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.
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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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