Sandton offices since 2008. As a result, the company
is well-known as Southern Africa’s specialist for
promoting Cyprus as an ideal destination for
property investment, acquiring permanent residency/
citizenship, immigration/retirement and starting a
European-based business.
From tenants to investors
Jenny says that she and her husband were tenants for
many years while living in Johannesburg: “It made
financial sense at the time, as we had a young family
and growing businesses. When we moved to Cape
Town, we rented for a year to get a feel for the areas
we wanted to consider in terms of accessibility to
schools.”
“While renting, we had saved up a decent
deposit. When we found the right property, we
secured a mortgage and purchased our first house
in the suburbs. We has also saved up enough to do
a complete refurbishment. We sold the property
within a year, which means we benefited from
paying minimal interest on the loan and also made
a substantial profit, so we had an even bigger deposit
for our next home,” comments Jenny.
“It was at this time that we realised the immense
importance of buying in the right area to successfully
fix and flip a property. The investment in the
renovation was well worth it: we changed an average,
dated house into a modern home, which meant it
had market appeal and was an easy sell. The lesson
we learnt is that it’s advantageous to buy a decent
house in a good area: there is always a high demand
for properties in those suburbs.”
Jenny adds that selecting investment properties,
acquired with the view to rent them out, involves
different motivators. “When buying an investment
property, we are critical about location appeal, market
growth, rental returns and, of course, affordability.”
“At every stage of our journey, we were aware of the
role of the right property in realising our immediate
needs, in creating additional income and in legacy
planning. And at every stage we were, and still
are, critical about aligning ourselves with the right
individuals and companies who could give us the
best advice and service,” she says.
Advice for women who to start invest in
property
•
Take control of your own future and have the
confidence not to leave such an important
decision solely to someone else. Ensure your
voice is heard if making the investment decision
with a partner, especially if you are contributing
financially.
www.reimag.co.za
• Don’t let fear stop you from entering the
property market. You can up-skill yourself
by attending property-related conferences,
seminars and networking events. Subscribe to
industry newsletters and research the best-ofbreed services providers (mortgage providers,
attorneys, estate agents): you want to build a
relationship with them.
• Chat to a mortgage specialist about the ins and
outs of qualifying for a home loan, the longterm commitments and all the costs of buying a
property. You need to be clear on what you’re in
for - now, on transfer and in the long run.
• Be clear on the reason why you want to buy
a property. You will approach the purchase
decision with a different mindset if you want to
create a home for a growing family than when
investing in a property to rent out to a tenant to
earn a subsidiary income.
JENNY’S FIVE TOP
TIPS FOR PROPERTY INVESTORS
1
2
.Be clear on your short, medium and long-term financial
goals, so that your property investment will always fit
into your plan.
.Thoroughly research the property’s location and
accessibility to amenities, facilities and infrastructure.
Analyze the reasons you’re interested in the property
and the issue that concern you: these will be the same reasons
and issues a potential buyer will have when you want to sell
in the future.
3
.Deal with credible people, companies and service
providers. Take time to research with whom you are
dealing and be clear on all of the fees that will be
charged. Don’t be afraid to ask for referrals and take the time
to actually call those people, so you can have peace of mind
that the person/company is the right choice.
4
.Ensure you can comfortably afford the monthly
instalments. If you are renting the property out and
relying on that rental income to subsidise the mortgage
instalments, have at least four months’ rent in reserve in case
your tenant defaults. It takes time to evict a defaulting tenant!
5
.Take your time and don’t feel pressurised into making
financial commitments until you feel certain it is the right
decision and will meet all of the property goals you’ve
set. There will always be a good deal to be had.
Offshore Handbook 2016
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