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Skip to content BUSINESS :REAL ESTATE INVESTING,HOW TO MAKE MONEY,AVOID SCAMS AND BUILD WEALTH · BLACK HOT FIRE NETWORK SHOW'S

• 0:01
  Speaker 1: Greetings and salutations, messages and charades to you from all
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• 1:42
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• 2:16
  Speaker 6: Good afternoon, good evening, good morning, whatever the time is
• 2:22
  Speaker 6: on your end, whatever the time, you're going to be
• 2:24
  Speaker 6: catching this amazing episode of today. of business with jobi
• 2:28
  Speaker 6: karibuni sana hope you guys are doing amazing today and
• 2:31
  Speaker 6: welcome to yet another beautiful thursday conversation where we talk
• 2:36
  Speaker 6: nothing but about making the money and of course karibuni
• 2:41
  Speaker 6: sana hope you guys are having a wonderful morning and
• 2:43
  Speaker 6: wishing you a beautiful day 12 minutes past the top
• 2:45
  Speaker 6: of the hour my name is jobi to those who
• 2:47
  Speaker 6: are here for the first time returning listeners and audience
• 2:51
  Speaker 6: on all our streaming platforms. And Karibuni, today we're going
• 2:55
  Speaker 6: to be talking about real estate investing, how to make money,
• 3:00
  Speaker 6: how to avoid scams, the risks you need to actually avoid,
• 3:03
  Speaker 6: and actually at the end of the day, where the
• 3:06
  Speaker 6: wealth comes from as you actually venture or get yourself
• 3:11
  Speaker 6: into the real estate investing. Last week I said we're
• 3:14
  Speaker 6: going to be taking a different turn apart from all
• 3:17
  Speaker 6: the conversations we've been talking about, which I do believe
• 3:20
  Speaker 6: we've dealt with minimal businesses that actually you can venture into.
• 3:25
  Speaker 6: If you talk about farming, if you talk about, let
• 3:29
  Speaker 6: me actually look into a couple of you. We've mentioned
• 3:31
  Speaker 6: actually a bunch of, you know, conversations that actually where
• 3:37
  Speaker 6: if you invest your money, you can get, you know,
• 3:41
  Speaker 6: your profit super quick. We've talked about, actually, I've talked
• 3:44
  Speaker 6: about also water pumping, I've talked about grain milling. I've
• 3:49
  Speaker 6: talked about milk production. I've talked about cows. I've talked
• 3:53
  Speaker 6: about food processing, some of the bigger, bigger businesses that
• 3:58
  Speaker 6: you can actually put yourself into. We've talked about many
• 4:02
  Speaker 6: other more, you know, talking about farming and so many
• 4:06
  Speaker 6: other stuff. And I said, we're going to take a
• 4:08
  Speaker 6: different turn. You know, assuming the profit you've made from
• 4:11
  Speaker 6: farming now and you're making a huge amount of money, um,
• 4:16
  Speaker 6: How are you looking for to expand your businesses? So
• 4:20
  Speaker 6: you're going to be actually getting into so much more
• 4:22
  Speaker 6: of this. And today's conversation, you're going to be looking
• 4:26
  Speaker 6: into real estate. And then you're going to get into education.
• 4:31
  Speaker 6: You're going to get into other more bigger, bigger, bigger businesses. Entertainment,
• 4:36
  Speaker 6: because it's a whole other, literally, again, business of its own.
• 4:40
  Speaker 6: But it depends how you look at it, literally. We're
• 4:43
  Speaker 6: going to get into restaurants, you know. and all that,
• 4:47
  Speaker 6: and all that, and financial services, and all that, fashion, beauty.
• 4:52
  Speaker 6: As we continue, as we see where these episodes are
• 4:56
  Speaker 6: going to literally take us. But yes, Makolap, because today
• 5:01
  Speaker 6: I have a lot to actually share. I have a
• 5:04
  Speaker 6: couple of videos that I want to share from people,
• 5:08
  Speaker 6: especially from Africa, and specifically I'd say Kenya. I love
• 5:11
  Speaker 6: to share from my very own country because, hey, I'm home,
• 5:16
  Speaker 6: and I bet it's best if you hear it from
• 5:20
  Speaker 6: where I am, the people that are here on the ground,
• 5:23
  Speaker 6: and I can relate to so many things as we
• 5:25
  Speaker 6: expand the conversation, literally, as we talk about the scamming,
• 5:29
  Speaker 6: because so many people, when you talk about real estate,
• 5:31
  Speaker 6: so many people have been scammed, because real estate, again,
• 5:34
  Speaker 6: the first thing when you talk about real estate is
• 5:36
  Speaker 6: owning a land. You need to have a piece of land,
• 5:39
  Speaker 6: you know, that is, again, when you go back to
• 5:42
  Speaker 6: last week's conversation, I said before you invest in any business,
• 5:46
  Speaker 6: you have to check or familiarize with the location. Trace
• 5:52
  Speaker 6: of location is very, very important. Experience is very important
• 5:56
  Speaker 6: and so many other things. But yes, today as we
• 5:58
  Speaker 6: get into actually the real estate business, we're going to
• 6:01
  Speaker 6: be looking at so many things. There are four different
• 6:04
  Speaker 6: types of real estate actually businesses or how you can
• 6:09
  Speaker 6: actually get yourself into these four different type of real
• 6:14
  Speaker 6: estate business, how they can make you money, the risk
• 6:19
  Speaker 6: they come with, and all that. But let me actually
• 6:24
  Speaker 6: take you a little bit into my research. Again, like
• 6:27
  Speaker 6: I said, everybody wants to own land, build a house,
• 6:29
  Speaker 6: or become a landlord. But how many people actually understand
• 6:33
  Speaker 6: the real estate business before investing their hard-earned money? And
• 6:37
  Speaker 6: for me, think again, like I said, since I've taken
• 6:40
  Speaker 6: you through all these series of farming and all that
• 6:44
  Speaker 6: assume again you're taking your hard money hard hard earned
• 6:50
  Speaker 6: money uh from the farming and now you're expanding because
• 6:53
  Speaker 6: you said also you're not you know you're not trying
• 6:56
  Speaker 6: a business as much as there is you know trial
• 6:58
  Speaker 6: and error especially in things like farming and all that
• 7:01
  Speaker 6: you're not trying to you're not trying to put yourself
• 7:03
  Speaker 6: into something that you don't want to see it grow
• 7:06
  Speaker 6: you're doing zero work if you're trying to put yourself
• 7:08
  Speaker 6: into something and you don't want to see it grow
• 7:10
  Speaker 6: or expand into something even completely bigger. But yes, some
• 7:13
  Speaker 6: people make millions from property, while others lose their life
• 7:17
  Speaker 6: savings because they bought land without checking ownership, which is
• 7:20
  Speaker 6: very important, especially in Africa, these big scams of land ownership.
• 7:26
  Speaker 6: I've seen so many people cry, and videos I have
• 7:29
  Speaker 6: are going to break that down too. Many people actually
• 7:33
  Speaker 6: lose a lot of money, their life savings, because you
• 7:36
  Speaker 6: want to retire, and by the time you retire, You
• 7:39
  Speaker 6: want to buy a piece of land so that, you know,
• 7:42
  Speaker 6: you can construct a few houses here and there, maybe
• 7:44
  Speaker 6: for rental. And then you end up actually giving your
• 7:47
  Speaker 6: money to a wrong person who owns a wrong title
• 7:52
  Speaker 6: deed or a fake title deed, actually. Again, the videos
• 7:55
  Speaker 6: I have will actually explain it better. They're calling it
• 8:00
  Speaker 6: fake impersonation, you know, fake impersonation. And of course, today
• 8:05
  Speaker 6: we're going to be breaking down the real estate businesses
• 8:07
  Speaker 6: from the beginning on. how it works, where the profits
• 8:10
  Speaker 6: come from, how much money you need, the risk you
• 8:13
  Speaker 6: must understand, the mistakes you should avoid before investing, which
• 8:18
  Speaker 6: is very important. In this genre of business or conversation
• 8:22
  Speaker 6: we're getting into, you need to be very keen. We're
• 8:25
  Speaker 6: not telling you to actually try this without you being comfortable,
• 8:30
  Speaker 6: without you doing research about it. And again, pocket-friendly because
• 8:36
  Speaker 6: they are cheap plants It depends what you're looking at.
• 8:39
  Speaker 6: What are you looking forward to? What type of real
• 8:41
  Speaker 6: estate do you want to offer? Again, if you're looking
• 8:45
  Speaker 6: to be building in Kibera, well and good. If you're
• 8:48
  Speaker 6: looking to be building in places like Kilimani, that's a
• 8:51
  Speaker 6: big amount of money. So, of course, we all know
• 8:54
  Speaker 6: real estate, what it is. But I'm going to cue
• 8:57
  Speaker 6: the videos as we actually get into it. I'm going
• 8:59
  Speaker 6: to be breaking it down as they also talk because
• 9:03
  Speaker 6: I have my own point here. And I love the
• 9:06
  Speaker 6: video I have right here because it also breaks its own.
• 9:10
  Speaker 6: This is people with experience, actually. People who are in
• 9:13
  Speaker 6: this business and who are going to tell you the
• 9:16
  Speaker 6: risks to avoid. Again, if this is your way to retire,
• 9:20
  Speaker 6: you want to build this or you want to, even
• 9:22
  Speaker 6: right now, you want to put yourself into this. Maybe
• 9:25
  Speaker 6: the things I've been talking about is not what you
• 9:26
  Speaker 6: want to venture into. If you've been looking for to
• 9:29
  Speaker 6: maybe put yourself into a real estate, man, this is
• 9:33
  Speaker 6: the conversation for you and I hope you get to enjoy.
• 9:36
  Speaker 3: Of course. Nice to be here. Nice to see you.
• 9:40
  Speaker 3: Thank you. Nice to see you too. On the other
• 9:41
  Speaker 3: side is Mr. Marco Gio.
• 9:43
  Speaker 7: Yes.
• 9:44
  Speaker 3: Yes.
• 9:45
  Speaker 6: And, of course, real estate, again, for those maybe who
• 9:47
  Speaker 6: don't understand, but I do believe all of us know
• 9:50
  Speaker 6: what a real estate business is. Of course, it's the
• 9:53
  Speaker 6: business of buying, selling, renting, developing, or managing property to
• 9:58
  Speaker 6: earn money or build property. long-term wealth and as we
• 10:02
  Speaker 6: continue like i said i'll break down their four different
• 10:05
  Speaker 6: types according to my research four different types of real
• 10:09
  Speaker 6: estate investment.
• 10:12
  Speaker 8: Pleasure to be here and looking forward to the podcast
• 10:15
  Speaker 8: my screen.
• 10:16
  Speaker 6: Is not shared so then Hold on. My screen is
• 10:18
  Speaker 6: not shared. Let me share my screen as we continue.
• 10:22
  Speaker 3: I think it's also.
• 10:25
  Speaker 2: Very important for us to discuss about these issues in
• 10:28
  Speaker 2: regards to scams.
• 10:29
  Speaker 3: Are there scams in this market? Yes or no?
• 10:31
  Speaker 6: Yes.
• 10:32
  Speaker 3: Yes, definitely. If we are saying there are no scams,
• 10:34
  Speaker 3: then we are lying. Who are the scammers? Who are
• 10:38
  Speaker 3: the scammers?
• 10:39
  Speaker 1: I think in this industry that we're in, the probability
• 10:43
  Speaker 1: of you getting scammed is very high.
• 10:45
  Speaker 3: In this industry, if you're not prudent.
• 10:47
  Speaker 1: If you're not cautious, then most likely you will get
• 10:51
  Speaker 1: scammed in different ways. So that's why we're here to
• 10:53
  Speaker 1: discuss the amount of ways to avoid and to educate
• 10:57
  Speaker 1: you a bit more on other areas that you can
• 11:00
  Speaker 1: use on a transaction.
• 11:02
  Speaker 7: Exactly.
• 11:03
  Speaker 6: And I'll expound on that why it is so easy
• 11:05
  Speaker 6: for you to be scammed. Because when you look at
• 11:07
  Speaker 6: something like land ownership, it's something I've been talking about
• 11:10
  Speaker 6: on the first episodes of these Thursday shows. I talked
• 11:14
  Speaker 6: about where today many people even cannot practice farming or
• 11:18
  Speaker 6: even many people have not grown up in farming because
• 11:21
  Speaker 6: we have not grown up with access of land. Most
• 11:25
  Speaker 6: of us have had to actually work so hard. So
• 11:29
  Speaker 6: many of us are still also working hard. So by
• 11:31
  Speaker 6: the time we, again, even before we retire, I'm not
• 11:33
  Speaker 6: trying to think about by the time I retire. Before
• 11:36
  Speaker 6: you even retire, you're owning a piece of land somewhere
• 11:39
  Speaker 6: and putting yourself into, you know, either farming or even
• 11:42
  Speaker 6: building there. just somewhere you can call home, or other
• 11:46
  Speaker 6: things we want to do with that land. Many people
• 11:49
  Speaker 6: do not have that privilege. So again, and especially also
• 11:55
  Speaker 6: dealing with the government, and again, where this fix comes with,
• 11:59
  Speaker 6: is actually part of this system. Our very own politicians
• 12:03
  Speaker 6: are part of this coming scenario, and this is not
• 12:07
  Speaker 6: alleged because I've seen personally, me and my Dad and
• 12:13
  Speaker 6: the rest of my family were actually affected by this.
• 12:16
  Speaker 6: I remember my dad bought a land after my mom
• 12:18
  Speaker 6: had passed. And then a few, we didn't even stay
• 12:21
  Speaker 6: there for long. He just secured the fence, he built
• 12:23
  Speaker 6: the gate. And then, boom, all of a sudden, we
• 12:26
  Speaker 6: hear the current president had hired some people to actually
• 12:30
  Speaker 6: come and terrorize the people who had built houses in
• 12:33
  Speaker 6: that particular land. Mind you, everyone has a title deed.
• 12:37
  Speaker 6: Everyone actually is showing they have a title deed. only
• 12:40
  Speaker 6: to be told it's fake and given a short notice
• 12:43
  Speaker 6: to vacate in this particular place within this particular time.
• 12:47
  Speaker 6: Because remember, it was actually very chaotic. The people, the
• 12:52
  Speaker 6: residents had to gather. The men had to sleep outside.
• 12:55
  Speaker 6: And then the Kenya Defense Forces actually had to come
• 12:57
  Speaker 6: and guard the area because the men had guns. They
• 13:01
  Speaker 6: were given guns. They had machetes. So it was actually,
• 13:04
  Speaker 6: if you find the men of the house.
• 13:07
  Speaker 6: It's either they agree to give up the land or
• 13:10
  Speaker 6: they're gone. That was what was happening. So when you
• 13:13
  Speaker 6: look at actually, again, this land ownership, because when you
• 13:16
  Speaker 6: go back to, like I said, real estate, for you
• 13:18
  Speaker 6: to own a real estate, it requires you to buy land.
• 13:21
  Speaker 6: And that's why you've been told, or rather you can
• 13:23
  Speaker 6: see me saying, most of the people actually, they'll find
• 13:27
  Speaker 6: themselves spending their life savings when they'll buy land without
• 13:31
  Speaker 6: checking the ownership, which is very, very important because this
• 13:34
  Speaker 6: is where the scamming thing goes on. And then it
• 13:37
  Speaker 6: finds people super desperate. You don't have that generational wealth.
• 13:40
  Speaker 6: So what do you do? Now you have this money.
• 13:42
  Speaker 6: You're so excited. You find a deal. You think, you know,
• 13:46
  Speaker 6: you're not thinking the deal is too good. You know,
• 13:49
  Speaker 6: you're thinking twice. You're supposed to be thinking twice. So
• 13:52
  Speaker 6: you end up giving your money. And by the time
• 13:53
  Speaker 6: you're trying to involve your lawyer or who and who actually,
• 13:58
  Speaker 6: which they're going to say, the lawyer is part of
• 14:00
  Speaker 6: the scam, which majority of these people are so hooked
• 14:04
  Speaker 6: into this system. So you have to be very, very careful.
• 14:06
  Speaker 6: This is not a trial and error type of business
• 14:09
  Speaker 6: you want to put yourself into.
• 14:11
  Speaker 3: I think this is very common.
• 14:12
  Speaker 2: There's a story, not even a story, it's a real
• 14:14
  Speaker 2: occurrence in the market where a client, a developer lost money.
• 14:20
  Speaker 3: In a land purchase.
• 14:21
  Speaker 2: Somebody faked ownership of the land and they were able
• 14:24
  Speaker 2: to transact almost $ 400 million.
• 14:30
  Speaker 6: Damn, at first I'd heard actually $ 4 million. I thought
• 14:33
  Speaker 6: he had said $ 4 million.
• 14:34
  Speaker 2: $ 400 million?
• 14:36
  Speaker 6: Oh, my God. 400 million, that should be... Let me
• 14:40
  Speaker 6: give you guys that figure. Oh, my God. Like, you've been... Oh,
• 14:46
  Speaker 6: my God, that's a lot of money. Wine. 400 million.
• 14:54
  Speaker 6: K shillings in USD. That should be three... Oh, my God.
• 14:59
  Speaker 6: That should be 308... 3,819 USD Let me just say 3,010.
• 15:08
  Speaker 2: Yeah.
• 15:08
  Speaker 6: 3,010 US dollar.
• 15:08
  Speaker 3: No, 300,000. Sorry.
• 15:08
  Speaker 1: 300,000.
• 15:08
  Speaker 6: Not 3,000.
• 15:08
  Speaker 5: 300,000 and.
• 15:09
  Speaker 6: Yeah. 10 US dollars. Oh, my God.
• 15:12
  Speaker 3: So.
• 15:32
  Speaker 6: Imagine you've been scammed that whole amount of money because
• 15:36
  Speaker 6: you have not done a good research on land ownership.
• 15:42
  Speaker 6: Title deed, because this is real. Many people go losses
• 15:46
  Speaker 6: and you won't cry to nobody but yourself and maybe
• 15:49
  Speaker 6: your mama. Sorry.
• 15:51
  Speaker 2: Then, uh, the guy disappeared, disappeared. Um, The client has
• 15:58
  Speaker 2: not recovered since then.
• 15:59
  Speaker 6: Of course you can't recover. 400 million? Are you kidding me?
• 16:05
  Speaker 6: You can imagine this man probably is all life-saving. That's
• 16:09
  Speaker 6: why we go back to their people again. Some people
• 16:12
  Speaker 6: make millions from property, while others lose their life savings
• 16:16
  Speaker 6: because they bought land without checking ownership. And also sometimes
• 16:20
  Speaker 6: it's also through borrowed money. Imagine you borrowed money. or
• 16:24
  Speaker 6: you went to the bank and borrowed this whole amount
• 16:27
  Speaker 6: of money, believing within this amount of time when you
• 16:30
  Speaker 6: have this real estate or you've invested in this, it's
• 16:33
  Speaker 6: going to give you enough money for you to be
• 16:35
  Speaker 6: able to pay back the bank. Oh my God.
• 16:40
  Speaker 8: Yeah.
• 16:41
  Speaker 6: So, take lessons.
• 16:44
  Speaker 3: Freak worship. Yes.
• 16:46
  Speaker 7: You know, funny thing, it's very hard to recover money
• 16:48
  Speaker 7: from a scam.
• 16:49
  Speaker 6: Of course it is.
• 16:50
  Speaker 3: It's very hard.
• 16:51
  Speaker 8: People usually don't look at that side. It's very hard
• 16:54
  Speaker 8: to recover a money from a scammer. And when you
• 16:56
  Speaker 8: look from that angle, you need to be very careful
• 16:59
  Speaker 8: before you make any transaction. And you see in our industry,
• 17:04
  Speaker 8: real estate, you can be very wealthy. But also, because
• 17:08
  Speaker 8: of that, you can lose a lot, a lifetime wealth.
• 17:11
  Speaker 1: They normally say once the idea is planted in your
• 17:14
  Speaker 1: mind that you want to buy a property or you
• 17:17
  Speaker 1: want to rent a property, there's a process that you
• 17:19
  Speaker 1: need to follow. And that process, you cannot skip or
• 17:22
  Speaker 1: you cannot cut corners. So from point A to point Z,
• 17:25
  Speaker 1: that's a process, right? And once you have that idea,
• 17:27
  Speaker 1: you want to move to the invest or rather purchase
• 17:30
  Speaker 1: your own house, I usually say, first of all, consult
• 17:34
  Speaker 1: with the nearest person who's next to you.
• 17:36
  Speaker 3: I'm sure within your circle, there's some people who have
• 17:38
  Speaker 3: bought properties. Exactly.
• 17:40
  Speaker 6: You have to ask around. You have to do research. Again,
• 17:44
  Speaker 6: this goes to every business I've seen. research is very
• 17:48
  Speaker 6: important before you put yourself or put your foot into this.
• 17:51
  Speaker 6: Understand how this works too is very, very important. Don't
• 17:55
  Speaker 6: do this because you saw your friend doing it and
• 17:58
  Speaker 6: you see them successful and you think, oh, because so-and-so
• 18:01
  Speaker 6: can do it, why can't I do it? I really
• 18:04
  Speaker 6: have seen people who have failed through this, putting themselves into, oh,
• 18:11
  Speaker 6: because so-and-so has done it, why can't I do it?
• 18:13
  Speaker 6: And you end up literally figuring out the This person,
• 18:18
  Speaker 6: this is something they're doing from passion because again, you're
• 18:22
  Speaker 6: not going to put yourself into something you're not also
• 18:24
  Speaker 6: passionate about. I believe that's also another angle of looking
• 18:28
  Speaker 6: at a business. I don't know if people just do
• 18:31
  Speaker 6: things because this can make me money and all that.
• 18:34
  Speaker 6: You have to understand. You need to have ideas about
• 18:38
  Speaker 6: how this whole thing works. You need to have at
• 18:42
  Speaker 6: least a clue of how the whole thing works. From there,
• 18:46
  Speaker 6: you'll understand where the losses are coming from, if there
• 18:50
  Speaker 6: are any losses, where the profits are coming from, how
• 18:52
  Speaker 6: much profit you're actually making, you track your money and
• 18:55
  Speaker 6: all that before you put your foot into any business research.
• 19:03
  Speaker 1: First go there. Don't go first coming to look for us. Okay,
• 19:06
  Speaker 1: that's another process. But consult with the nearest. I'm sure
• 19:09
  Speaker 1: your uncle, your aunt, your parents, somebody has a good property.
• 19:12
  Speaker 1: Sit down with them and ask them what was the process.
• 19:15
  Speaker 6: Exactly.
• 19:16
  Speaker 1: And then from there, let them refer you to their
• 19:18
  Speaker 1: agent and to their lawyer.
• 19:21
  Speaker 3: You see? Don't go outside looking for a lawyer that
• 19:23
  Speaker 3: you've never seen.
• 19:24
  Speaker 6: Exactly. Because the lawyers, not all of them are to
• 19:29
  Speaker 6: be trusted. Trust me. Not all of them are to
• 19:31
  Speaker 6: be trusted. These people are smart. Those people are smart.
• 19:37
  Speaker 6: I listen to how my lawyer friends talk about clients
• 19:40
  Speaker 6: and oh my God. Yeah. you have to find yourself
• 19:46
  Speaker 6: a clean lawyer. Because if they find someone who can,
• 19:48
  Speaker 6: they can just, if you have... an easy one, they'll
• 19:51
  Speaker 6: take money from you. And you'll take them nowhere. Because
• 19:55
  Speaker 6: you don't even understand the protocol that you followed. You
• 19:58
  Speaker 6: used the wrong protocol, probably, or the wrong people, literally.
• 20:02
  Speaker 1: Because now we find that in our industry, they have
• 20:04
  Speaker 1: quack laws. agents, and realtors are quack lawyers. And that
• 20:09
  Speaker 1: is where the foundation of the scamming begins. So you
• 20:11
  Speaker 1: need to be very careful from the on-go, from the setting,
• 20:14
  Speaker 1: and confirm and rather use a referral system to get
• 20:19
  Speaker 1: the realtor and the lawyer.
• 20:21
  Speaker 8: It's very true, because I usually say trust is verification
• 20:27
  Speaker 8: and not promises.
• 20:28
  Speaker 3: But most people you find.
• 20:29
  Speaker 7: They get scammed because they buy the promises. They don't even, because.
• 20:33
  Speaker 8: The deal is good, And you find scammers, they build
• 20:37
  Speaker 8: capacity when it comes to scamming.
• 20:38
  Speaker 2: Exactly.
• 20:39
  Speaker 8: So they can sell you the future very well to
• 20:42
  Speaker 8: a point you overlook verification.
• 20:43
  Speaker 6: And you're desperate. They use that point, of course. And
• 20:48
  Speaker 6: you can tell someone who's desperate. It's so easy to
• 20:51
  Speaker 6: tell someone who's desperate. So if you're selling desperately, if
• 20:56
  Speaker 6: you're looking.
• 20:58
  Speaker 6: For something with a lot of desperation, not with accuracy.
• 21:02
  Speaker 6: I don't know if I'm using the right term, but
• 21:04
  Speaker 6: I do believe I am. Remove desperation and put accuracy. And,
• 21:10
  Speaker 6: you know, with accuracy comes in all this clarity or
• 21:14
  Speaker 6: clarifying of every step you're making, including the documents, whatever.
• 21:19
  Speaker 6: You need to see things moving or you being told.
• 21:22
  Speaker 8: And at the end of the day, you find yourself,
• 21:25
  Speaker 8: you're making mistakes without you knowing. Because once they believe,
• 21:29
  Speaker 8: once they know that they are trust, that you trust
• 21:33
  Speaker 8: them very well, that's it.
• 21:34
  Speaker 7: That's all they want.
• 21:35
  Speaker 3: Just you to trust them. That's it. Because once you
• 21:39
  Speaker 3: trust them, they'll tell you, I have my lawyer.
• 21:41
  Speaker 6: Exactly.
• 21:42
  Speaker 7: Not knowing the lawyer is part of the deal.
• 21:44
  Speaker 2: Exactly.
• 21:44
  Speaker 7: Because he's also a quack lawyer.
• 21:47
  Speaker 3: Yes.
• 21:47
  Speaker 7: I have this, I have this. And all these people,
• 21:50
  Speaker 7: it's just a circle.
• 21:51
  Speaker 3: Exactly. It's a cartel. Exactly. It's a cartel. There is
• 21:54
  Speaker 3: quack ownership and there is quack culture.
• 21:56
  Speaker 2: Now, when it comes to fake ownership, if somebody impersonates
• 22:01
  Speaker 2: and says, ABCD, and so therefore, you're not going to
• 22:06
  Speaker 2: pay me because I'm the owner of this. I think
• 22:09
  Speaker 2: buyers should be able to go through checking documents to
• 22:13
  Speaker 2: get to know if for sure they are owners of
• 22:15
  Speaker 2: those kind of properties. There, I think what they need
• 22:17
  Speaker 2: to do is to compare their IDs with the documents,
• 22:23
  Speaker 2: their agreements, and the titles and all that. Now, Fake titles,
• 22:27
  Speaker 2: fake titles comes in when you realize that the title
• 22:33
  Speaker 2: that's being discussed is not genuine, is not real, is
• 22:38
  Speaker 2: a liberal title.
• 22:39
  Speaker 3: How do you get to verify all this?
• 22:41
  Speaker 6: Exactly, because that is something else. How do you verify
• 22:44
  Speaker 6: a real title deed? That is something else you have
• 22:48
  Speaker 6: to actually check. How do you verify? How do you
• 22:52
  Speaker 6: know a title deed is fake or a title deed
• 22:55
  Speaker 6: is real? That is something else.
• 22:58
  Speaker 3: Through your lawyer, they.
• 22:59
  Speaker 2: Can help you do their deed business. You can go
• 23:02
  Speaker 2: through Adi Sasa. You can also work with your lawyer
• 23:05
  Speaker 2: to verify the title if it's real or not, if
• 23:08
  Speaker 2: it's fake, you know.
• 23:09
  Speaker 3: Lawyers are well-positioned to.
• 23:11
  Speaker 6: Yeah, and for the lawyer, of course, they have to
• 23:12
  Speaker 6: be not quack lawyers or the fake agents like you said.
• 23:16
  Speaker 6: You need, again, Adi Sasa, I think, does work. It
• 23:20
  Speaker 6: does work. The last time I checked. So, yes.
• 23:22
  Speaker 3: Do all these things. But then again, you also need
• 23:24
  Speaker 3: to get somebody who is reputable.
• 23:26
  Speaker 6: Yes you do all that yes it's.
• 23:29
  Speaker 8: It's it's very true mostly when it comes to fake
• 23:31
  Speaker 8: type when you go to river you can get any
• 23:33
  Speaker 8: title that you want.
• 23:34
  Speaker 3: And the quality or and the quality is.
• 23:37
  Speaker 8: Almost identical it's almost identical so dealing with the thorough
• 23:41
  Speaker 8: advocate or lawyer it's a very important thing not to
• 23:46
  Speaker 8: overlook dealing with the thorough a para-lawyer, because you might
• 23:49
  Speaker 8: get an advocate who's just there for the money.
• 23:52
  Speaker 6: Exactly.
• 23:52
  Speaker 7: And so they'll look at the title, ah, it looks original.
• 23:55
  Speaker 7: Then they just write you a document. But they haven't
• 23:57
  Speaker 7: done proper due diligence.
• 23:59
  Speaker 3: Yeah, yeah, yeah.
• 24:00
  Speaker 2: Before we move forward, I could mention a couple of lawyers.
• 24:04
  Speaker 3: Yes.
• 24:05
  Speaker 2: I think one of the lawyers that I've seen that
• 24:08
  Speaker 2: do so well when it comes to real estate purchases
• 24:14
  Speaker 2: is Brian Oteo.
• 24:17
  Speaker 3: Yeah.
• 24:19
  Speaker 2: We can check FKC Legal. We can check Abisalam and co-advocates.
• 24:25
  Speaker 2: We can check OG advocates just here. We will also
• 24:29
  Speaker 2: try to list those advocates to help you purchase your
• 24:33
  Speaker 2: property in this market for you not to get scammed
• 24:35
  Speaker 2: because they are very thorough in terms of giving it
• 24:38
  Speaker 2: to you.
• 24:40
  Speaker 3: Very true.
• 24:40
  Speaker 1: You see what scammers are scamming you. They've done their search.
• 24:44
  Speaker 6: They've done their homework.
• 24:46
  Speaker 1: So they've come, they've gone to the market, they've identified
• 24:49
  Speaker 1: some properties that they have stayed or the owners are abroad.
• 24:53
  Speaker 3: So the owners are not around.
• 24:54
  Speaker 6: Exactly. So mostly you find also maybe you bought a
• 24:58
  Speaker 6: land here. So your land has been empty for the
• 25:01
  Speaker 6: longest time, like even five, close to 10 years. And
• 25:05
  Speaker 6: of course, you never come to Kenya or Nigeria where
• 25:09
  Speaker 6: you bought this land, Ghana, you know. You'd never come.
• 25:13
  Speaker 6: It's been like over 10 years. Nobody sees you. Nobody
• 25:16
  Speaker 6: comes to check on your land. Of course, you never
• 25:18
  Speaker 6: left anyone to also take care or watch that land.
• 25:21
  Speaker 6: So someone out of nowhere, maybe it was maybe one
• 25:25
  Speaker 6: among the people who are just lingering there when you
• 25:27
  Speaker 6: are signing these deals or however this deal happened, you know,
• 25:31
  Speaker 6: or even the person who even hooked you up to
• 25:36
  Speaker 6: the land itself, you know? You have the original title deed. You,
• 25:40
  Speaker 6: you have the original title deed. But the person who
• 25:43
  Speaker 6: hooked you up here to this land can end up
• 25:45
  Speaker 6: also impersonating you, you know, and claiming, hey, this land
• 25:48
  Speaker 6: is mine when someone comes to ask. So they sell the,
• 25:51
  Speaker 6: oh my God, they sell this land, but you have
• 25:54
  Speaker 6: the original title deed. So this person is given the
• 25:57
  Speaker 6: fake title deed. This is why you hear them saying,
• 25:58
  Speaker 6: if you go to River Road, where they can make
• 26:00
  Speaker 6: the fake title deeds And they give it to you.
• 26:05
  Speaker 6: And because you have a quack lawyer and all that,
• 26:08
  Speaker 6: people just greedy for money, you end up actually being scammed.
• 26:12
  Speaker 6: And you're not going to take this person nowhere. Funny thing,
• 26:17
  Speaker 6: you won't take this person nowhere because it's you they blame.
• 26:21
  Speaker 6: They ask you, how don't you understand the difference between
• 26:24
  Speaker 6: an original title deed and a fake one? Why didn't
• 26:27
  Speaker 6: you follow me? the right procedure. I don't know if
• 26:31
  Speaker 6: it's less people who I've seen actually being helped. For
• 26:34
  Speaker 6: my dad's case, what happened, maybe those wondering what happened,
• 26:39
  Speaker 6: I think I've seen it a couple of times. For him,
• 26:41
  Speaker 6: he had to find someone else also to sell the
• 26:43
  Speaker 6: land to very quick and found someone again who was
• 26:46
  Speaker 6: land desperate because there's so many people who are land
• 26:49
  Speaker 6: desperate or desperate for land, however you want to see
• 26:52
  Speaker 6: it or quote it, you know. So he found someone
• 26:55
  Speaker 6: who was literally very desperate for land and he sold
• 26:57
  Speaker 6: land I think the same amount or more to the person.
• 27:02
  Speaker 6: So by the time the eviction was happening, you know,
• 27:04
  Speaker 6: the other person was affected but not my dad. You know,
• 27:08
  Speaker 6: so it's crazy.
• 27:09
  Speaker 3: You see, so they'll come and pose as the owner. Impersonation.
• 27:13
  Speaker 1: Yeah, impersonation. They know the person is not around. You
• 27:16
  Speaker 1: cannot easily contact them. And they'll be the front or
• 27:19
  Speaker 1: rather the, you know, the face of this property or project.
• 27:23
  Speaker 1: And coming back to the documentation, when you're giving the document,
• 27:27
  Speaker 1: don't just look at it.
• 27:28
  Speaker 3: Go online and search. And then when.
• 27:31
  Speaker 1: The person you're dealing with is trying to cut corners,
• 27:34
  Speaker 1: telling you there's no need to go and search, just
• 27:37
  Speaker 1: look at the document, fill the document, then that's another
• 27:39
  Speaker 1: red flag.
• 27:40
  Speaker 3: Exactly.
• 27:40
  Speaker 6: Because why are you telling me not to go search?
• 27:42
  Speaker 6: I should just believe what you're selling me. I need
• 27:45
  Speaker 6: to do research. How do I understand? How do I
• 27:48
  Speaker 6: know this is real? How do I know you're not
• 27:50
  Speaker 6: trying to scam me?
• 27:51
  Speaker 3: A red, red, red flag.
• 27:53
  Speaker 2: Very true.
• 27:54
  Speaker 7: And I appreciate the fact that the government came up
• 27:56
  Speaker 7: with the.
• 27:56
  Speaker 6: Yeah, but as we continue, understand, as we talk about
• 27:59
  Speaker 6: these properties or real estate properties, or, yeah, the ones
• 28:03
  Speaker 6: that you can invest in, we have, number one, the
• 28:06
  Speaker 6: rental properties. I say there are four categories or four
• 28:09
  Speaker 6: types of real estate you can invest in. We have
• 28:12
  Speaker 6: the rental properties where you buy or build a house,
• 28:16
  Speaker 6: a house... an apartment or commercial space and collect rent
• 28:21
  Speaker 6: every month. This is normally I'd say basically what we do.
• 28:28
  Speaker 6: This is us. This is majority of Kenyans. This is
• 28:30
  Speaker 6: majority of Nigerians, Ghanaians. This is what most of Africans,
• 28:34
  Speaker 6: because again, land ownership, not so many people have grown
• 28:40
  Speaker 6: into that generational wealth and others have to buy land
• 28:44
  Speaker 6: to build their own homes or spaces. So most of
• 28:47
  Speaker 6: us literally end up being in this rental property type
• 28:53
  Speaker 6: of business. Not me, though, but my landlord is, you know,
• 28:57
  Speaker 6: because that man is making money. You know, one of
• 29:00
  Speaker 6: the persons I know that is making money out of
• 29:02
  Speaker 6: rental properties is actually my current landlord. That man has
• 29:07
  Speaker 6: like many apartments and is making money, making a lot
• 29:11
  Speaker 6: of money and other businesses plus on top of it.
• 29:15
  Speaker 6: The second one we have buying and reselling land. This
• 29:18
  Speaker 6: is the buy land at a reasonable price, then sell
• 29:23
  Speaker 6: it later at a higher price if demand and market
• 29:27
  Speaker 6: conditions support the increase. So this actually you have to
• 29:30
  Speaker 6: be very careful because I believe later on this research,
• 29:34
  Speaker 6: it's going to show you the risks to avoid with
• 29:38
  Speaker 6: buying and reselling land. Because sometimes, again, the demand of
• 29:43
  Speaker 6: the price might not actually support you or the market condition.
• 29:49
  Speaker 6: So you might go a loss. And then the third one,
• 29:52
  Speaker 6: we have property development. We have purchased land, construct houses
• 29:56
  Speaker 6: or apartments. then sell the finished units and rent them out.
• 30:03
  Speaker 6: So this is another really booming, growing business, I'd say,
• 30:07
  Speaker 6: in Africa, actually, especially in places like Blovington, Kilimani, Kileleshwa.
• 30:15
  Speaker 6: We have so many Kenyans today, actually, who are going
• 30:19
  Speaker 6: for this. They are buying, they are purchasing, actually, these houses,
• 30:25
  Speaker 6: and then they turn them into Airbnbs, Or maybe they
• 30:28
  Speaker 6: rent them out. There are people who actually will buy
• 30:30
  Speaker 6: the unit and then they rent it out. So I
• 30:33
  Speaker 6: believe you collect the rent from the person living in
• 30:36
  Speaker 6: that house or your unit instead of the landlord. I
• 30:40
  Speaker 6: don't know if it really makes sense. Yeah. Or you
• 30:43
  Speaker 6: put it into an airbnb. It depends. And, of course,
• 30:45
  Speaker 6: you have to charge a reasonable amount to add up
• 30:50
  Speaker 6: to something, I believe, a year. Not a month even.
• 30:54
  Speaker 6: A year.
• 30:56
  Speaker 5: Right?
• 30:57
  Speaker 6: And then the fourth one, we have commercial real estate.
• 30:59
  Speaker 6: I say the first one is rental property. The second
• 31:03
  Speaker 6: one is buying and reselling of land. The third one
• 31:05
  Speaker 6: is property development. And the fourth one is commercial real estate.
• 31:09
  Speaker 6: This is where you invest in shops, offices, warehouses, or
• 31:14
  Speaker 6: other business premises that tenants pay to use. That's another
• 31:19
  Speaker 6: booming business. You can never go wrong with that. But again,
• 31:23
  Speaker 6: this goes with choice of location. It's very important. I'll
• 31:27
  Speaker 6: repeat and insist, before you set up business anywhere, choice
• 31:32
  Speaker 6: of location is very important. Demand. I don't think you
• 31:36
  Speaker 6: can go wrong with the commercial real estate, but again,
• 31:39
  Speaker 6: how is the demand? Because you can go to a place,
• 31:42
  Speaker 6: build something classy, and your rent prices might not match
• 31:45
  Speaker 6: the people in that particular space. So I'll not come
• 31:49
  Speaker 6: rent a shop for 30,000 Kenyan shillings. That should be,
• 31:52
  Speaker 6: I believe, $ 280 or $ 270. Well, I'm living in a
• 31:59
  Speaker 6: house of $ 100 or $ 80. Is that even making sense? Yes,
• 32:06
  Speaker 6: I could have the capital, but it's not matching. It's
• 32:11
  Speaker 6: not matching. So you have to actually also build or
• 32:15
  Speaker 6: invest in commercial real estate according to also I believe
• 32:19
  Speaker 6: the environment, how it looks, trace of location. You've been
• 32:23
  Speaker 6: told also important lesson to take on all this is
• 32:26
  Speaker 6: that each strategy requires different amount of money. Again, I
• 32:31
  Speaker 6: say that also last week. In every business, also as
• 32:35
  Speaker 6: I talk about trace of location, you have to look
• 32:37
  Speaker 6: at your pockets. Is this pocket friendly for me or
• 32:40
  Speaker 6: will I be going too much on myself, too hard
• 32:42
  Speaker 6: on myself to the point I can't actually sustain this
• 32:46
  Speaker 6: business for long to the point you have to shut
• 32:48
  Speaker 6: it down? You have to look for something that is
• 32:50
  Speaker 6: pocket-friendly for you. If you go for something that is
• 32:53
  Speaker 6: going to press your pocket, it's just going to go
• 32:56
  Speaker 6: a loss at the end of the day.
• 32:59
  Speaker 3: Okay?
• 33:00
  Speaker 6: Because choice of location and sustaining that, let's say, if
• 33:07
  Speaker 6: it's a shop and all that, a lot might not
• 33:11
  Speaker 6: match up. But yes, each strategy requires different amounts of money, knowledge, patience,
• 33:16
  Speaker 6: and risk tolerance. But again... Like we said, this is
• 33:20
  Speaker 6: a high-risk tolerance that you're going for. This is not
• 33:24
  Speaker 6: you planting skumawiki or yams, and then the next day
• 33:28
  Speaker 6: when you're bored with them, you're going to uproot them
• 33:31
  Speaker 6: and plant something else. Hell no. This is a very
• 33:34
  Speaker 6: high risk you're going for. So you have to, again,
• 33:39
  Speaker 6: like they're saying, do research. Sit down with people with experience.
• 33:44
  Speaker 6: Talk to them. Collect a few information and knowledge and
• 33:48
  Speaker 6: wisdom here before you start doing something of your own.
• 33:52
  Speaker 6: Don't go acting like the big man bazoo. Don't. Don't
• 33:57
  Speaker 6: King Kong here. You will not. You know, business does
• 34:01
  Speaker 6: not actually require, I'd say, we call it kiburi. You know,
• 34:04
  Speaker 6: you've been a tough-headed person. You'll have to actually sometimes
• 34:07
  Speaker 6: be on a certain level with people because you need
• 34:13
  Speaker 6: to learn. no matter how much money you have. And
• 34:17
  Speaker 6: then it says also owning a land is not the
• 34:19
  Speaker 6: same as earning monthly income. And an expensive property is
• 34:25
  Speaker 6: not automatically a profitable one. Exactly. Like I said, don't
• 34:29
  Speaker 6: go for something super expensive thinking, oh, you know, it's
• 34:33
  Speaker 6: not literally, it's not it. You know, you can build
• 34:36
  Speaker 6: something actually super cheap and make a lot of money
• 34:40
  Speaker 6: out of it. And then from there, grow. That's what
• 34:42
  Speaker 6: we call now growth. And, of course, another question maybe
• 34:46
  Speaker 6: most people would be asking, where does the money come
• 34:48
  Speaker 6: from when it comes to the real estate? Which, again,
• 34:51
  Speaker 6: I believe these guys are getting into that just as
• 34:54
  Speaker 6: I continue with the video. This is the most important
• 34:57
  Speaker 6: part of, you know, this conversation. The profit, of course,
• 35:03
  Speaker 6: you know, because everybody is, you know, making money. We're
• 35:05
  Speaker 6: not doing something to go aloft. We're trying to actually
• 35:08
  Speaker 6: build wealth and income and a heavy income. And they're
• 35:14
  Speaker 6: saying when you're buying a property to rent out, you
• 35:20
  Speaker 6: need to understand the difference between revenue, profit, and cash flow.
• 35:23
  Speaker 6: And a good example is when buying a property to
• 35:26
  Speaker 6: rent out, you have to imagine whereby an investor buying
• 35:31
  Speaker 6: a small rental property in Kenya, like the rent collected
• 35:35
  Speaker 6: that is every month should be $ 30, 000. And then we
• 35:39
  Speaker 6: have the repairs and maintainers, which should cost maybe $ 3, 000.
• 35:44
  Speaker 6: management and other costs 2,000, vacancy allowance 3,000, illustrative property
• 35:49
  Speaker 6: income before tax and loans cost 22,000 cash. It really
• 35:53
  Speaker 6: is just breaking down. This is my research breaking down
• 35:56
  Speaker 6: literally a lot of things. And then it also goes
• 35:59
  Speaker 6: all the way to when I talked about buying and
• 36:03
  Speaker 6: reselling of land, you have to be very careful because
• 36:06
  Speaker 6: if you buy a land, let's say like for a
• 36:08
  Speaker 6: million right now and maybe the price is not market
• 36:13
  Speaker 6: friendly uh for you and then you later sell it
• 36:16
  Speaker 6: for a loss let's say you sell it for seven
• 36:22
  Speaker 6: hundred thousand kenyan shillings you've gone a lot so you
• 36:25
  Speaker 6: need to actually ensure so the price of the market
• 36:28
  Speaker 6: is friendly. So I'll continue actually reading some other points
• 36:31
  Speaker 6: as I get to continue with this video.
• 36:35
  Speaker 8: Just exactly to check such things to avoid double titles.
• 36:44
  Speaker 2: The easy way to go, I mean the ultimate when
• 36:48
  Speaker 2: it comes to documents is what you call the green card.
• 36:51
  Speaker 2: You can't manipulate it. It's difficult to manipulate the green card.
• 36:54
  Speaker 2: It's a with the registry, land registry, the ones who
• 36:58
  Speaker 2: keep the green card. And so, therefore, you as an
• 37:01
  Speaker 2: individual can't really easily access the green card. The green
• 37:04
  Speaker 2: card can easily be accessed by the lawyer. So a
• 37:06
  Speaker 2: lawyer who understands his game, who understands his play, can easily,
• 37:10
  Speaker 2: you know, request for the green card to check if
• 37:13
  Speaker 2: what is in the green card is in tandem with
• 37:15
  Speaker 2: what is in the title, just to, you know, clear
• 37:18
  Speaker 2: the doubts and, you know, scum. But then also, apart
• 37:23
  Speaker 2: from that, there is what you call double sales and
• 37:25
  Speaker 2: sometimes this happens mostly I've seen also happening I see
• 37:31
  Speaker 2: sometimes in apartments when developers but mistakenly tend to sell
• 37:36
  Speaker 2: a unit to two clients then they realize oh it
• 37:40
  Speaker 2: was sold to but then again developers tend to have
• 37:43
  Speaker 2: ways to go.
• 37:44
  Speaker 6: About it yeah like that that incident happened recently with
• 37:48
  Speaker 6: just Ruto's house the affordable houses and There were people who,
• 37:52
  Speaker 6: I remember the video was going viral. They went and
• 37:55
  Speaker 6: bought a unit. And then after, that is actually when
• 37:59
  Speaker 6: the construction was still going on. Now the units are done.
• 38:03
  Speaker 6: The people came to actually now want to move in.
• 38:07
  Speaker 6: They are being told the unit was sold to someone different.
• 38:11
  Speaker 6: You see the scam? And this is actually happening in
• 38:16
  Speaker 6: the president's launch campaign. these projects going on of affordable houses.
• 38:24
  Speaker 2: But then again, apart from the apartment, double sales mostly
• 38:29
  Speaker 2: happens in land.
• 38:30
  Speaker 3: And if you go to areas like that, it's very common.
• 38:32
  Speaker 2: A client came from Switzerland to buy land. And the
• 38:40
  Speaker 2: land was just on Windy Ridge. We realized that the
• 38:45
  Speaker 2: land had been sold to almost eight people. We had
• 38:49
  Speaker 2: just to move, run away very fast. We even get
• 38:53
  Speaker 2: to show the client that land. See, so these things
• 38:55
  Speaker 2: are very common, mostly in Karen, where you find land
• 38:58
  Speaker 2: that's been sold to more than one person.
• 38:59
  Speaker 5: Wow.
• 38:59
  Speaker 3: So then again, when you get, even somewhere here, there's a.
• 39:02
  Speaker 6: It is crazy.
• 39:03
  Speaker 3: Yes, yes, yes. The other side also. To see that.
• 39:05
  Speaker 2: So there's such kind of things in this market.
• 39:09
  Speaker 3: And it's a serious scam.
• 39:17
  Speaker 2: You end up in court battles, losing money, wasting time
• 39:22
  Speaker 2: and all that, fighting, you know, goons are brought in,
• 39:26
  Speaker 2: you know, it's a problem.
• 39:28
  Speaker 6: Exactly.
• 39:28
  Speaker 3: And also when you're going to participate.
• 39:30
  Speaker 6: Exactly, you hear goons are brought in because that happened.
• 39:33
  Speaker 1: And sometimes this land has disputes, okay? Also do a search,
• 39:38
  Speaker 1: or definitely do a search and find out if it
• 39:40
  Speaker 1: has disputes.
• 39:41
  Speaker 6: Exactly.
• 39:42
  Speaker 1: And if it has, if there's succession, if it was
• 39:44
  Speaker 1: land that was inherited... if the succession was done and completed.
• 39:48
  Speaker 1: Because in between, you can find one of the relatives
• 39:51
  Speaker 1: who is going behind the family to sell the property
• 39:54
  Speaker 1: before succession is completed. So verify if that kind of
• 39:58
  Speaker 1: transaction was done. I think also when you're going to
• 40:00
  Speaker 1: buy property, definitely there are normally signs written. There's like
• 40:04
  Speaker 1: a board, a metal board written, land not for sale.
• 40:08
  Speaker 1: And somebody said to convince you to proceed and purchase
• 40:10
  Speaker 1: the land, that I know the owner, it is okay.
• 40:14
  Speaker 1: Let me tell you, kindly please do not.
• 40:17
  Speaker 3: Overlook that.
• 40:18
  Speaker 1: And then also, us as agents, another thing I've noticed,
• 40:22
  Speaker 1: and this thing called the painter's fee. The agent or
• 40:27
  Speaker 1: the advocate tells you, before we proceed with the process,
• 40:31
  Speaker 1: send something, painter's fee. Send viewing fee, and then we proceed.
• 40:36
  Speaker 1: I'm telling you, never send a coin before. Before the meeting,
• 40:42
  Speaker 1: before seeing the person you're going to transact with, before
• 40:44
  Speaker 1: seeing the property. That is why, for us, we don't
• 40:48
  Speaker 1: charge any vendor's fee, any viewing fee, until when you're satisfied. Now,
• 40:53
  Speaker 1: when we finish the process, we know how we shall
• 40:56
  Speaker 1: transact with the developer. But anyone asking for money beforehand.
• 41:03
  Speaker 5: I think when it comes to double sales, where a
• 41:07
  Speaker 5: property is sold to more than one person, just basic knowledge,
• 41:12
  Speaker 5: I think what a buyer should do is just to go.
• 41:16
  Speaker 2: To the ground and ask the locals around there about
• 41:19
  Speaker 2: that particular property. They have the intelligence. They tell you
• 41:22
  Speaker 2: if the property has got disputes, has issues. You get
• 41:24
  Speaker 2: to know it has been sold to ABCD.
• 41:26
  Speaker 3: That's easy.
• 41:28
  Speaker 2: But many times you tend to avoid that and want
• 41:30
  Speaker 2: to go the online and the lawyer way. Of course,
• 41:34
  Speaker 2: the lawyer is there, but also you go to the
• 41:35
  Speaker 2: ground and get to see what is happening on the ground.
• 41:38
  Speaker 3: Sometimes you're told.
• 41:40
  Speaker 6: Well, sometimes you might go to also those locals and
• 41:43
  Speaker 6: they have no clue of what is happening. Because trust me,
• 41:46
  Speaker 6: I know, me being part of that group, I believe,
• 41:52
  Speaker 6: I like minding my business. I'm not going to try
• 41:54
  Speaker 6: to understand what is happening on the next land. That
• 41:57
  Speaker 6: is none of my business. It's not my land. So
• 42:01
  Speaker 6: what business do I have in knowing if this land
• 42:04
  Speaker 6: has been bought by eight people? That is you again,
• 42:07
  Speaker 6: up to you, the buyer. Before or after you've been
• 42:10
  Speaker 6: given the land. Have a lawyer actually in this process.
• 42:16
  Speaker 6: Have a lawyer to have you taking matters the legal way,
• 42:22
  Speaker 6: you know, so that you can have again clarification of
• 42:25
  Speaker 6: the title deed before you give or hand out your money.
• 42:30
  Speaker 6: or before you sign a check. Because trust me, there
• 42:33
  Speaker 6: are places you'll go and ask, and you'll not get
• 42:37
  Speaker 6: a clue. So I'll not be of the advice to
• 42:39
  Speaker 6: tell you, go and ask locals. No, no. The locals
• 42:45
  Speaker 6: don't know better than how a lawyer would know and
• 42:49
  Speaker 6: the person you're dealing with.
• 42:50
  Speaker 3: To pay deposits. Mostly this happens when it comes to....
• 42:57
  Speaker 2: How do you call it, when.
• 43:00
  Speaker 3: It comes to rental? Yeah, rental, rental, rental.
• 43:02
  Speaker 2: Or maybe say you're told to pay deposit very fast.
• 43:06
  Speaker 2: If you don't pay, someone else will take it.
• 43:08
  Speaker 6: Exactly. Kwanzaa, especially those for faster renew, they are very dangerous.
• 43:12
  Speaker 6: Those for telling you, those will tell you like, oh,
• 43:15
  Speaker 6: you need to quick, you know, you need to do
• 43:17
  Speaker 6: this quick. Why are you rushing me? If it's legit
• 43:22
  Speaker 6: and if there are other people who are there before me,
• 43:24
  Speaker 6: why don't you give it to them then? You know?
• 43:27
  Speaker 6: Because that is the same scam even it happens. I
• 43:29
  Speaker 6: remember when I was looking for a house when I
• 43:32
  Speaker 6: wanted to move out and then hitting up people online
• 43:37
  Speaker 6: on one of the apps where it can easily help
• 43:40
  Speaker 6: you get houses. Some other people are telling me, oh,
• 43:42
  Speaker 6: you know, you need to pay the deposit very quick
• 43:44
  Speaker 6: before you.
• 43:44
  Speaker 9: What?
• 43:45
  Speaker 6: Pay what? I'm not paying nothing. I'm not seeing the house.
• 43:49
  Speaker 6: What am I paying? What am I paying for what
• 43:51
  Speaker 6: I've not seen? What am I paying for what I've
• 43:52
  Speaker 6: not seen? It's crazy.
• 43:53
  Speaker 3: You know, there's a pressure.
• 43:55
  Speaker 6: Exactly, pressure.
• 43:57
  Speaker 3: Put down deposit. It's a huge risk. If you don't
• 44:01
  Speaker 3: put the deposit today... Imagine. Yeah. It's crazy.
• 44:10
  Speaker 1: Because you are afraid and then you have kids and
• 44:14
  Speaker 1: then everything is in motion.
• 44:16
  Speaker 3: So you overlook things.
• 44:18
  Speaker 1: You sell that 50,000, 100,000. That mostly happens in the
• 44:22
  Speaker 1: app market. I've seen it happening in this market where
• 44:26
  Speaker 1: owners where tenants tend to.
• 44:29
  Speaker 2: Rush into paying deposits to leave those owners, even the
• 44:31
  Speaker 2: owner of the house. Then within no minutes, you come tomorrow,
• 44:34
  Speaker 2: you want to move here. Who did he pay to?
• 44:36
  Speaker 2: It wasn't the owner. It's somebody else. It's gone.
• 44:39
  Speaker 8: And I think it's because people are desperate. Because, for example,
• 44:42
  Speaker 8: you're looking for a one-bedroom in Kilimanjaro, Westlands. Then you
• 44:46
  Speaker 8: find a one-bedroom going for, let's say, 30,000.
• 44:49
  Speaker 3: That's unusual. I mean, it's below market.
• 44:54
  Speaker 6: Yeah, it sounds like a scam. I mean, what do
• 44:56
  Speaker 6: you mean? That sounds like a big scam.
• 44:59
  Speaker 5: Exactly.
• 45:00
  Speaker 3: I mean, it's impossible. Yes.
• 45:01
  Speaker 7: Then there's a number there. You call, and they pick,
• 45:04
  Speaker 7: and they tell you, we only have one year remaining,
• 45:06
  Speaker 7: and there was someone who was here a few minutes ago,
• 45:08
  Speaker 7: and they're willing to commit by tomorrow.
• 45:10
  Speaker 6: Hey, that pressure. It's crazy. And that's why you're being told.
• 45:13
  Speaker 6: So let me go through my list of research, which
• 45:16
  Speaker 6: is so... Relative to what they're saying, literally the same
• 45:22
  Speaker 6: point they're talking about. The biggest risks actually you need
• 45:27
  Speaker 6: to avoid or that are in real estate. Number one,
• 45:31
  Speaker 6: like they are mentioning about and they were insisting on,
• 45:33
  Speaker 6: is the fake title deeds and ownership disputes. Someone may
• 45:38
  Speaker 6: try to sell land that does not legally belong to
• 45:41
  Speaker 6: them or they don't own. Sell the same land plot
• 45:46
  Speaker 6: to multiple buyers. or conceal a dispute affecting the property.
• 45:51
  Speaker 6: How to avoid this is independently verify ownership and the
• 45:54
  Speaker 6: title through the relevant land registry. That is, of course,
• 46:01
  Speaker 6: like they said, for Kenya we have what is it
• 46:05
  Speaker 6: called again? ATI. That is the land company I know
• 46:12
  Speaker 6: we have. Of course, we have, like they said, the lawyer.
• 46:15
  Speaker 6: You can actually go with A lawyer, not a quack lawyer,
• 46:18
  Speaker 6: because we have quack lawyers. And investigate encumbrances, if I'm
• 46:27
  Speaker 6: pronouncing correctly, and restrictions. Confirm the seller's identity and authority
• 46:32
  Speaker 6: and use the independent property lawyer before paying. Like I said,
• 46:37
  Speaker 6: I insist on that. And then the second, actually, biggest
• 46:41
  Speaker 6: risk you need to avoid when you're getting yourself into
• 46:43
  Speaker 6: a real estate business is Projects that stall or never finish. Again, again,
• 46:52
  Speaker 6: this is where you go back to, if you remember to,
• 46:56
  Speaker 6: there's another line I read which said, each strategy requires
• 47:04
  Speaker 6: different amount of money, knowledge, patience, and risk tolerance. So again,
• 47:09
  Speaker 6: when you're talking about money, you're not trying to put yourself,
• 47:13
  Speaker 6: like it said, you're not trying to... Don't try to, um,
• 47:21
  Speaker 6: don't try to actually, let me read that again. It
• 47:24
  Speaker 6: was in each strategy requires different amounts of money, knowledge, patience,
• 47:28
  Speaker 6: and risk tolerance. Earning land is not the same as
• 47:31
  Speaker 6: earning monthly income and an expensive property is not automatically
• 47:36
  Speaker 6: a profitable one. So yes, don't go for actually, again,
• 47:39
  Speaker 6: something that is not pocket friendly for you just because
• 47:41
  Speaker 6: you saw someone doing it. And then you say, oh,
• 47:43
  Speaker 6: I can do it.
• 47:44
  Speaker 5: No.
• 47:45
  Speaker 6: Can you actually sustain this? Are you able to finish
• 47:48
  Speaker 6: the project once you start it or are you going
• 47:50
  Speaker 6: to be stuck in between? Yes. So projects that stall
• 47:56
  Speaker 6: or never finish. A developer may run out of money
• 47:59
  Speaker 6: and they estimate construction cost exactly because you don't understand
• 48:02
  Speaker 6: the cost of materials, the cost of actually paying the constructors,
• 48:07
  Speaker 6: you know, all those people who are going to be
• 48:09
  Speaker 6: helping you doing all these projects for you to come
• 48:11
  Speaker 6: to stand in and make you money. You have to
• 48:14
  Speaker 6: do all this research. And don't underestimate. Underestimate the construction
• 48:19
  Speaker 6: cost or fail to meet contractual obligation. And how you
• 48:24
  Speaker 6: can avoid this is examine the developer's completed project approvals, finances,
• 48:31
  Speaker 6: and construction schedule. Payment terms and also refund provisions. Do
• 48:37
  Speaker 6: not rely on attractive renders or sales promises. Tafadhali. That
• 48:43
  Speaker 6: is the second thing to avoid. The biggest thing to
• 48:45
  Speaker 6: avoid when you're getting yourself into a real estate. The
• 48:48
  Speaker 6: third one is buying property in an area with weak demand.
• 48:51
  Speaker 6: I think I mentioned that, especially when I was talking
• 48:53
  Speaker 6: about commercial real estate. You need to put commercial, if
• 48:59
  Speaker 6: you're talking about shops, offices, warehouses, and other business premises
• 49:04
  Speaker 6: for tenants that tenants pay to use every month, you
• 49:09
  Speaker 6: need to go for something that actually, again, has demand.
• 49:13
  Speaker 6: Because if you go build something that is super expensive
• 49:17
  Speaker 6: in an area that is people again are living on
• 49:21
  Speaker 6: a hand to mouth who do you expect to actually
• 49:23
  Speaker 6: come and buy you know uh accommodate that stall or
• 49:28
  Speaker 6: that shop you know for them to with their business.
• 49:31
  Speaker 6: You'll have to go to, if you build a fancy
• 49:34
  Speaker 6: warehouse or shops or stalls, you'll need to go to
• 49:37
  Speaker 6: places like Kilimanjaro. You have to look actually again at
• 49:40
  Speaker 6: the demand in general. They're saying a beautiful apartment can
• 49:43
  Speaker 6: sit empty if there are too few people willing or
• 49:47
  Speaker 6: able to pay the expected rent. Exactly. How to avoid
• 49:51
  Speaker 6: this is actually again research. Again, like you had research,
• 49:55
  Speaker 6: actual rent, vacancy levels, Nearby employers, transport, schools and planned infrastructure.
• 50:03
  Speaker 6: Speak with local agents and residents rather than rely on
• 50:07
  Speaker 6: a sales person. That is the only way this can
• 50:10
  Speaker 6: work for you. The fourth biggest risk you need to
• 50:13
  Speaker 6: avoid when putting yourself into a real estate business is
• 50:16
  Speaker 6: borrowing too much money. Like you heard from this video
• 50:20
  Speaker 6: at the beginning, the guy says there's someone he knows
• 50:23
  Speaker 6: who who was investing. And this person, like we've done
• 50:26
  Speaker 6: the currency exchange, this person invested $ 300, 000. That is 4 million,
• 50:33
  Speaker 6: 400 million Kenyan shillings into land and real estate, literally
• 50:38
  Speaker 6: wanting to do all this. And the person, he gave
• 50:41
  Speaker 6: the money, disappeared. And the person who literally gave out
• 50:44
  Speaker 6: their money has never been able to recover till today.
• 50:47
  Speaker 6: Because again, yes, how do you recover from that? Because
• 50:51
  Speaker 6: like you heard from the beginning, There are people who
• 50:54
  Speaker 6: will spend millions. People will make millions from property while
• 50:59
  Speaker 6: others lose their life savings because they bought land without
• 51:02
  Speaker 6: checking ownership. Please don't risk that. Go to point one.
• 51:07
  Speaker 6: Fake title deeds. Avoid that. And literally follow the expected protocol.
• 51:14
  Speaker 6: Don't borrow too much money. Loan payments continue even when
• 51:18
  Speaker 6: tenants stop paying or property remain vacant. Rising financing costs
• 51:23
  Speaker 6: can also damage cash flow. Exactly. How you can avoid
• 51:26
  Speaker 6: this is stress test your budget for several months without rent.
• 51:31
  Speaker 6: High interest costs and unexpected repairs keep emergency funds separate
• 51:36
  Speaker 6: from your deposit. The fifth one, again, the biggest risk
• 51:41
  Speaker 6: to avoid is buying based on promises of future developments.
• 51:46
  Speaker 6: Like they talked about, they mentioned it. Stop Because of
• 51:50
  Speaker 6: your desperation, you'll be sold promises. So don't go for promises.
• 51:53
  Speaker 6: A salesperson may claim that a road, an airport, factory,
• 51:57
  Speaker 6: or shopping center will soon transform an area, okay? But
• 52:03
  Speaker 6: to avoid this, verify projects independently, check its funding and approvals,
• 52:08
  Speaker 6: and assess whether the property makes sense, even if the
• 52:13
  Speaker 6: promised development is delayed and never happens. Exactly, because I've
• 52:16
  Speaker 6: seen there are areas where You can actually, yep, I've
• 52:19
  Speaker 6: seen this, I've seen this, I have seen this, and
• 52:22
  Speaker 6: it's really, really dangerous. The sixth risk to avoid when
• 52:26
  Speaker 6: you're getting yourself into a real estate business is hidden
• 52:29
  Speaker 6: costs and taxes. They say legal fees, transfer expenses, stamp duty,
• 52:35
  Speaker 6: land rates, insurance, maintenance, and applicable taxes can reduce returns.
• 52:41
  Speaker 6: How you can avoid this is obtain a written breakdown
• 52:44
  Speaker 6: of all purchase and ownership costs before signing. Confirm the
• 52:48
  Speaker 6: current tax treatment with the relevant authorities or a qualified
• 52:53
  Speaker 6: tax professional. And, of course, again, you go back to
• 52:55
  Speaker 6: point one, whereby fake title deeds, you need to work
• 52:59
  Speaker 6: again with, you need to investigate everything and, again, go
• 53:06
  Speaker 6: to either land registry or work with a lawyer before paying.
• 53:12
  Speaker 6: Ensure you have a lawyer there with you before paying
• 53:15
  Speaker 6: these taxes. And yeah, those are literally the six risks
• 53:18
  Speaker 6: to avoid before getting yourself into real estate business. But
• 53:24
  Speaker 6: as we continue... If you.
• 53:26
  Speaker 2: Can pay today, then you need to be yours. That's
• 53:29
  Speaker 2: a huge red flag. There's a lot of pressure for
• 53:31
  Speaker 2: you to pay, you know, and then again, buyers go,
• 53:35
  Speaker 2: I mean, tenants go in, pay their monies, money's gone.
• 53:38
  Speaker 2: It happens a lot in the market, mostly in rental properties.
• 53:42
  Speaker 2: But then also, on the same rental properties, you find,
• 53:44
  Speaker 2: apart from being pushed to pay deposits, you find individuals
• 53:49
  Speaker 2: who impersonate their owners again.
• 53:51
  Speaker 3: Pay it to me, I'm the owner. Or pay it
• 53:54
  Speaker 3: to me, I represent them. Then you send money.
• 53:56
  Speaker 6: To that individual. I see you're asking if real estate
• 54:02
  Speaker 6: works in Kenya. We have many real estates in Kenya. Many, actually.
• 54:07
  Speaker 6: That's why I believe you're joining right now. I did
• 54:10
  Speaker 6: explain we have four types of real estate businesses you
• 54:13
  Speaker 6: can actually get yourself into. And before you get into
• 54:17
  Speaker 6: real estate, again, you need to understand this goes back
• 54:20
  Speaker 6: to still, again, land, right? Not specifically land, but if
• 54:24
  Speaker 6: you want to own the property, this goes back to land, which, again,
• 54:28
  Speaker 6: you have to be very, very, very careful. You have
• 54:31
  Speaker 6: to understand how the business works first. the risk to
• 54:36
  Speaker 6: avoid and all that. So we have four, I said
• 54:39
  Speaker 6: rental properties, where you buy or build a house, apartment
• 54:43
  Speaker 6: or commercial space and collect rent every month, which of
• 54:47
  Speaker 6: course is, that is in every African country, I believe
• 54:50
  Speaker 6: also in America, come on, everywhere in the world, literally.
• 54:55
  Speaker 6: Buying and reselling of land, they're saying this is buy
• 54:58
  Speaker 6: land at a reasonable price, then sell it later at
• 55:01
  Speaker 6: a high price if demand increases. and market conditions support
• 55:04
  Speaker 6: the increases. And again, this you have to be very
• 55:08
  Speaker 6: careful because maybe by the time you're selling this land,
• 55:11
  Speaker 6: the price might not be actually market friendly and you
• 55:15
  Speaker 6: might go a loss. You've got to be very careful
• 55:17
  Speaker 6: with that, especially when it comes to the selling part
• 55:20
  Speaker 6: once you've bought the land. We have property development, purchase land.
• 55:26
  Speaker 6: This is purchase land, construct houses or apartments, then sell
• 55:30
  Speaker 6: the finished units or rent them out. This is another
• 55:33
  Speaker 6: booming business, like I said, in Kenya. Like, this is
• 55:36
  Speaker 6: actually one of the booming business today in Kenya. So
• 55:40
  Speaker 6: this is why we have places like, I'd say, Kilimani, Kilelesha.
• 55:43
  Speaker 6: People are calling them ghetto today because this is... We
• 55:46
  Speaker 6: have many, many, many apartment units, like, where people... This
• 55:50
  Speaker 6: is what they're going for. They're people who can buy
• 55:52
  Speaker 6: for the units, whether it's for one million or whatever
• 55:55
  Speaker 6: it goes for, a unit. And then once I buy,
• 55:57
  Speaker 6: let's say, it's me buying a unit in this apartment...
• 56:00
  Speaker 6: What I'll do is I'll put an Airbnb. Of course,
• 56:04
  Speaker 6: I'll charge a reasonable amount, which has to... And again,
• 56:07
  Speaker 6: you have to look at the location, which most of...
• 56:10
  Speaker 6: Is that place Airbnb-friendly, if you want to put Airbnb?
• 56:15
  Speaker 6: How accessible are you? Will the apartment or people have
• 56:19
  Speaker 6: a problem with that, which I don't believe they should
• 56:21
  Speaker 6: because the unit is yours already. Whatever you want to
• 56:23
  Speaker 6: do with the house, that's your problem.
• 56:26
  Speaker 5: And.
• 56:26
  Speaker 6: Others would choose also to rent it out where they'd
• 56:28
  Speaker 6: be the landlords of their own unit. So I'd pick
• 56:31
  Speaker 6: money from the person living here instead of the owner
• 56:35
  Speaker 6: of the apartment. So that's another booming real estate business.
• 56:39
  Speaker 6: And then we have commercial real estate. Like I said,
• 56:42
  Speaker 6: of course, this is everywhere. It's just you to, again,
• 56:45
  Speaker 6: choice of location. Very important before you set this up.
• 56:49
  Speaker 6: But this video is explaining the same exact things. Actually,
• 56:52
  Speaker 6: I'm talking about the risk to avoid... how the quack
• 56:55
  Speaker 6: lawyers work, quack impersonators. Like you, let's say if you're,
• 56:59
  Speaker 6: let's say John Mosquito in London, he has a land
• 57:02
  Speaker 6: here for 10 years and he's not been seen. Someone
• 57:05
  Speaker 6: is going to come impersonate John Mosquito and sell that
• 57:08
  Speaker 6: land to someone else. And there's nothing that the buyer
• 57:14
  Speaker 6: can do. You know, not you, but the person, if I,
• 57:18
  Speaker 6: if let's say it's me who I took John Mosquito
• 57:21
  Speaker 6: to buy the land and he has the title deed,
• 57:23
  Speaker 6: And he told me to take care of the land
• 57:25
  Speaker 6: because he's not around. Someone else comes and asks for
• 57:27
  Speaker 6: the land. I'm going to sell the land to them.
• 57:29
  Speaker 6: And then I take the money. And there's nowhere they
• 57:32
  Speaker 6: can take me because, again, I think the issue goes
• 57:35
  Speaker 6: back to them. Why don't you have or why aren't
• 57:39
  Speaker 6: you following the rights legal protocols?
• 57:44
  Speaker 3: I mean, you paid, say, almost $ 7, 000. You paid too
• 57:47
  Speaker 3: much deposit and $ 100, 000. Money's gone.
• 57:49
  Speaker 2: A lot of people who are watching right now who
• 57:51
  Speaker 2: live in Lavington, Kilibali, Kieleswa, Ronda, and Karen are.
• 57:55
  Speaker 3: Too exposed to such kind of scams.
• 57:58
  Speaker 2: And this is just to allow them to get to
• 58:00
  Speaker 2: know what to do when they want to rent a unit,
• 58:04
  Speaker 2: ask for documentation, ask for the owner's documentation to prove.
• 58:08
  Speaker 3: That they are the owner of the unit.
• 58:10
  Speaker 6: Place.
• 58:10
  Speaker 2: Or you can use a reputable agent who has mandate
• 58:15
  Speaker 2: to rent that unit.
• 58:17
  Speaker 3: Otherwise, you'll be shooting yourself in the foot.
• 58:19
  Speaker 7: It's true. You know, this is where you have reinvested.
• 58:22
  Speaker 6: Exactly. You'll be shooting yourself because nobody's going to help you.
• 58:29
  Speaker 6: You didn't go to the right lawyer. You didn't go
• 58:33
  Speaker 6: to the right organization or the office that deals with this. So,
• 58:39
  Speaker 6: That is you going on a loss. So you have
• 58:43
  Speaker 6: to be careful with this.
• 58:44
  Speaker 8: I don't know if you've received a message telling you
• 58:48
  Speaker 8: that we have changed our account number.
• 58:50
  Speaker 3: From this to this. Send your rent here.
• 58:55
  Speaker 7: And it's very professional.
• 58:57
  Speaker 3: It's very professional.
• 58:58
  Speaker 7: So if you're not careful, you'll find yourself losing your money.
• 59:02
  Speaker 6: Yeah, but which I don't get. How stupid can you be?
• 59:05
  Speaker 6: I receive those messages a lot. Me too. Many people
• 59:08
  Speaker 6: receive those messages. Oh, I've changed it. account. This month
• 59:12
  Speaker 6: don't pay rent. This year pay here. What? There is
• 59:17
  Speaker 6: a professional message that should be read. And where is
• 59:19
  Speaker 6: my caretaker? Why am I receiving anonymous numbers message? Where
• 59:23
  Speaker 6: is my caretaker? And it's crazy people fall for it
• 59:27
  Speaker 6: and send money to this wrong pay bills or agents.
• 59:33
  Speaker 6: Just because you're too lazy to just ask.
• 59:37
  Speaker 2: Scams are not only on rental units.
• 59:42
  Speaker 3: Scams are all over. Even with offline projects.
• 59:46
  Speaker 6: Does the local courthouse hold deed copies? I'm not really sure.
• 59:52
  Speaker 6: I have to research that. But I'm not really sure.
• 59:57
  Speaker 6: I'm going to be lying. Let me check.
• 59:59
  Speaker 2: An individual starts selling an off-plan project.
• 1:00:06
  Speaker 3: They don't have money to build.
• 1:00:08
  Speaker 2: So they have the concept and the renters and they
• 1:00:12
  Speaker 2: have a land that they have discussed with maybe say
• 1:00:14
  Speaker 2: an owner. They ask you to put a deposit into
• 1:00:16
  Speaker 2: the developer. So you put your monies. Then you put
• 1:00:19
  Speaker 2: your monies, two things may happen.
• 1:00:22
  Speaker 6: Number one, No, they don't. No, no, they don't. No,
• 1:00:29
  Speaker 6: they don't. They say, no, local courthouse in Kenya do
• 1:00:32
  Speaker 6: not hold copies or registries of land copies. Yeah, so
• 1:00:36
  Speaker 6: you just have to go to the Ministry of Land.
• 1:00:38
  Speaker 6: That is where you can find it. And you have
• 1:00:41
  Speaker 6: to go to the magistrate's court. That is the high
• 1:00:43
  Speaker 6: court of Kenya. So local courts do not. Yeah, maybe
• 1:00:48
  Speaker 6: to a lawyer. A lawyer can help you verify that.
• 1:00:51
  Speaker 6: if the title deed is fake, and are a lawyer,
• 1:00:54
  Speaker 6: because we have quacks and plenty of them.
• 1:00:57
  Speaker 3: I'm finishing the project. That's a scam. Number two, they
• 1:01:03
  Speaker 3: just vanish and disappear.
• 1:01:06
  Speaker 2: That's a scam.
• 1:01:08
  Speaker 3: It happens in the market. You drive around, you see
• 1:01:10
  Speaker 3: projects that are stolen. That's a scam. I mean, you've
• 1:01:13
  Speaker 3: put your money, you can't get your money out.
• 1:01:15
  Speaker 7: I think people in diaspora are the ones who are suffering.
• 1:01:17
  Speaker 6: The most when it comes to that.
• 1:01:19
  Speaker 7: Because these people, they know these guys are not around.
• 1:01:22
  Speaker 3: They won't come to check.
• 1:01:23
  Speaker 8: And nowadays it's even hard to trust your relatives.
• 1:01:27
  Speaker 6: Yeah, because even the relative, they'll sell that land. I've seen,
• 1:01:32
  Speaker 6: oh my God, it is always, and it is always
• 1:01:35
  Speaker 6: super sad. There are so many people who have, of course,
• 1:01:39
  Speaker 6: gone for greener pastures. They have been working their ass off. Oh,
• 1:01:42
  Speaker 6: my God. You know, going through all those maybe racism
• 1:01:45
  Speaker 6: and all the hardships. They go maybe working three jobs
• 1:01:49
  Speaker 6: or four jobs or whatever to at least, you know,
• 1:01:53
  Speaker 6: try and build back home. I've seen so many. I've
• 1:01:57
  Speaker 6: seen so many people. Oh, my God. Who send money?
• 1:02:02
  Speaker 6: Even by and they see the land has been bought.
• 1:02:04
  Speaker 6: By the time they come back, the land is sold.
• 1:02:07
  Speaker 6: Or maybe there was no even house built yet. You know, like,
• 1:02:11
  Speaker 6: it's crazy. It's crazy.
• 1:02:13
  Speaker 8: Some time back, who told me the same thing? He
• 1:02:16
  Speaker 8: had bought some time back a certain project. But the project,
• 1:02:21
  Speaker 8: where it was then, that's like five years ago.
• 1:02:25
  Speaker 6: It is not there.
• 1:02:26
  Speaker 3: Same stage. Same stage.
• 1:02:28
  Speaker 6: Oh, it has not. Yeah, so it has not. He's
• 1:02:31
  Speaker 6: been sending money or she's been sending, whoever has been
• 1:02:33
  Speaker 6: sending money, but the project has never been finished yet.
• 1:02:37
  Speaker 6: the person has been receiving money and not doing the project.
• 1:02:40
  Speaker 1: First of all, before investing or putting money in a
• 1:02:44
  Speaker 1: particular project, go and look what their land is for.
• 1:02:49
  Speaker 6: No. For here, that's why I'm sharing their videos, John Mosquito.
• 1:02:56
  Speaker 6: These ones, you don't have to pay them. You see,
• 1:02:59
  Speaker 6: if you're dealing with the right people, you don't have
• 1:03:01
  Speaker 6: to pay them. You see? That's the difference. When it
• 1:03:05
  Speaker 6: comes to land.
• 1:03:09
  Speaker 6: When you're dealing with the right people, that's what they're
• 1:03:12
  Speaker 6: telling you. You won't have to pay a dime. You
• 1:03:18
  Speaker 6: come see the land. You know, you're given the papers.
• 1:03:22
  Speaker 6: You read them, of course. Don't be dumb, assuming. And
• 1:03:26
  Speaker 6: then have a lawyer beside you. That's just how simple
• 1:03:30
  Speaker 6: it is. Number one, the moment someone tells you, give
• 1:03:33
  Speaker 6: me money, that's the first red flag they're telling you.
• 1:03:37
  Speaker 6: When it comes to real estate business or even buying
• 1:03:42
  Speaker 6: a land, don't give anybody money to go see a
• 1:03:47
  Speaker 6: land or to buy a land. The only money you're
• 1:03:51
  Speaker 6: giving is of the land. And ensure you have the
• 1:03:55
  Speaker 6: right title deed. So that is what exactly, and I
• 1:03:59
  Speaker 6: share the right people, the people who are in the
• 1:04:02
  Speaker 6: business itself, the agents themselves themselves. They're telling you, you
• 1:04:06
  Speaker 6: don't have to. And they're giving you also the good
• 1:04:10
  Speaker 6: lawyer companies, you know, advocate companies you can work with
• 1:04:15
  Speaker 6: in Kenya. And I believe that works across Africa. We're
• 1:04:17
  Speaker 6: going to find, of course, these people, legit, their offices exist,
• 1:04:21
  Speaker 6: they are real. You can go there and everything is
• 1:04:25
  Speaker 6: done correctly and professionally.
• 1:04:27
  Speaker 3: First go and look. have they done, how many now
• 1:04:31
  Speaker 3: projects have they done?
• 1:04:32
  Speaker 5: Okay.
• 1:04:32
  Speaker 1: They have done, I normally recommend investing somebody who has
• 1:04:35
  Speaker 1: done more, three, four and above.
• 1:04:36
  Speaker 3: Yeah. Five, even a better project. Yeah. Because now there's confidence. Confidence.
• 1:04:40
  Speaker 3: You know, they deliver. Mm-hmm. Then go see the quality.
• 1:04:43
  Speaker 3: How are they looking? Yeah. Go to the first project.
• 1:04:46
  Speaker 3: It's been maybe, maybe 10 years ago. Yeah.
• 1:04:48
  Speaker 1: Are they still firm? Are they still solid? Are the materials,
• 1:04:51
  Speaker 1: you know, crumbling? Go check, go check. Once you have
• 1:04:54
  Speaker 1: that confidence that they've done the previous projects, now we
• 1:04:57
  Speaker 1: can proceed.
• 1:04:58
  Speaker 3: And also here, Mm-hmm. Not only that, you also need
• 1:05:01
  Speaker 3: to get to check if for sure they have the money.
• 1:05:05
  Speaker 3: Check if there is approval funds.
• 1:05:07
  Speaker 2: And even documents like approvals. You need to check the
• 1:05:13
  Speaker 2: approvals as well. Just do your task on them to
• 1:05:15
  Speaker 2: get to know if they have the money. They have
• 1:05:17
  Speaker 2: a repeatable track record and they have, you know, approvals.
• 1:05:21
  Speaker 3: Yes. In terms of that kind of project. Even the contractor.
• 1:05:24
  Speaker 3: Who's the contractor? What have they done before?
• 1:05:26
  Speaker 1: If it's a person contractor, there's another way also you
• 1:05:29
  Speaker 1: can be scammed. Documents are okay. The project is running.
• 1:05:34
  Speaker 1: The handover has been done.
• 1:05:36
  Speaker 3: Why not use the cash? After two years, your house
• 1:05:39
  Speaker 3: is crumbling down.
• 1:05:41
  Speaker 6: Fake material. Exactly. That is another thing. you have to
• 1:05:45
  Speaker 6: watch out for that fake materials.
• 1:05:48
  Speaker 1: Issues, plumbing issues, molding on the walls, fixing your property
• 1:05:54
  Speaker 1: every other month and all that.
• 1:05:57
  Speaker 3: That is common in this market.
• 1:05:58
  Speaker 6: Yep, and that's a bad deal there too. Exactly. You
• 1:06:02
  Speaker 6: can have everything correctly. You have the right title deed.
• 1:06:06
  Speaker 6: You have a place, of course, of demand. You've found
• 1:06:10
  Speaker 6: a place that has high demand there. you have everything,
• 1:06:14
  Speaker 6: all the six risks I've talked about, but now done correctly, right?
• 1:06:19
  Speaker 6: But the people you've hired for the construction, they end up,
• 1:06:23
  Speaker 6: of course, as a scam, you know, when it comes
• 1:06:25
  Speaker 6: to the material. That is another big scam, by the way,
• 1:06:28
  Speaker 6: that happens in Africa a lot.
• 1:06:32
  Speaker 3: Make the money as fast as possible. They move so fast.
• 1:06:35
  Speaker 2: Clients also need to work with reputable.
• 1:06:40
  Speaker 6: Especially if a project is done super quick in a minimum...
• 1:06:44
  Speaker 6: Because there is, of course, a time. I believe there
• 1:06:49
  Speaker 6: should be a max and minimum time when it comes
• 1:06:52
  Speaker 6: to construction or building. If someone does it less than
• 1:06:58
  Speaker 6: the expected time, doubt that it's going to fall. This
• 1:07:02
  Speaker 6: is why we have buildings falling, you know, killing people
• 1:07:05
  Speaker 6: inside it because this building, number one, the choice of
• 1:07:10
  Speaker 6: area again, maybe should not be carrying the stalls it has.
• 1:07:14
  Speaker 6: Let's say if it's six, it should only maybe carry
• 1:07:17
  Speaker 6: two or can only hold two because probably the place
• 1:07:22
  Speaker 6: where the land is located, there's water. So many things
• 1:07:26
  Speaker 6: lead to all this type of, you know, The risks.
• 1:07:31
  Speaker 2: Players, they need to work with reputable developers because they
• 1:07:34
  Speaker 2: end up losing money into these cheap, finished properties in
• 1:07:37
  Speaker 2: the market which they do not even appreciate. They lose
• 1:07:40
  Speaker 2: value in the next year or two. It looks like
• 1:07:42
  Speaker 2: it's 20 years old. I mean, it doesn't make sense.
• 1:07:45
  Speaker 3: This loss of money is a scam.
• 1:07:47
  Speaker 1: Also, as an investor or a purchaser, the mistake also
• 1:07:52
  Speaker 1: is normally done. Also, you know, sometimes you also need
• 1:07:54
  Speaker 1: to take the blame. Once you invest in something, don't
• 1:07:57
  Speaker 1: just go. Always return back to the project and check.
• 1:08:01
  Speaker 1: It is your right to come and check, see the progress.
• 1:08:05
  Speaker 1: Don't just wait for photos or wait until completion is done.
• 1:08:10
  Speaker 7: Walk in.
• 1:08:10
  Speaker 1: On a Sunday, just go. After church or whatever, pass by,
• 1:08:14
  Speaker 1: look at the project. On a Saturday evening, request for
• 1:08:16
  Speaker 1: you to have access, even until.
• 1:08:20
  Speaker 2: We even said in the office that we are not
• 1:08:23
  Speaker 2: going to work with everyone. We are going to work
• 1:08:25
  Speaker 2: with few developers who are serious, who are reputable, who
• 1:08:30
  Speaker 2: promise and deliver. Because our name also is on the line.
• 1:08:34
  Speaker 6: Exactly. And that's why we go back to strategy. Man,
• 1:08:38
  Speaker 6: that is something I've learned so hard. Hard, hard, hard, hard, hard.
• 1:08:43
  Speaker 5: Hard.
• 1:08:43
  Speaker 6: And hey! Never put yourself into something that doesn't have strategy.
• 1:08:51
  Speaker 10: Never.
• 1:08:52
  Speaker 2: Ever.
• 1:08:53
  Speaker 6: Don't even offer to something that doesn't have a strategy
• 1:08:57
  Speaker 6: of growth or nothing.
• 1:09:12
  Speaker 6: our clients.
• 1:09:16
  Speaker 3: Interest too. Very true.
• 1:09:18
  Speaker 8: And this is why we usually tell our clients to
• 1:09:22
  Speaker 8: invest here, not here. But you find sometimes clients, they
• 1:09:26
  Speaker 8: love a particular.
• 1:09:28
  Speaker 3: Project, maybe because of the renders or something.
• 1:09:31
  Speaker 8: And they fall in love with it to a point
• 1:09:33
  Speaker 8: they go behind you to try and purchase the project.
• 1:09:37
  Speaker 3: Then later on, they'll be like.
• 1:09:38
  Speaker 7: I wish.
• 1:09:40
  Speaker 2: So.
• 1:09:42
  Speaker 3: There is something that I want us to talk about.
• 1:09:44
  Speaker 3: Can we resell? Can we resell? Exactly.
• 1:09:49
  Speaker 8: So I think it's good for you to listen to
• 1:09:51
  Speaker 8: your experienced realtors because they can guide you. They have
• 1:09:56
  Speaker 8: experience in the market. They know how these developers operate.
• 1:09:59
  Speaker 8: Who is the right developer? Who is not the right developer?
• 1:10:02
  Speaker 8: So talking about experienced realtors.
• 1:10:03
  Speaker 3: Yes. There's also a scam around that area.
• 1:10:11
  Speaker 1: I see.
• 1:10:11
  Speaker 6: You're asking, does Kenya have build codes? What do you
• 1:10:15
  Speaker 6: mean by codes? Let me see. I've got to understand.
• 1:10:18
  Speaker 6: Build codes, wiring and plumbering. Do you mean like stalls
• 1:10:26
  Speaker 6: that sell that? No? Let me check. Keith, you're going
• 1:10:33
  Speaker 6: to go back to the comment section.
• 1:10:34
  Speaker 3: Individuals impersonating those... those experienced realtors.
• 1:10:41
  Speaker 2: Then the scam clients, they pretend to be those individuals
• 1:10:45
  Speaker 2: who have got a track record, they have a name
• 1:10:47
  Speaker 2: to protect, and they say, you know what, I work
• 1:10:49
  Speaker 2: for this company, I work for company AXYO. So clients
• 1:10:52
  Speaker 2: also need to confirm if for sure they are fully
• 1:10:56
  Speaker 2: affiliated with the company. Someone will come to you and say,
• 1:10:59
  Speaker 2: you know what, I work with multibodies. Kindly, you have
• 1:11:01
  Speaker 2: my number. My number is all over. Call me and
• 1:11:03
  Speaker 2: confirm with me if for sure they work with us
• 1:11:06
  Speaker 2: or not. Because some people walk around here scamming clients.
• 1:11:09
  Speaker 2: And imagine somebody scams with my....
• 1:11:12
  Speaker 3: Sure.
• 1:11:12
  Speaker 8: Boris, I don't know if you can remember that sometime back,
• 1:11:14
  Speaker 8: someone called and he said he was working for Realty Boris.
• 1:11:18
  Speaker 6: Oh, yes, I see. We do have that. Yes, we
• 1:11:20
  Speaker 6: do have that. But again, of course, you know, in
• 1:11:22
  Speaker 6: the market, we never lack. You know, we do. You know,
• 1:11:26
  Speaker 6: in the market, we never lack, of course. Again, like
• 1:11:28
  Speaker 6: they're talking about scammers because they're there. You know, there
• 1:11:32
  Speaker 6: are people who have also gotten into because I see
• 1:11:34
  Speaker 6: the building code is a set of mandatory rules, laws
• 1:11:38
  Speaker 6: and standards that regulate the design, construction, materials. and occupancy
• 1:11:44
  Speaker 6: structures and insurance to ensure public safety, health, and general welfare. Yes,
• 1:11:49
  Speaker 6: we do have that, but still, trust me, people go
• 1:11:52
  Speaker 6: against that. Yes, people still go against that. They still
• 1:11:57
  Speaker 6: go against that. Just like if you look at the
• 1:11:59
  Speaker 6: history of Nairobi City itself, I came to understand actually
• 1:12:03
  Speaker 6: the reason why it flooded because Nairobi City was not
• 1:12:07
  Speaker 6: supposed to be where it is because that land... um
• 1:12:12
  Speaker 6: literally they were told it has too much water like
• 1:12:16
  Speaker 6: it cannot you know it has that i think it
• 1:12:19
  Speaker 6: had this too much water if i can remember the
• 1:12:21
  Speaker 6: history correctly or the story correctly there's too much water
• 1:12:24
  Speaker 6: underground to either hold the houses or it's not just
• 1:12:29
  Speaker 6: suitable for high buildings and all that but didn't they
• 1:12:33
  Speaker 6: just go against it they decided to do it anyway.
• 1:12:38
  Speaker 3: He didn't know he was calling someone from real Tivoli now.
• 1:12:42
  Speaker 3: That's a scam.
• 1:12:43
  Speaker 2: And a clown would end up trusting that individual. Maybe
• 1:12:45
  Speaker 2: buy it through with that individual. Maybe even send them money. True.
• 1:12:50
  Speaker 7: And even their profile picture was our logo.
• 1:12:54
  Speaker 2: I even called the guy and told him, you know what,
• 1:12:56
  Speaker 2: you drop the logo or.
• 1:12:58
  Speaker 3: We sue you. You have to drop it. I remember that.
• 1:13:00
  Speaker 3: And that's what we normally advise.
• 1:13:04
  Speaker 1: Come for a consultation first before we go to the market.
• 1:13:08
  Speaker 1: Come to your offices. Let's sit down. Again, let's have
• 1:13:13
  Speaker 1: a cup of coffee. One on one.
• 1:13:18
  Speaker 6: Exactly. Because I remember even a good example is also
• 1:13:21
  Speaker 6: William in Tanzania where we have the restaurant being built.
• 1:13:26
  Speaker 6: The Black Hot Fire Network restaurant being built. And I
• 1:13:31
  Speaker 6: remember before Us being taken, you know, seeing everything. That
• 1:13:35
  Speaker 6: was the same thing. Sit down, you know, have coffee. Exactly.
• 1:13:39
  Speaker 6: Let you be taken through this, you know, how it
• 1:13:42
  Speaker 6: can benefit you. You know, everything, literally. And that is
• 1:13:47
  Speaker 6: what exactly they're saying. Not someone telling you, give me
• 1:13:51
  Speaker 6: money so I can take you to this space.
• 1:13:53
  Speaker 3: We never tell our clients, let us meet at this
• 1:13:55
  Speaker 3: petrol station. No. And then people say, let's meet and actually...
• 1:13:58
  Speaker 3: And then you proceed. No, no, no. We don't work
• 1:14:00
  Speaker 3: like that. Come see us.
• 1:14:02
  Speaker 5: Yes.
• 1:14:02
  Speaker 3: Even meet our boss.
• 1:14:03
  Speaker 5: Yes.
• 1:14:03
  Speaker 3: Meet Mr. Makonji.
• 1:14:04
  Speaker 5: Yes.
• 1:14:05
  Speaker 3: Meet our receptionist. Very true. Everyone.
• 1:14:07
  Speaker 1: So that we see where this content, where it's coming from.
• 1:14:09
  Speaker 1: So that we can be able to get confidence.
• 1:14:12
  Speaker 7: Yeah.
• 1:14:12
  Speaker 1: You know, we just don't rush the process. There's a
• 1:14:15
  Speaker 1: process we need to follow.
• 1:14:17
  Speaker 3: Yeah. And once you get to understand that. It protects you.
• 1:14:21
  Speaker 3: With the end, you're getting your keys.
• 1:14:23
  Speaker 6: Trust me. I can't even believe it. I'm telling you,
• 1:14:25
  Speaker 6: growth is really important. I don't even believe I'm discussing this. Like,
• 1:14:28
  Speaker 6: I'm just looking at what I'm listening and what I'm
• 1:14:30
  Speaker 6: sharing with you guys. It's really, growth is really super amazing.
• 1:14:35
  Speaker 6: You know, it's super amazing. Because I never, never, ever
• 1:14:41
  Speaker 6: used to understand nothing about real estate. But trust me, again,
• 1:14:45
  Speaker 6: we're learning together. Because, yes, I know a few things
• 1:14:49
  Speaker 6: here about land here and there. But this is something
• 1:14:52
  Speaker 6: I have zero doubt. Because a few experiences of maybe
• 1:14:56
  Speaker 6: just me being in Tanzania, but not personal experience or knowledge.
• 1:15:00
  Speaker 6: So it's actually super, super amazing to learn all this together.
• 1:15:04
  Speaker 3: To move into your house, you'll say, thank you, Mr. Ian,
• 1:15:07
  Speaker 3: thank you, Mr. Boris, thank you, Mr. Makonjiwo.
• 1:15:09
  Speaker 2: I'm happy.
• 1:15:10
  Speaker 3: Very true.
• 1:15:10
  Speaker 2: And then, I don't say that those agents who don't
• 1:15:16
  Speaker 2: have offices are not reputable.
• 1:15:19
  Speaker 3: I'm saying if an agent can try so hard and
• 1:15:22
  Speaker 3: even have an address... where they can be found, that's confidence.
• 1:15:27
  Speaker 2: Our clan believes if I leave for the US and
• 1:15:29
  Speaker 2: come back, this guy will still be here. And so therefore,
• 1:15:33
  Speaker 2: I think my man is a safe with the person
• 1:15:36
  Speaker 2: they direct me to.
• 1:15:37
  Speaker 6: Yeah, so you need to also clarify, check the agency
• 1:15:40
  Speaker 6: you're dealing with. Do they have a physical office? Ensure
• 1:15:44
  Speaker 6: you know the area, familiarize with it. Maybe take pictures
• 1:15:47
  Speaker 6: if you're gone or you're going to be gone for
• 1:15:50
  Speaker 6: long before you come back. Bye for now.
• 1:15:53
  Speaker 3: So this address is just confidence. It's reputation. It signals
• 1:15:59
  Speaker 3: that we're here to stay and die here.
• 1:16:02
  Speaker 2: So I think it's important for even clients to come
• 1:16:06
  Speaker 2: and get to verify and see where we're at, just
• 1:16:08
  Speaker 2: to also give them confidence, to show them that we're
• 1:16:11
  Speaker 2: here to serve them, to show them that we're not.
• 1:16:14
  Speaker 3: Going to run away with their transactions, with their monies.
• 1:16:17
  Speaker 6: Exactly, because... ah, these are very jokes some people have
• 1:16:22
  Speaker 6: been making and, you know, yeah, you got to just
• 1:16:25
  Speaker 6: be careful. You never know. Someone might wake up and
• 1:16:28
  Speaker 6: run away. Be careful.
• 1:16:30
  Speaker 3: Yeah, properties. That's very, very important. But then again, somebody's
• 1:16:33
  Speaker 3: buying property and they just buy it for the sake
• 1:16:39
  Speaker 3: of buying it.
• 1:16:40
  Speaker 2: I was, we were doing a transaction, remember, the other
• 1:16:43
  Speaker 2: day in Karen.
• 1:16:45
  Speaker 10: Yes.
• 1:16:45
  Speaker 3: We only just sold for $ 150 million.
• 1:16:47
  Speaker 10: And, uh, we advised the purchaser to send, you know,
• 1:16:54
  Speaker 10: a valuer to go and value the property before they proceed.
• 1:16:57
  Speaker 3: It's very important.
• 1:16:58
  Speaker 2: I told them, you know what, go do check, send
• 1:17:02
  Speaker 2: someone to go and do valuation and get to, you know,
• 1:17:06
  Speaker 2: confirm the survey report and everything. The client did that,
• 1:17:10
  Speaker 2: sent the individual, checked everything, everything was checked and ticked.
• 1:17:14
  Speaker 2: But then sometimes we find when a buyer wants to buy,
• 1:17:18
  Speaker 2: he or she is furnished with fake valuation reports.
• 1:17:23
  Speaker 6: Exactly. So I think this is actually for me, I'd
• 1:17:26
  Speaker 6: say for me would apply. Actually, it's very important on
• 1:17:30
  Speaker 6: all angles. The four different real estate investments, whether it's commercial,
• 1:17:40
  Speaker 6: whether it's property development, buying and reselling of land or
• 1:17:44
  Speaker 6: rental property. But I'd say this would work so well
• 1:17:47
  Speaker 6: for someone. And again, if the price, if by the
• 1:17:56
  Speaker 6: time you sell, the price and the demand will match
• 1:18:00
  Speaker 6: the market condition and support the increase. This is the
• 1:18:03
  Speaker 6: buying and selling of land, you know, where the evaluation
• 1:18:06
  Speaker 6: is really, really important because you don't want to sell
• 1:18:09
  Speaker 6: your land less what you bought it. You want to
• 1:18:13
  Speaker 6: sell it more. than you bought it. So, yeah, real
• 1:18:18
  Speaker 6: evaluation also is really good. But in all, in four
• 1:18:23
  Speaker 6: of them, literally, because if you're trying to buy or
• 1:18:26
  Speaker 6: own a land for all the four businesses instead of
• 1:18:29
  Speaker 6: buying the property, then good.
• 1:18:31
  Speaker 3: If you want to buy something, you can even do
• 1:18:33
  Speaker 3: pollution by yourself.
• 1:18:35
  Speaker 2: And some crooks and some scammers will give you fake
• 1:18:38
  Speaker 2: reports and fake pollution reports and survey reports just to
• 1:18:41
  Speaker 2: win you so fast, to give you, to overvalue you.
• 1:18:44
  Speaker 5: Right?
• 1:18:45
  Speaker 2: To evaluate, to make it look like it's a serious one,
• 1:18:47
  Speaker 2: it's a good investment, then you.
• 1:18:49
  Speaker 3: Lose your money. Then you lose your money.
• 1:18:50
  Speaker 1: And you see, also as the investor, work, be present
• 1:18:54
  Speaker 1: through the process. Don't just be sending people at your own,
• 1:18:57
  Speaker 1: let me send this value and I'm not there. When
• 1:18:59
  Speaker 1: the value is cutting, also you need to be there.
• 1:19:01
  Speaker 6: And this is why I say this kind of information
• 1:19:03
  Speaker 6: education is important in school because you If I go
• 1:19:07
  Speaker 6: buy a land today, trust me, I don't know the
• 1:19:09
  Speaker 6: evaluation of a land I'm going to be buying. If it,
• 1:19:11
  Speaker 6: let's say it's 2.5 acres today, I'll need a real,
• 1:19:16
  Speaker 6: you know, someone who has, you know, a real evaluator, right?
• 1:19:19
  Speaker 6: Who can actually evaluate this land for me. And again,
• 1:19:25
  Speaker 6: I have to, I have to, they have to not
• 1:19:27
  Speaker 6: be quacks. You know, they have to be legit people
• 1:19:31
  Speaker 6: I'm dealing with, you know? So this is actually... Wow, yeah.
• 1:19:36
  Speaker 3: Because you can be told this unit is sitting on
• 1:19:39
  Speaker 3: a quarter.
• 1:19:40
  Speaker 6: It's not a quarter, yeah.
• 1:19:41
  Speaker 3: I can tell you that from this wall to this wall,
• 1:19:44
  Speaker 3: maybe it's 7 meters.
• 1:19:45
  Speaker 6: And it's not?
• 1:19:46
  Speaker 3: 6.9 or 6.8.
• 1:19:48
  Speaker 6: Yeah, so selling you fake evaluation.
• 1:19:51
  Speaker 1: The way you can measure, be there so that you
• 1:19:54
  Speaker 1: can also confirm. If it is 7, if the frequency
• 1:19:56
  Speaker 1: is 7, it is 7.
• 1:19:58
  Speaker 3: If it is 6, it is 6. But just don't.
• 1:20:00
  Speaker 1: Assume that because all you use your eyes just to
• 1:20:03
  Speaker 1: to range or to gauge.
• 1:20:07
  Speaker 3: I think there's another mistake that buyers usually do.
• 1:20:11
  Speaker 7: They ask the owner for value.
• 1:20:14
  Speaker 3: Oh yeah, I see. So you ask me, To give
• 1:20:17
  Speaker 3: you a value. And I'm selling you the unit.
• 1:20:19
  Speaker 6: It can't work. Of course they're going to bring someone fake.
• 1:20:22
  Speaker 5: Of course. Exactly.
• 1:20:23
  Speaker 3: Exactly.
• 1:20:24
  Speaker 6: Exactly.
• 1:20:24
  Speaker 5: Exactly.
• 1:20:41
  Speaker 2: Work with this guy, independent valuer, let them come and
• 1:20:44
  Speaker 2: check the property, let them come and do this, blah, blah, blah,
• 1:20:46
  Speaker 2: then we work with that.
• 1:20:47
  Speaker 3: There's no conflict of interest. That happens mostly if there is.
• 1:20:50
  Speaker 2: A conflict of interest and the buyer wants to sell
• 1:20:53
  Speaker 2: the property very first, they'll do that and they'll scam you.
• 1:20:55
  Speaker 2: You end up buying something that was going for 100
• 1:20:58
  Speaker 2: million at 150, 130 million because you were furnished with
• 1:21:02
  Speaker 2: fake valuation reports. But then also on the other side,
• 1:21:06
  Speaker 2: we have hidden legal issues.
• 1:21:07
  Speaker 3: I just come again.
• 1:21:10
  Speaker 2: Where a property has, maybe say, you know, some encumbrance
• 1:21:14
  Speaker 2: as a caveat and all these things, and you never
• 1:21:17
  Speaker 2: get to know because you're rushing the process. My advice
• 1:21:20
  Speaker 2: to buyers who are buying, it's for them to take
• 1:21:23
  Speaker 2: their time and work still with that reputable lawyer to
• 1:21:27
  Speaker 2: help them check if the property has got any encumbrance.
• 1:21:30
  Speaker 2: Maybe it is charged. Maybe it has a caveat. You know,
• 1:21:34
  Speaker 2: that is the work of your lawyer.
• 1:21:36
  Speaker 7: It's true, and I think it applies mostly when it
• 1:21:37
  Speaker 7: comes to land.
• 1:21:38
  Speaker 6: Yes, of course.
• 1:21:40
  Speaker 8: You find the piece of land that has been in
• 1:21:42
  Speaker 8: court for the last 10 years.
• 1:21:45
  Speaker 6: Yeah, because if you're dealing with, let's say, property on
• 1:21:48
  Speaker 6: the land, that's a different case. You're dealing with the
• 1:21:50
  Speaker 6: person who owns the property. That is the person who
• 1:21:53
  Speaker 6: owns the land. So what you're buying actually is the
• 1:21:56
  Speaker 6: property but not the land. Is it true? Yeah, yeah, yeah.
• 1:22:01
  Speaker 6: I don't think they sell you the land unless you're
• 1:22:03
  Speaker 6: buying all of it. But I don't think most people
• 1:22:06
  Speaker 6: actually can afford the land. But I don't know. We're
• 1:22:10
  Speaker 6: learning together.
• 1:22:11
  Speaker 3: It's been a very long period of time, so people
• 1:22:14
  Speaker 3: are not very serious about it. Exactly. People, they forget.
• 1:22:18
  Speaker 8: So if you don't work with a good lawyer, as
• 1:22:20
  Speaker 8: you've just mentioned, you'll just find yourself.
• 1:22:22
  Speaker 6: Yeah, I believe if you're buying property already on the land,
• 1:22:25
  Speaker 6: you should buy together with the land, which actually will
• 1:22:28
  Speaker 6: come at a very high cost, but a good deal.
• 1:22:32
  Speaker 6: And again, choice of location. And what are you really buying?
• 1:22:38
  Speaker 3: You pay, then later on you realize, oh no.
• 1:22:41
  Speaker 1: Also, as an investor or a purchaser, sometimes you want
• 1:22:46
  Speaker 1: to not pay for professional advice or professional consultancy because
• 1:22:51
  Speaker 1: you want to save money. But in real sense, you
• 1:22:53
  Speaker 1: don't know what it's going to cost you. Another good
• 1:22:56
  Speaker 1: example is a property that has been charged by the bank.
• 1:23:00
  Speaker 1: You know, you're buying a property that has, you know,
• 1:23:03
  Speaker 1: it's being held by the bank.
• 1:23:04
  Speaker 6: Which is fine.
• 1:23:06
  Speaker 3: In fact, it's good. If a property is charged by
• 1:23:09
  Speaker 3: the bank, it's good. In fact, I've.
• 1:23:11
  Speaker 2: Seen this mostly from these wealthy individuals. When they buy
• 1:23:14
  Speaker 2: a property, they charge them to the bank. You know,
• 1:23:19
  Speaker 2: it's difficult to, how do you call it? to play
• 1:23:22
  Speaker 2: around bank properties. So they do that to safeguard their
• 1:23:27
  Speaker 2: real estate for people not to grab their property. So
• 1:23:30
  Speaker 2: if it's charged, it's easy. You just pay back the
• 1:23:33
  Speaker 2: loan and the bank leaves the charge. In fact, if
• 1:23:36
  Speaker 2: I see that the bank has been charged, that's quick.
• 1:23:39
  Speaker 3: So that's a bonus. It's a bonus.
• 1:23:41
  Speaker 2: If your land is charged by the bank and you
• 1:23:45
  Speaker 2: want to sell it, and someone.
• 1:23:46
  Speaker 3: Is going to buy.
• 1:23:47
  Speaker 6: I mean, it's killing.
• 1:23:48
  Speaker 5: Yeah.
• 1:23:48
  Speaker 3: It's the buyer. Yeah. It's KCP, it's equity, it's standard.
• 1:23:53
  Speaker 3: It's not someone, it's someone else.
• 1:23:54
  Speaker 7: Yeah, that's true.
• 1:23:55
  Speaker 3: Of course.
• 1:23:56
  Speaker 6: That's true.
• 1:23:58
  Speaker 3: It means, if you're buying from me, you pay me,
• 1:24:02
  Speaker 3: I lift the charge up. I pay this guy, I
• 1:24:03
  Speaker 3: lift the charge up.
• 1:24:05
  Speaker 6: Which I had another video, but I see time is
• 1:24:07
  Speaker 6: not going to allow us, which was now explaining further,
• 1:24:10
  Speaker 6: is it wise to take a loan to build actually
• 1:24:13
  Speaker 6: rentals or rather real estate? But again, like I said,
• 1:24:17
  Speaker 6: it goes back to my big risks just to, because
• 1:24:21
  Speaker 6: I don't have time to share all of it like
• 1:24:23
  Speaker 6: the other video I'd say. I'll go back to my,
• 1:24:28
  Speaker 6: the big risks to avoid. That is number four, borrowing
• 1:24:32
  Speaker 6: too much money. Where loan payments continue even when tenants
• 1:24:36
  Speaker 6: stop paying or property remain vacant. Rising financing costs can
• 1:24:41
  Speaker 6: also damage tenants. cash flow instead stress test your budget
• 1:24:47
  Speaker 6: for several months without rent high interest cost and unexpected
• 1:24:51
  Speaker 6: repairs keep emergency funds separate from your deposit so yeah
• 1:24:56
  Speaker 6: that's the only way i believe you can be able
• 1:24:59
  Speaker 6: to maybe and maybe how he's explaining he's kind of
• 1:25:02
  Speaker 6: breaking it down i do believe yes if you're dealing
• 1:25:04
  Speaker 6: with the bank um it's not that risky but how
• 1:25:09
  Speaker 6: much are you paying again Go back to your pocket.
• 1:25:12
  Speaker 2: It is a transaction of around 270 million in Westlands,
• 1:25:16
  Speaker 2: if I'm not wrong. And the property was, land was charged.
• 1:25:20
  Speaker 2: And it was beautiful, very easy. I said, Boris, you
• 1:25:23
  Speaker 2: know what, my, oh no, Boris, you know what, the
• 1:25:26
  Speaker 2: land doesn't charge. So if your client is serious, let
• 1:25:30
  Speaker 2: them pay, then we give you the charge.
• 1:25:33
  Speaker 9: Seriously, that's my serious plan. I said, Boris, charge no problem.
• 1:25:40
  Speaker 9: Let me ask you something. So, for the owner, it is, um,
• 1:25:46
  Speaker 9: a way to protect their assets.
• 1:25:48
  Speaker 2: Yes. When you get to become a billionaire or a multi-billionaire,
• 1:25:51
  Speaker 2: you buy an estate and you are worried of Lali Dabi,
• 1:25:55
  Speaker 2: just go charge it in your bank.
• 1:25:56
  Speaker 3: Take a loan against it. A small loan. Which you'll
• 1:25:59
  Speaker 3: pay for a little bit. Ah, for a little bit.
• 1:26:01
  Speaker 6: It's smart.
• 1:26:02
  Speaker 3: Okay, that means you have lots of money.
• 1:26:04
  Speaker 6: Yeah, so, basically, I'm going to stop it at that, but, uh,
• 1:26:09
  Speaker 6: Let me know if you'd love me to share the
• 1:26:11
  Speaker 6: rest of the video. It has like 10, actually I'd
• 1:26:15
  Speaker 6: say 15 minutes, 10, 15 minutes left of it. A
• 1:26:20
  Speaker 6: very interesting conversation, but the most key important points have
• 1:26:25
  Speaker 6: been given. Again, what to avoid, protocols to follow, the benefits,
• 1:26:33
  Speaker 6: which I believe if you are well-planned with strategy, Again,
• 1:26:39
  Speaker 6: like I've said, in this grown age of mine, I've
• 1:26:42
  Speaker 6: understood this. Even for myself, anything I put myself into
• 1:26:46
  Speaker 6: that doesn't have a strategy from henceforth, like in any
• 1:26:51
  Speaker 6: sort of way, I don't want it. Why should I
• 1:26:53
  Speaker 6: even put myself in something that doesn't have a strategy?
• 1:26:57
  Speaker 6: Because I believe anything without a strategy collapses. It will collapse.
• 1:27:04
  Speaker 6: Anything that is built with zero strategy... eventually does collapse
• 1:27:10
  Speaker 6: because what are you doing is always the question you're
• 1:27:14
  Speaker 6: going to be asking not only yourself the builder the
• 1:27:19
  Speaker 6: buyer the inventor or whatever you know you need to
• 1:27:23
  Speaker 6: have a strategy you know it's like let's say the
• 1:27:27
  Speaker 6: person who built a clock if they built a clock
• 1:27:29
  Speaker 6: without understanding people need to actually check time what would
• 1:27:33
  Speaker 6: have been the clock for that's just a good and
• 1:27:36
  Speaker 6: a good example to just you know, put it that way.
• 1:27:39
  Speaker 6: But as we wind up with today's conversation, I hope
• 1:27:42
  Speaker 6: you guys have enjoyed. That is Business Thursday. Of course,
• 1:27:46
  Speaker 6: today we're talking about real estate investment, how to make money,
• 1:27:50
  Speaker 6: avoid scams, which you see it's actually a very heavy
• 1:27:53
  Speaker 6: forecast point of this conversation because so many people have
• 1:27:58
  Speaker 6: been scammed. That is the reality. You have to do research.
• 1:28:02
  Speaker 6: You have to look at your money. Don't put yourself
• 1:28:04
  Speaker 6: into something that again, will take you to one of
• 1:28:07
  Speaker 6: another point we've just mentioned. You know, leaving stores unfinished,
• 1:28:13
  Speaker 6: you know, like leaving projects unfinished because you put yourself
• 1:28:18
  Speaker 6: into something so heavy for yourself that you can't even
• 1:28:21
  Speaker 6: finish this, you know. So you don't want to do that.
• 1:28:24
  Speaker 6: You don't really want to do that. Hello to you too.
• 1:28:27
  Speaker 6: Jiba jaba. Karibu sana. You're doing amazing. Karibu. And yes,
• 1:28:33
  Speaker 6: I see you're saying that, put in a timely clause
• 1:28:38
  Speaker 6: if project benchmarks aren't made on time. On time, the
• 1:28:44
  Speaker 6: contractor forfeits the money. I guess you mean get done
• 1:28:49
  Speaker 6: ahead of schedule and bonus is paid. Exactly, exactly. I
• 1:28:53
  Speaker 6: do agree with you with that. Shout out to you,
• 1:28:55
  Speaker 6: John Mosquito. Hope you're doing great. You're amazing today, too.
• 1:29:00
  Speaker 6: I think I did answer that. And then I also
• 1:29:03
  Speaker 6: see a saying, if I put an Airbnb next to
• 1:29:06
  Speaker 6: a church, too much hollering. Of course, you don't want that.
• 1:29:09
  Speaker 6: That is something else you have to check if you're
• 1:29:12
  Speaker 6: trying to get yourself into an Airbnb business. You have
• 1:29:15
  Speaker 6: to give a good experience. Last week, I talked about
• 1:29:18
  Speaker 6: also experience. You don't want to put a business that
• 1:29:22
  Speaker 6: has shitty experience. You want to give or put up
• 1:29:26
  Speaker 6: a business that has beautiful experience. experience alive experience actually
• 1:29:31
  Speaker 6: to be specific alive is the world is the word
• 1:29:35
  Speaker 6: and then i also see a saying does the local
• 1:29:38
  Speaker 6: courthouse hold deed copies like i said no they don't
• 1:29:42
  Speaker 6: that's only the high court of kenya and um what
• 1:29:47
  Speaker 6: else they say the high court of kenya and yeah
• 1:29:50
  Speaker 6: the ministry of lands yes the ministry of lands and
• 1:29:53
  Speaker 6: then we also have saying does the okay okay i'm
• 1:29:57
  Speaker 6: remove this uh-huh does kenya have okay i mentioned also
• 1:30:05
  Speaker 6: mentioned that same here yeah you gotta watch uh for
• 1:30:09
  Speaker 6: shitty contractors to evade codes exactly and then saying you're
• 1:30:15
  Speaker 6: the boss now you know the cost man man i
• 1:30:19
  Speaker 6: many costs many many costs i'm telling you and i
• 1:30:23
  Speaker 6: also see john mostre says this is where you need
• 1:30:26
  Speaker 6: to do your own evaluation to get your rough idea
• 1:30:30
  Speaker 6: of property prices And that's what I'm saying. Due to
• 1:30:32
  Speaker 6: bad education, especially in Africa, not so many people can
• 1:30:35
  Speaker 6: evaluate a land, you know. That is just a fact.
• 1:30:38
  Speaker 6: Not so many people can evaluate a land. That's why
• 1:30:41
  Speaker 6: you find so many people would be scammed. You've been
• 1:30:43
  Speaker 6: sold maybe minimal of what you've been told, you know.
• 1:30:46
  Speaker 6: You've been told this is six acres, while it's actually
• 1:30:50
  Speaker 6: four acres, you know. And you've paid a six-acre amount
• 1:30:55
  Speaker 6: way more than what you should have paid for four acres,
• 1:30:58
  Speaker 6: you know. It's crazy. But Jerry Bajaba says, do this
• 1:31:06
  Speaker 6: for any business asset. Price versus expected generated income. Land, vehicle, building,
• 1:31:12
  Speaker 6: even a wheelbarrow. And then says, no, sometimes it is
• 1:31:18
  Speaker 6: a separate deal. Building versus land. Yeah, sometimes it is
• 1:31:22
  Speaker 6: a separate deal. I know. But I only want to
• 1:31:25
  Speaker 6: buy property in a land I can't own. Because eventually...
• 1:31:30
  Speaker 6: What if this person comes and gives me the money
• 1:31:34
  Speaker 6: and tells me I want you out of my land
• 1:31:36
  Speaker 6: and give me back my property? You know, I don't
• 1:31:39
  Speaker 6: think I want that. You know, so it's crazy. And
• 1:31:42
  Speaker 6: then I also see a saying, buying under foreclosure can
• 1:31:46
  Speaker 6: be an excellent way to get a deal. And you're
• 1:31:53
  Speaker 6: saying investigate what similar properties sell for in the area.
• 1:31:57
  Speaker 6: Exactly right. And yeah, keep at it. This topic can
• 1:32:00
  Speaker 6: be expounded. Yes, next week we're going to check into
• 1:32:04
  Speaker 6: something different. I'll literally, of course, check in in the
• 1:32:08
  Speaker 6: course of the weekend, the week, and see what else
• 1:32:11
  Speaker 6: I can come up with to get you guys educated
• 1:32:15
  Speaker 6: and maybe where you can put your money. I'm glad
• 1:32:18
  Speaker 6: to see that you guys actually do love the topics.
• 1:32:21
  Speaker 6: It's actually interesting. It's what keeps me pushing. I'm not
• 1:32:23
  Speaker 6: going to lie. It's what keeps me pushing. You guys
• 1:32:26
  Speaker 6: actually asking for the topics more. is what gives me
• 1:32:29
  Speaker 6: that interest of wanting to come and talk about it.
• 1:32:39
  Speaker 6: And then I also see, you're saying, don't try building
• 1:32:42
  Speaker 6: land in that court. Or buying land, of course, they'll
• 1:32:48
  Speaker 6: scam me. They'll say I'm cash madame, you know. It's crazy.
• 1:32:52
  Speaker 6: And saying, yes, invest in your way to the poor household.
• 1:32:56
  Speaker 6: Be careful. Exactly. But yes, that has been my beautiful
• 1:32:59
  Speaker 6: conversation of today. And of course, Thursday, same time, same
• 1:33:03
  Speaker 6: place as we catch on another topic of business. But
• 1:33:06
  Speaker 6: of course, see you in a few. We're coming back
• 1:33:08
  Speaker 6: with the reaction time. Join me and see what you're
• 1:33:11
  Speaker 6: going to be talking about me and Shmani. And of course,
• 1:33:15
  Speaker 6: have a beautiful rest part of your morning.
• 1:33:17
  Speaker 2: Peace.
• 1:33:17
  Speaker 6: And I'm out.