Kama ni prime land Enda to a big supermarket chain Kama quickmart wa show wa open branch hapo ukule rent ya kutumia hio land
The most important question kwa hii thread. A kid may come here asking for advice na hata title haisomi jina lake.
of course jina ni yangu…hio si ni basics
Good. Sasa sikiza vile armchair investors in Kayole and Githurai watakwambia.
Loan on inherited land clearly shows you probably will never keep that land for long.
By the way just know it may take 9-12 months before even banks gives you a loan with land as collateral. When they do they will give you something small not what you expected. Simply because they have already repossessed so much land that their customers defaulted to pay. On auction of that land the struggle to get fair value or break even.
Look for other sources of income. Talk to real estate agents to see who can get you a client to lease it for commercial purposes.
:D:D
As people have said up there - a recession is looming. The last American economic melt-down did not get us properly as many African banks did not participate in the sub-prime mortgage scandals… But this one… It’ll hit us like a tonne of bricks!!
You’ve spoken like a true peasant.
Every rich man took a loan at some point, and continues to take loans.
What I can’t advise is starting with a loan. But if you are building on something already existing, no problem.
This may actually be a good thing. A recession will prevent banks from repossessing your land since they have nowhere to take it. Makes renegotiation of terms much easier.
But the business you are planning to open must be recession-proof or at least have a very strong foundation.
People get on their other side of the recession either very broke or very rich.
They took loans while rich. While able to afford those loans. For rich men its their businesses which take the loans,
It doesn’t work like that. You take loans to get rich.
Any business, small or big can take a loan. As long as its taking a sustainable amount.
There are even people who make money when things are looking down - take a run-down house when the market is tanking, buy loads of materials while the economy is down, wait a bit… when things improve, renovate, sell at a mark-up. It’s called flipping. But it requires a person with loads of “idle” cash… and a tonne of fiscal foresight and discipline… You also have to be a little sadistic to profit from other people’s misery… But that’s what “rich” people do the world over.
You’re likely to get way less than your 150m estimate in this depressed market. And it’s been depressed for a while, not just because of Corona. Sharks with cash are going round looking for desparadoes with prime land.
mbona uchukue loan na hauna shida? io shamba itakuliwa na bank very soon.
According to him he want to invest,.Shida ya huyu nikuwa hana pesa ya kufanya biashara anayo itamani and has to go credit way
Huyu ni admin anawachocha, don’t bother. People don’t discuss 150m assets on anonymous internet forums
Kama una pesa inbox nikupe title
wacha kuchezea elders akili. title huwa sacred na haipeanwi ovyo ovyo kama ile katiba ya Amos Wako ilikua inapeanwa kwa wamama sokoni. Nani alifanya valuation ya io shamba?
Bank haipeani loan based on collateral. Bank inapeana loan kama already uko na cashflow inaeza service io loan.
Ata ukiwa na shamba 150 m lazima uwe na income ya over 1 million per month ndio upewe loan ya 50m. Lazima shamba ifanyiwe valuation upya kwa cost yako. Huwe hauna deni na county government pia. io process yote itakucost over 5 million before upewe io loan, kama utapewa
There’s another way of raising funds with such collateral. With the bank, but not the conventional loan route. What’s the money for?