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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 117: Using multiple strategies to build your real estate portfolio
Property Magicians Podcast
1 hour 25 minutes 49 seconds
3 years ago
Episode 117: Using multiple strategies to build your real estate portfolio
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!
Property Magicians Podcast
Real Estate Podcast for men and women of colour on the African Continent. Hosted by 2 South African women, Vangile Makwakwa & Dr Miranda Moloto.