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Passive Investments.
gerryh_2
Posts: 26 Forumite
Hi. Any experience of a Co called Passive Investments. The deal is. . . you pay them £30k upfront, & over the next 5 years, they guarantee to source you 5 properties that are in need of updating/repair at a price under the real market values. They say that they have such a good relationship with the local estate agents, that the ES come to them with bargains/quick sale needed etc. Then you buy/update/rent out/etc the property. In effect you are paying them a £6k finder’s fee for each property. They also say that they only take on 100 new clients every yeay. But with 500 clients, that’s 2 properties per day for them to find. Seems, a bit too good . . . .
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Comments
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£30k upfront? No thanks!
The find properties at below market values - could be a 130k house for 128.5k then. Woo hoo.
Are they nationwide? Is it possible they take your money and say "we've found you a house - it's in Aberdeen. What do you mean that's not convenient because you live in Brigthon? We've done our bit..."Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery0 -
Properties that are in need of updating are in extremely short supply, how this company expect to be able to source the level of properties that they need is beyond me. I would save your money and find properties yourself, it's not that hard. You are equally as able to form good relationships with EA's in areas that you want to buy in, they would rather sell to a reliable individual that can prove they have the funds available to purchase and can complete the sale speedily than one of these so called "companies".
Save the 30k and do it yourself, spend the extra money on making sure that you refurb the property to a good standard!My home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
Ignore......check!0 -
sounds very iffy. they are doing nothing you can't do yourself. you should only good on results not promises"enough is a feast"...old Buddist proverb0
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