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My parents have just bought a lodge in Northumberland. They have paid an extortionate amount of money for it and I am worried. They have a certain number of weeks they can use, and the rest are rented out and they get the rental income. 10% of what they have paid which works out at £30k annually. Then a 5 year buy back guarantee.
19 Answers
So your parents have invested £300k, getting £30k back a year and can get their money back after 5 years?
yes
I know that you are a bit scared about all that money and as long as the company doesn't go bust, it doesn't sound as scary as you think because they are getting a way better rate than any bank would give them. No investment is 100% secure hence the higher rate, but I don't think you should be as worried as you are.
this is getting popular with lodges
bloody caravans! u crazy???
no I think you'll find they're a bit differnet to that lol google them
caravans
I have also invested in this sort of thing. We get 5 weeks holiday in it per year. didn't pay that much but still a pretty penny. were very happy with ours
defo shld be worried cos what if they go bust
it's exactly the same as any other investment. what ever you invest in you have to trust that the company doesn't go bust mate and then wed never invest in anything!
I am so glad to have found this thread mate honestly worried sick I am my bloody parents have just done the same thing a bloody swear they prey on pensioners with savings they really do and it is exactly the same scheme and they "say" that you can cash out in 5 years which is like tempting for older people as they are getting on and they can't look at a 10 year model so 5 years is acceptable and i am so so worried advice please
Like I said to the other User, as an investor I totally get why your parents did it. Â Any investment no matter what it is, carries risk. Â Yes it is a lot of money, but it is their money to do with what they want not yours. Â If it was invested with a company in shares, would you feel better? Â Is it becasue it is a holiday lodge that it makes you worried?
Yes because they are glorified caravans
what is wrong with a caravan? Â I see some rather derogatory comments about them. Â There is nothig wrong with a caravan in my opinion!
Sure but they are no investment
This is what you are not getting. Â It is surely not the caravan they are investing in, but the return annually! Â This must surely be generated out of holidays?
Yes it is a holiday park apparently
so to play devil's advocate that is a great idea as especially with all this Brexit nonsense will people not take more holidays in the UK?
I take your point…hadn't really thought of it in that way…
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