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 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
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
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