Real estate investment is a legitimate business that is legal. Buying and selling land has been a practice since ancient times. Therefore, would be very unfair to criminalize this legitimate business.
However, it is important to note that many individuals involved in this industry are unreliable and corrupt.
From popular real estate companies to fake celebrities and public figures who are used to promote and mislead people, Kenyans now fear buying land.
Lesedi Influencers
These people are often driven by greed and a lack of accountability. Therefore, it is crucial to be very cautious when investing in real estate.
Before investing your money, make sure to carefully follow all procedures. You can seek advice from those who have previously bought land or from an experienced lawyer about the safest process of buying land.
They will provide you with the necessary education.
Lastly, if you are able, we encourage you to invest in land, whether it be for residential, commercial, or farming purposes. It is a wise investment to make. But put greed aside.
Our warning comes following the recent Lesedi Developers land saga whereby investors lost close to Ksh 1 billion in yet another land scam.
Most of the investors who purchased properties from the realtor knew about the projects through aggressive social media marketing and influencers.
A lot of artists, influencers, and public figures were paid to promote the property sale which has now turned out to be a con game.
The influencers, who had also been accused of collaborating with Lesedi to con Kenyans, came out and stated that they were not involved in the purported scam.
Lesedi Developers’ case mirrored Bishop Gakuyo of Gakuyo’s real estate firm, which was also accused of conning Kenyans millions of shillings.
