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 61: How to do deal analysis and mitigate risk in real estate
Episode 60: Using village land to solve the problems of poverty
Episode 59: Using other people’s money to grow to 70 properties
Episode 58: Why you need a Quantity Surveyor on your next property investment project
Episode 57: From Fitness Trainer to negotiating a R1 billion (US$61 million) property deal
Episode 56: Profiting from rent to rent on the African continent
Episode 55: From a mud house to building dream houses
Episode 54: Overcoming addiction to own 35 properties
Episode 53: Why it is important to get your mindset right before you start off on your investment journey
Episode 52: How the #PropertyMagicians podcast has impacted listeners and guests
Episode 51: How to make a profit in 6 months flipping (buy, renovate and sell) houses using other people's money
Episode 50: Lessons learned from having your properties being auctioned and rebuilding a bigger portfolio during a recession
Episode 49: How to make money flipping properties and invest in property with your taxes
Episode 48: A high return property investment opportunity for the busy investor
Episode 47: Real Estate investing trends in Suriname
Episode 46: From growing up in a tin house to a 380 unit development by the age of 27
Episode 45: Exploring high cashflowing properties in the Cape Town ekasi market
Episode 44: From cleaner to building an international company
Episode 43: An inspirational 8 year journey to developing 14 units
Episode 42: Lessons learned from making R1 Million by 21
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