9 Positive cashflowing properties in 5 years
In honour of Africa Day, in this week's podcast episode we talk to Papa Boachie-Yiadom who was born in Ghana but grew up in South Africa.
He studied Actuarial Science at the University of Pretoria and soon realized that there were other avenues to focus on if you wanted to create wealth.
He took a job in the home loans division of a bank so he could learn about the home loans process.
He bought his first house 5 years ago and soon thereafter, attended a real estate seminar run by Nqabenhle (episode 28) who was looking for investors for 40 units in Johannesburg CBD.
He bought 4 out of the 40 units and paid R700, 000 (US$38,000) in total, using bank funds. He still owns those units and rents them out for R20, 000 (US$1100) a month.
In the podcast, he told us that this kind of return on investment is a once in a lifetime opportunity.
A few years later he bought a 2 bedroom unit in the CBD for R270, 000 (US$14,575) and rented it out for R6,500 (US$351).
He then built a relationship with a real estate agency so he could start getting access to deals before they were even advertised on the market.
Click play below to learn how Papa built that relationship and how he was able to build his portfolio to 9 properties in 5 years. Let us know your thoughts in the comments section below.
Side bar: in this podcast Vangile promised to share one of her friend's travel podcast. The podcast is called: Black Woman Travel Podcast. You can check the interview she did on the podcast here: https://blackwomentravel.ashalbh.com/chapter-1-vangile-of-wealthy-money/
