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Soccer mayhem

2010-05-28 13:29
Dear Editor,

There are six hundred and some investors in Johannesburg currently rubbing their heads and thinking, “damn, what now”?

I am referring of course to the people who saw an “investment opportunity” in the Soccer World Cup accommodation area.

Match pulled out because they claim Capital (the SA middleman) could no longer meet their obligations, and Capital pulled out, because, of course, the money is no longer there. This leaves all the home owners in the deep end, because they have all had to make purchases and alterations to their homes, in order to achieve a 4 star rating.

Well, here’s the problem I have.

For one, if you are silly enough to sign a contract which blatantly favours one party, you kind of get what you deserve. I am no contract expert, but from what I understand, the contract has an exit clause, but only for Capital, not the home owners.

Second, you made an investment, you took a risk. The potential to make 30 to 50 thousand rand in a month for a capital outlay of around R5 000, no doubt swayed your decision.

There is no such thing as a quick buck. Your risk did not pay off, the venture has failed. Sorry, but sometimes, business works that way.

Sarah B

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