m iv. Overall, you would make at least a 40% return over two years. very good advice. This never crossed my mind before I'm sorry, I just have to comment that the above advice is not productive at all, in the sense of generating lasting wealth.
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Rank: Member Joined: 11/15/2010 Posts: 455 Location: Nairobi
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Fullykenyan wrote:A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be I met someone who was very interesting. His school of thought was that no investment is bad as long as you enjoy doing what you do, and you would still do it even if there is no pay or returns. ....follow your passion/instinct/inner-voice. Another thing about residential rental, location is key. If I were you I'd spend 70% of your available cash (10M) ...or more to secure good location then nijenge pole pole. ....He who began a good work in you will carry it on to completion..
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Rank: Member Joined: 5/15/2019 Posts: 687 Location: planet earth
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Fullykenyan wrote:A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be This storo is not adding up. 1.You do not know the exact amount you have? 2.What is the source of the additional "2-4" that you will "add" Answer me that and then I can help you achieve all your dreams  In the final analysis, it all boils down to sheer plain old hard work and dogged persistence. Nothing more, nothing less!!
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Rank: Member Joined: 7/27/2014 Posts: 560 Location: Eastlando
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amorphous wrote:Fullykenyan wrote:A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be This storo is not adding up. 1.You do not know the exact amount you have? 2.What is the source of the additional "2-4" that you will "add" Answer me that and then I can help you achieve all your dreams What i meant with my cash being between 8-9 million, was me trying saying how much i have without going into much details. My money is in Euros. The extra 2-4 Million would come from selling part of my shares and bonds. I am also not shy to get a loan, if the loan would be relatively cheaper in the long run
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Rank: Member Joined: 7/27/2014 Posts: 560 Location: Eastlando
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tinker wrote:Fullykenyan wrote:A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be I met someone who was very interesting. His school of thought was that no investment is bad as long as you enjoy doing what you do, and you would still do it even if there is no pay or returns. ....follow your passion/instinct/inner-voice. Another thing about residential rental, location is key. If I were you I'd spend 70% of your available cash (10M) ...or more to secure good location then nijenge pole pole. Thanks for this perspective.
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Rank: Member Joined: 5/15/2019 Posts: 687 Location: planet earth
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Fullykenyan wrote:
What i meant with my cash being between 8-9 million, was me trying saying how much i have without going into much details. My money is in Euros. The extra 2-4 Million would come from selling part of my shares and bonds. I am also not shy to get a loan, if the loan would be relatively cheaper in the long run
Ahaa! Now the picture makes very good sense and is quite clear. My advice; 1. Make a bee-line for where else but Jewel In the Crown, DC 2. Buy a 1/4 acre plot in any of its top estos for about 4m. 3. Build with the balance 4. If you are greedy and impatient, sell as expeditiously as possible for a few measly millions in profit 5. If you are smart, get a tenant and sit for about 20 to 30 years and then thank me later. Ni hayo tu. In the final analysis, it all boils down to sheer plain old hard work and dogged persistence. Nothing more, nothing less!!
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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Fullykenyan wrote:A lot has been going through my mind of late. In my bank account,i have about 8-9 Million. However, where I live, banks don't offer any interest rates. I have thought of adding this money, to what I already have, in shares and bonds, however, something in me wants to invest in residential houses for renting. My questions to wazuans, what can i manage to put up with money?. I am willing to add another 2-4 Million to make it 12 Million, if need be Go to the nearest bar and drink,keep drinking until you get a solid idea. If you don't know what to do with the cash. Pack it in a fixed deposit a/c . Hii mambo ya kuchukua ideas from online strangers doesn't work If Obiero did it, Who Am I?
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