In this week’s podcast episode we interview Gavin Mkhabela who grew up in the North West with his great grandmother. In 1992 he went to live with his mom in Alexandra, Johannesburg. He then studied accounting at Wits Tech but didn’t finish because he went to work.
He worked for the bank in the homeloans department and moved into the property finance department, where he worked as an analyst to the deal maker. In the podcast he shares how his not good enough wound stopped him from taking up a mentoring opportunity to learn more about putting together property deals.
Even though he was working at the bank, he didn’t think of property investing. He was more concerned with a roof over his head and having his own bedroom.
He got into debt in his first year of working at the bank in 2004 after signing a lease agreement for someone he was dating; the lease agreement was double his mortgage. This debt then snowballed, he got into more debt to keep afloat, and he soon found himself in even more debt.
By 2011 he was so stressed and panicked about debt that he ended up resigning from his job. He started a cleaning business and decided to make cleaning sexy and brought in a business partner. That business eventually fell apart and found himself over indebted and blacklisted.
The only job he could get was to be a financial advisor, which was commission only. He started advising people on property. He met a client who was struggling financially, and had a house and 2 back rooms and a garage. He then advised this client to rent out the rooms and the garage and he started making R13,000 a month.
Word then spread and he got more clients and he found himself teaching people about property and soon changed his life and his finances.
Tune in to learn more.
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 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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