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.
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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