InsideTrack property investment workshops-anyone been??

[Dino D]

I'm interested in property and have often heard the radio ads for this company.
I've met someone who who has attended their workshops and invested with and says he's done very well(owner of a B+B i stayed at once).

I'm going to one of their free workshops to check it out.

Was wondering if anyone on here knows anything/been to one/invested with them/made or lost money with them??

They offer traing courses on property investing/devloping as well as opportunities group buy new developments they find etc.
BTW their website is: www.insidetrack.co.uk/

[The Londoner]

I believe the two operative words you need are "don't" and "bother". One, there is no such thing as a free lunch, and two, when you see a bandwagon coming, that's the time to jump off.

[steviebee]

I received one of their mailers for the seminars this week.

I tend to agree with The Londoner. If it looks too good to be true, then it usually is.

[chrisgr31]

Not heard of the company although would agree that if it sounds too good to be true it probably is. Property investment can be a real money spinner but it can also be a real loser!

It might be worth going on the course to see what they have to say, but leave your wallet etc at home!

I would worry about buying a property through this type of company particularly when they say Valuation £x Discount £y Price to members £X-£y. Who valued iit at £x in the first place? A property is only worth what someone is prepared to pay and the true value could be £x-£y or even lower! Certainly I would get independent advice.

The usual problem with property is that you need to have vast sums of money available to spread your risk. If you invested say £100,000 in one property and it was rented for £7,500pa you'd be fine, but if it becomes vacant it becomes more difficult. Especially if it takes a year to let, and then only lets at say £5,000pa.

So a form of property club is a good idea to spread the risk, but I'd want to know what the charges are, who is valuing the properties etc

[Rich25]

Dino,

I have a lot of experience mopping up and regenerating portfolios for clients that have previously been "organised" by these guys. Please do not waste your time. I can give you several examples on private mail of clients they have dealt with.

If you are based in then London then feel free to private mail me as I might have some ideas for you on the investment front. What level of investment are you looking at? Growth/Yield? Are you looking for development opportunities or completed properties to use?

[Dino D]

Thanks for the replies guys. I did waste my toime and go to free 2 hour 'workshop'. Its not a workshop but a sales pitch just like the ones they use for MLM companies.

You have to stump up 2,5k on the day to book a two day seminar. If you don't book 'on the day' it goes up to 4k!!!

You will be in front of property professionals for 2 days. However there around 200 people per seminar so not much one on one then!

And after all that, if you want access to there 'club' where you can buy discounted properties off plan, get no deposit buy to let mortgages etc you have to pay a further 7k to join!

I don't mind paying for eductaion. After all, I paid to go to school and university but this seem OTT for what it is. Certainly there is money to be out of property but this felt a bit too flash and american for me.

Ultimately it wasn't a waste of time as I have been wanting to see for myself what they are all about-sometimes you just have to do it for yourself.


PS: I'll take you up on your offer Richard-just browsing your company website. Your company looks very interesting indeed.

Edited by Dino D on Thursday 24th August 15:15

[Rich25]

That 2 day limited access is a load of shollocks as well. Real property professionals will have that stuff for a month before I.T./ I.A. get a sniff of it. Clients on average pay almost £25k in fees to purchase their first investment property!

[MichaelM74]

I agree, Inside Track are a waste of time, I am a commercial mortgage broker and we know a few residential mortgage brokers who worked for them giving so called professional advise for a while, it is a great big rip off. Stay away !!!

[ScottNicol]

never had experience of it but the fees they charge for wot they do seem a bit of a rip off to be honest, id prefer to learn myself thank you very much

[andy_s]

Just reading about these guys today on moneysavingexpert.com and other sites (looking arund for other reasons but got distracted). The general concensus there appears the same - no benefit - what they can tell you is available publicly with a bit of google time and their induction talks are just that....to suck you in....

Just what I read, maybe I'm wrong, but I don't think so!

[Dino D]

andy_s said:

- what they can tell you is available publicly with a bit of google time and their induction talks are just that....to suck you in....

Thats pretty accurate. From my own researcha nd a couple of off the shelf books I have learned alot of what they claimed to teach. Also, as far as introducing you to developers and getting you in early on new developments: my letting agent who we rent our property from now is willing to that free of charge and they operate nationwide.

I think people can and do make money with inside track but it it is maybe not the best strategy if you are willing to put in the time and eductate yourself (as you should do if you intend investing in such high ticket items like houses!!)

[ScottNicol]

you got to ask yourself , how did these people who are teaching you learn all this ?

load of minec IMO