Rental Property is not Milk and Honey| BUKA DATA APP
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- เผยแพร่เมื่อ 20 เม.ย. 2021
- In this video I look at Rental property as an investment - I am really asking myself what's the best way to do this. We partner with a Data incentivised Mobile App called BUKA. You can watch content and ads and earn Data.
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I’m glad you’re spitting truth in this video, a lot of people oversimplify and romanticize this investment/rental property thing, until you go into it and the process of premature aging starts...fast!
😂😂😂
🤣🤣🤣🤣🤣 best comment!
Lol definitely ain't for the faint hearted 💯🤙😅💛💓
😂😂🤣🤣🤣🤣 the process of what?
😂😂😂is it that rough?
R2.7m Nicollete? Jhoooo nkosi yam. When I grow up I would like to be like you and more!
I think buying property in the township is the best profitable way. You wont need agencies. Rates are low, its easy to market any business. You can also buy an RDP house for R120 000 cash and make a profit of R5000 a month. Imagine selling all your properties, take that 2 something million and investing ekasi. You will be more profitable.
Plus no Levies ekasi... I think l will look into that...
True💯
RDP before the lapse of an 8-year occupancy without the permission of the Department of Housing. Should you want to ‘sell’ your house during this initial period, it must first be offered back to the State. Do note: you won’t be paid for your house because low-cost housing isn’t meant to be a profitable venture. However, you will be eligible for another RDP (if you still qualify).
Once the 8-year period expires and you wish to sell your house, preference must be given to the State first. Your house can only be sold to another party with written consent from the Department of Housing.
According to recent articles, the Department is working on what legal actions they will take against a beneficiary should they try and sell the house illegally.
So basically its impossible to buy a RDP rather put an investment directly for land but still it's still something unsustainable if you working it like a business, you are only going to get the investment you put in literally after two years then you making profit. Meaning you will be broke for two years bro.
True
@@masiitrades9502 what's her number?
Thanks for the honesty. Yes managing it yourself is tricky. Agent management reduces stress and your profit 😅. In life you have to choose high income high stress or less stress less income.
Facts💯good team is key 👌💚💓
Hei scam, I have been managing my 2 properties, the stress of collecting rent, I was thinking of appointing agents but wow, am good
You forgot to mention that SARS will tax you on the rental income you receive. Which is another added expense. Great video
Good point!
Didn't she mention it? The levy is some form of tax right?
@@matomedjmalatsi9260 she mentioned levies paid towards the Body Corporate. SARS charges tax on your rental income which is separate from your levies.
@@Bhekani33 ohw okay thank you for the clarification 🙏🏼
💯 So true, good point 🤙❤🧡💛💙💜💚💓
Totally agree!!... please do a video on eviction of tenants... cant get rid of my tenants that are not paying their rent
😣
Ahhhh I have so much experience. I have evicted two tenants. Its not easy but following the legal process pays off. I will definitely do a video
Yessssss🙏🏻🙏🏻🙏🏻Especially if it's a back room situation ko kasi
I don't know if I am the only one seeing this, but there's an account that keeps on replying to people's comments. The name and profile picture are those of the "Financial Bunny". Please be vigilant, it might be a scammer.
Completely admire your work ethic and everything that you have managed to accomplish as young as you are💛
You always share such valuable content, thanks Nicolette. We are about to go into rental property and I've picked up so many gems in this video 👌🏾
I think property management should be considered if you have many properties. Like if you own a whole flat with like 50 apartments in it . Imagine being stressed by 50 clients 😳.
Facts💯👌😅💚💜💙💛🧡❤💓
🤣🤣🤣
#Nicollette come this way... Looking all gorgeous...
Yoooo😅😅wa mpolaya shem 😂. Thanx for your frank vlogs. Very informative 👌🏾👌🏾
Very informative, again appreciate you giving us these tips and insights.
I have been managing my one property for the past 9 years. First 12 months I used renting agents. They charged way too much up to a point that we were changing tenants every two months because it unaffordable. By direct renting I am saving a lot of money which I use for maintenance. I have never had bad tenants. I do proper screening service that is offered by private property24.
Property is not a get rich quick scheme. What is good is that, it is paid up so everything is just my added income.
Yeah, you will reap benefits long term 😁👌💜💛💚💙❤🧡💓
I've been doing research into rental property and I must say, it's the first time I'm hearing of a placement fee, thanks for the heads up
Solid advice. Thank you.
Thanks Nicolette for another great video. U can consider investing in listed property via ETF or unit trusts. Alternatively you can invest directly in listed real estate investment trusts via a stockbroker.
I do, my problem is psychological. Paper assets make me nervous.
Facts, indeed an option to consider 💯🧡❤💙💜💚💓
@@FinancialBunny do you have any different thoughts now that this is 8 months on and what do you think of the new easy equities property invest?
Nicolette I appreciate your content. First time I ever had money for 31 days after month end. You are the best coach
Very insightful, thanks for sharing 💯👌❤💛💚💜💙🧡💓
Interesting 🧐 indeed, especially because many financial gurus advocate for property investments. But definitely appreciate the honesty and realistic view so we can manage our expectations.
You're glowing hle 🤩....also plug us with that skincare routine
Thanks for this video. What is the incentive for keeping an agent to manage your property when you are well versed in the rental market. I understand why you would use them for placement but thereafter are you really getting value from them? The one bit not mentioned here is the appreciation of the property. Just to remind everyone that the R2.7m is no longer R2.7m, it has appreciated and could be significant depending on the location.
Been watching M5 property addicts. They had good advice. And eviction agency of sorts
Absolutely love this channel. Thank you for speaking with so much clarity and being accessible. Please may you do a video on how you were able to buy properties for cash or plug a link if you've done one already?
I love your honesty, I am looking to buy properties for investments and got this video
Oh nice, thanks for the insights 💕🌸
Thank you so much for the realistic views. I am also about to enter the rental market as I want to purchase property for investment. Being a first time buyer, you really stress over so much because real estate agents dont lay it down for you when viewing the properties. This process is not easy at all, so imagine the stresses that come after purchasing the property. Thank you for laying those down.
Listen, I was very impulsive in my buys. I don't regret it but I would like to optimise my choices
@@FinancialBunny it's really difficult because I dont know what's right and what's not. I dont know what to expect. I dont know how to even start finding a good tenant and I dont know which location is good or bad. I have been eating up my thoughts for the past year but I hope doing more research will help. Thank you so much Nicolette. Iv been reading your book by the way and I'm telling you, I live up to every advise you give in that book. Love it.
I'm an estate agent so I know what she's talking about.
It is important to have different streams of income and a diversified portfolio, I’ve already invested in crypto which is very profitable
Bitcoin is the future investing in it now is the wisest thing to do especially with the current rise... for real it’s very profitable
I agree on your opinion , generally I always look out for it to dumb so I can purchase some more truly I believe it has come to stay
What's really the idea behind this bitcoin investment anyway, because all I do is buy when it falls and sell when it goes high
Relating Bitcoin investment to forex trading definitely means they are risk involved, and just how do you take appropriate risk measures
@Buell Donna you sound like a professional
Already downloaded the buka Data app 🙌🙌✨ great content
Hi Nicolette. Could you please share how you managed to buy three properties cash in one of your next videos? I think that would be really helpful for where I am currently 😊
Thank you 🙏🏾
So.... I recently bought my first home and I did everything wrong😂😂😂 anyways its been almost 3yrs now and the excitement has worn out but the reality is, I may have bitten more than I can chew. On the plus side though is that my property is quite big and I'm thinking of building 2 cottages and renting them out.... Issue is I do not have the finances to sponsor this project and my only option is to get it financed by the bank. Is this a good idea or not? Please kindly advise and thank you for the wonderful channel!
Great video nicollette thanx for sharing, so many ppl glamorize rental properties as he holy grail of investing but not alot off ppl tell you about the cons of invest in property, plz do more videos on this topic its one that I would like to learn more about
Neither do they tell you about the highjackers 🤦🏾♀️ one day you get rent then boom, no rental income. Property highjackers took over. Gosh
Property is a good investment if Yu buy land and get a developer to build an estate for you. Remember, the flats have a mark up price already by the time you buy it. So if it the owner 200k to build, he will sell to you at 400k so tht is why you don't make tht much profit
So true!
I haven't seen the need for a letting agent yet. Have my own systems to manage my tenant. But I have been blessed with good tenants thus far and they have stayed long term. But good weighted advice.
Which systems? We are struggling SOS
Nyaa mma ba go tsieditse 😳, couldn't u go back on the deal, mh mh! Wow u have no bond on the house woooow! U could just hire an assistant Nic, I think. Thanks 4 the video.
Ahh even the assistants won't make the costs that you must minus from the rental go away.
I’m also wondering if property managers are a good option, but I’m new to the landlord thing and got them to assist me and so that the tenant doesn’t take advantage of me. The middle man may provide some sort of protection and assistance🤷🏾♀️
Get a good rental agent, my agent is giving me headache, they report problems days later😡😡.my friend stays in the same complex & the tenant runs to my friend all the time
@@sihlesihle6838 Eish I’m sorry about that crossing fingers the guy I have is good and won’t do the same as your agent
Rent is gonna go up annually Nicollete dont worry, you'll be living large at 60 🤗... patience pays.
As much as rent will be going up, so will the rates and levies
@@sisimazwi1890 and inflation
Not in this covid climate unfortunately 😫. Rent is very low
As much as rent is going up the amount of maintenance is also increasing because the property is getting old
Long term patience 🙌👌💯💚💜💙❤🧡💛💓
This video really shed a different perspective on property ,,but i still stand behind property ,but one thing i have learned from your videos is that you have a low risk appetite so property will always be in the cards for you ,i believe when it comes to income property ,the goal should be owning the entire apartment block/multiresidential place, i believe at that point that is when you really get value for your money
I agree with you, everything you said, is 👌👌
Absolutely. As I said Property is an important asset to have. All I am looking for is a smarter way to do this.
My left ear is very greatful for the sound received from the one earphone
😂🤣I thought my earphones were no longer working😭
🤣🤣🤣🤣 thought I was the only one hearing music on my right ear and her speaking on the left ear
Same here🤣🤣🤣
🤣🤣same here
🤣🤣🤣
I really used to think it was milk and honey but further research showed me that it wasn't for me. I would rather get a property ETF through EasyEquities and avoid the stress of dealing with tenants etc.
When buying a house and you want to to rent it out do u have to tell the bank tt?
Not really but they do ask if its for investment purposes
Lol being a tv presenter has changed how she speaks. Okare I'm listening to radio or the news or something
@@masiitrades9502 go get a life. Stop scamming people tuu. I mean the nerve to even comment directly on Nicolette's channel pretending to be her. Disgusting 🚮
It's all about location, good points but if you hit the sweet spot in rentals move to the more populated areas where the demand is higher it's very profitable. Been doing our rentals on our own all the times and it's been a good journey this far.
Hi there.
You really need to advise us on how you do it.
It's really not easy 😢
Yes please do advise....
You are right populated areas are the best to invest. People think places like Hillbrow, Joburg CBD, Yeoville etc are not good investments yet they pay higher returns than the less populated suburbs
Howwwwww do you manage the tenants 😞😞😢
Thanks for the video. I feel that rental properties should be a supplementary income to your main income. I would prefer a management agency because this ensures it is passive income. You didn't mention anything about rental income tax
How can I get in touch with for financial coaching?
Kunzima straight sis'wam kuma rentals. I still want to buy the property for renting it out. I used to be a tenant. The charges left me wondering how good life would be if I owned my business property. My rent was more than my profits for 5 years. I closed shop. Willing to try owning business property. I laughed when they would collect rent Laqhasha style, scaring me back then
Please check that they are paying rates for you. i had experience were in the managing company were not paying rates to the municipality.
With all that's been said in the comments section...the great things about having a property whether paid up or bonded is it's appreciation value over the years...that's the value add either way. It is true that it would be nice and it's important to make rental income coz that's what you bought the property for. But the appreciation value over the years may enable one to buy an even bigger house, and one that can be converted into student accomodation perhaps if the situation of not getting decent rental money is really bad..
Thanks Mpho
Question: Doesn't the Buka App also use data for you to watch the ads? Like youtube that also needs data for you to watch content on it.
I mean you ask some real questions
personally i make extra ks/m from using the buka app.their data consumption is super low
I got a qoute from one management agent which quoted me once off R1 000 then 10% monthly from rental. I think they are robbing you if they also take a tenant deposit/first rent.
Thank you so much for this content. Please kindly explain what the responsibilities of the lessor are when it comes to leases and what the responsibilities of the lessee are
The Lessor is the land lord, the lease stipulates the responsibilities. these include upkeep of the property, communication between body corporate and lesee...shooo the list is exhaustive. If you have a typical lease agreement it stipulates there. Here is a document that can help www.wits.ac.za/media/wits-university/faculties-and-schools/-engineering-and-the-built-environment/research-entities/cubes/documents/A%20Landlords%20Guide%20to%20Rental%20Housing.pdf
@@FinancialBunny Thank you So Much For It
Thank you for sharing your experiences with us Nicollette it makes it so much easier to relate. You mentioned that two of your properties are financed through a bond, quick question, is it possible to apply for another home loan (with a different financial institution) while you already have one? Does the bank consider your affordability of the second bond or one is automatically disqualified because they already have a bond that they are repaying?
Good question.......I have been asking Myself the same question
If the current bond is not paid up, it's added expense. If you going to rent it, it's seen as rental income and you must provide proof.
@@nkaiseng4698 Oh i see, thank you. This helps, thanks again.
Yes you can apply for all the home loans you want from any bank. They will always do an affordability assessment and a credit worthiness assessment. If you qualify and the loan doesn't leave you worse off the bank will make an offer. Its sometimes a negotiating tool to go to your bank where you already have a home loan to show them the offer and give them a chance to beat that offer. I do that a lot.
@@FinancialBunny Oh Okay thank you very much.
Hi I can’t find the Buka App in App Store ,Is it available in iOS?
Only on Android
That might be because you bought a property from a developer? Typically, a chunk of the profit is made from buying land cheap and building efficiently and selling at a markup? (i have no idea how property development works in SA, though). But if you're buying the marked-up property (which developments can be), your profit margins will be smaller. Not sure if this makes sense. If you develop the property closer to cost price and rent it out at the usual marked-up price, that's where the profits are. but *shrug*.
You are definitely right Mina. Our *self* developed land for rentals make much more. Even if we were to dispose it off, it's still profitable.
True, I agree
I didn't buy any of my properties from developers
@@FinancialBunny so did you buy it from the owner of the estate or from an individual who bought the flat earlier then sold it to you?
Why don’t you try using one of the places as a Airbnb? Or like a 5 star guesthouse
You rent it out for like 1.8+ per night if people book for the entire week it’s kind of profitable in a way
@@masiitrades9502 hey thank you so much, is she legit?
@@berthonyjo The comment is not from the real Financial Bunny account. Her real account is verified.
@@nomusadlamini685 hey, thank you I only noticed now
I hear what you saying Nico... But somehow I think the high end properties are struggling at the moment but the low end one TSA Kasi and middle class new development are making a heat... Think about it instead of a 1million Rand apartment in a estate why not a 500K house in a new development area for middleclass I mean the house can be rented in different strategies like you can build outside rooms, and section a house into Lil flatlets, you can rent it out as a commune or as it is.... Which all of them have different advantages and disadvantages.... High end property market is not a way to go.... Low end is life.... And no leasing agents likes to manage maLine lol Kasi so all the profit and the hard work to your self
And here in this market we are hardly competing with white people
This is so true. I have a house in a location and bought it for R300 000 7 years ago. I built back rooms and paid off the bond, now I'm collecting the same R10 000 rental income without all the stress, because there is no levies and my municipal levies I pay myself.
I definitely hear you. We all will go for the market we understand.
south african 10 year government bond yield 9 %, are no stress and higher returns.
🤣🤣🤣 i relate to everyword you have said. I also have a number of properties rented out. I know everything you mentioned. Mine are also managed as well because i tried managing a tenent and she showed me flames. And i said anever ngimanage itenant ever again.
Flames mama flames😅😅😅😂.
@@lifeofnisab9482 ngiyakutshela. She would go a whole 3 months engakhokhi irent while she had money for booze and cigarettes...
@@thebaddie391 Mina I don't tell them I'm the owner. Because wow, the disrespect is unbearable
@@lifeofnisab9482 i have also learned. I don't wanna be known so that it remains peaceful. I once had tenants of a different race, the minute they saw the landlord was African ... my goodness I tell you... the demands... it was like they were punishing me for being black and younger than them
@@thebaddie391 same whatsap group 🤭🤭. I'm 100% with even being known as the hobo 😂😂🤣. As long as there's money coming in.
Just this caption got me here coz wow guys property investment issssa lot yho!
I genuinely don’t believe in agents . They outsource services to expensive suppliers , charge a lot . I would suggest trying it on your own first. You basically hire someone to take instruction from tenant . When I have issues e.g. leaking sink,I call the body corporate, they often know to refer you to a supplier who normally assists in the complex/estate & you pay .
Agents are regulated by the estates agent board, they can only charge commission up to 10%.
How do we contact you regarding financial couching ?
I'll camp here till she notices you...I'd love her peace of wisdom...she could really help me
Please make a video on the process of buying off plan or into a new development......pleeeeaaasse.
That video is coming up next week
@@FinancialBunny where?
Thank you for always being transparent with us, indeed rental property is not Milk and honey 🙆♀️
Sounds like you are buying your rental units from Developers or at market value . That is usually the case that you dont make profit from day 1 . One needs to purchase way below market value. Right now the best way to make profit or at least avoid loosing money , is Multi Lets that way when one tenant leaves you still have 3, 4 , 5 more who are paying you
Multi let is the best ko Kasi
Rental property is not easy. I have rental agent managing my properties and I also wonder what they actually do.
I agree Admin and maintainance is not a problem. The problem comes when you have problem tenants who mess up the property or who do not pay rent and you have to take legal actions.
and they always tell you that the legal part of the eviction is your job. What was the whole point of having a managing company?
My left ear felt this
I agree, to that.
When Nicollete took a breath after the maths calculation. Askies man
Tjo the property manager at my rental acted like the owner had to fire her! Imagine telling someone what you want and they have the liver to do something else. Haai shem. Should've know from the first time I meet her she said there's someone who wants to buy the place Haai! But anyway why are your levies so high Nicollet is it because of the area?
Remember levies are to ensure that body corporate can upkeep the property. So all common areas like gardens, driveways, access and security, club houses, the outside of the property can be taken care of.
Looking as Radiant as The Sun And Her Flowers . . . 💐😏🤍 Excuse My French
Divide and Conquer Concept
@Financial Bunny Really? So I get the fake reply . . . Need to re-channel my energy into something constructive with potential returns . . .💔
@Financial Bunny Hopefully Dennis is a nice person must admit this is going to be my first time . . . He better take it nice and easy and not corner me into unwanted positions,I'm not that kind of person . . .
@Financial Bunny Then the restraints come out. I'm looking for someone to balance the equation,it mustn't be a one sided affair . . . Looking for a commitment to my potential growth and best interests if not than Dennis may pass on . . . 😉
@Financial BunnyDennis the menace I wonder what's his price range,how come these numbers never work on whatsapp 😅🤔 a bit fishy is you ask me . . . Does Dennis make you happy?
@Financial Bunny How about you add me and we can make it a group thing if your into that . . . 😊 Would you mind?
I think you calculations are wrong. You know primary school math it can't? I did not see provisions and since have bought them cash what about income tax?
Ok, please do the high school calculations for us
@@FinancialBunny on top of your calculations account for provisions like vacancy 5% i.e insurance maybe to cover for eviction and vacancy and 5% maintenance. And if you do not have debt on your properties your positive cashflow is subject to tax maybe 30%. And also If you have less than 5 apartments you can't get tax advantages of providing housing. In conclusion i want to say property is for people who want to grow their cashflows tax free using debt. My option is property is not for people who sit on all their eggs.
Buka app doesn't start
Just install fibre
Kwaze kwanzima 😭🙆🏾♀️
for all of us. Listen we are not going to be deterred though. We shall keep trying
Sound quality is poor.
NIcolette Property Management Services..
You are better because there was no bond on the property.
Nicollette and followers i think you defenitely spit alot of thruth there. Property is defenitly a asset class to invest in and can yield some great profits. However the way to jump into it is by Buying below market value, than add the value yourself to make it market related. When renting out the profits are bigger then the average Joe...So just like anything else it takes some skill learning where and how to get those type of properties......the First rule is always : You make money when u buy the property...✌✌✌
The video amhas no audio
Maybe it's your device
The music is on but don't hear her speak... all other videos on yt are good
@@Moyawethu. I can hear her just fine on my side. And seemingly you are not the only one who is experiencing that,I've just checked on the comments
I had close and open TH-cam and start the video again to hear her.
I think Sizwe Dhlomo is the ideal person to talk to.
Why do you say so
What will Sizwe teach us?
@@sisimazwi1890he has properties and managing them cost wise he seems to be doing good.
@@FinancialBunny on how he manages his properties and profitability wise
it's tough
Hai ke the hustle is real
I don't know if it's just me or is the sound not working?
It's fine on my side
I also can't hear anything.
There is no sound to this video Nicolette.
@@kgorutleprecious6580 It works perfectly on my side.
Haaai you are the only one who can't hear it
Girl I would legit help you just to get some experience
Yoooh this is a scam🙆🏽♀️🙆🏽♀️. I just bought another property in hope to rent the other. I thought I would score some extra cash
It depends on the location, demand & how much u bought it. The rates and levies should not be too high.
Then I think you can manage.
@@phoebemailwane7949 thank you, I will look into that😊🙏🏽
Its not all doom and gloom, Real Estate is still an important asset. We just need to be smarter about our properties
@@FinancialBunny indeed, thank you for sharing this perspective🙏
Everyone please be careful, there's someone pretending to be Nicolette (but it's a fake account with less than 10 subscribers) in the comments thanking people for commenting and posting WhatsApp numbers of her bitcoin "manager". Be careful it's a scam
OMG managing agents are such a rip off. Imagine R4000 for 3 months. Yhu
R8000 placement fee insane
Ku Rweff
Will you marry me?😍😍😍
From 32k you only got 6k? Yoh☠️
Hire me dear I'll manage it all for you for just R6k a month 🥺😁😁 i don't have experience though
Haaaai that's a lot. R6K
@@FinancialBunny 😂 negotiable
you need powder, girl, just saying