Diary of a repossession

domcastro

It was a really horrible house. The name "Richmond house" made me imagine an old stately property.

fc123

If (and it is a big IF) I ever made some serious cash in the future...I would be as mean as can be.....after getting my cosy house on Chesil Beach and having regular eyelash extensions fitted....and...

stevetodd

I saw a recording of a tv programme which was on about a week ago this morning. This couple had bought 3 flats in Yorkshire (they live in London) and did no research whatever, they didn't investigate the local rental market, the local property prices and to top it all they did not even view the flats!!!!

They bought 3 over priced flats that could not achieve anyway near the rental value that some 'investment club' had informed them they could get. I am not sure who is worst the idiot that blindly believes the liars or the investment club who were taking misrepresentation to new heights. Whilst I think idiots will always eventually lose their money anyway, surely something needs to be done about these con artists that rip people off.

Microstar_2

One of the things I've discovered over the years in business is that most people are greedy and a lot lie. And the worst are not the 'chavs', they are the middle classes, the Daily Mail types in fact. Now that a lot are getting bitten big-time because of past decisions made in greed and haste its everyone's fault but theirs.

Really2

stevetodd wrote: »

I saw a recording of a tv programme which was on about a week ago this morning. This couple had bought 3 flats in Yorkshire (they live in London) and did no research whatever, they didn't investigate the local rental market, the local property prices and to top it all they did not even view the flats!!!!

They bought 3 over priced flats that could not achieve anyway near the rental value that some 'investment club' had informed them they could get. I am not sure who is worst the idiot that blindly believes the liars or the investment club who were taking misrepresentation to new heights. Whilst I think idiots will always eventually lose their money anyway, surely something needs to be done about these con artists that rip people off.

But a fool and their money are easily parted.
If people were not gready fools they would not be there in the first place.

fc123

stevetodd wrote: »

I saw a recording of a tv programme which was on about a week ago this morning. This couple had bought 3 flats in Yorkshire (they live in London) and did no research whatever, they didn't investigate the local rental market, the local property prices and to top it all they did not even view the flats!!!!

They bought 3 over priced flats that could not achieve anyway near the rental value that some 'investment club' had informed them they could get. I am not sure who is worst the idiot that blindly believes the liars or the investment club who were taking misrepresentation to new heights. Whilst I think idiots will always eventually lose their money anyway, surely something needs to be done about these con artists that rip people off.

Scams will always exist...some dressed up as quite reasonable. legitemate business opportunities.

Some people even send money to those scammers who ask for fees to deposit 60 million into their bank account.

Something called SAMS mortgages were sold by banks years back...which don't look that good now. Based on equity withdrawal then a share in increased value of the house....look quite scammy to me, but maybe not?

stevetodd

Really2 wrote: »

But a fool and their money are easily parted.
If people were not gready fools they would not be there in the first place.

Absolutely agree (in fact I said so myself), but I still think it is wrong for con artists like this to deceive people even if they are fools. But as fc123 says these t*ssers will always be around scamming people in one way or another. It's a pity they didn't take a few mins to post on here what they intended to do, it would have saved them 1000's

mustrum_ridcully

Really2 wrote: »

But a fool and their money are easily parted.
If people were not gready fools they would not be there in the first place.

Indeed. Greed and stupidity (perhap ignorance is a better term) are a very dangerous combination. A greedy smart person will sell a business that's going down the pan, the greedy idiot will buy it.

Made me think of the blond woman in Survivors last night, thought that she'd get rich off the food depot she found herself in - in the end the local thugs took it off her.

amcluesent

People need to examine whether they are cut-out to be entrepreneurs. IMHO if you started a business when you were 14, all well and good. If you were on PAYE for years and then decide to 'follow your dream' well...it's likely to crash and burn.

Pobby

amcluesent wrote: »

People need to examine whether they are cut-out to be entrepreneurs. IMHO if you started a business when you were 14, all well and good. If you were on PAYE for years and then decide to 'follow your dream' well...it's likely to crash and burn.

I have been self employed for around 25 years. In the boom times I have seen quite a few folk, well actually quite a lot thinking about it, starting up in our industry. Mostly employed people, various ages.

I have served 35 years in the same industry and some of there new comers tried to teach me to suck eggs.

Some have already gone, I don`t really know of many that are doing OK, maybe one or two and I would say at best they are making some sort of a wage.

Talked to the business partner of a customer of mine I have known for nearly 30 years. He said today, although they are a very well established shop, they are not taking a wage.

It really is bad out there.