Property Magicians Podcast

In this week's episode we share our stories and what it's been like to run a business where we loan people money and they refuse to pay us. We talk a lot about getting out of debt, but we rarely talk about the people that are owed money and how it affects their lives and businesses. We hope that this podcast leads to a deeper conversation about debt and the importance of paying the people you owe.

In this week's episode we talk to Khumo Nawa from Botswana. Khumo has been in the banking sector for 15 years and decided at a young age that she wanted to be out of the corporate world by the time she was 35, but she started working and forgot the dream. In 2016, she found herself feeling unfulfilled and drifting into depression and ended up leaving her job prematurely in 2017. Luckily, she acquired her first property in 2011, a 2 bedroom house on a piece of land, when she had read Rich Dad, Poor Dad, in the same year (2011) she decided to get a 500,000 Pula loan to build a 3 bedroom house for herself to live in. She rented out the 2 bedroom to a tenant. When she left her job in 2017, she didn't have enough money to pay the loan because her side hustle and tenant income didn't cover her expenses. She ended up in court with the bank, in February 2019, the court granted her a settlement agreement.  At this point she realized that she needed to plan her finances differently, in March 2019, she decided to go back into the corporate world. She was goal driven and she knew why she was working. She decided she was going back to the working world for 2.5 years. Her first goal was to get rid of all her bad debt, she had a million Pula in mortgage and personal loans. She changed her lifestyle drastically, she went back to the village, because it was much cheaper there so she could direct her money to achieve her goals. She was able to pay off 340,000 Pula in debt in 17 months.  After settling her debt, she ended up with 17,000 Pula free every month. She looked at the village and decided to use a 2,000 sqm plot for 85,000 Pula in the village, which she had acquired in 2013 and decided to build 1 room houses for people in the village. She built 1 block of rooms (each block had 3 rooms) for 75,000 Pula close to a technical college for students and had a waiting list for students for accommodation and rented out the unit for 1,800 Pula per unit. She had determined she needed 16,000 Pula per month to be financially free. She had an opportunity to get a loan, because she named the project her financial security project, to a level where this project can take care of her. She decided that if she used debt, she would want it to be short debt and she could be in and out quickly  She also started a blog and started showing everyone how she was able to use their salary to create financial freedom. She started showing people how they could use their salary differently and attracted a lot of people to the blog and she started coaching and selling products on her blog. She decided that 50% of all her income would go towards her real estate and building her portfolio. At the same time a mall was being built near her property; people started looking for accommodation and she built studio apartments where each block is rented out for 4,500 Pula. She is currently looking for 540,000 Pula for 12 months to build 3 blocks of studio apartments. She is not looking for equity partners, she is looking for people who want a better return on investment than their bank or financial institution can provide them. This is a really incredible episode.

In this week's episode we talk to Lester Philander, a property investor and the founder of Corp Cafe based in Muizenberg, South Africa.   He started his property journey by making an offer on a property in Mitchell's Plain, but ended up quitting his job to start his business after getting the initial approval but not the final approval, so the process fell through. A few years later, he and his wife bought their first property to live in Muizenberg and later bought a second property with 3 units on the premises to help family members by renting it out to them. They are now planning to rent that property out to other tenants.   During Covid, he announced that a lot of coffee shops were closing down. So he developed a concept called “rent my restaurant.”   He invested R80,000 into a restaurant, signed a lease and confirmed a lease and then rented out the property to a restaurant owner. The idea was that as a restaurant owner, you would then lease the restaurant with everything in it and you just focus on managing the restaurant and paying them a set fee of R10,000 a month.   The result was great, but he realized that he wanted to make more than R10,000 a month and that Cape Town had more coffee shops per capita than New York City, which means that for a coffee shop to succeed they need to offer a bit more than other coffee shops on the market.   They then started a franchise model (Corp Cafe) where their franchisees can become a hands off restaurant owner (they manage the coffee shops for you), where they buy the franchise for R450,000 and in return Corp Cafe will manage the restaurant and pay the franchisee R10,000 a month (a 24% yield per annum) and reinvest the extra R20,000 profit and leave it in the business bank account for the franchisee to use at a later date.   They currently have 10 stores open and they plan to set up two stores every single month from now on.   This is a really incredible episode.

In this week's podcast we talk to Nthabiseng Sejake, a property investor and municipal employee from Soweto who works in utility and property management. Her mom is an entrepreneur who owned a shebeen (tavern), which is now a bottle store; her mom also owns 4 properties.   She bought her first property to get away from her mom and have space. She bought her first property (a 2-bedroom house) in Protea Glen after being referred by a client. She got funding from Mastandi to get the property and to get building funds.   She converted the unit into a 14-unit development where every unit rents out for R3,000 a month. In 2015, she and her partner decided to buy another property - she quit her job and invested her pension money to build a 10-unit development, where she rents out each unit for R9,000 to University of Johannesburg students. All her units have washing machines, DSTV, and Wi-Fi. To get accreditation, she had to provide the students with transportation.   She is working on her third property, another student accommodation (a 3-bedroom house), where she will be housing 6 students at first, thereafter she plans to build the development into a development that houses 35 students. She works with an attorney and a digital marketing property company, Bathamaga Property, that helps her find tenants.    This is another incredible episode.

In this week's podcast we talk to Tim Akinnusi, the CEO of MortgageMarket.co.za. Tim is originally from Nigeria but has resided in South Africa for 30 years. He is the former Managing Executive of ABSA Home Loans, and prior to that he was the Executive Head of Sales and Client Value Management at Nedbank Home Loans.   Tim is a seasoned property finance expert with over 15 years' experience in the financial sector. Tim started MortgageMarket in 2020 to help ordinary South Africans get the best loan to value.   MortgageMarket is the first online marketplace for home loans to give customers direct access to the Top 7 banks in SA and has done more than 2000 homeloans; they pay customers R5,000 cash back just for getting their home loan through the platform.    MortgageMarket will also help you find a property, understand if the property is priced correctly so you are not over-paying for the property. They also help you get the best deal for your mortgage by being able to compare deals across banks and negotiate better.   MortgageMarket also works with property developers who are buying land in good areas to partner with them to help them make sure they are packaging the properties in a way that allows the banks to see value in what they are offering.   MortgageMarket is also expanding into insurance and bridging finance.    In this podcast episode Tim also shares how to increase your credit score without a credit card or taking on more debt. The higher your credit score, the more like you are to qualify for a home loan.   He lost out on buying his first home for R345,000 off plan because he had too much debt (an expensive car), so he ended up buying his first home for R600,000 and ended up paying transfer costs.   He has started to build a strong property portfolio because he can see properties before they hit the market, from working with property developers.

In this episode- PropDocMom took the commonly asked questions by mentees and some general questions off her Facebook page.   Questions that may seem obvious to a savvy investor or questions you've always wondered about- however never had the time or opportunity to have addressed.   Here's some mentor tips about property management matters, property financing and property structuring.... and more   Take a listen... Leave us your comments and more questions for Propdocmom.   See you on the next episode!

In this week's podcast we talk to Tinyiko Motileni, who has 3 businesses, one of which is a property business. She also has a Master's in Business Leadership.   She didn't even know there was anything like real estate. She just wanted to have a side hustle, make money and buy property. Her main aim with property was to be free and to have passive income.   She bought her first house at 24, she bought her house to get passive income by building a property in the back. Unfortunately, her mom passed on in the same year; at work they asked her to move to a different city (East London), so she ended up renting the whole property and she charged her tenant enough money to pay her mortgage because she didn't know enough about property investing.   When she moved to East London, she decided to buy a house, using the rental budget her employer was giving her. She ended up buying her property with her partner at that time and when they broke up, she ended up losing the house.   When she moved back home, she started researching township properties and he asked her to buy his house; she took all her savings and bought the house and built 5 rooms and asked her brother to help her tenant them.   Her father had left, so she decided to utilize the land and started farming; she realized that her mother had built rooms on the farm, so she started to rent out those rooms.   Through trial and error, she was able to learn that her cash crop is spinach.   She bought her properties cash and is only left with 2 years to complete payment for one of the properties.   In this podcast, Tinyiko also explains how she is building her business with her ancestral gifts and how everything she is doing is guided and for the next generation.   This is another incredible podcast.

In this week's podcast we talk to Zoliswa (Zoe) Singcu, a mother of two and world traveler who is originally from Port Elizabeth (PE), South Africa and is currently working in Saudi Arabia as a Medical Technologist. She is a world traveler. She bought her first property for her family in Kimberly; she and her husband struggled to get that property. She spent a lot of her time watching programs that have to do with houses and decorations. When she was working the night shift at her job at the hospital, she would look at properties internationally.   She wasn't even thinking of property investment at that time, but she loved the architecture and the designs. One time, she was viewing properties in PE, and she realized she could afford to buy one of her dream properties. This is how she bought her second property.   At the time, she just wanted to own a property in that estate; there was already a tenant in the property, and she took over the tenant. The property was positive cash flowing from day 1.   She bought her third property in Pretoria when she was getting divorced and some of her friends suggested she leave Kimberly. She bought the house without seeing it, moved to that house and rented out the house in Kimberly, which she has since turned into an AirBnB.   Shortly after buying the third property, she bought 2 units from a developer and a year later she bought another 2 units from the same developer and rented out those properties to tenants and started breaking even.   After buying the 4 properties, she didn't buy anything for two years, she approached her brother to partner with her to buy land in PE, but he changed his mind because he was scared of losing his money, she went ahead with the sale. Her plan with the land is to sub-divide the land and build 2 houses and resell them.   She then bought a new unit (new development) in Pretoria and turned it into an AirBnB unit, which is doing very well, and that income covers the expenses for some of the properties that are under performing. Zoliswa buys property for different reasons - to make sure that her kids have properties and don't have to start from zero. She wants to have a lot of properties so that she doesn't have to struggle later in her life.

In this week's episode of the Property Magicians Podcast, we talk to Palesa Lengolo, a finance professional with over ten years of experience in investments, banking and accounting.   She's also an author of a book called ‘Stokvels - How they can make your money work for you' and told us that the stokvel industry is a R50 billion (US$3 billion) in South Africa.   She grew up seeing her mom being part of stokvels. She became interested in stokvels when she started working for a pension fund company and learned about investing; she realized that the way the pension funds were working was very similar to stokvels.    The first stokvel she was part of was non-monetary - for funerals, where the members would provide food for funerals, eventually the stokvel evolved and members started sending money.   Her mom then joined a stokvel that evolved into a lending stokvel, where they loaned money to teachers and postman for 30%.    Her work with pension funds led her to connecting with other stokvels at the Stokvel Academy and she asked them if they were interested in investing.   She then volunteered to work with the Stokvel Academy and to teach them about investing and creating financial freedom. She then started doing research on stokvels and property stokvels instantly popped up.   She shares that there are 4 ways of making money in property stokvels: Trust - setting up a trust and investing in assets Fund property deals or be an equity partner in property deals Form a Pty and buy properties under a Pty and the members are shareholders under a Pty Bond - where the stokvel members are paying each other's bonds     In this podcast Palesa also talks to us about the importance of trusts and structuring within stokvels and explains that as a group you need to have a clear goal for your stokvel.

In this week's episode of the Property Magicians Podcast, we talk to Thapelo Mokau, a flight engineer and property investor.   He bought his first property in 2019 when he qualified as a flight engineer. He was planning to stay at the property but he attended a real estate seminar where he was told there were a few strategies he could use.   He started with sourcing, where he looked for property for investors. He started by engaging with other sourcing agents and started building a relationship with various people in the real estate industry.   He bought a property in Boksburg that was a buy-to-let, he got tenants to pay money into his bank account and then used that track record with the banks to show that he was receiving money from tenants and also receiving his salary.   His second property was a multi-let in Kempton Park - he explained his requirements to a real estate agent and everything went well. He is planning to use the cash flow from the property to build and extend the property so he only uses bank money to buy the property. He explained that his strategy is to grow his asset base and use different avenues to grow his portfolio. This is another educational podcast.    Tune in!

In this week's Property Magicians Podcast, we bring you a bonus episode from a class we had for our stokvel members where Leroy taught us about running the numbers and analyzing a deal so we could understand what makes a property profitable and if it's ever a good idea to make a loss in cash flow on an investment. In this class, we learned that there are three stages when it comes to running the numbers: Stage 1: Capital Cost - Transfer Attorney fees - Transfer Duty (if your property is over a million rand) - Bond Attorney fee - Deposit - Auctioneer costs Stage 2: Refurbishment/ Holding Cost - Rate & Taxes - Electricity/water - Bond/interest - Refurbishment - Levies - Insurance Stage 3: Letting/Resell Cost - Bond/Interest -Insurance - Rates & taxes - Levies - Maintenance - Management fee - SELL- EA Commission Leroy also taught us some fundamental Calculations: ● How to calculate gross yield and why this figure is important ● How to calculate cash flow so we can know if a property is a good investment ● How to calculate capital cost so we could budget and know how much of our own money we are investing in a deal ● How to calculate ROI (Return on Investment) This is a very valuable episode, so we recommend you get your pen and paper out and take notes. And don't forget to join the Property Magicians Stokvel because we're building an incredible property portfolio and providing real estate education.    

In this podcast episode, we talk to Lebo Ramafoko who shares with us why it's important to understand the politics of financial institutions and how even as recently as 1998- black South Africans had not been exposed to financial institutions and had limited options to get mortgages or even negotiate terms on their loans.    The psychology of the “big house” for a black child. How the big house emanates from lack, from wanting to show up in a particular way, be applauded by our community and friends. We buy big houses for psychological and deep-rooted reasons too - hers were personal reasons after losing both parents within months of each other.    Becoming a landlord for Lebo was circumstantial, she owned over 8 or 9 houses before she actually viewed her house as an investment and she became an accidental landlord.   She sold her “big house” and a smaller apartment to buy an investment apartment. When COVID hit - she took advantage of the low prices and bought a 1-bed apartment. But the long-term rental strategy showed its shortfalls. Long-term tenants offered low rentals. COVID and rental offers were so disappointingly low.    She moved to Cape Town for a new job and made use of her time while in Joburg to scout for reasonable hotel-quality accessories and furnishings. It took two weeks to furnish the apartment. She started renting out the apartment in mid-2021 and she's had 100% occupancy for over 14 months. And finds it highly profitable - it pays for itself, she makes a profit so much that she's gotten a new apartment in Cape Town!   This now is her investing strategy- at the time of the recording- she was ready to buy a third apartment for short-term renting.    This is another incredible podcast.

In this week's podcast we talk to Susan Granger who defines herself as a creator. She explains that all her adventures have to do with what she feels inside her. She creates because she wants to see something growing. She is the owner of Nubian Q Urban Farm where she grows her own food organically and teaches others to set up their own sustainable food gardens. She also has a seed bank that she has started creating and is currently sitting at 400 species of seeds. Her food garden is in an estate - she uses small amounts of land to build sustainable food. She bought a house after her husband's passing - she realized she needed to survive, so she reached out to Dr Miranda for property mentorship. She hired two lawyers just to be safe, an architect and a project manager and started the purchase of a property in Yeoville. She bought a single 5 bedroom house, a kitchen, one bathroom and one toilet. The house also a had a patio and other outside dwellings including a salon. Next to the salon there were other 2 rooms with a bathroom. The house had not been occupied for 4 years and was run down with dog poo and rodents in the house. They converted the 5 bedroom property into 9 self contained units - each unit has a bathroom and a kitchenette and is open plan. Every unit is different and they decided to keep the aesthetic of the unit but they had to replace the plumbing and rewire the whole house. The property cost R820,000 and R380,000 to renovate and is still under renovation (renovation started March 2022). Her focus when she was renovating the property was to create a brand and build a house with dignity so she bought instant water heaters and provided free wifi in the property. When they were done renovating the house, they received several offers to purchase the house, but she chose to keep the house and rent it out. The lowest monthly rental is R3,000 and she is increasing it to R3,700. This is another incredible podcast. Book that inspired Sue: She doesn't read but she is obsessed with tiny houses on YouTube Contact: Instagram: https://www.instagram.com/nubianqurbanpatch/ Instagram: https://www.instagram.com/pivot.propinvestments/ 

In this week's episode we share our next Property Magicians Stokvel deal. This is the fifth deal that we will be investing in as a stokvel. Here's a quick summary of the minutes and what was discussed at the meeting: The meeting starts off with Vangile greeting everyone and giving us updates on the stokvel. Vangile than hands off to Miranda so she can brief us with Deal 2's payout that is happening in Aug 2022 and how everything will work. Miranda then takes us to Deal 5. Miranda explains why the first investor didn't work. The reason was that she couldn't get a hold of the seller because the person was currently out of the country. Meaning she couldn't produce an OTP. But Miranda did let the investor know that when all is sorted, they can come back and propose their deal to the stokvel. Miranda then explains the NEW deal 5 that has been put in place. The deal is with Mzwiwethu, the same developer we invested in with deal 3. We are partnered with Sakhisizwe Funders Stokvel meaning this investment is for 12 months (July 2022-July 2023). The return on investment is 17% per annum, to protect our investment we have been allocated with Erwe at site to sell should the deal not go as promised. Miranda then shows us pictures of phase 2 and 3 of the Mzwiwethu project and how far they are. She then tries to share a video with us but due to technical difficulties it was sent to the WhatsApp group, and she explains what the video is showing. The Amount that the stokvel currently has in both the Stokfella acc and FNB acc totals to R380,075 (US$24,035). So, we have until 24 June, 2022 to top up investment going towards Mzwiwethu contract 1. Then we have until 24 July to collect the second Mzwiwethu contract. The aim is to raise R3.4 million between the two stokvels (Property Magicians & Sakhisizwe). Miranda starts taking us through the payment options available to everyone nationwide. For more details visit our website. Q and A. Vangile takes us through the spreadsheet process of money allocation and how it works and how the members can assist by ensuring we have put the correct figures. You can learn more about the Stokvel and how to join at these links: - https://www.wealthy-money.com/stokvel - https://www.wealthy-money.com/stokvel-faqs

In this episode, a serial entrepreneur and creative Tsotetsi of the Moleleki-Group shares his journey of being in sales, an account manager, a stylist and a brand manager for various corporations. He loves design from clothes, furniture AND beautiful spaces. This is what landed him with architects and developers of “high-end” properties in the North of Johannesburg.  He had very little knowledge of real estate when he did his first deal - a “flip” that yielded R100 000 (US$ 6 370). He bought a piece of land in a high-end Estate from a “distressed owner”, the land already had municipal services and was ready to build. He then sold off the land at a profit and never looked back. Tsotetsi considers himself a differentiated “realtor” in that he does not wait to find one seller at a time. He often finds himself with a stock of newly built high-end properties or stock from the banks and Attorneys that are selling off “distressed properties”. He “solves” the many property problems that both investors, developers and funders find themselves in. In this podcast, he shares the various ways of “sourcing” properties to sell, or match buyers to sellers! He also shares- his story of almost going bankrupt THREE times in this business and how he was able to change all this. Here is an inspired story of a self-taught property manager, property investor and realtor.   CONTACT TSOTETSI: Website: www.molelekigroup.co.za WhatsApp: 0788675766

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!

In this week's episode, we talk to Isaac Masilela, the founder of Mziwethu. He was born on a farm in Mpumalanga, where his father was rendering his services for a place to stay. Watching his parents build houses with mud and farming to sell food, shaped him to be the entrepreneur he is today.   When he went to Secondary School, he went to live with his uncle who had structured houses; he decided then that he would build his parents a house. He became interested in housing and building houses.   In 1999, he had an opportunity to rent a 3 bedroom apartment to rent with friends, because he couldn't afford to pay for the house and his new car. This taught him that he could collaborate with people.    He bought his house in 2000, a few years after working for 3 years and took an R120,000 bond and invited his friends to stay with him and charged them rent so he ended up staying for free.   This sparked his interest in property and he decided to buy another property, which he rented out to someone. By 2004 he had 6 properties in his own name.   He then decided to buy a half complete house. He completed it and flipped it. He had no experience in building a house and had to register as a builder. He made a profit of about R300,000 on that house in 2 months. This motivated him to keep going in building houses and selling them.   In 2005, some guys approached him to start building some properties together and do property development and they ended up building 20 upmarket houses in Witbank. By the time they completed the development, the recession hit in 2008, so they ended up with R30 million in properties.   Because it was a recession, people were not qualifying for home loans, which encouraged him to pivot to lower-income housing and social housing, because people were qualifying for lower-priced properties.   His company, Mziwethu, focuses on the Gap Market, where people get grants from the government and housing subsidies from their employers. Fast forward to now where his company builds hundreds of houses per annum for the low-income market.   This is how Mziwethu ended up partnering with Sakhisizwe and Property Magicians Stokvel, which have invested a total of R3 million into their project in Secunda so far; we are now discussing how to work with Isaac to help his company generate R1 billion in revenue per month.   This is another incredible episode.   Tune in!

In this week's podcast episode we have Malebogo Zilberman. Malebogo is a 39-year-old Fellow Chartered Accountant registered as a Fellow with the Association of Chartered Certified Accountants (FCCA) and a Fellow Certified Professional Accountant registered with the Botswana Institute of Chartered Accountants.   Her first property deal was a deal she entered into to help her mom develop back rooms.    She understudied her mum's development journey and saw how she used cash to develop 7 backroom houses and used them as a source of income. She saw how her mom started the first 3 rooms and then kept adding other rooms as and when she had saved from the existing rooms.   So she decided to do the same as an investor. She bought the first plot about 10 years ago from her young brother; she waited until she had enough savings to develop it. She eventually developed this property into a 2 bedroom house that currently rents for US$270/ month.   She and her husband bought a property in town and decided to turn it into a Domestic Guesthouse to earn an income. The house features 5 en-suite bedrooms, capable of giving a monthly income of between $2,000 to $4,000 Monthly, depending on how busy it is.   Lebo is currently working on a new project - developing and building 10 units.   This is another incredible episode.   Tune in!

In this week's episode of the Property Magicians Podcast, we talk to Xolile Rikhotso Mashaba. Xolile is a mother of 3 and a wife. She studied Electrical Engineering at college and is currently studying HR Management at a college. She is a qualified underground Electrician by profession and a property investor.    Xoli wasn't thinking about real estate investing when she started her real estate journey. She and her husband were looking for a place to live and her father in law sold them a 2 bedroom property he was building in the township in Emalahleni (Witbank). After a while they decided to move to the suburbs and converted the property into a 10 unit multi-let and rented each of the units for R1,500 (US$93) per month. They are now in the process of renovating that property and increasing the rent to R2,500 (US$155) a month.   After buying the house in the suburbs, they bought another house using a rent to buy strategy, they paid off the house in 5 years. They rented out the main house to Xoli's brothers at market price and the outside apartment to a tenant.   Xoli started following real estate investors online and started learning more about building a real estate portfolio, she then bought 2 pieces of land and another house.   They renovated the house into 7 studio units, each with its own separate entrance and they are in the process of building 20 apartments on one piece of land and 5 two-bedroom units on the other piece of land.   This is another incredible episode.   Tune in!

In this week's episode of the Property Magicians Podcast, we talk to Funke Alao again. We first interviewed Funke in episode 87, where she shared about the real estate market in Nigeria. Funke is a realtor in Nigeria and does business in Ghana, Rwanda and soon Kenya.    In this episode she is sharing about the real estate market in Rwanda where her company has apartments available for sale.    She shares that she fell in love with Rwanda because it is so beautiful and so organized, especially when it comes to structure and the vision for the country. The Rwandan government is also keen on the quality of the buildings, they do a lot of inspection and quality control so investing in real estate in the country is a good decision.   Funke explains that owning real estate in Rwanda is attractive because the government of Rwanda is also investing heavily in tourism, which makes up 46% of GDP; this is also increasing the number of people going to the country.    More tourists also prefer short term stays like AirBnB instead of hotels, which opens up short term rental opportunities.   Funke started off her business in Rwanda focused on residential real estate but she soon realized that because of the ease of doing business in Rwanda, commercial lettings were also in demand.    Rwanda is ranked second best for ease of doing business in Africa and because of that, the demand for commercial property will increase because more companies are establishing businesses in the country.   In this episode, Funke also shares how to register a company in Rwanda and how to buy property in Rwanda, because her company does have apartments available for sale.

In this week's episode of the Property Magicians Podcast, the hosts, Vangile and Dr. Miranda, of the show do a show talking about unconventional ways to make money in real estate. We cover 7 unconventional ways to make money and most of it doesn't require lots of money:   1. Grazing Land- leased If you have land, you can lease that land to farmers who need land for livestock. We talk about the model that Livestock Wealth employs in KwaZulu Natal, where they lease land for their farmers.   2. Subletting land for agricultural use  We talk about a model we saw being utilized in Sri Lanka where farmland was subleased to grow ginger and turmeric for a food brand and how that contract led to a R250,000 (US$17,000) revenue per annum for half an acre of land. 3.  Cemetery We discussed a Facebook post we saw from a status update from one of our previous podcast guests where he shared about a friend of his who made money by buying land and getting it rezoned to a cemetery. He sold the land to the municipality for 10 times what he'd bought it for and he also makes money from managing the cemetery. 4.  Rental Arbitrage Renting a place and then subletting it, just Like you do on Airbnb. 5. Self-Storage Leasing our storage units to people - you spend a small amount of money on electricity, sewerage and water. Your main expense is security. We talk about how to make money by storing Take A Lot packages in South Africa. 6. Unconventional office space Office space isn't just big buildings in cities owned by large corporations. You can also have various types of co-working spaces or turn part of your house into a conference or event space and make an extra stream of income that way.  We share how to get started with that. 7. Parking Not all land has to be used for building properties, some land can be used for parking, which can be very lucrative in crowded cities.    This is another jam-packed episode.    Tune in!

In this week's episode of the Property Magicians Podcast, we talk to Matimba Masinga, a Soweto-born entrepreneur, father and husband. He started off his journey at a young age - working in his father's business. His father was a demolisher (used to break down buildings). In 1984, his father opened the first Black owned furniture company - he recycled materials he got from demolishing buildings to build furniture. He was drawn to real estate because of the work his father did - he would see his dad demolishing beautiful houses because developers wanted to build town houses or office parks, which fascinated him and when his father bought the Saturday Star, newspaper, he would look at the property section and tell himself he wanted one of those. He promised himself that when he started working he'd go into property and build township rooms. When he started working he bought his first property for himself to live in; in 2010 he got a lumpsum somewhere and decided to buy a delapidated flat (apartment) at auction. He then renovated and partitioned the flat and got tenants. In 2012 he bought a property using his credit card. The first year and a half nothing happened with the property - the property was sitting there and he was paying off the credit card debt. He got two of his friends to partner with him on the property, but the relationship didn't go well and he ended up losing a friend and a business partner. He then decided to build multiple cottages on the property and asked his aunt and brother, who were in the same business as his father, were able to supply him with second hand building materials for the entire project and he was able to pay them off little by little. This was the beginning of his property development journey. He then decided to look for like-minded people and joined the South African Property Investors Network where he met other investors. They pulled their resources and started buying and investing in properties as a collective. They started flipping properties together, which worked very well; he would then take the profits and put them back into whatever development he was working on. This is another gem packed episode. Tune in!

In this week's episode, we share a recording of the webinar we did for the stokvel members updating them on deal number 5 and the name change of the stokvel.   We started off by explaining the Mission and the Vision of the stokvel and that the name of the stokvel has officially changed from Wealthy Ones Stokvel to Property Magicians Stokvel (PMS). In the webinar, we explain why we had to change the name of the stokvel.   We also give an update on Deal 1 which happened in Oct 2021 and shared the challenges that Villa Lisa was experiencing like theft of tools and material, security being injured on-site as well as rain continuing to cause additional delays. But that does stop our investors from receiving their payout in Oct 2022.    We looked at the total amount of money raised (R2.6 million/ US$177,771) in the stokvel since its inception, we also took investors through deal 5 and explained the due diligence process so members understand what's required for a property to be worth investing in.   Property Investor Credentials Management Accounts Asset to secure the loan Finance application for a new building Timelines of securing finance from an institution (Bank) Dependencies   We also explain the concept of a Hard Money Loan which means a loan that is backed by a “hard” asset, such as real estate and explain the pros and cons of this money lending process.

In this week's podcast episode we talk to Malepeli Malataliana, a Candidate Quantity Surveyor (QS). She was born and raised in Lesotho and moved to South Africa in 2012 to study at the University of Pretoria. She is also an MBA graduate and has a financial literacy interest and an interest in getting people to become financial adults.   She explains that a quantity surveyor is a construction accountant, they tell you how much the construction is going to cost, how much you're going to make per year from the project, they are also the link between the developer and the contractor and they are the contract manager.   A quantity surveyor manages the contract and makes sure that the contract is understood by both the contractor and the developer.   We've had a QS on the show before but this episode is completely different to that episode. Malepeli answered the following questions for us: - How did you decide to study Quantity Surveying? - What is a quantity surveyor and what does a Quantity Surveyor do? - Why should ordinary real estate investors have building projects for small projects? - How do you negotiate and navigate building projects when you have a friendship with the contractor? - What is a JBCC (Joint Building Contract)? - Is there a difference between a resident or commercial quantity surveyor? - Can beginner investors team up with a QS to help them build their tribe in the industry? - Are Quantity Surveyors taught how to mediate and negotiate for the clients at school or on the job? This is another eye-opening episode and we recommend you grab a pen and paper so you can make notes as you listen. Click play on the audio below to listen to this week's episode.

In this week's Property Magicians Podcast, we talk to Brinny Mphogo who was born in Thembisa and raised in Blairegowrie. In 2012 he started working with his dad in the construction company he founded - ABV Construction.   They focus on residential, retail and commercial buildings and he has been able to grow the business by 300-400% since taking over from his dad.   When he started in the business, all he knew was that he knew how to sell. He focused on getting clients because he knew that his dad knew how to service them.   A lot of the clients gave him a lot of opportunities because they knew his dad. The first project they did was a wall in Randburg and it ended up collapsing on the client's Alpha Romeo. He learned a lot from that experience and started working with his dad on the site to learn about construction so he could learn how long things take and how to get things done well.   They have since become known in the business for being time conscious contractors.   There is a body that regulates contractors, where contractors are graded based on what they can handle.   He explains that when working with contractors, you need to have a good team in place: hier a quantity surveyor who will monitor the contract. The QS will also work closely with the architect. You should also look for a completion certificate, which tells you the number of jobs a contractor has finished.   Brinny is also a real estate investor - he owns land and property in different provinces in South Africa and they all have different uses.   This is another eye opening episode.  Tune in and let us know your comments.

In this week's Property Magicians Podcast, we talk to Anaiyah Robinson, a 28-year-old mom and full-time real estate investor residing in Atlanta, GA, USA.   Anaiyah comes from an entrepreneurial family and started investing in real estate straight out of college, after being invited to a free real estate seminar.   From the seminar, she was able to learn how to use real estate for retirement and to pay for her kids' education. The first house she bought was an investment property to fix and flip in 2017 - she sent out mail, via direct mail, to out of state owners and she ended up buying the house under contract.   She paid for the house through a hard money lender but had some hiccups - she ended up changing contractors 5 times but she ended up making a U$15,000 profit.   After that project, she was supposed to go to South Africa but she didn't want the money to sit in the bank, so she loaned that money out and ended up doubling the money and making an extra US$20,000 from loaning that money out.   After that, she moved into the rental property space and bought her first rental property in 2018. She got a loan for first-time homeowners and bought a single-family home and converted it into a duplex. She also ended up getting a single-family unit for her and her family.   At the end of 2021, Anaiyah ended up getting a 9 unit multi-let for US$590,000. The bank financed the property for US$438,000, so she ended up selling her duplex and used the money she loaned and got an extra loan to make up the US$182,000.   She is currently renovating the multi-let, they plan to get every unit done within 4 weeks. They will also turn one of the units into an Airbnb unit.   This is another eye-opening episode.  Tune in and let us know your comments.   Click play on the audio below to listen to this week's episode.

In this week's on the Property Magicians Podcast, we share a bonus episode where we talk about the Wealthy One's Property Stokvel and how we raised another R268,974/US$17,935 in 7 days so we could invest in our third deal in Secunda, Mpumalanga.   At the beginning of February 2022, we invested R568,150/US$37,882 in a deal in Boksburg, Johannesburg.   This time we are loaning money to a developer who is looking for R3 million/ US$200,000 to build affordable houses to first-time homebuyers in Mpumalanga, South Africa. He has funds from the bank but has to put down a downpayment.    We have partnered with Sakhisizwe Stokvel and together we have raised R2 million/ US$133,351 for the developer.   In this podcast, we share more about the deal and how you can get involved in the stokvel and grow your investment portfolio with us.   Tune In

In this week's podcast episode we interview Eddy Mokobodi who is married to Emily Mokobodi. He and his wife are the owners of a solar energy company and they also invest together.   Eddy always thought he'd be a medical doctor, but one day he picked up a pamphlet at the Wits open day and it spoke about construction management so he signed up for construction management and fell in love with the building part of property.   When he started dating Emily, she mentioned that she may end up in property and he realized she may be the woman he would marry. During lockdown 2020, they got a mentor and decided to look for properties that could be converted into multi-lets.   Their coach helped them structure viewings and understand how to read lightstone reports; they viewed 28 places, sent out 12 offers and ended up buying two properties at the same time (these were their first properties) and got 100% finance.   They renovated the property, and because Eddy comes from a construction background, they had access to construction companies so the process wasn't as difficult. By March 2021, their units were fully occupied.   After that they took a breather and focused on their respective properties. Later in 2021 they purchased another multi-let and they had to get pre-approval for the property. They got approval from the bank in 3 or 4 days for the next property, which they've just taken possession of.   Tune in to learn more.

In this week's podcast episode we interview Gavin Mkhabela who grew up in the North West with his great grandmother. In 1992 he went to live with his mom in Alexandra, Johannesburg. He then studied accounting at Wits Tech but didn't finish because he went to work.   He worked for the bank in the homeloans department and moved into the property finance department, where he worked as an analyst to the deal maker. In the podcast he shares how his not good enough wound stopped him from taking up a mentoring opportunity to learn more about putting together property deals.   Even though he was working at the bank, he didn't think of property investing. He was more concerned with a roof over his head and having his own bedroom.    He got into debt in his first year of working at the bank in 2004 after signing a lease agreement for someone he was dating; the lease agreement was double his mortgage. This debt then snowballed, he got into more debt to keep afloat, and he soon found himself in even more debt.   By 2011 he was so stressed and panicked about debt that he ended up resigning from his job. He started a cleaning business and decided to make cleaning sexy and brought in a business partner. That business eventually fell apart and found himself over indebted and blacklisted.   The only job he could get was to be a financial advisor, which was commission only.  He started advising people on property. He met a client who was struggling financially, and had a house and 2 back rooms and a garage. He then advised this client to rent out the rooms and the garage and he started making R13,000 a month.    Word then spread and he got more clients and he found himself teaching people about property and soon changed his life and his finances.   Tune in to learn more.

In this week's podcast, we interview Daniel Matsapola, a space scientist who works at the Space Agency. Daniel is originally from Limpopo and is married with 6 children (all girls).    He started his real estate investing journey after reading “What the rich teach their children that the poor don't” by Robert Kiyosaki and he went ahead and purchased his first property on the eve of his first trip to Australia.   He got married and divorced in the same year and in the same year he also lost his parents which led to a paradigm shift for him and he realized he didn't know what he was doing in property. He found a mentor online, Dr Hannes Dreyer, and attended his free seminars, bought his training CDs and the relationship then developed into a mentorship.   In the mentorship he realized that his first property wasn't profitable, so he sold his property and made R150,000 (US$10,000) in profit. He then used that money to buy another course from his mentor.   By the 5th year of working, he had bought 4 properties in his name. In 2005, he bought a 5 year mentorship and an opportunity to learn how to turn R1,000 into R10 million. His mentor turned his R1,000 into R10 million in 2.5 years.   In 2008, he left Cape Town to live in Pretoria, and lived for free because his tenants were paying his rent.   In this episode Daniel teaches us how to consume in order to produce and how to do estate planning.   We actually cannot explain in depth what this podcast episode is about and how life changing it is, you just have to listen for yourself.   Tune In!

In this week's Property Magicians Podcast episode, we talk to Hloni Lebelo. Hloni was born in Thembisa as the eldest of 3 kids, and is a father of 4 and a husband. He works as a team leader at one of the major banks and is also an entrepreneur and an investor.   He bought his first house in Pretoria when his mom fell ill and she was given a package;  he convinced her to get into property to create a passive income.   They bought land with the aim of building a bottle store but they couldn't get a liquor license so they ended up leasing the land to a mechanic to use as his place of work, so his mom still makes money.   In 2015 he was made a permanent employee but he had bad debt - he was driving a nice sports car, was living beyond his means and had more month than money.   He gave himself 2 years to pay off his bad debt, but everything he was getting was going straight into debt and he knew he can't have money on him that's not allocated for anything, he came up with a strategy to get out of debt and become financially free. In the podcast he shares his debt repayment strategy.   He sold the car and downgraded to a smaller car and in 2017 he bought his first house in Thembisa from a distressed seller. The house was a 2 bed house with a garage and 4 tenants in the backyard. He converted the house into a 3 bedroom house and rented the house out for R4500 after extending it.   He later learned that the owner had renovated the face of the house but structurally the house had many issues and was a money pit. He credits the loss he made on that house with why he stayed in real estate investing.   He eventually sold the house and got a nice profit from the house because of all the work he'd put into fixing it. He then bought a nice house in Kempton Park which had staff quarters and a double garage, which he partitioned; he fixed up the staff quarters and ended up with 6 tenants.   He then bought another house in Kempton Park and his parents asked to move into the house and they gave him their house in Thembisa.    He decided to try investing in Thembisa again - he decided to give people in Thembisa a lifestyle they could get in Midrand and converted the house into 7 units so every unit has its own kitchen and bathroom.   And because of his employee benefits at the bank, his mortgage was affordable and he was able to rent out the property at a lower price than usual, which has helped him keep his tenants longer.   In this podcast Hloni shares how his property income is now more than his salary and how he's changed the area he invests in but kept the strategy - he focused on buying properties that have more space and now has 4 properties and is working on his 5th property.   This is another incredible podcast.   Click play on the audio below to listen to this week's episode.  

Our guest for today is Nkateko Mlambo, an AirBnB Hostpreneur. She is originally from Mamelodi, a marketing graduate and in her final year of BCom Law Degree. She is also a property investor. She started her property investment journey in 2008 when she was in the mall with her mom and they saw a real estate agent in the mall. She bought a property for less than R500k and a real estate agent told her she doesn't have to live in the property, she could get a tenant to pay the rent. She went to CNA and bought a lease agreement. After the first month she received rental income from her tenant and decided she wants to get own property. Bought the second property (3 bed, 2 bath) in the township in Mamelodi in 2016. It's close to shopping centers and transport. The appreciation and the rental income of the second property were so much better than in town or suburbs. When she was purchasing her second property she had issues with the bank, which questioned her affordability. So she had to do her own arbitration. She realized that using her payslip to invest in property was going to be a problem for her. So she booked a property seminar to learn more about growing her property investing portfolio. She learned about property in a company name and in a trust. It became clear to her that if she was growing to grow in this space she needed a mentor and coach. She learned about the rent to rent strategy; she rented a property and then rented it out on AirBnB.  Started to search for properties in Pretoria East and looked for properties listed by the owners, sent an enquiry to the Landlord and spoke to him about subletting the property. She made money within the first week of renting out the first property. She then repeated the AirBnB strategy in Cape Town and rented out the property on AirBnB before they even concluded the rental agreement. In this episode Nkateko explains how to make 2 to 3 times more income with AirBnB than with a buy to rent strategy. This is episode another jam packed episode.   Click play on the audio to listen to this week's episode

In this week's #PropertyMagicians podcast episode we talk to Precious Dludlu who works as an external auditing. She grew up in Hammanskraal, the last born of 7 siblings, raised by a single mother who worked as a domestic worker. When her mother retired she moved to Bronkhosrtpruit, in grade 12, she decided she wanted to be an interior designer but her parents said no, so she ended up studying internal auditing. She noticed that having an education and a career were not the way to financial freedom. When she fell pregnant she started to change her mindset and decided to build wealth. In April 2020, a coach introduced her to a Bigger Pockets book She started listening to the Property Magicians Podcast and hired a property coach in October 2020 and put in her first OTP in January 2021, by December 2021 she had 6 new properties. First property made a profit of R1200 per month in Sunnyside. Second property she was able to convert a 1.5 bedroom unit to a 4 bedroom unit and was able to make a R4,000 a month, on a property that she bought for R300,000. The sellers offered her the third property since she had bought the second property. She got 90% of the money from the bank to finance her properties; her savings were able to cover the down payment for the first 3 properties. For the fourth and fifth properties she worked overtime to make the money and then used that extra money to pay the 10% deposit and lawyer fees. She also sold her house and moved to a rental place because the expenses of maintaining a house and paying rates was very expensive. She plans on doing an AirBnB strategy and going commercial and moving into the salon industry.   >>>Click play to listen in   Books that have inspired Precious:   “Who moved my cheese” by Spencer Johnson “The richest man in Babylon” by George Samuel Clason “Rental Property Investing” by Brandon Turner   Contact Precious Facebook: https://www.facebook.com/precious.dludlu.3  

In this week's podcast, we are sharing a replay of a live class where we did a property investing intention setting exercise for Property Magicians on our mailing list. From the minute we launched the Property Magicians Podcast, we focused on aligning and going within vs doing. We have always prioritized ease and listened to what our souls were asking us to do next. We work from a space of alignment vs doing We have seen the power of being intentional, which is why we decided to host an  intention setting exercise, to help you on your property investing journey. This class is about the energetics and emotional aspects of investing and money, so bring a pen and paper and let's clear blocks and connect with our deepest desires and listen to what our spirits want in terms of investing and then we will set the actions.   We also do a guided meditation to help you understand your investment archetype.   Here are some of the questions we asking in the meditation:   What are the 3 fears that are holding me back from becoming you? What is the one belief about investing that they needed to let go of in order to become a successful investor? What is the 1 belief they had to adopt about themselves in order to become a successful investor? What 3 money, investing and personal habits did they have to let go of in order to become  a successful investor? What 3 investing, money and personal habits did they have to adopt in order to become a successful investor? How did their relationship with themselves change? What did they need to believe about themselves and money in order to become a successful investor? What did they invest in? Can they share their investment journey?   PS: We launched a Property Stokvel and are currently fundraising for the next Property deal on January 15th, 2022.  The deal is a flip and also has a 15% ROI in 4 months. If this podcast is resonating with you and you want to be part of the stokvel, then we want to invite you to join the stokvel at this link: wealthy-money,com/stokvel  

In this week's podcast episode we talk to Obakeng Ben Malapile, a 25-year old a mathematics science graduate, real estate agent, YouTube vlogger and property investor. Obakeng started Forex trading while he studied, he was then influenced to invest in property  after reading Rich Dad, Poor Dad (Robert Kiyosaki). He started his YouTube vlogging while attending property master classes and working with a property mentor. He set his mind on finding out how to invest in property with little or no money down. He spent 3-years reading, listening to property podcasts and being mentored.  His first investment property was bought in 2020 cash, in partnership with an investor that found him via his YouTube channel. They bought an apartment and turned it into a 5-bed multi-let abode and it cash-flowed from day 1. The investor had been following him for a while on YouTube, and they decided to formalise their partnership- Obakeng had the time and knowledge of property, the investor had cash sitting in the bank. He went on to an Air BnB masterclass to learn about Short-Term Rentals. He now has an Air BnB mentor because his #2 and #3 properties are short term rentals that he does not even own. He used this investor, his credit card and his salary to furnish his two apartments. Obakeng also shares about the power of building a powerful credit score as a young person or even as a student. He has even drawn in his two younger siblings into his property business and has set them up with debit cards in order to begin building their credit portfolios. Obakeng is working on his third short term rental. He spends all his time on YouTube and property/ finacial podcasts. His favourite one being BiggerPockets. He intends extending his learning to the many property strategies and one day soon owning a guest house or Hotel. This episode is another incredible podcast episode.  

In this week's Property Magicians Podcast, we talk to Thabo Mongoato, a father of 3 boys and a full-time property developer and coach. Thabo started off as a pharmacist then did his MBA and worked in various fields, until 3 and a half years ago when he moved into property full time. In this podcast, he shares how property has always been his passion but he invested in property the “wrong way.” He bought his first property to have a roof over his head – the interest rates were at an all-time low and rent and mortgage were the same, so it made sense for him to buy. The second property was an investment decision that went wrong, he attended property training courses that taught him that the property he buys doesn't have to be cashflow positive and that property appreciates over time and he believed them, but then the property started draining his cashflow and he ended up selling it at a loss after 5 years. When he had to leave his last corporate job, he realized that needed to think about wealth in a different way. He started reading a lot and attending seminars and workshops and learned about property and the right way of doing things and started flipping and moved into development. After a few months of coaching, he attended an auction in Boksburg, bought a property, flipped it and made a profit of R151,000 in 5 months. He then bought a development, which was a half structure for 84 units, which looked straightforward on paper but ended up taking 3 years to develop because of Covid and rising prices. He is currently working on another development in Braamfontein in Johannesburg and has raised R9 million for that development.  This is another eye-opening podcast. Click play to listen and leave us a comment in the comments section below.

Today's episode is a bonus episode and is a replay of a webinar we did last week; talking about the next deal for the Wealthy Ones Property Stokvel. The first property investment, we made as a stokvel was very different - we made an investment into Bizzhouse's Villa Lisa property at 15% pa. The next deal we are currently fundraising for is a flip, where the investor is looking for money to renovate a not so nice property and sell it at a profit. We will loan them the money and make 15% ROI in 3 months. We have until January 6th, 2022 to raise the funds to invest in this deal. In this episode we covered the following: The vision of the Wealthy Ones Property Stokvel How the stokvel works and how to join on the Stokfella app How to join if you're based outside Southern Africa The deal we are going to invest in - how it works and what it is Answering investor questions, some of which you may also have Click play to this episode and please share it far and wide.   Watch the class on YouTube: https://youtu.be/NPdsYS4FbX8 Watch the video interview with the investor: https://youtu.be/zM_wHBbr1vs PS: If you are based in these 4 countries: South Africa, Namibia, Lesotho or Swaziland: Please go to Google Play or iTunes to download the Stokfella app and join as a member and then search for the Wealthy Ones Property Stokvel and request to join as a member. PPS: If you are based outside of these 4 countries, listen to the podcast to learn how to join.

In this week's Property Magicians episode we interview Alfred Kashindi, a 21-year-old property investor living with his grandmother in Soweto, South Africa. Alfred is originally from Congo, his mom and dad came to South Africa when he was 5, as a refugee. Alfred decided in grade 7 that he would never seek validation outside of himself and in grade 11, he started asking himself what he wanted to become and learned that he was not afraid to take risks. In 2018, he started writing a book on what he would do if he had US$1 million and wrote 100 things. He named 100 ways to make a million dollars and then decided he was going to do each of them and see which one of these things resonates with him. In 2019, he started realizing he was building a mindset and started reading "Rich Dad, Poor Dad" and focused on working on his money mindset.  He also attended a Robert Kiyosaki seminar, where he met Toni Ninkovic (episode 57), who later became his mentor. Toni then taught him how to source deals; he started negotiating deals for investors and making money that way.  His first deal was in Pretoria after speaking to 67 agents! He made R8,000 (US$496) in his first deal and then made R150,000 (US$9,293) in 4 months from sourcing. This is another incredible podcast episode.  Press play to listen to this episode and share it far and wide.   PS: We launched a Property Stokvel and are currently fundraising for the next Property deal on January 6th, 2022. The deal is a flip and also has a 15% ROI and will be hosting a webinar on December 2nd, 2021 at 6 PM South African Time/ 11 AM EST. If this podcast is resonating with you and you want to be part of the stokvel, then we want to invite you to join the stokvel at this link: wealthy-money,com/stokvel

In this week's podcast episode we share what we, the hosts of the Property Magicians Podcast have been up to - a few months ago, we launched The Wealthy Ones Property Stokvel and raised R331, 000/ US$21,000 in 5 weeks and then invested that money in property development for 15% per annum. A stokvel is a collective saving scheme or investment fund, where people get together and raise funds. In this podcast, we share the journey of starting the stokvel and raising the funds and how you can get involved and be part of the stokvel. In this podcast, we answer the following questions: - Why did we start the Wealthy Ones Property Stokvel? - What led us to a passive investment strategy? - What did it take to start the stokvel? - Why does it work and how do our strengths translate to the stokvel?  - What is the vision for the Wealthy Ones Property Stokvel? - How does it work for you?  - What happens if you default on your monthly payments?  - How do you get involved?  We are currently fundraising for the next Property deal on January 6th, 2021. The deal is a flip and also has a 15% ROI and will be hosting a webinar on December 2nd, 2021 at 6 PM South African Time/ 11 AM EST. If this podcast is resonating with you and you want to be part of the stokvel, then we want to invite you to join the stokvel at this link: wealthy-money.com/stokvel  

In this week's podcast, we talk to John T Griffith, who is the first person to ever tell us about Bigger Pockets and inspire us to get into property.  We share how the podcast started with a simple email from John, that led to him sharing his journey in the #MoneyMagic student group, which led to the Property Magicians Podcast. As part of the 100th episode, we thought it would be fun to have John come on the podcast to share his property investment and entrepreneurial journey. John is based in Boston, MA and defines himself as an entrepreneur. He runs several businesses; real estate is one of them, the other is a coaching and healing business. He got into property because he was tired of paying rent to his landlord who was chilling in Florida and collecting rent checks from his tenants. He also had a job where he was paying US$50k (R767,000) in taxes a year, which upset him because when he ran his own business he barely paid tax. So he started asking questions on how to pay less taxes and was told, by a friend, to get into property.  He bought his first property - 3 unit property (1 bedroom units)  - in 2017 for US$540,000 (R8.282 million) for no money down (he got a VA Loan).  The property was positive cash flowing from the start - he and his wife decided to house hack; they lived in one of the units and converted the other two units into 2-bedroom units, which allowed them to pay zero rent and still increase their rental income. When their daughter was born, they needed more space and decided to buy a new property. They used a home equity line of credit to borrow US$33k (R506k) in equity, which became the down payment for the next property. The second property had 2 units - 1 top and 1 bottom unit. They AirBnB'd the lower level for a year and have now gotten a day-care license and will use that unit to run a day-care centre with 6 kids at US$2000 (R30,673) per kid per month. This is another jam-packed episode. Click play to listen to episode 100 and leave us a comment in the comments section below. PS: To celebrate the 100th episode, we are running a series of live interviews with some guests that have been on the show on our Instagram profiles to hear how being on the podcast has influenced their journey as investors. The interviews are happening in the evenings this week; we will announce the guests and the time of the interview on the day of the interview. To get information on these follow us on Instagram: @VangileMakwakwa and @PropDocMom

In this week's podcast, we talk to Cindy Dibete, an empty nester, an accountant by profession and a board consultant. Cindy is the founder of Cosec 8, where she sets up statutory and advisory boards for medium-sized entities that want to break the glass ceiling into large businesses, mentor individuals who want to venture into Non-Executive Directorship and recruit non-executive board members. Cindy and her late husband bought their first property within days of them deciding they were tired of renting and wanted to own a property of their own. When their family started to grow, they sold the first property to raise the deposit to buy the second property. She and her husband then bought 2 properties (2 units) for their child, so that their children could have their own property when they graduated.  One day they went to an Airbnb to visit mom, and they were served "cremated" bacon so she told her husband to buy them a property so they can make their own bacon when they go visit her mom. They bought a 16 sleeper and that property served as a guest house for her mother. When her husband passed on and there were issues with some of the properties, Cindy decided property was not for her; she then sold properties (some at a loss) and bought shares on the stock market instead. In today's podcast, we talk about something different - what happens when you realize that property investing is not for you? How do you pivot and find other means of investing that work for you? Click play to listen to the episode and leave us a comment in the comment section below.

In this week's podcast, we talk to Percy Singo; originally from Venda, he studied Civil engineering at Vaal University of Technology and works for a municipality in Gauteng. Percy bought his first property because he was tired of renting. So in 2015, he bought a stand-alone house in a new development. Although he took out a loan for the property, he was able to save R15,000 (US$1,000) per month between 2015 and 2018 and used that money to pay off the mortgage on his property in 2018. When he started looking into real estate investing, he understood that he'd made a mistake with the property - the land on which the property was built was too small and he needed a bigger yard in order to build extra units and rent them out in the future. He bought his second property (a 2 bedroom stand-alone house) with a bank loan and used his savings for renovations and construction. That property now cashflows at R30k (US$2,000) per month.  He then saves the money that property makes and uses it to renovate the next property, as a result, Percy currently has 4 properties with minimal debt. In this podcast, Percy shares how he has been saving and using his own savings (cash) to build/ renovate the properties he purchases so he can grow his property portfolio. He understood early in his real estate journey that it wasn't enough for a property to pay for itself - it also needed to make a profit. We hope you enjoy today's podcast. Click play to listen to the episode and leave us a comment in the comments section below.

In this week's podcast episode we talk to Lebo Grass, an entrepreneur, real estate investor and property mentor. Lebogang studied communication science at Unisa (University of South Africa) and bought her first property at the age of 25, in Protea Glen, Soweto for residential purposes. One day a friend introduced her to the Steyn Family, which sells building supplies to hardware stores, advised her to build properties in her backyard so she could practice being a landlord and make extra income. Luckily, she had an entrepreneurial background and had seen her grandmother and her friends make money from back rooms, so he used that knowledge and experience to build and run her property. That extra income helped her pay off her property faster. Lebo currently has 5 properties that are registered under her name and bought through home loan financing. In this podcast, she shares various financing strategies that she uses to purchase property. She explains that she believes in trying various investment strategies and shares how she has now ventured into short term Rental on Airbnb and Booking.com The other strategies she wants to try out for next year are Property Wholesaling, Property Flipping and Aparthotel properties.  This is another jam-packed episode, get your pen and paper because you are in for a treat. Press play and leave us a comment in the comments section below.

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.

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.

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.

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.

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.

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.   Start your property investing journey in 10 easy steps! Get the Property Magicians Podcast 10 step guide to help you start investing in real estate so you can get your first, second or even third property. Go to this link to download the book: wealthy-money.com/propertyguide PPS: If you love the book, spread the word and share the link and if you really wanna thank us, please leave the Property Magicians Podcast a 5 star review on iTunes. 

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. 

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.