In honour of Africa Day, in this week's podcast episode we talk to Papa Boachie-Yiadom who was born in Ghana but grew up in South Africa.
He studied Actuarial Science at the University of Pretoria and soon realized that there were other avenues to focus on if you wanted to create wealth.
He took a job in the home loans division of a bank so he could learn about the home loans process.
He bought his first house 5 years ago and soon thereafter, attended a real estate seminar run by Nqabenhle (episode 28) who was looking for investors for 40 units in Johannesburg CBD.
He bought 4 out of the 40 units and paid R700, 000 (US$38,000) in total, using bank funds. He still owns those units and rents them out for R20, 000 (US$1100) a month.
In the podcast, he told us that this kind of return on investment is a once in a lifetime opportunity.
A few years later he bought a 2 bedroom unit in the CBD for R270, 000 (US$14,575) and rented it out for R6,500 (US$351).
He then built a relationship with a real estate agency so he could start getting access to deals before they were even advertised on the market.
Click play below to learn how Papa built that relationship and how he was able to build his portfolio to 9 properties in 5 years.
Let us know your thoughts in the comments section below.
Side bar: in this podcast Vangile promised to share one of her friend's travel podcast. The podcast is called: Black Woman Travel Podcast. You can check the interview she did on the podcast here: https://blackwomentravel.ashalbh.com/chapter-1-vangile-of-wealthy-money/
Episode 61: How to do deal analysis and mitigate risk in real estate
Episode 60: Using village land to solve the problems of poverty
Episode 59: Using other people’s money to grow to 70 properties
Episode 58: Why you need a Quantity Surveyor on your next property investment project
Episode 57: From Fitness Trainer to negotiating a R1 billion (US$61 million) property deal
Episode 56: Profiting from rent to rent on the African continent
Episode 55: From a mud house to building dream houses
Episode 54: Overcoming addiction to own 35 properties
Episode 53: Why it is important to get your mindset right before you start off on your investment journey
Episode 52: How the #PropertyMagicians podcast has impacted listeners and guests
Episode 51: How to make a profit in 6 months flipping (buy, renovate and sell) houses using other people's money
Episode 50: Lessons learned from having your properties being auctioned and rebuilding a bigger portfolio during a recession
Episode 49: How to make money flipping properties and invest in property with your taxes
Episode 48: A high return property investment opportunity for the busy investor
Episode 47: Real Estate investing trends in Suriname
Episode 46: From growing up in a tin house to a 380 unit development by the age of 27
Episode 45: Exploring high cashflowing properties in the Cape Town ekasi market
Episode 44: From cleaner to building an international company
Episode 43: An inspirational 8 year journey to developing 14 units
Episode 42: Lessons learned from making R1 Million by 21
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