LTSC Property Purchase Contracts

LDavid Rothmanfield on 04/08/2014 - 11:27
Last edited 04/08/2014 - 11:28

I have seen there webinars now and really like this form if property contract. The forum on the vouchers is a little misleading and doesn't deal with the investment. My solicitor has told me I get a registered caveat over the land I purchase and can on sell my LTSC at anytime.

My question is anyone who has bought a LTSC or Similar on sold them for a profit yet?

If so how did you do on sell it?

Who sold it for you?

What were the fees?

I have spoken with a couple of Melbourne agents and they have told me they do sell them but it is rare.

Any help would be grateful.

Financial

Comments

  • franksnsw33 on 04/08/2014 - 11:42
    -2

    We have bought two LTSC contracts in the Cotton Park development in Melbourne just recently. We responded to the add for a bunnings voucher on News.com. Before we bought we spoke to a number of previous purchasers who the company provided us contact details for. You should ask the company for these. We found they were happy to give us the information when we asked.

    We spoke to a couple in Sydney who are reasl-estate agents. They shared with us similar contracts they had bought and sold over the past 5 years. They had bought in WA and NSW. The properties they had bought in NSW they had on sold themselves. The properties in WA they told us they used an agent in WA. They paid standard real-estate fees.

    We also spoke to a Sydney man who had bought and sold LTSC contracts in a two of Sydney Projects. He also sold them through real estate agents.

  • mskeggs on 04/08/2014 - 12:19
    +6

    You have posted in another thread about these:
    https://www.ozbargain.com.au/node/147228

    And user franksnsw33 posted there too.
    And you both are new members.
    And the LTSC folk have been astroturfing Gumtree too.

    I posit you are not posting in good faith, and you have a relationship with the Cotton Park LTSC vendors. Is this true?

    • Gina Rinehart on 04/08/2014 - 16:26
      +2

      Also the user "Stephen Winger" is a new member posting positive things on that other thread alone.. Very suspicious if you ask me.

    • David Rothmanfield on 05/08/2014 - 05:54
      -1

      I posted here because I searched the internet for information about LTSC contracts. I have no idea who FranksNSW is.it was my first time on this site.

  • David Rothmanfield on 05/08/2014 - 05:57

    The offer for LTSC also appeared on Saturday with a JBHIGI offer on this website. So I figured there was value in these forums.

  • Super8Tab on 07/08/2014 - 20:09

    Mods should really control these "innocent spam" techniques.

  • isthisreally_me on 14/08/2014 - 22:16

    Ill restate what I posted on the other topic …
    Ill say this as a potentially large sum investor into this LTSC, I have had horrible experiences with the people working for this company. Spoke to a manager who blatantly lied to me. Attempted follow-up and didn't get a response. Id advise people to stay clear and have nothing to do with them.

  • gevidian on 15/08/2014 - 08:58

    As posted on the other topic:

    The reality about this is that they are effective selling little plots of land for a huge upfront fee (that they pocket). Development might come to that area - but it might be 20-25 years before that happens and the land sees any real appreciation in value. 10 years from now, you will need to either buy the land or give up the right to do so.

    The plots of land are valued by them in the region of $100K or so and they charge a fee of $15-20K to facilitate the LTSC. I would guess they are valuing the land at about $300 per sq m today - very rich given that you could buy a piece of land in Frankston for the same valuation today. The real value of the land is probably $50-150 per sq m and you would be paying the 10 years from now price today in the LTSC.

    So you lose 20K today and would be no better off 10 years from now as you would be buying the LTSC land at the actual market value (due to the current inflated valuation).

    Do your own research and due diligence before parting with any of your hard earned money.

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