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No tenants
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Wakora …I tried to enquire via some back post from kijiji August last year…
One shinny eye wasn’t able to provide all the documents… Niggro kept switching from kidogo to mdosi to members to urgggggg upus.com
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26k na unaona neigbourhood inakaa kibera
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kama rent ni less than 1 million per month io nyumba yafaa iuzwe 80 million, bei ikienda juu zaidi, halafu wamejenga beacon to beacon,
They are hiding the name of the apartment.
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Pesa inaoshwa. This is the game plan.
- Dirty cash given to a proxy, usually a lawyer who uses a shell company to build the property. Allow him to recover his cut from rent for one year.
- A useless post on social media declares the property for sale.
- Owner of dirty cash approaches bank for a loan to buy the property. A signed agreement with the “owner of property” has a clause that allows the buyer to use the same property as collateral to secure a loan for the purchase. Bank agrees to extend loan.
- Cash is wired to the shell company. Unbeknownst to the bank and others, the lawyer is a proxy director acting for owner of dirty cash.
- Rinse and recycle
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Niliona story huko X ati ya Nick Kasongo. Just looked at it again nikakumbuka hope story.
Such an insecure neighborhood cannot fetch those prices. In fact you can get a very nice house in a very secure neighborhood in Eastlands for that kind of money.
do you know the price of land in Roysambu
Overpriced, which is a big part of the problem. Tenant costs are directly proportional to land acquisition costs so if the landlord spends 50%+ of his development budget on buying land, the only realistic way to recover is to increase rent.
I don’t know anyone in their right mind who can buy this kind of property. If I had 100M cash I’d build my own rentals if at all inaniuma Sana.
For what it’s worth, I’d buy a preconstruction in Vancouver or Seattle with 50M deposit. The rest unaweka kwa mfuko. After building is complete, I sell off at possibly 10% gain. Rinse, repeat.
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