When Mr Mwenda Thuranira arrived in Mombasa in March 2008, he did not even know the geography of the place well.
Getting an office to do his work was not an easy task and he had to first settle in a small room near the port for two months before acquiring a better place.
That was three years ago. Mr Thuranira is now the managing director of Myspace Properties, one of the flourishing real estate businesses in the coast region.
The man, who first studied to a pilot before changing his career to pursue a course in real estate investment worked in the USA for eight years before flying back home to start the long process of establishing his now multi-million shilling empire, Myspace Properties.
He shares his story on making money in the real estate business.
Does it pay to invest in real restate?
Yes, it does. However, though there are plenty of opportunities for making big gains, buying and owning real estate is a lot more complicated than investing in stocks and bonds. One has to be very creative. Those who understand the business well will tell you that there is good money investing in property.
Does working with other people influence the way you make money?
This depends on the people one chooses to work with. Committed workers can grow the business but those who take you for granted can derail your efforts. I have a group of dedicated individuals in my company.
What is your company’s monthly net-worth?
Between Sh50 million to Sh60 million. But this also depends on the number of clients I get every month, and like most other businesses, we also make loses. There is no direct road for success in business. To make a good profit, you have to be strong and patient.