Property Secrets, any good?
- Thread starter uroman
- Start date
- Status
MortgageMate
Registered User
- Messages
- 105
Personally, i'd stay away from all of those "guaranteed rental" type schemes, offering discounts. If they promised such good returns, why are they selling them on?
ringledman
Registered User
- Messages
- 620
Ive used them and put a deposit on a flat in Warsaw.
I think they are quite good and offer discounts that appear to be genuine (i.e. not overinflated just because I'm foreign). Most of the discount is lost in their high fee rate of £3,500 though.
Nonetheless they have a good track record and a lot of clients so they can negotiate good delas with developers.
I also like their approach to analysing foreign markets, all objective.
If you are going to buy a property off them then you need to reply to the email within 30minutes! anything less and you wont get a run in!
Hope this helps.
I think they are quite good and offer discounts that appear to be genuine (i.e. not overinflated just because I'm foreign). Most of the discount is lost in their high fee rate of £3,500 though.
Nonetheless they have a good track record and a lot of clients so they can negotiate good delas with developers.
I also like their approach to analysing foreign markets, all objective.
If you are going to buy a property off them then you need to reply to the email within 30minutes! anything less and you wont get a run in!
Hope this helps.
pernickety
Registered User
- Messages
- 175
OMG! I wouldn't buy a fridge under those conditions, let alone a property! what is the reasoning behind that, apart from trying to get the buyers to panic?
Mortgagemate, I don't think they offer guaranteed rental schemes. We are not talking about Bulgaria here!! I presume they are selling them on because they couldn't possibly buy all the developments that they source, in the region of one per week.
I am mainly interested in Poland, growth seemed very strong there last year and hoping for something similar this year.
I am mainly interested in Poland, growth seemed very strong there last year and hoping for something similar this year.
MortgageMate
Registered User
- Messages
- 105
Sorry, i have come to tar them all with the same brush. I'm buying in Poland this year too. But i want to source it out myself. I have some good articles and links for you. I you want them PM me and i'd be more than happy to share any info i have. What area were you considering? I'm leaning towards Poznan or Wroclaw, but haven't ruled out Krakow or Gdansk yet, as i believe bargains are to be found anywhere. Taking Polski classes too!!
Am I getting something wrong here or is this the story?
You pay to register with them and they employ hard sell techniques (such as replying to emails within 30mins) to sell you property and advertise financial services.
What is the nature of the service? Are they agents for the seller? Are they agents for the buyer? Neither or Both?
Is the service regulated in any way in the UK, Ireland or another EU country?
You pay to register with them and they employ hard sell techniques (such as replying to emails within 30mins) to sell you property and advertise financial services.
What is the nature of the service? Are they agents for the seller? Are they agents for the buyer? Neither or Both?
Is the service regulated in any way in the UK, Ireland or another EU country?
ringledman
Registered User
- Messages
- 620
Think I should have explain a bit more....
The way they work is that they get a new development coming up every say 4weeks.
Then on a first come first serve basis you register an interest in the scheme by responding to the email. You have to be quick to get high enough up the list (say within an hour).
Once registered you get sent all the information regarding the development and have about 3weeks to look through.
Then if your interested in buying a unit you reconfirm your interest.
About a week later the call people in the order in which you registered and if you are interested you pay a non refundable fee of £500 then the deposit within about a month later.
It seems to be based upon the demand for units that they get.
The way they work is that they get a new development coming up every say 4weeks.
Then on a first come first serve basis you register an interest in the scheme by responding to the email. You have to be quick to get high enough up the list (say within an hour).
Once registered you get sent all the information regarding the development and have about 3weeks to look through.
Then if your interested in buying a unit you reconfirm your interest.
About a week later the call people in the order in which you registered and if you are interested you pay a non refundable fee of £500 then the deposit within about a month later.
It seems to be based upon the demand for units that they get.
What seems to be based on demand?! This whole thing does not add up and sounds pretty ropey to me.
Also see the Moonies and the Scientologists for this kind of way of doing business.
The basis for this kind of scheme is not necessarily the outright purchase of a development, it is more a stampede of as many cattle throught the gate as possible, then brand them and move on to the next field. You can then get a discount from the developer, which you don't pass on (in theory you do, but in practice you charge a fee that wipes out the discount) You also get a commission from the developer as well, so the promoters do very well on this kind of high pressure sales technique.
The 30 minutes thing is what is called in sales parlance "getting to yes". A few people wil drop out, but not many, as once a buyer has made a decision the sale is effectively made and just has to be closed.
I would find such schemes an insult to my intelligence, but they seem to work all the time for the companies using these sales methods.
The basis for this kind of scheme is not necessarily the outright purchase of a development, it is more a stampede of as many cattle throught the gate as possible, then brand them and move on to the next field. You can then get a discount from the developer, which you don't pass on (in theory you do, but in practice you charge a fee that wipes out the discount) You also get a commission from the developer as well, so the promoters do very well on this kind of high pressure sales technique.
The 30 minutes thing is what is called in sales parlance "getting to yes". A few people wil drop out, but not many, as once a buyer has made a decision the sale is effectively made and just has to be closed.
I would find such schemes an insult to my intelligence, but they seem to work all the time for the companies using these sales methods.
DrMoriarty
Moderator
- Messages
- 5,173
just got a flier in the last couple of days of a development from property Secrets on Residence Constanta in Romania.
Promoting it as follows:
25% expected price increase in first 6 months
Estimated Return on investment over 5 years - wait for it
between 332% and 525%.
Go on to give examples of previous developments track record as follows in Romania:
Launch Date Oct 05 Aver price increase 88%
" Nov 05 " 52%
" Mar 06 " 47%
Now I know some of you posters have been harking on about Romania being a goodish investment but these returns look crazy and the way they sell is even more slick I think than those who offer the guaranteed rental return in Bulgaria.
Promoting it as follows:
25% expected price increase in first 6 months
Estimated Return on investment over 5 years - wait for it
between 332% and 525%.
Go on to give examples of previous developments track record as follows in Romania:
Launch Date Oct 05 Aver price increase 88%
" Nov 05 " 52%
" Mar 06 " 47%
Now I know some of you posters have been harking on about Romania being a goodish investment but these returns look crazy and the way they sell is even more slick I think than those who offer the guaranteed rental return in Bulgaria.
DrMoriarty
Moderator
- Messages
- 5,173
Fair enough, uroman, thanks. Just my suspicious mind.
But with sales tactics like that, I think I'd still be inclined to Jez Look...
But with sales tactics like that, I think I'd still be inclined to Jez Look...
Given that depopulation started in in Bulgaria in 1985 and in Romania in 1990 the suggested returns seem to be based on external factors rather than internal demographic driven demand.
This paper is worth a scan 'Internal Migration and Population Dynamics in Europe' (Council of Europe 2005) 80 page PDF. See Table 3 and map on page 63.
[broken link removed]
ringledman
Registered User
- Messages
- 620
No mate! no connection!
Hi Guys,
Im very interested in this thread as I work for Property Secrets. I am the Purchase Support Manager and deal with potential clients presale. I was only on this website as I had an issue that was not work related...small world.
Let me put a few people straight here.
We are a reputable company who make no commission from the developers or lawyers. We charge a finders fee for the sourcing of the deal and putting together of the contracts etc. We also offer support on the off plan development you have bought until handover.
We are in no way dodgy and work to tight regulations. Timescales are tight because that is just the business we are in. Clients have around a week to make a decision as paperwork and contracts are being drawn up to order. Our figures are not exagerated and are backed up by previous investments that can be viewed on the site.
We promote areas like Poland and Romania as that is where the most capital gains can be made. We are in no way pushy and have never employed the hard sell. To back this up, I am the only person dealing with sales on the team, the rest are research, systems and support. And there are over 30 of us.
Finally, we dont deal with Bulgaria and we dont guarentee any rental incomes. This investment is all about capital gains and is a long term investment. Rental voids do happen and openly admit that. This is long term investment and if you are happy to wait 5 years you will reap the benefits.
If anyone has any questions about PS I would be more than happy to answer them. And yes there is a deal on the site right now in Romania and yes you can expect to make a lot of money out of it. If I were paid more I would buy a couple of units myself!!
Im very interested in this thread as I work for Property Secrets. I am the Purchase Support Manager and deal with potential clients presale. I was only on this website as I had an issue that was not work related...small world.
Let me put a few people straight here.
We are a reputable company who make no commission from the developers or lawyers. We charge a finders fee for the sourcing of the deal and putting together of the contracts etc. We also offer support on the off plan development you have bought until handover.
We are in no way dodgy and work to tight regulations. Timescales are tight because that is just the business we are in. Clients have around a week to make a decision as paperwork and contracts are being drawn up to order. Our figures are not exagerated and are backed up by previous investments that can be viewed on the site.
We promote areas like Poland and Romania as that is where the most capital gains can be made. We are in no way pushy and have never employed the hard sell. To back this up, I am the only person dealing with sales on the team, the rest are research, systems and support. And there are over 30 of us.
Finally, we dont deal with Bulgaria and we dont guarentee any rental incomes. This investment is all about capital gains and is a long term investment. Rental voids do happen and openly admit that. This is long term investment and if you are happy to wait 5 years you will reap the benefits.
If anyone has any questions about PS I would be more than happy to answer them. And yes there is a deal on the site right now in Romania and yes you can expect to make a lot of money out of it. If I were paid more I would buy a couple of units myself!!
- Status