The Low Money or No Money Down strategy of Property Investing
In this week's podcast episode we talk to Obakeng Ben Malapile, a 25-year old a mathematics science graduate, real estate agent, YouTube vlogger and property investor.
Obakeng started Forex trading while he studied, he was then influenced to invest in property after reading Rich Dad, Poor Dad (Robert Kiyosaki). He started his YouTube vlogging while attending property master classes and working with a property mentor.
He set his mind on finding out how to invest in property with little or no money down. He spent 3-years reading, listening to property podcasts and being mentored.
His first investment property was bought in 2020 cash, in partnership with an investor that found him via his YouTube channel. They bought an apartment and turned it into a 5-bed multi-let abode and it cash-flowed from day 1.
The investor had been following him for a while on YouTube, and they decided to formalise their partnership- Obakeng had the time and knowledge of property, the investor had cash sitting in the bank.
He went on to an Air BnB masterclass to learn about Short-Term Rentals. He now has an Air BnB mentor because his #2 and #3 properties are short term rentals that he does not even own. He used this investor, his credit card and his salary to furnish his two apartments.
Obakeng also shares about the power of building a powerful credit score as a young person or even as a student. He has even drawn in his two younger siblings into his property business and has set them up with debit cards in order to begin building their credit portfolios.
Obakeng is working on his third short term rental. He spends all his time on YouTube and property/ finacial podcasts. His favourite one being BiggerPockets. He intends extending his learning to the many property strategies and one day soon owning a guest house or Hotel.
This episode is another incredible podcast episode.
Click play to listen and leave us a comment in the comments section below.
PS: We launched a Property Stokvel and are currently fundraising for the next Property deal on January 6th, 2022. The deal is a flip and has a 15% ROI in 3 to 4 months. If you want to be part of the stokvel and would like to invest in this deal, then we want to invite you to join the stokvel at this link: wealthy-money,com/stokvel
