Losing Sh300,000 to scammers inspired me to start my business - Kennedy Murimi

The real estate sector has over the past attracted a number of scammers, developers and rogue real estate agents who have swindled Kenyans out of their hard- money.

For one Kennedy Murimi, the pain of suffering in the hands of such conmen inspired him to establish his own firm, Denver Group Limited after losing Sh300,000 in a land scam.

In a past interview with The Standard, Murimi said he had hoped to own a piece of land in Narok County but things did not turn out as he had expected.

“I bought half an acre of land in Narok County for Sh600,000 in 2014. I paid a deposit of Sh300,000 without doing due diligence since I trusted the seller fully. Later, when I decided to fence the property, I was informed that the land was fraudulently sold to me and the person was not the real owner,” he told the publication.

“I took in the Sh 300,000 loss, and learned that it is important to do thorough due diligence before investing on a property, and also involve stakeholders who understand the investment being made,” he added.

Kennedy Murimi Pulse Live Kenya

Murimi’s appetite for buying land began after he secure a job at a real estate firm where he used his salary to purchase land.

After leaving employment to focus on his venture, the Kenyatta University graduate had to wear many hats; the receptionist, driver and marketing & salesperson because he did not have enough money to hire a team.

Kennedy took on online writing jobs to help pay for his office rent because it took almost 8 months to sell his first plot of land.

Investing in land in the early years of employment would later payoff in 2018 when he sold parcels he had bought in Machakos in 2013 and channelled the money to his business.

“My greatest milestone is setting up Denver Group. It was not easy. I had to sell properties and consolidate funds to give the company adequate start-up and operating capital.

“I remember buying three plots along Lukenya Hills in 2013 for speculation purposes. I sold them in 2018 and channelled the proceeds to the company. This decision has since paid off. Push and sacrifice for what you desire to achieve. The growth process may be slow, but it is worth it. You must take starting a business as seriously as running an actual business,” Murimi said.