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4 family (3 bed/2bath) flat budget Ksh. 5m
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Penny-Stocker
#51 Posted : Tuesday, May 07, 2013 9:08:13 PM
Rank: Member

Joined: 10/31/2010
Posts: 154
stocksmaster wrote:
Penny-Stocker wrote:
To all, like I said in my initial post, almost a year ago...it's never to early to start investing for your retirement! I'm only 29yrs and in about 4 months, I'll be collecting 120K from rent @30K per unit...on top of my 240K net salary (that's 360K)! Looking at putting up 6more units in a 5 years time, working for 5 more years after that....retirement at 40yrs! I'm loving this!


Good one........so about Ksh 6M invested for a Ksh 120K monthly return (Ksh 1.44M per year). Thats about a gross return of 24% p.a.....not bad!

You giving me ideas.

Happy hunting.


Na hiyo ni heasbu kamili! Asured return of at least 20%. Which bank gives that? None....!
Na hiyo ni ni maendeleo!
“None but ourselves can free our minds.”
- Bob Marley
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bizbyte
#52 Posted : Tuesday, May 07, 2013 9:45:48 PM
Rank: New-farer

Joined: 5/25/2010
Posts: 27
Location: Nairobi
Applause Applause Applause

Impressive!
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Mjasirii
#53 Posted : Tuesday, May 07, 2013 9:51:17 PM
Rank: Member

Joined: 11/8/2012
Posts: 257
Amazing,source of financing;Savings or Loan from the bank/Sacco?
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Penny-Stocker
#54 Posted : Wednesday, May 08, 2013 3:01:07 AM
Rank: Member

Joined: 10/31/2010
Posts: 154
Mjasirii wrote:
Amazing,source of financing;Savings or Loan from the bank/Sacco?


Ambos (both)! 60% Savings and 40% bank loan.
“None but ourselves can free our minds.”
- Bob Marley
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a4architect.com
#55 Posted : Wednesday, May 08, 2013 8:42:01 AM
Rank: Veteran

Joined: 1/4/2010
Posts: 1,668
Location: nairobi
Penny-Stocker wrote:
wilyum wrote:
@Penny-Stocker , weka email hapa kuan maswali. u mean 6M u can do 4 houses and they are 3 bed-room?


@a4architect, is this possible in nairobi?


Yes, I'm at just under 5m at the moment 4.7something.
I am yet to tile the floors, build cabinets and interior doors, weka vyo and paint


To finish with the remainder of 1.3 m , you need to be extra careful since finishes and external works e.g gate,septic tank ,kplc, water tank,water connection,driveway, landscaping take 30 to 40% of costs. 30% of 4.7m is 1.4m. so it will slightly pass the 6m mark if cost saving features such as material specifications and labour utilisation are not done keenly.
As Iron Sharpens Iron, So one Man Sharpens Another.
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XSK
#56 Posted : Wednesday, May 08, 2013 8:47:58 AM
Rank: Veteran

Joined: 12/8/2009
Posts: 975
Location: Nairobi
Penny-Stocker wrote:
stocksmaster wrote:
Penny-Stocker wrote:
To all, like I said in my initial post, almost a year ago...it's never to early to start investing for your retirement! I'm only 29yrs and in about 4 months, I'll be collecting 120K from rent @30K per unit...on top of my 240K net salary (that's 360K)! Looking at putting up 6more units in a 5 years time, working for 5 more years after that....retirement at 40yrs! I'm loving this!


Good one........so about Ksh 6M invested for a Ksh 120K monthly return (Ksh 1.44M per year). Thats about a gross return of 24% p.a.....not bad!

You giving me ideas.

Happy hunting.


Na hiyo ni heasbu kamili! Asured return of at least 20%. Which bank gives that? None....!
Na hiyo ni ni maendeleo!



Penny-stocker

Congratulations! That's fine piece of work
You will know that you have arrived when money and time are not mutually exclusive "events" in you life!
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kiriita
#57 Posted : Wednesday, May 08, 2013 9:06:57 AM
Rank: Member

Joined: 4/20/2008
Posts: 437
stocksmaster wrote:
Penny-Stocker wrote:
To all, like I said in my initial post, almost a year ago...it's never to early to start investing for your retirement! I'm only 29yrs and in about 4 months, I'll be collecting 120K from rent @30K per unit...on top of my 240K net salary (that's 360K)! Looking at putting up 6more units in a 5 years time, working for 5 more years after that....retirement at 40yrs! I'm loving this!


Good one........so about Ksh 6M invested for a Ksh 120K monthly return (Ksh 1.44M per year). Thats about a gross return of 24% p.a.....not bad!

You giving me ideas.

Happy hunting.


Applause Applause Applause

@ Penny stocker - very impressive. Two questions:

One, what was the cost of the land?

Two, isn't it time you changed your handle? Those ain't pennies no more, LoL!
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Prime
#58 Posted : Wednesday, May 08, 2013 11:02:08 AM
Rank: Member

Joined: 2/27/2011
Posts: 518
Penny-Stocker wrote:
Hello Wazuans, I am starting a project thread for my project in Mamboleo,Kisumu- 4 family (3bed, 2bath). I will be posting costs, challenges, and all that jazz. My budget is 5m... I own the land outright, which is a good thing.



the project is simply superb. The photos speak it all. You have given many of us a new lease of life. many guys did believe that it can be done. The wazua family is indebted to you. Congratulations are in order. Applause Applause Applause
if possible kindly give the breakdown of the costs, challenges etc as you said you would.
In the spirit of wazua... it would be beautiful if more guys came up with threads on projects they are doing and the challenges and lessons they encounter. That way the learning is more practical. Projects could range from houses, businesses or even farming. It is by sharing that we may even learn a thing or two.
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pyrex
#59 Posted : Wednesday, May 08, 2013 12:34:59 PM
Rank: Member

Joined: 12/11/2006
Posts: 14
Fantastic job penny stocker the stones are beautiful where did you source from? am embarking on a similar project in Otonglo area just waiting for NEMA approval
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chemos
#60 Posted : Wednesday, May 08, 2013 1:04:49 PM
Rank: Elder

Joined: 11/28/2006
Posts: 1,799
pyrex wrote:
Fantastic job penny stocker the stones are beautiful where did you source from? am embarking on a similar project in Otonglo area just waiting for NEMA approval



The stones look like KEDOWA stones..

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