Investing in Land

tonytheviking

Hello all,

I am vaguely considering investing approx 50,000 in some land with a company who claim that I could return 2.5 times the investment in 12 months time.

Seems far too good to be true, but thought I'd ask on here if anyone has done anything similar, or has cautionary tales to tell.

How can they be so confident about the return? Would it be very foolish to invest?

Thanks,
T

cheerfulcat

Almost certainly a scam. Where did you hear of this company?

Farway

tonytheviking wrote: »

Would it be very foolish to invest?

Thanks,
T

Yes

Have a search under "land banking" and keep your hands on your wallet

tonytheviking

Thanks for that. It certainly sounds ridiculous. The sales rep is incredibly convincing, but I guess that goes with the territory.

I'm a new forum user, so I can't post links, but the the company is called asset global. Is it all nonsense?

Thanks,
T

Reaper

Sounds like a typical land scam to me. They buy agricultural land and sell it on in small parcels for many times its worth pretending it is about to be granted planning permission.

More details about how it works in this thread:
https://forums.moneysavingexpert.com/discussion/2718505

EDIT: P.S. Here is Newbury Trading Standards saying it looks like a scam and the company claiming it isn't.
http://www.newburytoday.co.uk/News/Article.aspx?articleID=13002

tonytheviking

Thanks for the very useful links. I shall stay away from this!

T