Home SK - Stocks, Property, Investment Chamas - Investment Groups BIZ - Small Business Soko - Market Wazua Life About Wazua
SIGN IN REGISTER
Thursday, Jul 18, 2019
Investor
We’re investing funds for profit. Join us and wazua!
LATEST DISCUSSIONS
KCB and NBK material announcement [168]
Housing Finance: HFCK a diamond in the rough [1908]
Kenya Airways...why ignore.. [13265]
KCB 2018 and Beyond [325]
Cytonn Tower vs Britam Tower [39]
BAT HY19 UP 25.5% AFTER TAX [3]
KenyaRe FY19 - FY23 (Both Inclusive) [299]
Mumias Sugar huge demand [2664]
Transcentury vs Kenya Power [59]
SGR officially dead. What next? [107]
Sunset Boulevard vs Everest Park [48]
Williamson Tea &, Kapchorua [37]
Bitcoin: Best app to use for transactions [7]
Speculating in cryptocurrencies: A rough approach [249]
Bitcoin: Does it have a future ? [1116]
 
Forum Jump








Welcome Guest Search | Active Topics | Log In | Register

2 Pages12>
Flipping Houses
Multipod
#1 Posted : Wednesday, January 20, 2016 12:25:55 PM
Rank: New-farer


Joined: 6/25/2015
Posts: 36
Location: Nairobi, Kenya
Is it possible to flip houses in Kenya? Either as an individual or as a chama? It seems like a good way to make money in the States.
Wazua Cocoon
#2 Posted : Thursday, January 21, 2016 1:40:58 PM
Rank: New-farer


Joined: 9/28/2011
Posts: 86
Yes
Multipod
#3 Posted : Thursday, January 21, 2016 2:26:39 PM
Rank: New-farer


Joined: 6/25/2015
Posts: 36
Location: Nairobi, Kenya
Elaborate. Are you talking from experience?
Jinomoja
#4 Posted : Thursday, January 21, 2016 3:04:51 PM
Rank: New-farer


Joined: 6/30/2015
Posts: 11
Which side of Kenya will you be buying the houses at below the market price?
Jinomoja
#5 Posted : Thursday, January 21, 2016 3:41:26 PM
Rank: New-farer


Joined: 6/30/2015
Posts: 11
You know, just after my question above, I've realised that in my neighbourhood (Nairobi West)there are a couple of very old houses that would probably fetch very nice profits if you bought and renovated them up to standards.
loice jelagat
#6 Posted : Thursday, January 21, 2016 6:05:25 PM
Rank: Hello


Joined: 1/21/2016
Posts: 1
Location: Nakuru
Flipping houses can possible if you have the right team, resources and information of the house you are about to purchase. Also when entering this kind of of business be prepared to meet the unexpected challenges.
Xymalos
#7 Posted : Thursday, January 21, 2016 7:40:12 PM
Rank: New-farer


Joined: 2/14/2015
Posts: 85
Location: Kenya
Multipod wrote:
Is it possible to flip houses in Kenya? Either as an individual or as a chama? It seems like a good way to make money in the States.


Instead of buy, renovate, and then sell, the better option may be to buy plot in good neighbourhood, construct and then sell the house. Houses/plots in old neighborhood like Nairobi West are too pricey to flip.
hardwood
#8 Posted : Thursday, January 21, 2016 9:55:41 PM
Rank: Elder


Joined: 7/28/2015
Posts: 8,922
Location: Montevideo, Uruguay
Xymalos wrote:
Multipod wrote:
Is it possible to flip houses in Kenya? Either as an individual or as a chama? It seems like a good way to make money in the States.


Instead of buy, renovate, and then sell, the better option may be to buy plot in good neighbourhood, construct and then sell the house. Houses/plots in old neighborhood like Nairobi West are too pricey to flip.


True. Buy 30m plot in runda or karen, use 20m to put up house and sell for 70m. Thats 20m profit.
Ecclesiastes 9:7 So go ahead. Eat your food with joy, and drink your wine with a happy heart, for God approves of this.
Mukiri
#9 Posted : Saturday, January 23, 2016 8:09:25 PM
Rank: Elder


Joined: 7/11/2012
Posts: 5,202
Best option for generation young, start small and grow into your dream house

Proverbs 19:21
sparkly
#10 Posted : Sunday, January 24, 2016 11:27:01 AM
Rank: Elder


Joined: 9/23/2009
Posts: 7,046
Location: Enk are Nyirobi
Mukiri wrote:
Best option for generation young, start small and grow into your dream house


Flipping = buying and selling for a profit
Life is short. Live passionately.
kaka2za
#11 Posted : Sunday, January 24, 2016 12:02:33 PM
Rank: Elder


Joined: 10/3/2008
Posts: 3,474
Location: Gwitu
sparkly wrote:
Mukiri wrote:
Best option for generation young, start small and grow into your dream house


Flipping = buying and selling for a profit


Isn't that the objective of all business transactions?
Mukiri
#12 Posted : Sunday, January 24, 2016 12:09:22 PM
Rank: Elder


Joined: 7/11/2012
Posts: 5,202
kaka2za wrote:
sparkly wrote:
Mukiri wrote:
Best option for generation young, start small and grow into your dream house


Flipping = buying and selling for a profit


Isn't that the objective of all business transactions?

@Sparkly jst like to play 'devil's advocate'. Generate traffic into Wazua.

This is what I meant. A youngling can only afford a mortgage of a studio apartment. Take it. Later sale that house for a profit smile Hopefully he now can afford mortgage for a one bedroomed. Take it. Sale for a profit smile By now he'll have grown salarywise, savings-wise etc and can afford a one bedroom and a plot. Take it... You get the drift

Proverbs 19:21
sparkly
#13 Posted : Sunday, January 24, 2016 4:42:22 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,046
Location: Enk are Nyirobi
Mukiri wrote:
kaka2za wrote:
sparkly wrote:
Mukiri wrote:
Best option for generation young, start small and grow into your dream house


Flipping = buying and selling for a profit


Isn't that the objective of all business transactions?

@Sparkly jst like to play 'devil's advocate'. Generate traffic into Wazua.

This is what I meant. A youngling can only afford a mortgage of a studio apartment. Take it. Later sale that house for a profit smile Hopefully he now can afford mortgage for a one bedroomed. Take it. Sale for a profit smile By now he'll have grown salarywise, savings-wise etc and can afford a one bedroom and a plot. Take it... You get the drift


You don't have time to live in the house if you are flipped ng it.
Life is short. Live passionately.
quicksand
#14 Posted : Monday, January 25, 2016 10:20:48 AM
Rank: Veteran


Joined: 7/5/2010
Posts: 2,013
Location: Nairobi
Mukiri wrote:
kaka2za wrote:
sparkly wrote:
Mukiri wrote:
Best option for generation young, start small and grow into your dream house


Flipping = buying and selling for a profit


Isn't that the objective of all business transactions?

@Sparkly jst like to play 'devil's advocate'. Generate traffic into Wazua.

This is what I meant. A youngling can only afford a mortgage of a studio apartment. Take it. Later sale that house for a profit smile Hopefully he now can afford mortgage for a one bedroomed. Take it. Sale for a profit smile By now he'll have grown salarywise, savings-wise etc and can afford a one bedroom and a plot. Take it... You get the drift

Not a good model for flipping...to make a profit, you need to mark up the base price plus all the charges and interest rate..then time. The market prices will not have increased that drastically to make your selling price which allows you to draw a profit to be viable. This thing of houses being 'hot cakes' is greatly exaggerated. In addition, there are real risks. Inflation can hit the mid twenties or some one can play with money circulation like it happened a few years ago and you find yourself stuck with the mortgage and the bank hiking your rate to 27 per cent. This is playing with fire. This is Kenya.
Robinhood
#15 Posted : Monday, January 25, 2016 11:30:50 AM
Rank: Elder


Joined: 12/11/2008
Posts: 2,306
This can only suceed if you target auctioned houses. The law says you cannot sell an auctioned house at less than 75% of market value, which means you can buy at this level - or less - and sell at market value

PS - I am no expert in this
Great men are not always wise, neither do the aged understand judgement...
Mukiri
#16 Posted : Monday, January 25, 2016 1:39:04 PM
Rank: Elder


Joined: 7/11/2012
Posts: 5,202
quicksand wrote:
Mukiri wrote:
kaka2za wrote:
sparkly wrote:
Mukiri wrote:
Best option for generation young, start small and grow into your dream house


Flipping = buying and selling for a profit


Isn't that the objective of all business transactions?

@Sparkly jst like to play 'devil's advocate'. Generate traffic into Wazua.

This is what I meant. A youngling can only afford a mortgage of a studio apartment. Take it. Later sale that house for a profit smile Hopefully he now can afford mortgage for a one bedroomed. Take it. Sale for a profit smile By now he'll have grown salarywise, savings-wise etc and can afford a one bedroom and a plot. Take it... You get the drift

Not a good model for flipping...to make a profit, you need to mark up the base price plus all the charges and interest rate..then time. The market prices will not have increased that drastically to make your selling price which allows you to draw a profit to be viable. This thing of houses being 'hot cakes' is greatly exaggerated. In addition, there are real risks. Inflation can hit the mid twenties or some one can play with money circulation like it happened a few years ago and you find yourself stuck with the mortgage and the bank hiking your rate to 27 per cent. This is playing with fire. This is Kenya.

Yes, it is hard, but doable. Otherwise how will a guy making minimum wage ever end up owning his/her own house, debt free?

Like you say, this is Kenya.. times are hard, and tough times call for tough measures.

Proverbs 19:21
quicksand
#17 Posted : Monday, January 25, 2016 4:58:55 PM
Rank: Veteran


Joined: 7/5/2010
Posts: 2,013
Location: Nairobi
Mukiri wrote:
quicksand wrote:
Mukiri wrote:
kaka2za wrote:
sparkly wrote:
Mukiri wrote:
Best option for generation young, start small and grow into your dream house


Flipping = buying and selling for a profit


Isn't that the objective of all business transactions?

@Sparkly jst like to play 'devil's advocate'. Generate traffic into Wazua.

This is what I meant. A youngling can only afford a mortgage of a studio apartment. Take it. Later sale that house for a profit smile Hopefully he now can afford mortgage for a one bedroomed. Take it. Sale for a profit smile By now he'll have grown salarywise, savings-wise etc and can afford a one bedroom and a plot. Take it... You get the drift

Not a good model for flipping...to make a profit, you need to mark up the base price plus all the charges and interest rate..then time. The market prices will not have increased that drastically to make your selling price which allows you to draw a profit to be viable. This thing of houses being 'hot cakes' is greatly exaggerated. In addition, there are real risks. Inflation can hit the mid twenties or some one can play with money circulation like it happened a few years ago and you find yourself stuck with the mortgage and the bank hiking your rate to 27 per cent. This is playing with fire. This is Kenya.

Yes, it is hard, but doable. Otherwise how will a guy making minimum wage ever end up owning his/her own house, debt free?

Like you say, this is Kenya.. times are hard, and tough times call for tough measures.

I don't dispute that. However the OP meant selling houses as an end in itself for profit, just like any other biz ..as opposed to ownership via upgrades from small to desirable. As a profit model, flipping mortgage backed houses would be too would be..you would starve.
Mukiri
#18 Posted : Monday, January 25, 2016 9:26:06 PM
Rank: Elder


Joined: 7/11/2012
Posts: 5,202
quicksand wrote:
Mukiri wrote:
quicksand wrote:
Mukiri wrote:
kaka2za wrote:
sparkly wrote:
Mukiri wrote:
Best option for generation young, start small and grow into your dream house


Flipping = buying and selling for a profit


Isn't that the objective of all business transactions?

@Sparkly jst like to play 'devil's advocate'. Generate traffic into Wazua.

This is what I meant. A youngling can only afford a mortgage of a studio apartment. Take it. Later sale that house for a profit smile Hopefully he now can afford mortgage for a one bedroomed. Take it. Sale for a profit smile By now he'll have grown salarywise, savings-wise etc and can afford a one bedroom and a plot. Take it... You get the drift

Not a good model for flipping...to make a profit, you need to mark up the base price plus all the charges and interest rate..then time. The market prices will not have increased that drastically to make your selling price which allows you to draw a profit to be viable. This thing of houses being 'hot cakes' is greatly exaggerated. In addition, there are real risks. Inflation can hit the mid twenties or some one can play with money circulation like it happened a few years ago and you find yourself stuck with the mortgage and the bank hiking your rate to 27 per cent. This is playing with fire. This is Kenya.

Yes, it is hard, but doable. Otherwise how will a guy making minimum wage ever end up owning his/her own house, debt free?

Like you say, this is Kenya.. times are hard, and tough times call for tough measures.

I don't dispute that. However the OP meant selling houses as an end in itself for profit, just like any other biz ..as opposed to ownership via upgrades from small to desirable. As a profit model, flipping mortgage backed houses would be too would be..you would starve.

Even from that perspective, there's no 'starvation'. Unless you are the typical Kenyan, who believes in a salary.

People here have done one two, deals that seal their fate. An example are tenderpreneurs, even some Wazuans who trade stocks. One deal,just one good deal; and you are set for life. Why not flipping houses?

I think the primary difference between me and you, is that you view the glass half-empty, while I see so much potential in filling it. Nothing good comes easy.

Proverbs 19:21
jamessmathews
#19 Posted : Sunday, February 07, 2016 9:19:18 PM
Rank: Hello


Joined: 2/7/2016
Posts: 2
This money is directly generated from traditional casinos, racetracks, gaming terminals, lotteries and scratch tickets. Bingo and charities are also very popular in Ontario, Investment and money. Each year, Toronto’s leading medical centers host lotteries in an effort to raise funds for research and equipment.
tony stark
#20 Posted : Wednesday, June 26, 2019 11:58:01 AM
Rank: Veteran


Joined: 7/8/2008
Posts: 830
Mukiri wrote:
quicksand wrote:
Mukiri wrote:
quicksand wrote:
Mukiri wrote:
kaka2za wrote:
sparkly wrote:
Mukiri wrote:
Best option for generation young, start small and grow into your dream house


Flipping = buying and selling for a profit


Isn't that the objective of all business transactions?

@Sparkly jst like to play 'devil's advocate'. Generate traffic into Wazua.

This is what I meant. A youngling can only afford a mortgage of a studio apartment. Take it. Later sale that house for a profit smile Hopefully he now can afford mortgage for a one bedroomed. Take it. Sale for a profit smile By now he'll have grown salarywise, savings-wise etc and can afford a one bedroom and a plot. Take it... You get the drift

Not a good model for flipping...to make a profit, you need to mark up the base price plus all the charges and interest rate..then time. The market prices will not have increased that drastically to make your selling price which allows you to draw a profit to be viable. This thing of houses being 'hot cakes' is greatly exaggerated. In addition, there are real risks. Inflation can hit the mid twenties or some one can play with money circulation like it happened a few years ago and you find yourself stuck with the mortgage and the bank hiking your rate to 27 per cent. This is playing with fire. This is Kenya.

Yes, it is hard, but doable. Otherwise how will a guy making minimum wage ever end up owning his/her own house, debt free?

Like you say, this is Kenya.. times are hard, and tough times call for tough measures.

I don't dispute that. However the OP meant selling houses as an end in itself for profit, just like any other biz ..as opposed to ownership via upgrades from small to desirable. As a profit model, flipping mortgage backed houses would be too would be..you would starve.

Even from that perspective, there's no 'starvation'. Unless you are the typical Kenyan, who believes in a salary.

People here have done one two, deals that seal their fate. An example are tenderpreneurs, even some Wazuans who trade stocks. One deal,just one good deal; and you are set for life. Why not flipping houses?

I think the primary difference between me and you, is that you view the glass half-empty, while I see so much potential in filling it. Nothing good comes easy.


I beg to differ and I agree with people saying there is no room for flipping houses.
I think there are several areas around Nairobi that are "undervalued" by the mido crass( Ngumo area, woodley, Langata etc) are massively undervalued because they are old houses.

The apartment living hangover is about to hit and anyone around Kile, Kilimani and all these places with ridiculous high rises apartments going for 25M and above are feeling the pinch. No tenants willing to pay ridiculous rents because of over supply but quality of life is not as good.

The old estates still have a lot of value, open areas for kids to play, security in most of this areas which used to be an issue has massively improved. That's why flipping is the next logical step for most of theses estates. The original owners are dying, retiring and moving on out and the new owners want modern specs and looking at the prices people are paying for apartments in Kile, Kili, hurlingham areas you can easily buy a house in Ngummo for 14-16 M invest 2-4 M increasing value and then sell for over 25M.

What you really need down is steady income to pay mortgage and downpayment and the 2-4M for renovations and you are in business.

You can make 4-10 M in a period of 4-6 months if you can buy renovate and sell and you also get your principal.

I can already see this happening in a few of the estates but the business is small and mainly being done by young smart contractors!

Flipping is happening and improving!


Users browsing this topic
Guest (2)
2 Pages12>
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Home | . .. Investor | .. . Groups | .. . SME | . . . Market | .. . Club SK | . ..... About Wazua | . .. Search | . ..Sitemap | . ..Support | . ..Disclaimer | . ..Privacy Policy | . ..Terms of Use | . .. Contact Us
Copyright © 2019 Wazua.co.ke. All Rights Reserved.