MorataBW
This first issue of MorataBW is filled with the latest business opportunities in Botswana, one of the fastest-growing economies in Africa. For this issue, we profile local business success stories in tutoring, agriculture and music: Thobo Khathola reveals all the details about his humble building of Lion Tutoring into a tutoring empire. What's the story behind the breakthrough of Botswana's iconic singer Maxy-Khoisan? Did you know that she grew up not knowing she will be a singer? How about the poetic 'I Can't See My Face Anymore' Painting? The editors show you all that is to know about mortgage, is it an investment or a liability? And also the story behind the notorious car catalytic converter theft, why it is stolen and how to prevent it. Also reviewed: The baking industry - How to start a successful bakery business. The best bakers in Gaborone chosen by consumers. A review of WhatsApp rivals; Telegram and Signal: Do these offer more personal data security over WhatsApp as said? We also tap into the mental attitude that one needs to be a successful entrepreneur, the health risks that entrepreneurs face, and the best Personal Development Android Apps of 2020.
This first issue of MorataBW is filled with the latest business opportunities in Botswana, one of the fastest-growing economies in Africa. For this issue, we profile local business success stories in tutoring, agriculture and music: Thobo Khathola reveals all the details about his humble building of Lion Tutoring into a tutoring empire. What's the story behind the breakthrough of Botswana's iconic singer Maxy-Khoisan? Did you know that she grew up not knowing she will be a singer? How about the poetic 'I Can't See My Face Anymore' Painting? The editors show you all that is to know about mortgage, is it an investment or a liability? And also the story behind the notorious car catalytic converter theft, why it is stolen and how to prevent it. Also reviewed: The baking industry - How to start a successful bakery business. The best bakers in Gaborone chosen by consumers. A review of WhatsApp rivals; Telegram and Signal: Do these offer more personal data security over WhatsApp as said?
We also tap into the mental attitude that one needs to be a successful entrepreneur, the health risks that entrepreneurs face, and the best Personal Development Android Apps of 2020.
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MBW| PROPERTY<br />
investment. In that way, you are<br />
borrowing to create cash flow, and<br />
you can increase your monthly<br />
instalments to reduce the total interest<br />
paid. Borrowing against your house<br />
for things that do not generate a cash<br />
flow is not advisable, such as buying<br />
a car. But, it is a different story if you<br />
use your house as security to buy a<br />
bus, rather borrow to generate money.<br />
Create good debt instead.<br />
Let’s say that you take a P1 Million<br />
mortgage to build a property that<br />
brings in P18,000 per month (10<br />
bachelor pads at P1,800 rent each<br />
unit per month).<br />
Then instead of paying P8,178, you<br />
pay monthly instalments of P12,000<br />
or up to P15,000.<br />
This will allow you to cut the 20 years<br />
to at least ten years, thus reducing the<br />
total interest paid by half. And by the<br />
time you finish paying the mortgage,<br />
not only do have property but can<br />
amass P216, 000 ($19, 980) annually<br />
in revenue. With this, you can acquire<br />
more property and gradually increase<br />
your cash flow to more than<br />
P1,000,000 ($93, 000).<br />
WHAT IS THE BEST WAY TO OWN A HOUSE?<br />
Note that the bigger the house, the<br />
bigger the expenses.<br />
You may have to hire a garden boy,<br />
the house helpers, security and<br />
many more. All these deduct from<br />
your salary plus the mortgage, car<br />
payments, school fees, and your takehome<br />
gets little.<br />
There isn’t a straight cut way to own a<br />
house, and it all depends on individual<br />
circumstances. However, from a<br />
Your home is your<br />
bank’s asset if<br />
you could read a<br />
financial statement.<br />
- Robert Kiyosaki<br />
Mortgage repayment plans at the ABSA and Standard Chartered Banks.<br />
* These amounts are derived from the banks’ Home Loan Calculators as listed on<br />
their websites as of 04 March 2021. The Monthly Repayments, Interests and Final<br />
payments are approximated and may be subject to change at the banks.<br />
* Using the Simple Interest Formula gives different and higher total interest<br />
amounts.<br />
business point of view, it is advisable<br />
to have something that finances your<br />
dream home, some cash flow on the side<br />
to relieve you of all the house expenses.<br />
Have something pay your mortgage and<br />
cut your payments at least up to 50%.<br />
ABSA BANK<br />
STANDARD CHARTERED<br />
AMOUNT: P1,000,000.00 P1,000,000.00<br />
DEPOSIT: P100, 000.00 UNSPECIFIED<br />
INTEREST: 10% UNSPECIFIED<br />
PERIOD: 20 YEARS<br />
MONTHLY PAYMENT: P8,685.00 P9,485.17<br />
ANNUAL PAYMENT: P104,220.00 P113,822.04<br />
TOTAL PAYMENT: P2, 084,400.00 P2,276,440.80<br />
TOTAL INTEREST: P1,084,400.00 P1,276,440.44<br />
You may even consider renting out your<br />
mansion and rent in a cheaper house<br />
until the mortgage clears. But then we<br />
all have different preferences, and some<br />
people find convenience much better<br />
than saving a couple of Pulas.<br />
MBW<br />
16 <strong>MorataBW</strong> March 2021
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