Property “Club” in Canberra
- 7 August 2009
“Property investors be warned – there’s a spruiking company called Lisson Pty Ltd that’s presently prowling some of the hottest real estate markets.”
So starts one article about The Investors Club (http://www.tic.com.au/)
A friend, knowing I can find my way around the net, asked me to see what I could find out about The Investor Club after their father had seen advertising for this “Club” on TV here, and was interested in it, but a little suspect that it might be a scam of some sort.
First up it is a legitimate property investment/advice business.
Lisson Pty Ltd ABN 53 080 115 872. Associated company, Club Loans Pty Ltd ABN 91 096 339 150.
Technology Office Park, 8/107 Miles Platting Road, Eight Mile Plains Queensland 4113. ph (07) 3456 4200.
So how do they make their money?
To quote one commenter on a forum talking about tic, it is a “Cleverly named a club but it is actually a business. Offer spotters fees, and salemanship under the guise of help. Lot of benefits for new investors. Always buyer beware though”
To me it seems to be a group of property investors (Kevin Young et al) who figured out there is the opportunity to make a lot of money at low personal risk by advising investors how to make money while making deals with the developers they are promoting to those investors.
ASIC looked into their activities in Qld in 2003. They put out a media release and then another.
And in 2007 the VIC parliament completed an inquiry into property investment.
There’s Youtube footage of the CEO Kevin Young and a list of youtube tic footage.
All up, I’m a cynical and wary individual with almost no money to invest at the moment at any rate and so I wouldn’t touch them with a stick but feel free to make up your own mind.
Domain data: http://www.who.is/whois/tic.com.au