Remember the rule of thumb is that if a scheme looks too good to be true...it normally is &
If somebody else it trying to sell you an unmissable investment opportunity rather than keeping the scheme for themselves...you have to wonder why? (I don't believe in altruistic investment advisers but I do believe in dodgy salesmen)
Landlord insurance - professional online rates
I recently responded to an ad on Gumtree where someone was offering a 10-year lease on a flat above a shop at a very attractive price. Further investigation revealed that the advertiser - who claimed to be the freeholder - was a bankrupt who had no right to sell the property or a lease on it! Fortunately it only cost me a couple of phone calls and an hour or two of my time to find this out.
ReplyDeleteI went to a property seminar about off-plan properties on some offshore island a few years ago.
ReplyDeleteWhen it came to the Q & A at the end, I asked "What's the risk?" The guy answered that there were no risks. That was the point I lost interest.
About 18 months later, I heard that the scheme had gone bust and the guy running the scheme had been arrested.
There are always risks with anything. It's a great question to ask, because legit property developers will be open about what the risks are.
Anyone who says there are no risks is lying or stupid.