Our guest for today is Nkateko Mlambo, an AirBnB Hostpreneur. She is originally from Mamelodi, a marketing graduate and in her final year of BCom Law Degree.
She is also a property investor. She started her property investment journey in 2008 when she was in the mall with her mom and they saw a real estate agent in the mall. She bought a property for less than R500k and a real estate agent told her she doesn’t have to live in the property, she could get a tenant to pay the rent.
She went to CNA and bought a lease agreement. After the first month she received rental income from her tenant and decided she wants to get own property.
Bought the second property (3 bed, 2 bath) in the township in Mamelodi in 2016. It’s close to shopping centers and transport. The appreciation and the rental income of the second property were so much better than in town or suburbs.
When she was purchasing her second property she had issues with the bank, which questioned her affordability. So she had to do her own arbitration.
She realized that using her payslip to invest in property was going to be a problem for her. So she booked a property seminar to learn more about growing her property investing portfolio. She learned about property in a company name and in a trust. It became clear to her that if she was growing to grow in this space she needed a mentor and coach.
She learned about the rent to rent strategy; she rented a property and then rented it out on AirBnB. Started to search for properties in Pretoria East and looked for properties listed by the owners, sent an enquiry to the Landlord and spoke to him about subletting the property.
She made money within the first week of renting out the first property.
She then repeated the AirBnB strategy in Cape Town and rented out the property on AirBnB before they even concluded the rental agreement.
In this episode Nkateko explains how to make 2 to 3 times more income with AirBnB than with a buy to rent strategy.
This is episode another jam packed episode.
Click play on the audio to listen to this week's episode
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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