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The Beauty Of Investing in Penny Lands
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Tommy
#11 Posted : Monday, March 07, 2011 5:36:59 PM
Rank: Veteran

Joined: 12/9/2010
Posts: 894
Location: Nairobi
nice tips.
Don't wait for the Last Judgment. It happens every day. ~Albert Camus, The Fall, 1956
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McReggae
#12 Posted : Tuesday, March 08, 2011 10:04:36 AM
Rank: Elder

Joined: 6/17/2008
Posts: 23,365
Location: Nairobi
Very good tips, for some of us on the path!!!!
..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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alikujia
#13 Posted : Tuesday, March 08, 2011 11:00:48 AM
Rank: Member

Joined: 5/27/2010
Posts: 324
Location: nrb
Sounds, deceptively, like common sense but which is not so common! How many of us who do not own plots have wondered and despared into low spirits as we see land prices in urban areas soaring by the week, and wondering how much we will have to pay when that ellusive capital finally lands in our accounts.

From this advise, you dont actually have to lose hope, infact your chances of a good return, as at that point of purchase are as good as those already in.
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Signature
#14 Posted : Tuesday, March 08, 2011 11:22:36 AM
Rank: Member

Joined: 4/16/2010
Posts: 217
Location: Nairobi

I have never paid outright for inventment plot, I always spread payment over several months to avoid borrowing and tying down limited capital. The beauty of it is that any price increase does not affect subscribers that have earlier commenced payment.

For example there is a plot that went for 600K (my local currency) payment spread over 24 months (interst free) at 25K per month in October 2009, For new subscribers the going price for a plot is 1.2 Million but it does not affect us the old subscribers.

I know this flexible payment plan exists here in Nigeria, Ghana and Uganda from my little experience in property investment.[/quote]

@young.The options of paying in instalments for properties do exist in Kenya.For example ,we (Land & Homes Co.) are currently selling plots located at the Ruiru bypass and Kitengela.We only require that a client pays 50% downpayment and the balance is spread over six months (no monthly payments) just timelines.i.e pay 25% by end of 3rd month and balance of 25% by end of sixth month.
We believe these terms are very accommodating for people who would otherwise not manage to own the same properties with cash terms.
for more info please check out http://www.fsbo.co.ke/in...on=details&ref_no=4
http://www.fsbo.co.ke/in...ion=details&ref_no=1
properties For Sale By Owner
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kadonye
#15 Posted : Wednesday, March 09, 2011 12:22:15 PM
Rank: Elder

Joined: 5/30/2009
Posts: 1,390
Is it true that Ngong Road is earmarked for expansion? If true how far will the dual carriageway be?

That could mean there are opportunities those sides of Kiserian.Drool
What a wicked man I am!The things I want to do,I don't do.The things I don't want to do I find myself doing
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GITHUKUSM
#16 Posted : Thursday, March 10, 2011 9:45:28 AM
Rank: Member

Joined: 12/21/2007
Posts: 84
Young this is good advice,Personally I always buy property and put a higher price for it not expecting to sell immediately but interesting enough i always sell it earlier than i expected.
For example i will buy the teachers plots when they are selling,immediately tell my friends i have a property am selling and add a margin usually they will buy.I will then keep on adjusting the price as price changes.
Right now the teachers have some plots along the Ruiru bypass;you can mail me githukusm@yahoo.com i connect you to them.
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young
#17 Posted : Thursday, March 10, 2011 10:45:17 AM
Rank: Elder

Joined: 6/20/2007
Posts: 2,075
Location: Lagos, Nigeria
GITHUKUSM wrote:
Young this is good advice,Personally I always buy property and put a higher price for it not expecting to sell immediately but interesting enough i always sell it earlier than i expected.
For example i will buy the teachers plots when they are selling,immediately tell my friends i have a property am selling and add a margin usually they will buy.I will then keep on adjusting the price as price changes.
Right now the teachers have some plots along the Ruiru bypass;you can mail me githukusm@yahoo.com i connect you to them.



Thanks @Githukusm unfortunately I reside in Nigeria and I do not have any interest now or in future to invest in Kenya real estate.
I only own a plot (1/8 Acre) in Kampala through Akright Projects www.akright.biz which they will build a vacation home for my family.

I am only contributing on general real estate investment ideas here, I made reference to Kenya suburbs since I am writing to mainly Kenya audience and am familiar with Nairobi city (not the suburbs).

Previously it was my plan to own a house in Nairobi but the price was very prohibitive so I had to take a look at Kampala.
It might interest you to know that the cost of the land in a planned estate located on prime Entebbe road was UGX12 Million which translates to Ksh 420K , 40% initial deposit, payment spread over 6 months. The cost of construction (by Akright) for 3 bedroom executive bungalow without servant quarters is Ugx105M this translates to Ksh 3.6M payment spread over 24 months, I plan to commence payment from next year by the grace of God.

All my investment plots are here in Nigeria and neighbouring Ghana for proximity reasons.


The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Fujo
#18 Posted : Thursday, March 17, 2011 4:47:14 AM
Rank: New-farer

Joined: 3/13/2011
Posts: 16
@githuku sm please hit me up at mojofujo@yahoo.com. I am interested,
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GITHUKUSM
#19 Posted : Thursday, March 24, 2011 12:37:01 PM
Rank: Member

Joined: 12/21/2007
Posts: 84
@Fujo,catch up with more info on your mail.Should you get stuck just get back githukusm@yahoo.com.The teachers plots are now in the third phase.
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GITHUKUSM
#20 Posted : Thursday, March 24, 2011 12:43:03 PM
Rank: Member

Joined: 12/21/2007
Posts: 84
@Young,your advise runs across the board and especially for developing countries where new towns keep on coming up.
Sad to hear you have no intention of investing in Kenya.
Let me know,have we overpriced our property or is our property better than those in other countries.
Keep on posting your advice is timely.
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