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.
Episode 132: What happens when someone owes you money and won’t pay
Episode 131: Creating financial freedom with real estate in Botswana
Episode 130: Growing a coffee brand throughout South Africa
Episode 129: Building student accommodation in the township
Episode 128: A fintech company that helps you go from first time homebuyer to property investor
Bonus Episode: The most common property investing questions with PropDocMom
Episode 127: Building a real estate portfolio through intuition and ancestral wisdom
Episode 126: Understanding your why when investing in property
Episode 125: Talking to the author of “Stokvels - How they can make your money work for you”
Episode 124: From sourcing deals for investors to investing in multi-lets
Bonus Episode: How to determine if a property is profitable or a good investment
Episode 123: How to earn passive income with short-term rentals as a full-time employee
Episode 122: How to make R27,000 (US$1,695) per month on your first property flip
Bonus Episode: Make 17% ROI per annum in your next property deal
Episode 120 (repost): From Being a Creative to making R100k (US$6500) in his first real estate deal
Episode 121: Buying your first property at 21
Episode 119: How to make a fortune developing low-income housing in South Africa
Episode 118: Making US$2,000 - US$4,000 a month with a guest house in Botswana
Episode 117: Using multiple strategies to build your real estate portfolio
Episode 116: How to own property in Rwanda
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