Property Magicians Podcast
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.

Episode 86: How to improve your credit score & grow your portfolio with bank money

Episode 86: How to improve your credit score & grow your portfolio with bank money

July 20, 2021

In this week's podcast episode we talk to Lungisani Xhakaza, a real estate investor, accountant and Founder and Director of LZX Investments (PTY) LTD, a Property Investment Company. 

 

Lungisani is originally from Kwazulu Natal but now lives in Johannesburg. He came into property because he wanted to invest in a tangible asset that appreciates in the long term.

 

He bought his first property in 2002; the bank gave him 100% funding and also paid for his fees.

 

After that first purchase, agents would come to him with more properties and the bank would fund him in full.

 

In this episode Lungisani shares with us how to improve our credit scores so the banks feel comfortable giving us money:

 

  1. Use your credit card but put money into it.
  2. Have an overdraft facility but don’t stay in overdraft.
  3. Take calls from the bank if you owe them money. Remember banks don’t want to repossess property.

 

He also shares why he prefers to buy for both cash flow and appreciation and some mistakes he made on his property investment journey.

 

This is another incredible episode.

 

Click play below to learn more.

 

Episode 85: How to accelerate the growth of your portfolio by buying properties cash

Episode 85: How to accelerate the growth of your portfolio by buying properties cash

July 13, 2021

In this week's podcast episode we talk to Vumile Msweli, a career coach who helps people connect where they are with where they want to go.

 

Vumile is a property investor who comes from a family of real estate investors - her grandparents were in property so she knew about property from a very young age.

 

She got into banking to get exposure to different clients and preferential interest rates (which are available to bank employees); she also chose to rent a back room for R1500 instead of renting an apartment.

 

She shares how she used her first paycheck to buy her first property in Germiston and made a rental income of R5500 from that, which covered her rental expense.

 

Shortly thereafter, she bought properties in Maboneng and Pretoria and also moved to a new company that enabled her to make 2 purchases at staff rates.

 

In this podcast Vumile shares how travelling and living in different countries changed her view of property investing and why she now buys properties cash and how that can actually lead to accelerated portfolio growth in the long run.

 

She also imparts some incredible advice on delayed gratification, life and careers for property investors.

 

This is another incredible episode.

 

Click play below to learn more.

Episode 84: How to invest for appreciation and cashflow

Episode 84: How to invest for appreciation and cashflow

July 6, 2021

In this week's podcast episode we talk to Peter Mohlala, an Optometrist for 15 years, managing three practices (2015 till Present).

 

Peter has been a property investor (Residential Rental Properties) since 2010 and currently works as a Real Estate Agent (since Jan 2017).

 

He also provides training and guidance on property investing and also runs seminars and provides mentorship to people who are interested in property investing.

 

Peter got into Property after reading “Rich Dad, Poor Dad” and started investing in property to experiment with Robert Kiyosaki’s philosophy and see if it works.

 

In this episode, he shares why he believes property investment is the best option for retirement and why he invests for both appreciation and cash flow.

 

He also shares why he focuses on residential property and invests in 2 bedroom properties, how he was able to start investing in property as an entrepreneur and why he prefers working with bank consultants over a mortgage originator.

 

We hope you enjoy this episode as much as we did.

 

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

Episode 83: Building a profitable portfolio of 12 short term rentals at the age of 23

Episode 83: Building a profitable portfolio of 12 short term rentals at the age of 23

June 29, 2021

In this week's episode, Dr Miranda sat down with 23- year- old Thomas Mathew of Nomadify to speak about short term rentals. 

 

Since age nine, Thomas has been playing with code - an engineer at heart with an aggressive pivot towards property investing.

He explains why he adopted his current real estate strategy, why he has invested in higher-end suburbs and why he has stayed with his strategy despite having been hit hard over the lockdown in 2020. 

 

Thomas’s journey was smoothed out by partnering with an older partner that was ahead of him in both earning and property investing in general. 

 

He was so deliberate about his journey, and placed an offer on an apartment within 10-months of having his first job, at the age of 20! 

 

Starting early before he could accumulate debt of non-cash flowing items. 

 

He is currently on property number 12. 

 

He and his partner run their Airbnb properties personally and have lived in several of their units, which has sharpened how they approach their Airbnb hosting experience. 

 

He is ready to add affordable housing and the development of apartments into his strategy. 

 

This episode is made for the millennials and new graduates. 

 

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

Bonus Episode: How to own property in South Africa without Bank Funding

Bonus Episode: How to own property in South Africa without Bank Funding

June 22, 2021

In this bonus episode, we bring you DrMiranda of PropDocMom, co-host of the Property Magicians podcast. 

 

She’s a property mentor for beginners and in this bonus episode, she was a guest on the Unpack podcast with Lerato Bambo.

 

In this podcast, she shares the many ways to finance a property in South Africa. We’re all familiar with the conventional banks and their mortgage models but what happens when you can’t get funding from the bank?

 

Don’t let your journey of investing get throttled by the lack of funds. 

 

Don’t get stuck on owning 100% of each property. 

 

Don’t get discouraged by the belief that you can only begin investing if you have thousands of Rands.

 

This is another great podcast episode.

 

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

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