Hi Guys
Read on our Teletext tonite about Australian property scams.
Denise Brailey executive director of the RE Consumer Association was quoted that she knows of 9 property scams with an estimated amount of $A1.5 billion already lost.
Just being nosey, where and how is this happening?
Regards
Hey there Muppet,
One property scam thats been doing the rounds on TV is Qld units being sold to SYD investors at inflated prices…
Jason
Hey there Muppet,
One property scam thats been doing the rounds on TV is Qld units being sold to SYD investors at inflated prices…
Jason
Hi all,
There will always be scams, read some older posts.
Cheers
Sooshie []“small steps make the journey” (SAS)
EZ-Rent was born from a property scam. After attending a ‘seminar’ a company flew me to Brissy for $100, put us up in a hotel, all expenses paid and they then spent the day pressuring me into buying an overpriced unit about 30km from the CBD.
They had a zippy computer program that told me it would only cost me $3 per week and gave me a pretty report.
Fortunately I didn’t buy..
But it was through the report that I made a spreadsheet to do my own calculations and it was during the developoment of the spreadsheet that I realised just how skewed the figures were (like a $5000 finance establishment fee).
Once I had it right, I rewrote it ‘properly’ and the result is EZ-Rent..
I also became a bit cynical afterwards, particularly when I see all those seminar ads in the paper..
EZ-Rent. The free tax and cashflow simulator for Australian property investors.
http://www.ez-rent.com
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