Consumer regulators across Australia are launching a national campaign against ‘Dodgy’ property spruikers running get-rich-quick seminars.
Consumer advocates are concerned people are being pressured into dodgy deals selling properties at the back of the seminar room and or those push rent-to-buy housing schemes.
Consumer Protection WA is leading the national campaign, amid concerns that the only people making money form these “schemes” are seminar promoters as the attendees end up with secondary properties, often off the plan or in a remote location.
He explained that spruikers often teach their students how to set up rent-to-buy housing deals, which offers people who do not have a home deposit the option of purchasing a home after paying above-market rent for a set period of time.
I have been running property education seminars for over 16 years, but I have never sold any properties at the back of the room.
In fact I’ve never sold any properties at all.
For 16 years I have been running educational seminars, writing books and blogs as well as mentoring clients personally to help educate them to a level of financial fluency so that they won’t be “sucked in” by dodgy investment schemes.
Having said that I know some people who despite getting this type of education have still been lured by the promises of get rich quick schemes and unfortunately lost out significantly.
Just to make things clear… my team at Metropole and I have never sold properties, instead we give independent, unbiased strategic property advice and then help our clients implement the wealth creation plan we have devised together through property advocacy.
Similarly, last year when ASIC warned a large number of property seminar promoters and property “educators” we were not on that list.
So what’s the alternative?
At this stage of the property cycle, where not all properties will increase in value strongly, correct property selection is critical, so if you’re looking for independent advice, no one can help you quite like the independent property investment strategists at Metropole.
Remember the multi award winning team of property investment strategists at Metropole have no properties to sell, so their advice is unbiased.
Whether you are a beginner or a seasoned property investor, we would love to help you formulate an investment strategy or do a review of your existing portfolio, and help you take your property investment to the next level.
Please click here to organise a time for a chat. Or call us on 1300 20 30 30.
When you attend our offices in Melbourne, Sydney or Brisbane you will receive a free copy of my latest 2 x DVD program Building Wealth through Property Investment in the new Economy valued at $49.
Also published on Medium.