PROPERTY INVESTMENT “SEMINARS”!

If you want to go to one or more of these, please do, as long as they come free-of-charge and you promise me you won’t give them your name, address, email or any other personal details.  Resist their pleading.  Just go along, listen with a cynical ear, and leave.

They’ll tell you they have “inside secrets” to which only they have access.  Rubbish.

They’ll purport to be licensed financial advisers.  Well, they may be, but under whose licence?  There are plenty of companies that “rent” out their Australian Financial Services Licences (AFSL) to so-called “Authorised Representatives”.

The owners of AFSL’s are “supposed” to make sure all their “Representatives are of good character.  Again, that’s rubbish.

ASIC hand out thousands of AFSL’s and don’t have the staff to investigate misuse.  When they do investigate, it becomes a cat n mouse game where the bad boys just “Phoenix” a while later using someone else’s licence.

Many represent themselves as licensed real estate agents.  Many are not as they aren’t fit and proper people to hold such a licence.  Instead, they “use”, or “rent” other’s licences – an illegal practice.

It’s like this.  If I found a scheme, a system, a way of buying, selling and renting real estate with no money down, positive gearing, above market rents and no risk, I would be doing it, quietly, for myself.  There’s no way I’d be “sharing” it with anyone else and saying that I was doing it “for the good of mankind”.

Be careful…

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