@ titanic,It sounds to me like you are biting more than you can chew. if i were you i would put off buying the car for now and continue using whatever transport means you are currently using. secondly i would dispose of property C at the market value. that would leave me with about 3.6 million which i would use to pay off the outstanding loan on A. i would then move into property A and put the amount left from the sale of C into developing B.

The effect would be that you have one property that is completely yours(debt free), a second that is under construction and you would be living rent free as well.

.... Just an opinion

@titanic, am i missing something, You earn 147k but spend 198k? Impossible.

@Redondo is spot on. House C has to go. obviously it will cramp your style having to move to House A but looks worth it. The dead shares got to go.( bear still lurkin can always get em back) then pay off house A

Pay for your MBA and get a 500k ride. Both this will boost your esteem & chances of earning higher net though not in the short term. In the medium to long term they can land you a synergetic 'patner' whose income can help you clear the debts faster. ha!

Assuming B is one of those 'suraya-like deals'- then when its complete you should be able to get about 25k rent which you use to make extra payments- or even levearge into another mportgage

Incidentally in Kenya you can get financing on the appreciation?

How did you get 3 mortgages that are > your earnings?

Some credit analyst didnt do their work, or there is something you are not telling,

Thanks all those who gave me your advise. You guys are amazing!. I have finally made up my mind. I have decided to sell House A and House B at 4.2m each. The buyer of House A, as part payment, is selling me a 2 bedroom house at Highrise for 2 m and he will take over the House A mortgage (TPS)from me and pay NSSF direct. I will only add him 200K that I will pay in 4 installments of 50K each. I am also selling House B at 4.2 m. Pay off the mortgage of house B and pay Kshs.1 m towards reducing the mortgage of C. This will reduce my monthly mortgage payment of House C from 70K per month to 56K p.m. I have also decided to moved out of House C and rent it out for 30K as I sort myself out. I have decided to rent a house where I pay 18K rent. The effect of all this is that I will have my own house at Highrise with no loan and I will reduce my monthly mortgage payments from 148K to 56K. Besides, I will also improve my cash flow by 44K. In June or thereabouts, I will look for a plot to buy and begin building my retirement home at my pace. I have also decided to sell the shares (although at a heavy loss) so that I can pay for my MBA and buy the car. Once again Asanteni sana all those who gave me advise.

@titanic:

you tried to beat the system by hiding your loan re-payments so that you get more loans than you can afford....now you are paying for it: you have too much debt.

Even if we add you wife's 50k income; you will have only 197k against 187k expenses....and then you say that she also has her own projects....and the puzzle gets more complicated.

So, start by selling off the "dead stocks" and pump that money into....

@mozenrat:

You are not serious, are you? Debt will kill you! Never ever take more than you can afford. Indeed you should only take less than you can afford...then pay back as much as you can afford; thereby reducing the term by a big margin

Aai @Titanic, you surely outdid yourself. And you want to get into more debt around June this year to build your 'own house'????. It would have made sense to stay off new rojects completely this year, with the exception of the MBA to take stocks. Else going to new projects, after yo have barely sorted out the mess migh show you aint that repentant or have not realized full the mess you are in.

One thing you should have mentioned is how uch you got the various houses for...

@titanic: you don't seem to have made "good returns" this time round. And indeed if you have made good returns in the past, how come you are crumbling under the weight of all this debt?

Sometimes I consider myself to be one of the richest people in the world! This is because I don't owe any debts...not even for power and water - they owe me!

Be careful my friend, you may be claiming to own a lot of property while in reality they belong to your financiers.

Clear your debts first before you get into new projects. You don't need an MBA to be a consultant! Ask me; I am one and I don't have one!

@titanic, there is a HUGE difference between Tenant Purchase and Mortgage - it is called Mortgage Relief. With the former, you don't get tax relief on interest paid, in the latter you do, as much as ksh 150,000 a year!!
@chaka, the difference is one is lightweight in terms of content - guess which one