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.
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
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
Aligned Money Show
Dubai Property Podcast
IBKR Podcasts
The Ramsey Show
The Clark Howard Podcast