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Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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wukan wrote:MugundaMan wrote:Kate_Mbarire wrote:Yes I normally look forward to property show but this time it was substandard Seconded. Seems also that they are just doing re-runs/compilations of home-ownership journeys past on the Property Show. Perhaps the season is ending. Can't wait for new ones. yaani those west suites completely sold out in such a short period and those are 25sqm for 3m. The lady mentions 8% yield implying rent of 20k per month.  The developer is moving to south b while kilimani and kileleshwa is full of empty 20m apartments. Wukan, For a self-confessed seasoned investor in studio apartments you never cease to amaze me. I would love to sell to you because you believe everything you hear or are told and run with it! Of course at under 3m these things will fly like hot cakes to investors/speculators. But as far as renting them for a much vaunted 20k (before service charge)  . Those are just hot air promises and rosy projections to make you buy quick. Just like greenhouse scams, if they could make that much per unit and under 100% occupancy, why would they sell to you? You may find that these things are 90% vacant once they come on tap, even more vacant than the Kileleshwa and Kilimani apartments you speak of. Think about it..which student in their right mind going to Strathmore will want to stay there? The richkids have their standards, the middle class kids stay home with mama, the sufferers go for 5k bedsitters that litter this town and beyond. Would YOU yourself want to live in that matchbox sized studio and pay 25k (service charge inclusive) per month? Case closed.
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Rank: Member Joined: 1/15/2015 Posts: 681 Location: Kenya
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MugundaMan wrote:wukan wrote:MugundaMan wrote:Kate_Mbarire wrote:Yes I normally look forward to property show but this time it was substandard Seconded. Seems also that they are just doing re-runs/compilations of home-ownership journeys past on the Property Show. Perhaps the season is ending. Can't wait for new ones. yaani those west suites completely sold out in such a short period and those are 25sqm for 3m. The lady mentions 8% yield implying rent of 20k per month.  The developer is moving to south b while kilimani and kileleshwa is full of empty 20m apartments. Wukan, For a self-confessed seasoned investor in studio apartments you never cease to amaze me. I would love to sell to you because you believe everything you hear or are told and run with it! Of course at under 3m these things will fly like hot cakes to investors/speculators. But as far as renting them for a much vaunted 20k (before service charge)  . Those are just hot air promises and rosy projections to make you buy quick. Just like greenhouse scams, if they could make that much per unit and under 100% occupancy, why would they sell to you? You may find that these things are 90% vacant once they come on tap, even more vacant than the Kileleshwa and Kilimani apartments you speak of. Think about it..which student in their right mind going to Strathmore will want to stay there? The richkids have their standards, the middle class kids stay home with mama, the sufferers go for 5k bedsitters that litter this town and beyond. Would YOU yourself want to live in that matchbox sized studio and pay 25k (service charge inclusive) per month? Case closed. Good point @mashaba_man 60% Learning, 30% synthesizing, 10% Debating
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Rank: Veteran Joined: 11/13/2015 Posts: 1,654
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MugundaMan wrote:Wukan, For a self-confessed seasoned investor in studio apartments you never cease to amaze me. I would love to sell to you because you believe everything you hear or are told and run with it! Of course at under 3m these things will fly like hot cakes to investors/speculators. But as far as renting them for a much vaunted 20k (before service charge)  . Those are just hot air promises and rosy projections to make you buy quick. Just like greenhouse scams, if they could make that much per unit and under 100% occupancy, why would they sell to you? You may find that these things are 90% vacant once they come on tap, even more vacant than the Kileleshwa and Kilimani apartments you speak of. Think about it..which student in their right mind going to Strathmore will want to stay there? The richkids have their standards, the middle class kids stay home with mama, the sufferers go for 5k bedsitters that litter this town and beyond. Would YOU yourself want to live in that matchbox sized studio and pay 25k (service charge inclusive) per month? Case closed. 25k is only 833 per day, you really don't get this concept of hotel living. When you are pushing crazy hours in this city chasing mulla you only spend like 9-6 in your house. This studio living is not for everyone but trust me there is a market for it.
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Rank: New-farer Joined: 9/4/2018 Posts: 64 Location: Nairobi
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wukan wrote:MugundaMan wrote:Wukan, For a self-confessed seasoned investor in studio apartments you never cease to amaze me. I would love to sell to you because you believe everything you hear or are told and run with it! Of course at under 3m these things will fly like hot cakes to investors/speculators. But as far as renting them for a much vaunted 20k (before service charge)  . Those are just hot air promises and rosy projections to make you buy quick. Just like greenhouse scams, if they could make that much per unit and under 100% occupancy, why would they sell to you? You may find that these things are 90% vacant once they come on tap, even more vacant than the Kileleshwa and Kilimani apartments you speak of. Think about it..which student in their right mind going to Strathmore will want to stay there? The richkids have their standards, the middle class kids stay home with mama, the sufferers go for 5k bedsitters that litter this town and beyond. Would YOU yourself want to live in that matchbox sized studio and pay 25k (service charge inclusive) per month? Case closed. 25k is only 833 per day, you really don't get this concept of hotel living. When you are pushing crazy hours in this city chasing mulla you only spend like 9-6 in your house. This studio living is not for everyone but trust me there is a market for it. Totally agree Wukan market IKO for studios!BUT am sold for those in NGARA,Pangani even kirinyaga road....I am a bit sceptical about NBI WEST.Maybe because I don't know too much about NBI West but I don't think the market here is as high?
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Rank: Elder Joined: 6/23/2009 Posts: 14,219 Location: nairobi
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Kate_Mbarire wrote:wukan wrote:MugundaMan wrote:Wukan, For a self-confessed seasoned investor in studio apartments you never cease to amaze me. I would love to sell to you because you believe everything you hear or are told and run with it! Of course at under 3m these things will fly like hot cakes to investors/speculators. But as far as renting them for a much vaunted 20k (before service charge)  . Those are just hot air promises and rosy projections to make you buy quick. Just like greenhouse scams, if they could make that much per unit and under 100% occupancy, why would they sell to you? You may find that these things are 90% vacant once they come on tap, even more vacant than the Kileleshwa and Kilimani apartments you speak of. Think about it..which student in their right mind going to Strathmore will want to stay there? The richkids have their standards, the middle class kids stay home with mama, the sufferers go for 5k bedsitters that litter this town and beyond. Would YOU yourself want to live in that matchbox sized studio and pay 25k (service charge inclusive) per month? Case closed. 25k is only 833 per day, you really don't get this concept of hotel living. When you are pushing crazy hours in this city chasing mulla you only spend like 9-6 in your house. This studio living is not for everyone but trust me there is a market for it. Totally agree Wukan market IKO for studios!BUT am sold for those in NGARA,Pangani even kirinyaga road....I am a bit sceptical about NBI WEST.Maybe because I don't know too much about NBI West but I don't think the market here is as high? Mvuli Suites will proove you wrong about Nairobi West KQ ABP 4.26
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Rank: New-farer Joined: 9/4/2018 Posts: 64 Location: Nairobi
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obiero wrote:Kate_Mbarire wrote:wukan wrote:MugundaMan wrote:Wukan, For a self-confessed seasoned investor in studio apartments you never cease to amaze me. I would love to sell to you because you believe everything you hear or are told and run with it! Of course at under 3m these things will fly like hot cakes to investors/speculators. But as far as renting them for a much vaunted 20k (before service charge)  . Those are just hot air promises and rosy projections to make you buy quick. Just like greenhouse scams, if they could make that much per unit and under 100% occupancy, why would they sell to you? You may find that these things are 90% vacant once they come on tap, even more vacant than the Kileleshwa and Kilimani apartments you speak of. Think about it..which student in their right mind going to Strathmore will want to stay there? The richkids have their standards, the middle class kids stay home with mama, the sufferers go for 5k bedsitters that litter this town and beyond. Would YOU yourself want to live in that matchbox sized studio and pay 25k (service charge inclusive) per month? Case closed. 25k is only 833 per day, you really don't get this concept of hotel living. When you are pushing crazy hours in this city chasing mulla you only spend like 9-6 in your house. This studio living is not for everyone but trust me there is a market for it. Totally agree Wukan market IKO for studios!BUT am sold for those in NGARA,Pangani even kirinyaga road....I am a bit sceptical about NBI WEST.Maybe because I don't know too much about NBI West but I don't think the market here is as high? Mvuli Suites will proove you wrong about Nairobi West Mr Obiero aren't these also somewhere in museum hill?I remember a studio was going for 5M sometime back and I dillydallied.
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Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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Slightly better show this week. On strategic land investment; jameni you mean people are still buying property from Diamond Property Merchants? That's like someone saying they are planning to buy land from PRC which is well known for what it does!
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Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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On this week's homeownership journey: Smart young couple! They are so young they look barely out of their late teens! And are hard working entrepreneurs too. And guess where they built their home? Of course dustbowl -- which is the future -- where else? These are the youth of the future who will build Kenya into the prosperous nation it is becoming. Not endless whiners (who rent) hapa Wazoo busy chasing a slippery payslip and crying they will never buy a plot in dustbowl because Mugundaman says do so!
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Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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Very smart lady. Bought plot in Ruiru Murera (looks like a 40*80) in 2013, took no loans, saved up, started building in 2015, built to the slab, finished the ground floor and moved in! With the rent saved, finished the top floor and voila, she owns a beautiful home rent free! And instead of living in an estate with its mingi mingi rules and service charge disputes, she is able to keep chickens for extra income and her boys are able to enjoy dogs running around the place. I could watch storos like these all day! This is the Kenyan dream! If I could have advised her I would have said buy in DC (dustbowl county) where for the same price you get a much bigger plot and more room for you and your boys to enjoy. Nevertheless she has done very well for herself. Kenyans, this is the way to go. Stop crying that life is tough and thinking you need "big loans" or "massive savings" to do things in this here our beautiful country. Kila kitu ni pole pole tu. If you are starting out with zero but have a source of income, plots are going for a song these days if you pay in installments. After a few years your plot is paid for. Then do what this lady did. Might take you longer depending on your income, but you will get there too. And it does not have to be a fancy maisonette like hers. It could be a beautiful bungalow which is way cheaper. A middle class Kenyan currently renting who spends loads of money on nyama choma and whisky surely can do this. On a side note isn't it funny how most human beings are never content? After doing all this through sweat, patience and hard work, the lady says she now wants something else with a pool etc  . Better to be content and enjoy what you have fully! Life is not a race to gather assets, when God blesses you with whatever you have jienjoy it tu bila always craving more!
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Rank: Elder Joined: 6/20/2007 Posts: 2,074 Location: Lagos, Nigeria
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MugundaMan wrote:Very smart lady. Bought plot in Ruiru Murera (looks like a 40*80) in 2013, took no loans, saved up, started building in 2015, built to the slab, finished the ground floor and moved in! With the rent saved, finished the top floor and voila, she owns a beautiful home rent free! And instead of living in an estate with its mingi mingi rules and service charge disputes, she is able to keep chickens for extra income and her boys are able to enjoy dogs running around the place. I could watch storos like these all day! This is the Kenyan dream! If I could have advised her I would have said buy in DC (dustbowl county) where for the same price you get a much bigger plot and more room for you and your boys to enjoy. Nevertheless she has done very well for herself. Kenyans, this is the way to go. Stop crying that life is tough and thinking you need "big loans" or "massive savings" to do things in this here our beautiful country. Kila kitu ni pole pole tu. If you are starting out with zero but have a source of income, plots are going for a song these days if you pay in installments. After a few years your plot is paid for. Then do what this lady did. Might take you longer depending on your income, but you will get there too. And it does not have to be a fancy maisonette like hers. It could be a beautiful bungalow which is way cheaper. A middle class Kenyan currently renting who spends loads of money on nyama choma and whisky surely can do this. On a side note isn't it funny how most human beings are never content? After doing all this through sweat, patience and hard work, the lady says she now wants something else with a pool etc  . Better to be content and enjoy what you have fully! Life is not a race to gather assets, when God blesses you with whatever you have jienjoy it tu bila always craving more! Thanks @mugandaman this is an inspiring video that you are sharing . An inspiration to young folks here on real estate . "VISION BEFORE PROVISION". They say. 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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