The microwave is that TV that’s kept in the kitchen. Its normally used to heat food….am sure now we are on the same page. There are a few parallels that we can draw from this important gadget of the 21st century.
The other day I wanted to make tea using the micro wave. I pressed 3 minutes and by the time the bell rang, the tea was pouring from the cup. The following day I decided to make tea and this time I purposed to be more cautious. I pressed 1 minute, ten when the bell rang, I pressed another time and another last time. A total of 3 minutes. The tea was not hot enough. So what had happened? Isn’t 1*3 = 3?. Apparently, this is the same case with real estate investment. At times we are tempted to buy many small plots scattered in the “middle of nowhere”, hoping that a big institution or the Government will bring developments one day. Instead of buying two such plots, buy one NICE one and put it to productive use.
You can’t boil an egg using the microwave. Same case if you buy a plot with no title. You can’t use it to borrow cash from the bank and once you try to sell it, buyers will be very suspicious of you.
The microwave needs power. Even with your plot, you will need financial power to be able to develop it. This is improved through having a title deed to your land for use as a collateral when borrowing from the bank.
Hope my 3 points have convinced you to only buy land that has a title deed.
If you want to invest in real estate in Kenya this year, start by ordering a copy of my book, The ABC of REAL estate Investment in Kenya, to understand how to invest in real estate in Kenya.
To buy the book, please email email@example.com