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Rob D

Episode 45: How to avoid a property shark

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This week we go into full Officer Brody mode, and patrol for property sharks: those people and companies with dubious intentions who are out to separate you from your money.

 

Common schemes include:

  • Overseas property schemes that never get built
  • Portfolio building companies who disappear with your money
  • Letting agents who run off with all the deposits
  • And a whole lot more too depressing to get into!

We talked about how to spot the signs of a shark, and how to protect yourself without being overly paranoid.

 

Listen here: http://thepropertyhub.net/tpp045-spot-property-shark/

 

Join the discussion:

 

Have you been the victim of any dodgy property schemes, or had a close call?

 

Got any extra tips about how to keep yourself safe?

 

Let us know below!

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Hi I've signed up to a property course which I am thinking of cancelling. Not sure if they are good or not, but would you say some property course companies qulify as property sharks?

 

 

Great podcast episode, found it very useful

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Hi I've signed up to a property course which I am thinking of cancelling. Not sure if they are good or not, but would you say some property course companies qulify as property sharks?

 

 

Good question! I don't know if any course sellers are out-and-out sharks, but some precautions are probably a good idea:

  • Don't buy anything! Especially if the course is cheap, there are likely to be upsells with some degree of pressure to sign up. I'd recommend not doing so, and considering in your own time whether it's something you want to do.
  • Verify any claims before trying to apply them. Some people still teach techniques that are outdated, or morally dubious, or both.
  • Come back here and tell us all about it! (Not strictly a precaution, but hey)

Glad you enjoyed the episode!

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Rob & Rob 

 

I just wanted to say what a fantastic episode this one was - it should probably be in the 101 training guide, should you wish to invent such a thing, for all new investors - day 1 essential consumption before doing anything else in my opinion.

 

Don't get bitten by the sharks!

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Rob & Rob 

 

I just wanted to say what a fantastic episode this one was - it should probably be in the 101 training guide, should you wish to invent such a thing, for all new investors - day 1 essential consumption before doing anything else in my opinion.

 

Don't get bitten by the sharks!

 

Thanks Richard!

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You've always got to ask yourself, "If it's that easy & simple, why aren't they doing it themselves all the time and keeping their secrets?".

Rob & Rob plus me and many others on here give our time & expertise for free. We have nothing to gain directly other than perhaps a bloated social profile so feel free to quiz everyone on here before paying out thousands to property 'experts'.

I know Rob Bence has the same experience as me whereby he'll happily disclose and discuss his knowledge and tactics which could easily be pinched and then find that the other person says "Great, but can you do it for me instead?".

As always, you should only preach what you practice too!

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Just over 6 months ago I went to an "Investment seminar" and after an hour of you must buy at below market value (BMV) brainwash they magically showed us several properties at BMV that we could purchase if we became members.

 

During a personal consultation I was informed that I could only have aceess to this list if I paid a £2k membership fee followed by a 2% fee on any deal.

 

When I suggested that I would only paid a fee when I found a suitable property they became agressive and patronising......SHARK ALERT!!

 

I learnt something about buying property from developers at year end for a discount but definitely not with these sharks!!

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I know Rob Bence has the same experience as me whereby he'll happily disclose and discuss his knowledge and tactics which could easily be pinched and then find that the other person says "Great, but can you do it for me instead?".

 

Exactly this! Giving away your knowledge freely is the best kind of marketing (we touch on this point in this Thursday's episode).

 

 

 

When I suggested that I would only paid a fee when I found a suitable property they became agressive and patronising......SHARK ALERT!!

 

Yep that's a classic shark warning sign - suddenly getting nasty when cornered!

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