There’s an African proverb that says, “If you want to go fast, go alone, but if you want to go far, go together.”
This proverb is at the heart of the Property Magicians Stokvel (formerly - the Wealthy Ones Property Stokvel).
In the first 5 weeks of the Property Magicians Stokvel, we raised R331,000/ US$21,000.
What is a stokvel?
A stokvel is a community investment or saving scheme, in which members have a set goal and contribute an agreed upon amount every month towards to make this goal a reality. The members of the stokvel receive their capital payment and/or interest from the stokvel through out the investment period.
Stokvels are a key part of South Africa’s financial history, many Black people in the country grew up with parents who belonged to various stokvels:
Christmas stokvels - where the community would contribute money to buy groceries during Christmas
Funeral stokvels - where the community would contribute money for funerals
Most recently stokvels are being used as powerful investment vehicles where people are coming together to collectively pool money to invest in each other’s business ventures, land and property. With our individual resources we can only do so much but as a collective our individual resources can do so much more.
If I have a dream of owning property and can only save R1000/ US$100 a month, which would be R12,000/US$1,200 a year, in 5 years this would be R60,000/US$6,000 it could take me years to build a good property portfolio.
If, however, I decided to come together with 100 members of my community and we each contributed R1000/US$100 a month, we’d save R50,000/US$5,000 a month and by the end of 12 months this would be R600,000/US$60,000.
We could use that money to buy a property in South Africa and then refurbish it and refinance it and buy an even bigger property in year 2. By year 5, we could each own an apartment or 2, depending on the investments we made.
Our great grandparents, grandparents and parents understood the importance of collective investments and the power of collective funds and we are now starting to understand it in property as well, this is why Property Magicians Podcast has launched the Property Magicians Stokvel (PMS).
We, Vangile and Dr Miranda would like you to be part of this stokvel and our wealth creation journey.
What is the Property Magicians Stokvel?
This Stokvel is open to anyone who wishes to invest in immovable property and share in the returns earned from property investments. The stokvel is open to all individuals globally.
The Mission of this Stokvel is:
To seek profitable investment opportunities
To create and preserve generational wealth
To share the wealth that is acquired from property investment
To provide property investment education
The Stokvel will appoint an Executive Committee that will execute the strategy of the Stokvel and will also appoint an administrator to assist in the day to day duties of the stokvel. Accountants, auditors, attorneys and other partners will be appointed when necessary.
How will the stokvel create wealth for its members?
The Property Magicians Stokvel will seek property investment opportunities that will provide returns in the form
Interest Income
Dividend Income
Capital Gains Income
In the short term, the Stokvel will seek opportunities for passive income through partnerships, joint ventures and fractional ownership schemes that will provide returns of at least 10.5% per annum, which will be subject to annual review as market conditions change.
Members will qualify to receive disbursements once at least R10 000/US$700 has been contributed and they have been a member for at least 6 months.
In the long term, the Stokvel will build a property portfolio with the aim of having property portfolio with various income-generating assets. The goal is to have assets, locally and offshore, of at least R250 million (US$17 million) in the initial five years.
Yes, we're shaking and a little scared and excited about this figure as well but we understand one thing - alone, this goal may be daunting and may be impossible to fulfill.
But as a collective holding the same intention, this goal is possible to achieve and maybe even surpass because as the African proverb says, "If you want to go fast, go alone, but if you want to go far, go together."
We launched the Property Magicians Stokvel, not because we want to go fast, but rather, because we want to go far and we’ve spent enough time within the Wealthy Money community to know the power of the collective when it comes to financial breakthroughs.
We’ve also seen the power of the collective when it comes to holding a collective vision or intention, so we thought - what if we use this collective power to create generational wealth through property where we can all own assets and also collect passive income for years?
What becomes possible for us a tribe and as individuals when we hold and act on a collective clear wealth intention?
What could a group of wealth focused individuals birth in 5 years if they held a collective intention?
What legacy would we leave our descendants then?
How does membership in the Property Magicians Stokvel work?
The Stokvel is open to investors from all over the world.
At the appropriate time, we will set up the appropriate entity/ies wherein the assets of the Stokvel will be held.
The members of the Stokvel will make money and a return on investment from the assets that will be held by the entity/ies.
To join the stokvel, you will be required to pay R1 000/ US$100 as a non-refundable joining fee. This joining fee is not a contribution and will be used to cover the initial costs that the stokvel may incur, such as legal and administration costs.
This joining fee may be reviewed for any members who join on or after the 1st September 2022 and won’t be used to offset bank / platform charges for deposits and withdrawals.
You will also be required to complete an enrolment form and supply the Executive Committee or Administrator with your personal details.
All contributions will be made via the Stokfella app. The Property Magicians Stokvel is on the Stokfella app.
There will also be one annual general meeting and quarterly meetings for members to attend and discuss the latest deals that we can invest n. Members will also be kept abreast of any new development via email.
The Team behind the Property Magicians Stokvel
Chairperson: Vangile Makwakwa
Duties of the Chairperson
To lead and prepare the agenda for meeting
Make sure rules are followed
Approve any financial matters, in consultation with the other members
Explore opportunities for enhancing the group’s practices
Develop a strategy and implement systems and structures in the business
About Vangile
Vangile is the founder of Wealthy Money and Wealthy Money Academy and is the host of the Property Magicians Podcast and Money Magic Podcast.
She helps women of color heal ancestral money trauma so they can fall in love with their bank accounts, increase income and live their best lives.
She has a finance honours degree from UCT (University of Cape Town) and an MBA from the Simmons School of Management in Boston, MA and started her personal finance journey by paying off US$60,000 in debt.
She is a nomad and has lived in over 10 different countries.
Through Wealthy Money, she’s hosted and facilitated international retreats and workshops in Thailand, South Africa and Sri Lanka for women from various countries.
She is also the author of Heart, Mind & Money: Using Emotional Intelligence for Financial Success and was the financial literacy speaker for the Sanlam Youth Segment from 2014 - 2016.
She is also the host of the Money Magic Podcast where she interviews guests on ancestral money trauma and talk about all things personal finance, trauma and money mindset.
Treasurer: Dr Miranda Moloto
Duties of the Treasurer
Keep accurate account of all the group’s finances, including preparing an income and expenditure report
Manage the process of collection of contributions from Stokvel members and distributing disbursements to qualifying members.
Have signing powers together with the chairperson and secretary
Source profitable deals for the stokvel
About Dr Miranda
Dr Miranda Moloto is the co-host of the Property Magicians Podcast- a platform meant for educating communities about property investment and ownership.
She is also a property investor, fundraiser for property developers, the founder of PropDocMom and is a mentor for newbie property investors, taking new investors from curiosity to buying their first, second or third properties.
She graduated from MEDUNSA (Now Sefako-Makgatho Health Science University) and chose to pursue her medical career in non-clinical specialities. Her post-graduate studies include: Occupational health, Telemedicine and Public Health.
She has spent the past 22-years working in various corporates as an Occupational Medical Advisor and Technical Advisor in public health.
Her experience spans many industries: Food Manufacturing, Oil & Gas, Steel manufacturing, cosmetics and personal care manufacturing, motor-manufacturing.
Her insatiable appetite and curiosity for knowledge led her to study Telemedicine and work on a DigitalHealth platform.
Her curiosity and the love of new places landed her in Qatar (Middle East)-an experience she cites as one huge cultural and spiritual adventure, that has left an indelible impact on her personally, spiritually and professionally.
What matters to Dr Miranda:
Access to healthcare and social justice. Everyone deserves good health
Dignified affordable Low-cost Housing- because everyone deserves a good space to rest and call home!
Teaching brown people the value of property investing and wealth management- in a language they can hear!
Lastly, Girl-child education.
Secretary: Penelope (Penny) Mfeka
Duties of the Secretary
Keep an accurate record of the group’s activities, namely minutes, correspondence and membership register
Maintain communication to ensure all members are informed of all activities of the group
Have signing powers with the chairperson and treasurer
Set up of meetings
About Penny
Penny is 20 years old and describes herself as an outgoing, fun and adventurous person who enjoys life in general. She’s a hardworking individual who takes pride in her work and all the crafts of her hands. She has worked in many different roles like Bookkeeping, Admin assistant and Event Supervisor. She believes no task is too big to accomplish if you have the drive and determination. She has and continues to work with companies like Sakhisizwe Property, Tummah Trading and The Station.
How do you join?
If you are based in these 4 countries: South Africa, Namibia, Lesotho or Swaziland:
Please go to Google Play or iTunes to download the Stokfella app and join as a member and then search for the Property Magicians Stokvel and request to join as a member.
Once you’ve been accepted as a member, do an EFT transfer from your bank into your Stokfella account, using your unique reference number.
Here is a short video clip from Stokfella on how to do the transfer: https://youtu.be/EKOTzdYpbJM
If you are not based in the above mentioned 4 countries: you have to pay money into the Stokvel bank account and we will invest the money directly into the stokvel account using Transfer Wise (wise.com) and send a proof of payment to: vangile (at) wealthy-money (dot) com.
You will receive monthly updates of your investment every month.
Here are the company bank details for international transfers:
Bank: FNB (First National Bank)
Name: WealthyOnes (Pty) Ltd
Branch Code: 250 655
Account Number: 62913695857
Swift code: FIRNZAJJ
Bank Address: 6th floor, 1 first place, Simmonds street, Johannesburg, South Africa, 2001
Company Address: 7U Wilhemia Avenue, Johannesburg, Gauteng, South Africa, 1715
After you do the transfer send a quick email with your name, phone number, email address and Proof of Payment to Penny at: stokvel (at) wealthy-money (dot) com
If you haven't already done so...join the What's App group
We've created a Property Magicians Stokvel What's App Group and would like to invite you to join.
We want to try to keep email updates down to no more than 2 updates a month and use What's App for general updates and announcements, like when Dr Miranda has goes to a building site and decides to do live videos on there.
You can also use the What's App group to ask questions (some questions affect the whole group and are valuable to ask).
To join the What's App group, please click on the link below and ask to join: wealthy-money.com/whatsapp
Fill in the form below to learn more and to stay in touch with us