Topic-icon Where can I find R30,000 quickly?

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13 years 5 months ago #37894 by Tokoloshi
How many times have you asked yourself this question over the last couple of years hey?

Now, I don't want to get into the discussion about what the conditions, the purposes, the morals or anything. I just wanted to talk about what are the ways that you can get 30 Grand quickly.

If you have ever been in a position where you urgently needed to find some money, then maybe this posting would be of help.

So, maybe we can all say how we would individually find 30Grand quickly and legally.

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13 years 5 months ago #37895 by Tokoloshi
You could "google" on the terms "unsecured loans", limit the search to South Africa and find people who will give unsecured loans to the tune of about 30k

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13 years 5 months ago #37896 by Tokoloshi
Before you get 30k, you must know how you intend paying it back. So you need to go into a loan calculator and work out the monthly repayments.

For example R30k paid over 5 years will cost you about R890 per month, which is a lot easier to find that the R30k

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13 years 5 months ago #37898 by witchdocta
Tokoloshi..

uhm...
You can try horse racing dude.. I "know" of "someone" that made a substantial amount of money by just betting R100 here and R200 there.

But its totally up to u.

Da Witchdocta
:evil:

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13 years 5 months ago #37900 by Torusso
Go diving for perlemoen!! or if you have R1000 to waste the best bet would be 6 and neighbours! Roulette!

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13 years 5 months ago #37958 by Kazoom
Torusso, witchdocta, you guys seem to have missed the point of the original post completely. This is about aquiring funds in a legal and risk free manner, the only risk being the repayment. Being an unsecured loan, you will most likely be paying the maximum interest rate as prescribed by law.
If you have been following some of the posts in this forum, the idea is to access funds with the aim of investing it. TK has been asking BO's to pool their funds, in order to take advantage of investment oppertunities needing huge amounts of cash, not open to the small investor.

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13 years 5 months ago #38085 by Dylan
This depends entirely on the reason I needed the cash.

I'd probably split the amount - the first place I'd look is family. Little or no interest on the repayments.

Then I suppose I'd go to my bank, see about a personal loan. Although I did read somewhere about not taking a loan to invest because the returns would have to be fantastic to cover the interest I'd pay the bank back. But if it were an emergency then yeah, thats where I'd go.

Like I said, if I were really stuck for cash I'd take one of those pre-approved loans people get sent all the time. Interest is a killer but its available quickly.

Might also dip into the savings which currently sits in a pretty low-interest account. Depends on why i need the cash.

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13 years 5 months ago #38281 by Tokoloshi
You could visit [url]www.directaxis.co.za [/url]

African Bank tends to keep their loans to about R10k max

Apply for a Blue Bean, Woolworths or Virgin Money credit card

Get 5 credit cards if you can only get a maximum of R6k per card.

======
It is legal and relatively easy.

Note:
1. before you use any of the credit, first figure out how you will pay it all back quickly, otherwise you will be looking for R60k in 3 months time.
2. NEVER use the R30k for consumables or stuff that you should be able to pay out of your normal income.

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13 years 5 months ago #38320 by Top Secret
Remember that creditcard debt got a very high interest rate for payback. I think it's currently at 17%. I'm not a fan for borowing on your creditcard to invest.
The idea almost have to be failproof to use debt for investment.
Like Tokoshi said, you need to determine how you are going to pay the monthly installment cause your initial investment will take time to pay dividends.
It will also mess around with your books. you need to know what you invest and how much you get out. Credit cards just complicate that and I can never understand how they work out the interest they charge.
Credit card should only be used as a convenience tool to reduce the amount of hard cash in your pocket.
That's my view.

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13 years 5 months ago #38636 by Tokoloshi
Let's just talk about this business of interest paid vs return on equity.

Firstly, ALL equity investments are different from speculative investment systems by 1 major factor - you have to committ your monies for a minimum of period that is in excess of 3 years. Typically it is for a 5 to 7 year period at the bottom end and it can extend up to 10 years at the top end.

Investing in equity in the South African context normally points you at the stock exchange in one way or the other.

Brait will go off and raise a couple of billion internationally and then come back and spend it on buying listed companies like Shoprite.

Typically, there are very few organisations that are actively pursuing equity investments prior to listing. The few that do so are typically not looking at the browner corner.

Now, organisations like BRAIT, Cape Venture Partners, Business Partners, HBD, Triumph VC, all look for organisations that are established, have a minimum of 2 years trading records and are willing to sacrifice a huge % equity.

The up-side of these investments is that their typical returns, when broken down into an annual rate comparable to an interest rate, is more often than not above the 23% mark.

So, a loan at 17%, paid over a 3 year period which buys you 30,000 shares at R1 per share in year one which is worth R13 when launched on Alt X in year 7 gives you what kind of return?

Let us assume that the total cost of the 30,000 shares, with the cost of financing and admin fees came to R46,000 over the first 3 years.

For years 4-7 you receive a dividend of 10c per share per annum, which works out at R12,000
for that period. It doesn't completely eradicate the effects of the interest, but it does compensate to a certain extent.

Still, when the company lists at R13 per share and you choose to sell 10,000 of your shares for a total of R130,000, can you explain to me how the initial cost of the high interest was a bad decision?

Sure, not every one of the business deals will have such a success story, but nobody has ever suggested that you put all of your eggs in one basket.

If you can put R30k into a side fund, don't commit it all into a single project. Watch where the guys with a bit more money are putting their money and commit only a % of your available cash. Repeat the exercise over a period of a couple of months until you have committed all of your investment capital.

In essence you are beginning to do, on a smaller scale, exactly what any fund manager is doing. The major difference is that we are setting up the rules from the beginning to favour a Bruinou with an idea.

Ideas are a dime a dozen, anybody can come up with 10 a week. Our growth as a coloured community is limited by the lack of funding to our people.

The returns that Angel Investors typically realise internationally are way higher than those investors that take a lower risk route, like RAs, Saitrix 40 and others.

The question therefore is purely how to reduce or mitigate risk, how to spread the risk across a manageable portfolio and how to tap into the resources available to the community linked in to the Bruinou.COM community.

The other very obvious question is: Who is going to make sure that nobody takes the money and dissappears into the sunset?

These are all extremely pertinent questions and require a little more than just a cursory comment here, so I will leave them for now.

The point I am making here is purely that when thinking of investing in a business idea and the person putting the deal on the table needs a minimum investment of R30k, sometimes it is a good idea, if you can afford R800 per month, to take out a loan that will give you the opportunity to get skin in the game.

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13 years 3 weeks ago #53244 by cooljazzcafe
Don't confine your search to South Africa. Almost everyone has access to a computer and internet connection. There are many international mentors and investors who are willing to lend money. And remember, 30,000 Rand converted into U.S dollars or Euros is not much money. It may be pocket change to many international investor.

30,000 Rand is only about $4,000 USD. In my own opinion, I wouldn't even be worried about losing my investment of $4,000 if the person I gave the funds to failed in the business venture. Failure is part of the learning process. Mentors (as opposed to angel investors) are willing to take a chance in losing thier intial investment because they often get to know the businessperson on a personal level through phone calls, faxes, and periodic visits. Lessons are learned, and the second venture is usually much more successful. That has been my experience as a businesswoman and mentor who has invested in many young businesses.

cooljazzcafe

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