How to build a portfolio of 105 properties in 13 years
In this week's episode we interview Nqabenhle Manana who has managed to build a property portfolio of 105 properties in 13 years.
Nqabenhle bought his first property for his grandmother and his second house his wife and kids.
He looked at how hard the executives at his company were working and how much they earned and started having doubts about the salary route; luckily a friend told him about Robert Kiyosaki's book, "Rich Dad, Poor Dad."
One week after reading the book, he bought his first property, for R80, 000 (US$4,970) in Windsor East, Johannesburg, South Africa.
Three months later, he had his first tenant and was renting out the property for R2,500 (US$155) a month.
A few months later, he bought another house in the same complex and he was hooked - he saw how property could replace his income.
A few months later, a friend told him about investing in the CBD and he changed his investment strategy from buying houses to buying apartments in the CBD.
To grow his portfolio to 105 properties, he focused on:
- Cashflow
- Properties with a 20% return on investment
- Plowing back all his income into his property business
Let us know your thoughts and insight on today's episode.
