27/10/2017
How I Created A Real Estate Empire From ksh 40,000
I recently had an interview with Moses Muriithi Kihunii at my office where he shared his life-changing and life-shaping entrepreneurial story.
Moses is the founder and CEO of Fanaka Real Estate Limited, a company dealing with buying and selling land based in Ruai Town in Nairobi.
Starting any kind of business especially in Nairobi is not easy, and if you’re faint hearted you’re likely to quit in the first 3 months of starting the business.
Here is how Moses started off as an entrepreneur;
“I knew from the start I’ll want to be self-employed, that’s why I had to struggle and raise my startup capital while on campus” he says. He had applied for HELB loan during his university first year, “I saved a lot of my HELB loan and used it to buy an online writing account for about 40,000ksh, however, this turned out to be a loss since the account had some technical issues and got deactivated.” He did not give up after this loss, he instead saved again and bought another writing account. “It was from the earnings of this second online account which I used to invest in real estate. I worked with online accounts for a period of 3 years between 2012- 2015. While doing the online work, I used to give myself a target; e.g. in a year, I would decide I’ll buy 2 or 3 plots of land which I set myself to see it happen. By the 3rd year, I had several plots in prime areas. I decided then to open a company and venture in the real estate industry.”
“I officially registered Fanaka Real Estate Ltd in 2015. And 2 years down the line, we have undertaken 7 projects and completed them successfully to the satisfaction of our clients. What has made the company successful, is the integrity aspect. We make sure that all our parcels are clean, have ready titles and are in areas suitable for immediate development. I realized clients shy away from investing for the fear of losing their money in fault deals. We as fanaka, always encourage client
