"property millionaire" seminars

A_Fool_&_His_Borrowed_Mon

tali wrote: »

has anyone attended one of those reguarly advertised free "property millionaire" seminars -it all seems to good to be true (no obligation , lots of free info, regulated) but have there been any complaints?

HugoSP

You are only going to get properties at BV if you view them and make low offers, or you get lucky at auction.

Simple as that.

mystic_trev

However, the problem is that property industry experts ranging from estate agents to mortgage brokers are advising potential investors to stay well away from the kind of new-build off-plan property Inside Track recommends.

http://www.thisismoney.co.uk/mortgages/buy-to-let/article.html?in_article_id=421346&in_page_id=56&ct=5

Moorepart

Property seminars are a good bet:p





.....for the lowlifes who run them:mad:

Jonbvn

mystic_trev wrote: »

http://www.thisismoney.co.uk/mortgages/buy-to-let/article.html?in_article_id=421346&in_page_id=56&ct=5

MT,

Thanks for the link. I just loved this little nugget....

The lack of value in new flats is even more starkly illustrated by comparing house price rises since 2000. Land Registry figures show the average cost of all property rose by 89.5% between December 2000 and December 2006, but the average cost of new-build flats rose by just 5.3%.

[Deleted User]

tali wrote: »

thanks for replies, i would never ever attend one but given the huge profitability of the property market,the claims could appear to be entirely realistic to some

There is on average no profit in property, there are many people that lose £££ as make a few bucks and those that do make money would probably have made more investing in better ways.

Always makes me laugh when people on these TV shows buy 200k houses quit there jobs and make 5K profit (if at all) but fail to realise they have lost out on 10K of interest, and 25K each for the jobs they quit. :rotfl:

As for BTL, do a FULL investment appraisal taking into account every factor, you will then realise it is s**t and :rotfl: at people who BTL in the current climate. Dont forget to factor in a RISK analysis too and look at risks like bad tennants, negative equity, structural issues, environmental issues, changing regulations, legal implications. You still think youll be a millionaire tommorow?

btloptingout

Yant1 wrote: »

There is on average no profit in property, ...... You still think youll be a millionaire tommorow?

I think Yant1 is pretty much on the mark with his assessment for TODAY's market .

Over the last 10 years it has been relatively straightforward to make a good return on property and just about any idiot could have (and has done). All that was needed was the balls to leverage up enough and reap a return. Indeed with enough balls and just a little bit of common sense one could have become a millionaire.

The reality today is much different, it's a tough market to turn a profit and these "investment seminars" are merely praying on the shoeshine boys that are always present in the last stages of a bull run.

mrstinchcombe

Buy a house in up and coming area that needs work doing to it.

Get tennants in after you refurbish it.

Sell the property when it inevitably goes up in "value".

Set up a seminar and charge people for hearing these tips.


Can I have my £3000 now please?

tali

"Buy a house in up and coming area that needs work doing to it" - ahh is there any area that ISN'T up and coming ?as inexplicably every area appears to be up and coming