MASTER INVESTOR
Soon , the partnerships enabled the business to grow to such a level that Jack had to resign to manage the business full time . With a growing rental portfolio , the management of the tenants and properties needed a more dedicated focus and they partnered with Bevin Thomas , who is now the Managing Director for their property rental business “ Frost Peak ”.
As the projects became more complex Jack and his partner realised that they were out of their depth when it came to technical know-how in development and renovation . That is how Hubert Viljoen , with over 20 years of experience in property development , became their partner for special projects and developments .
As could be expected , managing different partners with different legal contracts became complex and Elize Le Roux raised her hand to become their specialist legal partner .
The core partners to this day all have a specialist function in the business and this is how they manage to grow faster . As a team they learn , have fun and do business together whilst creating legacy for their loved ones and their investor partners .
Becoming a Fund In the beginning when they ran out of money they reached out to family and friends , who to this day earn 14 % per year on their investment . Solving the challenges they had as employees , they are paying out these returns on a monthly basis . Word of mouth spread fast and soon there was more money than deals and as focus shifted back to deals , there were more deals than money again ! In this business they needed to learn to balance the two whilst securing people ’ s hard-earned money .
Fast forward to 2021 they partnered once again , this time with a fund manager , Joe Volschenk , who assisted them to create a Section 12J Fund where any taxpayer can get 100 % tax back on their investment amount .
" Property can give you an income today if bought correctly and it can give you equity if managed well ."
They wanted their fund to make a real difference and not only help everyday people to earn passive income , but also tackle a bigger cause that spoke to their hearts . They decided to invest the S12J funds in the student accommodation industry . Through their experience in providing housing to over 500 students in the past two years , they realised that these students are the future and hope for their families and that they can contribute in some small way to impact the lives of thousands of people across South Africa .
6 JUNE 2021 SA Real Estate Investor Magazine