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Property Spruikers Aim To Steal Your Money

Property Spruikers Aim To Steal Your Money

Introducing my pet peeve: property spruikers. I can’t stand them.

Lately, I’ve had a number of ads pop up in my Facebook page advising me to get in touch with companies that are all telling me the same thing – that I need to be taking advantage of the new government initiative to pay off my mortgage sooner.

All these companies are ever talking about is negatively gearing property.

They want to get you into their organisation so that they’ve got control of your money.

It’s obviously not something that you should do. I would hate to think any of my clients or anybody that I know, really, was involved in something like this.

It’s been great to see that the ACCC is taking this sort of thing very seriously.

In mid-November, they fined a guy called Rick Otton for $18 million. It was all due to the underhanded tactics that he was using in relation to property investors and getting money off people.

$18 million is one of the highest fines the ACCC’s ever issued.

It’s wonderful to see that they’re taking this seriously because these people really need to be stopped.

If you’re ever unsure about anything in relation to investing in property, get in touch with myself or one of the other property tax specialists at Paris Financial, and we’ll be very happy to help you out.

 

Bec Mackie, Partner, Paris Financial