When Wealth Alliance co-founder, Sylvia Milosevic, first started in property, she faced many challenges. In her early twenties, Milosevic invested in her first property, she went about it alone and made a few mistakes along the way.
Speaking to the #RealEstate show on Business Day TV, the property entrepreneur highlighted that when she purchased her first investment property, she had no idea how to ‘run it from there.’
“One of the challenges I had was dealing with difficult tenants. So, I didn’t know about evictions. I didn’t even know how to handle a tenant not paying rent on time.”
She has since learned that a credit check goes a long way. These are just some of the lessons Milosevic learned during her early investment years.
She also discussed the value in distressed properties: “You want to look for the worst property on the best street.”
To sum it up: look for a property you can add value to. View the interview below for a more in-depth look at the common mistakes made when investing in property.
Since her entrepreneurial journey and the establishment of Wealth Alliance, Milosevic has shared her wisdom with over 20 000 students. Her story serves as an inspiration and a reminder that no matter what your circumstances, you can still reach for any dream.
Born and raised in GaRankuwa, Pretoria; Milosevic had always been interested in the property market and always dreamed of one day owning a house. “I was just a little shy girl with big dreams and I always felt that I was meant for something great in life,” she told Fin24 while discussing her journey within the property market.
So, why did she become an entrepreneur and how did she start? “It all started with a difficult circumstance. My dad, who was employed by BMW, lost his job. My family was forced to change its lifestyle. I realised then that relying on one source of income (such as a job and a salary) is not the solution.”
Without time to wallow, she started thinking about other opportunities and how best to reach her goal of attaining financial freedom. This is where her interest in the property market started. She saw property as the perfect investment opportunity.
“I knew that, if done right, property can provide the lifestyle I desired and put me firmly on the path to financial freedom.”
About Wealth Alliance
Wealth Alliance is a wealth education organisation that hosts a series of seminars. The aim is to help South Africans build a strong relationship with their money. How? By hosting seminars to highlight where you can invest and grow your income.
The largest brand is Think and Grow Rich: A Lifetime of Riches in Property. Along with her business partners and property mentors, the business has focused on changing the lives of South Africans by giving them knowledge and education on property investment.
“We took a brand, Think and Grow Rich by Napoleon Hill – which so far has changed the lives of over 100 million people around the world using powerful principles that some of the wealthiest people in the world have in common – and we brought it to South Africa. We now apply these classic rules and disciplines of Think and Grow Rich in the sometimes uncertain world of property investment.”
The result is property investment seminars, which are held all over South Africa. Today, they’ve educated over 20 000 students and counting. “We’ve showed people with property experience who felt stuck in their property journey how to reach that next level and scale up their business.”
Milosevic comments that there’s been a gap in the market regarding property investment education, which is why they were gung ho about starting Wealth Alliance. People usually know very little about how property investment works. The majority only know about bank financing. But what about those who don’t qualify for a bond? That’s exactly where Wealth Alliance steps in. The organisation is teaching students how to invest in property regardless of their credit score or money in their pocket.
“We cover several profitable strategies that the average person can use right now in the South African market to achieve great success through property investing. And the beauty of our programme is that we teach people how to use other ways of funding property deals, aside from bank financing.”
The job doesn’t come without its challenges though. During her interview with Fin24, Milosevic noted that the main challenge is finding the right people to be part of the team. This is why she chooses mentors and coaches with a proven track record and a high level of expertise. This is to ensure that the students are given the best possible education.
“There is no greater success than when I have my students coming back to me to say thank you, because of you I have bought my first property. Because of you, I changed my life for the better. Nothing can put more joy in my heart than seeing my students succeed because of this programme.”
Why learning about property is important
The best way to become a successful property investor is to learn all you can about the property market. However, it’s not just about researching on the internet but learning from experts in the field. Here’s what you can do to help educate yourself:
To do your best, you need to learn from the best. You need to research and find a successful property investor – whether it’s within your neighbourhood or network. A mentor can help you understand the property market and provide you with strategies that have worked well for them.
Seminars serve as a great education and networking event to help you understand the ins and outs of the South African property market. Not only are you put in touch with potential mentors, but you’re also learning from their experiences. This is the best type of property education.
Why consider Wealth Alliance?
Wealth Alliance has been educating thousands of students for two years and has seen great success. Some of our students have gone on to start building their own property portfolios.
These success stories are a testimony that our seminars are valuable in upskilling individuals in their portfolio management.
What does the future hold for Wealth Alliance?
Expansion. As Milosevic told Fin24: “After we helped South Africa, the plan is to go international very soon.”
“Growth happens outside of your comfort zone. There will always be someone who is more successful and wealthier than you. If you are not there yet, my advice is to learn from as many people who are. We have these people in our powerful network and they are willing to teach you how to reach that next level. Remember that nothing is impossible. If someone was able to do it, you can.”
If you’re looking to get started on your property journey, we’re here to help. Book your seat at any one of our property seminars to discover effective strategies and advice from the experts – including Sylvia Milosevic. Book now!