Singing Pig

Has anyone had any dealings with Ready 2 Invest (R2I)? If so are they a reputable company?

A friend of mine is looking at a development in Brasil through them but , obviously, before he pays any money wants to be sure they are OK.

 

Any help/advise would be much appreciated. 

Yogi
 

A simple search on here would help your "friend". There is a very long thread in the 'Discussion' forum, and on the board at the "Streetwise" site.

Just wanted to bring this to the top incase any other newbies were researching R2i. Having seen R2i's sucesses on their website I'd like to counteract with the following:

Various property investment funds - problems to say the least

Sandalet, Turkey - 12 months delayed and developer in financial difficulties 

Atlas, Marrakesh - cancelled

Olive Grove, Marrakesh - cancelled

Gardens of Fedeal, Marrakesh - cancelled, refunds of money taking 3+ months

Gardens of Fedela, Mirflet - cancelled

Sunny Beach Bulgaria - rental yield not as promised

Elite Park, Turkey - delayed

Silver Coast, Portugal - revalued on completion as higher than price paid - Gosh!! 

Mr and Mrs Crossicks villa, Marrakesh - revalued at £ms higher than paid - good for them!

Feel free to add!

 

I would like to add:

Obzor Bulgaria property investment fund - all of investors money (1/3 million Euros) "borrowed" by R2i 2 years ago and not repaid.

 

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http://www.singingpig.co.uk/forums/1/492958/ShowThread.aspx

Just been contacted by another R2i investor with bankrupcy problems on his development in Istanbul - Dome Park. So it goes on . . .

SunnyS:

Various property investment funds - problems to say the least

Sandalet, Turkey - 12 months delayed and developer in financial difficulties 

Atlas, Marrakesh - cancelled

Olive Grove, Marrakesh - cancelled

Gardens of Fedeal, Marrakesh - cancelled, refunds of money taking 3+ months

Gardens of Fedela, Mirflet - cancelled

Sunny Beach Bulgaria - rental yield not as promised

Elite Park, Turkey - delayed

Silver Coast, Portugal - revalued on completion as higher than price paid - Gosh!! 

Mr and Mrs Crossicks villa, Marrakesh - revalued at £ms higher than paid - good for them!

To chip in my 2p:

 

Manchester city centre - cancelled, thank God. Refund took ages though.

Central Park Prague, 3 years late, now I can get 100% mortgage on valuation that still falls 10% short of purchase price, so I'm topping up 100% mortgage after 3 years of "growth", hmmmm. So either there has been no growth (don't think so), or the bank valuation is more conservative than Maggie Thatcher, or I got ripped off. Tried speaking with R2I about it, they're far too busy selling stuff in Brazil to worry about all the mess that needs clearing up from all that time ago.

My advice for what it's worth is to read up massively on your planned investment location, once you have decided it's a good place to explore buy a plane ticket there and source your own rental accommodation for your stay through one of the holiday rentals websites to give you an idea of the rental market from a customer point of view. Then go and visit the developments that R2I and similar companies are punting out, see just how good the developments really are and what sort of deal you can get from the developer direct. Be wary registering your details with any agents because once they take you somewhere you are their client and the developer has to pay them a commission. If R2I can get you a better price and you are 110% sure the development is a good investment then fair enough. I reckon you can find much better deals if you spend a bit of time on your own though and get to know your investment location.