Land Banking

I went to the SMART Investment & Property Expo over the weekend and came across many different companies selling properties, land and alternatives form of investing.

One of it which attracted me was profitable plots. The sales representative told me that they will be obtaining planning permission for the land they are selling within the next 2 years and I can be looking at a hefty return of 300+%. Sounds like a pretty good deal yeah?

I was quite convinced and went back to share with my parents and asked if they were interested. My Dad being the sceptic that he was told me to hold back. I'm glad he did, and that I did not enter this implusively.

I did a search on the internet and found that Profitable Plots has some rather dubious history, and it appears that they have many dissatisfied customers. In addition, I've also found that the plot of land they are selling (Hounslow, London) is a conservation green-belt and has a next to nil probability of getting planning permission in any near future. If anyone cames across this company, or any other company for that matter, pls do your due diligence and check up the facts before participating. You could save yourself alot of pain!