Episodes
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In this week’s episode we share our stories and what it’s been like to run a business where we loan people money and they refuse to pay us. We talk a lot about getting out of debt, but we rarely talk about the people that are owed money and how it affects their lives and businesses.
We hope that this podcast leads to a deeper conversation about debt and the importance of paying the people you owe.
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In this week’s episode we talk to Khumo Nawa from Botswana. Khumo has been in the banking sector for 15 years and decided at a young age that she wanted to be out of the corporate world by the time she was 35, but she started working and forgot the dream. In 2016, she found herself feeling unfulfilled and drifting into depression and ended up leaving her job prematurely in 2017.
Luckily, she acquired her first property in 2011, a 2 bedroom house on a piece of land, when she had read Rich Dad, Poor Dad, in the same year (2011) she decided to get a 500,000 Pula loan to build a 3 bedroom house for herself to live in. She rented out the 2 bedroom to a tenant.
When she left her job in 2017, she didn’t have enough money to pay the loan because her side hustle and tenant income didn't cover her expenses. She ended up in court with the bank, in February 2019, the court granted her a settlement agreement.
At this point she realized that she needed to plan her finances differently, in March 2019, she decided to go back into the corporate world. She was goal driven and she knew why she was working. She decided she was going back to the working world for 2.5 years.
Her first goal was to get rid of all her bad debt, she had a million Pula in mortgage and personal loans. She changed her lifestyle drastically, she went back to the village, because it was much cheaper there so she could direct her money to achieve her goals. She was able to pay off 340,000 Pula in debt in 17 months.
After settling her debt, she ended up with 17,000 Pula free every month. She looked at the village and decided to use a 2,000 sqm plot for 85,000 Pula in the village, which she had acquired in 2013 and decided to build 1 room houses for people in the village. She built 1 block of rooms (each block had 3 rooms) for 75,000 Pula close to a technical college for students and had a waiting list for students for accommodation and rented out the unit for 1,800 Pula per unit. She had determined she needed 16,000 Pula per month to be financially free.
She had an opportunity to get a loan, because she named the project her financial security project, to a level where this project can take care of her. She decided that if she used debt, she would want it to be short debt and she could be in and out quickly
She also started a blog and started showing everyone how she was able to use their salary to create financial freedom. She started showing people how they could use their salary differently and attracted a lot of people to the blog and she started coaching and selling products on her blog.
She decided that 50% of all her income would go towards her real estate and building her portfolio.
At the same time a mall was being built near her property; people started looking for accommodation and she built studio apartments where each block is rented out for 4,500 Pula.
She is currently looking for 540,000 Pula for 12 months to build 3 blocks of studio apartments. She is not looking for equity partners, she is looking for people who want a better return on investment than their bank or financial institution can provide them.
This is a really incredible episode.
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Missing episodes?
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In this week’s episode we talk to Lester Philander, a property investor and the founder of Corp Cafe based in Muizenberg, South Africa.
He started his property journey by making an offer on a property in Mitchell’s Plain, but ended up quitting his job to start his business after getting the initial approval but not the final approval, so the process fell through.A few years later, he and his wife bought their first property to live in Muizenberg and later bought a second property with 3 units on the premises to help family members by renting it out to them. They are now planning to rent that property out to other tenants.
During Covid, he announced that a lot of coffee shops were closing down. So he developed a concept called “rent my restaurant.”
He invested R80,000 into a restaurant, signed a lease and confirmed a lease and then rented out the property to a restaurant owner. The idea was that as a restaurant owner, you would then lease the restaurant with everything in it and you just focus on managing the restaurant and paying them a set fee of R10,000 a month.
The result was great, but he realized that he wanted to make more than R10,000 a month and that Cape Town had more coffee shops per capita than New York City, which means that for a coffee shop to succeed they need to offer a bit more than other coffee shops on the market.
They then started a franchise model (Corp Cafe) where their franchisees can become a hands off restaurant owner (they manage the coffee shops for you), where they buy the franchise for R450,000 and in return Corp Cafe will manage the restaurant and pay the franchisee R10,000 a month (a 24% yield per annum) and reinvest the extra R20,000 profit and leave it in the business bank account for the franchisee to use at a later date.
They currently have 10 stores open and they plan to set up two stores every single month from now on.
This is a really incredible episode.
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In this week’s podcast we talk to Nthabiseng Sejake, a property investor and municipal employee from Soweto who works in utility and property management. Her mom is an entrepreneur who owned a shebeen (tavern), which is now a bottle store; her mom also owns 4 properties.
She bought her first property to get away from her mom and have space. She bought her first property (a 2-bedroom house) in Protea Glen after being referred by a client. She got funding from Mastandi to get the property and to get building funds.
She converted the unit into a 14-unit development where every unit rents out for R3,000 a month. In 2015, she and her partner decided to buy another property - she quit her job and invested her pension money to build a 10-unit development, where she rents out each unit for R9,000 to University of Johannesburg students. All her units have washing machines, DSTV, and Wi-Fi. To get accreditation, she had to provide the students with transportation.
She is working on her third property, another student accommodation (a 3-bedroom house), where she will be housing 6 students at first, thereafter she plans to build the development into a development that houses 35 students.She works with an attorney and a digital marketing property company, Bathamaga Property, that helps her find tenants.
This is another incredible episode.
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In this week’s podcast we talk to Tim Akinnusi, the CEO of MortgageMarket.co.za. Tim is originally from Nigeria but has resided in South Africa for 30 years. He is the former Managing Executive of ABSA Home Loans, and prior to that he was the Executive Head of Sales and Client Value Management at Nedbank Home Loans.
Tim is a seasoned property finance expert with over 15 years’ experience in the financial sector. Tim started MortgageMarket in 2020 to help ordinary South Africans get the best loan to value.
MortgageMarket is the first online marketplace for home loans to give customers direct access to the Top 7 banks in SA and has done more than 2000 homeloans; they pay customers R5,000 cash back just for getting their home loan through the platform.
MortgageMarket will also help you find a property, understand if the property is priced correctly so you are not over-paying for the property. They also help you get the best deal for your mortgage by being able to compare deals across banks and negotiate better.
MortgageMarket also works with property developers who are buying land in good areas to partner with them to help them make sure they are packaging the properties in a way that allows the banks to see value in what they are offering.
MortgageMarket is also expanding into insurance and bridging finance.
In this podcast episode Tim also shares how to increase your credit score without a credit card or taking on more debt. The higher your credit score, the more like you are to qualify for a home loan.
He lost out on buying his first home for R345,000 off plan because he had too much debt (an expensive car), so he ended up buying his first home for R600,000 and ended up paying transfer costs.
He has started to build a strong property portfolio because he can see properties before they hit the market, from working with property developers.
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In this episode- PropDocMom took the commonly asked questions by mentees and some general questions off her Facebook page.
Questions that may seem obvious to a savvy investor or questions you've always wondered about- however never had the time or opportunity to have addressed.
Here's some mentor tips about property management matters, property financing and property structuring.... and more
Take a listen... Leave us your comments and more questions for Propdocmom.
See you on the next episode!
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In this week’s podcast we talk to Tinyiko Motileni, who has 3 businesses, one of which is a property business. She also has a Master's in Business Leadership.
She didn’t even know there was anything like real estate. She just wanted to have a side hustle, make money and buy property. Her main aim with property was to be free and to have passive income.
She bought her first house at 24, she bought her house to get passive income by building a property in the back. Unfortunately, her mom passed on in the same year; at work they asked her to move to a different city (East London), so she ended up renting the whole property and she charged her tenant enough money to pay her mortgage because she didn’t know enough about property investing.
When she moved to East London, she decided to buy a house, using the rental budget her employer was giving her. She ended up buying her property with her partner at that time and when they broke up, she ended up losing the house.
When she moved back home, she started researching township properties and he asked her to buy his house; she took all her savings and bought the house and built 5 rooms and asked her brother to help her tenant them.
Her father had left, so she decided to utilize the land and started farming; she realized that her mother had built rooms on the farm, so she started to rent out those rooms.
Through trial and error, she was able to learn that her cash crop is spinach.
She bought her properties cash and is only left with 2 years to complete payment for one of the properties.
In this podcast, Tinyiko also explains how she is building her business with her ancestral gifts and how everything she is doing is guided and for the next generation.
This is another incredible podcast.
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In this week’s podcast we talk to Zoliswa (Zoe) Singcu, a mother of two and world traveler who is originally from Port Elizabeth (PE), South Africa and is currently working in Saudi Arabia as a Medical Technologist.
She is a world traveler. She bought her first property for her family in Kimberly; she and her husband struggled to get that property. She spent a lot of her time watching programs that have to do with houses and decorations. When she was working the night shift at her job at the hospital, she would look at properties internationally.
She wasn’t even thinking of property investment at that time, but she loved the architecture and the designs. One time, she was viewing properties in PE, and she realized she could afford to buy one of her dream properties. This is how she bought her second property.
At the time, she just wanted to own a property in that estate; there was already a tenant in the property, and she took over the tenant. The property was positive cash flowing from day 1.
She bought her third property in Pretoria when she was getting divorced and some of her friends suggested she leave Kimberly. She bought the house without seeing it, moved to that house and rented out the house in Kimberly, which she has since turned into an AirBnB.
Shortly after buying the third property, she bought 2 units from a developer and a year later she bought another 2 units from the same developer and rented out those properties to tenants and started breaking even.
After buying the 4 properties, she didn’t buy anything for two years, she approached her brother to partner with her to buy land in PE, but he changed his mind because he was scared of losing his money, she went ahead with the sale. Her plan with the land is to sub-divide the land and build 2 houses and resell them.
She then bought a new unit (new development) in Pretoria and turned it into an AirBnB unit, which is doing very well, and that income covers the expenses for some of the properties that are under performing.
Zoliswa buys property for different reasons - to make sure that her kids have properties and don’t have to start from zero. She wants to have a lot of properties so that she doesn't have to struggle later in her life.
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In this week’s episode of the Property Magicians Podcast, we talk to Palesa Lengolo, a finance professional with over ten years of experience in investments, banking and accounting.
She’s also an author of a book called ‘Stokvels - How they can make your money work for you' and told us that the stokvel industry is a R50 billion (US$3 billion) in South Africa.
She grew up seeing her mom being part of stokvels. She became interested in stokvels when she started working for a pension fund company and learned about investing; she realized that the way the pension funds were working was very similar to stokvels.
The first stokvel she was part of was non-monetary - for funerals, where the members would provide food for funerals, eventually the stokvel evolved and members started sending money.
Her mom then joined a stokvel that evolved into a lending stokvel, where they loaned money to teachers and postman for 30%.
Her work with pension funds led her to connecting with other stokvels at the Stokvel Academy and she asked them if they were interested in investing.
She then volunteered to work with the Stokvel Academy and to teach them about investing and creating financial freedom. She then started doing research on stokvels and property stokvels instantly popped up.
She shares that there are 4 ways of making money in property stokvels:
Trust - setting up a trust and investing in assetsFund property deals or be an equity partner in property dealsForm a Pty and buy properties under a Pty and the members are shareholders under a PtyBond - where the stokvel members are paying each other’s bondsIn this podcast Palesa also talks to us about the importance of trusts and structuring within stokvels and explains that as a group you need to have a clear goal for your stokvel.
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In this week’s episode of the Property Magicians Podcast, we talk to Thapelo Mokau, a flight engineer and property investor.
He bought his first property in 2019 when he qualified as a flight engineer. He was planning to stay at the property but he attended a real estate seminar where he was told there were a few strategies he could use.
He started with sourcing, where he looked for property for investors. He started by engaging with other sourcing agents and started building a relationship with various people in the real estate industry.
He bought a property in Boksburg that was a buy-to-let, he got tenants to pay money into his bank account and then used that track record with the banks to show that he was receiving money from tenants and also receiving his salary.
His second property was a multi-let in Kempton Park - he explained his requirements to a real estate agent and everything went well. He is planning to use the cash flow from the property to build and extend the property so he only uses bank money to buy the property.He explained that his strategy is to grow his asset base and use different avenues to grow his portfolio.
This is another educational podcast.
Tune in!
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In this week’s Property Magicians Podcast, we bring you a bonus episode from a class we had for our stokvel members where Leroy taught us about running the numbers and analyzing a deal so we could understand what makes a property profitable and if it's ever a good idea to make a loss in cash flow on an investment.
In this class, we learned that there are three stages when it comes to running the numbers:Stage 1: Capital Cost- Transfer Attorney fees- Transfer Duty (if your property is over a million rand)- Bond Attorney fee- Deposit- Auctioneer costs
Stage 2: Refurbishment/ Holding Cost- Rate & Taxes- Electricity/water- Bond/interest- Refurbishment- Levies- Insurance
Stage 3: Letting/Resell Cost- Bond/Interest
-Insurance- Rates & taxes- Levies- Maintenance- Management fee- SELL- EA Commission
Leroy also taught us some fundamental Calculations:● How to calculate gross yield and why this figure is important● How to calculate cash flow so we can know if a property is a good investment● How to calculate capital cost so we could budget and know how much of our ownmoney we are investing in a deal● How to calculate ROI (Return on Investment)
This is a very valuable episode, so we recommend you get your pen and paper out and take notes. And don’t forget to join the Property Magicians Stokvel because we’re building an incredible property portfolio and providing real estate education.
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In this podcast episode, we talk to Lebo Ramafoko who shares with us why it’s important to understand the politics of financial institutions and how even as recently as 1998- black South Africans had not been exposed to financial institutions and had limited options to get mortgages or even negotiate terms on their loans.
The psychology of the “big house” for a black child. How the big house emanates from lack, from wanting to show up in a particular way, be applauded by our community and friends. We buy big houses for psychological and deep-rooted reasons too - hers were personal reasons after losing both parents within months of each other.
Becoming a landlord for Lebo was circumstantial, she owned over 8 or 9 houses before she actually viewed her house as an investment and she became an accidental landlord.
She sold her “big house” and a smaller apartment to buy an investment apartment. When COVID hit - she took advantage of the low prices and bought a 1-bed apartment. But the long-term rental strategy showed its shortfalls. Long-term tenants offered low rentals. COVID and rental offers were so disappointingly low.
She moved to Cape Town for a new job and made use of her time while in Joburg to scout for reasonable hotel-quality accessories and furnishings. It took two weeks to furnish the apartment. She started renting out the apartment in mid-2021 and she’s had 100% occupancy for over 14 months. And finds it highly profitable - it pays for itself, she makes a profit so much that she’s gotten a new apartment in Cape Town!
This now is her investing strategy- at the time of the recording- she was ready to buy a third apartment for short-term renting.
This is another incredible podcast.
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In this week’s podcast we talk to Susan Granger who defines herself as a creator. She explainsthat all her adventures have to do with what she feels inside her. She creates because she wantsto see something growing.
She is the owner of Nubian Q Urban Farm where she grows her own food organically and teaches others to set up their own sustainable food gardens. She also has a seed bank that she has started creating and is currently sitting at 400 species of seeds.
Her food garden is in an estate - she uses small amounts of land to build sustainable food.
She bought a house after her husband’s passing - she realized she needed to survive, so shereached out to Dr Miranda for property mentorship. She hired two lawyers just to be safe, an architect and a project manager and started the purchase of a property in Yeoville.
She bought a single 5 bedroom house, a kitchen, one bathroom and one toilet. The house also a had a patio and other outside dwellings including a salon. Next to the salon there were other 2 rooms with a bathroom. The house had not been occupied for 4 years and was run down with dog poo and rodents in the house.
They converted the 5 bedroom property into 9 self contained units - each unit has a bathroom and a kitchenette and is open plan. Every unit is different and they decided to keep the aesthetic of the unit but they had to replace the plumbing and rewire the whole house.
The property cost R820,000 and R380,000 to renovate and is still under renovation (renovation started March 2022). Her focus when she was renovating the property was to create a brand and build a house with dignity so she bought instant water heaters and provided free wifi in the property.
When they were done renovating the house, they received several offers to purchase the house, but she chose to keep the house and rent it out. The lowest monthly rental is R3,000 and she is increasing it to R3,700.
This is another incredible podcast.
Book that inspired Sue:She doesn’t read but she is obsessed with tiny houses on YouTube
Contact:Instagram: https://www.instagram.com/nubianqurbanpatch/Instagram: https://www.instagram.com/pivot.propinvestments/
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In this week’s episode we share our next Property Magicians Stokvel deal. This is the fifth deal that we will be investing in as a stokvel.Here's a quick summary of the minutes and what was discussed at the meeting:The meeting starts off with Vangile greeting everyone and giving us updates on the stokvel.Vangile than hands off to Miranda so she can brief us with Deal 2’s payout that is happening in Aug 2022 and how everything will work. Miranda then takes us to Deal 5.Miranda explains why the first investor didn’t work. The reason was that she couldn’t get a hold of the seller because the person was currently out of the country. Meaning she couldn’t produce an OTP.But Miranda did let the investor know that when all is sorted, they can come back and propose their deal to the stokvel.Miranda then explains the NEW deal 5 that has been put in place. The deal is with Mzwiwethu, the same developer we invested in with deal 3. We are partnered with Sakhisizwe Funders Stokvel meaning this investment is for 12 months (July 2022-July 2023). The return on investment is 17% per annum, to protect our investment we have been allocated with Erwe at site to sell should the deal not go as promised.Miranda then shows us pictures of phase 2 and 3 of the Mzwiwethu project and how far they are. She then tries to share a video with us but due to technical difficulties it was sent to the WhatsApp group, and she explains what the video is showing.The Amount that the stokvel currently has in both the Stokfella acc and FNB acc totals to R380,075 (US$24,035). So, we have until 24 June, 2022 to top up investment going towards Mzwiwethu contract 1. Then we have until 24 July to collect the second Mzwiwethu contract. The aim is to raise R3.4 million between the two stokvels (Property Magicians & Sakhisizwe).Miranda starts taking us through the payment options available to everyone nationwide. For more details visit our website. Q and A.
Vangile takes us through the spreadsheet process of money allocation and how it works and how the members can assist by ensuring we have put the correct figures.You can learn more about the Stokvel and how to join at these links: - https://www.wealthy-money.com/stokvel - https://www.wealthy-money.com/stokvel-faqs
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In this episode, a serial entrepreneur and creative Tsotetsi of the Moleleki-Group shares his journey of being in sales, an account manager, a stylist and a brand manager for various corporations. He loves design from clothes, furniture AND beautiful spaces. This is what landed him with architects and developers of “high-end” properties in the North of Johannesburg.
He had very little knowledge of real estate when he did his first deal - a “flip” that yielded R100 000 (US$ 6 370). He bought a piece of land in a high-end Estate from a “distressed owner”, the land already had municipal services and was ready to build. He then sold off the land at a profit and never looked back.
Tsotetsi considers himself a differentiated “realtor” in that he does not wait to find one seller at a time. He often finds himself with a stock of newly built high-end properties or stock from the banks and Attorneys that are selling off “distressed properties”. He “solves” the many property problems that both investors, developers and funders find themselves in.
In this podcast, he shares the various ways of “sourcing” properties to sell, or match buyers to sellers! He also shares- his story of almost going bankrupt THREE times in this business and how he was able to change all this.
Here is an inspired story of a self-taught property manager, property investor and realtor.
CONTACT TSOTETSI:
Website: www.molelekigroup.co.za
WhatsApp: 0788675766
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In this episode we talk to Thembisa Winston Kunene, a 25 year old entrepreneur by profession and a selfless philanthropist by passion. He considers himself an old soul.
He was born in Swaziland, but his dad lived in South Africa, which is how he ended up moving to South Africa at the age of 5. He went to an international school and was exposed to different races and different cultures.
He built relationships at his school that allowed him to work as a receptionist for one his friend’s parent’s recruitment company, which eventually landed him a job as a PA at Pam Golding, where he was mentored about the real estate industry.
He bought his first property from sellers that were leaving South Africa, who were listing the sale as urgent. The property was R450,000 and he got it for R270,000 and used his savings to pay for the transfer costs.
He currently has a tenant that pays him R4,500 a month for that property. He had already mentally started preparing to get a property and started building his credit score before he got his first property.
He got his second property (2 bedroom) through an installment of sale agreement in a golf estate and it was a divorce sale. The couple had decided to move out and wanted the sale to happen urgently.
He got an attorney to register his name against the title deed and to pay off the profit in 5 years. He aimed to pay off the property in 3 years and make a R500,000 profit when he resells the property.
After getting the second property, he negotiated with his dad to use his land to build property and get into short term rentals.
Tune in!
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In this week’s episode, we talk to Isaac Masilela, the founder of Mziwethu. He was born on a farm in Mpumalanga, where his father was rendering his services for a place to stay. Watching his parents build houses with mud and farming to sell food, shaped him to be the entrepreneur he is today.
When he went to Secondary School, he went to live with his uncle who had structured houses; he decided then that he would build his parents a house. He became interested in housing and building houses.
In 1999, he had an opportunity to rent a 3 bedroom apartment to rent with friends, because he couldn't afford to pay for the house and his new car. This taught him that he could collaborate with people.
He bought his house in 2000, a few years after working for 3 years and took an R120,000 bond and invited his friends to stay with him and charged them rent so he ended up staying for free.
This sparked his interest in property and he decided to buy another property, which he rented out to someone. By 2004 he had 6 properties in his own name.
He then decided to buy a half complete house. He completed it and flipped it. He had no experience in building a house and had to register as a builder. He made a profit of about R300,000 on that house in 2 months. This motivated him to keep going in building houses and selling them.
In 2005, some guys approached him to start building some properties together and do property development and they ended up building 20 upmarket houses in Witbank. By the time they completed the development, the recession hit in 2008, so they ended up with R30 million in properties.
Because it was a recession, people were not qualifying for home loans, which encouraged him to pivot to lower-income housing and social housing, because people were qualifying for lower-priced properties.
His company, Mziwethu, focuses on the Gap Market, where people get grants from the government and housing subsidies from their employers. Fast forward to now where his company builds hundreds of houses per annum for the low-income market.
This is how Mziwethu ended up partnering with Sakhisizwe and Property Magicians Stokvel, which have invested a total of R3 million into their project in Secunda so far; we are now discussing how to work with Isaac to help his company generate R1 billion in revenue per month.
This is another incredible episode.
Tune in!
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In this week’s podcast episode we have Malebogo Zilberman. Malebogo is a 39-year-old Fellow Chartered Accountant registered as a Fellow with the Association of Chartered Certified Accountants (FCCA) and a Fellow Certified Professional Accountant registered with the Botswana Institute of Chartered Accountants.
Her first property deal was a deal she entered into to help her mom develop back rooms.
She understudied her mum's development journey and saw how she used cash to develop 7 backroom houses and used them as a source of income. She saw how her mom started the first 3 rooms and then kept adding other rooms as and when she had saved from the existing rooms.
So she decided to do the same as an investor. She bought the first plot about 10 years ago from her young brother; she waited until she had enough savings to develop it. She eventually developed this property into a 2 bedroom house that currently rents for US$270/ month.
She and her husband bought a property in town and decided to turn it into a Domestic Guesthouse to earn an income. The house features 5 en-suite bedrooms, capable of giving a monthly income of between $2,000 to $4,000 Monthly, depending on how busy it is.
Lebo is currently working on a new project - developing and building 10 units.
This is another incredible episode.
Tune in!
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In this week's episode of the Property Magicians Podcast, we talk to Xolile Rikhotso Mashaba. Xolile is a mother of 3 and a wife. She studied Electrical Engineering at college and is currently studying HR Management at a college. She is a qualified underground Electrician by profession and a property investor.
Xoli wasn’t thinking about real estate investing when she started her real estate journey. She and her husband were looking for a place to live and her father in law sold them a 2 bedroom property he was building in the township in Emalahleni (Witbank).
After a while they decided to move to the suburbs and converted the property into a 10 unit multi-let and rented each of the units for R1,500 (US$93) per month. They are now in the process of renovating that property and increasing the rent to R2,500 (US$155) a month.
After buying the house in the suburbs, they bought another house using a rent to buy strategy, they paid off the house in 5 years. They rented out the main house to Xoli’s brothers at market price and the outside apartment to a tenant.
Xoli started following real estate investors online and started learning more about building a real estate portfolio, she then bought 2 pieces of land and another house.
They renovated the house into 7 studio units, each with its own separate entrance and they are in the process of building 20 apartments on one piece of land and 5 two-bedroom units on the other piece of land.
This is another incredible episode.
Tune in!
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In this week's episode of the Property Magicians Podcast, we talk to Funke Alao again. We first interviewed Funke in episode 87, where she shared about the real estate market in Nigeria. Funke is a realtor in Nigeria and does business in Ghana, Rwanda and soon Kenya.
In this episode she is sharing about the real estate market in Rwanda where her company has apartments available for sale.
She shares that she fell in love with Rwanda because it is so beautiful and so organized, especially when it comes to structure and the vision for the country. The Rwandan government is also keen on the quality of the buildings, they do a lot of inspection and quality control so investing in real estate in the country is a good decision.
Funke explains that owning real estate in Rwanda is attractive because the government of Rwanda is also investing heavily in tourism, which makes up 46% of GDP; this is also increasing the number of people going to the country.
More tourists also prefer short term stays like AirBnB instead of hotels, which opens up short term rental opportunities.
Funke started off her business in Rwanda focused on residential real estate but she soon realized that because of the ease of doing business in Rwanda, commercial lettings were also in demand.
Rwanda is ranked second best for ease of doing business in Africa and because of that, the demand for commercial property will increase because more companies are establishing businesses in the country.
In this episode, Funke also shares how to register a company in Rwanda and how to buy property in Rwanda, because her company does have apartments available for sale.
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