Has anyone used HomeNow?

FreeBear

Stardustjunkie said: GoDaddy doesn’t scream red flag either.

It does when the contact details are listed as private or anonymous - Any company of repute would have their name against a domain registration.

Stardustjunkie

FreeBear said:

Stardustjunkie said: GoDaddy doesn’t scream red flag either.

It does when the contact details are listed as private or anonymous - Any company of repute would have their name against a domain registration.

Thank you. 

kangoora

Stardustjunkie said:

I feel like I know nothing, and I work as a marketing manager for an international private healthcare company. Facebook ads don’t scream scam to me, they’re a really effective form of advertising if done correctly. GoDaddy doesn’t scream red flag either.

I am taking all of this on board though and it’s making me think about things differently. Please keep sharing concerns/red flags or experiences. Thank you. 

After cold calling, the most common way that people report being scammed or ripped off on these forums appears to be Facebook/Twitter. They appear to do absolutely zero due diligence on the companies advertising via them, as long as advertisers pony up the cash they're quite happy to print any old s**t as adverts. For example, Martin Lewis took Facebook to court over them allowing scam adverts with his face/false recommendations on them. Probably most companies advertising via Scambook are reputable (arguably), the trouble is there are also a number of sharks/scammers etc just joining in.

I would NEVER buy AYTHING from a Scambook advert, at most I would look at the product and then investigate and/or buy outside of the platform which you appear to have done (good for you). 'If it looks too good to be true it probably is' seems to be a good response to this 'advert'.

I saw an advert the other day on Youtube (different platform, same s**t) and thought it looked like a really good product. So I went onto Amazon and read the user reviews. Overwhelmingly the user reviews were that the product was a complete waste of money/didn't do what the ads promised. Taking 20 minutes saved me £30, not a lot of money but better in my pocket than given to some company selling some c**p.

GDB2222

FreeBear said:

Stardustjunkie said: GoDaddy doesn’t scream red flag either.

It does when the contact details are listed as private or anonymous - Any company of repute would have their name against a domain registration.

I have a couple of uk domains. Nominet just shows the domain name provider, with none of my details. I’ve had these domains 20 years, or so, and I’ve never hidden my details. 

Stardustjunkie

kangoora said:

Stardustjunkie said:

I feel like I know nothing, and I work as a marketing manager for an international private healthcare company. Facebook ads don’t scream scam to me, they’re a really effective form of advertising if done correctly. GoDaddy doesn’t scream red flag either.

I am taking all of this on board though and it’s making me think about things differently. Please keep sharing concerns/red flags or experiences. Thank you. 

After cold calling, the most common way that people report being scammed or ripped off on these forums appears to be Facebook/Twitter. They appear to do absolutely zero due diligence on the companies advertising via them, as long as advertisers pony up the cash they're quite happy to print any old s**t as adverts. For example, Martin Lewis took Facebook to court over them allowing scam adverts with his face/false recommendations on them. Probably most companies advertising via Scambook are reputable (arguably), the trouble is there are also a number of sharks/scammers etc just joining in.

I would NEVER buy AYTHING from a Scambook advert, at most I would look at the product and then investigate and/or buy outside of the platform which you appear to have done (good for you). 'If it looks too good to be true it probably is' seems to be a good response to this 'advert'.

I saw an advert the other day on Youtube (different platform, same s**t) and thought it looked like a really good product. So I went onto Amazon and read the user reviews. Overwhelmingly the user reviews were that the product was a complete waste of money/didn't do what the ads promised. Taking 20 minutes saved me £30, not a lot of money but better in my pocket than given to some company selling some c**p.

Thank you for taking the time to respond. I do agree that there is a load of junk on social media but it is also an effective way of advertising for legitimate companies.

I’m really cautious when it comes to money and spending anything really. I always do loads of reading up on reviews before I buy anything I can’t look at in person! Contrary to what has been posted in this thread, I did actually try to do research before posting here but I’m not getting a lot back. Partly due to the name of the company, it brings up so many other websites to do with mortgages etc. 

Stardustjunkie

GDB2222 said:

FreeBear said:

Stardustjunkie said: GoDaddy doesn’t scream red flag either.

It does when the contact details are listed as private or anonymous - Any company of repute would have their name against a domain registration.

I have a couple of uk domains. Nominet just shows the domain name provider, with none of my details. I’ve had these domains 20 years, or so, and I’ve never hidden my details. 

I’ve been involved in the marketing/visual development of three websites, one for a charity, one for a government led scheme and one for an international healthcare business. I have just looked and all three have their details hidden and all three are very much legitimate, trustworthy companies/charities. So I’m not sure what to think on this!

GDB2222

To me, the website looks legitimate. I’d check the track records of the directors on companies house. None of that says it is a good deal for you, but it doesn’t look fraudulent.

Indeed, the rental example on the website looks realistic. One of the advantages of this scheme to the investors is that they are not going to have any void periods. Most BTL investors lose roughly 10% of their rent due to voids. Nor will they be paying letting agent fees. In return, they give up a chunk of their capital appreciation. 

I think you just need to get a quote and work out whether the figures stack up for you. In particular, if there’s no appreciation over the 5 years, will you be happy? So you need to consider different scenarios for how the economy might work out.

Stardustjunkie

GDB2222 said:

To me, the website looks legitimate. I’d check the track records of the directors on companies house. None of that says it is a good deal for you, but it doesn’t look fraudulent.

Indeed, the rental example on the website looks realistic. One of the advantages of this scheme to the investors is that they are not going to have any void periods. Most BTL investors lose roughly 10% of their rent due to voids. Nor will they be paying letting agent fees. In return, they give up a chunk of their capital appreciation. 

I think you just need to get a quote and work out whether the figures stack up for you. In particular, if there’s no appreciation over the 5 years, will you be happy? So you need to consider different scenarios for how the economy might work out.

Thank you. I have taken a look at each director and a couple of them hold positions at similar property investor companies. Nothing stands out as concerning though.

There is the risk that we don’t gain enough for a deposit at the end of the 5 years. The advantage is we’d still be in a position to save a bit, and could get our savings up to mortgage deposit levels in the 5 years, so either way we should be able to get ourselves a property in 5 years.

At the moment where we live isn’t suitable for starting a family, which we’d like to start thinking about next year. But we’d rather buy than move to a more expensive rented accommodation. Which if we did the HomeNow scheme, we would be renting but with prospects at the end... hopefully. So much to consider but I think getting a quote isn’t a bad idea. Ultimately it’s in their interest to agree to buy a property that has potential to increase in value. 

G_M

Smodlet said:

!!!!!!, it is probably time I got banned.  If it can happen to G_M...

Time you updated your signiture Smodlet.......

NameUnavailable

I would check the small print as to what you're liable for if the property falls in value. Prices are currently at an all time high but yet we are now in recession and heading into winter with expected increases in Covid, further job losses and an uncertain future after January when we properly leave the EU..........