Why are Blacks Poor? The Jewish Interview!

Borrowed from the Internet:

INTERVIEWER: Why are blacks so behind economically?

JEWISH LEADER: The only aspect blacks understand is consumption. Black people don’t understand the importance of building wealth. The fundamental rule is to keep the money within your racial group. We build Jewish Business, Hire Jewish, Buy Jewish and Spend Jewish.

There is nothing wrong with that, but it is a basic rule that blacks cannot comprehend and follow.

“He kills his fellow blacks daily instead of wanting to see his fellow blacks do well”. 93% of blacks killed in America is by other blacks.

Their leaders steal from their people and send the money back to their colonial master from whom they borrow the same money from – at an interest!

Every successful black wants to spend their money in the country of his colonial masters! They go on holiday abroad, buy houses abroad, school abroad and hospitals abroad… instead of spending the money in their country to benefit their own people.

Statistics show that Jew’s money exchanges hands 18 times before leaving his community, while for blacks it is possibly a maximum of once or zero.

Only 6% of black money goes back to their community. This is why Jews are the top and blacks are at the bottom of every ladder in the society.

Instead of buying Louis Vuitton, Gucci, expensive cars, shoes, dresses, houses, etc. blacks can industrialize Africa, build Africa and get rid of colonial institutions by putting them out of business.

INTERVIEWER: What are your thoughts on failure of blacks economically?

JEWISH LEADER: Well, nothing is the Black Mans fault. His compulsive habit of killing his own, compulsive material consumption, his inability to build businesses or preserve wealth is usually somebody else’s fault!

INTERVIEWER: So what can Blacks do to liberate themselves?

JEWISH LEADER: Blacks must take responsibility. They must unit and vehemently fight corrupt leaders who run down their country! They must run to IMF borrow to build their country as though IMF was father Christmas!

www.chombachuma.com

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Build a Legacy, Touch Freedom

We are living in a golden age of OPPORTUNITY in South Africa!

Property and Real Estate investments have never been more accessible to the general public than today! It is your time to claim this Right! To do this, you need the knowledge and skills. You need to get this book before you get started on the journey of Property Investment! It is the definitive guide to  investing in Property in South Africa.

Have you ever thought of earning passive income through property? Or building a property portfolio to create wealth? It always sounds hard, intimidating and complex to say the least! You think that this is for the chosen few and you cannot do it on your own. This is a book that will change all that!

In this revolutionary, practical and easy-to-read book, Dr Chomba Chuma guides you through manageable steps on investing in property and building a portfolio. The idea behind the book is to build up passive income using a sustainable wealth to be left for future generations, thereby allowing the reader to leave a legacy that outlives them and benefits not only their children and grandchildren, but their future generations.


Author | Entrepreneur | Business Leader

The outline is based on six steps that the reader can follow to build their property portfolio. 

  1. Step 1 – The Property Investment Strategy
  2. Step 2 – Entity of Ownership
  3. Step 3 – Property Presentation
  4. Step 4 – Property/Mortgage Finance
  5. Step 5 – Property Registration
  6. Step 6 – Rental Management of the property.

This guide is incredibly insightful and makes property investment seem so much more approachable, even for the novice.

Setting Goals

Setting goals is one of the surest ways of achieving any success. Goal setting is a skill which all successful people have honed and learnt to utilize in their daily set of competencies that propel them towards continuous success.

I have not come across a successful person who did not know how to set goals. They have made it a natural, innate and instinctive part of their habits. They know how to break it down from a simple “Want to have” to the details of the actions to take on hour to hour basis. They then drill and focus on what needs to be done towards achieving the smaller steps that advance them towards sub goals (or milestones) and ultimately towards the definitive goal.

Goal setting is not just important, but crucial to fast-track your success in anything you do. No success can  be underpinned without a meticulous, detailed and thorough goal setting process, failure to which you plan to fail!.

Goal setting can be as short as writing them down on your diary at the beginning of the Year, Quarter or Month or as elaborate as a full business plan with time-sheets, expenses, income etc. This will help you remember what you want to achieve, amongst other goals in various spheres of your life. One of my best reading on how to achieve goals in life is “Goals” by Brian Tracy. I highly recommend that you get yourself a copy to learn more about Goals in life, not just in property investment.

Goal Quality

One of my key moments in the Goal Setting process was when I learnt about the quality of Goals that we set. It is easy to have a wish for what you want to achieve, but it is something else to have a burning desire and clear goal. This is a continuum that can be thought of starting from a mere wish to a passionate obsession “to have” or “attain”.

In one of my greatest reads (in fact audio) is by Wyne Dyer and Deepak Chopra that outlines these steps in a title of their book entitled “How to get what you Really, Really, Really, Really Want”. The Continuum is made up of four steps:

  1. Wishing – Some sort of longing, wanting, or just a thought. Most people will wish that they have a car, property, holiday etc. For instance with property, they know that this is a vehicle for wealth creation, but it ends there. This is what is commonly regarded as wishful thinking.

    They wish they had a second property to lease out; a few more that could give them passive income. In fact, the largest part of middle class population will know that property is a great ‘investment’ and that a sizeable property portfolio can guarantee you a great future income as well as a retirement plan.

    However, if not pursued further, it remains wishful thinking and will not materialize no matter what.

  2. Desiring – This is a notch higher than Wishing. The primary difference is that at this level, you are willing to ask. You more or less know what your aspirations are and the craving for achieving success has grown immensely as to ask.

    Asking takes different forms. In most cases, you look for books, courses, seminars and any information that you would use to actualize your dream. If you are reading this article, it is most likely that you are in this stage. A stage where you are not afraid to ask for help from people who have walked the journey before.

  3. Intention –At this level, the commitment is deeper and more profound. You do not only wish or desire, but internally you have devoted yourself to attaining a result.

    Intention is a very internal and self-searching. Two schools of thought come at this stage in how we demonstrate our intention.

    One is where intention is kept to oneself without informing the public or those around you. The argument here is that the minute you broadcast your intentions, then the ego sets in. Then you will need to do everything to protect the ego; your desires and intentions don’t belong to you anymore, but to the public. However, if you keep your intentions to yourself, as Wyne Dyer puts it, you execute them “regardless of the good opinion of other people”.

    The second one is where you let people around you know what your intentions are. In most cases, these would probably be people who are close to you, people willing to support you in your goals and those that have your good intentions at heart. The contention here is that such people will keep reminding you and helping you to keep a good track of your wishes, desires and goals and support you when in need.

    Both ways, intention gives your wishes and desires a meaning, purpose and aim.
     

  4. Passion – At this level of Goal setting, you are not wishing, not yearning but you know beyond reasonable doubt that you can achieve what you set yourself to achieve.

    Passion is the obsession and enthusiasm that makes you wake up early in the morning, and go to bed late at night. It is the zeal, delight and fervour of living something that has a higher meaning that just doing.

    This is the level that success breeds success; a level where failure is not an option and there is a knowingness from deep within that success is inevitable. Passion is what drives you to keep going in the face of failure and discouragement. It helps you pick up the pieces when everyone thinks that you cannot recover. It ignites, stirs and kindles that flame during the deepest troughs of failure and discouragement.

Make no mistake, passion also requires skill and action. You can have this burning desire but with lack of a skill set to achieve these goals, then the process will be lengthy and expensive.

Smart Goals

One of the most efficient ways of setting goals is to use the SMART criteria. This a universal and widely accepted ways of checking the quality of your goals. SMART is an acronym that stands for:

  1. Specific – Goals need to be very specific.
  2. Measurable – Your goals need to be measureable.
  3. Achievable – Goals set should be achievable and attainable.  
  4. Realistic – Your goals need to be realistic and genuine
  5. Time-bound – Without a time-line, then you do not have a goal.

Use this criteria to set your goals and check them against these five parameters.

If they do not meet this criteria, re-check again and make sure that they become more aligned with these five principles. They are easy to remember and can be used quickly and efficiently to analyse the quality of your goals. Remember, most people set goals, but the difference with high achievers is the quality of goals that they set. It is important to keep checking the quality of your goals against the SMART criteria as very often, we fall into the habit of setting poor quality goals.

Business Models and Property Investment Strategy

In the face of disaster, business models stand! What is your business model? Do you need one to build a Property Portfolio in Real Estate Investing?

 This is a question I get asked more often than not, but it is alarming to note that loads of the so called “Property Investors” don’t have any business model. To keep it simple I’ll interchangeably use Business Model and Strategy here although in the real sense, the two can have different meanings.

If you don’t know where you want to be, it is very difficult to know how to get there. That defines the importance of laying out your goals and the objectives of your investment (s). Once you have set the goal, then it becomes a matter of strategy to work out how you will get there in the simplest, shortest and least strenuous way possible.

There is almost no need to re-invent the wheel in real estate. However, it is best to pick the right wheel that will get you there and one that suits your needs best.

Let me layout a simple Property Investment Business Model that I have used consistently with stunning results:

  1. Define the Amount of Passive Revenue you want by end of year (or within a specific period)
  2. Layout your strategy to getting this Revenue (Business Model)
  3. 3.Get down to executing it.
  4. Mandatory Question – How does my property make me passive Income? – Under this:
    1. What is my cost structure – Income (Rental) vs. Expenses (Bond/Levies/Rate & Taxes etc)
    2. What is my net profit – Both realized (Rental) and unrealized (Capital Gains)
    3. When will I break even / live off the property / How do I intend to do this?
  5. What is my target audience for the Property I’m investing in?
  6. How well do I understand this market and is that one of my strengths?
  7. Can I reproduce this model, over and over through the years?
  8. Complement each other
  9. Need to understand a wide market of clients
  10. Too diverse and therefore cannot draw on the major strength of understanding your market

So what is this Business Model, we keep talking about? It is the consistent plan on how to Create, Build and Manage your property portfolio. The key word here is ‘CONSISTENT’. Most people think that they have a business model, but keep changing the plan to suite the circumstance; rather than focus on the circumstance to suite the plan.

A true Property Investment business model needs to meet a simple criteria:

If these questions are not affirmative, then there is need to re-check what you consider as Property Investment.

There is always a risk of having a wide portfolio of properties that don’t:

For more information visit our website www.mumbiproperties.com

How I bought a property without Mortgage Bond

I visited Mumbi Properties (Pty) Ltd 3 years ago when my bond was rejected by the banks numerous times. In the current economic circumstances this is not uncommon and with the NCA (National Credit Act) in full swing, it is becoming more and more difficult to get mortgage bonds for home purchase.

My situation was a bit different though. I had purchased a number of other properties before and still had one of the properties under my name and my wife’s name. Having invested in two other properties before, I was confident that the rental income from the other two properties was going to convince the funders to fund the purchase of a new property.

I found the perfect property! The seller was what is popularly known as a distressed seller.

The property was on a 1000sqm stand with 3 bed, 2 ½ bath property with TV Room, 2 lounge areas, new kitchen, expansive servant quarter and garage that could be converted into an extra storage area. My instant idea was to make it an office and this fitted my requirements perfectly. This is when I put an offer and a deposit of R100,000 from a purchase price of R750,000. Additionally, I had left some money for renovation and completion of the property from the previous seller which added up to R220,000.

To my surprise, the banks had other ideas. Probably due to my folly, probably due to my ignorance. First, I had too many mortgage bonds under my personal name – bad idea! Secondly, I was a business owner / self-employed – this is a high risk category for any mortgage application.

I therefore got declined by all the banks and could not secure what I thought was going to be a good property investment. Above all, my business was going to pay rental on this property that would go towards repaying the bond from the bank.

After much agonizing, Mumbi Properties came to the rescue. They informed me of this form of transfer known as ISA (Installment of Sale Agreement) where the seller finances the property over a certain duration. To my surprise, the seller unduly agreed and we proceeded to get the Conveyancing Attorney to structure the agreement. The agreement was structured to have an Occupational Rental, with NO monthly capital payments. The outstanding rates, taxes and utilities were factored into the purchase price. Any additional payments done during the period, went towards payment of the initial capital.

After 18 months of monthly payments, I had sorted out my ‘NCA’ profile and had more than 40% of equity in under the bank’s valuation. On applying for a bond, Standard Bank came to the party and offered the full bond on the remaining amount of the purchase price.

Were it not for Mumbi Properties perseverance, I would have lost the property. Now I have turned it into an office and would use them and the ISA process again anytime!

*Reuben GM

*Trustee of Ibmum Investment Trust

*True identity not Revealed.

 

MD of Vitabiotics and chair of KEDASA

 By KC Rottok | wednesday, 07 march 2012 16:02

“Given the challenges you face as an entrepreneur, I think it is equally important to sharpen your emotional IQ as you would with business expertise!”

 

I was first introduced to the name Dr. Chomba Chuma when it appeared in my inbox in 2007 inviting me to a presentation on South African property. A few days later I joined a small group that had come to listen to the owner of Mumbi Properties explain how to use trusts to create a property portfolio.

“I named the company Mumbi after my late sister,” he informed me when we met recently.

“I got the idea of forming the company when I had acquired my fourth property in the country and needed a vehicle to manage them. I figured that as my portfolio grew so would the company. Unfortunately we hit a rough patch when the recession hit in 2008 but things are slowly getting back on track.”

 Chomba was drawn to property investment because it allowed him to develop the passive income the industry promised by way of rentals and capital growth. The bulk of his time is taken up by his position as the Managing Director of Vitabiotics South Africa, a company he co-owns following a decision to venture into the business world after a career as a medical doctor.

 

“I ended up as a doctor due to the Kenyan education system,” he explained with a slight frown. “When I got good grades the system kind of dictated that I pursue either pharmacy or medicine. I pursued the latter at Moi University and on completion of my studies and internship I joined the Swiss pharmaceutical giant Roche. Six months later they posted me to Johannesburg as the medical director for Sub Saharan Africa.”

Chuma believes that moving with his wife Rispah whom he met in medical school made the transition less difficult. He worked for two years at the company before joining Sanofi Aventis as a national sales manager for a blood thinner. While at Sanofi, he established his own company called Lighthouse Pharma selling supplements through Dischem and independent courier pharmacies.

“In 2006, after a year at Sanofi, I felt that my company was doing well enough for me to take a leap of faith and run it on a full time basis,” he recalled, this time with a smile. “We were able to get more products into the Dischem chain of pharmacies and in 2008 we decided to make our company bigger by selling a majority stake to our suppliers Vitabiotics UK.”

When asked whether the move to full time business was easy, his frown returned as he explained with an air of seriousness what the trying times have taught him.

“I think one should go to a school of psychology rather than a business college when contemplating becoming an entrepreneur,” he advised. “I did a business diploma and later pursued an MBA which I thought would equip me for the challenges ahead. Well, that doesn’t prepare you mentally to be tough when sales are slow and you have to pay salaries.”

The biggest challenge that Vitabiotics faced was that of distribution. Chomba revealed that to get a product like Immunace to a place like Upington by courier costs more than the product itself. Hence it was a big break for the company when their products were approved for distribution through Clicks which has about 400 stores and 280 pharmacies nationally.

“That was a new beginning for us,” he beamed.

And speaking of new beginnings, I asked Chomba about a new association he has been at the forefront of founding known as the Kenyan Diaspora Association of South Africa (KEDASA).

“We had a meeting in May to form the association as an umbrella body for the many different Kenyan groups that exist in South Africa. The inaugural office bearers are drawn from these groups and so far we have presented our views to President Mwai Kibaki in Pretoria, hosted the Commission for the Implementation of the Constitution (CIC) and I represented the association at the meeting of Kenyan Ambassadors held in Mombasa.”

At the time of the interview, the association was also working on a plan to mobilise assistance for Kenyans who have been affected by the ongoing drought in East Africa.

“The association has a draft constitution largely borrowed from a similar association for Kenyans in Holland,” Chomba explained continued. “It will guide the membership and leadership structure as well as establish a continuous process for raising funds to make it self-sufficient. It is important that the organisation unlike the many that came before it outlives its interim office bearers.”

Conscious of the many organisations that have previously represented Kenyans in SA, I ask Chomba what makes KEDASA different.

“Being an umbrella body means that we essentially have corporate members including a number of churches, Prokey, KESABA, student bodies, KEFA and the Upendo Women’s Investments Group. Our approach is different seeing as we are not competing with these organisations but rather inviting them to participate in a collaborative effort. If you consider the success of the CIC meeting, belonging to an umbrella body facilitates communication as the different bodies bring in their members for each project.”

Chomba is a 36 year old father of two; daughter Lerato and son Tsepo. His plan is to establish a few companies in SA over the next decade that can run themselves without his involvement then return to Kenya to participate in national development.

 Article available online – http://www.expatriate.co.za/index.php/articles/38-profiles/124-kc-rottok.html

 

Vitamin Boost – Entrepreneur

BY XOLILE BHENGU, APRIL 02 2012, 10:56

Vitabiotics SA MD Chomba Chuma doesn’t regret switching careers from medical doctor to businessman. While working for a multinational pharmaceutical company, the Kenya-born doctor saw an opportunity in the SA market to start a company supplying complementary medicines.

“I started up with my own capital, buying Vitabiotics products from the UK and selling them in SA.” Chuma then formed a joint venture with Vitabiotics UK with capitalization of £100,000.

“It was simple but not easy. I made a solid case for SA and Africa as a market but the perceptions about Africa always weigh down on business decisions. However, after the first year and with excellent results it became easier,” he says. “Complementary medicines are huge in Kenya and Nigeria, where the market covers a wider group of products including herbs, homeopathy and traditional preparations.

However, Vitabiotics is in the vitamin & mineral supplements market, which is more scientifically refined.” He hopes the industry will eventually be regulated in the way that scheduled medicines are. Vitabiotics UK owns 80% of the SA business, which employs 13 staff and distributes more than 50 products through Clicks.

Chuma expects turnover of R15m for 2010 and is aiming for a bigger slice of the estimated R3bn market. “People usually base their affinity on either their knowledge of the company or the product; we want to see if we can combine the two.”

This article can be accessed from http://www.financialmail.co.za/fm/2010/11/11/entrepreneur—chomba-chuma

CHOMBA_CHUMA_Financial_Mail_Nov_201023.pdf

Building Wealth in Property

18-NOV-2008 | Maryanne Maina

MUMBI Properties helps clients protect their assets in trust structures, which enable them to accumulate an infinite property portfolio and eventually wealth in property.

 Seven teams of experts are brought in to set up the right structures for wealth protection and specifically to build a healthy property portfolio.

“The teams we use include: trust attorneys, trust accountants, risk managers, portfolio managers, real estate agents, property finance mortgage originators and rental management,” said Dr Chomba Chuma.

Chuma further explained his role at the organisation and how he landed in this industry.

“I am managing director of MUMBI-Wealth Evolution! and responsible for the overall strategic and operational running of the company. My work involves looking into the future, making decisions on our strategic alliances and planning ahead how the organisation should run. This involves planning, forecasting and providing overall direction for the group.

“I am also involved in the general coordination of the operational relationship of all the seven different divisions. I ensure that they talk to each other and work harmoniously to provide good service to all our customers within the company’s client base.”

Chuma is a medical doctor by profession, but real estate has always been his passion.

He graduated with a medical degree in 2000. After joining the pharmaceutical industry, he did a management diploma with Unisa from 2003 to 2004.

“Thereafter I joined Mancosa where I did my MBA with an elective in portfolio management. I am also a certified estate agent with the Estate Agency Affairs Board that oversees all the estate agency affairs in South Africa,” he said.

“After completing my internship and practising for a year, I was employed by a multinational pharmaceutical company as a medical adviser for sub-Saharan Africa.

“Immediately after, I started looking for property investments and bought the first few properties under my name. After two years, we started a mortgage origination company, Mortgage Africa, targeted at foreign nationals living in South Africa since we could arrange 100percent bonds on properties bought.

“This was my entry point into real estate. We arranged property finance for a large number of foreign nationals with work permits and purchased property.

“However, after a few years we realised that there was a need to provide properties to our client base as well. There was a need to have a fully fledged real estate agency to do this and we consequently registered MUMBI Properties for this purpose,” he said.

“I learnt about the use of trust structures, which could offer protection to my investments and assist me to get an infinite property portfolio. This bore the idea of MUMBI-Wealth Evolution!, which advocates the use of right structures, right experts and right properties to acquire an infinite property portfolio,” he said.

The company has more than 1500 clients and Chuma envisions enlarging this database in the future to include more people who are passionate about property as a way of creating and protecting wealth.

“My inspiration to succeed is driven by two things. Firstly, is to offer value to my clients and ensure that they succeed with their property investments. There is nothing more satisfying than a happy client who sings your praise (or the company’s praise) for a job well done.

“In addition, our clients are with us for the long haul. We both have an understanding that we shall manage their investments for a very long time, probably a lifetime. Secondly, the wealth and financial freedom that one gets from property investment is a major inspiration.”

It is crucial to have strong organisational skills to keep all the operations of the business running smoothly. A good command of financial skills is also important to keep an eye on the figures.

Most importantly though, is the passion for the work, a desire to succeed and motivation to keep going even in tough times.

Article available online – http://www.sowetanlive.co.za/sowetan/archive/2008/11/18/building-wealth-in-property