Singing Pig

'Inside Track' one of the more prominent property investment clubs has gone into administration today.

What are your thoughts ?

Anybody got any money tied up with them ?

 

http://www.telegraph.co.uk/money/main.jhtml?view=DETAILS&grid=&xml=/money/2008/04/30/cntrack130.xml

Looks like they got CREDIT CRUNCHED!

The first of many in months and years to come.

Inside Track have specialised in ripping off people wanting to get onto the 'property boom' and playing on their greed or lack of knowledge, have ripped off millions of ££'s of a lot of hard working people. Many people have posted on this forum about their experience with IT.

Selling overpriced newbuild flats in city centres flooded with new builds knowing they are taking people for a ride is just not right.

Good riddance to a very corrupt and criminal organisation. Unfortunatly the Directors have gone off to Spain with their ill gotten gains and wont be affected.

 

 

Another example of fools (or gullable) and their money I am afraid...

 

Sam - if you took the time to read some of the IT threads on here - you would realise that this company has cheated many thousands of very intelligent people out of money  - their marketing was soooo clever and sophisticated - only the very well-researched and especially assiduous investors would not get sucked into their hype  --   there but for the grace of god go all of us  -    a lot of folks are having to sell their own homes to pay IT for these outrageous deals  -   calling them "gullable fools" does not help anyone .........

clottie:

Sam - if you took the time to read some of the IT threads on here - you would realise that this company has cheated many thousands of very intelligent people out of money  - their marketing was soooo clever and sophisticated - only the very well-researched and especially assiduous investors would not get sucked into their hype  --   there but for the grace of god go all of us  -    a lot of folks are having to sell their own homes to pay IT for these outrageous deals  -   calling them "gullable fools" does not help anyone .........

 

So clever and sophisticated I saw right through it from just reading their brochures and looking at their website without ever owning a single BTL. Sorry, gullible is the only word for it. That fat idiot Prescott wanted flats everywhere which again was another warning sign that it  was a bad idea to buy anything he had even the slightest influence in. Most of their literature avoided the issue of 'over supply' and claimed that they thought it wasn't going to happen.

If it seems too good to be true then it usually is. First rule of surviving life without being done over by crooks! 

Gullible fools, clever, sophisticated, intelligent; what does it matter? IT was an organization that should never have happened nor allowed to run for so long. Good riddance is the only worthwhile sentiment.

Personally, I really don’t think there’s absolutely any need to rejoice in the demise of the people that got sucked in.

Let’s face it, there will always be those people who couldn’t join the BTL bandwagon for a number of reasons (mostly because they didn’t have, or couldn’t find two pennies to rub together). You’ll find these are the ones who’ll rejoice at the state of the current market because their poverty mentality is well satisfied, albeit temporarily.

Such ignorance will always show them up because whatever is happening right now, however long it takes – the only way is UP! Yes, there will be casualties, but the real casualties are the ones shouting the loudest.

Oh, and the word is actually gullible, not ‘gullable’!