Hi All,
You may have come across it already. But, I stumbled upon a junk mail flyer at my office for a website of “Land Fanatics!†And it grabbed my attention. Has anybody seen this site, read his (Jaycee McMeeken’s ) book….subscribed to his website newsletter….or joined in this fanatical property venture?
Have a scroll though this website and form your opinions. Love to hear your feedback. It seems they ‘average’ 62% gross return their investments of large tracks of Australian land (by giving Jaycee $50K for ‘shares’ in his company).
Visit http://www.landfanatics.com.au
To a conservative, it seems a bizarre property venture concept, but he obviously has his followers (somewhere). Since Iam not a qualified property expert (just a property investor) I am not knocking them, nor endorsing them (but I love a robust debate!).
I would interested to hear the ‘forumites’ views and opinions!
(PS: Would also love to hear Steve’s or David’s views on these ‘Fanatics’)
Cheers
HutchSounds too risky. Who would give someone $50,000 on the promise of a 62% return? I’ve known of schemes in the past and sorry to say I do smell a rat on this one.
By the way. Just to clarify.
I think this Land Fanatics venture appears to be outright madness…I’m more interesed in anyone out there that has done/doing it, or has enquired about it.
(I guessing by the lack of replies in the last 48 hours, that most forumites either can be bothered reading the website or just think it is all a big load of dross)
Hi Hutch,
I just had a quick read of the website, and it doesn’t seem such a bad idea to me! If i had loads of cash one of the things I would be doing would be looking for opportunities to purchase large tracts of land at a wholesale price and then holding it or developing it breaking it up and selling it retail. To me it makes sense if you can come up with a way to get the cash and give you the buying power you need, then you are well on your way…..
My main concerns would be what the overall return being achieved is – as I guess some properties have been turned over for a good profit, but I presume others will be buy and hold, perhaps for some time and they will be producing little or no yield in the mean time…
Craig.
I agree with your last point Craig.
My concern was/is the yield on “offer’, using creative accounting, as opposed as the realised yield back into the “Land Fanatics†pockets. While it “sounds†like a good idea to own multiple tracks of suburban/rural land stocks. The question should be; are there that many Aussies out there that willing to risk it all, in someone else’s hands, simply because of a website full of testimonials?(Let us not forget Henry Kaye started off with grand sales testimonials and strong word of mouth)[biggrin]
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