How to go from 0 to 8 properties in 6 years
In episode 26, we interview Khanya Ngonyama on how he was able to go from 0 to 8 properties in 6 years.
Khanya is a water and environmental engineer and he runs a small water company.
A few years ago, he started thinking about financial freedom and realized that having one salary is not sustainable, that's when he started looking into various investment vehicles and eventually decided on property investing.
He joined P3 Investments and was advised to start building a real estate portfolio.
He did his research and decided to build his portfolio by buying properties below R600, 000 (US$40,000) and based on location.
He decided to target Kempton Park, Boksburg and Pretoria North in Gauteng, South Africa, because thats where a lot of companies are, so there are employees who could be tenants.
His first property was a single one bedroom property in Pretoria.
He bought his second property off plan, using R30, 000 (US$2,000) in savings to pay down the deposit.
After that, he decided to buy 1 property a year and focused his attention on building his credit, learning how to buy property on auction and building relationships with agents in order to make his goal of one property a year a reality.
Click play and hear how Khanya has been growing his property portfolio. Let us know your thoughts in the comments section below.
