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 115: Unconventional Real Estate
Episode 114: Creative ways to fund property developments without bank funding
Bonus Episode: Raising over R2.6 million in the stokvel and changing our name
Episode 113: How to work with a quantity surveyor to increase your profits and decrease expenses
Episode 112: Growing a construction company by 400% in 10 years
Episode 111: Investing in property straight out of college & owning a 9 unit property at the age of 28
Bonus Episode: Raising R268,974/US$17,935 in 7 days to invest in property
Episode 110: Buying 3 positive cash flowing multi-lets during a pandemic
Episode 109: The magic is in your mess
Episode 108: From rural Limpopo to building a multi million rand property portfolio
Episode 107: How to build a property portfolio that replaces your income in less than 5 years
Episode 106: How to make 2 to 3 times your rental income as an AirBnB Hostpreneur
Episode 105: How to own 6 properties in less than 12 months
New Year Episode: Setting property investment intentions and understanding your investor archetype
Episode 104: The Low Money or No Money Down strategy of Property Investing
Episode 103: How to go from a negative cash flowing property to raising R9 million (US$571,000) for a property development
Bonus Episode: Making 15% Return on Investment in 3 - 6 months
Episode 102: How to make money from sourcing real estate deals
Episode 101: How to raise R331,000/ US$21,000 in 5 weeks in a property stokvel/fund
Episode 100: Celebrating 100 episodes and using creativity to build a profitable property business
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