Published on November 23rd, 2010 | by Charlie Wright0
Review: Russ Whitney / Inside Track
While Russ Whitney and Inside Track are above board, this little review is a bit of advice regarding any opportunities you’re offered regarding “buy to let” business opps.
They sound very attractive. Nice juicy returns and your own little UK property empire. Lovely jubbly. Let’s buy a Jag.
But heed the warning from property industry experts. They advise you to stay well away from the “new-build off-plan property” that companies like Inside Track recommend.
I don’t mean to chuck my lot in with the mainstream press. And I’m not trying to rain on any parades, spit in anyone’s milk, or cry into anyone’s tiny fire.
But there are figures to back this up. FIGURES, I tell you!
In the good old days, you could make lots of money from new builds. They were all the rage and rightly so. In December 2000 “new build” prices had risen by an average of 17.7% a year, compared to a 10.1% average for property overall.
There are too many of these big ugly apartment blocks cropping up around towns and cities, and people don’t want them. In December 2006, the average cost of a new flat DROPPED by 0.5%, while overall property prices rose 8.5%.
Nothing’s happened in the past year to change that. So be wary. Be good. And if you can’t be good be careful. Or warily careful in a good way.