nairobby wrote:Moorings wrote:Great Wazua people, am humbled from your input in support or otherwise - its has been much appreciated. Asante!
I now embark to do a mixed use - 2 levels of retail/commercial and 2 levels of residential, 1 bedrooms & bedsitters after getting approvals for change of user. I believe the mix will mitigate any risks [tenancy uptake] between the 2 categories. Am i on track here? Shukrani sana wote!
I would stick to commercial only on the ground level and make the rest residential units
Good suggestion but I think his plan is excellent for 50/50 diversification. Commercial units bring in more moolah as well as more long term, stable tenants while residentials are less moolah, more headache and high turnover of tenants in most cases. Isitoshe since it is near a so called slum, competition for commercial space will be intense. Remember not everybody living in a slum is poor. There are middle class people and businessfolks in there who wouldn't mind upgrading their premesis to something modern.
Age and family mellows us all over time