In episode 14, we interview Ndumiso Nkonzo, an accountant who sees himself as a farmer at heart. He invests in multilets ekasi (the township).
At the time of recording the podcast, he had a total of 16 property units.
Nkonzo bought his first 2 properties by accident in Midrand; because of his two friends.
His property journey started when he changed jobs and his new boss introduced him to reading and recommended "The millionaire next door" and "Cashflow quadrant."
Those books changed his life and turned him into an investor.
He focuses his attention on buying township properties and then converting them into multilets with backrooms.
His strategy for multilets is unique because he chooses to buy land with one house and then build more properties on there.
It has proven to be a very profitable strategy - one of his properties has a gross income of R13, 000 (US$873) and a net income of R7, 000 (US$470).
Nkonzo has also found a really simple and unique way to make sure that his properties always have tenants.
To learn more listen to the podcast.
You can contact and connect with Nkonzo here:
Ekasi Properties Facebook group: https://www.facebook.com/groups/358215991601671/
Personal Facebook profile: https://www.facebook.com/ndumiso.nkonzo
Episode 115: Unconventional Real Estate
Episode 114: Creative ways to fund property developments without bank funding
Bonus Episode: Raising over R2.6 million in the stokvel and changing our name
Episode 113: How to work with a quantity surveyor to increase your profits and decrease expenses
Episode 112: Growing a construction company by 400% in 10 years
Episode 111: Investing in property straight out of college & owning a 9 unit property at the age of 28
Bonus Episode: Raising R268,974/US$17,935 in 7 days to invest in property
Episode 110: Buying 3 positive cash flowing multi-lets during a pandemic
Episode 109: The magic is in your mess
Episode 108: From rural Limpopo to building a multi million rand property portfolio
Episode 107: How to build a property portfolio that replaces your income in less than 5 years
Episode 106: How to make 2 to 3 times your rental income as an AirBnB Hostpreneur
Episode 105: How to own 6 properties in less than 12 months
New Year Episode: Setting property investment intentions and understanding your investor archetype
Episode 104: The Low Money or No Money Down strategy of Property Investing
Episode 103: How to go from a negative cash flowing property to raising R9 million (US$571,000) for a property development
Bonus Episode: Making 15% Return on Investment in 3 - 6 months
Episode 102: How to make money from sourcing real estate deals
Episode 101: How to raise R331,000/ US$21,000 in 5 weeks in a property stokvel/fund
Episode 100: Celebrating 100 episodes and using creativity to build a profitable property business
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