Confusion of VIs Posted August 12, 2009 Share Posted August 12, 2009 Sadly one of my sources of amusement, over the last year or so (i.e. reading all of the "how could things possibly have gone so wrong" tales of no mortgages, lost deposits, collapsing values and gereral financial ruin on the Property secrets forum) has come to an end with their calling in of the administrators. Property Secrets was probably the largest of the firms encouraging british and foreign BTL investment. Quite how they managed to go bust, despite taking vast sourcing fees from 1000s of clients escapes me - suspect its all been invested in large yachts etc by the directors. www.propertysecrets.net Quote Link to comment Share on other sites More sharing options...
Moley Posted August 12, 2009 Share Posted August 12, 2009 http://www.propertysecrets.net/ Ha ha ha ha. Quote Link to comment Share on other sites More sharing options...
@contradevian Posted August 12, 2009 Share Posted August 12, 2009 "In the end the recession has been too deep and too long to survive." Its only just got started! Quote Link to comment Share on other sites More sharing options...
NotMyHouse Posted August 12, 2009 Share Posted August 12, 2009 Care to comment, Sibbers? Quote Link to comment Share on other sites More sharing options...
cashinmattress Posted August 12, 2009 Share Posted August 12, 2009 (edited) Yep. Good bye to the suit dummies and their legions of property chumps. The Chechen: What are you going to do with all your money?The Joker: See, I'm a man of simple tastes. I like dynamite, and gunpowder... [the Chechen watches, appalled, as Joker's thugs pour gasoline on his mountain of cash] The Joker: And gasoline! Do you know what all of these things have in common? They're cheap! And so is property. You take out a mortgage, the bank owns your property, and you own the debt. Dumasses! Edited August 12, 2009 by cashinmattress Quote Link to comment Share on other sites More sharing options...
Goat Posted August 12, 2009 Share Posted August 12, 2009 Mods: please can I have permission to post another 1,000,000 smileys. Quote Link to comment Share on other sites More sharing options...
_w_ Posted August 12, 2009 Share Posted August 12, 2009 Property SecretsUnveiling the truths of property investments In their own bizarre way I guess they have achieved their objective. Quote Link to comment Share on other sites More sharing options...
LuckyOne Posted August 12, 2009 Share Posted August 12, 2009 http://www.propertysecrets.net/Ha ha ha ha. And for some light entertainment, you can look at some of the posts on their forum. The desperation is palpable ....... We told you so doesn't even begin to cover it. Quote Link to comment Share on other sites More sharing options...
pete.hpc Posted August 12, 2009 Share Posted August 12, 2009 Quote Link to comment Share on other sites More sharing options...
eric pebble Posted August 12, 2009 Share Posted August 12, 2009 Its only just got started! So true. Quote Link to comment Share on other sites More sharing options...
CviewUK Posted August 12, 2009 Share Posted August 12, 2009 A long completion time of 18 months means investors can take full advantage of a rising market and staged payments to maximise their return on investment. With just a 10% minimum payment, investors can enjoy six months of capital growth of up to a predicted 50%, before they make their next payment of 15%. There is then another year before any mortgage has to be drawn down. The average price of €1,131/sqm is a predicted 5.75% below the market value, according to an independent valuation, and we believe City Lights is currently the cheapest priced development in the area for a middle class, new-build project. http://www.propertysecrets.net/view_invest...lights/132.html Quote Link to comment Share on other sites More sharing options...
200p Posted August 12, 2009 Share Posted August 12, 2009 Not too late to sign up for their FREE newsletter Quote Link to comment Share on other sites More sharing options...
Confusion of VIs Posted August 12, 2009 Author Share Posted August 12, 2009 This thread was originally posted in the NI forum but I thought you all deserved a treat - so I moved it to the main board. Thanks, not sure why it ended up in the NI forum - probably I need to take more care reading the instructions. Quote Link to comment Share on other sites More sharing options...
200p Posted August 12, 2009 Share Posted August 12, 2009 (edited) But the recovereh is here? - if they just managed to keep using credit cards for the bills, i am sure QE will get into their pockets in the end. Edited August 12, 2009 by Pseudo Lord Sandwich Quote Link to comment Share on other sites More sharing options...
ralphmalph Posted August 12, 2009 Share Posted August 12, 2009 I like they way they put there names at the bottom Neil Lewis, Peter Bennett, Simon Shepherd, Jez Touch Directors. Well I would like to welcome them to the real world this is how they should have signed it. Neil Lewis, Peter Bennett, Simon Shepherd, Jez Touch EX Directors. Quote Link to comment Share on other sites More sharing options...
dryrot Posted August 12, 2009 Share Posted August 12, 2009 (edited) But the recovereh is here? - if they just managed to keep using credit cards for the bills, i am sure QE will get into their pockets in the end. Or from their apology: http://www.propertysecrets.net/forum/prope...0741/37741.html "I'm really sorry it had to end like this. We've had 18 months of extremely difficult trading, and unfortunately we couldn't make it through to September / October when the property market traditionally picks up. " Autumn bounce, anyone? EDIT: clarity Edited August 12, 2009 by dryrot Quote Link to comment Share on other sites More sharing options...
Spongebob Posted August 18, 2009 Share Posted August 18, 2009 I'm so glad you all seem to find it funny that people have lost their jobs and possibly even more as a result. What a bunch of idiots! Property Secrets were a publishing and information company; they stopped selling deals a long time ago. Quote Link to comment Share on other sites More sharing options...
bomberbrown Posted August 19, 2009 Share Posted August 19, 2009 It's just not fair I tell you - stamps feet and has tantrum That's the market mate. Quote Link to comment Share on other sites More sharing options...
Guest theboltonfury Posted August 19, 2009 Share Posted August 19, 2009 (edited) So true. Eric, why does that comment deserve 5 smileys. Do you revel in depression? Edited August 19, 2009 by theboltonfury Quote Link to comment Share on other sites More sharing options...
tiggerthetiger Posted August 19, 2009 Share Posted August 19, 2009 I'm so glad you all seem to find it funny that people have lost their jobs and possibly even more as a result. What a bunch of idiots!Property Secrets were a publishing and information company; they stopped selling deals a long time ago. What ?...they were property price rampers....selling books about how to make money,by doing little more than speculating on house prices forever going up,to the detriment of young people mostly....it was doomed to failure...cheap and shoddy !! No sympathy from me either Quote Link to comment Share on other sites More sharing options...
VacantPossession Posted August 19, 2009 Share Posted August 19, 2009 (edited) So there weren't any secrets about property at all. Yes, a bright eight year old could have told you that. So a couple of hundred thousand adults, attracted by the game of roulette, become lambs to slaughter at the slightest tweak of their greed antennae. Serves 'em right. Spivtastic result. Telling us they were merely an"information" service doesn't mitigate them. Edited August 19, 2009 by VacantPossession Quote Link to comment Share on other sites More sharing options...
VacantPossession Posted August 19, 2009 Share Posted August 19, 2009 (edited) oops double post Edited August 19, 2009 by VacantPossession Quote Link to comment Share on other sites More sharing options...
Sledgehead Posted August 19, 2009 Share Posted August 19, 2009 Property Secrets were a publishing and information company. Yeah, but that's what they said about Pravda Quote Link to comment Share on other sites More sharing options...
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