Residential flats, How to get financier + ensure financier doesn't screw you!

[Nattydread]

@bouss

If u r getting shafted on a joint venture I think that means ulitumia lawyer kurutu. Issue is most people cut corners when coming up w/contracts coz all they r thinking of is the happy-path.

True!!

[Tia_Dalma]

@Nattydread

True!!

Lawyers in Kenya. Worst nightmare in contracts. They can’t be insurance!

A lawyer Errors and Omission cover will not cover getting back what you invested. Atakama ni wakili wa Oaths, Notary, etc. Anyway, si wakili wengi wakona E & O insurance in Kenya

[choclatemonk]

@Cantilever

@choclatemonk Ever heard of something called joint real estate ventures? Well, I’ve never been an advocate of rentals, especially when you’re relying on secondary funding. It usually 10 years plus just to break even on your rental unit investments, when you use standard concrete and stone building materials. The only advantage here is the security attached to rentals.

If you have a prime plot somewhere, my best advice would be hooking up on a joint venture with financiers like Shelter Afrique and Fusion Capital. They’ll inject hundreds of millions, and possibly even billions on a feasible project, sell and give you your cut (which is usually the appreciated cost of land+Cost of land as a contribution to project cost on the final profits made). You can then take your cash and reinvest again in another joint venture not only as a land owner, but also as a partial funder. Ultimately, you’ll be able to build your own rental units…but by then, I assume, you’ll be addicted to developing and selling

Are you saying, look for cash, inject it into a real estate venture? If yes, shida ni, hiyo cash hakuna. what’s there is a prime plot, that is developing into a bush forest… i m just looking to develop it, ata kama the revenue will not be directed my way for a number of years while its servicing the repayments.
Can real estate ventures finance the project, then when revenue streams in, they use it to repay the cost of the project?

[choclatemonk]

@Mzee mzima

Again, mimi mahali naskiaga loan naskia kua mgonjwa. They are very expensive. What do you want an asset or cash flow every say end month? There are other investments huku inje which pay better and less hustle, infact you work in terms of hour per week. Na ata izo hours it’s not you who do it. You purchase something for say 1m and by the third month, pesa imerudi sasa ni wewe kukamua pesa kamu kamu, but niggaz just don’t know!

Lakini izo ni chini ya maji, wakenya mnaeza haribu kitunguu yangu ya future.

Very insightful and a load of help… asante sana

[choclatemonk]

@wheelz

Rentals work for some market segments.

You’ll have to get proper feasibility studies to be done. It’s not just because it worked for your neighbors so it should work for you.

After feasibility you need to engage a professional team. There are companies that can help you set up a professional consultant team Engineers/Architects/ Quantity Surveyors. Project Managers…

Then you shop for a finance partner once you have all these cost estimates in place. You’ll need 20% of the cost estimate as your project contribution & enough cash flow to repay the interest accrued on the loan during the construction period.

If you do it with a good team, you’ll realise fast completion. A 4 storey flat in 6 months. But that’s just the first part.

I can give you contacts of guys we’ve used for various projects.

liamrashid254@gmail

[Jakoyo]

na ile share ya KRA ?

[wechary]

The Following Is An Axionometry Of a proposed apartment on A parcel approximately 1.5ha,Project Cost Estimate is 180M.Think Big Mayn.

[Cantilever]

@wechary

The Following Is An Axionometry Of a proposed apartment on A parcel approximately 1.5ha,Project Cost Estimate is 180M.Think Big Mayn.

Who did this? This is a huge fail. So many things wrong with this apartment building…starting with the cost and design

[wechary]

@Cantilever

Who did this? This is a huge fail. So many things wrong with this apartment building…starting with the cost and design

I did The Above Design Which are to be constructed on a parcel in three Wings, Please Outline wat is wrong with the Design,Instead stop Uttering Bulshit Which is Popping Bulshit.

[wechary]

@wechary

I did The Above Design Which are to be constructed on a parcel in three Wings, Please Outline wat is wrong with the Design,Instead stop Uttering Bulshit Which is Popping Bulshit.

[ATTACH=full]54005[/ATTACH]

[choclatemonk]

sasa, as per the reason i put this thread up, wewe ushajenga… mimi ndio najaribu… natafuta financier + contractor, repayment based on returns from the rentals + moratorium period of kedo 2-3 years…

[Cantilever]

@wechary

[ATTACH=full]54005[/ATTACH]

1. Render is exteremely poor

2. A roof pitch of 45 degrees when you clearly don’t have any liveable spaces on the attic is a waste of money

3. No shading on all the top floor balconies.

4. There are irregular valleys on that roof that will obviously start leaking a couple of months down the line. The trussing process itself will be a serious headache when you get to its level on site.

5. Part of that fence is floating in the air

6. Going by proportional scaling, I can tell that the railings on your balconies are all laid wrong. The gaps are too wide for safety. Have you considered that some of these occupants are families with toddlers?

7. Windows on the potruding side walls need work.

[Nattydread]

@wechary

The Following Is An Axionometry Of a proposed apartment on A parcel approximately 1.5ha,Project Cost Estimate is 180M.Think Big Mayn.

ArchiCAD is a curse to those who do not know why buildings are built. If this structure is on 1.5 ha with ample space on all four sides, it ought to have huge windows instead if meters of masonry all aroud with tiny windows opening from who knows where. I see her the dark, dingy, musty rooms of Kayole, with angled walls that the average fundi cannot execute properly. Plastering, fitting and tiling will be technical nightmares!!

What are the functional benefits of all these lines and complex roofing structure?? Did you consider optimal use of daylight and solar energy efficiency in sunny Kenya?

Frivolous decorations and lines are so easy to place on the PC monitor, but result in horrible dwellings on the ground.

[choclatemonk]

Eh… We are deviating from the reason this post was put up in the first place, maoni being looked for is for the one who is strating in this… how to get financing, what to avoid etc…

[Cantilever]

@Nattydread

ArchiCAD is a curse to those who do not know why buildings are built. If this structure is on 1.5 ha with ample space on all four sides, it ought to have huge windows instead if meters of masonry all aroud with tiny windows opening from who knows where. I see her the dark, dingy, musty rooms of Kayole, with angled walls that the average fundi cannot execute properly. Plastering, fitting and tiling will be technical nightmares!!

What are the functional benefits of all these lines and complex roofing structure?? Did you consider optimal use of daylight and solar energy efficiency in sunny Kenya?

Frivolous decorations and lines are so easy to place on the PC monitor, but result in horrible dwellings on the ground.

Agreed. This is definitely a quack design

[FaithIsHope]

@choclatemonk

…w you like Matiba? Like if you get to the edge and cannot make the repayments, how can you ensure that from the onset of the project the financier will not Send auctioneers or repossess the land.
At the end of the day, that you don’t lose that Land, you want to keep Ancestral land untouched.
Maoni? What to do? Who to talk to?
Mbisha in my head
http://www.patauza.co.ke/images/houses/21632-1-house.jpg

Hello, did you get any help on your Question on Finacier + Constructor? Im in the same situation pls Help, Thank You