Japhet hi. It will depend on different factors because you have to consider the role (i.e.: agent, broker, investor), country (i.e.: economy, regulations, industry customs), city, neighborhood, selling / buying / rental techniques (i.e.: terms and conditions), market (i.e.: residential, commercial, etc.), resources (i.e.: networking, credit level, property for 2nd mortgage, etc.), and so on. The blend of those factors may create an unique situation. In any case, I would suggest you to contact one of our real estate mentors: https://www.micromentor.org/how-it-works/
Report Miguel 's answer
Hello Japhet. Thank you for the question. This is not professional advice, and you should do your own research before making any investment decisions. However, I did my best to compose a comprehensive mini essay about real estate in Nairobi Kenya.
According to some sources, you will need to obtain a real estate broker certificate from the Estate Agents Registration Board under the Ministry of Land and Planning. This will allow you to buy, sell, manage, and lease properties in Kenya legally. You will also need to pay an application fee for KSHs. 1,000 and provide some documents such as your identity card, curriculum vitae, educational certificates, letters of recommendation, and a certificate of honorable conduct.
Next, you will need to find some funding for your business. The amount of money you will require depends on the type and size of the property you want to invest in. Some sources suggest that you can start a real estate brokerage business with as little as Kshs. 5,000, while others indicate that you will need at least Kshs. 300,000 to start a laundry business in a low-income area. A big house in Nairobi can cost up to $1.1 million, so you will need to do your market research and find the best deals for your budget.
Finally, you will need to develop an effective marketing strategy to attract potential clients and customers. You can use various channels such as online advertising, print advertising, word-of-mouth marketing, social media marketing, etc. You will also need to network with other real estate agents, contractors, suppliers, bankers, and employees to build your reputation and credibility in the industry.
I hope this information helps you with your query. If you want to know more details about any of the steps mentioned above, I am sure you can find the appropriate mentor for your needs.