INVESTOR STORY
• I bought my first property at 19 - 2012
• I reached my first million at 22 – 2015
• I quit my day job as an Industrial Engineer and became a full time entrepreneur- 2016
• We published my first book “ How to become a millionaire at 22 ” -2017
• I was featured on TV , radio , newspapers and even the Entrepreneur Magazine – 2017 - 2018 The best highlight of all is to see all the entrepreneurs and school students ’, all over South Africa , eyes light up when I tell my story - knowing that I have inspired them to do something great with the potential they have .
What have been your best and worst experiences in investing ?
My best investment is still my very first property . It has the highest Return on Investment and still the most stable investment after 6 years . When my other properties were empty for some months , this one never failed me .
My worst investment was in Bitcoin . Enough Said .
What were some of the most important lessons you learnt from the experience ?
The most important lesson I learnt from these experiences is that you should only invest in things or endeavors that you are very knowledgeable about . I only buy properties in a 5km radius of where I live . I know my area very well , I drive through the streets every day and grew up here . I know all of the property price ranges by heart . I know where the turf soil is , that cracks up a house and I know where industrial areas are that creates a lot of unwanted foot traffic . I know which areas are more likely to be targeted by criminals , in turn decreasing the selling price . I know the people staying here and I know where the new developments are being planned that will increase the value of my properties . I make it my business to know .
I can easily take all of the variables into account when looking for a profitable property , variables that someone from outside my area would not know anything about .
Only invest in areas that you are very knowledgeable about . It increases your opportunity to make more profit and deceases the risk factor of your investment .
Please share your top business and investment tips for our readers
Don ’ t “ over-invest ”: To many investors want to repaint the whole house , put new tiles and granite tops , take out all the perfectly working utilities and replace it with the newest golden taps and toilets . This is completely unnecessary . Only spend what is necessary to get the best Return on Investment .
I once spent a whole weekend repainting the ceiling of one of the bathrooms in one of my properties . I noticed that the paint was starting to peal from the ceiling because of the steam and moisture from the shower . It looked really bad . I scraped all the old paint off , sanded the ceiling , painted an undercoat , sprayed water protection on and finally painted 3 coats of new white paint . Very proudly I called my tenants to come and look at the hard work I put in . “ Look ! I fixed the ceiling ”. Their response was : “ It looks nice . What was wrong with it ?”
Keep on “ re-investing ”: As soon as you start making money , don ’ t spend it all . Keep on putting the money back into your properties and investments . Live lean and conservatively whilst building a massive empire . You will quickly find that money creates money and by re-investing your returns , you will start to build “ money machines ” that can print money 24 / 7 so that you can shift your focus to living life instead of worrying about a paycheck .
Get your hands dirty : Don ’ t be afraid to jump in and do the hard work . With my last property I renovated , I saved more than R800 000 of building costs just by doing it myself with my own team . Outsourcing is expensive as you are paying someone else to “ create value ” for you . Rather create the monetary value yourself by putting in some elbow grease .
Keep on building your mindset : Never stop reading or consuming knowledge . I am constantly reading books , meeting with other investors & entrepreneurs , reading the latest property and tax laws etc . Your actions gives you a good indication of what you think about . If you are constantly reading and thinking about business , investment opportunities and building wealth , then that is exactly what you will do .
Make sure you have a SUPER team : I cannot even imagine to count how many times my family and people close to me have assisted me in my journey . From my dad fixing a broken geyser at one of my properties while I was on holiday and my mom showing a new tenant the house while I was writing exams , my brother managing my building site while I am away for business and my partner making a late night coffee when I am filing my tax returns .
You need trustworthy people in your life that you can always depend on . Without these people the whole cart can tip over very quickly . Make sure you invest in the people close to you , the Return on Investment here is unmeasurable .
Do you consider yourself a success and if so what does success mean to you ?
Yes I do , I believe success is when you are able to live your dream life without constraints from other people or your bank account . When you have freedom to make your own choices and CRE- ATE your own future . When you are able to make a difference in your community and a change in the world for the better , then you are successful .
With my book “ How to Become a Millionaire at 22 ” my team and I are traveling the country , making positive changes in our community . I work with so many entrepreneurs every day , helping them to build their businesses and inspiring them to achieve greatness . I do what I am passionate about all the time .
We can see the changes in the people ’ s lives for the better . We are leaving our mark in this world . That is what I consider as success .
What makes a great property investment
Elbow grease . Too many investors buy “ finished ” completed properties with low Return on Investment . A great property investment is if you can buy a property with low value in a high value area . Turn it into a high value property . Get your hands dirty and create the value . don ’ t be a consumer . be a creator .
What is your life philosophy ?
You can create your own dream life and future by applying the correct amount of hard work , passion , dedication , guts and persistence . Don ’ t blame anyone else , take responsibility for your success or failure . You decide how your future looks .
What is your favourite quote ?
Whether you think you can , or you can ’ t , you ’ re right – Henry Ford
One adjective to describe yourself
Passionate
What one thing would you like to do to make an impact on the world ?
I would like to change people ’ s mindset about wealth and teach them the correct financial concepts so that they can also become financially independent to fund their dreams and passion .
SA Real Estate Investor Magazine SEPTEMBER / OCTOBER 2018 33