NSP Bulgaria

A

anotherfool

Guest
Has anyone had any experience of working withe NSP International? They are promoting an off-plan property sale in Bulgaria, in a place called Balchick. The deal is to put up investment capital, with a guaranteed return, secured by the value of thre property & land. Sounds a bit too good to be true. Anyone had any experience with these type of deals?
 
I looked a this deal in a little bit of detail - It sounds like a great opportunity - Guarenteed buy back etc, however you need to understand the following...

If you read the prospectus in detail - you will see that You only get the 100% return if they sell your unit. If they do not sell it within a given time frame its yours for the initial money you put down. Some might not think this is a bad deal - however from the ressearch i have done, i am not sure what the resale opportunities in this area are and whether or not you would rent it if you were left with it. I choose not to persue this any further

Hope this helps you

thanks
 

I came to the same conclusion
 
As I know the area I rang them up to find out the story. The sales agent hadn't a clue where the development was going to be in relation to balchik. I asked him if it was north or south of Balchik and he had no idea. That was enough for me so I hung up!
 
Thanks for replies. Much appreciated. Your assessments of the deal are correct. My confidence level is low. The likelihood of resale is based on the low purchase price at apparently below the market value. It sounds a bit too good to be true? I have not worked with NSP before and I'd like some feedback on their track record. Have they delivered the results on deals of a similar nature in the past? Thanks.
 
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