Arnold
CibbuanoInvestment Scam Alert
April 19th 2006 00:46
During the 1990s a lot of investors lost a lot of money buying over-priced properties in Queensland. They got caught in a scam known as two-tier marketing, where out-of-town buyers pay more than local buyers, thus creating two tiers of prices – true prices and inflated prices. Apparently, these scammer companies are at it again and back in business throughout Australia.
Companies throughout Australia are almost using the exact procedure used in the nineties. The telephone call about reducing tax, the free seminar, the glib spiv sprouting slick lines about wealth creation while also fostering fear about poverty in retirement. Then comes the free no-obligation in-home consultation, the financial assessment, the trip to Queensland and, of course, the financiers and the lawyers.
The moral for any potential investor is to do your homework especially if you intend on investing in an area you don't know well. Figure out local housing prices, ask questions and don't get fooled by the glossy ads and smooth talking.
Companies throughout Australia are almost using the exact procedure used in the nineties. The telephone call about reducing tax, the free seminar, the glib spiv sprouting slick lines about wealth creation while also fostering fear about poverty in retirement. Then comes the free no-obligation in-home consultation, the financial assessment, the trip to Queensland and, of course, the financiers and the lawyers.
The moral for any potential investor is to do your homework especially if you intend on investing in an area you don't know well. Figure out local housing prices, ask questions and don't get fooled by the glossy ads and smooth talking.
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