One of the most commonly asked questions that I get is:
“How do I get started with property investment in South Africa?”
My answer usually surprises people. Instead of jotting down a how-to guide, I always start by telling them the steps to take before they invest in real estate.
When it comes to real estate investment success, preparation is key. Early in my career, I made the mistake of going all in with little knowledge of the real estate industry.
It was like jumping into the ocean without knowing how to swim.
I wish someone had been there to tell me these tips before I got started in real estate investment. Luckily for you, I’m here today!
Here’s what you should do before you invest a cent into real estate:
Invest in yourself
The best thing you can do for yourself when you enter the real estate investment industry is to educate yourself. This industry is complex. Unfortunately, you can’t just read a few blog posts and become an expert on real estate investment. (But wouldn’t it be nice if you could?!)
Instead, you need to study real estate investment. Read books, watch videos, attend courses and learn about your area of investment.
In addition to industry knowledge, you need to have location-specific knowledge in order to become a successful real estate investor. While you can technically choose any area to invest in property in South Africa, it’s easier if you pick an area close to where you stay.
Develop a strategy
It’s a terrible idea to invest in property in South Africa without a strategy. Strategy is important because it provides structure, offers a sense of direction and outlines measurable goals.
There are dozens of investment strategies that you can choose from. It’s important to pick one that fits best with your budget, personality and investment goals.
It can also be helpful to discuss your proposed investment strategy with your mentor. And that brings me to my final point...
Invest in a mentor
The most valuable thing I ever did for my real estate investment career was invest in a mentor.
My real estate investment mentor helped guide my in the early years of my career. I have saved an incredible amount of time and money just by listening to my mentor’s advice.
Are mentors necessary? No.
But if you try to break into the real estate investment industry on your own, it will take you much longer.
Property investment in South Africa is serious business. If you aren’t well prepared, you can lose lots of money and waste years of your time tied up in bad deals. I don’t want that to happen to you!
As excited as you may be to get started and invest in property in South Africa, it’s important that you wait. First, learn about the industry and develop a strategy. Most importantly, get a real estate mentor that knows what he’s talking about!
Hi, I’m Ezra Rasethe, an entrepreneur, real estate investor and coach who facilitated millions of rands in investment opportunities in just 3 years. This year, I am launching my Real Estate Wealth Mentorship Program where I help 20 real estate investors start, grow and scale their businesses. Are you interested in becoming a real estate mogul? Click HERE to schedule a FREE mentorship call with me and gain access to exclusive resources.