 Hello everybody and welcome back to the 50-day property challenge brought to you by the Enterprise Development Property Fund and Private Property. Today we wrap up the entire 50-day challenge because we are now at the end of week 10. We'd like to thank Jared and Matt Health for their engagement with us and the process that we've run through these last 10 weeks where we helped them to purchase in Jared's case his first property but in Matt Health's case her third and even fourth property. As you have seen in the previous sessions Matt Health is now finalizing her third and fourth property and Jared has already taken transfer of his property which was a bit unexpected because actually during 50 days we don't really expect you to take transfer it. All we really expect you to do is to decide on your strategy go and find the deals make the offer raise your capital and then wait for the transfer to happen but because Jared actually had his funds available he was able to actually take transfer during the 50 days so congratulations to him and congratulations to Matt Health for being at that stage now where she is finalizing her third and fourth deals already and hopefully in the next couple of weeks she will also take transfer. They are still in the program for another three more years and this first part of the program the 30-day challenge was really just to test their metal and to see how quickly they can start their portfolio. So yeah we've decided today instead of wrapping up with Matt Health and Jared because we've already done so with him we decided today to bring some of our students into the 50 day challenge to see where they are at in their process and where they started what they wanted to do and how long they've been on the program and what they've achieved thus far. So I'd like to welcome into the room today Mark Quickfall Dwayne Duplassie, Jolanda Eli, Brent Lecher and Kani Sile Makaya. So the first question that I'm going to ask and we'll start with Mark we'll move on to Dwayne, Jolanda, Brent and then Kani Sile. How long you've been on the program and when you started the program what did you expect from the Enterprise Development Property Fund? Mark? Hi Nigel, I started in 2019 and I thought I was going to get ours for free. Did it turn out that way? It takes some work. Yeah so I started in 2019 and as I told you before I'm not leaving. So I don't know if I'm supposed to say that for this video but you've got me for life now, partnership for life. No that is for sure. So you and I have had that conversation and I think it probably is echoed throughout the entire student body of the Enterprise Development Property Fund that once they start with us that they actually never want to leave because of all the support that you guys get and all of the fundraising opportunities they are within the program. So you've been with us since 2019 but unfortunately because of COVID you haven't graduated yet because you haven't completed the entire course even though as far as I know you've already bought your first property. Am I correct? Yes 100% correct. We in process now of a couple of more but I'll give you some more details later when I get my chance. Fantastic. Dwight, can I ask you the same question when did you start and what did you expect because if my understanding is correct you and Mark have actually partnered in your business in order to build a portfolio is that right? Yes that's correct Nigel. I started the course in 2020 so I'm in my third year and what I expected from the program was to bridge that gap between taking deals and connecting them to people with finance or money and so the edpf that is my expectation to take the deals that I had on the table but to close it I didn't have the knowledge of the expertise so it was to bridge that gap that knowledge gap and that is my expectation and I must say I'm getting that support from the edpf. That's fantastic to you. I'm so glad that we actually were able to, other than Mark who wanted us so free, we were able to meet your expectations which was fantastic. I'm so glad that we were able to do that. Jolanda, same question to you. You are now, first year I think if I'm not mistaken. Yeah fresh out of the glass so I started in Fib this year and my expectation was just to get to know what I don't know. Like you think oh I'm just going to go buy out and then it's going to make money but then when you start then you're just like oh there's so much knowledge that's just it's not given to you so you have to go out and find it and I think I've definitely found it. That's fantastic. I mean you actually amazed me because just like with Brent as well was the first year we've had some conversations one on one and I very quickly realised that actually you already have what you need. All you needed to do was identify it and then take and then actually access the opportunity that was available to you already but you'll talk about that a little bit later. So I see Kanya and Gonyama has joined us as well. Welcome Kanya, we'll get to you as soon as possible but just quickly Brent, you are also first year am I correct? That's correct. What was your expectation? Yeah no look it was of course to learn how to start a property portfolio and also just to educate myself further on property in as a whole because what I find is is that I mean you read all these books all the years and you've always you see what guys do and what people do but then you yourself also you're still lost because there's this missing piece of okay so this guy bought it through a company property through a company but how did he actually go about it? Who did he speak to? How did he go about your text? So EDPF is kind of it's bridging those gaps so to say so yeah no I'm loving it this well. Fantastic I'm so glad to hear that. Can you see the same question to you? You started I think last year if I'm not mistaken and what were your expectations of the program? Yes so I started last year and my expectations were simply that I had a project but I didn't have a property business so I really wanted to move from having just one project to really having a property business. Those were my expectations and I think secondly I really just wanted to be around people who were speaking the same language supporting each other in the space. All right fantastic and I think you definitely have found that you found people who like you say speak your language but also are they readily available to support you in building your portfolio because ultimately that's what we year for is to help you to build your portfolios. I'm glad that you found a group of people that have that same sort of outlook in life. All right Kania Engonyama you've joined us now after we started but the first question that I've asked everybody which I'm going to ask you as well is how long you've been in the program if I'm not mistaken you've been here since 2020 and what did you expect when you joined the edpf academy? Yes Nigel you are correct I joined since 2020 and my expectation was that it's going to be more like just online courses just learning and just doing online courses and then after doing course just getting a certificate but my expectations have been exceeded because the support in obviously getting the financial like raising the finance for property deals that is the part that has exceeded my expectations and also being around other like-minded property entrepreneurs. Fantastic fantastic it's a pity that I mean with most of you guys you started 2020 2021 and now 2022 we've come through this phase of being under lockdown and unfortunately that meant that we couldn't meet one on one face to face but we have had quite a bit of engagement via zoom and google meets and so on lots of webinars where we could at least connect with one another and even with Mark and Dwayne as an example Mark is a 2019 candidate Dwayne is a 2020 candidate but together they've actually started a business so I just want to quickly catch up with you Mark and Dwayne about that how did you find each other and how did you come to create a company together in order to actually get your portfolio going Dwayne let's ask you first Oh so I don't know if you remember Nigel I think it was in 2020 I was invited to a seminar I think one of Anton seminars where they discussed the strategy of how you set up your entity with a trust and able to then leverage 100% fund finance at the bank so I had this idea of four guys within the company to increase our affordability which I then did but then I shortly found out that it's not that simple as just buying 100% or getting 100% to 110% fund finance we still needed some capital and at the time I was discussing the business with Mark and he came along and he brought some capital along and that's how we basically teamed up and then started looking at deals and we obviously then closed our first deal the second deal fell through but yeah that's actually how we came or how we formed our business and how we partnered fantastic so Mark your business you structured in a in a way where there's a trust involved there's a company involved and then you started buying properties tell us a little bit about that structure and and how that came about yeah I actually I was really fortunate that when it actually started that process with Anton and when I came in the trust was set up and we started the company and all the shares in the company is actually in the trust none of us are shareholders in the company are sitting in the trust so I'm now we still busy with the amendments in fact that I'm going to become a beneficiary and a shareholder in the trust that's what I learned from the EDPF by the way Dwayne too you know you need to safeguard yourself and you we put this up in the trust so all the shares are laying in the trust oh by the way I met Dwayne I met Dwayne when he came for his orientation in first year and I saw him sitting there looking lost so I we went up to him and I said hi you know I give a buy a full bar so I went up and say hi so and it just started fantastic fantastic okay so just for those who don't know Anton he is one of our lecturers we've got 27 volunteer lecturers that work in the EDPF program that teach anything from property management to how to raise capital legal aspects of property due diligence feasibility studies all of that sort of thing 27 lecturers who work voluntarily voluntarily in the EDPF program and Anton is just one of those guys who has blessed the EDPF with their time and help our students to do all sorts of things like structuring their deals structuring their company and so on so Kanya let's jump to you you had a portfolio when you started with the EDPF and you are now busy building on to that portfolio by growing your your companies I think you had something like seven or eight properties before and you are now busy finalizing two other deals where you're going to add another seven million range worst of properties to your portfolio tell us how that's going yes Nigel so when I started off I actually had seven apartments before I joined EDPF but ever since now I joined I'm currently now going into the multi-let space and also into the student housing space so what happened is that about a month after joining EDPF as you may remember there was a a block of flats in Terefontein Jobek which is a is a a deal that's been concluded but the transfer is currently happening now as we speak and also there was also a student building in Port Elizabeth where the the funding for it has just been done so the debt will also be going through soon so I started off like just being like your your sectional titles but I realized that the problem with sectional titles yes it's a good way to start it an investor but the levies can actually lessen your profits hence what I'm going into multi-lets yeah that's that's a true story that you've got in terms of the the fact that having a property that is within a complex where you actually don't have control over the over the entire complex those levies can become very heavy and very expensive and cut into your cash flow when you when you purchase them so your your sort of flip from going into single residential within a complex into the multi-let kind of scenario where you buy one example where you're buying a block of flats of 10 units in a joint actually buying the entire block which is which is phenomenal and we at the EDPF are helping you to do that so we are as always we we glad to be part of that journey where we allowing you or helping you to not only structure the deal but to also raise the capital can you see when you started with us you were nearly complete in a process of building a block of 66 units tell us a little bit about the support you've received from the housing partnership fund and how that's been going since you joined the EDPF okay great wonderful in 2013 the EPF which is the emerging property developer program I applied around 2013 2012 2013 but it had probably opened about two or three years before that and I was a successful applicant in 2013 but I really didn't get a deal going until about 2014 2015 it took me a while to find the right property that was affordable but eventually I found a property on auction in Benoni and it fitted my budget and so I bought in Benoni and then I then went back to the GPF the housing partnership fund to apply and I was successful so initially when we were taken onto the program we were meant to do deals of about 15 million rand but I think the idea at the time was that GPF would hold my hand for a bigger deal because you know it was quite a large space it was 3400 square meters and it allowed 66 units so that's how I really then went on to do what is in my mind a mega deal which was the 66 units and yeah it's just been an incredibly amazing journey a very challenging journey and I've had all sorts of challenges for instance they were almost two years when my contractor did not have money to continue with the building in hindsight I think if I was already in the EDPF program we would have then launched a legal play around replacing the contractor but it didn't happen and so it delayed the project and when I was then done with the project about a year ago the municipal regulations around fire had changed and so then I really needed your help Nigel and that of the EDPF to then move you know the transaction along and yeah I think we would need a whole hour to discuss all the challenges but I think I think we're almost there we're almost there with the project yeah but I think also I mean at the end of the day now we in fact not even a week or two ago we finalized with the housing partnership fund that they would extend your facility that they would capitalise the interest that has built up over this period because of this delay with the municipality that they in fact actually then secured a meeting with the municipality to try and resolve this issue and hopefully in the next four to six weeks you'll be able to get your occupational certificate and make it right yes indeed that is the plan yeah because you know with that occupational certificate at least we can start tenenting and trying to because it's a lovely building it's ready it just needs the occupational certificate yeah sure absolutely no I've seen pictures I haven't been there myself but I've seen pictures and it is absolutely beautiful and I think you're going to be hugely successful once you get your occupational certificate thank you guys so we're going to take a bit of a break for a minute just to pay the bills and then we'll be back shortly after this welcome back everybody and we are here today with some of our students on the enterprise development property fund program thanks to private property for their support over the last ten weeks as we wrap up today we wish to again congratulate both Matt Owl and Jared for the successful journey that they've had with us over the last 50 days right now we are busy talking to six of our students who have been in the program since from 2019 until in fact this year we've got two new students Brent and Yolanda and those students are here with us today just talking about their journey what they expected from the EDPF and where they are now so we've already quickly caught up with Mark and Dwayne in terms of where they are at Karnia as well as Karnisili but right now I just want to chat with Brent and Yolanda because they are brand new in the program they've only been with us for about two or three months and already both of them have secured some deals or structure where they would be able to generate income from my property portfolio if not immediately within the next couple of months or maybe even a year or so so let's start with Brent this time Brent we had a conversation not so long ago where we won't mention your company's name but you work for a company that does developments and we were talking about you not being able to find the right deals and I said something to you about the deal sitting right under your nose if you recall that conversation maybe just give us a brief of what it is you then did okay so a long story short I work for a property development company and my company is currently development out of Thomas at waste so yeah it was always been it's it's it's which it is a challenge to find the correct deal to find you know something that will something that you can afford to buy and after my conversation with Nigel Nigel just brought it up to me also what I did also what development and then you said okay why don't you just have a chat with your director and ask if you could get a deal and the deal is getting a securing one of our units at cost price so I initially I won't lie was quite skeptical I actually after my Zoom call with Nigel I gave my director call and I asked him the question up straight look are you willing to give me a one of the units at the cost price and I was surprised he actually said it yes so yes that will be taking place we start with construction end of April so yeah this year that will be one of the deals that I will be securing and yeah maybe it should be actually my first property you know I'm just so glad so it really warms my heart that just in one conversation with you we were able to see and secure a deal in fact I remember that day when we were on the on the Zoom call and you said your boss was going overseas or something the next day so I said well there's no time to waste let's stop the score go talk to him now and then you what's happy like to say the deal is done you got one of the property so I yeah I'm just so glad that we were able to be part of that journey as well where you are now within a couple of months of being in the program you've already secured your first deal and hopefully that will just help you to grow from strength to strength because once that development is done most likely because you got it at cost when the when it's complete that property will probably be worth about 40 percent more than what you bought it for so you can either sell it make take the profit and then buy your next make your next deal happen or leverage it in order to then take the capital there the equity that is left in it in order to then go and do your next deal so instead of selling and buying and one more you can actually use the equity to buy a second property and start building your portfolio rather than start in your portfolio over again so I'm very glad that we were part of that that deal as well so congratulations on that so let's jump to your land your land and you and I also had such a similar conversation except that your properties were actually already in your hands and that I told you to do something else just give us a brief of what that conversation was about and where you are at with that process at the moment so I actually had a board land in 2014 with the with the normal this is what people do you buy land you're like I'll build my retirement house there one day and then obviously I'm far from retirement so I was like it's still there but we're actually going to stop building developing that land too lit so that it can start generating money and me not just paying the rates every month and be like it's fine it's paid for it's okay um there's also different pockets of land that are discovered through the edb if that you can actually build more than one prop one house on one property so using that idea there's lots of homes available with big backyards and so we are going to delve into that space with them can I say the name of the company that you gave me so I'm going to be in contact with but prop just to see what that structure is about and how we can actually go about developing places for people that's affordable to live in whether it's a backyard development or starting a whole new development on a random piece of land that the council's not doing anything like yeah that's awesome yeah no but prop is one of those organisations that support the edbf program we've got 56 such companies that either support through services or funding like but prop does um and everybody who's on the program have access to these companies whether it be quantity surveyors town planners architects lawyers account and tax consultants you guys have access to all of those people at a hugely discounted rate and in some cases they don't even charge for the services that they give you so I'm very glad that we could at least give you that kind of support and hopefully that will allow you to build not just on this one piece of land that you've got but on many such properties I know you for example with your sister you've also got a family piece of land with the building on it that you we spoke about possibly building on there as well and many other opportunities that you that you potentially have so while I have you now let's let's ask you the next question so what is going to be your strategy and I think because of time we're going to end with this question for everybody now that you've been in the program for a couple of months couple of years for the rest of the guys what is your strategy going forward what are you going to pursue you from a investment perspective so I'm going to start with buy to let but with the eventual like the end goal is going to be developed to the develop the solid develop to let it depends on how the how the world goes but I definitely do want to get into building affordable houses in spaces that people actually need to be so if you walk 60 kilometers away from home there's a piece of land close to where you are I can build your house for you to also print your strategy going forward well yeah no literally my main thing is just going to be focusing on cash flow so single residential will then later focus on multilets commercial space of course is like everyone knows is standing a bit still at the moment but yeah ultimately becoming a property full-time property investor en developer so we are and currently working to do that on a larger scale you know locust housing focusing actually across the entire locust housing or so to say houses for a middle class as well and I don't think I'll probably move into the upper class but yeah focus on middle and lower classes awesome that's a that's a good strategy to be in because that sort of area or range between sort of the 450 and 1.4 million and that's a really where you want to be because that's where the huge demand is at the moment so fantastic and I'll be happy to help you in that journey to achieve your goals as well kanja what is your your sort of strategy for the future I know you're now moving into multilets but we also spoke about possibly going into some commercial as well yes Nigel so my strategy besides now just building the the multilets business as it is and scaling it up with a particular focus on student accommodation but the plan is also to go into development especially now you I mean thanks to you at EGPF you mentioned the that the DPSA is actually looking to increase the student housing stock in South Africa so the plan now after just growing the current multilet portfolio will be to say to to estate agents please find me a plot of land not too far from the university and then obviously I would like to prepare a proposal with the help of EGPF so that we can get the funding from DPSA so that is the current strategy going forward and also when you also introduced us last year to to upstart future rental income they will also be in the picture when it comes to scaling the current multilets business fantastic that is awesome okay can you see me I know where you're going because you want to build plenty of these blocks of flats hopefully with the help of the partnership fund and other institutions but give us a clear understanding what is your strategy going forward so my strategy is also affordable housing I'd like to be as close to the inner cities as possible even in the inner city itself and you know I'm not sure if I have the stomach right now to do a green field but I would love to do a conversion even if you know it's about 100 units at once but I just love to do a brown field yeah so really that's where I'm going multilet I'd love to look at student accommodation I thought after COVID that market was done for but it's interesting to hear that it's growing again in this demand so yeah I'm going to look at opportunities there fantastic the amazing thing about student accommodation there's always a familiar bed short so there's always demand in the student accommodation space which is fantastic Dwayne your strategy I would assume that your strategy is interlinked with Marx because of your company but what is your strategy going forward so our strategy is with the current business that we have is to do multilets we initially wanted to buy to let but we discovering or we prefer the cash flow that the multilet offers you so that would be our strategy in terms of that business and with regard to the other business we're looking at I would say affordable housing and student housing as well and then obviously trying to put the project together for DBSA we're going to be the first guys in Cape Town fantastic Mark you guys are busy working on a project in in which you're playing as well so affordable housing sort of is your thing at the moment that is that going to be your strategy going forward or do you have something else in mind you've created a monster Nigel with you opening up my eyes and having my back you know I've got confidence to go into bloody anything sorry do everything or anything but at the moment you know the the sourcing that's what we're doing at the moment in Mitch's plane DBSA multilet anything if there's an opportunity we are willing to tackle it because you know you've got our back if you in doubt call Nigel you aren't you a call Nigel and I think on that note thank you very much everybody Mark, Dwayne, Yolanda, Kani Sile, Kania and Brent for joining us on this wrap up of the 50 day challenge on our final week and our final wrap up thank you again to Matt Owl and and Jared Ricketts who has been part of this journey for the last 10 weeks and thank you mostly especially to Private Property for supporting us in this program and for allowing us this platform to speak to the public about how you too can start your property journey in 50 days if you want to know any more join us on our website www.edbfpropertyacademy.com where you can get there some free training there or you can join the academy and get your Huawei 10 inch tablet with 20 gigs of data per month and all the learning hundreds of hours of learning and as well as support services access to opportunities and access to finance for the last time this is Nigel Adrienso of the EDPF Property Academy signing off for the 50 day property challenge and good luck to you as you build your property portfolio sadly we've come to the end of the EDPF 50 day property challenge brought to you by EDPF property academy and private property we've run our competition again and the winner for this last round is Kumeshini Gobansami congratulations Kumeshini and welcome to the EDPF Property Academy family what you have won is access to the EDPF academy support services our 10 inch Huawei tablet and 20 gigs of data for 3 full years as you enjoy your experience with us we are hopefully going to be able to help you to build your own property portfolio but for those of you guys out there that have been watching faithfully thank you for being with us thank you for enjoying these 50 days with us and we hope that you also have started your journey into property investment for the very last time this is Nigel Adrienso saying goodbye on behalf of the EDPF property academy and private property