There are several ways and places one can explore while planning to get funding for a real estate project; – Personal saving – Financial institutions – Pre-sales/Off-plan sales – Joint Venture – Contractor financed – Offshore funding Personal saving/Owner funding This...
First published on June 15, 2014 The first time I said this statement in the presence of my wife, she looked at me stunned and she refuted my claim. I went on to explain my point. You see, if you work for a bank, you have many privileges that the rest of us don’t. Take an example of buying a 2 bedroom apartment off Mombasa road or in Ruaka, a few kilometers from Village Market and near Runda Estate...
Post first published in July 9, 2014 I normally charge for this information but today am going to let the cat out of the bag. I got a phone call from my childhood friend’s mom. She asked me, “my son, where are people buying land?” I gave her several options and while I talked, she told me, “ you need to come and talk to the church members about these options.” She went ahead to mention the...
DEFINITIONS (Section 2) 1.1 “contribution” means monetary and non-monetary contribution including- domestic work and management of the matrimonial home; child care companionship management of family business or property; (See definition below) farm work; 1.2 “family business” means a...
I have always heard of a place in Nairobi’s Eastlands known as Lucky summer. I had heard that there were some high rise flats and some people I know had invested there. All this was a myth until I went to value one of those flats. Let me give you a brief background of this area. The land was initially bought by a group of farmers called Lucky summer, from Githunguri, Kiambu County, hence the name of...
Ever since Jane Wangui and her husband bought their home in Lower Kabete, Nairobi, it has been a cat-and-mouse game with the seller. For seven years, they have pursed the developer to hand over the land titles, to no avail. They have hired lawyers to follow up on the case, but “they vanish along the way”. “We don’t know why these lawyers disappear,” she says. Together with 11 buyers, they each...
Description Cost per month Monthly total Cost per year Sub total Total Cumulative Initial cost 1a Purchase a “new” ex Japan car. 1,000,000 1b Install car tracking system, sound and rims 80,000 Running costs 2a Fuel of Ksh 500 per day to go to work and back 6 days a week, 4weeks a month 500*6*4 = 12,000 12,000* 12 = 144,000 2b Parking fees at Ksh 300 per day 6 days a...
First published in 2014 In year 2014 alone, several companies have closed shop or fired massive numbers of employees in Kenya. Colgate Cardbury’s Eveready Unilever Tata Chemicals Cooperative Bank In the Nyayo days, the IMF, World Bank and other international organizations would weigh in on the government to retrench civil servants as pre requisites for funding. The Uhuru administration is...
Five years ago, I worked in Thika as a valuer. I wanted to be acquainted to all the developments in this fast growing town. One day I decided visit Thika Greens. Then, the only buildings in the compound was the site office and 3 model houses. Then ¼ acre plot was going for Kshs 2 Million. I was very skeptical since at the same time, there were about another 5 golf estates coming up in the country. I am...
Jane, (Not her real name) called me last week and told me that she had been referred to me by her elder brother for advice on real estate. Jane was very excited about the 3% mortgage and car loans that the Government is giving to public officers. In fact, when she called me, she was at a developers office ready to put down a down payment for an apartment off Mombasa road. After a small chat with her, she...