Why Buying A House Is Keeping People Poor

追加: 2026-05-21

[00:00:00]Once you say if you invest in property you're going to be rich.

[00:00:04]>> Okay.

[00:00:04]>> It's not true for everyone.

[00:00:05]>> The one thing misinformation has also been such a big thing. Like the idea of I when I when I buy property when I own property I'm going to be rich. I'm going to be wealthy. That's that's wrong.

[00:00:17]That's so wrong.

[00:00:18]>> It's us Africans actually who are stuck on that. When you go to the European side of things, those guys they most of them they actually rent for their lifetime, >> but they invest in stocks and everything else >> and they become rich.

[00:00:31]>> Before marriage, I've been building a portfolio. I mean, I've been renting all my life.

[00:00:36]>> Yeah.

[00:00:36]>> And I've own multiple properties, right?

[00:00:40]>> Your favorite real estate principal and property investor, Misha Winston Kun, is back and this time he's not alone.

[00:00:47]Joining him is tax accountant and property investor Mandela Kenja. In this episode, they demystify property investment and share practical strategies on how to buy property in a way that guarantees returns and builds long-term wealth.

[00:01:03]>> Um there's a cash flow strategy, instant cash flow. There's a um equity strategy.

[00:01:08]After 3 years, you've raised equity, refinanced. There's Airbnb. There's there's high yields. Corporate rentals.

[00:01:15]You buy a property. You put in furniture and you specifically work with corporates. This is actually a market that a lot of people don't know about.

[00:01:22]>> My strategy is to claw back on the taxes >> I'm paying.

[00:01:27]>> Okay.

[00:01:27]>> And I look at my pay slip.

[00:01:29]>> Yeah.

[00:01:29]>> My tax payment >> could pay a professional.

[00:01:33]>> Sure.

[00:01:33]>> Wow.

[00:01:34]>> Sure.

[00:01:35]>> A monthly salary.

[00:01:36]>> Sure.

[00:01:37]>> Now that for me >> is what bothers me.

[00:01:40]>> No one is coming to save us. No one is coming to give us the lives that we deserve. We only have each other.

[00:01:46]Entrepreneurs teaching entrepreneurs.

[00:01:48]Welcome to the Entrepreneurs Chat podcast. Subscribe and share right now.

[00:01:53]Hello guys, how you doing? Uh Henry here back with another episode entrepreneurs chat podcast guys and today we've got a very interesting interesting episode. I mean you guys already saw the thumbnail.

[00:02:06]You guys already saw the title of this video. But before we go further guys share this video right now guys. Share this video right now. You know, we go live every Thursday, 6 pm, guys.

[00:02:19]Entrepreneurs chat podcast. And man, it's a fantastic one because I've got some two guys here. Some fantastic guys here. One of them, no stranger to the channel, >> right? Mr. Winstone Ken, right?

[00:02:33]>> Sure.

[00:02:34]>> CEO, founder, Libertalia Group.

[00:02:37]>> My good sir.

[00:02:40]That's that's that's that's that's a real estate company, right? And he's the principal, one of the youngest, if not the youngest principal.

[00:02:48]>> Yeah.

[00:02:48]>> Realtor.

[00:02:49]>> Realtor >> in South Africa.

[00:02:51]>> Well, not youngest, but yes.

[00:02:52]>> You're no longer the youngest.

[00:02:53]>> No longer the youngest, >> but were you once the youngest?

[00:02:56]>> I once was.

[00:02:56]>> Okay. He was at least at least there's some fact to what we're talking about.

[00:03:01]>> So So yeah, man. And we've got Mr. Mandela, but you're no stranger to to Success Inspiration Academy. our our short form platforms, Instagram, you know, talking about property, man. The guys the guys were not happy with you the other time, man. We did. But it's not strange on this channel. He's got a video on this channel which is which blew up. One of the biggest videos on this channel >> when he says do not do not pay off your profits.

[00:03:31]>> People were not excited about that video. you were angry about.

[00:03:36]>> The interesting thing is I think I like the fact that I've come to realize that I don't really say things that uh your guy in the street likes.

[00:03:45]>> Okay?

[00:03:46]>> Because these things are technical. So the the the reality of these things is they're not as easy as sometimes we make them. And I think that the influenc >> but reality is I mean if ever this thing was easy everybody would be doing it.

[00:04:07]You have so few people that get it right >> and that's why we need to >> put out the right information.

[00:04:14]>> Yeah. because I mean we are trying to liberate people and so my honest take uh these days is >> I know the crew that I'm looking at.

[00:04:23]>> Yeah. Once it's still you get a lot of people I like that that's I'm like we haven't hit the mark because and and one of the things that I've noticed since I mean since since your viral videos was >> so um people are not willing to to stay the course >> everybody wants like right now I think the interesting thing is I think Um, property investment has become a a a famous topic. Okay. Everybody seemingly is catching on to, oh, there's this thing and some people have been wondering for long like how does this thing happen?

[00:05:04]>> Now, everybody is in it and they getting all ends of >> being involved in the space.

[00:05:10]>> Now they don't know what are the pros and cons.

[00:05:13]>> Yes.

[00:05:14]>> Which which is what we want to talk about, right? Which is what I want to talk about. I mean, he's he's he's a a text practitioner, right? though we're not talking tax today. It's not not complic but uh you're also a property investor you know an avid I don't know if it's an a thing you can be an avid property investor >> but I just wake up >> guys I know you're enjoying this episode so let me quickly introduce you to our sponsors for today Pocket Broker as a beginner trader not only do you get access to top indicators top signals and social trading. You also get access to a community of traders. Yes, you get to chat with other traders and improve your own trading. And if that wasn't enough, you also get access to tournaments, free tournaments where you get to compete with other traders risk-f free and you get to win prizes. So guys, Pocket Broker is a fun platform, especially if you are beginning. You get top education and you get to improve your skills in a real way. So guys, sign up with my registration link in the description below and my promo code is ent chat 2.

[00:06:42]So go ahead and sign up now and enjoy your trading. But you've built a property portfolio um >> and and um and and that's and you're building your property portfolio and so so you've bought properties. Sure.

[00:06:57]>> How how many properties are in your portfolio?

[00:06:59]>> We are now we've actually bought another a new property late last year. Uh it's actually in the process of being transferred at this point. So we Oh yeah. So sorry. Okay. Maybe I Let me We moved into a new property last year, but that one we started We bought it end of 2024.

[00:07:16]>> Uhhuh.

[00:07:17]>> That's the one we're staying in now.

[00:07:19]Then we bought another one later on. That one is a primary residence now.

[00:07:25]>> So, we were leaving our previous primary residence. We're renting that out.

[00:07:29]>> Then we are now staying in the new one.

[00:07:31]Now, we bought another one though uh late last year. Now, it's being transferred uh literally it's in the final stages. Um, it's a little bit of a >> congratulations change in strategy on that one cuz this one is more cash positive.

[00:07:44]>> Oh yes. So there are strategies already you're telling us their strategies but but how many are they?

[00:07:51]>> I'm trying to think now the last video we had. I think >> this man is trying to think.

[00:07:55]>> No between seven and eight.

[00:07:58]>> Uhhuh.

[00:07:59]>> Yeah. Yeah. I think this one will be >> I must think I think this is the eighth.

[00:08:03]>> The eighth one.

[00:08:04]>> Yeah. And and Yeah. Okay. I'm going to go ahead. Let me not go ahead of it.

[00:08:08]>> Okay. All right. But we've established that you've bought some properties. You had the property spirit. You've got some properties.

[00:08:14]>> Uh so so so the question guys for today, >> the question for today >> is buying a house in this manner >> that we are told >> when you start working, when you get married for instance, you know, buy that house. Have have a roof over your head.

[00:08:36]own own the roof that's under your head.

[00:08:38]That's what they >> at least. They say at least the least thing you can do is to own that roof that's under your head.

[00:08:46]>> And um it's going to be rosy and that's your first step to wealth creation. You know, that's your first big move towards wealth creation.

[00:08:56]>> Renting you are, you know, you're paying someone else, right? That's that's that's the word, right? You're paying someone else. So So let's let's unpack this. Is this even true, guys?

[00:09:06]>> But they've been saying this thing way back since 2008, >> but have probably changed since the game has probably changed since the richest man in Babylon. There are probably now other players in the space, right? And and and yeah. So, so yeah. So, let's let's let's back. I don't know.

[00:09:28]>> I I I'll give it to you.

[00:09:31]>> All right. I think let me let me let me start by saying um >> so to say is this the strategy to create wealth >> is it real >> I'd say it's a subjective statement okay yeah because you can't say and and and I think the one mistake people make is when they think once you say if you invest in property you're going to be rich >> it it's dependent it depends it's not true for everyone it depends what you're doing again. You see um so mine I like actually drawing the picture that >> my strategy is to claw back on the taxes >> I'm paying.

[00:10:12]>> Okay.

[00:10:13]>> Oh my Yeah. So well I I recently looked at the tax >> coming from a tax practitioner.

[00:10:18]Let's let's fix that before anyone who actually so I I am working for an entity. I am a tax accountant.

[00:10:25]>> Okay.

[00:10:25]>> Yeah. Yeah. I'm a tax accountant. Um tax practitioner might get me in hot water there. My bad accounting, tax accountant. All right. So, >> one of the things that we see right now >> as employees >> and I look at my pay slip.

[00:10:42]>> Yeah.

[00:10:42]>> My my tax payment >> could pay a professional.

[00:10:46]>> Sure.

[00:10:47]>> Wow.

[00:10:47]>> Sure.

[00:10:48]>> A monthly salary.

[00:10:49]>> Sure.

[00:10:50]>> Now, that for me >> is what bothers me.

[00:10:54]>> Yeah. and knowing that I can use my taxes as a strategy or as a tool to generate wealth.

[00:11:02]>> That's why I do it.

[00:11:04]>> Yeah.

[00:11:04]>> And now my approach to it is different.

[00:11:08]So because you get a lot of people that will compare say ah yeah no other people are making money there >> and the and the and the and the issue is they don't understand why we do things and the the strategies then are going to be different. There are people who are in property to make >> money now.

[00:11:23]>> Yeah. Now those guys are trying to um to add or supplement what their income is actually what their income is.

[00:11:30]>> True. True.

[00:11:31]>> Those people probably then they can actually go and they do that probably their tax bracket might not be at that at the highest level.

[00:11:38]>> Yeah.

[00:11:38]>> If they are at the highest level maybe they don't understand >> what the implication is going to be because here's here's a simple overview.

[00:11:46]>> If I'm at at the 45% bracket, right?

[00:11:49]Yes.

[00:11:49]>> That means I'm paying 45% of my income to source. So if I'm earning a million, I'm only going home with 550,000.

[00:11:56]>> 450,000 goes to South right now. If I actually go and they and I make more money.

[00:12:01]>> Yeah.

[00:12:02]>> Now I my income ratio is going to be 0.55 of whatever additional rent I'm making.

[00:12:09]>> Sure.

[00:12:10]>> To the four to the 550,000. That means if I make another million, I'm still going to get another 550,000. Still another 450,000. Still go to South.

[00:12:18]That's 900,000. Now if I add another that's I'm actually so I'm enriching SARS >> as much as I so the the net effect of what I am making >> is actually way less than what I am intending to >> so now the idea then becomes how do I earn more >> tax rate >> okay >> now that then becomes because one of the realities is mostly in this day and age AI is actually going to get a lot of us so much hot water with SAS is using AI >> to I don't know if the last time you actually did a submission >> all your bank accounts are showing now.

[00:12:59]>> Yeah, >> sure.

[00:13:00]>> You actually get assessed for money you are transferring from your one account to another account of yours.

[00:13:08]>> You're not paying anyone else.

[00:13:10]>> So you have to prove to S that this was not income. This was me putting money in my other account from my one account.

[00:13:17]everybody that's been relying on everybody else. And I want to say maybe this is a good time to warn our taxpayers out there.

[00:13:23]>> Whatever the tax practitioner has been doing, just please ask them to check it again this time around. Maybe get a second opinion cuz a lot of people have been creating refunds for people.

[00:13:33]>> Sure.

[00:13:33]>> And now those things when S comes for you, even if you're going to say, "No, I had a text." No, no, S. Yeah. Well, that's your own thing. I This is your tax number. Yeah.

[00:13:44]>> Yeah. So, so, so >> interesting.

[00:13:48]>> All right. All right. We probably need another podcast with Right. So, so, so anyway, so, so if we >> talking about this issue of houses, >> so you said strategy, right? Uh, you know, it's very important in terms of strategy. So, so let's just talk about like a couple, right? Which which just got married. You know, you you you >> you are in the game.

[00:14:12]>> Oh, he just got married. Oh, congratulations.

[00:14:15]>> You know, you baby and all these and u >> you know the thing is like we need that that house man with the picket fence and and all these things.

[00:14:24]>> Sure.

[00:14:25]>> You know what what have you seen out there in terms of you know does this lead to success in your own view?

[00:14:32]Obviously they they're always variables but let's just say the the ordinary person in the street there >> who just >> sometimes people don't even know you know to be honest with you sometimes people don't even know >> you know offer to purchase.

[00:14:48]>> Yes.

[00:14:49]>> Sometimes these things they just even start hearing it once they go to view houses and the agent is like now what are you making an offer or not? Yeah.

[00:14:58]>> I was just going to view, right? But we still like you know, make an offer.

[00:15:05]>> Sure.

[00:15:05]>> I feel like people don't have much information, bro.

[00:15:07]>> Yeah, that's true. Um, that's a very great question cuz I look at it even in my personal life right now, right? Got married, have a child now.

[00:15:18]Now I'm finding myself looking for a property, a bigger property. Um, and so I'm currently in the process of of obviously getting a property for primary >> primary residence.

[00:15:32]I look at that as a property investor.

[00:15:35]Um, my wife, if she watches this, at least now she knows >> what goes on in my mind.

[00:15:44]>> Like, okay, like, okay, cool. We we're looking for the house. we want the house and we're happy and we're going to go into uh these financial commitments and whatnot.

[00:15:54]Before marriage, I've been building a portfolio >> and um I mean I've been renting all my life.

[00:16:02]>> Yeah.

[00:16:03]>> And I've own a multiple properties, right, from different strategies. I'm glad he spoke about that as well that you you you sort of when you look at property um there's a cash flow strategy instant cash flow there's a um equity strategy after 3 years you've raised equity refinance there's so many different strategies there's Airbnb there's there's high yields so you get a property you put on Airbnb uh there you're not only chasing cash flow you're chasing proper income you know from a high demand area >> um corporate rentals you buy property, you put in furniture, and you specifically work with corporates that place their employees in properties. Uh this is actually a market that a lot of people don't know about.

[00:16:48]>> So all of these different strategies uh like you're saying, they work for that the few the specific that have mastered it like as he said earlier. So the problem now with the the average traditional, you know, let's let's buy a house, it's wealth creation, >> it's going to increase in value. it's gonna increase in value. Um my our kids will inherit and they'll never have to worry about a home or or we will retire and then we'll down when our kids leave the house we'll rent it out. That will be our retirement income. There's a lot of like traditional um stuff that that I know it's talks and it's the idea of of property and wealth creation and it's so sad because like you're saying some of these individuals go into or couples go into these things not knowing what an OTP is like >> where's an offer to purchase. I mean, you look at an example of a firsttime investor, right?

[00:17:47]>> It's a mistake that I made, you know, when I when I invested in my first property eight years ago. I was excited.

[00:17:54]Got a pre-approval from better bonds. Uh got a good rate. Okay, sharp. Uh I have my first property. And then when I was in I realized oh wait um so you can be a trustee the body corporate if if and if you don't actually attend the meetings chances are those seven nominated trustees there because all of us that are home owners don't like those meetings we just want to get notifications >> watching seven dan I don't know >> generations reveals our age.

[00:18:32]>> Who knows watching that stuff or watching YouTube or something instead of going to that meeting?

[00:18:39]>> You know, some of us were saying for example, sorry to but someone on on one of the the on Instagram saying the problem these days um you know body corporates don't like Airbnbs and yeah the the problem is most of us don't attend those meetings right and someone else is busy making you know decisions.

[00:19:00]Yeah, simply because they've got the one unit that they stay in, they're making decisions for everybody because you simply don't want to go to the >> V. Actually, that's the point I was going to raise like >> you and then you're shocked there's a special levy or there's an increase there's 6% increase annually on the levy when you you've done your math 1 million I put in a tenant that pays 11,000 I only pay 800 in levies and maybe 800 in okay 1.2 too. Depends where you are in levies 800 in in municipal rates 2,000 make 12,000 I can charge the tenants 12,000 I break even I'm good let's invest >> and then you're missing like just like 6% annually is quite a big number for sure a body corporate I know a specific complex that increases their levies annually by 6% >> approved by the seven individuals >> that attend these meetings like you're saying they dictate what happens in the entire estate.

[00:19:58]>> So, you don't attend those things and when you're an investor, you come in there and you start making this mistakes and then you go, "Ah, property is not what they said it was cuz now you're you're making a deficit."

[00:20:09]>> Sure.

[00:20:09]>> Or or you're just the the the the the landlords, >> right? The landlord you bought for you to stay.

[00:20:19]>> Yes. Yeah. So, um, but besides but even besides that, we we're talking more of like the general couple, the general let's buy a home.

[00:20:28]>> Um, and I think the one thing misinformation has also been such a big thing. Like the idea of I when I when I buy property, when I own property, I'm going to be rich. I'm going to be wealthy. That's that's wrong. That's so wrong. Cuz you you you're technically going to be paying your bond, your levy, your uh rates, >> maintenance, renovation.

[00:20:53]>> All you're doing is you're paying where's the asset? Where's the income?

[00:20:59]>> So the idea of people, no, once I own it, it's fine. Once I own it, I'll be rich. That's that's the idea because I'm building wealth. I can rent it out. I can move out and rent it out. M >> you haven't done >> I have something five to 10 year plan >> no 10ear plan of what you're going to do with this property >> sure >> so yeah well I think yeah it is your experiences I mean when I mean from the time you bought your first one to like >> obviously you you I know you bought your first one you're not yet married been bought when as a couple you know it's just like like okay this is where we're going to stay what what have been like >> your thoughts around this >> my brother I hope I don't put you in hot water my wife is flexible to hear it don't say anything >> no no no my wife my wife has had all >> since we we we blew up the other time there's been so much that's been done >> she's involved in as well she's not like just you know and whatever she's actually involved in this.

[00:22:12]>> Very true. No, no, no. I I think um so one of the things u you're asking what has been my my thoughts around that.

[00:22:19]>> Oh yeah. Or how has your mindset sort of changed?

[00:22:22]>> It has definitely it has definitely changed. I think one of the things that we don't understand as people sometimes is that failure is the greatest teacher sometimes because you know someone says there's they said success success is a is a lousy teacher because whenever you succeed you don't learn much. Yes, >> of you know >> I mean I told you my my initial experience when I bought my first house exactly on the not doing your proper research you know is one of the things and remember and you're in the real in the realtor space >> agents wants to make money at all cost commission is the biggest driver I'm not thinking about >> is what's this guy going to eat if he buys at the wrong price because if the bank approves I'm going with him he's going to go to the they would take him to the cleaners afterwards otherwise I would have got him my money.

[00:23:13]I said when I bought my first one, my first house >> after having paid >> everything uh in terms of installment uh rates, levies, everything, I was left with a,000 rand to go through the month, right?

[00:23:27]>> Sure.

[00:23:27]>> Sure. And at least you alone. Yeah, >> I thought you said this was a great but I thought you push when I beat you. I was to doubt it's like >> what is this? Yeah.

[00:23:50]>> No. So, so I then had to learn from there. Oh, it's imperative for me to look at the aspect of affordability, all of those things. And I mean, how much um your bond repayments and your car repayments should look like.

[00:24:03]>> Sure.

[00:24:03]>> Percentage wise when it comes to your gross income that uh that 30% and >> you can use the >> how much is this supposed to look like?

[00:24:11]And just for the uninitiated, you know what I'm trying to say? Just to say, okay, >> yes, guys, you're planning to buy this house, right? Yeah. and and it's it's an exciting thing but look at this we all feel like >> I was paying rent >> 1000 >> 1000 >> so maybe I can afford this 10,000 board yeah and sometimes when you say I was paying rent you probably not even including the electricity >> where you rent so yeah just take us through that >> now I've almost given you a snippet of some but yeah so >> because exactly not what you're saying >> so I I try to say to people who are renting and people who are who are owners It's impo it's almost impossible to really give a proper comparison >> because as the owner you pay more that's most of the time the case you pay more because of you have other things you are paying for >> but also I say then one of the things that you get to enjoy is um the the the cost of ownership >> cost of ownership is the expenditure you incare but then you then get to >> uh to to to take advantage of the growth because the growth is due to you right and you got something to show >> down the line.

[00:25:22]>> The guy who's renting, they're enjoying the benefit of the use of the house first.

[00:25:28]>> Secondly, they probably are not paying as much as what this thing costs. Sure.

[00:25:32]Because somebody else is taking care of that. Now, that's if you buy Exactly.

[00:25:36]That's if you're renting a a new house.

[00:25:39]>> A relatively new house because of old houses. Well, >> the tenant the tenant is boiling there because >> there's what they call the rule of 72.

[00:25:49]The rule of 72 is actually when you actually have the growth rate of whatever you're investing in when you invest in property. For example, I was actually looking at the different growth rates in South Africa.

[00:25:58]>> Your property that cost a million it grows at uh the lowest rate is about 4%, your highest is at about 8%.

[00:26:05]>> So rule of 72 is actually you take 72 and you divide it by the growth rate.

[00:26:10]Let's just say to be conservative because of your 5 million rent houses, they grow between 5 and 10%.

[00:26:18]>> Um, right over 20 years.

[00:26:20]>> So, you could have a house that you bought for 5 million now um 20 years down the line worth about 13.2 million trapped to 36.6 million. That's 5 million, right?

[00:26:32]>> So, you can then take 72 divided by 10, let's just say 10% just to make numbers easy. That shows you how long it will take before that if you're renting that house out before that house becomes cash positive for you if you bought it brand new.

[00:26:46]>> Sure.

[00:26:47]>> Right. So that means >> you have seven years >> for that house to hit >> break even.

[00:26:53]>> Yes.

[00:26:53]>> And then you become positive.

[00:26:55]>> Right. So that means you will start at the beginning paying paying uh paying in. But then once you hit seven years then that property starts putting in.

[00:27:03]It's possible it could grow quicker, but you know that you actually can calculate your numbers. Now that's that's for the employer I'm for the employer now.

[00:27:14]>> That's for the owner. That's for the landlord. But then for the tenant, >> they are only so their enjoyment is the fact that I'm paying less than what this guy is paying and I'm enjoying the stay.

[00:27:25]But then 10 years, 20 years down the line, I have nothing to point at. But what then can work for the guy who's renting is to look at what should I be paying and what I'm paying >> and then I take that difference put it towards an investment >> right then that is going to help me that 10 years 20 years down the line I've got something to point it as well >> I've got a liquid asset that I'm actually looking at and it's because of this whole notion of >> you have to it's not it's not right >> because of it's us Africans actually who are stuck on that >> when you go to the European side of things. Those guys they most of them they actually rent for their lifetime >> but they invest in stocks and everything else >> and they become rich.

[00:28:08]>> So it's not a one-sizefits-all. There are different strategies, different things to get to the same to the same goal.

[00:28:14]>> So So what would you then say for that person >> who's coming out of that renting phase >> to then get into ownership? Yes, there are benefits especially um because it might be difficult to convince someone to say that let's get into stocks right >> especially the narrative of stocks in our country or some let's start a business or whatever it is rather than buying this house >> so so that might be difficult you might not be able to pull it off >> but >> what then should you make sure is in place >> okay >> to make sure that transition vision is smooth from being a renter to a property owner so that probably in 20 years you can show to say this is something that we have.

[00:29:00]>> Sure. Should I shoot first or >> Okay. All right. All right. Yeah. Yeah.

[00:29:04]All right. So I I have to say first because of I if you take it >> easy >> as a renter and you don't get the pressure firstly put money away >> right to first take care of your legal costs >> for when you are buying >> because those things just you know they surprise you right there and there sometimes you're like ooh because if you also don't understand the whole um threshold of uh um transfer duties and all of those things >> that will hit you in the mouth. Um because of you need to understand how those things work so that when you are buying >> uh because some people think after you've signed those papers this is it and the bank has approved. No after that after the approval and everything then the legal people come in and they say yeah it's time for us to do our job now and you're going to pay us for some of it because some things are taken care of by the seller and some things are taken care of by the buyer. So you need to make sure you know what those costs look like. So put money away um so as to make sure that you can have money to pay for legal fees. Number two, put money away so that if you can put a deposit, it eases up your monthly repayment on on the property and you can start off with equity in that property already.

[00:30:13]>> And one of the things that we forget, I think this whole thing of being addicted to seeing money as ours, I want to see it in my bank account so that I can feel it's mine.

[00:30:21]>> The fact that you've deposited it towards a a a a property, it's still yours. It's just that right now it's in the bank and it's in a different bank than your liquid, you know, um cash accessible um bank. So you have your deposit, you have your legal fees that makes your life easier so that when you then get to start staying in there, >> you can take care of other things rather than have to get worried about the fact that >> Yeah. Because once we're in, we're supposed to buy curtains.

[00:30:49]>> YEAH.

[00:30:53]>> Supposed to buy new stuff.

[00:30:56]Oh jeez.

[00:31:00]>> I got the m talk about >> and and that's one of the topics that you buyers normally go go go through because really it's one of the things that you know like you stay for months without curtains because most of the time you don't want to use the curtains you were using in the in the previous when they came when they when they saw us when they visited us.

[00:31:26]Except for the house, buddy. Yeah.

[00:31:30]>> So, what would you Okay, I >> actually agree with that. And and okay, to pick up from that, I think also I love his idea of if your strategy is renting, um put money away or invest.

[00:31:44]>> So, I look at it even from a point of the whole discussion about property and how it's wealth creation and how is it actually wealth creation.

[00:31:54]For instance, a family. For a family, I would assume that you want to look at a generational wealth strategy, right? So, I want to acquire as many properties as possible while I still have the capacity, while I still have the income.

[00:32:10]Um, >> I just want to get 10 properties. Even if I'm just building equity and I'm paying that extra thousand, extra 2,000 rand and I'm only making my yields seven years later, my return seven years later, I'm still fine with that.

[00:32:25]>> It could be used for that as a strategy.

[00:32:27]Um, you you know, generation, you can go on we I spoke about from from the previous uh podcast. So I spoke about insurance as well that um >> you know I found out recently as well that you can get a a a a um a retirement annuity for your baby.

[00:32:47]>> Okay.

[00:32:48]>> And it's literally you can get that from an insurance broker right now. So I had >> What you get?

[00:32:56]>> I had an idea.

[00:33:01]What you get for your baby, bro? That's Yo, that's like proper generational thinking right there.

[00:33:09]>> But it's Yeah, my financial advisor actually agreed. Yeah, it's Do you want it? Let's do it.

[00:33:14]>> Of course. What else can you say?

[00:33:17]But but but I was just saying for for the for the first time buyers, people who have been renters who want to now buy a home for themselves to stay in >> what other things you know for from what he was just saying should they make sure that they have in place >> like in terms of just to make the transition more preparation you just so that you're not shocked >> you know I mean >> and and you don't end up in in >> a mess >> in find a mess I was I don't know what's beyond the foreclosure rate uh uh these days, bro.

[00:33:52]>> Yeah, I know it's okay. In life, >> maybe not spec specific, but >> yeah.

[00:33:57]>> Yeah.

[00:33:58]>> So, I think the important thing is you're costing everything you do in life. Just budget. Cost costing is very important. You're preparing yourself for where you are.

[00:34:08]>> Do people even know where to look? I think >> I think you guys need to create like a tool like >> like a know how like like this is the cost where some people generally they just don't even look at they don't know.

[00:34:22]>> Maybe just to interject on what you said because Jel that is saying actually he's touching on something and I think we we giving a good answers. I I just think I see where he's trying to get to.

[00:34:31]>> Yeah. Maybe we actually need to get our people to also um own up to what they really can afford >> because we have to start there then we might say because some people I mean we our dreams are way beyond our means >> our dreams are what are way beyond our means.

[00:34:53]I love that >> because we all have this, you know, the end goal in mind. I want to stay in >> eagle eye whatever somewhere.

[00:35:02]>> Yeah, it's a good ideas at some point.

[00:35:05]>> Maybe not now. We go back to those um maybe measures that we should use.

[00:35:10]>> Your bond costs or your house repayment >> should cost you about 30% of your gross income.

[00:35:18]>> Now, each one of us then can at least calculate.

[00:35:21]>> Yes. Yes. Let's start there. Start there. If you are earning 100,000, 30,000 is what we are looking at.

[00:35:32]>> If you are earning 20, then we look at 6,000. Do not >> do not >> Yes. Because of True.

[00:35:39]>> Yes. Because the issue >> that's what's there.

[00:35:41]>> That's what is also when it comes to cars.

[00:35:45]>> Between 10 even when you stretch it 20% inclusive of everything. Now if you want a >> you don't want if you want a Maserati and you are earning 50 grand you are out of that's out of your league.

[00:35:59]>> Do not >> Yeah.

[00:36:00]>> So we are then giving people principles >> that they should use in order for them.

[00:36:06]>> Yes.

[00:36:06]>> Once they hear the price they quickly say before we even think about anything I can't afford. Let's go next door.

[00:36:13]>> Yeah. Because we can't keep giving people this thing of uh whatever you you can get whatever you want.

[00:36:20]>> Yeah, >> this is not our daddy's world. Well, it depends if you if you believe in God, but you need to work in order to get to the point where you can afford. But what we're talking about the reality here, >> use what you have access to >> in order for you to gauge what you can afford.

[00:36:37]>> Sure.

[00:36:38]>> And again, that looks differently for everyone.

[00:36:40]>> Yeah. That means each person in there's a thing that they say.

[00:36:47]So that means like uh you must know the state of your flock. Know what you can afford.

[00:36:53]>> Sure.

[00:36:53]>> And stick to that.

[00:36:54]>> Yeah.

[00:36:55]>> It it really boils down to that. And I guess even like I love the calculations you made there because um if you know that so you made an example at 30,000 as gross um call it what's the disposable income of 30,000 h call it 9,000 >> 9,000 and then you can afford a house between 900,000 to a million >> the first >> but I don't want to stay in that apartment.

[00:37:26]>> No, no, that's the problem.

[00:37:30]Here's another thing. Here's another thing. Here's another thing.

[00:37:34]>> You see, you see that one that I want to stay in that >> but I love that answer.

[00:37:41]One of the other the guy upstairs is like banging moving his couch.

[00:37:49]>> I love it. I want an apartment. So does does that mean I have a question. So does that mean I don't want to know how much my salary is? Hame mean don't tell me it sounds like you know what you know what you're saying really I think this podcasting space has become so crazy because exactly what you're saying one of the videos my don't mind surp in the making guys the in the making guys they posted something and I saw it by chance on Tik Tok.

[00:38:27]>> Yeah.

[00:38:28]>> And I'm actually I'm explaining these measures. I'm explaining these measures of 30%.

[00:38:34]>> And the other ones are like, you know, >> the other one is saying, >> you know, I I add 10,000 and 10% of that is 1,000.

[00:38:52]You're like, what kind of Like it's just funny and and the thing is people just get to that point where they're like the bond or anything.

[00:39:10]>> Yeah.

[00:39:11]>> This thing is approved.

[00:39:14]>> As long as it's but look at the dangers of that of people not willing to know what what they afford. Let's let's let's maybe look at just the first year. You're paying 20 year bond.

[00:39:27]>> You're paying interest throughout.

[00:39:30]>> Uh even the example we're making, the 1 million uh bond that you get your first year, you're paying about 104,000 on just interest annually.

[00:39:40]>> These are this is where foreclosures and all these things come in place and living beyond um uh below beyond your means, right?

[00:39:48]this variable interest and this prime there this variable and fixed interest right we've seen it back in 2021 >> the prime lending rate was at 7%. M >> m >> I just wonder it's one of the mistakes I I I should have looked at. If I fixed my my interest >> at whatever I got it for at that time and the interest kept on going up. Um I know now they've regulated it. Now it's going back again. But from 7% it was it went up to 11 >> Sure.

[00:40:20]>> Uh 75% last year or the year before that. So if you're paying, let's use 1% 7,000, you're paying 11,750, >> then where are you getting it from, bro?

[00:40:33]>> No, but for but now if you're refusing to do your calculations now based on what I've just mentioned like the variable and the interest, the type of interest we have, if you don't fix, okay, let me not say, let's not even talk about fixing your interest. Let's just talk about >> your calculation. If your your your salary is 30,000 rand >> and you managed with 8,000 per month, where are you going to get that extra 5,000 4,000 when the interest is now up sitting at 11.76%.

[00:41:05]>> Sure.

[00:41:06]>> Do you need a side hustle?

[00:41:08]What do you It's a genuine question like, okay, I want that apartment. Okay.

[00:41:13]>> No, we don't want that.

[00:41:15]>> We don't want it.

[00:41:17]>> And to his point, it's a reality. So, I'll make an example. One of the properties we actually had just before co >> Yeah.

[00:41:24]>> We were paying just about 19 grand.

[00:41:29]>> Sure.

[00:41:30]>> By the time they took the interest rates to the top, >> we're paying at about 23 2.

[00:41:36]>> Sure. 4.

[00:41:37]>> That's an extra income >> and exactly >> that you need.

[00:41:40]>> So that's why you have to be conservative. Again, you can't. So, that's why one of the things I'd say I say to property investors, >> if you could manage maintaining your portfolio when the interest rates are the highest, you can afford it.

[00:41:57]>> But if you couldn't, then you can't.

[00:41:59]>> Yeah.

[00:42:00]>> Because it's imperative because people don't actually and the South African market, property market is very sensitive to to interest rate. M >> so you have to calculate and be conservative that as much as you do this 30% calculation just look at what the interest rate is and just ask yourself if this interest had to go back >> up will I have >> let's just say it goes to 12% now >> justice >> exactly >> yeah but also there's there's also >> you know thinking that things will remain the same >> you know whether it's with your job >> or whether it's with with with your business right there's there's also that um >> thing we tell ourselves that >> things will be right. What sort of measures maybe can one put in place >> with with regards to that because things can change?

[00:42:47]>> No, I think the job one is I think the do get a bond in I know people when they do calculations they always try and run away from the the insurance that your bond originator would offer you. Um rather even the banks some banks will say no we'll give you this provided you take this >> insurance then you can sell 3 months after. M >> the people that literally do that. No, I'm trying to save cost.

[00:43:10]>> Then you cancel your other your car insurance. No, I'm trying to save cost.

[00:43:14]>> So >> what the the point I'm trying to get to is um for your question, but what if I don't know that I'll lose my job in four years or >> insurance is actually technically an investment because if you lose your job, your insurance will pay it out depending on what insurance you also got. What's your bond insurance? Is it going to pay for the next two years while you find a job?

[00:43:37]>> Find out what are some of these >> terms. Yeah. Like are you going to pay while you looking for a job? We giving you two years to find a job.

[00:43:44]>> You know, as an insurance company will pay for you for your bond so you still have the property. There's um you can look at um what's another risk? Um call it payment plan. Okay. If I can't if something happens, business is bad, whatever the case may be, I'm waiting for a contract. I know it might affect your interest as well, but there are payment holidays that the banks can actually grant you.

[00:44:09]>> Yeah.

[00:44:10]>> Um, go to your banker. I listen, this project is only paying in 3 months. I'd like a permanent holiday on this property.

[00:44:18]>> Chances are you're going to get granted something like that. So, there's there's stuff that you can look into. And this is, by the way, this is everyone is privy to this information. This is stuff that you can get. No, you don't need a consultant to tell you this. the things that you can get.

[00:44:33]>> Um, you can read it everywhere. Um, so let's stop running away from let's run let's stop running away from information and and and knowing what we're getting ourselves into. Um, yes, you can sit here and listen to us give you all the points about what to look out for. But remember, he he mentioned this as well.

[00:44:52]It's subjective. Everything is situational in property.

[00:44:57]>> The advice I can give you here, if you go and you apply it, it might not work still. Sure.

[00:45:01]>> Cuz maybe you got a tenant that's not going to pay rent for 3 months and you've taken this big risk >> and now you have to pay the lawyers, you need a summons, you need the court process and this 6 months later you're wiped out.

[00:45:17]>> Subjective.

[00:45:18]>> True.

[00:45:19]>> So a a property is sensitive. It's also your most expensive asset that you would invest in. M.

[00:45:25]>> So, I wouldn't really say I just want that in something where I know it's either I'm paying a lot for it or I'm making a lot from it, >> you know.

[00:45:34]>> And um yeah, maybe I'll give you >> Yeah. No, no, you're raising a valid point. Um again, it goes back to the why for me. I think the why matters way most uh over and above all the other things, gimmicks and and all these other things because >> if you understand why you're doing it, >> it actually it eases up most of whatever you're going to do. That's why I mean >> again >> if you decide to invest in property and you are investing because >> you know you can afford now and this is a mitigating factor for your taxes. For me that's that that makes sense. So >> my strategy is going to make sense to me as long as it does that >> but for somebody else they would be frustrated >> out of their out of their minds if ever they had to see what I have to do in order for me to keep going with what I'm doing because for them they're like >> this doesn't make sense >> and it won't make sense because their why is different but then we go back to the risks >> then the risks have to be taken into consideration for sure because Um if ever you lose anything again it it does go back. The protection aspect here I think >> protection also being a taxdeductible expenditure for me always works.

[00:46:56]>> Anything that I can because money making is not only when I see money coming in >> only when I'm doing money saving.

[00:47:02]>> Sure.

[00:47:03]>> It's the same thing when you buy a property at less than at less than market value.

[00:47:07]>> There's saving there.

[00:47:09]>> You are spending but you are spending less. Yeah, >> you get my point and it's actually going to later. So with that with that buying before below market value >> how the uninitiated uninitiated right who are trying to just >> back to my couple back to my couple I'm serious about this couple >> you know would even know that this is this is this is below market value let's say when they starting out like how do you know that okay >> this is overpriced >> because I think we we all have our suburbs that we want to stay in we all have got you know and we've got okay specific sort of place where you want to stay right home community whatever it is >> I want to stand alone I want whatever >> how do you know whether it is you know priced above market value or below how do you know that you're making a great deal because I think they say you know with property you make money when you buy >> yeah well a whole lot yeah it's a whole lot of things but >> another people just say how you you make money when you buy whatever but but maybe just that >> yeah so that I don't go off but yeah we have to talk about these bars everything cuz everybody's a tagline these days where you're like sometime like that's not true but anyway yeah so um yeah there are there are different platforms you can actually get the values of the houses actually even Standard Bank now has introduced what lookie there's something called >> oh they've got a valuation calculator yeah so you can actually punch in the details of the property they would tell suburb.

[00:48:45]Yeah, you just punch in the your property details. It shows you um what the lowest and the highest um that they actually looking at the range. Also, your municipalities also they actually evaluate your your properties.

[00:48:58]>> The areas might be different. Uh you have your is it light stone? Light stone.

[00:49:03]>> Yeah, they've got reports there. You can actually go and check uh winddeed >> winddeed >> experian. Uh yeah, there's quite a number. So you can actually look at those and see the ranges of what that private that property costs. Um then if ever you get to a place where it's way below any of the two prices then you are winning.

[00:49:22]>> Yeah.

[00:49:23]>> Wow.

[00:49:23]>> Yeah.

[00:49:24]>> And just to add on to uh maybe so I I'll say this from a property practitioner's point of view, right?

[00:49:31]>> That couple that's looking at buying property and what should they actually look out for, right?

[00:49:38]Ideally, every property that you want to buy, you chances are you'll go through an estate agent.

[00:49:43]>> Sure.

[00:49:44]>> Okay. So, that's the first thing we need to consider.

[00:49:48]>> There are a lot of estate agents, bogus estate agents out there.

[00:49:53]>> There is Kona say scamming people. He said it earlier. They're chasing commission.

[00:49:57]>> They will not help you with valuation prices and whatnot. The seller wants >> they just want to please their seller.

[00:50:04]>> Seller wants this. And unfortunately my commission is is part of this agreement.

[00:50:09]>> Do you think some will even tell you that the seller go down because of their commission?

[00:50:12]>> They they won't they like spec if you ask them would they say ah the seller won't go down and because they're looking out for their commission.

[00:50:21]>> Chances are when you know I always prefer a seller and a buyer to meet directly.

[00:50:27]>> It makes life easier.

[00:50:28]>> Sure.

[00:50:29]>> Yeah. There's some agents out there who are also marking up. Oh. Oh. Oh. That's crazy, right?

[00:50:35]>> No, it's it's it's real. So, >> um, for a buyer that's going up there, I think start just look at the property practitioner in the area that you're looking. If it's Medran Santin, whatever the case may be, um, the best way to vet an agent is to just go on the PP website, >> property practitioners regulatory authority. You can Google that. Search for the agent's name. Let's just start there. Are they actually qualified to do this thing?

[00:51:06]>> Do they have a fidelity fund certificate? If the name appears on the website, then you know you're dealing with someone that knows what they're doing.

[00:51:13]>> Sure.

[00:51:14]>> That's step number one. Step number two, are you dealing with an intern rookie sort of agent?

[00:51:21]>> Mhm.

[00:51:22]>> Or are you dealing with an experienced seasoned agent?

[00:51:25]>> Yeah.

[00:51:25]>> Okay. It's important for when you talk about valuation. It's important >> because a rookie agent will and this is not speaking down on rookie agents. We all start as rookies.

[00:51:37]>> You know, we are told the this is how you evaluate properties.

[00:51:40]>> They just look at the average uh price of every property in the area that's sold.

[00:51:46]>> Okay. Banks are willing to give 1 million in this area. Okay. Chances are I'm going to list that house for a million. Obviously, there's factors that the buyer might want I mean the seller might want 1.5 million because they have inverters and they have this and that >> houses which have been owned by engineers.

[00:52:05]>> Those houses but they're nice.

[00:52:10]>> Yeah. So, um so, so yeah. So, it's important to know if you're dealing with a seasoned agent or you're dealing with an intern. And by the way, you can still give business to this to the intern.

[00:52:23]>> Uh but you want to make sure that the intern at least has a supervisor >> because then the seasoned agent is able to get get you a property at the right price.

[00:52:33]>> Sure.

[00:52:34]>> Uh when we talk about seasoned agents, he mentioned um I know sometimes municipal valuations you have to object some of you know government people sometimes they don't do their work. They just put the valuation amount there.

[00:52:45]Then you look at the actual valuation amount is far off. Yeah.

[00:52:48]>> So sometimes they can be inaccurate, sometimes they're accurate. So the nice thing about a seasoned agent is they'll be able to look at so when I say seasoned agents, I'm talking about NQF5. So they've done an entire course on valuations.

[00:53:04]>> So they know how to evaluate a property.

[00:53:06]Uh they know how to charge per square me. M >> so they will be able to tell you even if you go to the bank and you submit this offer you'll get rejected because they'll send a bank valuer who they'll give you an an approval in principle yes but they'll still send a bank valuer to assess the valuation of the house and if the agent gave you this price they'll probably reject it if that's not the actual valuation of the property.

[00:53:29]Sometimes rejection from the bank comes from simply just it's overvalued.

[00:53:34]>> And guess what? If the owner still wants that 1.5, the the deal is going to it's not going to go through >> regardless of what the bank says about the area.

[00:53:43]>> Yeah.

[00:53:43]>> You know, so um you sort of want to work with a seasoned agent who'll be able to take you through uh the area with the right amount as you view. At least that still puts you on par with your budget.

[00:53:56]M >> then the the third important thing is let's move away from property practitioners I'm sure you'll know you even on P24 it will there's a calculator there you can work out how much will I pay on so if I'm buying a house for a million rand transfer cost and bond costs will cost about 8% so call it 60 70,000 rand in total you know okay you've done your math there I need to have just that amount in case the banks don't give me up to8 8% on my bond approval.

[00:54:29]>> So what do I mean by that? You can usually mostly it was in fact not even usually it used to be 10% you must take you must pay 10% towards the property as a deposit >> to get a successful approval from the bank. I'm talking about back back. So over the years bank are now saying actually we will cover your bond costs and your transfer costs >> and your h your admin costs. Basically they'll cover everything. It's like a balloon paper.

[00:54:57]>> You see, I said, "Let's not get too technical.

[00:55:01]Let's not get too technical."

[00:55:07]>> So, you want to get technical?

[00:55:12]>> You know, so yeah, but but essentially some banks will get will go up to 108% and basically basically you move in without paying anything.

[00:55:20]>> When when will you pay though?

[00:55:23]>> You're always going to pay. Yeah.

[00:55:26]>> Yeah. So, yeah, just do your calculations there. Go on P24. There's a calculator. It shows everything.

[00:55:33]>> Then you know, okay, more or less I can afford this. So that you're not shocked when you get a statement from the attorney. How >> I wasn't told about your your rookie agent didn't tell you, but I wasn't told about uh these costs. I I didn't anticip I knew this transfer cost, but I didn't think they were 70,000. Where am I going to get that money from?

[00:55:50]>> Sure. So you you want to prepare yourself.

[00:55:53]The the last point I want to raise with preparation for property ownership is the how long the process actually takes.

[00:56:02]>> So it can take 3 months. I know now the conveyances can be quicker. These office is behaving these days but it can take up to 3 months for registration to happen. M >> now in that process now um there's there's one thing that a renter needs to consider. So if this process going to take me 3 months I still need to be paying my rent here for the next 3 months or whatever. Don't rush and place a notice just because you've signed >> we are out of here.

[00:56:35]>> Yeah. Thank you.

[00:56:38]>> We're out of here.

[00:56:39]>> Don't rush into placing any notices.

[00:56:43]stick to the costs that you uh so lifestyle costs stick to those costs so that by the time you move in at least you know you've prepared a bit of savings for your your startup costs so furniture curtains and all of these different things so start start preparing for those costs in within the 3 months period then honestly if you do some of those things I mean I might have if I might have skipped a couple of things but if you do those things honestly it will seem very similar to own property um it won't seem like this narrative.

[00:57:16]So, I'm protecting my industry.

[00:57:18]>> You know, there's a lot of scammers out there. That's true. There's a lot of scammers. There's bogus agents. There's a lot of um uh people being sold products and not told like the commission stuff or or what or the bond originators or whatever the case may be there. Those things are really there.

[00:57:35]So, your question earlier, but why is everyone it's a hot topic. Everyone is talking about property ownership. Yes, it's a hot topic and it's just that it's unfortunate that majority of the people are going into it unprepared >> and now it makes it seem like it's an industry full of >> scammers.

[00:57:52]>> Scammers or it's a negative.

[00:57:54]>> You'll build a lot of world property.

[00:57:56]>> Sure.

[00:57:57]>> All right. Cool, man. Uh just in these last minutes that we have uh just anything else for >> for a couple you know that might have left left out. uh even even things such as you know where to know where to know where to buy what to look out for right when you in terms of okay >> what's going to happen with the suburbs I know you've bought a lot of you know properties which have appreciated in value because of simply the location that you have bought in >> but also there could be you know some threats external threats that you may not be seeing things like that >> no that's true so I think it's very imperative for one to do their research in terms of what's happening what's going to happen in the area go get town planners get get people I Anyway, but there's >> there's a there's a big a big plan uh I think uh just now forgetting how many thousands of houses that they actually want to build just around Joberg.

[00:58:49]>> Wow. Um and I think it's actually I'm not sure if it's going to be connecting the waterfall side and >> Oh, yes. Yes. Yes. I know.

[00:58:57]>> Yeah. So, there's a whole lot happening and these things don't just happen.

[00:59:01]there's there's normally planning and people need to find out what are those plans looking like.

[00:59:06]>> Um so that what you're going to invest in you want to look at a pro at a an area that's still developing >> because a a saturated area then kind of plateaus >> and then now growth there is a problem now. But if you actually go into a space where there's still new things that are going to come uh then those houses quickly grow in terms of uh in terms of value also more amenities gets to I mean whenever you buy a property close to where they got to build a hospital, build a police station, build a school, build a all of those things a mall >> that definitely >> you got something close to Kami >> before the time we're right next to >> started like really buzzing now. Now Paul win is >> No, but he's still going to char.

[00:59:50]There's the Grand Prix coming.

[00:59:53]>> Literally, >> put it on Airbnb.

[00:59:56]>> Put it on Airbnb.

[00:59:58]>> I'm telling you, it's a walk to to the racetrack. So So it's always key to to just have those things. Um and there's a whole lot of things. So you just want to make sure that you're not um getting into a space where you're going to cry. Uh, and I the one time the one time I'm going to mention Timach here he was crying that I think someone played a number on him in Dane Fan because >> he bought in Dane before Dane fan square.

[01:00:29]>> Oh, >> for me I'm like >> that must have been a hot property. So why would you? because he says 10 years later, he still had to sell it less than what he bought for after Dan Square was built.

[01:00:43]>> I think again comes back to the aspect of the the agents >> um because of they must have played a number on him >> definitely >> because of if you could actually get >> that close to Dane Square. Yeah, I mean I see deep slot is somewhere there. Uh but it's not as close. You still also have the hillside which is Riverside you know how the parks really got Pinnacle. You've got So you've got quite a lot going on.

[01:01:14]>> Things are happening. I mean even new new fast food uh places there like things are happening. There's an office park when you drive around the park. So >> I I I feel it and it must have been a significant one because I mean you can buy >> so you probably bought it over very way because at least it should be because after 10 years at least you must have even if you bought it at an overpriced but you must have recovered >> but something is Yeah.

[01:01:40]>> But you also had a situation where there was like a squatter camp or something.

[01:01:44]>> Oh no no no. So hey listen we're thankful we didn't buy there. Yeah. So we No, no, no, no. You went to see everything.

[01:01:55]>> Tachfield.

[01:01:56]>> Oh, Tfield. I know.

[01:01:58]>> You would probably know this, bro. You know where Juro is at. Yes. And I mean, and the funny thing is even today cuz that was before I came to Jobeck and stayed in Jobec when we went to view that place. And my wife didn't know much about the place. And you know what? You know, God works in in mysterious ways.

[01:02:15]>> It was on the day before we could sign a an offer to purchase. This one time we're leaving this property.

[01:02:21]>> Sure.

[01:02:21]>> And we're leaving the whole complex.

[01:02:23]>> Yeah.

[01:02:24]>> But when we stand on the T junction because we're waiting for the robots to g to to get green. Yeah.

[01:02:28]>> You know, right in front of this there's some small hill up there.

[01:02:32]>> Sure.

[01:02:32]>> Something makes me look up there and I'm looking up there. And there are people walking >> and it looks like there's a wall, but then there are people walking >> on top.

[01:02:41]>> On top.

[01:02:41]>> Yeah. On top.

[01:02:43]>> Every investor.

[01:02:44]>> So I'm thinking, >> yeah.

[01:02:47]>> What's going on there? Yeah.

[01:02:48]>> And I say to my wife because it's difficult to see far from the left. So I'm like to my wife, n because we're going to go up the highway and we're never going to see what's happening until >> we take a left literally just at the end of that complex.

[01:03:02]>> It's like it's the township, right?

[01:03:07]>> Was just crossing my fingers, man.

[01:03:10]>> One more crossing her fingers. One more day my commission. We pulled out even today that complex is still selling.

[01:03:18]Like that's over 6 years.

[01:03:22]>> People are still buying. It's probably for people that are transitioning from.

[01:03:24]Yeah.

[01:03:25]>> Sure. J. Wow. Man, this was this was awesome, man. Thank you guys, man. Value this, man. Share this video. But thank you guys for for coming through. Where can the people get you, bro?

[01:03:35]>> Um I win on all platforms, website, you name it.

[01:03:40]>> Um website, business company. So Batalia >> on all websites and um SAPA this the last one that's where I'm I'm very passionate about it's a NPO one of the NPOS's I have there uh that I run um South African Youth in Property Association.

[01:03:57]>> Yeah.

[01:03:57]>> Yeah. So that's me.

[01:03:59]>> Awesome. And yourself bro?

[01:04:00]>> Yeah. Okay. On my side Monday and on tanger across Facebook uh Tik Tok uh Instagram. Yeah. Do you have any financial literacy conferences, seminars coming up?

[01:04:12]>> Okay. So, I had planned I had something that was planned at the beginning of the year just that I'm also my website is the one thing that's actually um holding that thing back right now. Uh but it's actually under construction. So, once we're done with that, we probably going to put out more advertisements, but uh not at the moment.

[01:04:28]>> Probably a month or two. Yeah.

[01:04:29]>> Awesome. Awesome, guys. Thank you very much, guys. Thank you guys for watching, man. This has been awesome. Awesome.