How to make R27,000 (US$1,695) per month on your first property flip
In this week’s podcast we talk to Susan Granger who defines herself as a creator. She explains that all her adventures have to do with what she feels inside her. She creates because she wants to see something growing.
She is the owner of Nubian Q Urban Farm where she grows her own food organically and teaches others to set up their own sustainable food gardens. She also has a seed bank that she has started creating and is currently sitting at 400 species of seeds.
Her food garden is in an estate - she uses small amounts of land to build sustainable food.
She bought a house after her husband’s passing - she realized she needed to survive, so she reached out to Dr Miranda for property mentorship. She hired two lawyers just to be safe, an architect and a project manager and started the purchase of a property in Yeoville.
She bought a single 5 bedroom house, a kitchen, one bathroom and one toilet. The house also a had a patio and other outside dwellings including a salon. Next to the salon there were other 2 rooms with a bathroom. The house had not been occupied for 4 years and was run down with dog poo and rodents in the house.
They converted the 5 bedroom property into 9 self contained units - each unit has a bathroom and a kitchenette and is open plan. Every unit is different and they decided to keep the aesthetic of the unit but they had to replace the plumbing and rewire the whole house.
The property cost R820,000 and R380,000 to renovate and is still under renovation (renovation started March 2022). Her focus when she was renovating the property was to create a brand and build a house with dignity so she bought instant water heaters and provided free wifi in the property.
When they were done renovating the house, they received several offers to purchase the house, but she chose to keep the house and rent it out. The lowest monthly rental is R3,000 and she is increasing it to R3,700.
This is another incredible podcast.
Click on the podcast below and leave us a comment on the comments section.
Books that inspired Sue:
She doesn’t read but she is obsessed with tiny houses on YouTube
Contact:
Instagram: https://www.instagram.com/nubianqurbanpatch/
