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 23: Mistakes & lessons learned from buying 5 properties in 4 years
Episode 22: Setting up real estate investment structures
Episode 21: The science of property management
EPISODE 20: Part 2 All about land: Creating 7 income streams from 1 piece of land
Episode 20 Part 1: The connection between land ownership and generational wealth
Episode 19: Lessons from being involved in 600 property transactions
Episode 18: Real estate investment trends in Zambia
Episode 17: Building an investment property portfolio with 600 residential units
New Year Special: property goal setting exercise
Christmas Special: How to go from zero units to multilets in record time
Episode 16: How to negotiate and own 8 properties with no money in 18 months at the age of 24
Episode 15: How to make R35, 000 per month from 1 property in the township
Episode 14: Investing in 16 high cashflow units Ekasi
Episode 13: Building a financial legacy for your children using real estate
Episode 12: From high-school drop out to properties that cashflow at R270, 000/US$18,000 per month by 23
Episode 11: How to go from 1 property to 74 property deals
Episode 10: How to own a profitable commercial building regardless of your income, networth or credit record
Episode 9: Building a property portfolio that makes R105, 000/ $7000 income a month
Episode 8: How to make an extra R18, 000/$1,800 profit per month with 1 property
Episode 7: How to start a properly portfolio for less than R3000/$300 per month
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