Wazua
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Rental Apartment Blocks Purchase.
Rank: New-farer Joined: 6/27/2016 Posts: 12 Location: Nairobi
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Thanks to Wazuan's I have been able to do several projects in the past few years. Of late I have noticed with concern the increased number of rental buildings put on auction or repossed by various commercial banks.
As much one would feel sorry for the owners there is opportunities where some of them are at a discount especially the distress sales. Have any of you tested this market.
My plan is to finance the purchase using a commercial bank loan for properties that have a capital ratios of above 12%. Take home cash each month can be 0 or very small amount am after the assets.
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Rank: Elder Joined: 6/23/2009 Posts: 14,071 Location: nairobi
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smartbull wrote: Thanks to Wazuan's I have been able to do several projects in the past few years. Of late I have noticed with concern the increased number of rental buildings put on auction or repossed by various commercial banks.
As much one would feel sorry for the owners there is opportunities where some of them are at a discount especially the distress sales. Have any of you tested this market.
My plan is to finance the purchase using a commercial bank loan for properties that have a capital ratios of above 12%. Take home cash each month can be 0 or very small amount am after the assets. I have taken this path in various estates within Eastlands, and Langata. Your entry price must be your main worry because resale might not be easy in current environment. Think long term. All the best
KQ ABP 4.26
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Wazua
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Rental Apartment Blocks Purchase.
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