20% Annual Interest

[hab1966]

I came across this company in Lancashire Life (off all places!)

http://www.harewoodassociates.co.uk/why_harewood_a...

As usual, sounds too good to be true, wondered if anybody had anything good/bad to say on their offer.

[Eric Mc]

Ponzi.

[Moominho]

I'll be surprised if anyone has anything good to say about the offer. Avoid.

[14-7]

Surely if it were that easy they would just be doing it themselves and not giving the profits away to others?

[CDP]

You know the old saying "if it sounds too good to be true..."

I'd trust Geoffrey Archer before that lot.

[Piersman2]

Hmm.. interesting. I wonder how this works.

You supply the money to buy a property. E.g. take all the risk.

They develop it for you at a massively inflated price which is offset against the resale profit

The property is sold with the sale price minus their costs being returned to you.

I can see why they like that model rather than buying the places themselves and developing them. They work for imflated wages and profit on materials and have zero risk should anything go wrong.

Everyone's a winner. So long as the house sells for a substantial profit. You're the only loser if it doesn't. Either way they get very well paid.

[anonymous-user]

CDP said:

You know the old saying "if it sounds too good to be true..."

Exactly my thoughts. How many people fall for this crap?

[chris7676]

14-7 said:

Surely if it were that easy they would just be doing it themselves and not giving the profits away to others?

Ask the same Mr Buffet
It would make sense if you have limited capital yourself and want charge others for your services.

[Countdown]

http://www.pistonheads.com/gassing/topic.asp?h=0&a...



I wouldn't.

[anonymous-user]

there isn't a pole long enough

[Eric Mc]

Considering they seem to be a relatively new company, they haven't even managed to submit their most recent set of accounts nor the Companies House Annual Return by the statutory due dates.

Doesn't bode well for any other aspects of their ability to conduct themselves in a businesslike and efficient manner.

Per Companies House public record -

Name & Registered Office:
HAREWOOD ASSOCIATES LTD
58 CHORLEY NEW ROAD
BOLTON
LANCASHIRE
BL1 4AP
Company No. 07114922





Status: Active
Date of Incorporation: 03/01/2010

Country of Origin: United Kingdom

Company Type: Private Limited Company
Nature of Business (SIC):
7012 - Buying & sell own real estate

Accounting Reference Date: 31/01
Last Accounts Made Up To: (NO ACCOUNTS FILED)
Next Accounts Due: 03/10/2011 OVERDUE
Last Return Made Up To: 03/01/2011
Next Return Due: 31/01/2012 OVERDUE

Last Members List: 03/01/2011

[ringram]

If it was so easy surely they could get a 7% bank loan and pocket the extra 13%
I wouldn't want to share those returns with anyone. They claim their variable returns are 20-40%.

[jan50]

I tend to see a few of these type of non FSA regulated cases coming to my business but there's not much you can do once you've lost your money in terms of redress.

Most people would avoid like the plague.

[98elise]

All I needed to read was this >>>> "between 40% and 70% per annum" and "100% safe investment"

If this were possible the genius behind it would be very rich, and not need your money.

[jeff m2]

I know nothing about the above company, but probably no good as they need to advertise to the general public for funds, if they had a successful track record they would get their finance thru other channels.

Syndicates are not that uncommon, quite often used for the purchase of restaurants here in the states.
Four or five people put up somewhere between 100 to 200K each. Advantage over bank financing, faster money in and better cash flow at start up.

Access to this would normally be through business brokers, not a two liner in the Mail.