Thursday, Mar 13, 2008
The shocking truth about buy-to-let investment clubs
MoneyWeek: The truth about buy-to-let investment clubs
Over the past few years, as UK property prices have soared, buy-to-let investment groups such as Inside Track have proliferated. But are they helping investors as much as they say they are? No...
Posted by damien @ 11:14 AM (411 views) Add Comment
3 Comments
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1. nopensionnohouse said...
"All told, based on the figures give to us by the firm, it seems that the average Inside Track client over the five years in question has bought 1.7 units at an average unit cost of £141,176.47. Although Inside Track notes that a member getting a 15% discount on a £200,000 property would recoup “the cost of membership many times over on the very first property”, on average it doesn’t work out quite as good as that. Let’s say you bought five years ago, stayed a member of IAP for three years and have made a profit of 7.46% profit. According to the company’s figures that would be a profit of £10,529.41. But at the same time they will have paid out £14,000-plus in fees to Inside Track. Not long now and they’ll be evens!"
Wow!
2. Landedgentry said...
Whats shocking is how gullible the mugs were who signed up for this course / club.
3. Letthemfall said...
Moral: never pay a bunch of chancers in suits to tell you something you could find out yourself for nothing. Heartening to know that dishonesty isn't illegal.