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I've been contacted by the above company, wanting to know if I would be interested in joining their Cashflow Builder scheme. Essentially, they source your property, renovate it, get it tenanted (for a fee) and then help you to build your portfolio. On the surface, it sounds like a good plan, although I do have some misgivings about the numbers being used to sell this proposition. As with all things, we are told to do our due diligence, and I have told them I am interested, in principle (mainly because I currently don't have the time to invest in sourcing my own property, sorting out mortgages and refurbs etc), but that I need some more time to dig into the details of it etc.
I just wondered if anyone here has heard of them, or has signed up to this plan. I'm very risk averse, and I always think that when something sounds too good to be true, it usually is. So I have donned my sceptical hat, and I'm here, asking you more experienced people if this is a RUN AWAY situation, or something worth investigating further.
Thanks for your time, as always,
Hi Carol,First of all, there is no Insight Group. It's not a legal entity just an umbrella name for a number of companies that have the word "Insight" in them.We have these threads on Arun Curry: Aran Curry advice Property Insight, Aran Curry - any info?
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
Thanks Vanessa. Very much appreciate your reply.
Having looked at the first thread, and talked privately to another member, I'm pleased that my antennae sent me here. It may be that it's all legitimate, but I have had several alarm bells ringing since talking to them, the main one being that they talk about equity release as a form of annual income. When I ran those numbers just in my head I could see that you could very well end up owning sod-all after years of investing with them. The only people making money are the Insight folk, and having told them how risk averse I am, I find this cavalier approach to MY money and my future distasteful to put it mildly.
I may be taking the snail's route through this property minefield, but at least that gives me the time to see and avoid the mines along the way! Even if the money I'm making isn't growing terribly quickly, at least it's still under my control. Yikes!
Hi Carol,With the implementation of the PRA, this business model will likely fail as it will be far harder to release equity. For the people already on the programme, they will get stuck imho.
Many things about the model troubled me, but that in particular was a big AWOOGA.