Over the past 5 years several property investment companies have sprung up offering naive property investors the chance to share in the growth in the UK property investment industry. some companies offer excellent advice and resources but the majority of them have jumped on the property investment bandwagon and offer nothing more than slick marketing without any substance or very little experience.
Damian Qualter, MD of www.BuyProperty4Less.com, states " The Property Investment Industry has matured over the last couple of years due to the UK housing cooling down. This has not however stopped several new property investment companies springing up offering newbie investors a share in the potential profit opportunities that are available. Caution should be aired however. Due diligence should be undertaken to see if the "Golden Opportunity" does not turn out to be no more than "Fools Gold".
So what should any New Investor look for when searching for a Property Investment company?
Damian Qualter replies "There are several questions you should ask. If the company is not forthcoming with a suitable reply youre best giving it a VERY wide birth. I would ask the following:-
1. How long has the Company been established 2. Who are the directors and what are their credentials? 3. Are the Directors and Senior managers experienced in Property Investing 4. Is it possible to speak to a few of their existing customers? 5. Ask if you can visit their place of business? 6. Ask for Proof the discounts they offer are genuine. 7. Ask what developments have already been successfully completed
Its basically common-sense - dont let some slick sales man tell you any different. Stick to your guns and get the answers you request before you part with a penny of your cash. If they property investment company can answer the questions to your satisfaction the next thing I would do would be to time-table a meeting with the directors of the company at their premises.
You can usually get a feel for the company from the initial meeting. In the end there is an element of trust from both parties - but do your homework first. Ask for professional references - many of the "fly-by-night" operators will run a mile if you ask as often they are newly established and any professional worth their weight wouldnt give a glowing reference.
In the UK there are literally only a handful of companies who I feel have the experience to offer property investment advice that is useful for their clients. Most companies are inexperienced and may not be around in the long term - Choose wisely!"
So is the Industry full of B*llSh*t? " There certainly are some shady characters out their who are only after your money - they can usually be found out quickly if you follow my advice" Damian Qualter concludes.
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