The past Recently I met a 50 something-year-old lady who has been living in Ruiru since the year 2000. This is her story in brief. Let's call her Mary. Mary, then in her early 30s bought two 1/4 acre plots in Ruiru in the year 2000 for Kshs 60,000 each. The following year, she sold one plot for Kshs 80,000 making a 33% profit. She then managed to buy several more plots in the area. It was a coffee...
A right/competitive price can be achieved when the developer gets funding using cheap money borrowed from the Government, pension funds, or foreign banks and extends the same discount to the buyers. Another cheap source of money is off-plan sales. If one developer gets a loan at say 4% and another at say 14% and they both want a 20% profit, then one developer will have to sell his property at a 24%...
I have lived and worked in Botswana. I have been in your shoes and I know where it pinches. Investing in Real Estate is not easy for anyone. It’s not like buying shares or Government bonds. Investing when away can pose an additional challenge. Experiencing the product Before you buy a shoe or a shirt, the normal thing is to try them on to see if they fit. Buying real estate is not any...
Recently a friend told me about some affordable plots in the greater Ruiru area, about 1km from Thika superhighway and near Ruiru Sports club. What caught my attention is the price of the plots at Kshs 800,000 per plot. These are about 9,000 plots in a gated estate that have been released into the market in the recent past. The estate has some "beach plots" I have also learned about more residential...
In part 1 of this series we talked about living your dream during retirement. We also said that you shouldn’t finance this dream using your pension. Click here to read the article. Let’s see how to finance this dream. A wise kikuyu man once said that when you have a need, you take hold of your own goat and either slaughter it or sell it. We are assuming that you are a rational investor in real...
"Sometimes people don't really know how to assess their future needs"Charlotte Dougherty. Certified financial planner. Have you been thinking, either actively or passively, about retirement? Would you like a few real estate suggestions to be better prepared for the next phase? Retirement is the “last phase” of your life.Valuer Kariùki, MRICS Follow your dreams Do you dream of...
Material blue gum poles 3*2 timber 5*6 timber 10 sheets marine boards 6*1 timber 75kgs 3" nails 300 metal trappers In week 7 the contractor started preparing for the slab- to be done in week 8 they started by placing the 3*2 poles on the shortest side of the room. They added the poles as a support structure. For sides that would require minimal plaster, we placed marine...
Week 5&6: Materials Stone- yellow natural stone- 600ft Yellow machine stone- 2000ft Rock sand- 22t lorry was not completed Cement 30 bags DPC 2 rolls In week five we started the walling of the house. We slightly changed the design by removing the pantry. In addition we decided to incorporate 3 courses of bush-cut zero joint stones in the first 3 layers of the house. We...
I had a conversation with a furniture and interior designer about business growth. She has made some great furniture pieces for my house. Her business is called Tira studio and she has a showroom on Ngong road. Check out their website https://www.tirastudio.co.ke/ for their end of year clearance sale on timeless furniture. Tira Studio Business secret She told me of a business secret that she...
I had a conversation with a Kalenjin friend about investing. His views on investing contrasts with mine so much. Before I break down the facts and myths, I wish to tell you a short story. A story about a young bride A young bride was seen by her husband breaking the legs of a chicken before placing it in the oven to grill instead of placing it whole. Her husband inquired the reason for that and she...