MASTER INVESTOR PROFILE
17 % and later to 25 %. When I started there were only about 5 distressed property auctions a week , but as the interest rate climbed so too did the number of auctions . At one stage there were up to 30 auctions every week in Cape Town alone and I was training proxies to represent me while I was representing other investors somewhere else .”
Conscious is calling
“ At that time , most Sale of Execution auctions were held on the property in question , and often the owners would be present too . On the one hand , I would celebrate if I got a good deal , but then you have to look into the eyes of the person whose home you ’ ve just bought under value , and you realise that their financial troubles are only getting worse . This started to weigh heavy on my conscience but I would justify myself with the old cop out - if I don ' t buy it someone else will .”
“ The epiphany came just after 2000 when one day I realisedI just couldn ' t take it anymore . I cancelled all my meetings , took the day off , and prayed . Through His Grace , I realised that I didn ' t have to profit from another ’ s disadvantage . I
Financial & Rental Manangement Team
16 OCT 2022 SA Real Estate Investor Magazine