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 41: The Benefits of Working with a Niche Property Professional
Episode 40: Investing in guest houses in Lesotho
Bonus Episode: Property Kids Podcast
Episode 39: Changing the real estate landscape to reflect the demographics of South Africa
Episode 38: How to build a portfolio of 22 properties in an A-list area in 5 years
Episode 37: How to build up to 70 units with a minimum rent of R2,500 rent per month
Episode 36: 9 Positive cashflowing properties in 5 years
Episode 35 BONUS: The ABCs of getting funding for your next property
Episode 35: The ABCs of getting funding for your next property
Episode 33: How to invest in property without any legwork
Episode 32: How to make money in real estate without owning or selling property
Episode 31: Emboldened at 27 to start a property portfolio
Episode 30: A sit down with the host of the Property Magicians Podcast to discuss personal finance and property
Episode 29: Tax planning: How to build a property empire that lasts for 400 years
Episode 28: How to build a portfolio of 105 properties in 13 years
Episode 27: Buying property for equity appreciation
Episode 26: How to go from 0 to 8 properties in 6 years
Episode 25: From domestic worker to owning a building that cashflows at R409, 000 per month
Episode 24: The ABCs of commercial real estate
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