Friday, Feb 05, 2010
Inside Track are back!
FT: Failed property club founders renew pitch
Less than two years after it collapsed into administration, the men behind the notorious buy-to-let property club Inside Track are back, targeting UK investors with a new get-rich-quick property scheme.
Promising that members can “make £100,000+ in five minutes” from BMV properties sourced at "up to £25,000 discount", a nationwide programme of seminars has begun to recruit investors eager to participate in the UK’s next property boom.
The new company, IAP Global, was set up by Inside Track's founders, and has access to the database of IT's 250,000 investors.
Posted by little professor @ 12:45 AM (980 views) Add Comment
7 Comments
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1. novice pete said...
They have repaired their nets, but are there any more fish left in the sea? I doubt sufficient stocks.
2. fallingbuzzard said...
I would guess that they are still trying to sell that hotel complex in Yorkshire. What a bunch!
3. little professor said...
This is the new service from IAP Global:
http://www.freedomportfolios.co.uk/
4. quiet guy said...
An investigation by the Financial Times sister publication, Investors Chronicle, reveals that participants are being encouraged to part with fees of more than £40,000 to acquire a portfolio of five UK properties from distressed developers, with IAP Global acting as the middleman ... Investors in IAP Global’s properties are promised a discount to market value of at least £25,000 on each property, described by the company as “instant equity” ... Mr McKay, group managing director of IAP Global, defended the company’s approach in a response to the FT, citing the recent rally in UK house prices. “It is a commonly known fact that house prices double every 10 years in the UK,"
Financial Darwinism. Spot the hunters and the prey.
5. brickormortis said...
I love the growth projections - simples!
6. mark wadsworth said...
Tee hee, speaking of "access to databases", yesterday, a local estate agent sent me (probably inadvertently) a list of all the people on his books who were looking for property, arranged alphabetically by their first names, together with mobile numbers and brief description of the type of property they are looking for.
I deleted it straight away of course.
7. Fly By Night said...
They do all the hard work to build equity for you? How kind of them! Why don't they just do it for themselves then? Because they want your 'investment', of course.
Why are these guys allowed to continue after Inside Track has been exposed?