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Nyayo Embakasi Houses
Rank: Elder Joined: 2/16/2007 Posts: 2,114
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obiero wrote:Noting that original title will remain in name of owner i.e obiero; who has first right to buy out other partners at any time through refund of initial investment amount; @Obiero, Is this fair?I think the title should be in the names of all investors? In my view the refund should be based on the market valuation of the property at the time when buying out the other partners? Is this arrangement legit? What about payments of land rates and land rent?
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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Chaka wrote:obiero wrote:Noting that original title will remain in name of owner i.e obiero; who has first right to buy out other partners at any time through refund of initial investment amount; @Obiero, Is this fair?I think the title should be in the names of all investors? In my view the refund should be based on the market valuation of the property at the time when buying out the other partners? Is this arrangement legit? What about payments of land rates and land rent? Or better have the title in a company name where all interested parties will have share holding equal to their contribution. With majority having the right of buy off at market price ( after valuation) on a willing buyer and seller basis.
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Rank: Elder Joined: 6/23/2009 Posts: 14,217 Location: nairobi
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Jamani wrote:Chaka wrote:obiero wrote:Noting that original title will remain in name of owner i.e obiero; who has first right to buy out other partners at any time through refund of initial investment amount; @Obiero, Is this fair?I think the title should be in the names of all investors? In my view the refund should be based on the market valuation of the property at the time when buying out the other partners? Is this arrangement legit? What about payments of land rates and land rent? Or better have the title in a company name where all interested parties will have share holding equal to their contribution. With majority having the right of buy off at market price ( after valuation) on a willing buyer and seller basis. A valuation will be done to determine fair market price at time of buyout. Unable to transfer title to joint names or company, as I am currently enjoyin subsidized loan repayment rate from my employer
KQ ABP 4.26
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Rank: Elder Joined: 6/23/2009 Posts: 14,217 Location: nairobi
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obiero wrote:Jamani wrote:Chaka wrote:obiero wrote:Noting that original title will remain in name of owner i.e obiero; who has first right to buy out other partners at any time through refund of initial investment amount; @Obiero, Is this fair?I think the title should be in the names of all investors? In my view the refund should be based on the market valuation of the property at the time when buying out the other partners? Is this arrangement legit? What about payments of land rates and land rent? Or better have the title in a company name where all interested parties will have share holding equal to their contribution. With majority having the right of buy off at market price ( after valuation) on a willing buyer and seller basis. A valuation will be done to determine fair market price at time of buyout. Unable to transfer title to joint names or company, as I am currently enjoyin subsidized loan repayment rate from my employer as a trade off of havin title in own name, I shall cater for land rent and land rates
KQ ABP 4.26
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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@obiero sounds good but too risky for the partners.
1. What happens in the unfortunate event of demise of either ( based on mutungas court partner may lose)
2. You mention that one can pay 50% of cost yet you remain with 51% holding.....?...?
3. Rates and rents are cheap a total of KES 1500 per year, and serves to reinforce the property as yours only, meaning nothing tangible to partners.
4. I doubt the kind of partnership exists, unless you are willing for title to remain in your name and you sign out transfers papers then deposited with my lawyer.
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Rank: Elder Joined: 6/23/2009 Posts: 14,217 Location: nairobi
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Jamani wrote:@obiero sounds good but too risky for the partners.
1. What happens in the unfortunate event of demise of either ( based on mutungas court partner may lose)
2. You mention that one can pay 50% of cost yet you remain with 51% holding.....?...?
3. Rates and rents are cheap a total of KES 1500 per year, and serves to reinforce the property as yours only, meaning nothing tangible to partners.
4. I doubt the kind of partnership exists, unless you are willing for title to remain in your name and you sign out transfers papers then deposited with my lawyer. Indeed it is risky for the partner. It was initially meant for family but only one has available funds and which are insufficient for what I envision. About the 50%, it is actually meant to read as 49%. Did that on excel just for general idea of what an investor expexts as return. In the event of my demise, the lawyer will look at current rates as directed by a valuation report and pay off other investors from my benefits which are substantial. It is upon the other parter to determine how his/her money is to be claimed as per signed agreement. High risk, high return.
KQ ABP 4.26
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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obiero wrote:Jamani wrote:@obiero sounds good but too risky for the partners.
1. What happens in the unfortunate event of demise of either ( based on mutungas court partner may lose)
2. You mention that one can pay 50% of cost yet you remain with 51% holding.....?...?
3. Rates and rents are cheap a total of KES 1500 per year, and serves to reinforce the property as yours only, meaning nothing tangible to partners.
4. I doubt the kind of partnership exists, unless you are willing for title to remain in your name and you sign out transfers papers then deposited with my lawyer. Indeed it is risky for the partner. It was initially meant for family but only one has available funds and which are insufficient for what I envision. About the 50%, it is actually meant to read as 49%. Did that on excel just for general idea of what an investor expexts as return. In the event of my demise, the lawyer will look at current rates as directed by a valuation report and pay off other investors from my benefits which are substantial. It is upon the other parter to determine how his/her money is to be claimed as per signed agreement. High risk, high return. Sorry that can't work with me.
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Rank: Elder Joined: 6/23/2009 Posts: 14,217 Location: nairobi
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@Jamani. Thanks for the engagement. @Others. The offer remains open with rent having been increased to KES 30,000.. A keen eye may note that this beats both fixed deposit and government securities in terms of appreciation of principle as well as interest (rent) earned.
KQ ABP 4.26
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Rank: Elder Joined: 6/23/2009 Posts: 14,217 Location: nairobi
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obiero wrote:Nyayo Embakasi Apartment, Investment Opportunity
Revised sample structure:
Investment (KES)
Ownership
Monthly rent (KES)
6,480,000
100%
30,000
3,240,000
50%
15,000
1,620,000
25%
7,500
810,000
12.5%
3,750
405,000
6%
1,800
Minimum investment is currently pegged at KES 405,000, with increments of similar amount being encouraged at regular intervals in order to build a formidable portfolio.
Interested parties can follow and engage me on twitter @obieroamerica or right here on wazua
KQ ABP 4.26
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Rank: Elder Joined: 6/23/2009 Posts: 14,217 Location: nairobi
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Today I have signed off with an investor at 25% part ownership.. Lawyer was engaged, but by-and-large I have an upperhand. This person has decided to bear risk for a return.. In itself, life is a risk. Im soo happy coz I was taking soo long to find a willing investor
KQ ABP 4.26
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