Quote:
Originally Posted by Lysos
rumpola,
just do a bit of research on these land banking scams - I've given you the link.
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Lysos,
Im not knocking what you have said, and I can understand your concerns with this (especially the errors in Grammar on the website, which is totally unacceptable IMO).
The point I was trying to make was, offering your portfolio of properties/investments that you have to sell, to other people that may be able to sell them for you, is standard practice in the overseas property industry.
Most of the bigger companies have an agency department that sign up other smaller agencies to sell the properties for them, while still taking a cut of the commission available. Its money for old rope essentially.
Yes, there are LandBanking scams around, but surely if you do your due dilligence beforehand, you shouldnt get exposed to this sort of fraud, and if you have any doubts whatsoever, you should run a million miles as fast as you can.
If you dont do any due diligence and take whatever you have been told at face value then there is a possibility you will get burnt.
At the end of the day, there are some good deals to be had buying land, but its the same with any investment strategy, you have to make sure the potential gains outweigh the risk.