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What can i do with 8-9 Million in Kenya?
Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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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.
Where are these suburbs?
If Obiero did it, Who Am I?
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Swenani 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.
Where are these suburbs?
Ummmh you will kwama with those plots hadi 2030.
possunt quia posse videntur
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Rank: Member Joined: 12/1/2007 Posts: 539 Location: Nakuru
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maka wrote:Swenani 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.
Where are these suburbs?
Ummmh you will kwama with those plots hadi 2030.
Touche
Am sure most wazuan and most upwardly middle class have this line of thinking (some plot laying idle somewhere waiting to appreciate) quail-scenario For investors as a whole, returns decrease as motion increases ~ WB
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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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
Why not buy shares of blue chip companies at the NSE? Covid-19 will come and pass...stocks will bounce back...high chance you triple your money in the next 5 years...
Real estate wont work with this small amount...
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Rank: Elder Joined: 3/19/2010 Posts: 3,505 Location: Uganda
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the deal 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
Why not buy shares of blue chip companies at the NSE? Covid-19 will come and pass...stocks will bounce back...high chance you triple your money in the next 5 years...
Real estate wont work with this small amount...
Wacha wewe.this is a lot of money for real estate .some of us started with less than 2% of that amount and so far so good.
Shares are for the steel hearted.10 years down the lane investment in land has been more fulfilling than shares.
Fullykenyan go to a place like kangundo road in a cosmopolitan shopping centre ,get a plot at 3million ,build rental houses with shops on the ground floor.if you get a good construction team that will not steal from you ,you can have a decent 5-storey rental house with 15- 2bedroom units at 12m-15m .this will give you a generational inheritance to you and your kids
punda amecheka
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Rank: Member Joined: 5/15/2019 Posts: 687 Location: planet earth
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newfarer wrote:the deal 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
Why not buy shares of blue chip companies at the NSE? Covid-19 will come and pass...stocks will bounce back...high chance you triple your money in the next 5 years...
Real estate wont work with this small amount...
Wacha wewe.this is a lot of money for real estate .some of us started with less than 2% of that amount and so far so good.
Shares are for the steel hearted.10 years down the lane investment in land has been more fulfilling than shares.
Fullykenyan go to a place like kangundo road in a cosmopolitan shopping centre ,get a plot at 3million ,build rental houses with shops on the ground floor.if you get a good construction team that will not steal from you can have a reasonable 5storey rental house with 15 2bedroom units at 12m-15m .this will give you a generational inheritance to you and your kids
Are you sure?
If yes, I need the name of your foreman and materials suppliers pronto 
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: 5/15/2019 Posts: 687 Location: planet earth
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the deal 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
Why not buy shares of blue chip companies at the NSE? Covid-19 will come and pass...stocks will bounce back...high chance you triple your money in the next 5 years...
Real estate wont work with this small amount...
Are you sure?
If yes, I need to know the name of the planet you are on outside this earth where these things are not possibo, so I can pay you a visit
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: Elder Joined: 3/19/2010 Posts: 3,505 Location: Uganda
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amorphous wrote:newfarer wrote:the deal 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
Why not buy shares of blue chip companies at the NSE? Covid-19 will come and pass...stocks will bounce back...high chance you triple your money in the next 5 years...
Real estate wont work with this small amount...
Wacha wewe.this is a lot of money for real estate .some of us started with less than 2% of that amount and so far so good.
Shares are for the steel hearted.10 years down the lane investment in land has been more fulfilling than shares.
Fullykenyan go to a place like kangundo road in a cosmopolitan shopping centre ,get a plot at 3million ,build rental houses with shops on the ground floor.if you get a good construction team that will not steal from you can have a reasonable 5storey rental house with 15 2bedroom units at 12m-15m .this will give you a generational inheritance to you and your kids
Are you sure?
If yes, I need the name of your foreman and materials suppliers pronto
Most of the cash in construction goes to waste -theft.Structure is the easiest ,the hardest deal is the finishing.But this can be done polepole.with 12-15m the job will be substantially done.if you want to get more aesthetically then you spend much more. punda amecheka
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Rank: Member Joined: 5/15/2019 Posts: 687 Location: planet earth
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newfarer wrote:
Most of the cash in construction goes to waste -theft.Structure is the easiest ,the hardest deal is the finishing.But this can be done polepole.with 12-15m the job will be substantially done.if you want to get more aesthetically the you spend much more.
- How many apartments per floor?
- Plinth area per apartment?
Answer me those and we will separate the possible from impossible regarding your claim 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: Elder Joined: 3/19/2010 Posts: 3,505 Location: Uganda
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amorphous wrote:newfarer wrote:
Most of the cash in construction goes to waste -theft.Structure is the easiest ,the hardest deal is the finishing.But this can be done polepole.with 12-15m the job will be substantially done.if you want to get more aesthetically the you spend much more.
- How many apartments per floor?
- Plinth area per apartment?
Answer me those and we will separate the possible from impossible regarding your claim
You can work with 80sqm with 3 units per floor.Basic but not substandard finishing.getting above foundation in black cotton soil and the slab are the most costly parts of the structure.walls cost much less.
Assuming each slab floor cost 1.5million and the walls 1million .the structure will total to 12.5 million I would give finishing another 6 million at most . Finishing can be done as letting to tenants is ongoing so you can recoup some cash to complete some floors if cash sources dry up punda amecheka
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