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 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 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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