Book Review: Making Money Out of Property in South Africa
Author: Jason Lee
Full Title: Making Money Out of Property in South Africa
The approach set out in “Making Money Out of Property in South Africa” focuses on the speculation of property prices over the short-term. It involves buying to renovate with borrowed money and then selling the property to make a profit as fast as possible.
It’s an approach that I am sure the author has made quite a bit of money from however I do not consider this as a skill that is easily transferable to the average middle class individual as it requires an experienced hand in project management and opportunity seeking – although I am sure he would say I am wrong.
There is something about the book that felt rather dubious it never touched in detail the risks of such an approach. No plan of action if things don’t work out as you intended and no warning as to how your finances should look if this approach is something you are thinking of. I understand that the book is trying to sell a particular narrative but I think when it comes to the buying and selling of something as costly as a property it is an important factor.
“My first property transaction changed my life forever. In 12 short and exciting months, I made more money than I had earned working as a qualified professional for two years. My eyes had been opened.”
“The secret of success in property is to get in early and get out early.”
These quotes make me feel that the author is looking to attract people who are looking for easy money. And the approach detailed in the book is just simply not easy money. It requires a tremendous amount of practise and confidence to be able to execute this strategy and in my opinion should definitely not be the default approach to making money out of property.
I give this book 2/5 stars.