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Hi all
Ok i know most entrepreneurs have negative feedback about real estate investing because its Very slow. Ok but look at my situation.
After my parents passed i decide to build singe bedrooms studio apartments and i managed to accumulate to 16 units. Keep in mind, the property is paid up(no mortgages!)
The profits look something like this: $150 X 16 = $2400 (took me 3 years to build and my capital was under $2000)
My grand ma passed some time ago and left behind a tiny house and i decide to also build rentals on the property (no mortgage!)
The profits on the property look like this: $90 x 14 = $1260 (took me 16 months to build and i built those from the money i make at my first property)
Keep in mind this in South African townships. Well a township are not rural areas but are places situated next to towns and are also not suburb.
The average price on buying vacant land in these areas is around $4000; and can occupy up to 20 studio apartment units. each unit will cost about $1200 to build(including labor)..
(no taxes required, just power and water payments) this is due to the property laws not being so strict in township areas (no joke)...
This is a an almost passive business and works well for me the problem is Its slow and boring to scale up. There are a number of times where i went to start other businesses that i thought would scale up much faster but i ended back to investing in these rentals.
My question is ... Could this be my fastlane ??
Ok i know most entrepreneurs have negative feedback about real estate investing because its Very slow. Ok but look at my situation.
After my parents passed i decide to build singe bedrooms studio apartments and i managed to accumulate to 16 units. Keep in mind, the property is paid up(no mortgages!)
The profits look something like this: $150 X 16 = $2400 (took me 3 years to build and my capital was under $2000)
My grand ma passed some time ago and left behind a tiny house and i decide to also build rentals on the property (no mortgage!)
The profits on the property look like this: $90 x 14 = $1260 (took me 16 months to build and i built those from the money i make at my first property)
Keep in mind this in South African townships. Well a township are not rural areas but are places situated next to towns and are also not suburb.
The average price on buying vacant land in these areas is around $4000; and can occupy up to 20 studio apartment units. each unit will cost about $1200 to build(including labor)..
(no taxes required, just power and water payments) this is due to the property laws not being so strict in township areas (no joke)...
This is a an almost passive business and works well for me the problem is Its slow and boring to scale up. There are a number of times where i went to start other businesses that i thought would scale up much faster but i ended back to investing in these rentals.
My question is ... Could this be my fastlane ??
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