The best solution is to save for 2.5 to 3 years=kes 1m.

With the 1m, pool resources to buy 1/8th land near nairobi where you can get good rental income.
You can join other guys on such a pooling resouces idea here

http://a4architect.com/d.../topic/joint-investment/

With just 25k per month one can access a 4 year mortgage for one of those Suraya bed sitters going for 900k!

Plus you can charge 10-15k rent on the same house!

I would actually advise the same.

Hey @Maka did you mean to sound sceptical? Or are you genuinely curious?

You can still pay off the mortgage in 4 years with 35k monthly!

Better still, for a 1.2M house, this is well within range that sacco's can give you Loan. So, If you can just get the deposit, pay most of it before House is Finished, then when they get done, you only take mortgage for around 1M, whose 4YR repayment would be @ 29K p/m. At 13pc interest(only sacco).

of course, you can choose to live in it, or rent out after 4yrs, and then work on another project.

Btw, not sure if you have family, but this would be best for "single" or a couple w/out a baby. (My opinion).

Am just curious, are wazuans advicing someone to buy a 15m2 apartment for KES1M? Along mombasa road?



Hata na dawa, siwezi nunua!

Wololo mayo!
5m x 3m total area? Na bado service charges! Hii wazua ina millionaires kweli kweli.

Try Edermann Greatwall apartments 2bdr @28pm mortgage but you need to raise the deposit. Excellent rental returns which you can plough back and clear in shorter time

The most economical way to go about it with kes 1m budget is through pooling resources as is being discussed here.

www.a4architect.com/discus/topic/joint-investment/

This way, you will own a 20m2 bedsitter with chances of increasing other rental units vertically in future.
For this, you will have to team up with other like minded Kenyans and execute the project with ownership under sectional title or LLC.
With this, there is a guaranteed 10% ROI.

The next best option is Sucasa.

Sucasas 18m2 costs 1.3m and has no option of future expansion.

The other option is to buy land in the middle of nowhere for 0.5m and build a mabati shack for 0.5m. Here, you cant use the house since its too far from tarmac eg Jamii Bora situation.

Hey @dunkang , if you realize, those "sweeter ways" of spending 1.2M or 30k p/m is what the poster needed.

Would be very helpful if you tell us what you would go for. Like @digitek1 did.