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Scam or not? A thread. with so many investment opportunities out there, how can we establish if I should invest my money or not?
Here are some pointers.
Here are some pointers.
Stealing from other PF people, I recommend avoiding if:
1. Interest is calculated daily/monthly
2. Not being registered with the FSCA
3. Your money is guaranteed
4. Expected interest is above 13% p.a.
5. You have to do nothing and no fees are payable
6. You have a sign-up bonus
1. Interest is calculated daily/monthly
2. Not being registered with the FSCA
3. Your money is guaranteed
4. Expected interest is above 13% p.a.
5. You have to do nothing and no fees are payable
6. You have a sign-up bonus
But on a more complex level, are things like property, small business and startups a scam? Not necessarily.
But you have to show due diligence as many industries are unregulated.
If you have to hand over your cash and they do 'magic':
But you have to show due diligence as many industries are unregulated.
If you have to hand over your cash and they do 'magic':
With Property:
1. Make sure you use a registered lawyer
2. Don't believe the agent's estimates for rent
3. Don't buy at market-related value
4. Don't pay estate agents your deposit
5. For out of hand properties, I use my lawyers.
1. Make sure you use a registered lawyer
2. Don't believe the agent's estimates for rent
3. Don't buy at market-related value
4. Don't pay estate agents your deposit
5. For out of hand properties, I use my lawyers.
If you are asked to invest (equity for work, etc.) in a startup or small business, consider the following:
1. Ask for a 10 year business plan
2. Ask for a 5 year marketing plan
3. Confirm a schedule of when you will see a return on your investment - and the risks involved
1. Ask for a 10 year business plan
2. Ask for a 5 year marketing plan
3. Confirm a schedule of when you will see a return on your investment - and the risks involved
Know that all investments are risky.
You need to know how the investment works.
> How the startup profit model works
> How the property will make money
> How the scheme makes its cash: 'trading' is not an answer. How is it outperforming the market??
You need to know how the investment works.
> How the startup profit model works
> How the property will make money
> How the scheme makes its cash: 'trading' is not an answer. How is it outperforming the market??
concerning Crypto and Bitcoin - be careful!!
1. Use reputable exchanges and wallets only
2. Don't hand over your cash/crypto to another company to handle, unless they are registered with said bodies
3. Don't day trade unless you know what you're doing.
4. Get proper advice!
1. Use reputable exchanges and wallets only
2. Don't hand over your cash/crypto to another company to handle, unless they are registered with said bodies
3. Don't day trade unless you know what you're doing.
4. Get proper advice!
How do you know that the company is reputable?
1. Are they registered with the needed authorities? FSCA, real estate board, Nyaope dealers association
2. Who is involved - do they have a track record?
3. Don't just trust friends, check out the media, Linkedin and reputation.
1. Are they registered with the needed authorities? FSCA, real estate board, Nyaope dealers association
2. Who is involved - do they have a track record?
3. Don't just trust friends, check out the media, Linkedin and reputation.
And if you have to recruit others to get more cash - avoid it like nyatsies - you will get diseases!
