Rent2rent scam. Losing sleep

UncleK

The Unique Property Group does look very convincing but is surely built on sand - albeit several layers. I'm sure their sales people are very convincing but there's no regulation. And that's always a thing to bring up to him and parents, I would suggest.

jimjames

The company appears to have changed its name from what's on the website or are passing off as a different one but there is no company number shown so it's hard to be sure. The company name isn't one registered at the moment, shows on website as Unique Apartments UK Ltd but now 

UNIQUE PROPERTY INVESTMENT GROUP LTD

mattojgb

Scam may be the wrong word. R2R is a legitimate investment that can be high risk/reward. They can be operated by unscrupulous parties who will attempt to fleece tenants, landlords and investors with dubious charges and little regard for the law. If anything goes wrong you can expect to end up carrying the can, thousands may need to be spent on repairs and maintenance which may or may not be genuine and may or may not be spent on rectifying the problem. If nothing goes wrong you could do quite well.

money11111

mattojgb said:

Scam may be the wrong word. R2R is a legitimate investment that can be high risk/reward. They can be operated by unscrupulous parties who will attempt to fleece tenants, landlords and investors with dubious charges and little regard for the law. If anything goes wrong you can expect to end up carrying the can, thousands may need to be spent on repairs and maintenance which may or may not be genuine and may or may not be spent on rectifying the problem. If nothing goes wrong you could do quite well.

Thanks Mattojgb. Yes, that's what my OH is saying, if it all goes as planned etc. However, he has given money to multiple groups, so I think our odds of at least one of them being illegitimate is likely (according to FCA). I'm also concerned about the total moral disregard he has shown. As you say, these rentals could br fraught with problems and goodness know who is staying in them, potentially vulnerable people I expect. 

I'm still feeling very worried and trapped at the moment. He doesn't aee the problem, thinks he is a smart investor and is now exploring crypto. I have talked to his parents who are concerned and will try to talk to him. I think he's also mislead them as they thought he had invested their money in something different. I should add, he works in finance which is why he seems to think he is a smart investor and can't accept he has probably been scammed. 

Exodi

mattojgb said:

Scam may be the wrong word. R2R is a legitimate investment that can be high risk/reward. They can be operated by unscrupulous parties who will attempt to fleece tenants, landlords and investors with dubious charges and little regard for the law. If anything goes wrong you can expect to end up carrying the can, thousands may need to be spent on repairs and maintenance which may or may not be genuine and may or may not be spent on rectifying the problem. If nothing goes wrong you could do quite well.

(assuming they are R2R companies and this isn't just a straight up pig-butchering scheme)

It's entirely possible that the rental properties are fictitious.

I watch a lot of documentaries on scams (it is a bizarre interest of mine) - and I'd say there's more red flags in this screenshot alone than a Chinese communist parade.

money11111

Exodi said:

mattojgb said:

Scam may be the wrong word. R2R is a legitimate investment that can be high risk/reward. They can be operated by unscrupulous parties who will attempt to fleece tenants, landlords and investors with dubious charges and little regard for the law. If anything goes wrong you can expect to end up carrying the can, thousands may need to be spent on repairs and maintenance which may or may not be genuine and may or may not be spent on rectifying the problem. If nothing goes wrong you could do quite well.

(assuming they are R2R companies and this isn't just a simple pig-butchering scheme)

It's entirely possible that the rental properties are factious.

I watch a lot of documentaries on scam (it is a bizarre interest of mine) - and I'd say there's more red flags in this screenshot alone than a Chinese communist parade.

Yes I know. I can see those red flags but, as I said in my first post, OH has autistic traits and he has believed the sales pitch and doesn't seem to see tge context of the red flags. I do believe to an extent he might be a victim in this but, as he is continuity to engage with worrying investments, it's hard to know what to do of he is in denial.

UncleK

money11111 said:

Yes I know. I can see those red flags but, as I said in my first post, OH has autistic traits and he has believed the sales pitch and doesn't seem to see tge context of the red flags. I do believe to an extent he might be a victim in this but, as he is continuity to engage with worrying investments, it's hard to know what to do of he is in denial.

If he works in finance, won't he appreciate the importance of regulation?