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/
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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