Vft Property Management
Vft Property Management – Chapter 103: How to go from a negative cash-flowing property to raising R9 million (US$571,000) for property development
On this week’s Property Wizards podcast, we speak to Thabo Mongoato, father of 3 sons and full-time property developer and coach.
Vft Property Management
Thabo started as a pharmacist then did his MBA and worked in different fields, until 3 and a half years ago he moved into real estate full time.
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In this podcast he shares how property has always been his passion, but he invested in property “the wrong way”.
He bought his first property to have a roof over his head – interest rates were at an all-time low and the rent and mortgage were the same, so it made sense for him to buy.
The second property was an investment decision that went wrong, he participated in property training courses that taught him that the property he is buying does not have to be positive in cash flow and that a property appreciates over time and he believed them, but then the property started to depreciate. cash flow and he ended up selling it at a loss after 5 years.
When he had to leave his last corporate job, he realized that wealth had to be thought of in a different way. He started reading a lot and attending seminars and workshops and learned about property and the right way to do things and started to turn around and moved into development.
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After a few months of training, he attended an auction in Boksburg, bought a property, flipped it and made R151,000 in 5 months.
He then bought a development, which was a semi build for 84 units, which looked simple on paper but ended up taking 3 years to develop due to covid and rising prices.
He is currently working on another development in Braamfontein in Johannesburg and has raised $9 million for this development.
Today’s episode is a bonus episode and is a replay of a webinar we did last week; Talk about the next deal for the wealthy Stokvel assets.
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The first property investment we made as a Stockwell was very different – we invested in Bizzhouse’s Villa Lisa property at 15% per month.
The next deal we are currently recruiting is a flip, where the investor is looking for money to renovate a not-so-nice property and sell it for a profit. We will lend them the money and generate 15% ROI within 3 months. We have until January 6, 2022 to raise the funds to invest in this deal.
Please go to Google Play or iTunes to download the Stokfella app and join as a member, then search for the Stokvel Wealthy property and request to join as a member.
PPS: If you’re based outside of these four countries, listen to the podcast to learn how to join.
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In this week’s episode of Property Wizards we interview Alfred Kashindi, a 21-year-old property investor who lives with his grandmother in Soweto, South Africa.
Alfred is originally from the Congo, his mother and father came to South Africa when he was 5 years old, as a refugee.
Alfred decided in the 7th grade that he would never look for approval outside of himself and in the 11th grade, he started asking himself what he wanted to be and learned that he was not afraid to take risks.
In 2018, he started writing a book about what he would do if he had a million dollars and wrote 100 things. He listed 100 ways to make a million dollars and then decided he was going to do each of them and see which of those things resonated with him.
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In 2019, he started to realize that he was building a mindset and started reading “Rich Dad, Poor Dad” and focused on working on his money mindset.
He also attended the Robert Kiyosaki Seminar, where he met Tony Ninkovich (Chapter 57), who later became his mentor.
Tony then taught him how to find deals; He started negotiating deals for investors and making money that way.
He earned R8,000 (US$496) on his first transaction and then earned R150,000 (US$9,293) within 4 months of origination.
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PS: We have launched a stockwell property and are currently raising funds for the next property deal on 6 January 2022. The deal is a flip and also has a 15% ROI and will be hosting a webinar on 2 December 2021 at 18:00 South Africa Time/ 11:00 00 EST.
If this podcast resonates with you and you want to be part of Stokvel, then we want to invite you to join Stokvel at this link: wealthy-money, com/stokvel
In this week’s podcast episode we share what we, the hosts of the Property Magicians podcast, did – a few months ago we launched The Wealthy Ones Property Stokvel and raised R331,000 / US$21,000 in 5 weeks and then invested that money in property development for 15% per year.
In this podcast, we share the journey of starting the Stockwell and fundraising and how you can get involved and be a part of the Stockwell.
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We are currently taking donations for the next property deal on January 6th 2021. The deal is a flip and also has a 15% ROI and will be hosting a webinar on December 2nd 2021 at 6:00pm South Africa Time/ 11:00am EST.
If this podcast resonates with you and you want to be part of Stokvel, then we want to invite you to join Stokvel at this link: wealthy-money.com/stokvel
In this week’s podcast, we talk to John T. Griffith, who is the first person to ever tell us about big pockets and inspires us to get on the property.
We share how the podcast started with a simple email from John, which led him to share his journey in the #MoneyMagic student group, which led to the Property Magicians podcast. As part of the 100th episode, we thought it would be fun to have John come on the podcast to share his property investment and entrepreneurial journey.
Property Magicians Podcast
John is based in Boston, MA and defines himself as an entrepreneur. He runs several businesses; Real estate is one of them, the other is a business of training and healing.
He got into the property because he was tired of paying rent to his landlord who was chilling in Florida and collecting rent checks from his tenants.
He also had a job where he paid $50,000 (R767,000) in taxes a year, which upset him because when he ran his own business he barely paid tax.
So he started asking questions about how to pay less taxes and was told, by a friend, to get into the property.
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He bought his first property—a 3-unit (1-bedroom) property—in 2017 for US$540,000 ($8.282 million) with no money down (he got a VA loan).
The property was cash positive from the start – he and his wife decided to break into the house; They lived in one of the units and converted the other two units to 2 bedroom units, which allowed them to pay zero rent and still increase their rental income.
When their daughter was born, they needed more space and decided to buy a new property. They used a home equity line of credit to borrow $33k (R506k) in equity, which became a down payment on the next property.
The second property had 2 units – one upper and one lower. They did the lower level AirBnB for a year and now have a daycare license and will use this unit to run a daycare with 6 children at US$2000 (R30,673) per child per month.
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PS: To celebrate the 100th episode, we’re running a series of live interviews with some of the show’s guests on our Instagram profiles to hear how being on the podcast has impacted their journey as investors. The interviews take place in the evenings this week; On the day of the interview we will announce the guests and the time of the interview. To get information about these, follow us on Instagram: @VangileMakwakwa and @PropDocMom
In this week’s podcast, we speak with Cindy DiBetta, Ken Rik, CPA and board advisor.
Cindy is the founder of Cosec 8, where she establishes statutory and advisory boards for medium-sized entities that want to break through the glass ceiling for large businesses, guide people who want to join a non-executive board and recruit non-executive board members.
Cindy and her late husband bought their first property within days of deciding they were tired of renting and wanted to own their own.
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When their family began to grow, they sold the first property to raise the deposit to purchase the second property.
She and her husband then bought 2 properties (2 units) for their child, so that their children would have their own property upon graduation.
One day they went to an Airbnb to visit mom and were served “burnt” bacon so she told her husband to buy them a property so they could make their own bacon when they went to visit her mom.
When her husband moved and there were problems with
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