Saw an ad about them selling a studio at 650k for member and 850 for non members. It is located in muranga town.
Apparently one unit is 224 sq feet?!
Iv never heard of this sacco. Anyone with info on them?
I know them…these ones I know in and out in Murang’a and Kagio. Been to some of their projects although I didnt buy any property, but some of our grp members bought. They are also in Nyahururu, visited their office there once to view sm property using their van. I loved their sales team, looked hospitable and very beautiful gals…uwesmake would benefit alot there
So in other words they are legit? Their brochure has so many spelling mistakes one might think they’re a briefcase company
Very legit. You must be in Murang’a to have picked this company, coz this is where they are based, maybe I have met you. Next time you are in their office ask about Johnie ‘Muraihu’, one of our grp members who is their client.
Didn’t you say the other sacco was legit too in the other thread?
Saw their ad on olx. Never been to muranga
Following closely, these companies are becoming so many. Kageni still advertising them
How much rent would you get from a bedsitter in some of these places?
And is there a demand for such type of houses in those areas in the first place?
May not be a prudent investment if it’s less than 8k per month me thinks.
I think about 7k. You make back your cash in 7 years and the value of the property goes up in those 7 years.
Really are you sure?
I am not very conversant with muranga real estate but I know of a bigger town like nyeri and bedsitters go for 3-5k.
They go for 4-5k in muranga from what I can see on the internet
That’s 60k a year and if you buy at 850k then takes about 14years to repay and even after you factor in rent increases (which not much in such places going by what I’ve observed in Nyeri) it still goes to over 10years plus.
Is legit supposed to be mutually exclusive.?
Just that you’re the only one who seems to find these deals okay. Not hitting at your character. Just had to point it out.
If you buy at 650 it will take about ten years to recoup
I find that deal too good to be real. 224 sq feet for a studio? Aii .
Am not a financial expert in any way shape or form but can’t you get almost similar returns from government bonds or is it treasury bills :rolleyes:
Yes you can bro but the other angle in addition to rental income is that the property value in ten years will be much more plus rent gives you monthly returns.
I believe in having more than one investment vehicle.
650K on a bed sitter in Murang’a makes little sense now. It will take a lot of time for you to recoup your investment. Most people in Murang’a are not renting, the supply is not that much, therefore there is a realistic chance of your Bedsitter staying empty for several months. Lazima kuna “service charge” ya security na garbage ya kulipia - have you factored that in your returns?
Na an asset appreciation in value is good only if it is easily disposable. After all that agony in 15 plus years (to recover your seed capital, baing a landlord for low income households is not easy, you will definitely not hire a caretaker) who will you sell it to? Take case studies of bed-sit units Uriithi Sacco has sold to people. If you are not consuming it yourself, the utility to be gained is very low. It is hard to move in the secondary market as well.
I am not saying it is a bad investment, but it is underwhelming compared with other investment options available. You should not diversify for the sake of diversifying. The fundamentals must add up.
Couldn’t agree more!