 Yes, welcome back. Welcome back. This is still Why Morning Entrepreneurship Tuesday. Thank you for sticking with us. If you're just joining, welcome. You are just on time for the fast conversation of the day. And today we are talking about investing in real estate. So do you know anything about that? If you don't, don't worry because we are joined by an expert in studio. This is the chairman of one of the corporations that deal with real estate, and he'll be introducing himself just now. The hashtag to use is One Morning or Entrepreneurship Tuesday at YT5 for a channel. Karim Wusana. So we want you to tell us your name and what you do. Thank you. My name is Peter Gaglu, the chair and God called Housing Cooperative, and this morning I'm so much happy to be associated with Y24, and I can see your studio are very smart. I'm so much happy to be here. In real estate, I would like to state one thing, Tiffany, before we started the show, according to how the Bible can guide me in the book of Philippians 413, it says very well, we can do all things through Christ who is greater than us. Oh, amazing. We are starting with the Bible quote, so in case you know... I'm a believer. Yeah, it's good. I'm also a believer. So if you, I have not taken, you won't get anything, get Philippians 413. 413. I can do all things through Christ who strengthens me. Sure. So you want to talk about getting into the real estate business for someone who wants to invest in that, and we've just said that you can do all things through Christ, of course. So now into the real estate business, what is it about? What is the real estate business for someone who's just hearing about real estate or just heard about it and doesn't know what it comprises of? Thank you very much, Tiffany. I just wanted to say this one thing. In God called Housing Cooperative, it is where I work. And I work as a chairman. And in God called Housing Cooperative, it's a group of members who came together with agenda of self-help group. And number two, in God called Housing Cooperative, we have board members and we have officials, we have members and non-members who can be infesting in God called Housing Cooperative. And this is a member in institution. It is not a real estate company. It is a cooperative where you can purchase or register as a member to join Cooperative. It is only 2000. Then you can purchase shares worth of 30,000 for you to be a shareholder, to join a shareholder club in God called Housing Cooperative. And in our financial year, you can be able to get your dividend. For last year, our financial year, we gave our members 15% of that in our dividend. So in God called Housing Cooperative, it is where we should be. It is where every person should look because we have affordable housing. We have affordable plots. And we have failures, benefits because it is for small scale farmers. It is for large scale farmers. And where we can empower to greatness. Okay. So I'm trying to understand the difference between our Cooperative Society and a real estate agency because you've said you're not a real estate agency. So what's the difference for someone who is wondering? All Cooperatives in Kenya, Cooperatives in Kenya, they are registered under the Ministry of Cooperative here in Kenya, the Minister of Industrialization. And as we register this institution, there is those board members I have stated. But when you go to real estate, you can register as a sort of a partnership or you can register as two guys so that you can start your real estate firm. Number two, in real estate, it is very weak compared with Cooperative because it is a jiffy job or two partners in the company where the risks are high. If compared with Cooperative because in Cooperative we have more than nine board members and all these board members are elected by the members. If Cooperative behave abnormal, these members will come and remove these guys who are not real estate following the Cooperative virus. Yes. Okay. So basically to understand what you do, you operate also as an investment society where people can invest and do share holdings and you also have the real estate bit of it where someone can buy land and housing. Yes. Like for now, this is our favorite year. Actually, we are celebrating good court because we started our project in Ember. We purchased that acres. We subdivided 288 plots and we sold for members. So good court housing Cooperative, mostly we look for free hold title. There is a difference between free hold and lease hold. Lease hold, it is where you cannot even get loan from the bank. But with free hold title, you can be able to get loan from the bank. Number two, you can build your own home. When you build this home, there is not any person can question you about your plots. But for lease hold there are those government rates. You cannot know who will come and ask you about the lease hold, but you are secured when you have free hold title. Then in real estate or when you are purchasing the land, there is different processes that every person should follow. So what are some of the processes? The first thing it is to fill the land. We have site visits. Actually, we visit our land when it's this and that's this. When you fill the land, then from there you can apply for the search. When you apply for the search, you can apply for the search for yourself or for your lawyer. You can use your lawyer. Then when you are doing these processes, make sure you are using the right person, either yourself or your lawyer. Because for now there is a lot of contradictions in land ministry. Yes, actually there's been a lot of fraud cases in land. So you have to, that's why the process is there. So you have to view the land to make sure that it's actually in existence fast and then search it to ensure that it's actually available for sale or what do you search for exactly? You search the land to know the owner of the land. And if you want to go beyond search, you can purchase a document called Green Card. Green Card will tell you more about the history of that land. Number two, when you are doing this to a section, you should use your lawyer. You should accommodate your lawyer. Why is it important to use your land? Because it is constitutionally to pay 10% out of the value of the land or how you have agreed with your customer or the owner of the land. So, 10% will help you to develop that land before you finish to pay the whole amount. Within this duration of 90 days, you will be paying with instalments. From there, you will note whether the land belongs to the person who purchased from, you purchased it from, or you have purchased that land like two or three men so you are dusted. So it is important for you to use the lawyer, the legal lawyer. You know, we have a lawyer but some are not professional, some are messengers. It is important for you to know the light person, the legal lawyer, because some are doing searches for their own benefits. Some contradict themselves with the registrar in the Land Ministry because you want to pay these products of this land so they come together and make fraud. So it is very important for the viewer who is filming this morning to go through the right processes of the land when you are purchasing. As what I used to say in our company as a chairman, every person needs to have their own home or you need to have your own plots. Actually, that's where I was coming to. Why is it important to invest in your own future as a person, you know, buy a land, buy a plot of land or buy a house? The reason is for now we have to come out of Nalondi because the devolution is there and every place, every county is grown very, very well. Like when you want to purchase a plot, first thing, you are doing it for your family. Second thing, you are doing it for yourself. That is a retirement pension that you are giving for yourself. If you want to succeed in your business, you have to take some amounts and invest in lead estates as youth. So for youth listening to it, it might seem like an idea that is far fetched because when you talk of land, it seems like you are talking millions, you are talking big money and for the youth, they are just hustling to get to the next meal. So that might seem a bit impossible. So how do you make it easier? Thank you for your question and I would like to state this. Don't despise any person who is hustling because we might not know you are tomorrow. In God God housing cooperative, we have those packages of small scale farmers. You can view our lands, then from there you start committing yourself. You commit yourself, then from there we are going to empower you until you finish to pay your plots. So some people outside there, they see like having a plot is something big. To me, I can say it is not big because it depends on your attitude. It depends on your attitude. So you can start when you say small scale farmers. I just want to clarify that it doesn't mean the literal farmer. It just means that you are investing small, right? Yes. So you start small. So how small is small? Do you make investments, monthly investments or when you get money you send in? So what is the exact, you know, give us, take us into that process so that someone understands it if one wants to. Okay. Thank you. For now, I would like to state one of the projects that we have. For example, we have a project in number two. This project we are selling those plots at a price of $250. We encourage youths to have a monthly package. You can be investing only $20,000 monthly so that you can be able to get that plot. We will grow with you slowly by slowly until you get your title. So what I wanted to say about the small scale farmers, you can start with any amount you have in God called housing cooperative because if you can remember, as what I have said, it is a member's institution where we are allowed to interact with every person for investments. Then this is where people cooperate and get their own title. So you can start from bottom, until you get your own title. Okay. And what are the other different ways in investing in real estate? I'm talking about land. We've talked about buying a land. But what about buying a house? One just wants a ready house. Okay. Like for now, we have a project in Alifa and this project is a huge one. It is a gated community and we are selling the plots in Bangalore. We are selling in Bangalore. In Bangalore, we are selling them at a price of $5.8 million. And it is all ensued. It is only one hour from Nairobi to that place. So it is where it has accommodating price. And you can pay with installment also. If you deposit $1.2 million, then through our lawyer, then from there, we can negotiate with our bank and get mortgage with us in Godcode Housing Cooperative. Okay. Yes. So I'm still on the investment bid for the youth. So why would a youth want to invest now? You know, when you talk of a land, a house, maybe someone thinks of it as a retirement plan. Once you're old and you have a family, but for someone who's very young, why is it important to start now to invest into that area? Okay. Tiffany, most of youths, they don't believe in themselves. But when they come to reality, they can do great things. Like, for now, every youth, most of them are complaining because of economic sabotaging, economic crisis. But they started from the beginning. So it is for you to start with what you have. You cannot start with what you don't have because I know one thing that the best investment on land is land. Wherever you are, if you want to stay, if you want to live a stable life, you have to build for your own house. You have to live your father and your mother's property and have yours. Because one thing, nobody can question you because you have your own property. Number two, that property is for you personally. So I would like to encourage youths, because I'm also a youth. It is important for you to invest in lean estate and mostly in co-operative because co-operative will empower. When you come to the matter of negotiation, you know, there are times when there is a problem, there is money. There is a violation. Yes? So it is important for youths to own their title deeds. Okay. Yes. So the beat of buying land and waiting for it to appreciate and then selling it as an investment? I started about the land here in Nairobi about some years ago. And those guys who invested here, they purchased 50 by 100 with the price of 90,000 here in Nairobi, 1982. And these plots, they had not increased in size. The same, same plots, we are purchasing them at the rate of 300 million. So you can see the person who purchased Volkswagen, who purchased Mercedes, and the person who purchased the plots within CBD. Those are different, those are different people because land appreciates, but when you purchase something like that, it depreciates. I don't say buying a car is bad, but you can give plots a priority, all investment a priority. Okay. So that's why they say you can never go wrong with land. Sure, sure, sure. Okay, because it always appreciates. All right. So and why do you have an emphasis on buying, you know, investing in land outside Nairobi? Okay. If you can look at how counties are operating, there is a potential of devolution. The services that I can get here in Nairobi, I can get them in Meru, I can get them in Matu. So it is high chance for us to open our eyes and to see that yes, which is coming. So that we can be able to accommodate those counties and purchase those plots within those counties because each county, they have their own governor and the governor is bringing development. So it is high chance for everybody to come outside Nairobi and invest in our counties. Yes. Okay. And when someone is buying, purchasing a land, why, you know, they are charged differently for those that are near the road network, you know, they're usually expensive than those that are inside in Skondarindani. So why is that? What are their different things that you look at for the people, the cooperative societies and real estate when you are selling land? Mostly we look at prime areas. And all our lands are next to prime centers and I would like to state this, when we are purchasing these lands as a cooperative, we know one thing, if we purchase those lands today for the next two years, we will not be able to sell the same price because of appreciation. Then there are those modern amenities, modern amenities like steamer, kunamaji, we are looking all these business rental houses, we are looking those things where we are infesting. So our lands are not far from road. Number two, it is important to know that even if the land is inside two kilometers of tarmac, it is important to understand for the next five years that land will not be the same. Either it is inside or near the road, the land will appreciate. Okay, that is the... All right, and now into someone who wants to get into what you are doing or being a real estate agent, what does it take, what are the benefits? Okay, every place there is benefit and disadvantages. In real estate, you have to register. You register by the ministry of registrar here in Kenya. Then from there, you can form a committee who want to lead those real estate agencies. Then from there, integrity matters because when you register, you look for the office. Then from there, you look for the land. It matters with integrity because you cannot register the companies. Then at the end of the day, you are receiving members' money and you are not delivering. So it is important mostly to be an integrity person when you are doing real estate because you know the history of Kenya and the real estates, how the people are making the wrong decisions. They are purchasing the land without even such because of trust. So I like to encourage even those who are watching me and they are in real estate, be genuine because we need those customers. He might be my customer today and he might be your customer tomorrow. So integrity is key to uphold. What are some of the other them your qualifications for someone who is just thinking of what to do in campus and they want to venture into this? These things, especially in real estate, they need experiences. They need a lot of keenness. Then, maybe somebody is watching me and they might be asked themself, what are you doing? It is all about the patient and being an integrity person because when you note every customer is the peer of your institution, you will handle that client very, very well. Okay, alright. So what is your final say as we come to a close and this particular conversation for someone who wants to get into buying a land, plot of land of buying a house? Okay, I would like to state Divane, some projects that we have. Maybe there is guys who are watching there, they would like to in the first with the Godicord Housing Cooperative. We have various products in IMA2 and we have Precious Garden Phase 1. We are selling 50 by 100 100,000. We have Precious Garden Phase 2 at Masinga Town. Actually this land is next to town. Each plot we are selling at a price of 250. We have another project in Ebu. Each plot we are selling them at a price of 300,000. And with 150,000 you can deposit the other to pay in 6 months. So in Godicord Housing Cooperative we empower to greatness and I would like to give in our website if you want to understand what is Godicord what we do so www.godicord housing.co.ke So in Godicord it is where we can join our hands together in the first together and get your title. Alright. So before we come to a close I have just remembered a question. Why would you debunk the myth that if you are not buying land in Nairobi you have to buy it from where you come from your place of origin? Okay. What I can say about that you can buy land anywhere even if it is Mubasa. And you are living in Nairobi when you purchase this land you are not building at that time you can take another 3 years then don't purchase the land because you want to build purchase because you want money appreciation Yes. And between purchasing a land to build for yourself and just buying a house that is already built which one is more economical okay if you can come to us it is very economical when the company build for you your own house because some guys they don't understand the money you spend especially contractors can come and tell you this house it will cost you like 10 million when you come to our company you will find the same same house you purchased with 10 million you can purchase with 5.8 the same plot the same house, the same material and the same structure so I would like to encourage the viewers that it is important to purchase the lady house instead of constructing okay it is good to purchase the lady house but if you want to purchase a lady house but I have my own dream house that I want so I can come and give you my specifications and then you build that house sure then they are all controlled but you can change your interior design alright, thank you very much Peter that has been Peter who is the chairman of Golkul housing corporation society and we have been talking about investing in real estate I hope you have had some of the questions that you have been having answered if not you can still talk to us the hashtag to use is one morning at Y244 channel or the hashtag entrepreneurship Tuesday how about to take a short break and then we will be back with Ram who will be hosting at Shavvel photographer something very interesting for you see you on the other side