Episode 89: How to grow a property from scratch during the pandemic
In today’s podcast episode we sit down and chat with Thandeka Sibanyoni, who is originally from Carolina, South Africa.
Thandeka started her property investment journey during the pandemic - she listened to the Property Magicians Podcast and then started following some of the guests and started implementing what they were teaching.
She started looking for properties where she lived and focused on the location of the property, cash flow and affordability. When she went to the bank, she learned that she could qualify for a property worth R700,000 (US$46,023) so she focused on properties priced below.
She found a property valued at R600,000 (US$39,448) and converted that property into a multi-let, with 4 bachelor units. She got 100% funding for that and later found out from the bank that the property was actually worth R800,000, so she actually made R200,000 (US$13,149) when she bought the property.
A few months later, she went to Johannesburg, learned about the AirBnB strategy and started implementing that strategy - she rented a flat, furnished it and put it up on Airbnb and started cash flowing from day 1.
In this podcast, Thandeka shares with us how she was able to start on her real estate journey during a pandemic and keep growing her portfolio.
We hope you enjoy the podcast as much as we did.
Click play to listen to the podcast and leave us a comment in the comments section below.
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