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I received an email from a reader regarding an investment opportunity and he asked me for my opinion:
Hi !
I heard about your blog from my father and I am very impressed! I would like to ask you if you know about the German Real Estate Investments through XXXXXXX Wealth Holdings. The minimum cash in is $10k and the yield is 24% over 24 months. Is it too good to be true? Is it a scam? Could you help me look into it please and give me advice on whether to cash in or not. Thanks!!
IL
My reply:
Hi IL,
Ask them how is that 24% return on investment over a 24 months period achieved. If they cannot explain it to your satisfaction, don't touch it with a 5 feet pole.
If an explanation is given, see if they are paying you from cash flow generated by the properties or are you simply taking back some of your own money.
I visited their website.
Their "dedicated and talented management team" has over 25 years of combined industry experience. I wonder how many people are on their team?
At the bottom of the page, it says that they are not regulated by the Monetary Authority of Singapore. That doesn't sit well with me.
I don't know if it is a scam but when in doubt, I stay out. :)
Best wishes,
AK
Apology: Due to an administrative oversight regarding an advertorial earlier, I had to take down this blog post and re-publish it today. Very sorry for causing any discomfort to some readers. :( - AK, 4.52pm, 6 March 2014.
Ask them how is that 24% return on investment over a 24 months period achieved. If they cannot explain it to your satisfaction, don't touch it with a 5 feet pole.
If an explanation is given, see if they are paying you from cash flow generated by the properties or are you simply taking back some of your own money.
I visited their website.
Their "dedicated and talented management team" has over 25 years of combined industry experience. I wonder how many people are on their team?
At the bottom of the page, it says that they are not regulated by the Monetary Authority of Singapore. That doesn't sit well with me.
I don't know if it is a scam but when in doubt, I stay out. :)
Best wishes,
AK
Apology: Due to an administrative oversight regarding an advertorial earlier, I had to take down this blog post and re-publish it today. Very sorry for causing any discomfort to some readers. :( - AK, 4.52pm, 6 March 2014.
Bloggy Award
12 comments:
Hi Ak,
Even though you put xxxx wealth holdings, I know who are they. They are actually quite popular in Singapore now. I've been to one of their gatherings before and indeed the returns they promised are quite high. I did ask how safe is this investment and they just keep saying this investment is a no brainer. Many of those people who invested did get the 12% interest on the first year. They are the same people who are promoting the investment now. Seems like MLM to me.
An investment can still be a scam even though you are paid the interest. This has happen to those gold scams in the past. Anyway, this xxxx wealth holdings is on the MAS investor alert list. I will also stay out with so many doubts. Whether or not its a scam only time will tell.
Aiyoh, if the returns are so good, I will keep it for myself and won't share it with anyone else loh. Why would they even need to advertise in the first place?
"Sounds like Swiss cash scam. Ppl just don't learn from past history. Do a google and plenty of touch and burnt. God bless these ppl."
Yap Tong Xiang (posted on FB)
Hi SGYI,
Yes, I know what you mean. I have experience with someone who bought into some gold investment scheme who tried to get me to join in.
That guy benefitted from the scheme because he was early. I wonder how many got sucked in by him after that.
If the only thing the people at XXXXXXX can say is that "this is a no brainer investment", we should run for the hills.
Hi Matt,
Hey, long time no see (your guest blogs). ;p
Indeed, if it is so good, why share with people? Aiyoh, but there are some people who really share good things with people. Ahem... ;)
is dodgy lah... gold, land plot, whatever, the mode of operation is always the same.
good luck to suckers who bought hahahaha!
I was invited for to take part in some gold investment scheme previously. When I asked how they achieved such high return. I'm being told that they have a team of specialist trading gold and earn high return by buy low sell high on daily basis.
I took the S$30 voucher after spend half an hour listening to them. Quite a decent return for my half an hour... Ahem...
Hi PSTan,
Wah! :o
You scammed the scammers! -.-"
You good! ;)
Actually, lot of such scheme or hard sell scheme are using voucher to attract ppl to attend. If you are firm enough and have free time to spend, you could just attend it and walk out with voucher
Hi PSTan,
I will add this to my list of things to do when I retire from active employment! Thanks for the tip! ;)
Hi AK,
Sxxxx Wealth Holdings? haha
You compare the 24% returns against German REIT yield here (search "germany")..
Quality German REITs are yielding less than 10%..
Too good to be true = It's probably a scam.
Matthew
Hi Matthew,
Missing a few Xs. Hahaha... I think it is SXXXXXX. ;p
You have made a very good observation but we cannot be sure that it is a scam lah. ;)
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