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Monday, May 4, 2009

Landbank - Can or Scam?

Went for this 'survey' or so this telemarketer claimed it was a survey last weekend. The pitch was if I go, I will get $XX worth of shopping vouchers, and the $$$ goes up with each additional family members that I bring along. Of course I knew there was no such thing as a free lunch.

It was not a time share presentation, a MLM talk or a money making talk but a landbank sale pitch. The talk didn't attract me. I seen enough to know it was going to be one of those where they will hardsell and won't let you go back until you sign something but the vouchers were too tempting and I figured what the heck it was going to be easy money to make.

First, did some research on the web and well there was no bad feedback on this particular company doing the pitch although there was lot of bad press about landbank scam in UK.
 M came along so we got $80 Carrefour voucher. Well unfortunately for us, the kids refused to follow otherwise we will have got $100 and if we go in during the 'early bird' timing or 'closing' time period, we would have got another $20.00. 

The whole experience didn't turned out too bad either. Of course, there was no survey just a introduction to landbanking in UK and the potential returns. A young lady did the presentation. Not the slicky smooth type but a very down to earth lady. And there was no mention of how much it will cost us to invest! To satisfy my own curiosity, I had to asked and even then she got an angmoh to come and tell us and it was really like they were not interested in doing any sale. The guy simply said $XXX if we invest today and $XXXX otherwise and said he doesn't need a decision there and then and walked off, all within 5 minutes. 

M is quite interested in it considering the current returns on FD and the state of the stock market. I am not too sure about this especially reading all the bad press about this type of investment. So it is still status quo while I do more resarch and get more opinions. Anybody out there can contribute any feedbacks?

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