Euphonik shares insights from his property investment journey
Not just a musical maestro, DJ Euphonik aka Themba Mbongeni Nkosi is a savvy property investor with an impressive property portfolio and a passionate advocate for property as an accessible investment with exponential growth potential. Nkosi shared insights and learnings from his own property journey with us.
Euphonik aka Themba Mbongeni Nkosi. Image source: Facebook
What is it that you find so appealing about property as an investment vehicle?
Humans need a place to live, work and play. Property rarely loses value and it's hands down the best wealth creation tool.
What influences your buying decisions?
Personally, I like residential property so I look for opportunities in that field first. After that, it's the best deal, the right location and what the potential future growth of that area is.
Have you ever made any property investment mistakes?
Absolutely! The first few student apartments I bought were completely wrong. They had no capital gain after five years of me owning them and so the cost associated with owning them made no sense.
What was the most challenging aspect of entering the property market?
Knowledge. Gathering all the necessary knowledge was an uphill experience. You don’t actually realise how intimidating the property buying process is until you start looking. And it gets even more complex when the paperwork hits your table.
What's your best advice to young people looking to enter the property market?
Read up as much as you possibly can, watch YouTube videos, watch Property Matters with Euphonik on eNCA and consult experts like BetterBond. Also, it is important to not rush the process and put yourself under pressure.
What has been your approach to making money from property?
I’ve only been looking at and putting money into things I understand. Also, I want to do things that grow in value, and bring me a good income so I never lose on the initial capital I invest.
What's been your favourite property purchase to date, and why?
I bought a piece of land where I want to build my dream home within the next five years.
What do you know about property now that you wish you knew when you started investing?
I wish I understood interest rates and how to structure your life and business so you can buy right.
Is there a property you would never buy? Why?
Property is great because you can get detailed info on it before you even view it. So the ones I would never look into are the ones where the numbers and returns don’t make sense.
If you could own any property, anywhere in the world, what would it be and why?
Anywhere in South Africa. We are still growing as a country and I still have a lot of hope that things will only get better.
