Ronel Talks Money: Property Investment Journey
Nqabenhle Manana, a Chartered Accountant with a corporate career read the book “Rich Dad Poor Dad” by Robert Kiyosaki and that inspired him to start investing in property. At that stage he was R600,000 in debt and had no money to pay the bond instalment for his first investment property should he not find a tenant, but he did… and he quickly realised he could achieve financial freedom if he could replace his salary…
Today he still enjoys his corporate career as an asset manager at Growthpoint Properties, but he personally owns more than 100 investment properties, mostly in the Johannesburg CBD. In this Ronel Talks Money show Nqabenhle shares his amazing journey and great tips for aspiring or existing property investors.
A few of the questions we answer in this interview:
- Tell us a little bit about yourself and your journey before you started investing in property?
- What made you decide to invest in property?
- Tell us about the first property you bought.
- Why the Johannesburg CBD?
- How did your journey in property evolve since that first property?
- Accountants by nature are more risk averse. How did you overcome that initial fear?
- How do you mitigate risk in the property world?
- Would you say your background / knowledge in finance and tax make you more successful as property investor?
- What is the most important calculation to do to ensure a property deal will be a good deal?
- Do you make use of external funding? If yes, what advice can you give to other investors?
- What was your biggest property mistake?
- You established the Masibambisane Property Fund 1 about 5 years ago. Tell us more.
- Do you also invest in any other asset types?
- You can make a living from your property portfolio, but you still have a day-time job. Why?
- What is your advice to people who would like to start investing in property?