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I have been approached to sell US properties to Kiwis

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  • I have been approached to sell US properties to Kiwis

    Hi allMy name Chris, I am 24 years old and am currently completing a degree at Canterbury University.I was recently approached by the owner of a steel frame home/container home company that alsospecialises in selling USA property investments. He has offered me the position of NZ rep for this company andis looking for me to sell steel frame homes and US investment properties to kiwis as he believes there is a real marketfor selling US property investments in NZI informed him that I was interested in learning more about the business and could potentially be interested in taking the job, however the more I thought about it the more dubious I became. The company has been running for approx 3 years and he has sold approx 1000 US properties to investors around the world.The problem is, the way he proposes the US investment side of the things, the more I think it just sounds too good to be true and usually when it sounds that way, it is too good to be true. He guarantees the investor a specific profit. For example, lets say an investor had $40,000 to spend. He would guarantee them a $10, 000 profit, if the property did not sell, he would buy it off the investor at a 10,000 profit to ensure that the investor made their profit. He assures me this is a rare occurance as having the right people scouting potential investment properties ensures a greater chance of the property selling.I just feel unsure about whether or not there is a legitimate oppurtunity for me with this. Will many people really be willing to hand over large sums of money to purchase overseas property regardless of how much they trust me and the company?I have another question. The owner thinks the best way to get possible investors is to get real estate companies and their agentsto try and sell this to their clients too, in the hope of generating more interest. Would they really choose to be affiliated with a US property investment company?Any advice anyone here has would be fantastic. I havn't signed anything and do not plan on it until I feel confident about thispossible oppurtunity. Thank You for your comments in advance
    Last edited by donna; 27-07-2011, 05:52 PM. Reason: removed email address -

  • #2
    Was his name Dr Ungutu and has he also got $47,000,000,000,000,000 squirrelled away ready for you to earn a share of the interest in exchange for your bank & passport details?

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    • #3
      Do you know him?

      Sounds like a SPAM to me..
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      • #4
        Any guarantee is no better than the entity standing behind the guarantee. In most property deals, the guarantee is offered by a limited liability company, not an individual person. When the going gets tough and the claims on the guarantee start coming in, the promoter simply puts the company into liquidation and walks away scott free. If you do decide to proceed with this deal, do so on the basis that it is a scam and take the appropriate precautions on that basis.

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        • #5
          I do some business with his fianceeI have been skyping with him for about 3 weeks discussing the job

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          • #6
            You mean this is a serious post??? In that case, would you mind ever so much using some sentence structureOtherwise the post is. really hard, too interpret.

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            • #7
              I am new to this forum sorry. When I initially typed the post it was structured much better but when I posted it, it was all bunched together.

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              • #8
                The company has been running for approx 3 years and he has sold approx 1000 US properties to investors around the world
                Umm I wonder what they are worth now? Even the most recent properties that have been flogged off to Kiwis - I wonder how those investors are feeling right now? I suppose ignorance is bliss!

                Cheers,

                Donna
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                BusinessBlogs - the best business articles are found here

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                • #9
                  In NZ there aren't enough great properties for investors to buy up and there is intense competition for a good rental.

                  It makes you wonder why people in the USA and trying to flog their real estate off to other countries. If the deal is "once in a lifetime" then why hasn't a USA resident already bought it?

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                  • #10
                    I agree Auckland Investor, that is one thing that made me wonder. I mean you would think that people in the states would be going crazy snapping up all theseproperties.

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                    • #11
                      USA has more cheap properties than money around to soak them up, hence the good deals.. BUT... you need local expertise and local on the ground people to mitigate your risks.

                      In my opinion this has an unreasonable risk of being, if not an outright con, then at least way more risky for the investor than is disclosed in the marketing.

                      If a deal goes south I'd expect that the Kiwi investor could kiss their $40K goodbye, with no realistic means of redress.

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                      • #12
                        scam, involve your trusted lawyer earlier rather than later.

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                        • #13
                          I agree with the previous posters and would like to add that the gentleman obviously has never dealt with a local real estate agent if he thinks they will sell American properties which I doubt very much would provide them with the comms they would get here.

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                          • #14
                            Hilarious ... thanks for the humour, did he know a deceased relative and you are the sole benefactor of the will, the amount is $40,000,000 but to get the funds transfered you will need to pay a fee or get him a passport ?
                            Last edited by shanecarruthers; 27-07-2011, 09:35 PM.

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                            • #15
                              Thanks for the advice. While I do Believe he is genuine I don't feel comfortable getting involved in this.

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