South Africa is a thriving hub for innovators and entrepreneurial excellence, and Ridhwaan Basa stands out as a leading figure in bridging the real estate gap in the country.
A distinguished serial entrepreneur and celebrated property investor from Cape Town, Basa's journey is a testament to resilience and determination.
In 2014, he created online educational content for major companies, including Africa's telecommunications giant MTN. Despite the unprecedented challenges of the COVID-19 pandemic, Ridhwaan ventured into property investment in October 2020.
Facing personal adversity, including a severe battle with COVID-19 and subsequent pneumonia, he endured critical hospitalization and emerged stronger than ever, with a renewed commitment to his goals.
With an indomitable spirit, Ridhwaan quickly expanded his property portfolio to include 7 Airbnb properties and a 12-bed student accommodation facility.
His achievements were recognized in 2021 when he was awarded the Most Innovative Investor of the Year by the South African Property Investors Network.
By 2023, he had scaled his business to 16 Airbnbs, with 2 in Dubai and the rest in Cape Town, along with a new 50-bed student accommodation project.
This year, Ridhwaan was listed by Dubai Daily as one of the most promising property investors to watch by 2030. His journey is an inspiring example of overcoming adversity and achieving excellence in the face of challenges. Here, Ridhwaan Basa shares five investing tips for GQ readers.
Invest in a Mentor
Your education is inevitable, but the path you choose matters. You can either make costly mistakes on your own or invest in a coach who has navigated these waters before.
A seasoned mentor will help you sidestep pitfalls and accelerate your success. Given the choice, I always invest in myself.
Always Have an Exit Strategy
A well-defined exit strategy is crucial. If Plan A falters, a solid backup plan or clear exit clauses can save you from significant losses.
I always ensure I know how to pivot or extract value from a deal that doesn't go as planned. This preparedness is essential to safeguard your investments.
Master Financial Literacy
Understanding the numbers is fundamental to successful investing. You need to know what you're investing in and how it will generate returns.
If you can't accurately assess the financials, you risk making poor decisions that can lead to substantial losses. Never force a deal to work; the numbers should always add up naturally.
Trust Your Instincts
Once equipped with knowledge and experience, your intuition becomes a powerful tool. Trust your gut feelings—if something feels off, investigate further.
Your instincts, backed by education and experience, can help you uncover hidden issues and make better decisions.
Cultivate a Strong Network
Your network is one of your most valuable assets. A reliable team and robust connections can save you time, effort, and money.
With the right people around you, you can confidently tackle larger projects and access opportunities brought to you by trusted contacts. Remember, your network is your net worth