The news that Inside Track has gone bust has rocked certain
parts of the property investing community. Yet, other
investors have nodded their heads knowingly, with the
knowledge that this announcement was destined to happen.
For many years the Inside Track property company had been
the most vocal of the property education companies. Its
advertisements and free seminars led even some of the most
conservative people, to part with thousands of pounds of
their hard earned money. These people where desperate to
grab the dream of becoming a property millionaire.
A few years ago they where riding high with millions of
pounds in profits. They blame their rapid downfall on the
credit crunch and how it has adversely affected their
position to get the types of mortgages that make buying
properties financially viable.
The truth is that inside track where always overexposed and
vulnerable to any downturn in the property market.
One of the problems with Inside Track has always been that
their philosophy never seriously took into account
potential changes in the property market. They emerged
onto the scene at a time when property prices where
increasing dramatically.
At the time, their approach of buying as many off plan
properties as you can, with a small deposit for each, then
waiting for the expected price rises at completion, then
pulling out huge sums of money to re-invest or do what ever
you liked with, worked well. However, the problem was
always that their property investing strategy was
inherently built on a notion that the price of the off plan
properties were ALWAYS going to be significantly higher at
completion than they were when the deposit was put down on
the properties, several months earlier.
The other problem they began to face is that as time went
by, the increasing amount of investment companies that
popped up promising similar things to them, meant that off
plan developments where becoming over saturated with
investors. As more and more investors competed with each
other for less and less buyers and tenants this brought the
prices of resell and rentals for the properties right down,
Inside Track realised early on that people where prepared
to pay thousands of pounds to them, for the promise of
becoming property millionaires. The beauty for Inside
Track was that they could convince people to part with
large amounts of money, without actually having to give
them any cast iron promises as to the returns they will
make.
It was simple for inside track to blame the property
markets ups and downs, or the financial market, if
investments didn't go according to plan.
While Inside Track and it's founder Jim Moore, made
millions of pounds, ordinary people where losing their life
savings, their homes, marriages and much more because of
the flawed nature of the way inside track worked and
invested.
Inside Track would have realised a long time ago that their
way of investing wasn't as profitable for investors as it
was in their hay day. The queue of serious complaints and
lawsuits being filed against them, continued to grow at an
alarming rate. Then BANG! The credit crunch hits and very
quickly it becomes all too apparent that the wisest thing
for them to do financially was to fold now, before things
got even worse.
Experienced investors have for years, warned against the
perils of investing with Inside Track. Yet, because of
their huge media presence and the slick sales talk at their
seminars, average people on the street, were being seduced
daily, into trusting that just by parting with a few
thousand pounds today, they can be the next property
millionaires of tomorrow.
Investing in property can be one of the most tangible ways;
ordinary people can amass great wealth. However, it can
also be the easiest way to make yourself bankrupt very
quickly.
The education people paid to get from Inside Track is
available for free on the Internet. You don't need to pay
thousands of pounds to learn how to make money in property;
you just need to make a concerted effort to do whatever it
takes to get the right property education, no matter what
your budget.
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Do you want to learn more about making money from property?
Then visit the http://www.investment-property-guru.com
website for all the hottest investment property news, tips
and advice.
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