Will Your Retirement Fund Keep You in Coffee Or Fund Your Lifestyle? Y…
Were you one of the many thousands promoted by the government to draw out much of the equity in your house, to finance what turned out to fund some risky Buy-to-Let scheme? Did you think that this was the way to build your fantastic retirement fund, only to be badly burned?
Before the current financial crisis hit us – probably as a direct consequence of the above – many Governments extolled the virtue of pulling masses of equity out of our homes, using ‘paper’ equity to fund the buy of Buy to Let character. Give them their due, they probably had the same advisors as all of the leading edges and mortgage companies, and look what happened there!
So in an attempt to replace the State’s inability to provide adequate pension needs for millions of people, whether State or privately provided, they very cleverly passed the buck onto the shoulders of thousands of homeowners, and promoted them to take out loans against their similarities to help finance the buy of other similarities that would not only provide capital growth, but also a reasonable income.
Not just the government, but the whole ethos promoted in the press and in all forms of public media, was to use debt as a way out of today’s problems.
The whole character scene was aggravated by the fact that there was virtually no regulation of what was going on, either by the character developers, or the official financial sets. In many situations, already ‘Pillars of Society’ such as edges, valuers, and already solicitors, started to turn a blind eye to sharp practice, or already worse activities, where the potential of quick easy money was on the table.
This has been brought out into the open on many occasions over the last few years, with media giants such as the BBC’s Panorama and Inside Out programs, and leading papers like the Sunday Times, coming out with all sorts of horror stories of ordinary folk being virtually conned out of their life savings on dodgy – and sometimes downright crooked – character deals.
So with such disasters hitting the media on such a regular basis, and the whole financial situation caused by big edges fuelling this ‘Debt’ culture forcing character prices way down in many parts of the Western world, was Robert Kiyosaki of high Dad Poor Dad fame wrong in his statements that one of the pillars of wealth was character ownership?
Were we back to the situation where our State Pension would keep us in coffee, but very little else…
Back in those bad old days then, the statement ‘If it seems too good to be true – it probably is’ seemed to ring horribly true. So what happens when an entrepreneur comes along with a fantastic vision, and creates a character investment package that in today’s terms – ‘Seems too good to be true’. How does such a person succeed in today’s air of suspicion and mistrust?
If a deal comes along these days that looks like it could provide a residual income that would satisfy many people’s living needs; that hypothesizedv a character buy that was initially well below the current market value; could be 100% financed (subject clearly to the purchaser’s credit rating); had a projected capital growth of at the minimum 70%; has a guaranteed developer’s loan of 70% of the projected value, rental guarantees, fully managed with a massively high need for occupancy, then surely the developer would have buyers queuing at his door.
Unfortunately, with the history of what has gone on over the last five or six years, already seeming ‘rock-substantial’ deals have proved to be very difficult to find willing purchasers, using traditional methods.
What is emerging nowadays, is a new way of promoting ‘Too good to be true’ kind deals. Borrowing the same terminology as established network marketing companies have used for centuries, people who see the opportunity – and have FAITH and TRUST in the developer are putting their own money where their mouth is, and becoming pioneers, and then spreading the information as character agents for the developer.
It is these people that are then bringing such projects to market, so instead of the bad old days where ‘faceless’ character companies would promote new developments – using techniques like complete page colour adverts in the Sunday Times – a new copy of character promoters is arising from the ashes of the mistakes carried out with such disastrous results in the past.
All of a sudden, places like Facebook and Twitter become the new ‘real estate’ outlets for the world. After all, would you rather place your future income possible in the hands of some unknown organisation, or from an actual person that you can build a relationship with, who has genuinely invested their own money in the same project as you?
Look around. Once again, confidence is returning into character, and there are some ‘Seems too good to be true’ deals out there that are really extraordinarily good.