This week, I heard a particular gentleman, 67 years of age, was told by Pheonix Overseas Property in Kent, he could buy a property with a low deposit and flip it *sell it, before completion and double or triple his investment.

Being 67 years of age, he subsequently put down his money (took his chances), and secured his purchase, and then found out he could not flip his investment. This happens very very very much in Costa Del Sol.
The problem, and I am aware of alot of overseas buyers are told the same lie, basically invest now and you will sell in 2 years, selling just before completion. And how many people are hoodwinked into doing this , thousands.

Buy and Sell before completion.

Agent 1 sells it, get his commission, Developer sells unit. Clients sits with noose round neck, until they sell. Most can not.

The end of the story is the Agents got paid, the Developer was actually quite good, they offered him half the deposit back, the other half went to the Agents *Pheonix Overseas property in Kent and Remax in Spain, and the client lost 17.000 sterling. Not recoverable for a man of 67 with modest living.

Where is the decency in taking a retirees money, the client lost 17.000 Sterling, *25.000 euros, 2 years of their life, the developer was fair, Pheonix Overseas from Kent, shame on you. Give back your commission to the client, whom you missold, told a lie, told he could flip it, easily and left him in the ****.

Remax biggest brand in Real Estate.

The bubble is bursting I hope people can see through the bull and start to see the real picture. No buy to let in Spain,(yields too low) Buy to Flip with extreme caution. ie. you have a good exit strategy.

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