Car Park Investment - Is it a Scam?

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  • jimjames
    jimjames Posts: 17,625 Forumite
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    pika_doh9 wrote: »
    I hope I have explained it well - have I been a fool to invest in a parking space? It looks to me like it does not offer any return.

    If they're offering most of your money back now then grab it as fast as you can. If you search up Store First which was another of their investments then many people have now got worthless assets that they can't sell and some have put their entire pension pots into them.

    This isn't a regulated investment and you are probably lucky that they're still in the sales part of the cycle so won't want any negative publicity about not getting your money back.

    http://damn-lies-and-statistics.blogspot.com/2015/11/store-first-storage-pods-scam-complaints.html
    http://damn-lies-and-statistics.blogspot.co.uk/2015/11/airport-parking-pension-investment-scam.html
    Remember the saying: if it looks too good to be true it almost certainly is.
  • BananaRepublic
    BananaRepublic Posts: 2,103 Forumite
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    Am I alone in finding it shocking that someone would set up such a scheme?
  • cloud_dog
    cloud_dog Posts: 6,044 Forumite
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    BananaRepublic wrote: »
    Am I alone in finding it shocking that someone would set up such a scheme?
    I'm not sure there is anything wrong in setting up the scheme, it is just that without a market you have few/zero options when you want to liquidate.

    The only reason stocks/shares work is because they are liquid and there are market makers who 'make' the market.

    (I know you know this stuff but...)

    A colleague of mine was always being called by a organisation and he wanted to invest in carbon credits. The offer / return potential sounded fine but I asked him...who makes the market, on what markets could he sell his investment and of course it was via the company selling him the carbon credit options. A bit off topic but if you have a property and it was valued at £500k but there was only one interested party offering £100k, then guess what...it is only worth £100k.
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    BananaRepublic wrote: »
    Am I alone in finding it shocking that someone would set up such a scheme?

    The world has never been any different. Open a pot of jam and people fall over themselves in their haste to invest. That's human nature. Greed overcomes common sense.
  • OldMusicGuy
    OldMusicGuy Posts: 1,758 Forumite
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    BananaRepublic wrote: »
    Am I alone in finding it shocking that someone would set up such a scheme?
    Probably. Have you never heard of Charles Ponzi or Bernie Madoff? At least this one is legal!

    I haven't been on MSE long, but the number of threads on unregulated investment schemes astounds me. Just reading a few of those should open anyone's eyes to what they are letting themselves in for.
  • pika_doh9
    pika_doh9 Posts: 10 Forumite
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    Hey guys - thanks so much for all the responses and the advice. I called them today to initiate the buy back - lesson learnt.
  • OldMusicGuy
    OldMusicGuy Posts: 1,758 Forumite
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    pika_doh9 wrote: »
    Hey guys - thanks so much for all the responses and the advice. I called them today to initiate the buy back - lesson learnt.
    Well done, wise move :T
  • le_loup
    le_loup Posts: 4,047 Forumite
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    pika_doh9 wrote: »
    Hey guys - thanks so much for all the responses and the advice. I called them today to initiate the buy back - lesson learnt.
    I hope for your sake they honour their offer.



    She offered her honour, he honoured her offer and all through the night he was honour and offer. (You have to hay it out loud.)
  • tempus_fugit
    tempus_fugit Posts: 1,189 Forumite
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    le_loup wrote: »
    She offered her honour, he honoured her offer and all through the night he was honour and offer. (You have to hay it out loud.)
    :rotfl::rotfl::rotfl:
    Retired at age 56 after having "light bulb moment" due to reading MSE and its forums. Have been converted to the "budget to zero" concept and use YNAB for all monthly budgeting and long term goals.
  • BananaRepublic
    BananaRepublic Posts: 2,103 Forumite
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    Thrugelmir wrote: »
    The world has never been any different. Open a pot of jam and people fall over themselves in their haste to invest. That's human nature. Greed overcomes common sense.

    You've completely missed the point. I was referring to the scheme creators not the investors. Sadly the world is full of people who set out to enrich themselves at the expense of others.
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