All Forum Posts by: Willem Botha

Hi @Richard Bull

For what it is worth, I am visiting the USA from South Africa and they (Midsouth Homebuyers) is one of my scheduled visits. Will start investing with them after the visit in June - Seems to be a good provider and had some fast and effective communication with them.

Hi Pieter, at the moment we are way below the 1% "target" here in SA. The average townhouse or small house in a reasonable are will cost approximately R1 to R1.3 million. Rents for these units will be in the region of R8k to 10k - With interest rates at 10.5% the bond alone will kill the rent income and then you still have property taxes and all the rest (Vacancy, Rep etc.) - You need to look hard and far to get a deal with positive cash flow (bonded).  

Regards, Willem

Hi @Pieter Bosman. I am in South Africa and can probably assist with any specific questions for the South African market (not many positive cash flow opportunities here). I am busy saving US$ to buy in the US ;-). Good Luck. 

Hi @Jedrick Theron, Unfortunately there is a lot that is not relevant for South Africa but there is a ton of principles and brilliant ideas to learn from, adapt for South African opportunities and execute. I highly recommend the BiggerPockets Podcasts - you will learn a great deal by listening to them. The biggest value here (in my opinion) is to listen and lean from others and see what you can use in the local market. 

Feel free to PM me with any specific questions.

Regards, Willem

Hi Dean

I have done a few deals over the years in South Africa. I am more on the buy and hold side of things but will gladly give some suggestions where I can. 

Do yourself a huge favor and listen to all (if and when possible) Bigger Pockets podcasts. The information is excellent. Although some of it is not applicable to our South African market you will learn a lot. 

Exit strategies is extremely important (I burned my fingers there on a fix & flip).

Feel free to PM me if you have any specific questions.

Regards, Willie

Hi @Laiken Brown

I am in Gauteng and could probably of some assistance to you. I own a few properties and also did a flip or two. Remember we have a few other challenges in South Africa which include capital gains tax (if this is not your primary residence).

Feel free to PM me or contact me with any specific question.

Good luck - it is still the best option towards financial freedom.

@Sarah Lam a quick thank you from me as well. It is invaluable to get this kind of feedback regarding your ups and downs dealing with the Turnkey provider and PM. Since I am an foreign investor I also decided to go the TK route and will visit the US at the end of Dec 2017, interview providers, look at property and pull the trigger on my 1st overseas property. 

I know (and hope) most members are trying to be helpful and warn against the pitfalls but is sometimes does seem that the seasoned investors forgot how they started, got lucky in the beginning or had the opportunity to start in more favorable conditions. 

What is important for me is the fact that you did your best to pick the right provider and market, you are willing to give the details here for all of us still in process to learn from your experience. To get back to something like the rent warranty (now being made out be be a possible problem). If you have to choose between a warranty for your new car (that should not break - because it is new) would you take it or make it out as something bad because the manufacturer supply bad cars? - NO - you take it and say thank you. - Same applies here - Take it, use it and say thanks to the supplier willing to offer it.

Again thanks for your updates and willingness to share your journey.

Good Luck and hope there is many more TK properties to follow.

Hallo Wihan

I am from South Africa - Gauteng (Centurion). Feel free to make contact if you would like to chat.

Regards, Willem

I cannot help you with an answer to your question but need to say - WELL DONE!!

Very interesting to see all the comments and suggestions. I am a rookie foreign investor and will most probably start of with turn key investment. Since I am no way near my potential investment I do not have any preference of state (at the moment). 

Thanks for all the valuable information, I will keep on investigating and get the ball rolling as soon as possible.