Hello guys,
I lost my job due to corona and have not been able to secure another. During my employment, I managed to buy a parcel of land at the coast and built some rental units. These units have not been fully let for the last year(Two are rented out). My estimated valuation of the parcel is approximately Kshs.5M. I want to use it to as security to get me a truck which I will operate transporting goods. I am looking at either F1 or FRR could be new or near new. I do not have enough cashflows to support a loan application for such financing.
Is it possible to get a financier willing to enter into such an agreement so I can kickstart my life?
Ile karata atapigwa na hio shamba wacha na akumbuke hio lorry ni kitu inaisha value. Ajaribu kusave polepole akipiga biashara juu ukicheza hata loan ya benki inaeza fanya zote zinywe maji.
Well, well i started with 3.4M, as a betting agent opened my betting shop where Davis & Shirtliff used to own @RiverRoad.
Cant complain at all, my rent is 200k, got 10 workers but the biz makes things easir.
Got shop where betting addicts flood.
1.Kisii, Eld, S. Sudan and UG too.
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If you are smart upstairs …
Using land as security to buy a lorry does not sound like a good idea. Hiyo biz ya transport pia ikona challenges zake which you will discover after venturing in. Start the transport business by leasing a lorry so you understand the economics behind it before rushing to take a loan against the property. Do not risk the land to gamble on another business. You should only use the title deed as security to add more rentals.