In today’s podcast episode, we talk to Teko Mothlabi, founder and CEO of Roomsta, a digital marketplace (web-based) that connects tenants to back room rentals.
Teko started this business after seeing that almost every house in the location or Black neighborhoods in South Africa had a back room and that most young people felt under pressure to move into the suburbs and pay higher rent the moment they started working.
He noticed that the market had changed - young people no longer see the suburbs as the only option and don’t mind renting back rooms as they move from different provinces for work purposes.
At the same time, most back rooms have changed and have become way nicer, which makes them more attractive.
This is where Roomsta comes in - no one caters to this market, no one connects the tenants and landlords and the landlords run their real estate business in an informal manner so they’re not able to qualify for funding and get money from the banks to buy more property.
In this episode, Teko shares with us how he was able to grow this business and some of the challenges of building this platform and getting people to use it.
Click to listen to the podcast and leave us a comment in the comments section below.
Episode 79: Growing a property investment to own two residential blocks of flats
Episode 78: How to grow your property portfolio using multiple investment strategies
Bonus Episode: Why families have the same money patterns
Episode 77: Building a boutique hotel chain on the African continent
Bonus Episode: Real Estate investing trends on the African continent
Episode 76: Looking at the Spatial Planning and Land Use Management Act
Episode 75: How to buy 13 properties in one year without putting any money down
Episode 74: How to invest in property in different countries as you travel the world
Episode 73: Diversifying risk by investing in property in the Stock Exchange, South Africa & China
Episode 72: Why you need a Structural Civil Engineer in your real estate tribe
Episode 71: How to create different cash cycles as a property developer
Episode 70: How to grow your real estate portfolio using Airbnb in South Africa
Episode 69: The A to Z on buying properties at auction
Episode 68: Interior Architecture & how Covid is changing building trends
Episode 67: Using shipping container homes to solve the housing crisis and build a property portfolio
Episode 66: The New Year 2021 Episode - Taking a holistic approach to real estate investing
Episode 65: The Christmas 2020 Episode
Episode 64: How to get funding for commercial property in South Africa
Episode 63: How to profit from multi-let properties that cost less than R1 million (US$65,772)
Episode 62: The importance of a town planner and zoning in real estate investing
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