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Real Estate Podcast for women and men of color on the African continent. Hosted by 2 South African women.
Episodes
Tuesday Sep 08, 2020
Tuesday Sep 08, 2020
In this week's episode we talk to Leon Marincowitz, one of the partners at Quick Buy Invest, a premier flipping company that specializes in buying, fixing and flipping houses.
Leon started his property journey in 2015 when he realized that real wealth was in the title deed.
In 2016 he bought his first 2 houses at a Sheriff's auction. He sold the first property at break even and made a minimal profit.
He renovated the second property and sold it to a family at a profit.
He then started focusing on finding deals and making agreements with sellers in distress so he could contract their properties before they went on auction.
He also moved into wholesaling, which is a different real estate strategy where you help a seller solve a problem with regards to their property, sign a contract with a seller and then sell the contract to the buyer and make a profit on the margin.
In this episode, Leon shares two strategies on how to make a good profit in real estate in a space of 6 months without holding onto property and dealing with tenants every month.
He also shares some of the ways in which he and his partner have built and structured their flipping and wholesaling company in order to minimize risk and generate a steady monthly cashflow.
This is definitely one of our most informative and mind-blowing episodes.
Click play and share your thoughts with us in the comments section below.
Tuesday Sep 01, 2020
Tuesday Sep 01, 2020
In this week's podcast episode, we talk to Dunisani Manganyi, IT expert, full-time real estate investor and mentor about his journey as a real estate investor.
Dunisani bought his first property at the age of 23; by the time he was 27 he owned 7 properties.
He soon started investing in land and flipping some of that land (selling it at a higher price than he bought it).
This was before the 2008 recession, so the market was good, no one had told him about market cycles, so he ended up with a portfolio that was 60% land.
When the market crash did come, the South African market felt its effects in 2012 and he'd already quit his job and was a full-time real estate investor.
He couldn't sell or develop the land because the value started to drop but he still owed the banks so his expenses were outpacing income, he started using his rental income to pay for his life expenses and soon defaulted on mortgages.
He lost 80% of his real estate portfolio and in the podcast, he shares the trauma of watching his properties being auctioned off.
He then shares how he worked with his wife, Thabile, using her credit record to rebuild their real estate investment portfolio during the recession and how they ended up refinancing their residential house to build a property that cash flows at R26,000 a month.
Dunisani now mentors people on property through, Riches and Beyond, an educational property company.
This is yet another inspiring episode that teaches us that losing everything, can actually be the start of something greater.
Click play to listen to this week's episode and share your thoughts with us in the comments section below.
Tuesday Aug 25, 2020
Tuesday Aug 25, 2020
In this week's podcast episode, we talk to Doris Mpela, a full time property investor and mentor.
Doris is an accountant by profession, she got into property because she wanted to retire by the age of 40 and she could see from her work as an accountant that her most successful clients were the ones who owned property.
She bought her first property 15 years ago to live in and then later moved into a different property and rented out the first property.
A few years later she bought her third property and got tenants for that property, she also signed up for real estate courses and mentoring and started her journey in earnest in 2017.
In 2017, she retired from her job and bought 7 properties in 1 year in 2018.
She also started flipping properties to supplement her rental income and make money to buy more properties cash or to pay down a bigger deposit on new properties she was buying.
In this episode, she shares her strategy around flipping, including how she once sold a property in 2 days and buys and sells properties before she even has a title deed in hand!!!
Doris also teaches us about Section 12J, which allows you to use your taxes to buy property, without ever putting any money down or taking out money if you are in South Africa.
This is another mind blowing episode.
Click play to listen to this week's episode and share your thoughts with us in the comments section below.
Tuesday Aug 18, 2020
Tuesday Aug 18, 2020
In this week's podcast, we invited Nqabenhle Manana (episode 28) back onto the show to talk to us about a property fund he is starting - Masibambisane Property Fund 2.
He already has a fund - Masibambisane Property Fund 1, that he started 5 years ago and that has matured and is now paying dividends.
He started Masibambisane Property Fund 1 when he found himself having to forego a few property deals because of lack of funding.
This happened 3 times, the fourth time, he found a deal for 48 properties, and could only afford 20 of those properties, he asked the seller to give him 3 months to raise the funds, so he could buy all 48 properties.
He raised R1.7 million from retired professionals (mainly women) in Kwazulu Natal, South Africa and the fund was born. The fund has since grown to R3.4 million over the last 5 years and has matured.
At the end of 2019, the fund had a return on investment of 83%.
So, if you'd invested R100,000 (US$5,900) with his fund 5 years ago, then your investment would be worth R180,000 (US$10,545) today and you would be getting dividends annually, starting at the end of this year.
Now, Nqabenhle has decided to launch Masibambisane Property Fund 2, with the aim of buying buildings in the inner city in Johannesburg, South Africa.
The aim of this fund is to raise R20 million from investors and to bring in R60 million in debt, in order to grow faster and buy more buildings.
The fund is currently open to investors and closes on December 31, 2020.
The minimum buy-in is R100,000, but individuals who have less money can still invest in the fund, so don't disqualify yourself just yet, you can contact Nqabenhle to find out how you can get involved.
The fund is open to everyone, including those in the diaspora. This is an incredible opportunity for busy investors and we are super excited about this podcast episode and the fund.
Click play to listen to this week's episode and share your thoughts with us in the comments section below.
Monday Aug 10, 2020
Monday Aug 10, 2020
In this week's episode, we head off to South America and talk to Omayra Bouterse, about real estate trends in Suriname.
Omayra runs the only Black women owned real estate agency in Suriname; she and her partners opened their offices 4 years ago.
She also hosted the first real estate seminar in Suriname and is teaching (at a university) the first real estate course in the country and she took time out to talk to us about:
- The challenges of the real estate industry in Suriname
- What it's like to operate in a market that has little or no regulation and the work she is doing with the government to regulate the industry
- How political events impact the currency in Suriname and how that has affected the real estate market
- How land ownership laws affect foreigners looking to buy land in the country
- The discovery of oil in Suriname and the opportunities that, that is expected to create in the long run
This is another inspirational episode, because the real estate industry in Suriname is very unique and like nothing we could ever imagine, but Omayra is one of the people shaping and building the industry.
Click play to listen to this week's episode and share your thoughts with us in the comments section below.
Tuesday Aug 04, 2020
Tuesday Aug 04, 2020
In this week's podcast we talk to Lebogang Lebepe, a 27 year old real estate investor and developer. He holds 4 finance qualifications and is a business accountant by profession.
Lebogang has an inspirational story - he was born in a skwatta camp (informal settlement), or as he says - a tin house - and was the first in his family to graduate from high school and go to university and get a degree.
He started off his career as a business accountant where he met real estate and development clients as well as professionals.
He soon noticed that most professionals, who had the funds, didn't have the time to invest in real estate so he started a property fund to help them get started as property investors.
He bought land in an affluent area and built 18 2-bedroom units. It took him 6 months to fill the units with tenants. After reviewing the company's real estate strategy, they realized the development didn't fit the strategy and they sold the units for R12 million (US$696,000) and made a 300% profit.
His company changed strategies and started focusing on developments in the township, renting to young professionals who are looking for affordable, secure and comfortable housing.
In the last 2 years, they've done several developments and are currently working on 6 developments, one of which is in Roodepoort and comprises of 380 units and will commence construction in November 2020.
This is another incredible and inspiring guest and this episode covers a lot of ground in a short space of time.
Click play to listen to this week's episode and share your thoughts with us in the comments section below.
Sunday Jul 26, 2020
Sunday Jul 26, 2020
In this week's episode, we interview Ludwe Mageleni, about the Cape Town ekasi market, his journey into real estate and his role in Property Made Easy, a company that he and Brian Sango (episode 44) co-founded.
They started the company to bring professionalism into the real estate space ekasi and to help young Black men and women start investing in property in the township.
To paraphrase Ludwe: "If you're making R25,000 (US$1,455) a month and the banks are willing to give you R700,000 (US$41,000) to buy property, why not buy more than one property?"
Ludwe explained to us that bachelor units in the township in Cape Town can cost as little as R190,000 (US$11,062) and rent for R3,500 (US$204) per month.
The rent more than covers the mortgage and instead of getting one property, young people in their 20s easily end up with several positive cash flowing properties and start building a property portfolio in a location that they understand.
They can then use that cashflow to go buy properties in more expensive neighborhoods at a later date if they want.
This was another eye-opening episode because we learned new things about the Cape Town ekasi market that we didn't know.
Click play to listen to this week's episode and share your thoughts with us in the comments section below.
Monday Jul 20, 2020
Monday Jul 20, 2020
In episode 44, we talk to Brian Sango, aka The Property Guy, whose story reads like Paolo Coelho's "The Alchemist", so be prepared to believe in dreams.
Brian is originally from Zimbabwe, he moved to Cape Town in his teens after having a dream about Table Mountain and the city.
He told his mom about the dream and she suggested he move to Cape Town. So he did. He didn't know anyone in the city and started off as a parking attendant and cleaner at a Woolworths restaurant in Durbanville.
One day, one of the waiters at the restaurant fell sick and he was asked to help serve customers and was soon promoted to a permanent watering position.
During his tenure as a waiter, he met a couple that always wanted to be served by him and they'd always try to invite him to their offices. Little did he know that that couple owned the largest Remax franchise in the Western Cape; they eventually hired him as a PA and gave him a rent free apartment in Vredehoek.
Brian stayed at Remax from 2010 to 2013 where he learned a lot about the real estate business, especially advertising and marketing.
In 2012, he became a licensed real estate professional, left Remax in 2013 and joined a family business selling real estate.
A few years later, when the company relocated to Johannesburg, he was invited to join another property company, where he was tasked with selling property online in Johannesburg and Pretoria, from Cape Town.
Over a period of 5 years, he was able to sell 540 flats (apartments) online without ever having set foot in the apartments or neighborhoods where the apartments were located.
His success in this business, led him to launch his own company, Property Made Easy, which works with clients all over the world and helps investors invest in the metros and township properties in South Africa.
If you feel stuck and are doubting yourself and your resources, then this is another inspirational episode for you.
Click play to listen to this week's episode and share your thoughts with us in the comments section below.
Monday Jul 13, 2020
Monday Jul 13, 2020
In this week's episode we talk to Khosi Makolota, from Senaoane, Soweto and she shares her inspiring 8 year journey on building 14 units from scratch.
Khosi's grandmother owns property in Soweto, which got her interested in property.
She shares how she grew up believing townhouses were for White people, but her grandmother explained to her that she could build townhouses in Soweto.
So in 2012 when her grandmother's friend decided to sell some of his land (3 stands), her grandma offered to help her buy the land.
She spent years trying to get funding to develop the stands, the banks refused to lend her money and she was met with many challenges, one of them being that she'd get quotations for labor and materials for the development, raise the funds with her grandmother, and then go back to the contractors and be told that prices had gone up.
She even considered selling her primary home to get the money she needed to start developing the land, but after finding out that she'd only get R320,000 (US$18,387) from the sale, she decided against it.
She ended up quitting her job as a travel agent and selling one of the stands to raise the money for the project, but it was still not enough to get her started. She started attending real estate seminars and eventually connected with Henry Chitsulo, who then connected her with Victor at uMastandi (episode 4), which is how she got funding in February, 2019.
Getting funding definitely sped up the process but even that had it's own hiccups - in the process of construction, her contractor fell ill and passed away and she had to manage the contractor's team and eventually hire a new contractor.
Construction on the property was completed in January 2020 and by February 2020, Khosi already had 9 tenants in her 14 unit property.
Apartments rent from R2,500 (US$144) to R3,500 (US$201) per month.
Click play to listen to this week's episode and share your thoughts with us in the comments section below.
Monday Jul 06, 2020
Monday Jul 06, 2020
In this week's episode we brought back , from episode 29, to talk about his real estate journey.
In episode 29, Obakeng challenged us to think big with our goals and shared his property accounting knowledge with us.
In this episode he gets vulnerable and shares how he made his first million at 21 years old (in the 80s in South Africa!) by selling 140 properties in a new development in one year.
He was an intern at an accounting firm and already a millionaire, but because of the political situation in the country, he had no one to advise him. He went on to invest in other businesses and made even more money and started sabotaging his success.
This week Obakeng takes us through his money journey and shares some of the mistakes he made with the way he thought about money, felt about money and behaved with money and how he was able to self correct when he realized that money was not the problem and that the problem was him and his subconscious beliefs.
Obakeng is currently working on a development for 170 units, which is right in line with his belief that success requires one to think big.
This is truly one of the most inspirational podcasts we've recorded.
Click play to listen to this week's episode and share your thoughts with us in the comments section below.