Whats Best.

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Nameberry1

Village Elder
#1
I ve been around here for a while now, and I think you all may be the only folks who have the insight I am looking for . my aunt owns a home in Kasarani she is 60 yrs old. with 1 daughter in high school. she also owns an undeveloped plot of land in the vicinity (worth3m) around where all manner of rentals are coming up (2bedrooms @20k per month) she asked me yesterday what's best for her.. if she should look for 1m kwa sacco n start construction on the empty plot ( she has half an M in savings) or sell it at 3m and build houses up to 4thfloor next to her house within her residence plot ( lots of homeowners are doing that around there. what do you all think? Thanking you in advance
 

Electronics4u

Village Elder
Staff member
#6
she also owns an undeveloped plot of land in the vicinity (worth3m) around where all manner of rentals are coming up (2bedrooms @20k per month
If she has clean titles, tell her to talk to the bank, ask them to build for her a 7 storey flat, each storey with four, 2-bed roomed houses. Those are 28 houses. She rents each at Ksh 20k per month which translates to roughly 0.5m a month or 6 million per year.
If the bank loans (Not Mortgage!) her 15m,(which I believe is enough to complete a modest 7 storey flat), she will probably pay a total 24m over the next 10 years. That's about 2.4m per year or Ksh 200,000 per month. Meaning her monthly income will be 300K and in ten years time it will have risen to about 700k.
Enough money to construct another flat without borrowing...
 

Purr_27

Village Elder
#7
If she has clean titles, tell her to talk to the bank, ask them to build for her a 7 storey flat, each storey with four, 2-bed roomed houses. Those are 28 houses. She rents each at Ksh 20k per month which translates to roughly 0.5m a month or 6 million per year.
If the bank loans (Not Mortgage!) her 15m,(which I believe is enough to complete a modest 7 storey flat), she will probably pay a total 24m over the next 10 years. That's about 2.4m per year or Ksh 200,000 per month. Meaning her monthly income will be 300K and in ten years time it will have risen to about 700k.
Enough money to construct another flat without borrowing...
Ati what 15m :eek::eek::eek:My friend , that money is not ennuf (or wat do you mean by modest) we wanted to build some 5 storey flats and we needed 50 million,
@Nameberry1 wht is the size of the plot ?
 
#10
Ati what 15m :eek::eek::eek:My friend , that money is not ennuf (or wat do you mean by modest) we wanted to build some 5 storey flats and we needed 50 million,
@Nameberry1 wht is the size of the plot ?
Westlands and kasarani differ in quality madam. But 15 m is abit on the lower side. Depending on the size, be prepared to spend not less than 1. 5-2m on each slab alone
 

Purr_27

Village Elder
#12
50 mirrion? ngai fafa. Hapo would be contractor angewagonga proper. There are some contractors who will give you a quotation and if you agree to it...utakuwa unajenga flats mbili; moja yako, ingine yake.o_O
Bt I guess these were to be apartments not flats N, and the land was 1/3 of an acre
hehe hio mlikuwa mgongwe roho safi. And who is we, may i ask?
We is my paps , and hes been in the construction for a very long..@Nameberry1 sorry ur listing is being derailed
 
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