Nothing is guaranteed when investing.
I’m constantly amazed by the marketing materials and messages telling us how simple and easy property investing is. This occurs because the property investment industry is unregulated so these spruikers can get away with unsubstantiated claims of big returns, while glossing over all the serious and important details and potential risk involved.
The good news is they’re easy to spot
With so much money on the line for anyone investing, for me the biggest scammers claim they can teach you all about property investing in just a couple of hours or over a weekend ‘boot camp’ course. If it was that simple and we were all guaranteed to make money, why wouldn’t absolutely everyone do it?
The bad news is scammers are in all areas of our industry because of this lack of regulaton. The good news is they’re easy to spot. They’re the ones who start off loving you to make a sale, until you say ‘I’ll think about it’, then the pressure-selling starts and the amazing opportunity ‘will be gone’ if you don’t act right now. Be careful.
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Australian Property Investor, 2 July 2015, page 12