Real Estate Podcast for men and women of colour on the African Continent. Hosted by 2 South African women, Vangile Makwakwa & Dr Miranda Moloto.
Episode 107: How to build a property portfolio that replaces your income in less than 5 years
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.
Episode 106: How to make 2 to 3 times your rental income as an AirBnB Hostpreneur
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.
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Episode 105: How to own 6 properties in less than 12 months
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
New Year Episode: Setting property investment intentions and understanding your investor archetype
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
Episode 104: The Low Money or No Money Down strategy of Property Investing
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.
Episode 103: How to go from a negative cash flowing property to raising R9 million (US$571,000) for a property development
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.
I was extremely proud to be invited to contribute to Episode 76. This Podcast is presented by two truly inspiring ladies!! I was also pleased to be in the company of my friend Nigel Adriaanse of the Enterprise Development Property Fund (EDPF). Since my guest appearance, I have now really been enjoying the previous 75 Episodes and recommend that anyone in Real Estate (Investment or Development) should Subscribe and take a listen.
I would definitely recommend, highly informative and making the Property industry accessible. Thank you for the incredible work you do ladies.
Episode 82 is a must listen to, i will be packed on this one for days.
Learning A lot
Love this podcast! I learn something new from every episode! Loved the auction episode, definitely going to explore this way of getting property.