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New wave of dodgy property seminars, Gov. warns

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Your Investment Property | 22 May 2013, 11:10 AM Agree 0
The WA state government is warning investors against property spruikers, following a spate of ‘free’ property investment and wealth creation seminars held by groups based out-of-state
  • Brian Clarke | 23 May 2013, 04:53 PM Agree 0
    It is about time ASIC regulated the Property Investment Advice industry nationally.
    Look how many property "spruikers" are out there requiring no qualifications or accreditation.
    Now the focus is on borrowing to buy a property in a SMSF.
    Thanks for peak industry bodies such as the PIAA lobbying the government.
  • Cameron McEvoy | 24 May 2013, 09:47 AM Agree 0
    I agree; this is a very concerning issue. Obviously not for seasoned or experienced investors, who see through all the marketing/sales speak. Unfortunately, those that are green to property investment and seeing the 'educational' appeal of these seminars. Problem is, what they believe is education; is really only spriukers highlighting the pro's and not the con's, of certain kinds of investments.

    This extends beyond just Australian property sales; I am currently looking to procure US property from an Australian-based company (I still haven't decided which company as of yet), but they are even more guilty of this than Australian ones! They are heavily taking advantage of Australians having very little knowledge on the US market. Be wary/cautious of any company you engage, and be sure to ask lots of questions. If they get frustrated by your line of questioning; get defensive, or flat out refuse to answer any questions you have, I'd run for the hills.
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