Personal Finance (Due Diligence) - Do Your Homework The 4 posts by a forumer (Janetwong77) shows that she has done some serious homework in property investments. To be a successful investor, one has to be willing to put in the time, effort and commitment. An example: Investment Club Scams Many clubs charge over S$1k to attend, promising to share with you methods of picking good properties and letting you into their good deals. The seminars are often sponsored by property agencies, solicitors, bankers and anyone who wants to sell anything to the poor members. The good deals are often nothing more than expensive properties that the so-called wealth coaches sourced from overseas. The wealth coaches will negotiate a bulk discount from the developer, mark up the properties by 10% to sometimes 20% higher and sell them to the members. Many of the properties marketed do not have a land registry to track the transacted prices. Hence there is no way the members can find out if the properties are below market value. Often, the properties marketed are condominiums in Manila, Bangkok, cities in Australia, to exotic assets like student accommodation and hotel rooms. The poor members are being ripped off twice, once by paying good money to attend often useless courses and again by paying exorbitant fees for dubious projects. #FinancialEducation #DueDiligence
Posted on: Sat, 19 Apr 2014 01:14:07 +0000
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