About thirty years ago some bright sparks
thought up an ingenious plan to make lots of money out of gullible
fools. The secret was all in the marketing. The idea was to sell a
dream, and wrap up the marketing plan in such a way that the average
Joe wouldn't be able to work out he was being conned. The easy way to
do that is to present the gull with some neatly packaged sums that
sound good, but which in fact are totally phony. Another part of the
scam was to assume the fool you were about to fleece was greedy, and
ignorant, and knew nothing about the market you were presenting to him.
That idea was Time-Share.
No-one in their right mind would touch time-share these days.
Time-share is a dirty word. I maintain that in about five years time
Off-Plan will rank up there with Time-Share as one of the great
property cons to avoid like the plague, but by then it will be too late
for those who have already sunk a small fortune in one of the ventures.
Why do I say this? Quite simply because while writing my book "After
the Property Boom" I realised what a bleak picture my neighbourhood was
facing because of the rise and rise of off-plan sales. I initially was
annoyed that the off-plan brigade were wrecking the local property
market, and as I worked through what seemed to me to be the way the
situation would develop over a period of five to seven years, I could
see it causing a major property crash.
Why? What's wrong with this mechanism for investing in real estate?
In order to show you the inevitability of my warnings I will have to
present the whole case for and against off-plan. That is what this
small book is about.
Chapter two will present an overview of precisely how the off-plan deal
works. I will go behind the scenes and show you why there is such a
thing as off-plan, how the schemes are put together, and how the
figures stack up. I will then go on to take the reader through the next
stages of the scheme (which everyone else conveniently ignores), namely
the stage where you come to sell on to realise your gain, or where you
come to rent out to pay for the mortgage.
I then go on to expand on the basic problems there are in buying into
an off-plan deal. I will go through all the ways in which the deal can
go wrong, and end up giving advice on what you should be doing to avoid
hitting any snags.
The last chapter will show why it is impossible for you to avoid the
two most deadly snags of all, and why these two problems will
eventually loom and almost certainly cause you to lose money; lots of
money.
I will take two or three examples of current off-plan deals, putting
those deals in a head-to-head comparison with properties available on
the open market. You will then be able to see clearly just how the
off-plan deals are designed to rip you off. Just to give you a taster
of what is to come in this chapter, I will tell you that one of the
deals I have just been sent gives the eager punter access to an alleged
15% discount on some off-plan apartments, which are, in actual fact,
priced at 200% more than the local second-hand market. In short, if you
avoided the off-plan deal you could buy on the open market no less than
three similar apartments for the price of the one you have been offered.
Please buy this book and read my warnings. It could be the best
property investment you have ever made, and will undoubtedly save you a
serious amount of money, and a great deal of heartache.
To
get the whole book, return to the Payments Page.
You can get immediate access to
the whole book for only £5.
