Saturday, July 23, 2016

Jerome Tan from bankrupt to property guru?

Got this news from social media facebook. It is about a bankrupt who found riches from property. He is Jerome Tan. He claimed that we can invest in property with zero capital....
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Ting ting ting ting......
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Alarm sounded. To me that's a scam or a potential risk (if he is suggesting taking up loan). I have no idea what is the secret.
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To learn the secret, we have to fork out $3k? Ehemm... Another alarm bell rang.
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First of all, property investment can be via REIT if you can't afford to pay for full property. REIT helps us by giving out proportional shares based on the amount we invested. When there is profit, we can claim our profit by selling off the shares. I don't see how we can get something without paying... so I am not sure what Jerome's definition of "capital" (if it isn't money).
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There is no short-cut nor "free" investment. Else it's a big scam.
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I won't part with my $3k just to learn something that I can read up and verify.
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Similarly, I have attended free seminar on share investment and the speaker sort of suggested that his method is sound because he practised "insider trading".
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That was a scam too and people fell for it by parting their thousand dollars to buy "investment kit" with DVD. What a crap!
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I would have reported him to authority if I had evidence of him showing proof of insider trading (which is illegal). Fortunately for him, I just shrugged off his talk as boastful.
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So, this entry is to remind me to stay away from Jerome Tan.