Avoid all land banking products

[Ah Hai]

Dear Mr Tan,
I really hope to get a reply from you as I respect your experience in many areas.


There is a Singapore company called X and they sells plots of land in UK. We are genuine investor and like to have your advice if you heard about them and whether there is any issue on reputation or scam which we should be aware of. There will be risk as we understand but it is a scam, we should be to think carefully.

REPLY
You should avoid all land banking schemes It is not worth the risk. You cannot make a judgement of their reputation or rely on it.

There is a chapter in my book, Practical Guide on Financial Planning, that deal with unregulated products such as land banking and other get rick quick schemes. You can buy the book ($12) here.
Posted by Tan Kin Lian :oIo:

 

[Watchman]

Like you do not already knew the risks of absconders .

Lawyers can even disappear during a legal process .

What more in this sort of dubious marketing ?

 

[ccchia]

If something is too good to be true (such as a promise that you would make lots of money in a short time, or even "guaranteed" lots of money if you wait several years), then it is probably not.

However, many Sinkies are unfortunately easily fooled, so much so that PAP for example, has managed to fool or scam many into voting them into the govt for decades with unfulfilled promises.