DYOR Is Not Just For Crypto
One Big Con
Over the last 5 years I have had one company cold calling me trying to sell me an investment consisting of a plot of land in the UK. Firstly I am not against buying a plot of land it just seems too high risk as I have lived in the UK so I know and are aware of the planning laws. Anything you want to do takes permission as my Uncle has had a field for over 40 years and still has no permission to build. He has fuel pipes which supply Gatwick Airport running underneath and they pay him rental.
This sales speech is all around the proposed 400% you will earn from your investment within 4-5 years. Plots start at around $20-$25K and I am not interested as the risk is way too high. When I was living in the UK there were a few properties I tried to buy whilst moving up the property ladder and pulled out due to planning permission. These were rural properties in a green belt area and converting farm buildings into a residence is not an easy task.
In most cases you are buying worthless land that can never be developed due to the green belt or is on a flood plain. Locals know this and why those pieces of land exist.
I did a background check on this company the last time they phoned and the picture is not that rosy. Instead of investors having made 400% they are losing money as the planning permission has been denied on two of the projects I read up on. This could all change in 5 years time however and believe these are some of the deals they have been trying to sell me.
The way I see this sales pitch is they lure you in with a high 400% return only to be advised further down the road that this is not going to happen and they offer you an exit plan at a percentage of what you paid. This same piece of land is now sold onto the next gullible fool and you may or may not get lucky. Not a bad business model if you have a few thousand plots as even though it isn't being developed you are still making money.
One success story out of literally hundreds of schemes all sold out. Sold out means absolutely nothing as you have just sunk your investment into a bottomless pit overpaying for worthless land.
This company phoned me yesterday and told him what I thought of their scheme and to bugger off and leave me alone. This is a legit business as it may or may not happen and more likely won't. It is amazing how some companies make money preying on the average Joe. They would last
Maybe 5 years ago I would have fallen for this scheme, but after being in Crypto the one thing you do is research. I do think we have become more street wise and aware of how corrupt and conniving businesses can be especially the ones handling investments. I can see these leeches coming into crypto at some point offering crypto investors the opportunity of a lifetime which it obviously isn't. The moral of any investment is to always do your own research.
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