Growing a Property Investment to own two Residential blocks of flats
In this week’s podcast, we talk to Julie Mxhakaza, a full-time property investor who describes herself as someone who has been bit by the property bug.
Juliet is on a mission to become a serious player in the property space and is the founder of Zinathi Property, a company that currently owns two residential blocks of flats.
Juliet bought her first property as soon as she started working and could qualify for a bond/ mortgage. She decided it made more sense for her to pay for a mortgage, than it was to pay rent.
Shortly after buying her first property she had to move for work, rented out the first property and found herself renting again, so she decided to buy a second property.
She started exploring various entrepreneurial ventures and soon realized that property was her true passion, so she started looking into how she could own buildings and soon learned about TUHF and how they fund based on character and not credit scores.
The first building she found was in Booysens, Johannesburg and 12 units (2 bedroom apartments) that was funded by TUHF (80%) and sold some land she had in Pretoria to raise the 20% down payment for the deal.
The second building is 10 units in Krugersdorp and she rents those apartments out per room vs renting out the entire apartments.
