Investing in 16 high cashflow units Ekasi
In episode 14, we interview Ndumiso Nkonzo, an accountant who sees himself as a farmer at heart. He invests in multilets ekasi (the township).
At the time of recording the podcast, he had a total of 16 property units.
Nkonzo bought his first 2 properties by accident in Midrand; because of his two friends.
His property journey started when he changed jobs and his new boss introduced him to reading and recommended "The millionaire next door" and "Cashflow quadrant."
Those books changed his life and turned him into an investor.
He focuses his attention on buying township properties and then converting them into multilets with backrooms.
His strategy for multilets is unique because he chooses to buy land with one house and then build more properties on there.
It has proven to be a very profitable strategy - one of his properties has a gross income of R13, 000 (US$873) and a net income of R7, 000 (US$470).
Nkonzo has also found a really simple and unique way to make sure that his properties always have tenants.
To learn more listen to the podcast.
You can contact and connect with Nkonzo here:
Ekasi Properties Facebook group: https://www.facebook.com/groups/358215991601671/
Personal Facebook profile: https://www.facebook.com/ndumiso.nkonzo
