 Hey there, welcome to the private property podcast. I am your brand new host, Sibs Matiella, and we're here to talk about all things property. Today we are exploring the topic of achieving financial freedom by making the right property investments. We're going to be talking to Yaku Kribla, who's the Managing Director at Prosperity Enterprise. But just before we get into that, I need to remind you, all roads lead to the property show. This year we're back in real life and virtual with content generated in our Metaverse studio. We've designed the exhibition space to replicate the world's most popular property game and added in activities for the whole family, including an indoor park and play area. The game board is divided into four journeys, namely, first time home buyers Boulevard, Investment Avenue, Sellers Street, and Renters Road. Visit thepropertyshow.co.za for more information and to get your tickets today. The property show 2022, 27th to the 28th of August at the Santan Convention Center. No matter where you are on your property journey, we've gathered the experts. That's right folks, you heard it here first. All roads lead to the property show. Like we've said before, it's happening at the Santan Convention Center on the 27th and the 28th of August 2022. You can watch the show digitally from anywhere in the world, but we would suggest that you be here in real life in person. And so if you'd like to purchase a ticket, just click on the link in the comments and you can follow that link and buy your ticket. But back to today's episode, like I said, we're discussing achieving financial freedom by making the right property investment. And we're speaking to Yaku Krooblo is going to tell us a little bit more about that. Yaku, welcome to the podcast. How are you? Great to join the private property podcast again. And I'm so honored and so excited to be on the show tonight. It's lovely to have you here, Yaku. You've been with Prosperity Enterprise since 2016 as the managing director. Tell me more about your journey. That's correct. Yes. So I've always been very, very passionate about property. I actually read up a lot about property in school already and always wanted to invest in property. And then I went to go study. I studied financial management, business management, investments, quite a bit of studying that took place. And then I was in corporate for quite some time. And my last position in corporate was as a chief financial officer for a company that traded across Africa. And I always had property on the sideline because I always knew that that is what is going to make me financially free. And then in 2015, 2016, I could actually make the shift to property full-time. And that is when I started Prosperity Enterprises. And Prosperity Enterprises is really about empowering individuals to bold and protect well to create financial freedom through proper structuring and property investment. I'm glad you mentioned structuring there, Yaku, because structuring is one of the key services that you do provide. Do you mind giving me a bit more information about this in terms of real estate investing? So I think one of the most important things when it comes to investing is making sure that you've got the correct structure in place, the correct foundation in place. Because when that is not in place, everything that you bold on top of that is at risk. So when we speak about structuring, we really are speaking about what are the entities that you should buy your properties in. Should you buy properties in your own name? Should you buy it in a company? Or should you buy it in a trust? And we help property investors to make sure that they have the correct structuring in place so that they can have all the benefits that structuring offer. And those are to protect your assets, to bold the legacy, to pay less in taxes, of course, and to increase your financing capability. Yaku, I'm really glad you actually ended up going into this business full-time, because a lot of people don't think about the nitty gritty of the things that you're offering and that you're saying. Because I think for a lot of property investors, especially residential property investors, it's about having your dream home. It's about having a place to call your own and being able to paint the colors that you want it to be. So I'm really glad that you're doing this work. But speaking of property investment, do you only deal with the residential property sector? We actually assist our clients in both residential and commercial property investing. And we have a lot of clients that invest in commercial properties. And then we've got a lot of clients that invest in residential properties. Now, one of the things I love about residential property is of course the fact that you can get 30-100% bonds. That's probably one of the greatest advantages of residential properties. So you can actually bold a property portfolio with very little of your own money. When you start moving to bigger property investments and to commercial property, then unfortunately your 30-100% bonds are not that possible anymore. You then start looking more at 70% or 80% bonds or loans with a 10-year period. But often your yields are better on those kind of investments. So just to draw the picture a little bit between residential property and commercial property and why different investors invest in these different asset clauses within property investment. Yaakou, I think to a layman like myself, a lot of what you said, although it makes all of the sense in the world, can sound like gibberish, which is why we need people like you. Could you elaborate maybe on the additional services that you do provide and why you think that potential investors would need them? Sure. Everything about our business is to help property investors in their journey to become financially free by investing in property. So one of the services that we provide or something that we do and that I'm absolutely passionate about is property education. We are actually in collaboration with private property, doing property education live all over the country, where we teach property investors how to invest in properties. And then also an author, I've got a book where we also teach individuals how to invest in property. And then of course we've got the structuring side of the business, where we don't only help our clients to put the correct structures in place in order to bolt their property portfolios, but also to administer those structures. Those entities need financial statements, they need tax returns. It needs to be done in such a way that it's going to enable you to bolt your property portfolio further as well. And that is why we are there to help our clients with all of those administration needs of their entities. And then we work with service providers in every single aspect of property investment to help our property investors in their journey. I love this, Yaku, and I know that you often organize property investment events where people can come and you know, you can do all of this work and disseminate all of this very much needed information to the people who need it. Could you tell me more about when your next event is and what it's all it's going to be about? Great. So private property and prosperity enterprises have four more events left for this year. The next one will be in Bloomfontein, the 13th of August. And then we are going to Port Elizabeth on the 1st of October, Joe Hinesberg, the 5th of November, and Kate Thunder, 3rd of December. And that will be a full day property investment seminar that is extremely content driven. Lots of notes that need to be made. And we focus on so many different aspects of property investment from the fundamentals to structuring to strategies and approaches to the practical steps of how to submit an offer to purchase, how to get financing and how to manage your property portfolio. Listen, I love you keep repeating this word property portfolio and it really speaks to my heart because if there's anything I want in this life is to be one of those people with a property portfolio. And I believe you might help me get there sooner than later, Yaku, but let me ask you the clients who come to you, what would you say are their main concerns regarding building a property portfolio? I think one of the greatest obstacles and greatest concerns of my clients are the fear of stepping up, the fear of starting. You can think about it when you buy your first property. It's a financial decision probably 100 times the size that any other financial decision almost that you have made. If you think about how overwhelming it is when you win for those of you that have bought your first property. So fear is a very, very big thing that we deal with and we are really there to help our clients in that process of getting everything in place and then to start building their property portfolio which takes place one step at a time. And I think that is the second obstacle which is probably the reason why so many people don't succeed and that is the lack of consistency. It's not about how much you do today or how much you do this year, it's about how much you do every single day. And what we really focus on is helping property investors to take small steps every single day because small steps every single day is much more important than sitting and waiting to do one big thing. And it's really about knowing what the next step is that you need to take and to focus on that. Yes, you need to have a big picture. Yes, you need to know where you want to go with your property portfolio but then you need to start focusing on the next step and make sure that that step is taken. I totally hear what you're saying. It's like the way you would build a house brick by brick is the same way you would go about building and growing your property portfolio. You are not only a successful businessman, but you're also a very successful author and you wrote the book Prosperity Through Property which is a guide to experiencing financial freedom by investing in the country. Tell me what inspired you to write the book? What is the book about? I mean the title is obviously self-explanatory but what was the inspiration behind it? So it was so scary for me to see how many people are making decisions in property investment and are making property investments without being properly educated or being uncertain as to how to do certain things. And I've realized that when I get asked questions often enough that it needs to be written down and it needs to be made available for people so that everybody can benefit from it because if there are a number of people asking those questions it means there's a lot of people out there that's not asking the questions but also need answers to those questions. So the inspiration was really in helping individuals and giving individuals a guide to invest in property specifically in South Africa. There is great content out there from a global perspective but there's not a lot of content and not a lot available to invest in South Africa and although some principles are the same all over the world South Africa is also a very unique country with very unique challenges and very unique things that you need to consider as a property investor. I really wanted to put as much of that together to guide and to help property investors build their property portfolios in South Africa. So if one had not read the book for instance and they said okay Yaku what are the main takeaway points from this? Give me not necessarily a point form summary but the main things that you need to know and the main things you're trying to communicate through the book what would you say those are? So we actually start the book about talking about mindset you know that if you have the wrong mindset about money and about finances that you will never achieve financial freedom and success. So we actually start I want to say from a philosophical perspective about what is your mindset and your beliefs about money and we challenge some of those beliefs because a lot of us are brought up in a certain way to believe that money is evil and as long as you believe that you are always going to repel it so that's the starting point of the book and then we move over to personal finances and how you should manage your personal finances and one of the points that I made there is that you won't be able to build a property portfolio if you can't even manage your personal budget and your personal finance that's the starting point for me to get that right and then we really start jumping into property why should you invest in property? What are the fundamentals about properties? How does that economics work when you look at property investment? We've got a great part that we cover about structuring and the importance of buying your property in the right entity either in a property trust or in a property company with the shares held in the trust and then we start in very practical where we look at practical things that you need to consider as a property investor so your strategy that you need to follow, the approaches that you will take, how to go through that process of acquiring a property, how to manage that property portfolio and also how to deal with tenants that don't want to pay you. Well sometimes it's not because they won't it's because of COVID and they can't yaku but you know what I really like about that is that it sounds like a kind of mind map that you've put together a sort of Google Maps where you have a starting point and you are easily sort of guided through the process of all of the things you need to do and consider and all of the ways in which you need to behave to really achieve this goal and as with any goal it always starts in the mind so I think that philosophical element and that being the place of origin for now you know encouraging this sort of growth and prosperity mindset is really incredible. Do you have any other books in the works? So we are actually working on an online course with private property we get a lot of requests for that so we are actually working on the content of that and there will definitely be another book in the future but not not now immediately. Yaku what are the plans you have for the future of prosperity enterprises? As I mentioned in the beginning for me prosperity enterprises is about empowering individuals. Do not just bold wealth but to protect that wealth as well in order for them to create financial freedom through proper structuring and proper investment. So everything that we do everything every product that we bring out every service that we provide for our clients focuses on that which is our mission statement. So we are definitely going to continue to assist individuals in that journey and help them from as many aspects as possible like I say with private property we are doing events all over the country those events are only going to get bigger and better every single year and we are really focusing on helping as many of our as many property investors as possible in that journey to create financial freedom in property investment. Yaku it's so interesting to hear about your journey and how it sounds like you sort of ended up in property but really I can tell that it was just your calling it was a vocational thing and just your passion for helping people achieve these goals and achieve prosperity through property investment is something you know I really admire and I'm so happy that you could join us on the podcast today and really looking forward to seeing you at some of the events that you guys will be hosting you said there were four more left for the rest of the year so I'm really looking forward to attending those and learning much much more about being prosperous and financially free myself. Great great we are so excited for the property show coming up I will be speaking there at the investment part as well so very very very excited for the private property property show that that's coming up soon. As are we thank you so so much Yaku for joining us that was our guest Yaku Krobla who's the managing director of Prosperity Enterprise listen it's competition time you know what time it is um one lucky viewer at home is about to win 500 bucks and a ticket to the property show because like we've said over and over again because you need to be there because it's important all roads lead to the property show happening at the Santan Convention Center on the 27th and 28th of August 2022 if you need a ticket you should click on the link in the comments section but if you are this lucky person then you already have one coming to you Volufelo Michelle Gordon congratulations today was your day you've won 500 rounds in cold hard cash and a ticket to the property show we look forward to seeing you there thank you so much for joining us on today's episode of the private property podcast I'm your host Sibs Mattiella and I'll see you again tomorrow this year we're back in real life and virtual with content generated in our metaverse studio we've designed the exhibition space to replicate the world's most popular property game and added in activities for the whole family including an indoor park and play area the game board is divided into four journeys namely first time homebuyers boulevard investment avenue sellers street and renters road visit the property show dot co dot z a for more information and to get your tickets today the property show 2022 27th to the 28th of August at the Santan Convention Center no matter where you are on your property journey we've got the experts