In this week’s #PropertyMagicians podcast episode we talk to Precious Dludlu who works as an external auditing. She grew up in Hammanskraal, the last born of 7 siblings, raised by a single mother who worked as a domestic worker.
When her mother retired she moved to Bronkhosrtpruit, in grade 12, she decided she wanted to be an interior designer but her parents said no, so she ended up studying internal auditing.
She noticed that having an education and a career were not the way to financial freedom. When she fell pregnant she started to change her mindset and decided to build wealth.
In April 2020, a coach introduced her to a Bigger Pockets book
She started listening to the Property Magicians Podcast and hired a property coach in October 2020 and put in her first OTP in January 2021, by December 2021 she had 6 new properties.
First property made a profit of R1200 per month in Sunnyside.
Second property she was able to convert a 1.5 bedroom unit to a 4 bedroom unit and was able to make a R4,000 a month, on a property that she bought for R300,000.
The sellers offered her the third property since she had bought the second property.
She got 90% of the money from the bank to finance her properties; her savings were able to cover the down payment for the first 3 properties. For the fourth and fifth properties she worked overtime to make the money and then used that extra money to pay the 10% deposit and lawyer fees.
She also sold her house and moved to a rental place because the expenses of maintaining a house and paying rates was very expensive.
She plans on doing an AirBnB strategy and going commercial and moving into the salon industry.
>>>Click play to listen in
Books that have inspired Precious:
“Who moved my cheese” by Spencer Johnson
“The richest man in Babylon” by George Samuel Clason
“Rental Property Investing” by Brandon Turner
Contact Precious
Facebook: https://www.facebook.com/precious.dludlu.3
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 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
Epsiode 34: En-route to owning a street of properties
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
Episode 23: Mistakes & lessons learned from buying 5 properties in 4 years
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