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4 family (3 bed/2bath) flat budget Ksh. 5m
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gotieno
#61 Posted : Wednesday, May 08, 2013 2:40:46 PM
Rank: Member

Joined: 12/29/2006
Posts: 11
Location: Kisumu
chemos wrote:
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..



Great Job penny stocker!. I like the workmanship and the pattern of the external masonry stones which is very similar to my 4 bed room maisonnete at Riat Hills (Kisumu). Completed the slab in Feb and just completed the walls for the upper floor. so far spent 2.2M on everything.Will take a 2 - 3 month break before embarking n the next phase- ring beam & wall plate and hope to do Decra roofing in October/November.
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digitek1
#62 Posted : Wednesday, May 08, 2013 2:59:52 PM
Rank: Veteran

Joined: 2/3/2010
Posts: 1,797
Location: Kenya
Penny-Stocker wrote:
digitek1 wrote:
Penny-Stocker wrote:
guru267 wrote:
Be careful about your 5million cost.. It might leave little room for any margins to be had!

I know for a fact GOK is selling very spacious flats in Nairobi, Madaraka (3bed/2bath) for 7million...
If yours are located all the way in Kisumu it might be hard to charge an amount even close to this!


I am not building to sell. It is an investment (retirement may be) I am 29yrs old and just want to secure my financial future

29 yrs too young to be building retirement home unless its the house you are going to be living in. why not buy more vacant plots in the area

Digi, it's never too early to start planning for retirement...how about if I want to retire at 45 or 50 and travel our beautiful country - I'll be able to do that knowing that at the end of the month, I'll have cash in my bank account. Oh, not to mention that I'll be my own boss.

Applause Applause Applauseswallow my words and give a bowsmile
I may be wrong..but then I could be right
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Penny-Stocker
#63 Posted : Wednesday, May 08, 2013 3:47:15 PM
Rank: Member

Joined: 10/31/2010
Posts: 154
a4architect.com wrote:
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.



All KPLC is paid...just waiting for my 5 meters to be connected, septic tank was the first to be done kitambo! All I have left with, that's yet to be paid for are tile the floors, build cabinets and interior doors, weka vyo and paint! The exterior job will be finished mid next week latest!
“None but ourselves can free our minds.”
- Bob Marley
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Penny-Stocker
#64 Posted : Wednesday, May 08, 2013 3:50:44 PM
Rank: Member

Joined: 10/31/2010
Posts: 154
digitek1 wrote:
Penny-Stocker wrote:
digitek1 wrote:
Penny-Stocker wrote:
guru267 wrote:
Be careful about your 5million cost.. It might leave little room for any margins to be had!

I know for a fact GOK is selling very spacious flats in Nairobi, Madaraka (3bed/2bath) for 7million...
If yours are located all the way in Kisumu it might be hard to charge an amount even close to this!


I am not building to sell. It is an investment (retirement may be) I am 29yrs old and just want to secure my financial future

29 yrs too young to be building retirement home unless its the house you are going to be living in. why not buy more vacant plots in the area

Digi, it's never too early to start planning for retirement...how about if I want to retire at 45 or 50 and travel our beautiful country - I'll be able to do that knowing that at the end of the month, I'll have cash in my bank account. Oh, not to mention that I'll be my own boss.

Applause Applause Applauseswallow my words and give a bowsmile

It's okay @digi....I bet some people here on Wazua say they have projects kwa mdomo tu...why can't we all start posting our progress pics....! Anyway, planning another 6 units in about 2 years...land is secured. That'll give me 10 units and at least 250K every month in my pocket from rentals.....TAX FREE!
“None but ourselves can free our minds.”
- Bob Marley
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Penny-Stocker
#65 Posted : Wednesday, May 08, 2013 3:52:38 PM
Rank: Member

Joined: 10/31/2010
Posts: 154
chemos wrote:
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..


Yes, Kedowa stones!
“None but ourselves can free our minds.”
- Bob Marley
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gesowan
#66 Posted : Wednesday, May 08, 2013 5:05:39 PM
Rank: Member

Joined: 11/6/2010
Posts: 289
Penny-Stocker wrote:






















That's it for now folks! Kazi iendele hivyo hivyo!

great job when i grow up i want to be like you
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chemos
#67 Posted : Wednesday, May 08, 2013 5:09:33 PM
Rank: Elder

Joined: 11/28/2006
Posts: 1,799
Penny-Stocker wrote:
chemos wrote:
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..


Yes, Kedowa stones!



I have a quarry churning out those stones...
Ud be amazed they are used for buildings as far as Kakamega, bungoma.. the number of Shajanand trucks that ply the route tells it all..

Next time when building the 2nd investment let me know maybe i can supply you at a wazua rate...smile smile
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Penny-Stocker
#68 Posted : Wednesday, May 08, 2013 6:18:08 PM
Rank: Member

Joined: 10/31/2010
Posts: 154
gotieno wrote:
chemos wrote:
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..



Great Job penny stocker!. I like the workmanship and the pattern of the external masonry stones which is very similar to my 4 bed room maisonnete at Riat Hills (Kisumu). Completed the slab in Feb and just completed the walls for the upper floor. so far spent 2.2M on everything.Will take a 2 - 3 month break before embarking n the next phase- ring beam & wall plate and hope to do Decra roofing in October/November.


@gotieno......Congrats on the progress for your humble aboard! You'll ge there. The workmanship turned out really well and I hope yours turns out nice too.....I plan on putting mine up in about 4 years in Mamboleo as well....if I can find a decent piece of land at a good price!
“None but ourselves can free our minds.”
- Bob Marley
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  | | Edit by user: Wednesday, May 08, 2013 6:29 PM | Reason: Not specified
Penny-Stocker
#69 Posted : Wednesday, May 08, 2013 6:23:24 PM
Rank: Member

Joined: 10/31/2010
Posts: 154
kiriita 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.


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!


@kiriita.....Q1. I bought the land for 300K about 5 years ago.
Q2. I trade penny stocks hence the name....also, that's still pennies compared to some portfolios out there.
“None but ourselves can free our minds.”
- Bob Marley
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Penny-Stocker
#70 Posted : Wednesday, May 08, 2013 6:31:42 PM
Rank: Member

Joined: 10/31/2010
Posts: 154
XSK wrote:
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


@XSK.....muchas gracias amigo! It's been a lot of work
“None but ourselves can free our minds.”
- Bob Marley
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