Syndicates / Property Clubs - new property group

have 2 friends who have invested in a UK property club and claim for a £5k minimum investment it can be turned into 6 figure returns in 2/3 years,sounds exellent and the group is growing fast with projects completing in a few months,Who else has seen this or know of anybody who has joined ?

The website to read about the group is this one: www.uksharebuild.com

I would be interested in comments from anyone as Im about to invest and cannot find a good reason not too as they have guarenteed me 50% on my first project.

nikki

P.n.

I have found this post on a property message board and its the same company.

Our plan is simple and achievable.... With a group of eight investors, we buy a plot of land in a prime location on which we build a one-off distinctive property.

The property will be built to sell for £375,000 because homes in this price bracket have proven to be the most reliable sector of the housing market over many years.

Each project will have a build schedule of six months. For an initial investment of £5000, you can expect a return of £8750 from the first build.

www.uksharebuild.com

My only comment is that with a system like this you basically give your money to a company that you don't know and, more to the point, have no control over. The directors have full control and you just have a small share. That said if it works then fine. Remember though that any company can have a nice website so be careful and find out a lot more before you write your cheque. I'd prefer a situation where a group of people got togeather, formed a limited company with equal shares, did a project (or some), paid the taxt etc and closed the company. Nice and easy, perfectly legal and each 'partner' has equal control of the company and its (your) money.