How to purchase your first rental property in South Africa| Credit score, affordability, home loans
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- čas přidán 23. 07. 2024
- Hi Everyone! Today we talk about things you should consider when buying a rental property. Let me know in the comments section if there is anything else you would like to know - and please do not forget to subscribe to the channel. Key things to consider include:
1. Credit Score
2. Affordability
3. Area & Location
4. Viewings
6. crunching the numbers - is the property cash flow positive?
5. offer to purchase
6. funding
7. insurance
Top 5 reasons why you should invest in property? - • WHY SHOULD YOU INVEST ...
You can use the links below to access platforms to check your credit score
Clear score - www.clearscore.com/
Transunion - www.transunion.co.za/
You can check out the TPN property reports available below:
shop.tpn.co.za/Product/Catego...
This channel focuses on all things property - breaking down all the property terms and practices in a relatable and simple way. Anyone can be a property investor, join me on this journey as we learn, engage and unlearn the property investment world.
Please note that none of the information shared in this video or my Channel constitutes as financial advice - if you are looking for financial advice please consult with a registered professional!
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SOCIAL MEDIA LINKS:
linktr.ee/PropertyTalkwithYolz
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This video was very informative.. Also I believe these tips apply not only to South Africans but Namibians too.. 🙌🏾🙌🏾🙌🏾
Most definitely! thanks for watching friend
Thank you for the amazing video,I got a more of a understanding
You are welcome!
Thamk you Yolz!!
Thanks for watching 🙏🏽💜
So informative, thank you so much
You welcome! Thanks for watching!
@@PropertyTalkWithYolz you welcome 💖💖
OMG! I was literally running numbers while watching. Thanks so much for this yolz.
Yes sisi doing research and working out the numbers is such an important step! So happy 😀
Beautiful video ❤️
Thank you princess 💜
sooo informative
Thanks for watching Bongi. Hope you learned something
I saw the notification while I was in the meeting. This video is soooo informative as I moving into this space, the airBnB side. Thank you so much for this video Yolz. Keep up the good work and congratulations on your fast growth.
Thank you for the constant support I really appreciate it. Glad you found it informative 🙏🏽😉
Your videos are so good and informative I love this. 😊 Would you be able to advise a foreigner making an investment in SA. Is the process the same?
Hi Dear please Would you kindly share with us list of goodbooks you read and seminars you went about property investments.
Please 🙏
Thank you so much for watching :) A book I definitely recommend is Jason's Lee "making money out of prooperty in South Africa" it covers all the basics you need to consider when investing in property. Good Luck :)
This is very important and so much clear because I get to read about this but the understanding is not as much as I am getting from you.
You make it so easy to grasp and it's very interesting. So Yolz last if not first video you spoke about 100% home loan and I did not hear about the risks one puts themselves with a 100% home loan. Do you advise that 1 must take 100% bond? and I would also like to know about the Life covers that gets attached to your bond?
I would like to know the risks of 100% bond and the life covers that gets attached,where does it live me and my kid's when my Life covers are attached? Life is unpredictable and what can 1 do to cover those unforseen circumstances such as loosing a job and be injured to a point that they cannot work anymore and you have this 100% home loan.
The cash flow is it stopping when such incidents happen? I would love some clarity on those key points for me.
Thank you for this educational journey you embarking on and I wish you more light and growth 😘
Hey babe - taking out a home loan means that you carry the risk of paying off that debt as long as you still have the home loan - life cover becomes important if you are planning on leaving that property let’s say for your kids and you want it paid off when you are no longer here - but also if you own property it’s advisable to have some sort of an emergency fund to help you if you come across difficult times ( retrenchment etc) so that you are able to continue paying off your bond. Another event that be a risk is your tenant not paying or having a vacant property with no tenant - you will still need to pay the bank so again important to have emergency funds for these cases. Hope that’s clear
🔥🔥🔥🔥🔥🔥🔥
Ulwazi osungiphe lona lizongisiza, ngyabonga, iNkosi ikubusise
thank you for watching buti
😳😍😍😍
I found this INCREDIBLY educational. I have learnt a great deal! Everything is ALWAYS negotiable , love that. Quick question, on your point of location location location: you mentioned that we should consider places that have potential for development. Would these be emerging estates in the country (JHB, CPT, DBN) ? Like Balwin Properties , Uvest , etc... or would you also recommend stand alone houses in certain suburbs, if there’s malls and developments happening around that suburb? I hope you get my question 🙂
Hey sis, what’s important is the location not whether it’s an estate or stand alone house - as long as the property has a cash positive cash doesn’t doesn’t matter the type of property really - also just be careful of new developments and they are normally priced too high abs hard to negotiate - your chances of getting a positive cash flow on those is very slim but then again always your do research. Most important.
Yolanda do you do private lessons ??
Pop me an email and will take it from there - y.katsha@gmail.com
The property I’m currently renting in, is about to be up for sale and the agent wants to gives me dips on it for 600k. I’m trying to see if I can negotiate to 550k.
You can definitely negotiate it even lower so def go for R500K!!
@@PropertyTalkWithYolz wow 🤩. Now for me to check my credit score. The bond originator wants my details in order to do a check.