English
FrançaisI have today been contacted and told that there is a French property Exhibition of at Olympia from the 11th to the 13th of September 2009.
I am trying to get together a group of investors to hand out leaflets to people attending identifying the downfalls of the leaseback system. I am prepared to fund the leaflets out of my own pocket and set up a website to give more details.
This will be a case of handing out leaflets and contacting the people at Olympia to let them know how and why we are doing this.
Any takers?
Mutley
regarding mutleys plan to attend the expo....do you really think this will be of benefit to current leaseback investors who have suffered enough. just remember we may need a market to eventually these investments back into in the future.
Gabriel
I think you are missing the point here totally. The idea of this is to bring to the forefront the miss selling involved with leasebacks. This is no different to writing to an MP or setting up a petition (both of which have been done) but instead it is tackling the issue from the front with the public.
Like I have written on here already this week, to get noticed you are going to have to suffer in public, not in private.
As for the marketting it has nothing to do with this, it is the miss selling we are dealing with.
If there is one thing I have learnt over the last 18 months it is that people are happy to sit back and moan about what should have been but less likely to actually get out there and do something about it. Perhaps thats the reason why I have my rent in my account and now consider this as a good investment!
Mutley
Good Luck Mutley. I'm afraid I can't join you, but I do
know if I knew what I know now I would never have bought
into this leaseback agreement.
Joanne.
Gabriel,
What a selfish and gutless attitude!
Surley everybody who has been mis-sold a property in the leaseback scheme,(and most of us have!),should support mutley in his attempt to dissuade new "mug punters" from being sucked in!
I wish there were people handing out leaflets before i bought!.
regards
john
I too once believed that it was necessary to be careful not to damage the reputation of the leaseback scheme, as I knew that one day I might want to sell my property. However, that was when I thought the problem with my residence was an isolated incident and I had just been particularly unlucky. I now realise that such problems are widespread throughout the French leaseback industry and I don't believe that keeping quiet is going to help our case.
It does seem to me that many people are prepared to just sit back and wait for someone else to solve their problems. I had a very poor response to my post (in another thread) saying that I had written to the relevant Embassies and suggesting that we approach TV companies for some coverage of the issues (hoping that other owners write some letters/e-mails too).
If we let the management companies get their own way, we will ultimately lose money on future re-sales, since I now understand that the re-sale value of a leaseback property depends on the rent and not on the local property values - I believe the selling price should be pitched to achieve a yield (annual rent/selling price) of at least 5%. Therefore, lower rents result in lower selling prices. Some companies want to slash rents by 40% - if we let them do this, we will instantly be accepting a 40% cut in the market value of our property. So it is important that we fight these people now.
CliveUK
I receive a regular email from French Entree.com.Early this year i replied to Nina Richards,the deputy editor,telling her the mess that the leaseback system is and quoting this forum.
She emailed back saying she would contact me regarding a future article on the problems with leasebacks!.She hasn't yet been in touch!
I have just received their latest email and if you look closley you will see many articles promoting leasebacks on her site!
I think that her advertising revenue is more important than doing a negative article on leasebacks.
regards
John