How to Create different Cash Cycles as a Property Developer
In this week's podcast episode we talk to Sabelo Simelane, a full-time property developer and real estate agent.
Sabelo started off in Industrial Engineering, realized he didn’t like it and moved onto banking where he started learning about property development.
One day he had an aha moment where he realized he had 3 cars, but no wealth, in fact, his cars were depreciating in value; this then started him on his property journey.
He bought a 3 bedroom property in the East Rand in Gauteng for R330,000 (US$22k) in 2009 in a new development, 5 years later he sold the property for a profit of R140,000 (US$9,300).
He then decided to buy some land and built 7 flats (apartments) on there, he lived in one of the flats and rented out the other 6 for R4050 (US$270) each.
After that project, he bought more land and decided to move into short term rentals in order to diversify his business and cash cycles.
We hope you enjoy this episode as much as we did.
