Tuesday, September 25, 2007
My buy-to-let dream cost me everything
My buy-to-let dream cost me everything
"Anne, not her real name, has been a taxi driver for most of her life. 'Driving day after day is long, hard work,' she says. So in January 2002, in a brave attempt to escape the daily grind, she parted with £6,000 of her precious savings to attend a three-day property investment seminar in London."
Posted by darren @ 12:54 PM (748 views)
2 thoughts on “My buy-to-let dream cost me everything”
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sovietuk says:
“The Position Now: All four properties are in negative equity. The mortgage shortfalls, interest arrears and redemption penalties total £210,000. Anne has also built up a £100,000 debt in the form of loans taken out to try to meet the mortgage bills.”
“Her total debts exceed £300,000. She has already lost her car and faces the loss of her home in which there is £30,000 equity – her only asset.”
That’s what happens to greedy stupid people.
alan says:
Agreed SovietUK.
I can’t understand how she paid £6k for a 3 day course. Didn’t she have any friends?