There are a number of schemes that purport to do this, but all of them have some variations on the same theme. We examined one such common scheme here:
But that’s by no means the only one of its kind. Variations include schemes that get people to invest in an individual, who then purchases properties and divvies out the rental income, or simply to invest in a group of businesses that all own different properties.
While they are not necessarily illegal (many of them are in a grey area), or even bad, they tend to share some common traits:
It can be difficult to get out of the investment later, when things aren’t going well
The “ownership” may be primarily on paper (such as if several properties are collectively owned by a group of investors)
Many of them may not be under close scrutiny or regulation
This isn’t an endorsement or condemnation of any such specific scheme; but be careful of the risks involved. We suggest you seek some form of consultation with legal or financial professionals before you get involved; the cost of consultation is often much lower than what a bad investment can end up costing you later.
those adverts are saying "no money OF YOUR OWN down".
they are not saying the property can be bought without money down, its teaching you how to use other people's money via loans, partnerships etc.
not very ideal when property prices stop rising and banks start being more stringent on payment.
If it sounds too good to be true, it's probably too good to be true. You can also own more than 30 c...
Read 3 other comments with a Seedly account
You will also enjoy exclusive benefits and get access to members only features.
Sign up or login with an email here
Write your thoughts