A friend of mine was sucked into putting a large amount of his Super into some supa dupa property investment about six months ago. He is very naive, almost financially illiterate so hence the perfect target.
He was cold called on the phone (wouldn't that be enough to put a big NO sign in the minds of most people!) and went along to some 'seminar' where he was convinced he could avail himself of the most magnificent opportunity to make huge capital gain.
Well, given it's a residential development in a satellite area outside Gladstone (for which the peak has probably passed) and there has not yet been any evidence of building activity, it isn't looking good for him.
