Episode 121: Buying your first property at 21

In this episode we talk to Thembisa Winston Kunene, a 25 year old entrepreneur by profession and a selfless philanthropist by passion. He considers himself an old soul.

 

He was born in Swaziland, but his dad lived in South Africa, which is how he ended up moving to South Africa at the age of 5. He went to an international school and was exposed to different races and different cultures.

 

He built relationships at his school that allowed him to work as a receptionist for one his friend’s parent’s recruitment company, which eventually landed him a job as a PA at Pam Golding, where he was mentored about the real estate industry.

 

He bought his first property from sellers that were leaving South Africa, who were listing the sale as urgent. The property was R450,000 and he got it for R270,000 and used his savings to pay for the transfer costs.

 

He currently has a tenant that pays him R4,500 a month for that property. He had already mentally started preparing to get a property and started building his credit score before he got his first property.

 

He got his second property (2 bedroom) through an installment of sale agreement in a golf estate and it was a divorce sale. The couple had decided to move out and wanted the sale to happen urgently.

 

He got an attorney to register his name against the title deed and to pay off the profit in 5 years. He aimed to pay off the property in 3 years and make a R500,000 profit when he resells the property.

After getting the second property, he negotiated with his dad to use his land to build property and get into short term rentals.

Tune in!