New investor needs help researching!

Discussion in 'General Property Investment Discussion' started by george christou, May 17, 2016.

  1. george christou

    george christou New Member

    Hi All,
    I am expat resident in Cyprus and looking to invest in UK.
    I recently came across a total turnkey company based in burnley, Lancashire. they are offering good returns and a full hands off package for 55k.
    their name : "find uk Property"
    Im trying to research more on them but as yet have not found any info to back up what they claim.
    does anybody have anything to offer up on this company, or had dealings with them, or even know of somebody that has,!!
    I would be really gratfull of any advise help. I do not want to go in blind !!!

    Thank to all
    George
     
  2. nmb

    nmb Well-Known Member

    It is probably worthwhile getting in touch with the company and asking them about their strengths and feedback from customers. While customer feedback from any company should not form the basis for your eventual decision it does at least give you something to consider. If you have the time it is also worthwhile looking into the management, the age of the company and if there have been issues in the past as these will no doubt be posted somewhere on the Internet.
     
  3. george christou

    george christou New Member

    Thanks nnb,
    I have talked to them on the phone, they seem eager to help out and answer any questions, I would like to investigate the company or clients further, before investing but cant find anything on the web exept their own site, no one has heard of them, they have been operating for over 10 years. I need a lead, someone who has done a deal with them maybe !!!
    Anybody ??
     
  4. Veronica

    Veronica Administrator

    I would be very wary about buying anything without actually being able to go and see it. Too many people have been taken in by smooth talking operators, parted with money and found they have been sold a pup. If you cannot find anyone who is able to give you first hand reports of having dealt with these people it would be wise to steer clear,
     
  5. Dennis Cortez

    Dennis Cortez New Member

    Hi George, It's not about the company you deal with or the person. As long as the agreement is good and worked out by a proper solicitor then you don't need to worry. Investing in Burnley is for investors looking for rental income as the property price in Burnley hasn't moved up for the past 10 years. Typical ROI in Burnley is around 5%. Hope this helps. :)
     
  6. george christou

    george christou New Member

    Hi All, thanks to you all for your help regarding this company, I will need to do a bit more research before I part with any monies!!
    You have all made very good valid points.
    I will now re-evaluate my outlook on property investment, and perhaps make a visit to uk some time in the near future where I can physical view the property and meet the agent/company selling.
    Any purchase will be scrutinised by a solicitor too.

    Thanks again to all members who advised and replied.
    George
     
  7. nmb

    nmb Well-Known Member

    If you have a bank or some kind of financial institution you trust in Cyprus maybe they have contacts in the UK? They would only ever give you "reliable and trustworthy" contacts because they would not want to spoil their relationship with you.
     
  8. Veronica

    Veronica Administrator

    You don't know how Cyprus banks work. ;)
     
  9. nmb

    nmb Well-Known Member

    From what little I know @Veronica would that include some kind of commission or introduction fee?
     
  10. lookinginvest

    lookinginvest Member

    Unfortunately you get nothing free in the world of international real estate investment with every party wanting to take their slice. However, the extra cost associated with the recommendation of a reputable third party can be worth its weight in gold!
     
  11. Denise Webster

    Denise Webster New Member

    Doing due diligence on companies is so important before you hand over money. Im not sure what the growth of property is like "up north" but if there isn't much about the company then be careful. Go through the website with a fine tooth comb and see what disclaimers they have or connected to certain registered bodies. Also Companies house will give you a bit of information about them if they have registered with them. Also, I would be careful if they are operating from a personal email account.

    Other questions I have is .. "What is their history" - not saying new companies are scams but they should have "things in place" like registrations or be transparent.

    Also you can Google the company in quotations to look for any complaints or scams >> "Company x" "scam"
    Many companies operate through LinkedIn but please don't see this as a "reliable source".

    If they are legitimate maybe they have testimonials - not just on their website?
     
  12. Nicholas Wallwork

    Nicholas Wallwork Editor-in-Chief Staff Member Premium Member

    I have no personal experience of this company but make sure you do your due diligence and check them out (length of trading, search for directors personally as well as the company info). Asking on here is a good step as you're clearly looking into it.

    If you have details of the deal you're being offered we might be able to help with more specific advice / due diligence on that?
     
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