Property Magicians Podcast: Recent Episodes
Wealthy-Money
Real Estate Podcast for women and men of color on the African continent. Hosted by 2 South African women.
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.
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.
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.
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.
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.
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!
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.
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.
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 assets
- Fund property deals or be an equity partner in property deals
- Form a Pty and buy properties under a Pty and the members are shareholders under a Pty
- Bond - where the stokvel members are paying each other’s bonds
In 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.
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!
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 own money 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.
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.
In this week’s podcast we talk to Susan Granger who defines herself as a creator. She explains that all her adventures have to do with what she feels inside her. She creates because she wants to 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 she reached 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/
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$24,035). So, we have until 24 June, 2022 to top up investment going towards Mzwiwethu contract 1. Then we have until 24 July to collect the second Mzwiwethu contract. The aim is to raise R3.4 million between the two stokvels (Property Magicians & Sakhisizwe).
Miranda starts taking us through the payment options available to everyone nationwide. For more details visit our website. Q and A.
Vangile takes us through the spreadsheet process of money allocation and how it works and how the members can assist by ensuring we have put the correct figures.
You can learn more about the Stokvel and how to join at these links: - https://www.wealthy-money.com/stokvel - https://www.wealthy-money.com/stokvel-faqs
In this episode, a serial entrepreneur and creative Tsotetsi of the Moleleki-Group shares his journey of being in sales, an account manager, a stylist and a brand manager for various corporations. He loves design from clothes, furniture AND beautiful spaces. This is what landed him with architects and developers of “high-end” properties in the North of Johannesburg.
He had very little knowledge of real estate when he did his first deal - a “flip” that yielded R100 000 (US$ 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
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!
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.
Tune in!
Contact Tsotetsi:
Website: www.molelekigroup.co.za
WhatsApp: 0788675766
Email: enquiries@molelekigroup.co.za
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!
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!
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!
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.
In this week's episode of the Property Magicians Podcast, the hosts, Vangile and Dr. Miranda, of the show do a show talking about unconventional ways to make money in real estate. We cover 7 unconventional ways to make money and most of it doesn’t require lots of money:
- Grazing Land- leased
If you have land, you can lease that land to farmers who need land for livestock. We talk about the model that Livestock Wealth employs in KwaZulu Natal, where they lease land for their farmers.
- Subletting land for agricultural use
We talk about a model we saw being utilized in Sri Lanka where farmland was subleased to grow ginger and turmeric for a food brand and how that contract led to a R250,000 (US$17,000) revenue per annum for half an acre of land.
- Cemetery
We discussed a Facebook post we saw from a status update from one of our previous podcast guests where he shared about a friend of his who made money by buying land and getting it rezoned to a cemetery. He sold the land to the municipality for 10 times what he’d bought it for and he also makes money from managing the cemetery.
- Rental Arbitrage
Renting a place and then subletting it, just Like you do on Airbnb.
- Self-Storage
Leasing our storage units to people - you spend a small amount of money on electricity, sewerage and water. Your main expense is security.
We talk about how to make money by storing Take A Lot packages in South Africa.
- Unconventional office space
Office space isn’t just big buildings in cities owned by large corporations. You can also have various types of co-working spaces or turn part of your house into a conference or event space and make an extra stream of income that way.
We share how to get started with that.
- Parking
Not all land has to be used for building properties, some land can be used for parking, which can be very lucrative in crowded cities.
This is another jam-packed episode.
Tune in!
In this week's episode of the Property Magicians Podcast, we talk to Matimba Masinga, a Soweto-born entrepreneur, father and husband.
He started off his journey at a young age - working in his father's business. His father was a demolisher (used to break down buildings).
In 1984, his father opened the first Black owned furniture company - he recycled materials he got from demolishing buildings to build furniture.
He was drawn to real estate because of the work his father did - he would see his dad demolishing beautiful houses because developers wanted to build town houses or office parks, which fascinated him and when his father bought the Saturday Star, newspaper, he would look at the property section and tell himself he wanted one of those.
He promised himself that when he started working he'd go into property and build township rooms.
When he started working he bought his first property for himself to live in; in 2010 he got a lumpsum somewhere and decided to buy a delapidated flat (apartment) at auction.
He then renovated and partitioned the flat and got tenants.
In 2012 he bought a property using his credit card.
The first year and a half nothing happened with the property - the property was sitting there and he was paying off the credit card debt.
He got two of his friends to partner with him on the property, but the relationship didn't go well and he ended up losing a friend and a business partner.
He then decided to build multiple cottages on the property and asked his aunt and brother, who were in the same business as his father, were able to supply him with second hand building materials for the entire project and he was able to pay them off little by little.
This was the beginning of his property development journey. He then decided to look for like-minded people and joined the South African Property Investors Network where he met other investors.
They pulled their resources and started buying and investing in properties as a collective.
They started flipping properties together, which worked very well; he would then take the profits and put them back into whatever development he was working on.
This is another gem packed episode.
Tune in!
In this week’s episode, we share a recording of the webinar we did for the stokvel members updating them on deal number 5 and the name change of the stokvel.
We started off by explaining the Mission and the Vision of the stokvel and that the name of the stokvel has officially changed from Wealthy Ones Stokvel to Property Magicians Stokvel (PMS). In the webinar, we explain why we had to change the name of the stokvel.
We also give an update on Deal 1 which happened in Oct 2021 and shared the challenges that Villa Lisa was experiencing like theft of tools and material, security being injured on-site as well as rain continuing to cause additional delays. But that does stop our investors from receiving their payout in Oct 2022.
We looked at the total amount of money raised (R2.6 million/ US$177,771) in the stokvel since its inception, we also took investors through deal 5 and explained the due diligence process so members understand what’s required for a property to be worth investing in.
- Property Investor Credentials Management Accounts
- Asset to secure the loan
- Finance application for a new building
- Timelines of securing finance from an institution (Bank)
- Dependencies
We also explain the concept of a Hard Money Loan which means a loan that is backed by a “hard” asset, such as real estate and explain the pros and cons of this money lending process.
In this week’s podcast episode we talk to Malepeli Malataliana, a Candidate Quantity Surveyor (QS). She was born and raised in Lesotho and moved to South Africa in 2012 to study at the University of Pretoria.
She is also an MBA graduate and has a financial literacy interest and an interest in getting people to become financial adults.
She explains that a quantity surveyor is a construction accountant, they tell you how much the construction is going to cost, how much you’re going to make per year from the project, they are also the link between the developer and the contractor and they are the contract manager.
A quantity surveyor manages the contract and makes sure that the contract is understood by both the contractor and the developer.
We’ve had a QS on the show before but this episode is completely different to that episode. Malepeli answered the following questions for us:
- How did you decide to study Quantity Surveying?
- What is a quantity surveyor and what does a Quantity Surveyor do?
- Why should ordinary real estate investors have building projects for small projects?
-
How do you negotiate and navigate building projects when you have a friendship with the contractor?
-
What is a JBCC (Joint Building Contract)?
- Is there a difference between a resident or commercial quantity surveyor?
-
Can beginner investors team up with a QS to help them build their tribe in the industry?
-
Are Quantity Surveyors taught how to mediate and negotiate for the clients at school or on the job?
This is another eye-opening episode and we recommend you grab a pen and paper so you can make notes as you listen.
Click play on the audio below to listen to this week's episode.
In this week’s Property Magicians Podcast, we talk to Brinny Mphogo who was born in Thembisa and raised in Blairegowrie. In 2012 he started working with his dad in the construction company he founded - ABV Construction.
They focus on residential, retail and commercial buildings and he has been able to grow the business by 300-400% since taking over from his dad.
When he started in the business, all he knew was that he knew how to sell. He focused on getting clients because he knew that his dad knew how to service them.
A lot of the clients gave him a lot of opportunities because they knew his dad. The first project they did was a wall in Randburg and it ended up collapsing on the client’s Alpha Romeo. He learned a lot from that experience and started working with his dad on the site to learn about construction so he could learn how long things take and how to get things done well.
They have since become known in the business for being time conscious contractors.
There is a body that regulates contractors, where contractors are graded based on what they can handle.
He explains that when working with contractors, you need to have a good team in place: hier a quantity surveyor who will monitor the contract. The QS will also work closely with the architect. You should also look for a completion certificate, which tells you the number of jobs a contractor has finished.
Brinny is also a real estate investor - he owns land and property in different provinces in South Africa and they all have different uses.
This is another eye opening episode.
Tune in and let us know your comments.
In this week’s Property Magicians Podcast, we talk to Anaiyah Robinson, a 28-year-old mom and full-time real estate investor residing in Atlanta, GA, USA.
Anaiyah comes from an entrepreneurial family and started investing in real estate straight out of college, after being invited to a free real estate seminar.
From the seminar, she was able to learn how to use real estate for retirement and to pay for her kids’ education. The first house she bought was an investment property to fix and flip in 2017 - she sent out mail, via direct mail, to out of state owners and she ended up buying the house under contract.
She paid for the house through a hard money lender but had some hiccups - she ended up changing contractors 5 times but she ended up making a U$15,000 profit.
After that project, she was supposed to go to South Africa but she didn’t want the money to sit in the bank, so she loaned that money out and ended up doubling the money and making an extra US$20,000 from loaning that money out.
After that, she moved into the rental property space and bought her first rental property in 2018. She got a loan for first-time homeowners and bought a single-family home and converted it into a duplex. She also ended up getting a single-family unit for her and her family.
At the end of 2021, Anaiyah ended up getting a 9 unit multi-let for US$590,000. The bank financed the property for US$438,000, so she ended up selling her duplex and used the money she loaned and got an extra loan to make up the US$182,000.
She is currently renovating the multi-let, they plan to get every unit done within 4 weeks. They will also turn one of the units into an Airbnb unit.
This is another eye-opening episode.
Tune in and let us know your comments.
Click play on the audio below to listen to this week's episode.
In this week’s on the Property Magicians Podcast, we share a bonus episode where we talk about the Wealthy One's Property Stokvel and how we raised another R268,974/US$17,935 in 7 days so we could invest in our third deal in Secunda, Mpumalanga.
At the beginning of February 2022, we invested R568,150/US$37,882 in a deal in Boksburg, Johannesburg.
This time we are loaning money to a developer who is looking for R3 million/ US$200,000 to build affordable houses to first-time homebuyers in Mpumalanga, South Africa. He has funds from the bank but has to put down a downpayment.
We have partnered with Sakhisizwe Stokvel and together we have raised R2 million/ US$133,351 for the developer.
In this podcast, we share more about the deal and how you can get involved in the stokvel and grow your investment portfolio with us.
Tune In
In this week’s podcast episode we interview Eddy Mokobodi who is married to Emily Mokobodi. He and his wife are the owners of a solar energy company and they also invest together.
Eddy always thought he’d be a medical doctor, but one day he picked up a pamphlet at the Wits open day and it spoke about construction management so he signed up for construction management and fell in love with the building part of property.
When he started dating Emily, she mentioned that she may end up in property and he realized she may be the woman he would marry. During lockdown 2020, they got a mentor and decided to look for properties that could be converted into multi-lets.
Their coach helped them structure viewings and understand how to read lightstone reports; they viewed 28 places, sent out 12 offers and ended up buying two properties at the same time (these were their first properties) and got 100% finance.
They renovated the property, and because Eddy comes from a construction background, they had access to construction companies so the process wasn’t as difficult. By March 2021, their units were fully occupied.
After that they took a breather and focused on their respective properties. Later in 2021 they purchased another multi-let and they had to get pre-approval for the property.
They got approval from the bank in 3 or 4 days for the next property, which they’ve just taken possession of.
Tune in to learn more.
In this week’s podcast episode we interview Gavin Mkhabela who grew up in the North West with his great grandmother. In 1992 he went to live with his mom in Alexandra, Johannesburg. He then studied accounting at Wits Tech but didn’t finish because he went to work.
He worked for the bank in the homeloans department and moved into the property finance department, where he worked as an analyst to the deal maker. In the podcast he shares how his not good enough wound stopped him from taking up a mentoring opportunity to learn more about putting together property deals.
Even though he was working at the bank, he didn’t think of property investing. He was more concerned with a roof over his head and having his own bedroom.
He got into debt in his first year of working at the bank in 2004 after signing a lease agreement for someone he was dating; the lease agreement was double his mortgage. This debt then snowballed, he got into more debt to keep afloat, and he soon found himself in even more debt.
By 2011 he was so stressed and panicked about debt that he ended up resigning from his job. He started a cleaning business and decided to make cleaning sexy and brought in a business partner. That business eventually fell apart and found himself over indebted and blacklisted.
The only job he could get was to be a financial advisor, which was commission only. He started advising people on property. He met a client who was struggling financially, and had a house and 2 back rooms and a garage. He then advised this client to rent out the rooms and the garage and he started making R13,000 a month.
Word then spread and he got more clients and he found himself teaching people about property and soon changed his life and his finances.
Tune in to learn more.
In this week’s podcast, we interview Daniel Matsapola, a space scientist who works at the Space Agency. Daniel is originally from Limpopo and is married with 6 children (all girls).
He started his real estate investing journey after reading “What the rich teach their children that the poor don’t” by Robert Kiyosaki and he went ahead and purchased his first property on the eve of his first trip to Australia.
He got married and divorced in the same year and in the same year he also lost his parents which led to a paradigm shift for him and he realized he didn’t know what he was doing in property. He found a mentor online, Dr Hannes Dreyer, and attended his free seminars, bought his training CDs and the relationship then developed into a mentorship.
In the mentorship he realized that his first property wasn’t profitable, so he sold his property and made R150,000 (US$10,000) in profit. He then used that money to buy another course from his mentor.
By the 5th year of working, he had bought 4 properties in his name. In 2005, he bought a 5 year mentorship and an opportunity to learn how to turn R1,000 into R10 million. His mentor turned his R1,000 into R10 million in 2.5 years.
In 2008, he left Cape Town to live in Pretoria, and lived for free because his tenants were paying his rent.
In this episode Daniel teaches us how to consume in order to produce and how to do estate planning.
We actually cannot explain in depth what this podcast episode is about and how life changing it is, you just have to listen for yourself.
Tune In!
In this week’s Property Magicians Podcast episode, we talk to Hloni Lebelo. Hloni was born in Thembisa as the eldest of 3 kids, and is a father of 4 and a husband. He works as a team leader at one of the major banks and is also an entrepreneur and an investor.
He bought his first house in Pretoria when his mom fell ill and she was given a package; he convinced her to get into property to create a passive income.
They bought land with the aim of building a bottle store but they couldn’t get a liquor license so they ended up leasing the land to a mechanic to use as his place of work, so his mom still makes money.
In 2015 he was made a permanent employee but he had bad debt - he was driving a nice sports car, was living beyond his means and had more month than money.
He gave himself 2 years to pay off his bad debt, but everything he was getting was going straight into debt and he knew he can’t have money on him that’s not allocated for anything, he came up with a strategy to get out of debt and become financially free. In the podcast he shares his debt repayment strategy.
He sold the car and downgraded to a smaller car and in 2017 he bought his first house in Thembisa from a distressed seller. The house was a 2 bed house with a garage and 4 tenants in the backyard. He converted the house into a 3 bedroom house and rented the house out for R4500 after extending it.
He later learned that the owner had renovated the face of the house but structurally the house had many issues and was a money pit. He credits the loss he made on that house with why he stayed in real estate investing.
He eventually sold the house and got a nice profit from the house because of all the work he’d put into fixing it. He then bought a nice house in Kempton Park which had staff quarters and a double garage, which he partitioned; he fixed up the staff quarters and ended up with 6 tenants.
He then bought another house in Kempton Park and his parents asked to move into the house and they gave him their house in Thembisa.
He decided to try investing in Thembisa again - he decided to give people in Thembisa a lifestyle they could get in Midrand and converted the house into 7 units so every unit has its own kitchen and bathroom.
And because of his employee benefits at the bank, his mortgage was affordable and he was able to rent out the property at a lower price than usual, which has helped him keep his tenants longer.
In this podcast Hloni shares how his property income is now more than his salary and how he’s changed the area he invests in but kept the strategy - he focused on buying properties that have more space and now has 4 properties and is working on his 5th property.
This is another incredible podcast.
Click play on the audio below to listen to this week's episode.
Our guest for today is Nkateko Mlambo, an AirBnB Hostpreneur. She is originally from Mamelodi, a marketing graduate and in her final year of BCom Law Degree.
She is also a property investor. She started her property investment journey in 2008 when she was in the mall with her mom and they saw a real estate agent in the mall. She bought a property for less than R500k and a real estate agent told her she doesn’t have to live in the property, she could get a tenant to pay the rent.
She went to CNA and bought a lease agreement. After the first month she received rental income from her tenant and decided she wants to get own property.
Bought the second property (3 bed, 2 bath) in the township in Mamelodi in 2016. It’s close to shopping centers and transport. The appreciation and the rental income of the second property were so much better than in town or suburbs.
When she was purchasing her second property she had issues with the bank, which questioned her affordability. So she had to do her own arbitration.
She realized that using her payslip to invest in property was going to be a problem for her. So she booked a property seminar to learn more about growing her property investing portfolio. She learned about property in a company name and in a trust. It became clear to her that if she was growing to grow in this space she needed a mentor and coach.
She learned about the rent to rent strategy; she rented a property and then rented it out on AirBnB. Started to search for properties in Pretoria East and looked for properties listed by the owners, sent an enquiry to the Landlord and spoke to him about subletting the property.
She made money within the first week of renting out the first property.
She then repeated the AirBnB strategy in Cape Town and rented out the property on AirBnB before they even concluded the rental agreement.
In this episode Nkateko explains how to make 2 to 3 times more income with AirBnB than with a buy to rent strategy.
This is episode another jam packed episode.
Click play on the audio to listen to this week's episode
In this week’s #PropertyMagicians podcast episode we talk to Precious Dludlu who works as an external auditing. She grew up in Hammanskraal, the last born of 7 siblings, raised by a single mother who worked as a domestic worker.
When her mother retired she moved to Bronkhosrtpruit, in grade 12, she decided she wanted to be an interior designer but her parents said no, so she ended up studying internal auditing.
She noticed that having an education and a career were not the way to financial freedom. When she fell pregnant she started to change her mindset and decided to build wealth.
In April 2020, a coach introduced her to a Bigger Pockets book
She started listening to the Property Magicians Podcast and hired a property coach in October 2020 and put in her first OTP in January 2021, by December 2021 she had 6 new properties.
First property made a profit of R1200 per month in Sunnyside.
Second property she was able to convert a 1.5 bedroom unit to a 4 bedroom unit and was able to make a R4,000 a month, on a property that she bought for R300,000.
The sellers offered her the third property since she had bought the second property.
She got 90% of the money from the bank to finance her properties; her savings were able to cover the down payment for the first 3 properties. For the fourth and fifth properties she worked overtime to make the money and then used that extra money to pay the 10% deposit and lawyer fees.
She also sold her house and moved to a rental place because the expenses of maintaining a house and paying rates was very expensive.
She plans on doing an AirBnB strategy and going commercial and moving into the salon industry.
Click play to listen in
Books that have inspired Precious:
“Who moved my cheese” by Spencer Johnson
“The richest man in Babylon” by George Samuel Clason
“Rental Property Investing” by Brandon Turner
Contact Precious
Facebook: https://www.facebook.com/precious.dludlu.3
In this week's podcast, we are sharing a replay of a live class where we did a property investing intention setting exercise for Property Magicians on our mailing list.
From the minute we launched the Property Magicians Podcast, we focused on aligning and going within vs doing. We have always prioritized ease and listened to what our souls were asking us to do next. We work from a space of alignment vs doing
We have seen the power of being intentional, which is why we decided to host an intention setting exercise, to help you on your property investing journey.
This class is about the energetics and emotional aspects of investing and money, so bring a pen and paper and let's clear blocks and connect with our deepest desires and listen to what our spirits want in terms of investing and then we will set the actions.
We also do a guided meditation to help you understand your investment archetype.
Here are some of the questions we asking in the meditation:
What are the 3 fears that are holding me back from becoming you?
What is the one belief about investing that they needed to let go of in order to become a successful investor?
What is the 1 belief they had to adopt about themselves in order to become a successful investor?
What 3 money, investing and personal habits did they have to let go of in order to become a successful investor?
What 3 investing, money and personal habits did they have to adopt in order to become a successful investor?
How did their relationship with themselves change? What did they need to believe about themselves and money in order to become a successful investor?
What did they invest in? Can they share their investment journey?
PS: We launched a Property Stokvel and are currently fundraising for the next Property deal on January 15th, 2022. The deal is a flip and also has a 15% ROI in 4 months.
If this podcast is resonating with you and you want to be part of the stokvel, then we want to invite you to join the stokvel at this link: wealthy-money,com/stokvel
In this week's podcast episode we talk to Obakeng Ben Malapile, a 25-year old a mathematics science graduate, real estate agent, YouTube vlogger and property investor.
Obakeng started Forex trading while he studied, he was then influenced to invest in property after reading Rich Dad, Poor Dad (Robert Kiyosaki). He started his YouTube vlogging while attending property master classes and working with a property mentor.
He set his mind on finding out how to invest in property with little or no money down. He spent 3-years reading, listening to property podcasts and being mentored.
His first investment property was bought in 2020 cash, in partnership with an investor that found him via his YouTube channel. They bought an apartment and turned it into a 5-bed multi-let abode and it cash-flowed from day 1.
The investor had been following him for a while on YouTube, and they decided to formalise their partnership- Obakeng had the time and knowledge of property, the investor had cash sitting in the bank.
He went on to an Air BnB masterclass to learn about Short-Term Rentals. He now has an Air BnB mentor because his #2 and #3 properties are short term rentals that he does not even own. He used this investor, his credit card and his salary to furnish his two apartments.
Obakeng also shares about the power of building a powerful credit score as a young person or even as a student. He has even drawn in his two younger siblings into his property business and has set them up with debit cards in order to begin building their credit portfolios.
Obakeng is working on his third short term rental. He spends all his time on YouTube and property/ finacial podcasts. His favourite one being BiggerPockets. He intends extending his learning to the many property strategies and one day soon owning a guest house or Hotel.
This episode is another incredible podcast episode.
In this week’s Property Magicians Podcast, we talk to Thabo Mongoato, a father of 3 boys and a full-time property developer and coach.
Thabo started off as a pharmacist then did his MBA and worked in various fields, until 3 and a half years ago when he moved into property full time.
In this podcast, he shares how property has always been his passion but he invested in property the “wrong way.”
He bought his first property to have a roof over his head – the interest rates were at an all-time low and rent and mortgage were the same, so it made sense for him to buy.
The second property was an investment decision that went wrong, he attended property training courses that taught him that the property he buys doesn’t have to be cashflow positive and that property appreciates over time and he believed them, but then the property started draining his cashflow and he ended up selling it at a loss after 5 years.
When he had to leave his last corporate job, he realized that needed to think about wealth in a different way. He started reading a lot and attending seminars and workshops and learned about property and the right way of doing things and started flipping and moved into development.
After a few months of coaching, he attended an auction in Boksburg, bought a property, flipped it and made a profit of R151,000 in 5 months.
He then bought a development, which was a half structure for 84 units, which looked straightforward on paper but ended up taking 3 years to develop because of Covid and rising prices.
He is currently working on another development in Braamfontein in Johannesburg and has raised R9 million for that development.
This is another eye-opening podcast.
Click play to listen and leave us a comment in the comments section below.
Today’s episode is a bonus episode and is a replay of a webinar we did last week; talking about the next deal for the Wealthy Ones Property Stokvel.
The first property investment, we made as a stokvel was very different - we made an investment into Bizzhouse's Villa Lisa property at 15% pa.
The next deal we are currently fundraising for is a flip, where the investor is looking for money to renovate a not so nice property and sell it at a profit. We will loan them the money and make 15% ROI in 3 months. We have until January 6th, 2022 to raise the funds to invest in this deal.
In this episode we covered the following:
- The vision of the Wealthy Ones Property Stokvel
- How the stokvel works and how to join on the Stokfella app
- How to join if you're based outside Southern Africa
- The deal we are going to invest in - how it works and what it is
- Answering investor questions, some of which you may also have
Click play to this episode and please share it far and wide.
Watch the class on YouTube: https://youtu.be/NPdsYS4FbX8
Watch the video interview with the investor: https://youtu.be/zM_wHBbr1vs
PS: If you are based in these 4 countries: South Africa, Namibia, Lesotho or Swaziland:
Please go to Google Play or iTunes to download the Stokfella app and join as a member and then search for the Wealthy Ones Property Stokvel and request to join as a member.
PPS: If you are based outside of these 4 countries, listen to the podcast to learn how to join.
In this week’s Property Magicians episode we interview Alfred Kashindi, a 21-year-old property investor living with his grandmother in Soweto, South Africa.
Alfred is originally from Congo, his mom and dad came to South Africa when he was 5, as a refugee.
Alfred decided in grade 7 that he would never seek validation outside of himself and in grade 11, he started asking himself what he wanted to become and learned that he was not afraid to take risks.
In 2018, he started writing a book on what he would do if he had US$1 million and wrote 100 things. He named 100 ways to make a million dollars and then decided he was going to do each of them and see which one of these things resonates with him.
In 2019, he started realizing he was building a mindset and started reading "Rich Dad, Poor Dad" and focused on working on his money mindset.
He also attended a Robert Kiyosaki seminar, where he met Toni Ninkovic (episode 57), who later became his mentor.
Toni then taught him how to source deals; he started negotiating deals for investors and making money that way.
His first deal was in Pretoria after speaking to 67 agents!
He made R8,000 (US$496) in his first deal and then made R150,000 (US$9,293) in 4 months from sourcing.
This is another incredible podcast episode.
Press play to listen to this episode and share it far and wide.
PS: We launched a Property Stokvel and are currently fundraising for the next Property deal on January 6th, 2022. The deal is a flip and also has a 15% ROI and will be hosting a webinar on December 2nd, 2021 at 6 PM South African Time/ 11 AM EST.
If this podcast is resonating with you and you want to be part of the stokvel, then we want to invite you to join the stokvel at this link: wealthy-money,com/stokvel
In this week’s podcast episode we share what we, the hosts of the Property Magicians Podcast have been up to - a few months ago, we launched The Wealthy Ones Property Stokvel and raised R331, 000/ US$21,000 in 5 weeks and then invested that money in property development for 15% per annum.
A stokvel is a collective saving scheme or investment fund, where people get together and raise funds.
In this podcast, we share the journey of starting the stokvel and raising the funds and how you can get involved and be part of the stokvel.
In this podcast, we answer the following questions:
-
Why did we start the Wealthy Ones Property Stokvel?
-
What led us to a passive investment strategy?
-
What did it take to start the stokvel?
-
Why does it work and how do our strengths translate to the stokvel?
-
What is the vision for the Wealthy Ones Property Stokvel?
-
How does it work for you?
-
What happens if you default on your monthly payments?
-
How do you get involved?
We are currently fundraising for the next Property deal on January 6th, 2021. The deal is a flip and also has a 15% ROI and will be hosting a webinar on December 2nd, 2021 at 6 PM South African Time/ 11 AM EST.
If this podcast is resonating with you and you want to be part of the stokvel, then we want to invite you to join the stokvel at this link: wealthy-money.com/stokvel
In this week’s podcast, we talk to John T Griffith, who is the first person to ever tell us about Bigger Pockets and inspire us to get into property.
We share how the podcast started with a simple email from John, that led to him sharing his journey in the #MoneyMagic student group, which led to the Property Magicians Podcast. As part of the 100th episode, we thought it would be fun to have John come on the podcast to share his property investment and entrepreneurial journey.
John is based in Boston, MA and defines himself as an entrepreneur. He runs several businesses; real estate is one of them, the other is a coaching and healing business.
He got into property because he was tired of paying rent to his landlord who was chilling in Florida and collecting rent checks from his tenants.
He also had a job where he was paying US$50k (R767,000) in taxes a year, which upset him because when he ran his own business he barely paid tax.
So he started asking questions on how to pay less taxes and was told, by a friend, to get into property.
He bought his first property - 3 unit property (1 bedroom units) - in 2017 for US$540,000 (R8.282 million) for no money down (he got a VA Loan).
The property was positive cash flowing from the start - he and his wife decided to house hack; they lived in one of the units and converted the other two units into 2-bedroom units, which allowed them to pay zero rent and still increase their rental income.
When their daughter was born, they needed more space and decided to buy a new property. They used a home equity line of credit to borrow US$33k (R506k) in equity, which became the down payment for the next property.
The second property had 2 units - 1 top and 1 bottom unit. They AirBnB'd the lower level for a year and have now gotten a day-care license and will use that unit to run a day-care centre with 6 kids at US$2000 (R30,673) per kid per month.
This is another jam-packed episode.
Click play to listen to episode 100 and leave us a comment in the comments section below.
PS: To celebrate the 100th episode, we are running a series of live interviews with some guests that have been on the show on our Instagram profiles to hear how being on the podcast has influenced their journey as investors. The interviews are happening in the evenings this week; we will announce the guests and the time of the interview on the day of the interview. To get information on these follow us on Instagram: @VangileMakwakwa and @PropDocMom
In this week’s podcast, we talk to Cindy Dibete, an empty nester, an accountant by profession and a board consultant.
Cindy is the founder of Cosec 8, where she sets up statutory and advisory boards for medium-sized entities that want to break the glass ceiling into large businesses, mentor individuals who want to venture into Non-Executive Directorship and recruit non-executive board members.
Cindy and her late husband bought their first property within days of them deciding they were tired of renting and wanted to own a property of their own.
When their family started to grow, they sold the first property to raise the deposit to buy the second property.
She and her husband then bought 2 properties (2 units) for their child, so that their children could have their own property when they graduated.
One day they went to an Airbnb to visit mom, and they were served "cremated" bacon so she told her husband to buy them a property so they can make their own bacon when they go visit her mom.
They bought a 16 sleeper and that property served as a guest house for her mother.
When her husband passed on and there were issues with some of the properties, Cindy decided property was not for her; she then sold properties (some at a loss) and bought shares on the stock market instead.
In today’s podcast, we talk about something different - what happens when you realize that property investing is not for you?
How do you pivot and find other means of investing that work for you?
Click play to listen to the episode and leave us a comment in the comment section below.
In this week’s podcast, we talk to Percy Singo; originally from Venda, he studied Civil engineering at Vaal University of Technology and works for a municipality in Gauteng.
Percy bought his first property because he was tired of renting. So in 2015, he bought a stand-alone house in a new development.
Although he took out a loan for the property, he was able to save R15,000 (US$1,000) per month between 2015 and 2018 and used that money to pay off the mortgage on his property in 2018.
When he started looking into real estate investing, he understood that he’d made a mistake with the property - the land on which the property was built was too small and he needed a bigger yard in order to build extra units and rent them out in the future.
He bought his second property (a 2 bedroom stand-alone house) with a bank loan and used his savings for renovations and construction. That property now cashflows at R30k (US$2,000) per month.
He then saves the money that property makes and uses it to renovate the next property, as a result, Percy currently has 4 properties with minimal debt.
In this podcast, Percy shares how he has been saving and using his own savings (cash) to build/ renovate the properties he purchases so he can grow his property portfolio.
He understood early in his real estate journey that it wasn’t enough for a property to pay for itself - it also needed to make a profit.
We hope you enjoy today’s podcast.
Click play to listen to the episode and leave us a comment in the comments section below.
In this week’s podcast episode we talk to Lebo Grass, an entrepreneur, real estate investor and property mentor.
Lebogang studied communication science at Unisa (University of South Africa) and bought her first property at the age of 25, in Protea Glen, Soweto for residential purposes.
One day a friend introduced her to the Steyn Family, which sells building supplies to hardware stores, advised her to build properties in her backyard so she could practice being a landlord and make extra income.
Luckily, she had an entrepreneurial background and had seen her grandmother and her friends make money from back rooms, so he used that knowledge and experience to build and run her property.
That extra income helped her pay off her property faster.
Lebo currently has 5 properties that are registered under her name and bought through home loan financing. In this podcast, she shares various financing strategies that she uses to purchase property.
She explains that she believes in trying various investment strategies and shares how she has now ventured into short term Rental on Airbnb and Booking.com
The other strategies she wants to try out for next year are Property Wholesaling, Property Flipping and Aparthotel properties.
This is another jam-packed episode, get your pen and paper because you are in for a treat.
Press play and leave us a comment in the comments section below.
In this week’s podcast, we chat to Tiritoga (Tiri) Gambe who lives in Zimbabwe and defines himself as a student of wealth.
He learned about property and wealth creation from his dad who put the first home they had in a trust, so he has always been a property owner (since age 3).
Tiri is a wealth manager with Carrick wealth and he focuses on helping people figure out their behavioural biases so they can identify their own money behaviour and build wealth.
We brought Tiri onto the podcast because he helps people get properties in various countries like Europe (UK, France, Portugal), Mauritius and the Caribbean (Grenada and St Lucia) so they can diversify their property portfolio and get a second passport.
In this podcast we Tiri explains the advantages of currency arbitrage and how once you have a property in the UK, it's so much easier to use that property to get other properties internationally.
We also learned that anyone can own a property in the UK, depending on your source of income - if you have an income of 25,000 - 30,000 pounds (salary slip from anywhere in the world).
You can get a 50 - 65% mortgage from banks if you are buying a buy-to-let property.
Tiri also answers some important questions with regards to building an international property portfolio:
- What are the ways of using the ailing South African Rand (ZAR) to buy properties beyond our borders?
- Give us an example of what ZAR can buy in the UK
- Tax implications of buying property in various parts of the world and how best to deal with those
This is another jam-packed episode, get your pen and paper because you are in for a treat.
Click play to listen to episode 96 and leave us a comment in the comments section below.
In this podcast episode, we talk to Nkuli Bogopa, the COO Broll Property Management, Africa’s leading real estate company.
She is the immediate past Vice-President of the Black Business Council (BBC) and Founding member of the BBC’s Women’s Alliance and immediate past President South African Institute of Black Property Practitioners (SAIBPP).
She is also the Technical Committee Member for the Property Sector Charter Council and is responsible for the policy formulation and Property Sector Codes.
Nkuli started her journey in property management 20 years ago when she was interviewed by Drum Magazine for her work as an architect working on Melrose Arch; during the interview, she realized something was missing and that she wanted to know what happens to the people after they move into the building.
Luckily, she had a mentor who worked in the property sector and he was able to guide her into corporate real estate management.
In this podcast, Nkuli shares how we are affected by the walls around us, whether consciously or unconsciously, we are emotionally impacted by the spaces we occupy.
She explains the importance of working with a property management company and why developers hire property management companies at the development stage and how that can help a developer secure bank funding.
We also learn how Covid has changed the funding process in the commercial property sector - banks are slower in terms of approvals so developments stall and it's created uncertainty in the industry and how property management companies have had to be agile and innovative in order to create new income streams.
In this podcast, Nkuli also shared the impact of the July riots in South Africa on the commercial property industry and how property management companies responded to the riots.
You’re in for an amazing podcast.
Click play to listen and leave us a comment in the comments section below.
In this podcast episode, we talk to Retha van Rooyen, entrepreneur and co-founder of M5 Property Addicts.
Retha bought her first property in 1998 as a protest to rentals. The property was a 2- bed townhouse that cost R127,000 (US$8600) at an interest rate of 24%, 5 years later she, sold the property for R550,000 (US$37,226) and used the profits from that sale to buy a new property and ended up living rent-free and started seeing the power of property.
At the time she was still employed (by Accenture); one day the company sent her to a mindset training which led to her launching 3 businesses in different industries. The businesses didn’t work out, but the training got her wondering about the career path and if that was for her.
One day someone at work told her about how they were buying a distressed property which led her on the path of property.
She refinanced her house and bought 4 properties at once - it was a property with 4 properties that needed fixing.
In this podcast she takes us on the journey of starting out in property and the learnings from there:
- how the builder said the properties would take 6 months to build but it actually took 2 years
- the challenges of completing the property - with Documentation (outdated plans), ran out of money and change of legislation (Spluma)
- How her relationship with her best friend fell apart because bought in the wrong structure and didn't have clear job descriptions
- The importance of communication when working with other people
- bringing other people with you on the journey
She also shares how she met Taurai Jack and how they ended up teaming up to start M5 Property Addicts and growing the business to where it is.
This is another jam-packed episode.
Click play to listen to this episode and leave us a comment in the comments section.
In this week’s podcast, we talk to Shillyboy Mothiba, a Chartered Accountant by profession, he is co-founder of Intergen Private Wealth, a company that specialises in Trust and Estate planning for property investors.
Shillyboy started off building houses before finding himself in estate planning.
He explains why estate planning is so important and how we speak a lot about economic transformation but very few people understand the principles of economic transformation, which are to preserve and retain wealth.
The misconception is that estate planning is about death, but it's about wealth transference, wealth is often transferred from generation to generation, not just created.
In this episode we dig into:
- The importance of property structuring and how that can help us optimise tax, pay the right tax and protect our wealth
- How to make your descendants capital beneficiaries and how you can become an income beneficiary
- What are the tax benefits of being a property investor are and how to tap into that
- Why you need succession planning and how trusts save you the issue of estate duties
This is a valuable podcast for anyone learning how to build and preserve generational wealth.
Click play to listen to this episode and leave us a comment in the comments section below.
In today’s podcast episode, we talk to Moloko Makgele, founder of Zest Property Investment Development and a fund manager at Absa for the last 8 years.
Moloko has an Accounting degree, post-grad in risk Management and an MBA from Mancosa.
He has been an entrepreneur for years and has tried multiple businesses until he decided he needed something that can create a proper stable income, which is how he decided on property.
In 2018 he partnered with his cousins to buy their first investment property cash in Polokwane. The property was an old RDP house in a 400-meter yard. The plan was to build rooms on the property.
They didn't do anything with the property for 10 months and he noticed that he was the one taking care of the property. He felt like he was the one pulling everyone so he offered to buy out his cousins for R120, 000.
At about the same time, his father went on pension in early 2019, so he borrowed money from his father to convert the property (in the podcast he shares how to talk about money with your family) and demolished the actual house and built 10 units.
In the podcast, he shares the challenges of building a house in a separate province and how he had to change builders 3 times and how it took him 6 - 7 months to build the units, vs the 2 to 3 months he had planned.
He finished building the units in March 2020, for R800,000 (US$56,380) and they were fully occupied within a month, renting at R2300 (US$162) per unit.
He then bought a second property in Kempton Park, using money he had borrowed from friends after renegotiating the terms of the loan with his dad.
He bought a house, rezoned the house and partitioned it into 11 one-bedroom units, added wifi to the development.
This is such a great episode because we go in-depth on discussing money with family and friends.
Click play to listen to this episode and please share your feedback in the comments below.
In today’s podcast episode we talk to Wadzanai (Wadzi) Garwe, originally from Zimbabwe, she now lives in Rome, Italy; she is the founder of African Conversations with Self and an economist that works for the United Nations.
Wadzi is also a mother of 2 who takes us through her journey of building generational wealth for her children.
She starts off the podcast by explaining to us that in Zimbabwe, owning property is a right of passage to be considered an adult.
So when she got married and had kids, it was only normal that she would get property, but she and her then-husband decided to buy land so they could build a house and also turn part of it into a business.
They decided from the beginning that they were going to do everything cash and not take on bank loans.
They bought 6.5 hectares of land for US$13,000 (R186,462) from a British couple in the late 90s and negotiated a 12-month payment term.
As soon as they owned the land, they sectioned off parts of it for different uses. They started planting trees and other plants to make sure that the land was profitable from the very beginning.
They also build a 1 bedroom cottage on the property (they would later use this space to host and cater for events), and started building their house cash. The house cost them US$250,0000 to build in total - walls, foundation and finishings.
Over time they planted more trees and added more income streams and turned the land into a business with multiple streams of income. That business is now registered in Wadzi’s children’s names and is now valued at US$2.5 million (R36 million).
Her children are not yet 30 and they are already dollar millionaires because of the decision she made to utilize land to create generational wealth.
In this podcast, Wadzi shares how she was able to do all this without taking on debt and gives us tips on how we can also do it moving forward.
Get your pen and paper and click play because you’re in for a treat.
Start your property investing journey in 10 easy steps!
Get the Property Magicians Podcast 10 step guide to help you start investing in real estate so you can get your first, second or even third property.
Go to this link to download the book: wealthy-money.com/propertyguide
PPS: If you love the book, spread the word and share the link and if you really wanna thank us, please leave the Property Magicians Podcast a 5 star review on iTunes.
In today’s podcast episode, we talk to Teko Mothlabi, founder and CEO of Roomsta, a digital marketplace (web-based) that connects tenants to back room rentals.
Teko started this business after seeing that almost every house in the location or Black neighborhoods in South Africa had a back room and that most young people felt under pressure to move into the suburbs and pay higher rent the moment they started working.
He noticed that the market had changed - young people no longer see the suburbs as the only option and don’t mind renting back rooms as they move from different provinces for work purposes.
At the same time, most back rooms have changed and have become way nicer, which makes them more attractive.
This is where Roomsta comes in - no one caters to this market, no one connects the tenants and landlords and the landlords run their real estate business in an informal manner so they’re not able to qualify for funding and get money from the banks to buy more property.
In this episode, Teko shares with us how he was able to grow this business and some of the challenges of building this platform and getting people to use it.
Click to listen to the podcast and leave us a comment in the comments section below.
In today’s podcast episode we sit down and chat with Thandeka Sibanyoni, who is originally from Carolina, South Africa.
Thandeka started her property investment journey during the pandemic - she listened to the Property Magicians Podcast and then started following some of the guests and started implementing what they were teaching.
She started looking for properties where she lived and focused on the location of the property, cash flow and affordability. When she went to the bank, she learned that she could qualify for a property worth R700,000 (US$46,023) so she focused on properties priced below.
She found a property valued at R600,000 (US$39,448) and converted that property into a multi-let, with 4 bachelor units. She got 100% funding for that and later found out from the bank that the property was actually worth R800,000, so she actually made R200,000 (US$13,149) when she bought the property.
A few months later, she went to Johannesburg, learned about the AirBnB strategy and started implementing that strategy - she rented a flat, furnished it and put it up on Airbnb and started cash flowing from day 1.
In this podcast, Thandeka shares with us how she was able to start on her real estate journey during a pandemic and keep growing her portfolio.
We hope you enjoy the podcast as much as we did.
Click play to listen to the podcast and leave us a comment in the comments section below.
In this week’s episode, we talk to Athi Nenkosi (CEO) and Palesa Lehapa (MD) of Athi Nenkosi.
Athi and Palesa met when they were studying business and realized they had a passion for helping people style their homes as well as organize and declutter their homes.
They are home stagers who work with real estate agents and sellers in the property market to help them sell or rent out their properties quickly and easily.
In today’s podcast they help us understand:
- The difference then between an interior designer/ stylist/ interior engineer
- What goes into staging a home and why you need the professionals to help you
- Why home staging works and how it changes the value of a house
- What the biggest challenge for the South African public has been, when it comes to using their services
- How to find home stagers in your city and how they determine their prices
This was a really fun episode to record.
Listen on:
iTunes Podbean Spotify
Click play to listen and leave us a comment in the comments section below.
In this week's podcast episode, we talk to Olufunke (Funke) Alao, a Realtor in Nigeria who helps clients from all over the world create wealth through real estate.
Funke is originally a trained lawyer based in Lagos Nigeria but found her calling in real estate; having grown up watching both her parents buy land, develop it and sell it.
In this episode Funke answers some of the following questions for us, about real estate investing in Nigeria:
🩸 What are some of the hurdles of real estate in Nigeria?
🩸 What is the housing market/landscape in Nigeria?
🩸 Tell us about the pricing of houses generally and the makeup of neighbourhoods?
🩸 Financing property in Nigeria - how do people get access to money to invest? What financing models are there?
🩸 Tax in Nigeria: what are the main property taxes that investors need to be aware of? Is there a difference in tax for locals and international investors?
🩸 What are the land ownership laws in Nigeria? Can foreigners own 100% of the land?
🩸 What unique opportunities do you see in the Nigerian market right now and what return on investment can investors expect?
This is another eye-opening episode.
Click play below to learn more.
In this week's podcast episode we talk to Lungisani Xhakaza, a real estate investor, accountant and Founder and Director of LZX Investments (PTY) LTD, a Property Investment Company.
Lungisani is originally from Kwazulu Natal but now lives in Johannesburg. He came into property because he wanted to invest in a tangible asset that appreciates in the long term.
He bought his first property in 2002; the bank gave him 100% funding and also paid for his fees.
After that first purchase, agents would come to him with more properties and the bank would fund him in full.
In this episode Lungisani shares with us how to improve our credit scores so the banks feel comfortable giving us money:
- Use your credit card but put money into it.
- Have an overdraft facility but don’t stay in overdraft.
- Take calls from the bank if you owe them money. Remember banks don’t want to repossess property.
He also shares why he prefers to buy for both cash flow and appreciation and some mistakes he made on his property investment journey.
This is another incredible episode.
Click play below to learn more.
In this week's podcast episode we talk to Vumile Msweli, a career coach who helps people connect where they are with where they want to go.
Vumile is a property investor who comes from a family of real estate investors - her grandparents were in property so she knew about property from a very young age.
She got into banking to get exposure to different clients and preferential interest rates (which are available to bank employees); she also chose to rent a back room for R1500 instead of renting an apartment.
She shares how she used her first paycheck to buy her first property in Germiston and made a rental income of R5500 from that, which covered her rental expense.
Shortly thereafter, she bought properties in Maboneng and Pretoria and also moved to a new company that enabled her to make 2 purchases at staff rates.
In this podcast Vumile shares how travelling and living in different countries changed her view of property investing and why she now buys properties cash and how that can actually lead to accelerated portfolio growth in the long run.
She also imparts some incredible advice on delayed gratification, life and careers for property investors.
This is another incredible episode.
Click play below to learn more.
In this week's podcast episode we talk to Peter Mohlala, an Optometrist for 15 years, managing three practices (2015 till Present).
Peter has been a property investor (Residential Rental Properties) since 2010 and currently works as a Real Estate Agent (since Jan 2017).
He also provides training and guidance on property investing and also runs seminars and provides mentorship to people who are interested in property investing.
Peter got into Property after reading “Rich Dad, Poor Dad” and started investing in property to experiment with Robert Kiyosaki’s philosophy and see if it works.
In this episode, he shares why he believes property investment is the best option for retirement and why he invests for both appreciation and cash flow.
He also shares why he focuses on residential property and invests in 2 bedroom properties, how he was able to start investing in property as an entrepreneur and why he prefers working with bank consultants over a mortgage originator.
We hope you enjoy this episode as much as we did.
Click play and leave us a comment in the comments section below.
In this week's episode, Dr Miranda sat down with 23- year- old Thomas Mathew of Nomadify to speak about short term rentals.
Since age nine, Thomas has been playing with code - an engineer at heart with an aggressive pivot towards property investing.
He explains why he adopted his current real estate strategy, why he has invested in higher-end suburbs and why he has stayed with his strategy despite having been hit hard over the lockdown in 2020.
Thomas’s journey was smoothed out by partnering with an older partner that was ahead of him in both earning and property investing in general.
He was so deliberate about his journey, and placed an offer on an apartment within 10-months of having his first job, at the age of 20!
Starting early before he could accumulate debt of non-cash flowing items.
He is currently on property number 12.
He and his partner run their Airbnb properties personally and have lived in several of their units, which has sharpened how they approach their Airbnb hosting experience.
He is ready to add affordable housing and the development of apartments into his strategy.
This episode is made for the millennials and new graduates.
Click play below to learn more and leave us a comment in the comments section below.
In this bonus episode, we bring you DrMiranda of PropDocMom, co-host of the Property Magicians podcast.
She’s a property mentor for beginners and in this bonus episode, she was a guest on the Unpack podcast with Lerato Bambo.
In this podcast, she shares the many ways to finance a property in South Africa. We’re all familiar with the conventional banks and their mortgage models but what happens when you can’t get funding from the bank?
Don’t let your journey of investing get throttled by the lack of funds.
Don’t get stuck on owning 100% of each property.
Don’t get discouraged by the belief that you can only begin investing if you have thousands of Rands.
This is another great podcast episode.
Click play and leave us a comment in the comments section below.
We are also on iTunes and Spotify, so feel free to subscribe and listen to the podcast on there and please leave us a rating and review on iTunes.
In this week’s podcast episode we talk to Musi Skosana, a property investor and asset manager.
Musi was awarded Equity Dealer of The Year for 2014 and was consequently named a Game Changer in the financial services industry in South Africa.
He is the founder of MSM Property Fund, an asset and private equity manager specialised in property. He was rated number 1 manager for the past year in terms of returns by Citywire.
In this episode Musi shares how he started off as a property investor by buying Growthpoint shares, watching the property channel and learning about how to renovate houses and sell them.
He bought his first property in his 20s with a friend. It was a one bed, one bath apartment, which they renovated and decided to keep and rent out because it was cash-flow positive.
The second property they bought was a 2 bedroom property that cost them R600,000 (US$43,597), which they renovated and sold at R1.3 million (US$94,461) a few months later.
Their third property was a 10 unit multi-let, which they also sold at a profit.
In this podcast Musi talks to us about collaborating with real estate partners, how to get started with flipping a property, how to find your building team and what to focus on when renovating your property.
This is another great podcast episode.
Click play and leave us a comment in the comments section below.
We are also on iTunes and Spotify, so feel free to subscribe and listen to the podcast on there and please leave us a rating and review on iTunes.
In this week's podcast episode, we talk to Vusi Mathebula, an investment banking lawyer & property investor with 12 years of experience specializing in leveraged finance & commercial property finance.
Vusi always had a passion for building things and built his first house in high school for his grandparents who needed a house.
He bought his first property with his older sister, he later moved out and decided to buy his own place - a fixer-upper.
He got bank financing and soon learned about all the other costs like transfer costs, transfer duties, bond registration fees etc., associated with buying property.
In this episode, he walks us through his experience on buying property and the costs to look out for and the various factors we need to take into account to get a good property deal.
We hope you enjoy this episode as much as we did.
Click play and leave us a comment in the comments section below.
We are also on iTunes and Spotify, so feel free to subscribe and listen to the podcast on there and please leave us a rating and review on iTunes.
In this week's episode, we speak to three ardent listeners of the podcast as they share their biggest take always. Mpho Nkadimeng, Maureen “Momo" and Papa Boachie-Yiadom.
Mpho Nkadimeng:
An events director changed how he viewed his garage space and the vehicle parked in there over the 2020 lockdown.
-
He became a multilet property investor at the same time inspired by Episode 37 with Witness Mdaka.
-
He was immensely inspired by MaJosphine in Episode 25. The simplified property investment language used made his journey possible.
-
He has a weekly appointment with the podcast.
Maureen “Momo”:
A professional and mother, full time employed took up property mentorship over the 2020 lockdown (with PropDocMom)- to boost up her confidence to take action.
-
She has shared some episodes with her brother that now has become a Property Magician
-
She is about to become a multilet landlord.
-
Her favourite episode is MaJosphine in Episode 25.
-
She was reminded that her own mom is a landlord, and the problem solved was through student accommodation!
Papa Boachie-Yiadom:
Who was our guest in Episode 36 and returned to tell us how the podcast is his constant companion at the gym and how it’s turned his own investment strategy on its head!
-
He now knows how he can exponentially grow his potential.
-
He has birthed a Property Management Company and a property mentorship as a result of his exposure to the podcast teachings.
-Papa has made it his mission to review every one of the 69 episodes he has listened to.
- His favourite episode is Episode 28.
This is another interesting episode, click play below and leave us a comment in the comments section below.
We are also on iTunes and Spotify, so feel free to subscribe and listen to the podcast on there and please leave us a rating and review on iTunes.
In this week’s podcast, we talk to Julie Mxhakaza, a full-time property investor who describes herself as someone who has been bit by the property bug.
Juliet is on a mission to become a serious player in the property space and is the founder of Zinathi Property, a company that currently owns two residential blocks of flats.
Juliet bought her first property as soon as she started working and could qualify for a bond/ mortgage. She decided it made more sense for her to pay for a mortgage, than it was to pay rent.
Shortly after buying her first property she had to move for work, rented out the first property and found herself renting again, so she decided to buy a second property.
She started exploring various entrepreneurial ventures and soon realized that property was her true passion, so she started looking into how she could own buildings and soon learned about TUHF and how they fund based on character and not credit scores.
The first building she found was in Booysens, Johannesburg and 12 units (2 bedroom apartments) that was funded by TUHF (80%) and sold some land she had in Pretoria to raise the 20% down payment for the deal.
The second building is 10 units in Krugersdorp and she rents those apartments out per room vs renting out the entire apartments.
This is another interesting episode, click play below, leave us a comment and a rating on iTunes.
We are also on iTunes and Spotify, so feel free to subscribe and listen to the podcast on there and please leave us a rating and review on iTunes.
In this week’s podcast, we talk to Nokulunga Pere, a full-time property investor who has used multiple investment strategies to build her property portfolio.
Nokulunga holds a baccalaureate degree in IT and worked in corporate for 10 years before her entrepreneurial side kicked in and she realized that she was more suited to property investing than formal employment.
Nokulunga bought her first property at 23 because she was tired of renting and moving whenever her lease was up. She needed a stable place to live and ended up buying a sectional title, thinking that she was buying a free-standing home.
In this podcast, she shares how shocked she was to find out that rates and levies were not the same thing and how the agent misled her about renovations and how she used credit cards to renovate the property.
She bought her second property in Mfuleni, Western Cape because she wanted cash flow. She bought the property for R150,000 (US$10,673) and used cash and personal loans to build 6 bachelor units which she now rents out at R2,500 (US$179) each per month.
She then moved onto a flipping strategy, where she bought a property and sold it for a 120% return.
Nokulunga is now focused on high-end beachfront property development and an AirBnB strategy.
This is another eye-opening episode, click play below, leave us a comment and a rating on iTunes.
We are also on iTunes and Spotify, so feel free to subscribe and listen to the podcast on there and please leave us a rating and review on iTunes.
In this week’s episode, we bring you another bonus episode, this time from our host Vangile Makwakwa.
This episode was recorded for Podbean Finance Week and looks at why families have similar money patterns.
Within us, we carry our ancestor's experiences with money - we carry their trauma and their wisdom.
This is why it can sometimes be hard for a family to break out of poverty especially if you carry deep financial trauma from way back because everyone in the bloodline is tapping into certain ancestral memories.
Some of the issues we carry around money are not even our own but it falls on us to do the work.
The ability to manage our personal finances is important because it affects our credit scores and income, which impacts the amount of funding we qualify for when applying for funding, which in turn impacts the growth of our real estate portfolios.
In this week’s podcast episode we look at the things we don’t even know are impacting our personal finances and hindering our growth.
Grab a pen and paper, click play, take notes, leave us a comment and a review on iTunes.
We are also on iTunes and Spotify, so feel free to subscribe and listen to the podcast on there and please leave us a rating and review on iTunes.
Want to dig deeper into your money blocks?
Check out the Bank Account Challenge course: wealthy-money.com/bankaccount
You can book a money clarity consultation with Vangile here: https://www.wealthy-money.com/consultation
In this week’s episode, we talk to Gabriel Leavell, an accomplished multi-industry entrepreneur with a focus in hospitality.
Gabriel is originally from Everett, Washington and moved from Seattle to New York City to work in multiple industries and start businesses there.
About 6 years ago, Gabriel and his business partner saw a gap in the market for high-quality Airbnb’s throughout the USA and quickly gained steam in acquiring, designing and managing vacation rentals.
Having learned a great deal about the industry through this venture, moved to South Africa, bought an old house in Observatory, Johannesburg and renovated it into a hotel, Daze House.
In this podcast he shares with us the journey of renovating, buying property in South Africa and opening a hotel during the pandemic and how they had to pivot to stay in business.
He also shares what makes Daze House so unique and why it has attracted some high profile guests and celebrities, including Jidenna.
Gabriel has since embarked on a journey to develop a new and exciting boutique hotel chain on the continent of Africa and is currently working on a new project in Morocco.
This is another inspirational episode, click play below, leave us a comment and a rating on iTunes.
We are also on iTunes and Spotify, so feel free to subscribe and listen to the podcast on there and please leave us a rating and review on iTunes.
In this week’s episode, we look at real estate trends on the African continent.
We look at several different countries on the continent - similarities and differences and also look at the strategies that each of our guests have employed in various countries.
This is an interesting episode, especially if you've always wanted to invest in multiple countries.
Get your pen and papers out, click play, listen, make notes, check out the podcast episodes we mention and leave us a comment.
We are also on iTunes and Spotify, so feel free to subscribe and listen to the podcast on there and please leave us a rating and review on iTunes.
In this week’s episode, we brought back Nigel Adriaanse (Episode 39), who introduced us to Gareth Shepperson, a conveyance attorney at Delport Van Den Berg, a law firm in Pretoria South Africa.
We invited Gareth to talk to us about the Spatial Planning and Land Use Management Act because when we started on our journey of real estate investing, we were prevented from buying a property we liked because of this act.
The investor we were trying to buy the property from is actually a seasoned investor with apartment buildings, hotels and guest houses in Mpumalanga, but he also seemed unaware of this act.
He was actually selling the property to raise funds for a hotel he was building. In the end, the deal fell through and we couldn’t get the property because the municipality wouldn't approve the sale.
So in this episode, Gareth answers the following questions:
- Why SPLUMA is relevant and important to investors and how does it apply to rural and urban land?
- Who should be aware of SPLUMA?
- At which stage of development is SPLUMA most impactful- drawing of plans/ the actual constructions phase/ at application of occupational certificate?
- Who enforces the SPLUMA and how would enforcement of SPLUMA look like, with regards to a property one has developed?
- What other Local Municipal regulations work in conjunction with this regulation?
This is a very important episode for investors who are looking to get into multi-lets or developments in South Africa.
So get your pen and papers out, click play, listen, make notes and leave us a comment in the comments section.
We are also on iTunes and Spotify, so feel free to subscribe and listen to the podcast on there and please leave us a rating and review on iTunes.
In this week’s podcast episode, we talk to Ekow Quagraine, the founder and CEO of Begrand Holdings, a company that specializes in property investment, management, sales, rental and student accommodation.
Ekow is a former banker and is now a full-time real estate investor.
In this episode, he tells us how he got started in real estate and investing from a young age. Ekow bought his first property a few years after graduating university, in 2008, when the market was crashing, he bought a 3 bedroom duplex for R400,000 (US$27,400) and started house hacking.
He lived in the property and rented out the other 2 bedrooms to his friends for R3000 (US$205) per month per room, they also shared utilities, food and petrol (gas) because they all worked at the same company.
He then used that money he got from the property to show affordability and was able to use a variety of strategies to buy 13 properties in 1 year without putting any of his own money in and was able to start building his real estate empire.
This is another great episode, get your pen and paper, click play and listen.
We are also on iTunes and Spotify, so feel free to subscribe and listen to the podcast on there and please leave us a rating and review on iTunes.
In this week’s podcast episode, we talk to Lerato Bambo, founder of Lerato B Group, a website and marketing boutique, who has lived in the US, Turkey, Ireland and Bali for over a year each.
Lerato’s journey into property started when she moved to New York, for a job and had to deal with the high rental expenses in the Big Apple, and since at the time she believed she was going to stay in the USA long term, she decided to buy an apartment instead.
A few years later, she moved to Ireland and rented out that apartment to a tenant, who still lives there now.
After Ireland, she moved to Bali, Indonesia, fell in love with the country, bought land and started building a resort for tourists in Ubud.
Before the pandemic started, she came back to South Africa to visit and found herself stuck in the country during lockdown, so she decided to buy a property in Pretoria to use as her base, she has since decided to rent out the property when she heads back to Bali.
Lerato shares her journey on buying property in these three countries - the buying process, the legal system and how she funded the purchase of the properties.
If you’re into travel and international property ownership, you’re in for a treat.
Click play and leave us a comment in the comments section below.
We are also on iTunes and Spotify, so feel free to subscribe and listen to the podcast on there and please leave us a rating and review on iTunes.
In this week’s podcast episode, we talk to Jovi Chen an entrepreneur, real estate investor and venture capitalist.
He is currently a CEO at Zen Consortium, a leading Impact investment & advisory firm, with offices in South Africa, UK, Turkey, in 2019, Zen was nominated as the “Most Innovative Business & Social Development Solutions- South Africa” by Global Brands Award.
Jovi was originally born in Taiwan, but he moved to South Africa in 1992, when his parents invited him over to check it out.
His parents always stressed the importance of investing in property when he was growing up so after a few years of blowing his money on partying he started his journey in real estate and bought his first property cash.
In this podcast episode Jovi shares how to invest in non-physical real estate assets through Exchange Traded Funds (ETFs) and why these are a great option for people who don’t have enough money to get into real estate or for people who just don’t want the hassles of physical property.
Jovi also shares how he gets 40% of his tenants to pay him 12 months rent upfront and how he gets to invest in China and other countries outside of South Africa.
Jovi shared some great investing resources with us in this podcast, check them out:
- Investing.com
- Street Journal
- MyBroadband.co.za
- Property Alliance
- Biz News Radio
This is another eye episode, we covered a lot of ground, so you may want to grab a journal.
Click play and leave us a comment in the comments section below.
We are also on iTunes and Spotify, so feel free to subscribe and listen to the podcast on there and please leave us a rating and review on iTunes.
In this week’s podcast episode, we talk to Farai Gudza, a Civil Engineer with 16 years experience in design and construction of civil and structural engineering infrastructure.
He has worked on projects in the public and private sector which include township engineering services, hospitals, schools, office blocks, houses etc.
In this podcast Farai answers some of the following questions for us:
🔴 What is the role of a civil structural engineer?
🔴 At what stage of development of a building does one call in the services of a civil engineer?
🔴 How do you recommend an investor/ developer work with a civil engineer-how are civil engineering fees costs calculated?
🔴 What are 3 major considerations that a Civil engineer looks at onsite before development begins?
🔴 What are some building trends that we should be aware of?
This is another eye-opening episode.
Click play and leave us a comment in the comments section below.
We are also on iTunes and Spotify, so feel free to subscribe and listen to the podcast on there and please leave us a rating and review on iTunes.
In this week's podcast episode we talk to Sabelo Simelane, a full-time property developer and real estate agent.
Sabelo started off in Industrial Engineering, realized he didn’t like it and moved onto banking where he started learning about property development.
One day he had an aha moment where he realized he had 3 cars, but no wealth, in fact, his cars were depreciating in value; this then started him on his property journey.
He bought a 3 bedroom property in the East Rand in Gauteng for R330,000 (US$22k) in 2009 in a new development, 5 years later he sold the property for a profit of R140,000 (US$9,300).
He then decided to buy some land and built 7 flats (apartments) on there, he lived in one of the flats and rented out the other 6 for R4050 (US$270) each.
After that project, he bought more land and decided to move into short term rentals in order to diversify his business and cash cycles.
We hope you enjoy this episode as much as we did.
Click play and leave us a comment in the comments section below.
We are also on iTunes and Spotify, so feel free to subscribe and listen to the podcast on there and please leave us a rating and review on iTunes.
In this week's podcast episode we talk to Willy Kalala, a real estate investor who runs Mount Zion Tours & Travel, a tourism company, and uses a rent to rent strategy to make money from real estate.
In this podcast, Willy shares that he got into real estate when he lived in the DRC (that’s where he was born but he later immigrated to South Africa); growing up his father would always emphasize the need for his children to own their own properties.
When his father passed away, a pastor approached them and asked to use their land to build a church and use it for a set number of years, in return the church paid them monthly rent and gave them the building at the end of the contract.
At the end of that contract, Willy and his siblings turned the church building into storage facilities and built more rooms for rent on the property. All the siblings used the rental income to empower themselves and pursue their dreams.
When he moved to South Africa, Willy got a job and because he already understood the power of real estate, he soon acquired investment property.
And when he was fired from his job, he started a tourism company focused on providing tours to French-speaking people and as part of his business model, he decided to offer accommodation to clients so he moved onto a rent to rent strategy.
This is a no money down strategy, where he rents apartments from landlords, renovates or decorates them and then puts them up on Airbnb.
We were pleasantly surprised to learn that Airbnb in South Africa has been thriving during the pandemic and Willy shares how he generates a consistent profit from using this strategy. He also shares how he makes money during the off-seasons on Airbnb.
We hope you enjoy this episode as much as we did.
Books that inspired Willy:
“It’s more than just money” by Witness Mdaka
‘Rich Dad, Poor Dad” by Robert Kiyosaki
Click play and leave us a comment in the comments section below.
We are also on iTunes and Spotify, so feel free to subscribe and listen to the podcast on there and please leave us a rating and review on iTunes.
In this week's podcast episode we talk to Lesetja Toona, a property investor and founder of Lenayatla Property Solutions, about buying properties at auction.
You’re in for such a treat in this episode because Lesetja takes us on a real-life online property auction and allows us to see how he bids for properties and at the end of the auction walks us through the deal he was bidding and explains to us what his cap at the auction was and walks us through the numbers so we get a better understanding what makes a deal a good deal at auction.
He also talks to us about things we should know when going to buy a property at auction and why it’s important to be self-aware and understand yourself and to read the room.
He also shares some of the investment mistakes he made because he didn’t have enough education in property and how that has him focusing on a multilet strategy.
This is another incredible episode.
Click play and leave us a comment in the comments section below.
A book that inspired Lesetja: “David and Goliath by Malcolm Gladwell
We are also on iTunes and Spotify, so feel free to subscribe and listen to the podcast on there and please leave us a rating and review on iTunes.
In this week's podcast episode we talk to Kgalalelo Mosime, an interior architect (with 15 years experience) who specializes in commercial interiors in sustainability and human wellness.
Lelo is also the founder of Hive Studios and spent time on the podcast teaching us about the difference between architecture, interior architecture and interior design.
In this episode she explains why interior architects are hired at the beginning of a building project or at the start of renovations - they work on the interior of a building and focus on the things we don't see that complement the aesthetic.
They focus on electrical layout, the walls, building regulations and also work with councils and engineers.
Lelo also focuses on human wellness in her field, which is focused on designing spaces that positively impact our psychological wellbeing and in this episode she spends time explaining how Covid has brought this topic to the forefront and how the pandemic has started impacting building trends in terms of natural light, color, texture, fabrics etc.
We also touch on sustainable building and what that means and looks like in the building space and how it has started to impact council regulations.
This is another eye opening episode.
Click play and leave us a comment in the comments section below.
We are also on iTunes and Spotify, so feel free to subscribe and listen to the podcast on there and please leave us a rating and review on iTunes.
In this week's podcast we talk to Wandile Moganedi, the founder of Smart Living Properties, a company that repurposes shipping containers for various buildings:
🩸Accommodation Units
🩸Offices/ Business Hubs
🩸School Sanitation/ Ablution facilities
🩸Libraries
🩸Shopping/ Retail Store
In this podcast we talk about why shipping containers are becoming such a popular building option globally:
🌟 They solve an environmental issue because you are reusing shipping containers
🌟 They are cheaper to build with (for example a studio can cost R100,000/ US$6,700 to build with plumbing and everything)
🌟 It's also faster to build with shipping containers - it's possible to have a house in one month, so you don't have to wait to earn an income
🌟 You can move with your house, no matter how big, you can move the house to the next location (even countries)
🌟 Shipping container homes are considered movable structures and so don't have the same zoning hassles as other properties
Sounds amazing right?
More and more companies are opting to build with containers. Even some high-end hotels and stores globally have started to introduce shipping container properties into their portfolio.
In this episode, Wandile also shares how he has started to use shipping containers to start tackling some of South Africa's housing issues, whilst helping others realize their property investment dreams.
He also shares some amazing entrepreneurial insights. So you are in for a treat.
Click play below and leave us a comment in the comments section.
We are also on iTunes and Spotify, so feel free to subscribe and listen to the podcast on there and please leave us a rating and review on iTunes.
Happy and Healthy New Year Property Magicians!
We decided to start our podcast recordings for 2021 by exploring mental and emotional health in property investing.
We are going through a collective trauma with this pandemic. We're losing family and friends and most of us are grieving and feeling anxious and overwhelmed, we can't pretend that this is business as usual.
This is not business as usual and it's normal to feel scared, uncertain, lost, demotivated and uninspired, so how do we cope, survive and keep going?
We focus on physical health and center our mental and emotional well-being even in our businesses.
In this episode, we share how we've been coping and the changes we needed to make in our businesses in order to keep growing our businesses. We share the tools we've been using to ground ourselves so we can continue to run our businesses.
We hope these tools and suggestions help you on your property investing journey.
Click play below and leave us a comment in the comments section.
We are also on iTunes and Spotify, so feel free to subscribe and listen to the podcast on there and please leave us a rating and review on iTunes.
Merry Christmas Property Magicians.
In this week’s episode, we do our now annual Christmas episode. In this year’s Christmas episode we invited Papa Boachie-Yiadom (from episode 36) on the show to help us share his favourite episodes of the podcast and also share how the lessons from these episodes helped him build his investment portfolio.
As the hosts, we share our takeaways from various episodes and how they have influenced our property journey.
This is our Christmas gift to you.
Click play below and leave us a comment in the comments section.
We are also on iTunes and Spotify, so feel free to subscribe and listen to the podcast on there and please leave us a rating and review on iTunes.
In this week’s episode of the #PropertyMagicians podcast, we talk to Christiaan Jansen, a consultant at 360 Finance.
Christiaan helps investors get funding for residential and commercial properties. We brought him on the show to talk to us about commercial property financing (student accommodation, owner-occupied and rental properties) and the requirements for funding in this space.
We sat down and discussed:
🔴 How commercial property financing differs from residential financing
🔴 How to work with a consultant to access funding from various banks and funding houses
🔴 What banks look for when it comes to funding commercial property
🔴 How long it takes to get commercial funding from banks
🔴 Monthly activities that newbie investors can engage in to increase their chances of getting funded by the banks
🔴 Opportunities that are opening in up in the commercial property space, since the start of Covid
You are in for a treat, get a pen and paper and take notes.
Click play below and leave us a comment in the comments section.
We are also on iTunes and Spotify, so feel free to subscribe and listen to the podcast on there and please leave us a rating and review on iTunes.
In this week’s episode, we talk to Jade Barkhuysen, a full-time property investor and coach, based in Port Elizabeth, South Africa.
Jade’s goal was to be a sportsman, but he ended up starting a motor business in his third year of university and ended up in property investing.
He bought his first property because an agent told him it was a great deal and because he didn’t know about property investing or deal analysis, he ended up losing R3000 a month on that property.
He then went out and got a property coach and started reading up on property and learning about property investing and focused his attention on cash flow positive deals.
He started making money by sourcing deals (assisted sales) and then moved onto a flipping, multi-lets and the student accommodation strategy.
In this podcast he breaks down his multi-let strategy and explains how he makes money by finding properties that are below R1 million (US$65,772), renovating them and then converting them into multi lets.
He also shares how he finds these deals and the areas he focuses on in order to get the deals and why he focuses on those areas.
This is one of those podcasts where a lot of wisdom was shared in a short space of time.
Click play below and leave us a comment in the comments section.
We are also on iTunes and Spotify, so feel free to subscribe and listen to the podcast on there and please leave us a rating and review on iTunes.
In this week’s episode we talk to Cacisa Mgudlwa, a town planner and property investor, who takes us through her journey of paying off R365,000 (US$23,644) in debt so could start her property investing journey.
As property investors, we often hear horror stories about zoning, in fact, when we started the property podcast, we (Dr Miranda and Vangile) were both interested in a multi-let in Mpumalanga, South Africa, but we soon found out that the multi-let had some zoning issues and parts of the building would have to be torn down in order for the sale to happen, which basically defeated the sale.
Needless to say, the sale didn’t happen.
So in this week’s episode, we decided to bring a town planner in South Africa to answer some questions:
🔴 Why is it important for real estate investors to understand zoning in their municipality?
🔴 What is town planning and how do town planners work with real estate investors?
🔴 How long does it to take to rezone a property and what is the process to do this (change a property from a residential property to a multi-let or from a commercial property to residential units)?
🔴 Why is it important to see the title deed before you purchase a property?
Click play to listen to this week's episode and leave us a note in the comments section below.
How do you know if a property is a good deal?
How do investors decide on their maximum offer on a property? What factors are they looking at and considering?
We know in the time of Covid, we are told to buy properties because it’s a good time to invest since it’s a buyers market. So we thought it would be great to help first-time investors understand the numbers.
In this episode, we teach you how to analyze a deal and walk you through a case study of a deal that looks great on the outside but when we dig a little deeper, the numbers tell a different story. We explore ways to make the deal more lucrative.
Dr Miranda walks us through a multi-family deal - 7 bachelor units with an asking price of R580,000 (US$37,440) and cash flowing at R7,700 (US$496) a month.
We look at the profitability of the deal, the Return on Investment and some of the risks that are embedded in this deal.
We also explore ways in which we can mitigate risk in our investments during this time.
So get your pen and papers out and click play, because you are in for a treat.
Special thanks to Dr Miranda (our co-host) for walking us through this case study. You can sign up for her property mentorship at this link: https://propdocmom.com/
In this week’s episode, we talk to Yanga Stuurman, an engineer, non-executive director and partner in a mining and geology consulting firm.
Yanga is also the founder of a social entrepreneurial venture, Sakhikamva, in the Eastern Cape.
Yanga is originally from a farming village; her parents had farming projects when she was growing up but when her father passed away in 2015, a lot of the farming projects came to a halt and a lot of the villagers lost their jobs and source of income.
That’s when she decided to launch Sakhikamva, a project that teaches villagers how to farm, sell their produce and in turn create food and income security using the land.
She teamed up with the traditional council in her village to get their support and land for farming; the sub-headman helped her 80 - 100 households to pilot the project. The project was such a success that it was rolled out to 2 other villages and is now operating in 3 villages.
The villagers have nutritious and organic food to eat and all the excess produce produced is sold to local supermarkets.
Sakhikamva has also been subcontracted to produce 800 tonnes by a well-known brand in South Africa and Yanga is also consulting with other villages to find new ways to use land to create sustainable income.
This is another inspiring episode. It highlights the importance of land and why land is wealth.
Click play and leave us a link in the comments section below.
In this week’s episode, we talk to Taurai Jack, founder of M5 Property Addicts, a company that helps people invest in property for a targeted return of 15% per annum.
Their aim is to give people, who don’t have enough time or money, an opportunity to invest in the real estate market and make a passive income every month.
Taurai started his real estate journey when he was R7 million (US$421,000) in debt; he was invited to a Rich Dad seminar where he met Leroy Slava (episode 54), who was talking about investing in real estate and creating passive income and he realized there was another way to start investing in real estate.
He then took his wife to the next seminar and she signed both of them up for coaching.
In his first month of coaching, his coach told him he’d have to look at 100 deals and analyse them in order to find a good deal.
He looked at 63 deals and ended up buying a property for R160,000 (US$9,623).
After that he started getting other people involved in his deals. He would get 4 to 5 deals a month (eventually he ended up with 10 deals a month) and would pass those deals onto other investors and get paid from that. He would then use that money to pay off his debts.
It was at this time that he reconnected with one of his former co-workers, Retha Van Rooyen, who told him she didn’t have deals but she had access to money from people who were interested in investing in real estate.
They realized they complimented each other very well - Taurai could get the deals and Retha could get the funds from investors; they could create a property portfolio using other people’s money, and with that realization M5 Property Addicts (m5propertyaddicts.com) was born.
Since its formation in 2017, M5 Property Addicts has done projects in 4 cities - Durban, Cape Town, Pretoria and Johannesburg and now has 70 properties in its property portfolio.
This is another eye-opening episode.
Click play to listen to this week's episode and leave us a note in the comments section below.
In this week’s episode, we talk to Sello Masebi, a Quantity Surveyor and serial entrepreneur, about short term financing for real estate projects, quantity surveying and why everyone needs a quantity surveyor in any real estate project.
We learnt that quantity surveyors are the people who are in charge of financial management, quality control and time management in the real estate project.
This was one of the most eye-opening episodes for us and Sello answered some great questions for us:
🔴 Why is quantity surveying important to real estate investors?
🔴 At what stage of a development does an investor involve a quantity surveyor and why is that important?
🔴 How should investors work with quantity surveyors, how often should they meet, what should they discuss and look over when they do meet?
🔴 For a newbie developer, what would you advise that they should be paying attention to during a project?
🔴 What costs should a property investor be wary of when starting a construction project?
🔴 What are the professional fees charged by quantity surveyors? Are these fees determined by the market or by the size of the project their experience?
🔴 Are there any remedies that one can employ when they notice that a project is running over time and over budget?
You’re really in for a treat and a lot of aha moments.
Click play to listen to this week's episode and leave us a note in the comments section below.
In episode 57, we talk to Toni Ninkovic, a property mentor, who’s originally from Serbia and now lives in South Africa.
Toni grew up in a 19 square meter home in a family of 5. His mom would always tell him not to work for someone and would encourage him to work for himself.
So he started dabbling in entrepreneurship in his teens, by the time he was 12, he was buying his own clothes with his own money and by the time he was 22, he was earning 3 times his mother’s salary.
He realized he wanted more, so he decided to leave Serbia for the US, where he ended up working on a cruise ship, which is where he met his South African wife.
He came to South Africa to meet his wife’s parents and he fell in love with the country and that was it - they stayed.
A few years ago, he went to a 3 day Rich Dad, Poor Dad workshop, which launched him on his current property journey.
He started flipping properties (buying properties low and selling them at a higher price) and made R120,000 (US$7,300) on his first property.
He soon realized that property flipping took a lot of time and energy so moved into property sourcing, where you make money by finding good property deals for other people to invest in.
In this episode Toni also shares with us how he was able to negotiate the cost of a R1 billion (US$61 million) property deal down to R850 million (US$52 million) and how he made 2.5% commission from that deal.
At the end of 2019, he started his own property mentoring company (propertymentor.co.za) and now teaches others how to access the property market.
Click play to listen to this week's episode and leave us a note in the comments section below.
In episode 52, Mizo and I shared that our mission for year 2 of this podcast was to showcase real estate investors in other African countries, besides South Africa, so we are excited about episode 56.
In this week's episode, we talk to Jacqueline Tsuma, a real estate investor from Kenya who helps other investors profit from a rent to rent strategy in various African countries.
Jackie was born in Kenya but has lived on 2 continents and worked in 4 different countries.
Her real estate investment journey started when her husband started sharing how his work colleagues would team up with each other to buy large properties (10 - 50 acres) in Kenya and also flip properties in South Africa.
Hearing these stories got both of them interested in the property market and they soon got a US Dollar loan at 6.5% and used that to buy their first property in Mombasa, Kenya.
They soon realized that that property was great for vacation rentals and could be used to generate them an income and 6 months later, they found themselves shopping for another property, and as they say, the rest is history.
Today Jackie helps Africans in the diaspora enter the real estate market on the continent using a rent to rent strategy.
She helps clients rent properties in various African countries, furnish those properties and then works with them to sublet the properties on Airbnb or to diplomats at a higher price.
She works with a team of experts and investors on the ground in various African countries including South Africa, Kenya and Rwanda.
This is another eye-opening episode.
Click play to listen to this week's episode and leave us a note in the comments section below.
In this week's episode, we talk to Tshegofatso Bodibe, about his journey to becoming an architect and the role of an architect in real estate investing.
Tshegofatso grew up in a mud house in Hammanskraal, South Africa and was raised by his grandmother.
When he was in preschool, their mudhouse collapsed and trapped him and his brother inside, luckily his uncle got them out.
When he was 10, his uncle decided to build his mother a home and Tshego became obsessed with drawing the lines and the plans.
Later he ended up at a high school that focused on technical drawing and he eventually ended up studying architecture.
In this episode he answers some important questions to help us on our real estate journey:
🔴 At what stage of the development does an investor involve an architect and why is that important?
🔴 How do you recommend an investor work with an architect on their development project – how often should they meet, what should they discuss and look over when they do meet their architect?
🔴 Are architects governed by any regulations in South Africa and how do they charge for their services?
🔴 What are some of the challenges that can stagnate or affect a project, that investors should be aware of?
This is another educational and inspiring episode.
Click play to listen to this week's episode and leave us a note in the comments section below.
In this week's episode, we talk to Leroy Slava about his property journey.
Leroy is a husband, a father to a 20-month-old daughter named Hope, a Christian and a full-time property investor.
He currently owns 35 properties but his property journey started by mistake - he was a drug addict for 10 years, since grade 10. When he was 20 his father passed away and left him a house, at the age of 25 he decided to move closer to his mom so he sold the house for R300,000 (US$18,000) to a buyer who then turned around and sold it for R600,000 (US$36,000).
This incident triggered his interest in property.
He started going to auctions, looking for cheap properties, when he got there his perception of money was forever changed - he arrived at the auction and saw guys in Orlando Pirates and Kaizer Chiefs (South African soccer teams) t-shirts, buying 4 properties.
He befriended them and started asking them for advice on selling and flipping houses and they shared their knowledge with him.
A year later, he took some of his money and also borrowed money from his mom and bought his first house at an auction. He made a R60,000 (US$3600) profit from the sale of the house.
After that, he went and bought the wrong house twice and was able to make R224,000 (US$13,400) profit from the sale of one of the houses.
One day his sister, Candice Van Wyk (Episode 17), received an invite from the Rich Dad seminar, it was here that he learned about cashflow and deal analysis, which started him on a buy to let strategy and a focus on creating monthly cashflow.
Click play to listen to this week's episode and leave us a note in the comments section below.
In this week's episode, we talk to Dr Herchel Clarke, a doctor, about his property journey.
Herchel started his property journey in 2017 in Windhoek, Namibia, where he bought his first property thinking it was a good investment.
He shares how he started his investment journey thinking he could only afford 3 properties in his lifetime and how after buying his first property, he realized something was wrong because he suddenly had more month than money and found himself worse off than when he was a student living off of R1500 (US$90) a month.
Just after buying his property in Namibia, he was offered a post in Cape Town, South Africa, and met a couple that introduced him to Dave Ramsey's book - "The Total Money Makeover" which helped him understand his relationship with money.
One day he stumbled on Robert Kiyosaki's "Why A students work for C students", which lead to a total paradigm shift for him and started him on an inner journey.
He soon understood that in order to change his external circumstances, he needed to change within.
Click play to listen to this week's episode and leave us a note in the comments section below.
We have made it to episode 52. We are officially a year old and moving into our second year of business and becoming toddlers.
Our intention in year one was to change just one Brown Woman's life and get them to go on their property journey.
Our focus was solely on content and sharing incredible knowledge on property investing.
We had no business strategy, no business model and no advertising budget. The growth of the podcast has. Been completely organic and we literally put in systems and operations as we went along.
What we did have and still do is an incredible team and their insane work ethic.
So we thought it would be fun to see if we fulfilled this intention and look at how the podcast has impacted our guests - how have they benefited from being on the show?
What new opportunities and connections have come from the podcast?
We also asked some of our listeners to share how the podcast has helped them on their property journey - how have their portfolios grown as a result of the podcast?
We also share how the podcast has impacted us and our property journey and some property deals we are involved in as well as our intention for the podcast for year 2.
In year 2, our focus is on growing and monetizing the podcast so we can extend our reach to other African countries and keep find amazing guests.
We are definitely going to be exploring a lot and will be launching a juicy product for our listeners soon.
We are also going to be hosting our first offline event, with some of our podcasts guests and inviting our listeners to join in the fun.
We share all this in this week's podcast so click play and let us know your thoughts in the comments section below.
In this week's episode we talk to Leon Marincowitz, one of the partners at Quick Buy Invest, a premier flipping company that specializes in buying, fixing and flipping houses.
Leon started his property journey in 2015 when he realized that real wealth was in the title deed.
In 2016 he bought his first 2 houses at a Sheriff's auction. He sold the first property at break even and made a minimal profit.
He renovated the second property and sold it to a family at a profit.
He then started focusing on finding deals and making agreements with sellers in distress so he could contract their properties before they went on auction.
He also moved into wholesaling, which is a different real estate strategy where you help a seller solve a problem with regards to their property, sign a contract with a seller and then sell the contract to the buyer and make a profit on the margin.
In this episode, Leon shares two strategies on how to make a good profit in real estate in a space of 6 months without holding onto property and dealing with tenants every month.
He also shares some of the ways in which he and his partner have built and structured their flipping and wholesaling company in order to minimize risk and generate a steady monthly cashflow.
This is definitely one of our most informative and mind-blowing episodes.
Click play and share your thoughts with us in the comments section below.
In this week's podcast episode, we talk to Dunisani Manganyi, IT expert, full-time real estate investor and mentor about his journey as a real estate investor.
Dunisani bought his first property at the age of 23; by the time he was 27 he owned 7 properties.
He soon started investing in land and flipping some of that land (selling it at a higher price than he bought it).
This was before the 2008 recession, so the market was good, no one had told him about market cycles, so he ended up with a portfolio that was 60% land.
When the market crash did come, the South African market felt its effects in 2012 and he'd already quit his job and was a full-time real estate investor.
He couldn't sell or develop the land because the value started to drop but he still owed the banks so his expenses were outpacing income, he started using his rental income to pay for his life expenses and soon defaulted on mortgages.
He lost 80% of his real estate portfolio and in the podcast, he shares the trauma of watching his properties being auctioned off.
He then shares how he worked with his wife, Thabile, using her credit record to rebuild their real estate investment portfolio during the recession and how they ended up refinancing their residential house to build a property that cash flows at R26,000 a month.
Dunisani now mentors people on property through, Riches and Beyond, an educational property company.
This is yet another inspiring episode that teaches us that losing everything, can actually be the start of something greater.
Click play to listen to this week's episode and share your thoughts with us in the comments section below.
In this week's podcast episode, we talk to Doris Mpela, a full time property investor and mentor.
Doris is an accountant by profession, she got into property because she wanted to retire by the age of 40 and she could see from her work as an accountant that her most successful clients were the ones who owned property.
She bought her first property 15 years ago to live in and then later moved into a different property and rented out the first property.
A few years later she bought her third property and got tenants for that property, she also signed up for real estate courses and mentoring and started her journey in earnest in 2017.
In 2017, she retired from her job and bought 7 properties in 1 year in 2018.
She also started flipping properties to supplement her rental income and make money to buy more properties cash or to pay down a bigger deposit on new properties she was buying.
In this episode, she shares her strategy around flipping, including how she once sold a property in 2 days and buys and sells properties before she even has a title deed in hand!!!
Doris also teaches us about Section 12J, which allows you to use your taxes to buy property, without ever putting any money down or taking out money if you are in South Africa.
This is another mind blowing episode.
Click play to listen to this week's episode and share your thoughts with us in the comments section below.
In this week's podcast, we invited Nqabenhle Manana (episode 28) back onto the show to talk to us about a property fund he is starting - Masibambisane Property Fund 2.
He already has a fund - Masibambisane Property Fund 1, that he started 5 years ago and that has matured and is now paying dividends.
He started Masibambisane Property Fund 1 when he found himself having to forego a few property deals because of lack of funding.
This happened 3 times, the fourth time, he found a deal for 48 properties, and could only afford 20 of those properties, he asked the seller to give him 3 months to raise the funds, so he could buy all 48 properties.
He raised R1.7 million from retired professionals (mainly women) in Kwazulu Natal, South Africa and the fund was born. The fund has since grown to R3.4 million over the last 5 years and has matured.
At the end of 2019, the fund had a return on investment of 83%.
So, if you'd invested R100,000 (US$5,900) with his fund 5 years ago, then your investment would be worth R180,000 (US$10,545) today and you would be getting dividends annually, starting at the end of this year.
Now, Nqabenhle has decided to launch Masibambisane Property Fund 2, with the aim of buying buildings in the inner city in Johannesburg, South Africa.
The aim of this fund is to raise R20 million from investors and to bring in R60 million in debt, in order to grow faster and buy more buildings.
The fund is currently open to investors and closes on December 31, 2020.
The minimum buy-in is R100,000, but individuals who have less money can still invest in the fund, so don't disqualify yourself just yet, you can contact Nqabenhle to find out how you can get involved.
The fund is open to everyone, including those in the diaspora. This is an incredible opportunity for busy investors and we are super excited about this podcast episode and the fund.
Click play to listen to this week's episode and share your thoughts with us in the comments section below.
In this week's episode, we head off to South America and talk to Omayra Bouterse, about real estate trends in Suriname.
Omayra runs the only Black women owned real estate agency in Suriname; she and her partners opened their offices 4 years ago.
She also hosted the first real estate seminar in Suriname and is teaching (at a university) the first real estate course in the country and she took time out to talk to us about:
- The challenges of the real estate industry in Suriname
- What it's like to operate in a market that has little or no regulation and the work she is doing with the government to regulate the industry
- How political events impact the currency in Suriname and how that has affected the real estate market
- How land ownership laws affect foreigners looking to buy land in the country
- The discovery of oil in Suriname and the opportunities that, that is expected to create in the long run
This is another inspirational episode, because the real estate industry in Suriname is very unique and like nothing we could ever imagine, but Omayra is one of the people shaping and building the industry.
Click play to listen to this week's episode and share your thoughts with us in the comments section below.
In this week's podcast we talk to Lebogang Lebepe, a 27 year old real estate investor and developer. He holds 4 finance qualifications and is a business accountant by profession.
Lebogang has an inspirational story - he was born in a skwatta camp (informal settlement), or as he says - a tin house - and was the first in his family to graduate from high school and go to university and get a degree.
He started off his career as a business accountant where he met real estate and development clients as well as professionals.
He soon noticed that most professionals, who had the funds, didn't have the time to invest in real estate so he started a property fund to help them get started as property investors.
He bought land in an affluent area and built 18 2-bedroom units. It took him 6 months to fill the units with tenants. After reviewing the company's real estate strategy, they realized the development didn't fit the strategy and they sold the units for R12 million (US$696,000) and made a 300% profit.
His company changed strategies and started focusing on developments in the township, renting to young professionals who are looking for affordable, secure and comfortable housing.
In the last 2 years, they've done several developments and are currently working on 6 developments, one of which is in Roodepoort and comprises of 380 units and will commence construction in November 2020.
This is another incredible and inspiring guest and this episode covers a lot of ground in a short space of time.
Click play to listen to this week's episode and share your thoughts with us in the comments section below.
In this week's episode, we interview Ludwe Mageleni, about the Cape Town ekasi market, his journey into real estate and his role in Property Made Easy, a company that he and Brian Sango (episode 44) co-founded.
They started the company to bring professionalism into the real estate space ekasi and to help young Black men and women start investing in property in the township.
To paraphrase Ludwe: "If you're making R25,000 (US$1,455) a month and the banks are willing to give you R700,000 (US$41,000) to buy property, why not buy more than one property?"
Ludwe explained to us that bachelor units in the township in Cape Town can cost as little as R190,000 (US$11,062) and rent for R3,500 (US$204) per month.
The rent more than covers the mortgage and instead of getting one property, young people in their 20s easily end up with several positive cash flowing properties and start building a property portfolio in a location that they understand.
They can then use that cashflow to go buy properties in more expensive neighborhoods at a later date if they want.
This was another eye-opening episode because we learned new things about the Cape Town ekasi market that we didn't know.
Click play to listen to this week's episode and share your thoughts with us in the comments section below.
In episode 44, we talk to Brian Sango, aka The Property Guy, whose story reads like Paolo Coelho's "The Alchemist", so be prepared to believe in dreams.
Brian is originally from Zimbabwe, he moved to Cape Town in his teens after having a dream about Table Mountain and the city.
He told his mom about the dream and she suggested he move to Cape Town. So he did. He didn't know anyone in the city and started off as a parking attendant and cleaner at a Woolworths restaurant in Durbanville.
One day, one of the waiters at the restaurant fell sick and he was asked to help serve customers and was soon promoted to a permanent watering position.
During his tenure as a waiter, he met a couple that always wanted to be served by him and they'd always try to invite him to their offices. Little did he know that that couple owned the largest Remax franchise in the Western Cape; they eventually hired him as a PA and gave him a rent free apartment in Vredehoek.
Brian stayed at Remax from 2010 to 2013 where he learned a lot about the real estate business, especially advertising and marketing.
In 2012, he became a licensed real estate professional, left Remax in 2013 and joined a family business selling real estate.
A few years later, when the company relocated to Johannesburg, he was invited to join another property company, where he was tasked with selling property online in Johannesburg and Pretoria, from Cape Town.
Over a period of 5 years, he was able to sell 540 flats (apartments) online without ever having set foot in the apartments or neighborhoods where the apartments were located.
His success in this business, led him to launch his own company, Property Made Easy, which works with clients all over the world and helps investors invest in the metros and township properties in South Africa.
If you feel stuck and are doubting yourself and your resources, then this is another inspirational episode for you.
Click play to listen to this week's episode and share your thoughts with us in the comments section below.
In this week's episode we talk to Khosi Makolota, from Senaoane, Soweto and she shares her inspiring 8 year journey on building 14 units from scratch.
Khosi's grandmother owns property in Soweto, which got her interested in property.
She shares how she grew up believing townhouses were for White people, but her grandmother explained to her that she could build townhouses in Soweto.
So in 2012 when her grandmother's friend decided to sell some of his land (3 stands), her grandma offered to help her buy the land.
She spent years trying to get funding to develop the stands, the banks refused to lend her money and she was met with many challenges, one of them being that she'd get quotations for labor and materials for the development, raise the funds with her grandmother, and then go back to the contractors and be told that prices had gone up.
She even considered selling her primary home to get the money she needed to start developing the land, but after finding out that she'd only get R320,000 (US$18,387) from the sale, she decided against it.
She ended up quitting her job as a travel agent and selling one of the stands to raise the money for the project, but it was still not enough to get her started. She started attending real estate seminars and eventually connected with Henry Chitsulo, who then connected her with Victor at uMastandi (episode 4), which is how she got funding in February, 2019.
Getting funding definitely sped up the process but even that had it's own hiccups - in the process of construction, her contractor fell ill and passed away and she had to manage the contractor's team and eventually hire a new contractor.
Construction on the property was completed in January 2020 and by February 2020, Khosi already had 9 tenants in her 14 unit property.
Apartments rent from R2,500 (US$144) to R3,500 (US$201) per month.
Click play to listen to this week's episode and share your thoughts with us in the comments section below.
In this week's episode we brought back , from episode 29, to talk about his real estate journey.
In episode 29, Obakeng challenged us to think big with our goals and shared his property accounting knowledge with us.
In this episode he gets vulnerable and shares how he made his first million at 21 years old (in the 80s in South Africa!) by selling 140 properties in a new development in one year.
He was an intern at an accounting firm and already a millionaire, but because of the political situation in the country, he had no one to advise him. He went on to invest in other businesses and made even more money and started sabotaging his success.
This week Obakeng takes us through his money journey and shares some of the mistakes he made with the way he thought about money, felt about money and behaved with money and how he was able to self correct when he realized that money was not the problem and that the problem was him and his subconscious beliefs.
Obakeng is currently working on a development for 170 units, which is right in line with his belief that success requires one to think big.
This is truly one of the most inspirational podcasts we've recorded.
Click play to listen to this week's episode and share your thoughts with us in the comments section below.
In this week's episode we talk to Jody Moore, owner of Keep It Real Properties.
Jody is a commercial real estate agent who started selling residential property right after graduating high school.
He got introduced to real estate by his wife's grandmother who was a residential real estate agent.
She had multiple show houses, on a Sunday afternoon, and she'd asked him to help her by showing some people around the houses on weekends.
He started reading the materials she left behind at the properties and before long, he was hooked on real estate.
In this podcast we talk to Jody about the importance of working with a real estate agent and the benefits of having an agent on your team and also ask him some key questions such as:
♦️Why should a property investor utilize an estate agent to get property deals - why not do it yourself?
♦️What qualities should a property investor look for in an agent?
♦️What system can you use to make sure you have a constant stream of deals?
♦️Where are the best places for commercial property investors to be looking for deals at this moment?
♦️How will the pandemic change and affect the commercial property space?
Click play to listen to this week's episode and share your thoughts with us in the comments section below.
In this week's podcast we talk to Mawinnie Kanetsi from Lesotho.
This podcast is completely different to any other podcast we've done, not because our guest is from Lesotho (although that excites us because we're crossing borders), but because this guest invests in guest houses, not in residential property.
This is another take on real estate investing - Mawinnie shows us that we can go beyond residential real estate and start marrying our passion for travel with real estate and land.
Mawinnie's journey started off in 2002, when she bought a special site in Maseru to build rooms to rent. She built two 2-bedroom flats (apartments), and got tenants in to pay the rent.
Shortly thereafter she went to Harare, Zimbabwe to visit a friend and stayed at her guest house, when she was there she asked a lot of questions and learned a little about the business; when she got back to Maseru, she started thinking about opening up her own guest house.
She and her husband then converted the property into a 12 room guest house (Phomolo Guest House Matlala, Maseru). The guest house hosts short term and long term expatriates.
In 2007, she bought a guest house in Bloemfontein and turned that into student accommodation for 7 students.
In 2016, she bought a house on an estate and turned their primary home into a 7 roomed bed and breakfast. She also developed some land they'd bought and built a 6 bedroom guest house.
They have also gifted their daughter with a 3 bedroom property to run as her own AirBnB.
If ever you're in Lesotho definitely check out and stay at Mawinnie's guest houses:
-
Village Court Guest House
-
The Hillside Cottage Guest House
-
Phomolo Guest House Matala
Click play below and let us know your thoughts in the comments section.
In this bonus episode we speak to Neo Moloto, Mizo’s 10 year old daughter.
In the spirit of Youth Month, as well as believing in ‘starting them young’ - we wanted to hear what she’s been learning and seeing from Mizo’s property journey.
Click play below and let us know your thoughts in the comments section below.
In episode 39, we talk to Nigel Adriaanse, the first Chairman of Shanduka Black Umbrellas and now CEO of EDPF (Enterprise Development Property Fund).
EDPF is on a mission to change the South African landscape by helping more people of color get into property investing by teaching them about the property market and to raise their own capital through equity partners and bank funding.
In this interview Nigel shares his real estate journey with us and how he sort of "fell into real estate" 20 years ago and then quit his job in 2016 to start EDPF because he saw that most people of color in South Africa don't understand the language of finance and this was holding them back financially.
He started EDPF without any funding and has been able to connect with a whole host of organizations that are able to give support in kind.
EDPF's academy gets 1000 applications every year and can only accept 50 candidates.
There's a need and a demand for real estate knowledge in South Africa and one of the things we discuss in the podcast is how established investors can help newbie investors by sponsoring them to attend EDPF's academy.
Click play to learn more about Nigel's property journey and the incredible work that EDPF is doing in property.
Let us know your thoughts in the comments section below.
In this episode we talk to Dumisani Hlabano, father of 2 and a Chartered Management Accountant at FMCG.
Dumisani started his real estate journey in 2014 after 3 years of researching and studying the market and what he calls "analysis paralysis."
One day he realized that the only way to be in real estate was to take the plunge and start doing deals in real estate.
When he did eventually start, he went big and bought 5 properties in 3 months in Lonehill, Four ways, in what Mizo calls an "A-list" suburb in Johannesburg.
His properties have a 12% yield and an internal rate of return of 30%.
It's very rare for properties in A list neighborhoods to have such high returns, which makes this interview with Dumi so interesting because he walks us through the 1% rule, how he makes his buying decisions and how he is able to leverage his relationships and knowledge of the neighborhood to get the best deals.
He's now moving into the commercial real estate space.
Click play below to learn how Dumi was able to build a portfolio of 22 units in 5 years.
In episode 37, we talk to Witness Mdaka who was born in Giyani and grew up in Tembisa, Johannesburg.
Witness' journey into real estate started in his teens, in 2007, when his mother found out she'd overpaid her mortgage by R150, 000 (US$8,000), she used part of that money to build 6 back rooms and a garage in their yard.
She tasked Witness with managing the rental income for the back rooms and explained to him that that that money would be used to pay for his university fees.
He did use that money to go to Wits University, but unfortunately he failed his first year and his mother encouraged him to apply to Pearson's Institute where he studied business.
When he got married he and his wife bought his first property for R440, 000 (US$23,750) in Kempton Park so they could use the rest of the funding they qualified for to get more property.
When his mom passed on, he and his wife gave his apartment to his younger brother and his niece and converted this mom's property into an 11 unit property that cashflowed at R16, 500 (US$890) per month.
He then gave the property to his brother to manage, which led us to a whole discussion on how powerful our family homes can be when it comes to helping the family financially.
In 2015, Witness' journey skyrocketed - he bought 4 properties in 1 year and walks us through how he did that in the podcast.
Today, his company has 70 units in the township, with an average of R2,500 - R3,500 per month and has now moved into buying rundown properties in predominantly White suburbs, rezoning them and building apartments.
Click play to learn more about Witness' property journey and let us know your thoughts in the comments section below.
In honour of Africa Day, in this week's podcast episode we talk to Papa Boachie-Yiadom who was born in Ghana but grew up in South Africa.
He studied Actuarial Science at the University of Pretoria and soon realized that there were other avenues to focus on if you wanted to create wealth.
He took a job in the home loans division of a bank so he could learn about the home loans process.
He bought his first house 5 years ago and soon thereafter, attended a real estate seminar run by Nqabenhle (episode 28) who was looking for investors for 40 units in Johannesburg CBD.
He bought 4 out of the 40 units and paid R700, 000 (US$38,000) in total, using bank funds. He still owns those units and rents them out for R20, 000 (US$1100) a month.
In the podcast, he told us that this kind of return on investment is a once in a lifetime opportunity.
A few years later he bought a 2 bedroom unit in the CBD for R270, 000 (US$14,575) and rented it out for R6,500 (US$351).
He then built a relationship with a real estate agency so he could start getting access to deals before they were even advertised on the market.
Click play below to learn how Papa built that relationship and how he was able to build his portfolio to 9 properties in 5 years.
Let us know your thoughts in the comments section below.
Side bar: in this podcast Vangile promised to share one of her friend's travel podcast. The podcast is called: Black Woman Travel Podcast. You can check the interview she did on the podcast here: https://blackwomentravel.ashalbh.com/chapter-1-vangile-of-wealthy-money/
We did tell you that Episode 35 would be a jam packed episode!
We had to bring our guest back, Stuart Shepherd, to talk to us further as we realised that we did not cover the topic of refinancing on his podcast episode.
Thank you to Stuart who was willing to show up to do this bonus. If you haven't listened to Episode 35, make sure you listen to it and listen to the bonus too.
Grab a pen and paper, click play and let us know your thoughts in the comments section below.
In this week's podcast, we talk to Stuart Shepherd, the owner of 7 Seasons Mortgage Originators, about getting funding for investment properties.
Stuart started off his career working for a bank and knows all about how banks make their funding decisions.
This is actually one of the most important podcasts we have done so far.
In this podcast we explore the following questions and topics:
-
Why you need a mortgage originator on your team
-
How banks work, what they look for when making funding decisions and how they decide who to fund
-
Heat documents you need when applying for a mortgage as an individual, a married couple or a self employed entrepreneur
-
What to do if the bank rejects your mortgage application
-
How to fix your credit score
-
How the corona pandemic is impacting the mortgage industry
-
How to hire the right mortgage originator and what to look for in an originator
-
How to buy property in a partnership
-
What to do it you're married in community of property and your partner is not good with money
This is a jam packed episode, we recommend you get a pen and paper, click play and let us know your thoughts in the comments section below.
In this episode we interview Nomcebo Masuku who is on a mission to own an entire street of properties.
Nomcebo is an engineer who started her journey with her partner, who convinced her to buy a 2 bedroom house in Westdene, Johannesburg.
Once they bought the property, they moved into it as they refurbished it, added an extra 2 bedrooms and rented it out to 6 students.
They paid a mortgage of R9, 000 and made a rental income of R15, 000.
A few years later, they bought a rundown property in Melville, Johannesburg, moved into that one as well, refurbished it and rented it out to 10 students at R4,000 per month per student ans now make a cashflow of R40, 000 per month.
Their mortgage for that property is R12,000.
They then went back and bought 2 more properties in the same street as their first property in Westdene and are now on track to buy all the properties on that street.
This was definitely one of our favorite episodes because of the way they buy and renovate their properties - they live in the property, do their own renovations and get tenants as each part of the property comes together, so they don't lose money in the process.
They have an 82% retention rate for their properties because of the way they renovate them and upgrade them.
Nomcebo and her partner have now started a company, Solwazi Engineering Turnkey Projects, helping newbie investors maximize their return on investment in their properties.
Click play and let us know your thoughts in the comments section below.
In episode 33, we interview Hannes Dupper, who started off as an entrepreneur in his 20s and made R14 million by the age of 26; investing in property.
Through a series of mishaps, he lost most of the money and reinvented himself.
He's now the Managing Director of the DJV Group, a company that helps newbie investors start investing in property without doing all the leg work.
DJV offers mentorship and education to upcoming property investors; over time they realized that a lot of people don't have startup capital to get started as property investors- or they reach a ceiling where the bank won't give them any more money.
So they started offering people alternative ways to invest in property:
-
People can invest R150, 000 ($8000) in DJV and make a return of 20% per annum over 5 years
-
People can contribute R2, 000 ($106) per month over 5 years and still get a return of 20%
They (DJV) take investor money and use that to buy gap housing - 2 bedroom, entry level properties that costs between R600, 000 and R1 million. After 5 years the property appreciates in value and also becomes cashflow positive.
So the company benefits and the investors benefit.
This is a really informative episode and it's perfect for the investor who's short of time or just doesn't want the hassle of doing the leg work of deciding on the perfect property to invest in...
Click play and let us know your thoughts in the comments section below.
In episode 32, we talk to Zakhele Myeza about his journey in real estate.
Zakhele was introduced to real estate at a young age by his mom who was a real estate agent.
He fell in love with the way sellers described their properties and started understanding what people were looking for in property.
His real estate journey is interesting because he started his property journey with a 4 bedroom rental property where he was paying rent of R6500 (US$340) a month.
He built a great relationship with his landlord who then gave him permission to sublet the property.
He started adding value to the property by making it beautiful and ended up renting out the 3 extra bedrooms for R5,500 per room per month.
He saved on rent and was making a profit of R10, 500 (US$556) per month by subletting the property.
He then rented another 3 bedroom property for R7, 000 per month in the same building, renovated it and rented out each bedroom in the apartment for R5, 500 per month.
He now had an extra R 9,500 (US$503) per month.
He has since branched into house ownership and owns an 8 sleeper multicultural student accommodation and is involved in a 16 sleeper house hack.
In the podcast he shares how he's pivoted the student accommodation during this pandemic to continue generating positive cashflow.
Zakhele also teaches and coaches people to house hack and invest in property.
You really don't want to miss today's podcast episode.
Click play below and let us know your thoughts in the comments section below.
In today's episode we talk to Zamantungwa Khumalo, a full time property investor who started building her property portfolio at the age of 27, from a hospital bed (yep!).
Zamantungwa started tracking various neighborhood trends in Johannesburg at a young age and was always interested in owning real estate, but took a while to get into the game, because she was scared of taking on that much debt.
She set aside her real estate goals, until one day, when she found herself in hospital and decided to use that time to run the numbers, find out how much she qualified for and look at how she could afford to buy 2 houses at a time for her 27th birthday.
Even though she qualified for less than a million rand, she was able to purchase 2 properties in Johannesburg, South Africa.
After that she decided to keep gifting herself with properties for her birthday.
She has grown her portfolio by focusing on maximizing the money she qualified for and buying two properties at a time, eventually she was able to grow her portfolio to focus on property full time.
Click play and listen to Zamantungwa's story and let us know your thoughts in the comments section below.
In episode 30, we decided to do something different - we wanted to talk about the personal finance and property and why the Property Magicians Podcast exists and is relevant.
Our guest for this episode is Vangile Makwakwa, the host of the podcast.
Vangile starts by talking about financial trauma and how it affects our finances and how our relationship with our bank accounts impact our property investment journey.
We then delve deep into the purpose of the podcadt and why it came to be and why representation matters and how that impacted her property journey.
We hope you enjoy this week's podcast. Click play and let us know your thoughts.
Who knew tax could be soo exciting and lead to a complete mindset shift?
Get a pen and paper and prepare to be blown away by today's podcast.
In today's podcast we talk to Obakeng Gaitate, a chartered accountant who focuses on property tax.
Obakeng has written 12 books and as he says: he has paid for his school fees in the property market by making and losing millions in property.
He made his first million in property at the age of 21 and now helps his clients plan their property estate for the next 400 years, so they leave behind a legacy for their children.
In this episode, Obakeng explains generational wealth and how you can start to build it, and why you need an accountant who understands property on your team.
He also answers some key questions like:
-
What are some key tax laws and taxes that newbie property investors should know?
-
What legal tax hacks that make property a lucrative investment?
-
How can we avoid paying tax on rental property?
-
What are the tax benefits of home ownership?
-
When do you pay capital gains tax, how is it calculated and how can you avoid paying it?
Click play and let us know your thoughts on today's episode in the comments section.
In this week's episode we interview Nqabenhle Manana who has managed to build a property portfolio of 105 properties in 13 years.
Nqabenhle bought his first property for his grandmother and his second house his wife and kids.
He looked at how hard the executives at his company were working and how much they earned and started having doubts about the salary route; luckily a friend told him about Robert Kiyosaki's book, "Rich Dad, Poor Dad."
One week after reading the book, he bought his first property, for R80, 000 (US$4,970) in Windsor East, Johannesburg, South Africa.
Three months later, he had his first tenant and was renting out the property for R2,500 (US$155) a month.
A few months later, he bought another house in the same complex and he was hooked - he saw how property could replace his income.
A few months later, a friend told him about investing in the CBD and he changed his investment strategy from buying houses to buying apartments in the CBD.
To grow his portfolio to 105 properties, he focused on:
-
Cashflow
-
Properties with a 20% return on investment
-
Plowing back all his income into his property business
Click play to learn how Nqabenhle was able to do so much in 13 years.
Let us know your thoughts and insight on today's episode.
In episode 27, we go down a different path and talk to Arthur Peters a Business Economics lecturer at Nelson Mandela University, who buys property for equity appreciation instead of cashflow.
Arthur didn't start out as an academic - he dropped out of school because he wanted to know more about making wealth, and purchased his property in 1990 at the age of 22 in Mitchell's Plain, Western Cape, South Africa.
He still owns his first property, which he purchased for ZARR60, 000 (US$3,730) and now rents it out for R4000 (US$249) a month, which means that this property has paid itself back several times.
After buying the first property, Arthur decided to go traveling and also go back to school.
He moved back to South Africa in 2003; purchased his second property for R320, 000 (US$19,900) and now rents that out for R1,500 (US$94) per month to his mother.
He bought his third property in 2006 for ZAR1 million (US$62,170) in Gordon's Bay, Western Cape, which he started off renting out as a guest house, but now rents out to long term tenants.
Arthur is now focused on buying his fourth property.
Click play to listen to his story and let us know your thoughts on today's episode.
In episode 26, we interview Khanya Ngonyama on how he was able to go from 0 to 8 properties in 6 years.
Khanya is a water and environmental engineer and he runs a small water company.
A few years ago, he started thinking about financial freedom and realized that having one salary is not sustainable, that's when he started looking into various investment vehicles and eventually decided on property investing.
He joined P3 Investments and was adviced to start building a real estate portfolio.
He did his research and decided to build his portfolio by buying properties below R600, 000 (US$40,000) and based on location.
He decided to target Kempton Park, Boksburg and Pretoria North in Gauteng, South Africa, because thats where a lot of companies are, so there are employees who could be tenants.
His first property was a single one bedroom property in Pretoria.
He bought his second property off plan, using R30, 000 (US$2,000) in savings to pay down the deposit.
After that, he decided to buy 1 property a year and focused his attention on building his credit, learning how to buy property on auction and building relationships with agents in order to make his goal of one property a year a reality.
Click play and hear how Khanya has been growing his property portfolio.
In episode 25, we talk to Ma Josephine, who was referred to us by TUHF because of her remarkable story of tenacity and just all round awesomeness.
Ma Josephine is a domestic worker, who came to Johannesburg from the North West province of South Africa.
She came to Joburg, for the same reason most people do - looking for a better life.
Along the way she started to see how so many young kids would come to the city to study and would struggle to find accommodation.
This sparked her interest in student accommodation and how to solve the housing shortage in this market.
Through a series of events she was introduced to the owners of an inner city building, Harmony House, and later given the opportunity to buy the building in 2000.
She had no money to buy the building and she couldn't get a bank loan but she remembered that 2 years ago (in 1998) she had been told about TUHF.
She went to TUHF and was a granted a loan, but couldn't take up residency in the property for 8 years, because the building had squatters living in it.
She finally took full occupancy of the building in February 2009, got more funding from TUHF and renovated the building to accommodate 124 tertiary students.
The building got instant accreditation from NSFAS and was one of the first student accommodations in Doornfontein.
Today Ma Josephine's building cashflows at R409, 000 per month and is still being extended to fit an extra 60 units.
Hers is a story that makes all of us believe in our dreams and reminds us of our own power.
Click play and allow yourself to be inspired and to keep dreaming bigger.
In episode 24, we talk to Khali Masooane, a commercial broker, about the commercial real estate market.
Most people think real estate and think about the residential market and how to service that market.
Some of us also think about AirBnB or student accommodation; but very few of us think about commercial property and the opportunities in that market.
Khali told us that the real estate market is a trillion rand market and the residential property niche is a small part of that market.
The commercial real estate market is large and expands beyond the retail sector and includes manufacturing, industrial buildings and even hospitals.
Some of these sectors don't have a lot of competitors and are underserved, which opens up a lot of opportunities for interested investors.
The other interesting thing about the commercial real estate market, is that properties can take a long time to rent out but lease contracts can be as long as 10 years, which guarantees cashflow for 10 years!
And some tenants in the commercial property space will often pay their rent a year in advance, unlike in the residential market where tenants pay monthly.
This podcast episode will definitely open your eyes to all the many opportunities in the real estate market.
We can't wait to hear your feedback after you listen.
In episode 23, we interview Nicolette Mashile, also known as the Financial Bunny on YouTube and Instagram.
This is the perfect podcast episode for newbie investors because Nicolette shares all the lessons she learnt on her real estate journey and some of them will have you open mouthed:
-
Buying her first apartment cash and then signing an offer to purchase on a second home and ending up paying R125, 000 (US$8,555) to get out of the agreement
-
Buying a dream house in a dream location, only to find out that it was overpriced and has a lot of structural issues
-
Dealing with nightmare tenants
-
Starting a real estate investment company from a social media video
In this episode you will learn:
-
What to look for when buying a house and how to determine the price of a property
-
What questions to ask when you start buying a house
-
Why you should work with home inspectors and structural engineers when buying property
This episode is a mix of personal finance advice and property investing advice.
You're in for an amazing treat. Click play and let us know your insights and feedback in the comments section below.
In episode 22, we asked Meyer de Waal to come back to the show and talk to us about creating real estate structures.
After our interview with Nqabakazi in episode 13, we got a lot of people enquiring about trusts and property investment companies and we thought it would be best to bring in an expert.
Meyer is the perfect person to answer all our questions on structures because he's a conveyancing attorney with an understanding of estate planning and as he pointed out during the show - it's easier to do the right thing from the get go, than to untangle the wrong thing later.
The structures we set up for our real estate businesses impact the amount of taxes we pay, access to funding and how quickly we grow our portfolios.
Knowing the advantages and disadvantages of each structure can make a big difference to our progress and growth as investors.
Here are some questions we look into and dissect in the podcast:
-
When and why is it beneficial to set up a property company?
-
What are your legal options if you are married in community of property and your partner has a bad credit record and you don't want to divorce?
-
Why and when is it beneficial to set up a trust?
You don't want to miss this episode. Get a pen and paper and be prepared to be blown away.
Click play ans let us know your thoughts in the comments section below.
In episode 21, we interview David Beattie, the author of "The expert landlord" and owner of Equip Property Services, a real estate letting brokerage firm.
David started off as a property investor and soon realized that he was a better property manager than investor, so he changed gears and built a brokerage firm that specializes in property management.
In today's episode David explains how to hire a good property manager:
- Look for references and referrals
- Make sure the property manager is an expert in rentals
- Ask for tenant screenings
- Find out if they specialize in the area
- Make sure they have a valid Fidelity Fund Certificate
David also answered some key questions for us in this episode:
-
When should a landlord hire a property manager?
-
What is the role of a property manager?
-
How do you mitigate cashflow problems when tenants don't renew their lease and you have no rental income?
-
How do you know you have a great property manager?
For more information and resources on property management and leasing go to: theexpertlandlord.com
This is the second part of episode 20, the podcast on land.
In part 2 of the podcast, our guest is Manti Maifadi, she and her husband, Sam, own Naledi Farm, an agritourism destination for guests who come from the city.
In this incredible episode Manti shares how they've been able to build a business around the land, beyond just your traditional sales of fresh produce.
They've crafted a special niche for themselves by creating a place for healing and teaching, where they give guests the opportunity to reconnect with nature and walk the land as they teach them about gardening and also teach kids how to work with their hands and be self reliant.
The most amazing takeaway from this episode is how Manti and Sam have been able to create 7 streams of income from one piece of land:
1) Harvest Table events where they invite a speaker to share knowledge and also provide food 2) Kids day camps and sleepover camps 3) Gardening courses 4) Garden to table cooking demos 5) Monthly farmers markets on the land 6)Daily sales of produce 7) Events and conferences
In this way, the land also pays for itself and is also abundant in food and income.
You will have to listen to the podcast to understand how they have been able to do all this.
Episode 20 is a different type of episode. We felt like 20 episodes (if you don't count the Christmas and New Year specials) was a milestone episode so we decided to talk about land and the importance of land when it comes to building generational wealth.
In episode 18, we heard how in Zambia people don't want to buy apartments because they see land as wealth.
So we invited 2 guests to talk about this, which is why episode 20 is split into 2.
Our guest in part 1, is Keidra King, she is African American, she shares a beautiful story of her ancestor, Agnes, 7 generations back.
Agnes was a slave and when she got her freedom, she was given land. She decided to use that land to plant apple trees.
Those apple trees helped her make a living and support her children.
Because of those apple trees and the land, Agnes' grandchildren were able to attend university, 2 generations after slavery.
That college education mean that the next generation had a better stepping stone and has been involved in a lot of revolutionary events in African American society.
All this from one plot of land.
We spoke to Keidra about so many other things and you will just have to listen to the podcast to hear what was covered.
We cannot wait to hear your feedback.
Our guest in episode 19, is Andrew Walker, co-founder of the South African Property Investors Network (SAPIN).
Andrew is a property investor and coach and is passionate about educating people about real estate.
In this podcast he takes us through his property journey and the amazing benefits of SAPIN.
Andrew's property journey started when he bought a pub and 2 bed house for R225, 000 (US$14,975) and then sold it 3 years later for R500,000 (US$32,840).
In that moment he understood the earning opportunity of real estate.
He and his wife then moved to London, started attending wealth seminars, took out a loan and hired a coach who started helping him build a property portfolio and build his power team.
During his time in London, Andrew was involved in over 600 real estate transactions and learned about various ways to structure deals and why deals go bad.
He eventually moved back to SA and started SAPIN in 2014 and started coaching in 2016, as a way to share his knowledge.
SAPIN has become the Bigger Pockets of South Africa, which is why we are so excited to have Andrew on this show and cannot wait to hear your feedback.
Click play and let us know your thoughts on the comments section below.
In episode 18, we interview Inutu Zaloumis-Kalumba our first Zambian guest in the show.
She is the co-founder and Managing Director of Pam Golding Properties, Zambia.
Her experience and expertise provides indepth analysis of the property market regionally, to enable developers and investors in real estate to participate in market-driven, market-relevant property projects.
In this episode Inutu shared her knowledge of the Zambian market and the trends she has seen over the years.
She shared the challenges for real estate investors in Zambia:
-
People believe the wealth is in the land, so they don't like buying houses, they prefer to buy land and build for themselves
-
The mortgage market is still relatively new and only people in their mid-forties and below get mortgages
-
Interest rates on mortgages can be as high as 28%
-
Monthly mortgage repayments can go up to 40% of monthly salary
-
Off plan purchases haven't taken off in Zambia because the banking structure doesn't support this
There are also some incredible benefits to investing in Zambia:
-
The market is still relatively new and untapped
-
Real estate has constant capital appreciation. About 10 years ago land was appreciating at 10% year on year, it's now slowed down to 3% year on year
-
AirBnB is only just taking off so there are opportunities with that
-
Transfer of property and land can take less than a month
This has been an eye opening episode and has got us seeing even more opportunities and gaps in the alternative funding niche in other countries.
We can't wait to hear your feedback on this podcast episode.