Is land-banking a sound investment? Or Scam?

[YoruVoly]

For those who dunno... land-banking is about "investing" in plots of overseas raw lands... where u r promised high returns when the land is sold and developed...

My BIL bought some plot of Canadian lands... through "The Walton International Group" a couple of years back... was promised returns in 5 years time... but with 11.75% investment loan... after 9 years till date... he is still paying... DUH...

:err::err::err::err::err:

Dunno if he should continue paying this monthly loan... 5 years... 10 years?
Or cut his loss and terminate this... and lose all the $$$ invested for the past 9 years? About $40K.

Anyone has experience with this?

Some websites say it's a scam... some say it's not...
To me... it's just like MLM... either u're a firm believer or you're not...
if it's so easy to get rich... all no need to work liaooo

 

[olivi1980]

I'm sorry to hear about your situation. It sounds like you are really struggling with what to do. It's a tough decision to make, and I don't envy you having to make it. I don't have any personal experience with land banking, but I have done a bit of research on it. From what I can tell, it is a very risky investment, and it is not uncommon for people to lose a lot of money. It sounds like you have already lost a significant amount of money, and it doesn't seem like there is any guarantee that you will ever see a return on your investment. It might be best to cut your losses and terminate the investment. It's a difficult decision, but it seems like it would be the best thing to do in your situation. Also, you could consult an expert from https://stephenswmg.com on this situation.