Newly joined from Johannesburg, South Africa

Newly joined from Johannesburg, South Africa

Johannesburg, South Africa · Member since 2019 · 12 posts · 7 votes

Good morning/evening to all!

I'm so excited to be here - after listening to the Bigger Pockets podcasts for the last 6-8 months and reading numerous books on real estate and business, I am more eager than ever to educate myself as much as possible and start my investment portfolio this year.

I feel a quick introduction to myself is in order, so here's some background on who I am and what I am looking to accomplish this year:

It all started with my endless search for "the perfect solution" to my endless problem of needing to climb the corporate ladder. "There must be more to life than just getting up, sitting in traffic, going to the office, living from paycheck to paycheck or promotion to promotion..." - I thought to myself. So I started reading books and listening to a ton of podcasts with the focus on passive income and business success. 

Currently at age 26, I think it is a great age (if not a little late) to start working on a better retirement plan compared to the "study, get a steady job and wait for retirement funds" route I've been told my whole life. So I currently find myself in a well paying and steady job where I am building a career - however, my greatest desire is to start working on building my investment portfolio part time and accumulate enough passive income/cash-flow to the point where I can DECIDE to work, as apposed to NEEDING to work.

In essence, I am here with the hopes to learn and make friends with new and experienced individuals - and like the great Napoleon Hill, Zig Ziglar, Robert Kiyosaki, Richard Branson and of course Brandon Turner have all taught me through their published materials - to surround myself with like minded people.

I am looking forward to spend as much time here as humanly possible.

Greetings from Johannesburg, South Africa

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Pretoria · Member since 2019 · 2 posts · 6 votes
7y

Hey Marno. (hoe lykit?) I'm situated in Pretoria and also brand spanking new to the property market. I recently started a business and trust in order to build up my property portfolio and it is quite exciting so far. I bought/reserved my first rental property from a developer which will be completed by the end of August 2019. Things are looking good so far and the ROI over 20 years seems promising. Let me know what your plans are. I see you posted in another post and I will reply on that shortly.

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  • Pretoria · Member since 2019 · 2 posts · 6 votes
    7y

    Hey Marno. (hoe lykit?) I'm situated in Pretoria and also brand spanking new to the property market. I recently started a business and trust in order to build up my property portfolio and it is quite exciting so far. I bought/reserved my first rental property from a developer which will be completed by the end of August 2019. Things are looking good so far and the ROI over 20 years seems promising. Let me know what your plans are. I see you posted in another post and I will reply on that shortly.

  • Durban, South Africa · Member since 2016 · 11 posts · 9 votes
    7y

    Welcome Marno, good to see the South African population growing.

  • Johannesburg, South Africa · Member since 2019 · 12 posts · 7 votes
    7y

    Thanks for the warm welcome gents. 

    @Charl Ellis, it's great to hear you have started on your portfolio! Please keep me posted on how the progress is going and once you have your first renters in - I am really excited for you.

    As for my plans - at the moment I am studying and researching as much as possible whilst saving up enough for a sizable down payment (either on one single family home or on at least two well priced apartments) to start with.

  • Real Estate Agent · Pretoria, Gauteng · Member since 2015 · 5 posts · 5 votes
    7y

    Welcome Marno, wish you all the success. I specialize in investment properties directly from the developers in the Pretoria region, so let me know if I may assist you in anyway.

  • Member since 2019 · 3 posts · 1 vote
    7y

    Hello. Good to see you!

  • Johannesburg, South Africa · Member since 2019 · 12 posts · 7 votes
    7y

    Hi @Sunil Khusal, thank you and nice to virtually meet you! I definitely will.

    @Rosa Vaughan, hello! :)

  • Member since 2018 · 6 posts · 2 votes
    7y
    Originally posted by @Charl Ellis:

    I bought/reserved my first rental property from a developer which will be completed by the end of August 2019. 

    Hi Charl

    Most of the deals from the developers are over priced.  Just make sure you get a mark related  priced property.

    Jimmy @ Klerksdorp 

  • Randburg, Gauteng · Member since 2016 · 11 posts · 6 votes
    7y

    @Charl Ellis how did your deal come along??

    Hi @Jim Theunissen

    Very true!!

    I know in South Africa you can get some good tax breaks if you buy 5+ newly developed properties by using Section 13sex - many people unaware.

    Hearing BiggerPockets, there are some plus sides to buying into newly developed properties as well such as reduced maintenance costs, newly built, developer still held accountable for X amount of years after developing for any major issues, quite often built where the is a big need for housing and over the long term you can benefit from these

    Would I buy from a developer?? Sure, if I know that it’s a distressed sale and I can cashflow from Day 1...

    Otherwise we (KOURO) will look to acquire older distressed properties and renovate and create a Multi-let or flip it on for quick profits

    How did your deal come along

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