Property Magicians Podcast
Episode 96: How to build an international property portfolio as an African

Episode 96: How to build an international property portfolio as an African

October 12, 2021

In this week’s podcast, we chat to Tiritoga (Tiri) Gambe who lives in Zimbabwe and defines himself as a student of wealth. 

He learned about property and wealth creation from his dad who put the first home they had in a trust, so he has always been a property owner (since age 3).

Tiri is a wealth manager with Carrick wealth and he focuses on helping people figure out their behavioural biases so they can identify their own money behaviour and build wealth.

We brought Tiri onto the podcast because he helps people get properties in various countries like Europe (UK, France, Portugal), Mauritius and the Caribbean (Grenada and St Lucia) so they can diversify their property portfolio and get a second passport.

In this podcast we Tiri explains the advantages of currency arbitrage and how once you have a property in the UK, it's so much easier to use that property to get other properties internationally.

We also learned that anyone can own a property in the UK, depending on your source of income - if you have an income of 25,000 - 30,000 pounds (salary slip from anywhere in the world).

You can get a 50 - 65% mortgage from banks if you are buying a buy-to-let property. 

Tiri also answers some important questions with regards to building an international property portfolio:

  •  What are the ways of using the ailing South African Rand (ZAR) to buy properties beyond our borders?
  • Give us an example of what ZAR can buy in the UK
  • Tax implications of buying property in various parts of the world and how best to deal with those

This is another jam-packed episode, get your pen and paper because you are in for a treat.

Click play to listen to episode 96 and leave us a comment in the comments section below.

Episode 95: How Commercial Property Management is being changed by Covid

Episode 95: How Commercial Property Management is being changed by Covid

October 5, 2021

In this podcast episode, we talk to Nkuli Bogopa, the COO Broll Property Management, Africa’s leading real estate company. 

She is the immediate past Vice-President of the Black Business Council (BBC) and Founding member of the BBC’s Women’s Alliance and immediate past President South African Institute of Black Property Practitioners (SAIBPP).

She is also the Technical Committee Member for the Property Sector Charter Council and is responsible for the policy formulation and Property Sector Codes.

Nkuli started her journey in property management 20 years ago when she was interviewed by Drum Magazine for her work as an architect working on Melrose Arch; during the interview, she realized something was missing and that she wanted to know what happens to the people after they move into the building. 

Luckily, she had a mentor who worked in the property sector and he was able to guide her into corporate real estate management. 

In this podcast, Nkuli shares how we are affected by the walls around us, whether consciously or unconsciously, we are emotionally impacted by the spaces we occupy. 

She explains the importance of working with a property management company and why developers hire property management companies at the development stage and how that can help a developer secure bank funding.

We also learn how Covid has changed the funding process in the commercial property sector - banks are slower in terms of approvals so developments stall and it's created uncertainty in the industry and how property management companies have had to be agile and innovative in order to create new income streams.

In this podcast, Nkuli also shared the impact of the July riots in South Africa on the commercial property industry and how property management companies responded to the riots.

You’re in for an amazing podcast.

 

Click play to listen and leave us a comment in the comments section below.

Episode 94: Life- changing lessons for building a successful property investment portfolio

Episode 94: Life- changing lessons for building a successful property investment portfolio

September 28, 2021

In this podcast episode, we talk to Retha van Rooyen, entrepreneur and co-founder of M5 Property Addicts.

Retha bought her first property in 1998 as a protest to rentals. The property was a 2- bed townhouse that cost R127,000 (US$8600) at an interest rate of 24%, 5 years later she, sold the property for R550,000 (US$37,226) and used the profits from that sale to buy a new property and ended up living rent-free and started seeing the power of property.

At the time she was still employed (by Accenture); one day the company sent her to a mindset training which led to her launching 3 businesses in different industries. The businesses didn’t work out, but the training got her wondering about the career path and if that was for her.

One day someone at work told her about how they were buying a distressed property which led her on the path of property. 

She refinanced her house and bought 4 properties at once - it was a property with 4 properties that needed fixing.

In this podcast she takes us on the journey of starting out in property and the learnings from there:

  • how the builder said the properties would take 6 months to build but it actually took 2 years
  • the challenges of completing the property - with Documentation (outdated plans), ran out of money and change of legislation (Spluma) 
  • How her relationship with her best friend fell apart because bought in the wrong structure and didn't have clear job descriptions
  • The importance of communication when working with other people
  • bringing other people with you on the journey 

She also shares how she met Taurai Jack and how they ended up teaming up to start M5 Property Addicts and growing the business to where it is.

 

This is another jam-packed episode. 

Click play to listen to this episode and leave us a comment in the comments section.

Episode 93: How to ensure that the wealth you build through real estate is passed down from generation to generation

Episode 93: How to ensure that the wealth you build through real estate is passed down from generation to generation

September 21, 2021

In this week’s podcast, we talk to Shillyboy Mothiba, a Chartered Accountant by profession, he is co-founder of Intergen Private Wealth, a company that specialises in Trust and Estate planning for property investors.

Shillyboy started off building houses before finding himself in estate planning.

He explains why estate planning is so important and how we speak a lot about economic transformation but very few people understand the principles of economic transformation, which are to preserve and retain wealth. 

The misconception is that estate planning is about death, but it's about wealth transference, wealth is often transferred from generation to generation, not just created. 

In this episode we dig into:

  • The importance of property structuring and how that can help us optimise tax, pay the right tax and protect our wealth
  • How to make your descendants capital beneficiaries and how you can become an income beneficiary
  • What are the tax benefits of being a property investor are and how to tap into that
  • Why you need succession planning and how trusts save you the issue of estate duties

This is a valuable podcast for anyone learning how to build and preserve generational wealth.

Click play to listen to this episode and leave us a comment in the comments section below.

Episode 92: How to build 21 units in 2 years using other people‘s money

Episode 92: How to build 21 units in 2 years using other people‘s money

September 14, 2021

In today’s podcast episode, we talk to Moloko Makgele, founder of Zest Property Investment Development and a fund manager at Absa for the last 8 years.

Moloko has an Accounting degree, post-grad in risk Management and an MBA from Mancosa.

He has been an entrepreneur for years and has tried multiple businesses until he decided he needed something that can create a proper stable income, which is how he decided on property.

In 2018 he partnered with his cousins to buy their first investment property cash in Polokwane. The property was an old RDP house in a 400-meter yard. The plan was to build rooms on the property. 

They didn't do anything with the property for 10 months and he noticed that he was the one taking care of the property. He felt like he was the one pulling everyone so he offered to buy out his cousins for R120, 000. 

At about the same time, his father went on pension in early 2019, so he borrowed money from his father to convert the property (in the podcast he shares how to talk about money with your family) and demolished the actual house and built 10 units.

In the podcast, he shares the challenges of building a house in a separate province and how he had to change builders 3 times and how it took him 6 - 7 months to build the units, vs the 2 to 3 months he had planned.

He finished building the units in March 2020, for R800,000 (US$56,380) and they were fully occupied within a month, renting at R2300 (US$162) per unit.

He then bought a second property in Kempton Park, using money he had borrowed from friends after renegotiating the terms of the loan with his dad. 

He bought a house, rezoned the house and partitioned it into 11 one-bedroom units, added wifi to the development. 

This is such a great episode because we go in-depth on discussing money with family and friends.

Click play to listen to this episode and please share your feedback in the comments below.

Episode 91: How to turn a 6.5 hectare plot of land in Zimbabwe into a US$2.5 million (R36 million) business without taking on debt

Episode 91: How to turn a 6.5 hectare plot of land in Zimbabwe into a US$2.5 million (R36 million) business without taking on debt

September 7, 2021

In today’s podcast episode we talk to Wadzanai (Wadzi) Garwe, originally from Zimbabwe, she now lives in Rome, Italy; she is the founder of African Conversations with Self and an economist that works for the United Nations.

Wadzi is also a mother of 2 who takes us through her journey of building generational wealth for her children.

She starts off the podcast by explaining to us that in Zimbabwe, owning property is a right of passage to be considered an adult. 

So when she got married and had kids, it was only normal that she would get property, but she and her then-husband decided to buy land so they could build a house and also turn part of it into a business.

They decided from the beginning that they were going to do everything cash and not take on bank loans. 

 

They bought 6.5 hectares of land for US$13,000 (R186,462) from a British couple in the late 90s and negotiated a 12-month payment term.

 

As soon as they owned the land, they sectioned off parts of it for different uses. They started planting trees and other plants to make sure that the land was profitable from the very beginning. 

They also build a 1 bedroom cottage on the property (they would later use this space to host and cater for events), and started building their house cash. The house cost them US$250,0000 to build in total - walls, foundation and finishings.

Over time they planted more trees and added more income streams and turned the land into a business with multiple streams of income. That business is now registered in Wadzi’s children’s names and is now valued at US$2.5 million (R36 million).

Her children are not yet 30 and they are already dollar millionaires because of the decision she made to utilize land to create generational wealth.

In this podcast, Wadzi shares how she was able to do all this without taking on debt and gives us tips on how we can also do it moving forward.

 

Get your pen and paper and click play because you’re in for a treat.

 

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Episode 90: Formalizing & digitizing the back room market in South Africa

Episode 90: Formalizing & digitizing the back room market in South Africa

August 31, 2021

In today’s podcast episode, we talk to Teko Mothlabi, founder and CEO of Roomsta, a digital marketplace (web-based) that connects tenants to back room rentals.

 

Teko started this business after seeing that almost every house in the location or Black neighborhoods in South Africa had a back room and that most young people felt under pressure to move into the suburbs and pay higher rent the moment they started working.


He noticed that the market had changed - young people no longer see the suburbs as the only option and don’t mind renting back rooms as they move from different provinces for work purposes.

 

At the same time, most back rooms have changed and have become way nicer, which makes them more attractive.

 

This is where Roomsta comes in - no one caters to this market, no one connects the tenants and landlords and the landlords run their real estate business in an informal manner so they’re not able to qualify for funding and get money from the banks to buy more property.

 

In this episode, Teko shares with us how he was able to grow this business and some of the challenges of building this platform and getting people to use it.

 

Click to listen to the podcast and leave us a comment in the comments section below. 

Episode 89: How to grow a property from scratch during the pandemic

Episode 89: How to grow a property from scratch during the pandemic

August 24, 2021

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.

Episode 88: How home staging can help you sell/rent your property faster

Episode 88: How home staging can help you sell/rent your property faster

August 3, 2021

In this week’s episode, we talk to Athi Nenkosi (CEO) and Palesa Lehapa (MD) of Athi Nenkosi.

 

Athi and Palesa met when they were studying business and realized they had a passion for helping people style their homes as well as organize and declutter their homes.

 

They are home stagers who work with real estate agents and sellers in the property market to help them sell or rent out their properties quickly and easily. 

 

In today’s podcast they help us understand:

 

  • The difference then between an interior designer/ stylist/ interior engineer
  • What goes into staging a home and why you need the professionals to help you
  • Why home staging works and how it changes the value of a house
  • What the biggest challenge for the South African public has been, when it comes to using their services
  • How to find home stagers in your city and how they determine their prices

 

This was a really fun episode to record.

 

Listen on: 

 

iTunes Podbean Spotify

 

Click play to listen and leave us a comment in the comments section below.

 

Episode 87: Identifying real estate investment opportunities in Nigeria

Episode 87: Identifying real estate investment opportunities in Nigeria

July 27, 2021

In this week's podcast episode, we talk to Olufunke (Funke) Alao, a Realtor in Nigeria who helps clients from all over the world create wealth through real estate.

Funke is originally a trained lawyer based in Lagos Nigeria but found her calling in real estate; having grown up watching both her parents buy land, develop it and sell it.

 

In this episode Funke answers some of the following questions for us, about real estate investing in Nigeria:

🩸 What are some of the hurdles of real estate in Nigeria? 

 

🩸 What is the housing market/landscape in Nigeria? 

 

🩸 Tell us about the pricing of houses generally and the makeup of neighbourhoods? 

 

🩸 Financing property in Nigeria - how do people get access to money to invest? What financing models are there? 

 

🩸 Tax in Nigeria: what are the main property taxes that investors need to be aware of? Is there a difference in tax for locals and international investors? 

 

🩸 What are the land ownership laws in Nigeria? Can foreigners own 100% of the land?

 

🩸 What unique opportunities do you see in the Nigerian market right now and what return on investment can investors expect?

This is another eye-opening episode.

 

Click play below to learn more.

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