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these crowd funding property schemes are an awful investment

(3 Posts)
returningtotheuksoon Tue 14-Jul-15 15:59:45

Just watched dragons den and a guy that had already made and lost his millions through property was flogging some cround funding site to help people "invest in the property market".

I know that in general many on MN are heavily into btl. But this scheme looks so awful it should be illegal. Looks like you can only pull your money out every 5 years and the property company wins either way as they buy cheap homes, redevelop and sell at an inflated price to the "investors ".

My flat I bought in 2007 is still worth less these days but at least I have a flat I like and could stay at and make use of

Spartans Tue 14-Jul-15 16:03:20

Yanbu I thought the same when I watched. Made me laugh how is company was worth 20 million....apparantly

LazyLouLou Tue 14-Jul-15 16:30:13

He really came across as slightly unhinged: "I'd love to see Deborah Meadon's face when I ask for a million" and "It's an option". We thought it was just like time shares, but without the option for a holiday!

But I was hooked by the garment steamer. I have been looking at them for ages and those are by far prettier and cheaper than some of the equivalent pro versions out there.

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