10 Jan 2013
Once in a while, one event can radically change somebody’s life. One example is Nozipho Tshabalala from Johannesburg who, at just 21 years of age, had one good decision turn into a fast-track to genuine wealth.
The year ended on a high note for her when she was announced as the winner of the Longain Affordable Apartments year-end giveaway, which was a fully paid-for 1 bedroom apartment in Zuurfontein.
The draw took place at a small event in the Sandton Hilton hotel. The auditors kept an eye on a barrel of numbered balls that held all of the qualified entrants’ hopes. When the number was announced, a loud whoop of delight made it clear that the winner was in the room – and she was happy.
On their website’s blog, Longain Affordable Apartments hailed Tshabalala's win as a perfect example of their wealth-building philosophy, saying that “her win is going to fundamentally change her life for the better."
If Tshabalala puts that rental income straight into her bond and keeps up her payments, she should settle her debt with the bank in 7 years, and save a at least R250 000 in interest. "She’ll own two properties and have saved nearly enough to buy a third one.”
The competition ran for the last 3 months of 2012, and entrants had to purchase an apartment through Longain Affordable Apartments to qualify. The company specialises in sourcing and selling low-cost properties to both investors and first-time home buyers.
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