IN House Share Discussion Threads

[haff1] 29/4/2008 13:37

...its like falling into the void of a black hole....

[grassyknoll] 29/4/2008 12:51

Inside Track axes property seminars
Simon Lambert, This is Money
10 March 2008

Inside Track has axed its buy-to-let property seminars in the wake of sliding house prices and tight lending conditions for new-build flats.

Britain's biggest buy-to-let property investment company, which enticed prospective buy-to-let entrepreneurs on to £2,500-plus courses, has suspended all seminars when its current run draw to an end.

The company built a business model on claiming buy-to-let investors could make large profits with its expertise and deals with developers on mainly new-build one and two bedroom city centre flats.

But a glut of new-build flats on the market meant properties have lost value and rents failed to deliver, and banks and building societies have begun heavily scrutinising or even refusing to lend on developments.

Inside Track will axe 40 staff and suspend its seminars once already booked events are completed. Its last free workshop designed to attract people on to paid-for two-day courses is on 26 March, according to its website.

The company has three other arms which will continue to operate – Fuel mortgage brokers, agents Instant Access Properties and management/support wing AfterCare Solutions.

Tony McKay, managing director, of Inside Track said: 'Our seminar company has seen a fall in the number of people who want to invest in the property market for the first time and that is understandable in the current climate.'

Inside Track advertises heavily for potential buy-to-let investors to come on free workshops where they are then told of the benefits of paying for two-day property seminars costing around £2,500.

Here potential landlords are told of the financial benefits of building up a portfolio of properties and the discounts Inside Track can gain them. To invest they must pay a further fee of up to £10,000 and a subscription.

Its advertising material says Inside Track helps people 'crack the 'inner circle' of property investors.' It says: 'These are the people making deals – and serious money – buying and selling new houses while they're still being built.'

Properties are typically city centre flats, with many in Leeds, Manchester and Birmingham, and also overseas properties in locations including Florida and Spain. When these markets were booming and prices were rising rapidly investors found it easy to make profits. However, Inside Track has continued to promote the same methods of investing despite a slowdown in the new build market.

Inside Track claims to have helped thousands build up substantial portfolios and make money but many investors say discounts have failed to meet claims, rents have not managed to reach required levels and they have lost money.

[deanroberthunt] 29/4/2008 12:43

let' see...what would be the worst share to be holding, in the worst property downturn for over a decade or more....in the midst of a financial crisis and on the precipice of a recession in Yankville....

answers on a postcard....oops




ANSWER: In house Group

[catswhiskas] 29/4/2008 12:12

Not looking very good soon be 0.09 bid Ive got a nasty feeling this might be going under .

[sofa spud] 29/4/2008 09:13

Quote: .."Any point in selling and cutting losses ? Is this news the writing on the wall ?"

Yes - I did, a week or two ago. It's better to leave with something than nothing. Inside Track, one of the most prominent buy-to-let companies, has just gone bankrupt, apparently.

When you're stuck in a hole - keep digging!!!

[alibongo612] 29/4/2008 08:36

It may not be funny but its possibly accurate and consequently laughable.

[lordbutterstock] 29/4/2008 08:15

ali, the object of the exercise is to post something funny. See 2094 and 2095 as examples.

[alibongo612] 29/4/2008 08:13

".... then the shareholders can be assured that we will utilise all the remaining funds to continue to pay ourselves handsome salaries for as long as we possibly can "

[realcooltrader] 28/4/2008 18:29

"...then the shareholders are guaranteed we will buy more personalised numberplates."

[waynerwayner] 28/4/2008 17:51

Ok, lets play finish the sentence (in a "have I got news for you" style)...

"If the proposals are approved by shareholders at the General Meeting... then we can asure all our shareholders that MC will get a sensible haircut"

[perception] 28/4/2008 07:13

Jak

Please read what I wrote

I did not compare as you suggest. The point I was trying to make (put in very simple terms just for you) is that the board may see opportunities that they want to be in a position to take advantage of. Clear enough ?

[perception] 27/4/2008 22:15

You're all jumping to conclusions
The nominal value of each share is of little concern to us
Todays Telegraph reported that "Global private-equity giant Blackstone is raising a European property fund of up to £2.8bn in an attempt to begin picking off the most attractive players in the sector as values continue to fall"

Maybe IHGP wants to take advantage of distressed situations. The wheel will turn eventually and such a move will be considered astute.
Maybe they just want to improve gearing Maybe, Maybe etc
P

[moneypm] 27/4/2008 22:07

thanks.

Never seen a share with nominal value of 1000th of a penny. I am sure its a typo.

Can you guys give some figures please, ref share available to allot.

are there any other resolutions ?

cheers.

[catswhiskas] 27/4/2008 21:07

moneypm

just checked and there is no mistake it says 0.001p

[moneypm] 27/4/2008 19:50

michael

The EGM is not for the issue of shares. Its to lower the nominal value of the shares so that IF they want to issue shares lower than 0.25p (the current nominal value), they can. I believe they already have the authority to issue quite a few shares (see previous EGM/AGM announcements).

CW, isnt the proposed nominal value 0.1p (£0.001) vs the current 0.25p (£0.0025)


(and not 0.001p)

[michaelacca] 27/4/2008 19:43

could there be any other reasons for the EGM other than issue of shares???