Own A Wireless Access Point With MySurfer

Minimum Contribution R1,500.00

Maximum Contribution R30,000.00

69%

R205,500.00

  R300,000.00   Goal

41 Funders

4.50 out of 5 based on 2 customer ratings
(2 customer reviews)

MySurfer

MySurfer, co-founded by Bongane Shabalala and Kamohelo Mzangwa, is an affordable internet service provider for students, offering packages as low as R250 for uncapped internet for a month. They partner with accommodation providers for students and install their access points (similar to a router) in communes and student accommodation.

They have been around for four years and have grown to R750000 in revenue and over 2000 students, from their humble beginnings of a single commune serving 10 students.

They Just landed the biggest provider of accommodation for students in Bloemfontein, which means they will need to install 200 access points in 175 properties. Earn R100 a month for the next 24 months when you buy an access point, that they will install in these properties, for R1500.

How It Works
  1. You contribute R1500 (or a multiple of it, maximum is R30000 for 20 access points) to this campaign.
  2. At the end of the campaign you become an owner of the access point which will be managed under The MySurfer brand.
  3. For the next 24 months, you will earn R100 per month, per access point.
  4. this will be paid out quarterly to you
  5. The entire payment process will be managed by The People’s Fund and Audited by SnB Chartered Accountants & Auditors ( Practice Number 966205)
  6. The People’s Fund will take 10% of the proceeds (or R10 per month) to administer this.
  7. You own the access point for two years and then it is passed onto MySurfer after this period.
Expected Returns

NB!! First & foremost, we need to declare that this does not constitute financial advise in anyway and that we have made our projections based on historical yields. Buying assets that will be run by a small business is risky and you should only commit money you are willing to lose.

The expected return for this project is R2400. Which means an annual return of 30%.

Put in the rand amount for the amount you would like to buy (Please ensure it is a multiple of R1500).

Out of stock

Campaign Closed

Category:
Campaign Creator
Name: bongane-shabalala-2
Nick Name: bongane-shabalala-2

2 reviews for Own A Wireless Access Point With MySurfer

  1. Rated 4 out of 5

    Sandile Sithole

    I am interested in understanding a few matters:
    • When I decide to invest/buy into one of campaigns that are on the go (MySurfer for example). When do I make the payment into your account and when do I start earning my R 90 per month (R100 less 10%)?
    • Have you guys looked at the tax side of things for the investor? The investor needs to have a clear distinction between income and capital repayment on all the money they ear during the 2 year cycle.
    • Can an investor be a company or do you only deal with individuals?
    • Are there BEE certification requirements for investing?

    And lastly, is there any way I could make the MySurfer ownership of an access point a more permanent solutions as opposed to the 2 years on offer? Can you speak to the guys at MySurfer about this or is just not an option?

    • admin

      Good day Sandile

      Firstly, apologies that it has taken this long to respond to you. Our system marked your comment as spam. We hope to serve you better in future. The answers to your questions:
      1. As so as you make put in the amount you want to contribute you are required to make payment. We take around a month after the campaign ends to install and execute on the purchase of assets on our platform. Then we pay you every 3 months post this. For example My Surfer ended February; the month of March was used for installation and the month June (April, May June would be the quarter) would be when you receive the payment for the three months (quarter).
      2. Yes we have, though each individual would need to talk to their tax consultant to see how this fits into their tax position. PS this is income and not capital gains. We will be looking at ways to make it far more tax efficient for people.
      3. Yes you can be a company or an individual
      4. No there are no BEE requirements for buying into one of our assets
      5. Currently for all campaigns it is not an option. But we will look at such means in future

  2. Rated 5 out of 5

    Tracy Crichton (verified owner)

    Just received my first royalty – well done guys this is a win for all keep going!

    • Admin

      Thank you Tracy!

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