A Fairly-Priced, Good Value Exercise In Wealth Creation – Like Hell!

Posted on April 30, 2007 by | 0 Comments

Tim O'Dwyer M.B., LL.Bby Tim O’Dwyer M.A., LL.B Queensland Solicitor & Consumer Advocate watchdog@argonautlegal.com.au

Anthony and Kirsti McCurry of Grovedale, Victoria began their misadventure in Queensland property investment after responding to a attention-grabbing advertisement on Melbourne radio. They soon attended a seminar organised by a St. Kilda Road company, describing itself as “the wealth creation specialists”. The pitch before, during and long after the presentation was, naturally enough, “wealth creation security through property investment”. Inventment opportunity, or free flight to misery? Before long Anthony & Kirsti had been financially advised by a “senior consultant” and were catching a Friday flight to the Gold Coast. The next day, after a couple of inspections, they decided to buy a newly developed and tenanted townhouse at a “Mews” in Coomera (on the Gold Coast, but kilometres from the beach).

Funnily enough, the seller’s agent and seller’s solicitors had the same Gold Coast address.

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