In this week’s podcast, we talk to Percy Singo; originally from Venda, he studied Civil engineering at Vaal University of Technology and works for a municipality in Gauteng.

Percy bought his first property because he was tired of renting. So in 2015, he bought a stand-alone house in a new development.

Although he took out a loan for the property, he was able to save R15,000 (US$1,000) per month between 2015 and 2018 and used that money to pay off the mortgage on his property in 2018.

When he started looking into real estate investing, he understood that he’d made a mistake with the property - the land on which the property was built was too small and he needed a bigger yard in order to build extra units and rent them out in the future.

He bought his second property (a 2 bedroom stand-alone house) with a bank loan and used his savings for renovations and construction. That property now cashflows at R30k (US$2,000) per month. 

He then saves the money that property makes and uses it to renovate the next property, as a result, Percy currently has 4 properties with minimal debt.

In this podcast, Percy shares how he has been saving and using his own savings (cash) to build/ renovate the properties he purchases so he can grow his property portfolio.

He understood early in his real estate journey that it wasn’t enough for a property to pay for itself - it also needed to make a profit.

We hope you enjoy today’s podcast.

Click play to listen to the episode and leave us a comment in the comments section below.