From domestic worker to owning a building that cashflows at R409, 000 per month
In episode 25, we talk to Ma Josephine, who was referred to us by TUHF because of her remarkable story of tenacity and just all round awesomeness.
Ma Josephine is a domestic worker, who came to Johannesburg from the North West province of South Africa.
She came to Joburg, for the same reason most people do - looking for a better life.
Along the way she started to see how so many young kids would come to the city to study and would struggle to find accommodation.
This sparked her interest in student accommodation and how to solve the housing shortage in this market.
Through a series of events she was introduced to the owners of an inner city building, Harmony House, and later given the opportunity to buy the building in 2000.
She had no money to buy the building and she couldn't get a bank loan but she remembered that 2 years ago (in 1998) she had been told about TUHF.
She went to TUHF and was a granted a loan, but couldn't take up residency in the property for 8 years, because the building had squatters living in it.
She finally took full occupancy of the building in February 2009, got more funding from TUHF and renovated the building to accommodate 124 tertiary students.
The building got instant accreditation from NSFAS and was one of the first student accommodations in Doornfontein.
Today Ma Josephine's building cashflows at R409, 000 per month and is still being extended to fit an extra 60 units.
Hers is a story that makes all of us believe in our dreams and reminds us of our own power.
