Car park investment

garygee

My first post here, I'm intrigued to know if anybody has experience of buying car park spaces at airports.
Cost GBP20000 and "guarantee" 8% for the first 2 years, following years projected income is greater than that.
Safe?
Scam?
Would you do it?
Thanks.
If not why not?

jimjames

Are you aware you can lose all your money and that it's not FSCS protected?

Are you aware the guarantees are not worth the paper they're written on? What happens after year 2?


Presumably if you're looking at investments with 100% loss potential you already have a substantial portfolio of shares and other investments this will sit alongside?

Sam_J12

garygee wrote: »

My first post here, I'm intrigued to know if anybody has experience of buying car park spaces at airports.
Cost GBP20000 and "guarantee" 8% for the first 2 years, following years projected income is greater than that.
Safe?
Scam?
Would you do it?
Thanks.
If not why not?

Go to Google and type - 'car park space investment scam'. You will find endless stories of people being scammed and losing large amounts of money in these unregulated investments.

Avoid. Avoid. Avoid.

SailorSam

You can come and park on my path and i only charge £10k

george4064

Safe? No
Scam? Yes
Would you do it? No
Thanks.
If not why not? See above.

Eco_Miser

Existing thread: https://forums.moneysavingexpert.com/discussion/5035815

jimjames

You may also want to Google "Store First storage pods scam"


Store First storage pods were sold by the same people as are running Park First and lots of people have found out they now own worthless storage pods.

garygee

OK, glad I asked thanks!

We moved from the UK to Namibia 15 years ago, and are now starting to panic (a little late) about our money turning to dust as we're 1 to 1 with the ZAR, which is taking a hammering at the moment.
Frantically looking for somewhere to put cash that actually gets a sensible return.

jimjames

garygee wrote: »

Frantically looking for somewhere to put cash that actually gets a sensible return.

Rather than looking for unfeasible returns why not just invest in a balanced portfolio of worldwide tracker funds and bonds?

Dan83

I have seen these on right move, also people selling storage space and renting it back.

I'm not sure if it's a scam or not, surely they are not all scams?

The things that put me off was,
What happens when the who car park gets re-tar-macked, do you have to pay a share?
The advert I seen, you bought a 250 year lease on the car park, what happens in in 5 years they shut the air port?

cotleigh

Alway ask yourself when you see this sort of "exceptional return" being offered:

Let's just say they are right and the returns are that good.

Why on earth would they want to sell the investment off to all-comers? Why wouldn't they just borrow the money to finance it, and keep all the income for themselves?