When Themba Nkosi, aka Euphonik, decided to drop out of university – where he was pursuing a BCom Accounting degree – he says he made the decision because his heart wasn’t in it.
What he really wanted to study was his first passion – DJing – but at the time, there were no options available. So instead of pursuing the safe option, he opted to walk away mid-degree – a decision that led to his father kicking him out of the house.
As the story goes, Euphonik went on to make a success of his DJ career and the money from gigs began pouring in. He needed a good vehicle in which to invest his money.
He invested in his first property, a digs in Westdene, and he hasn’t looked back since. Today, he owns 14 properties in Joburg, the majority of which are student accommodation properties.
“I buy houses that are close to varsities and I rent them out to students. I’ve aligned myself with a lot of big property developers and I’m learning,” he told 702’s The Money Show.
A tip that he’s picked up about property investment over the years and a philosophy he swears by is being “area-focused” when it comes to buying property as an investment.
“So, with the type of properties that I look at, I’m actually very area-specific and area-focused. So, I won’t buy an apartment in Port Elizabeth or a vacant stand in Durban,” he said in an interview with Private Property.
“I focus on the area and if there’s a deal on a vacant stand in the area that I like or an apartment or a house, then I’ll invest, but I’m very, very area-specific with the investments.”
Euphonik recently went back to school to complete an online course in Property Development and Investment through the University of Cape Town.