Larionovo

minotour

Hi,

Has anybody had any dealings with Larionovo, specifically around Dubai and their property offerings. Im considering talking to them and as usual any real world experience from you guys would be helpful.

Cheers
Col

jdivision

minotour wrote:

Hi,

Has anybody had any dealings with Larionovo, specifically around Dubai and their property offerings. Im considering talking to them and as usual any real world experience from you guys would be helpful.

Cheers
Col

No experience of Larionovo but be very careful about Dubai. What will be your rental market? The locals already own property, the imported workforce won't be able to afford the rent and tourists will want to stay in the many, many hotels being built there already.

pastabrown

larionovo specialise in sports city but i find places like sdp.ie more geared for the cost sensitive punter,
to surmise €70,000 for studio apartment, current rent is on one site a staggering 12,000 per annum, do the mths even if no further increases,

Victor

pastabrown wrote:

larionovo specialise in sports city but i find places like sdp.ie more geared for the cost sensitive punter,
to surmise €70,000 for studio apartment, current rent is on one site a staggering 12,000 per annum, do the mths even if no further increases,

Yeah, the numbers don't stack up.

Sponge Bob

guaranteed rental for 2 years I'll wager and then it drops to €0 like all these guaranteed rental scams

pastabrown

i think you mis understand me, the property is €70,000 for studio and it will built in 2008 but similar studios are now being rented for €12,000, lets assume no increase, it would be paid off in 4 years and the property would have gone up several % if not doubled, stay clear of gauranteed rental, why tye your self to 8% and the vendor keeps the rest.

connundrum

pastabrown wrote:

i think you mis understand me, the property is €70,000 for studio and it will be built in 2008 but similar studios are now being rented for €12,000, lets assume no increase, it would be paid off in 4 years and the property would have gone up several % if not doubled, stay clear of gauranteed rental, why tye your self to 8% and the vendor keeps the rest.

All of the underlined are presumptions. Never make presumptions with international property.

On Topic, having met the two directors through work, I'll have to admit that these guys are very nice and are very smart. I was very interested in their stuff in Portugal a while back as it looked quality.

I would have bought in Dubai about 16 months ago before it became mainstream, not now. And buy to rent seems like a school boy error in the making to me.

brickie No 1

i have bought there an through them an dont have any problems, its a good investment as far as i can see.

A Random Walk

Sorry, 12k rent on a 70k investment just does not make sense. If it was so easy to make money why would they be offering this wonderful opportunity to you? I'd recheck your figures.

Who rents all these apartments in Dubai anyway? The construction workers can't afford them and any tourists I know have stayed in hotels.

jdivision

The construction workers are paid about 40c an hour. You'd need to get a corporate let and with thousands of units being built there's not guarantee you'll get it. Prices have doubled there in abut three years, that's unsustainable and is being driven by overseas demand. I'd be very careful if I were you.

connundrum

jdivision wrote: »

Prices have doubled there in abut three years, that's unsustainable and is being driven by overseas demand. I'd be very careful if I were you.

You mean new prices? As with every flash in the pan destination - its nigh on impossible to sell 2nd hand units when there is so much new product on the market.

U2-3

Any comments about the Larionovo , Portugal apartments, studio from €120,000. Good investment?

Anyone any experience with them or the area, country etc.?

Palmela Village Townhouse Apartments come with an excellent 5% net Rental Guarantee, plus up to 5 weeks personal usage for owners per year.

• Earn from €7,350 to €8,750 p.a. guaranteed!
• PLUS 2 weeks FREE peak-time usage every year!
• AND a further 3 weeks FREE off-peak usage!

Victor

Sounds like a great deal, but you know what they say about great deals, don't you.

The_Conductor

I tend to stay clear of any special bargains that guarantee anything. They tend to be either a con, or else they have the guaranteed return factored into the purchase price.

S.

abugerae

pastabrown wrote: »

i think you mis understand me, the property is €70,000 for studio and it will built in 2008 but similar studios are now being rented for €12,000, lets assume no increase, it would be paid off in 4 years and the property would have gone up several % if not doubled, stay clear of gauranteed rental, why tye your self to 8% and the vendor keeps the rest.

I have had dealings with Larionovo, and my advise is STAY AWAY!!There has been nobody available to call me back about an investment for 2 weeks now! something is not adding up!! Watch this space!

abugerae

U2-3 wrote: »

Any comments about the Larionovo , Portugal apartments, studio from €120,000. Good investment?

Anyone any experience with them or the area, country etc.?

Palmela Village Townhouse Apartments come with an excellent 5% net Rental Guarantee, plus up to 5 weeks personal usage for owners per year.

• Earn from €7,350 to €8,750 p.a. guaranteed!
• PLUS 2 weeks FREE peak-time usage every year!
• AND a further 3 weeks FREE off-peak usage

You can have mine if you want!! I will sell for less than I got it. I bought one and asked Larionovo about selling on the contract now. The guy I bought it from is "on holiday" "on a course" "back next week" or "back in September" according to who you speak to. The latest lady I spoke to at Larionovo told me "its not her problem"

AARRRGH

I read that you never own the property in Dubai. It's just a lease from the King or something like that.

Only an idiot would buy an overpriced apartment in the middle of a desert, surrounded by hundreds of thousands of other overpriced apartments, surrounded by millions of people with no money.

Climate Expert

dublindude wrote: »

I read that you never own the property in Dubai. It's just a lease from the King or something like that.

Only an idiot would buy an overpriced apartment in the middle of a desert, surrounded by hundreds of thousands of other overpriced apartments, surrounded by millions of people with no money.

But what about the guaranteed rental income!!!!

abugerae

Dont touch Larionovo. I am speaking from experience. There is somthing not adding up with them at the moment!

SimonL

Hi all,

Just wondering if anyone has, or knows of someone who has, property for rent in Dubai, preferably Dubai Marina. Myself and a couple of friends are moving to Dubai in late August and we are aware that rent is extremely expensive over there, and that you have to pay for upto 12 months in advance.:eek:

We are looking into the possibility of renting directly off someone here in Ireland who owns property out there, thus cutting out the middle man and saving us all some money.:rolleyes:

We look forward to hearing your comments.

Regards,
Simon

oddy

Any one else got any feedback on this crowd

lalique

Hi

I was wondering if anyone that had purchased property in India through larionovo is having trouble getting their money back since they withdrew from the development. We requested our refund back in March and are still getting fobbed off with excuses as to why we are still waiting, communication is terrible.

Is there anyone else in the same position or is it just us

I would never buy another investment property with them as the service is appalling.

fjord

Hi Lalique,
We too are in the same boat as you. We are feeling so frustrated with Larionovo/ Profile for the past number of months as they have been making so many promises of a refund and nothing ever comes through. Like you we would never use their services again nor recommend them to anyone we know.
The last promise we were made was that we would be in the first batch of people to get their money back and that we would receive it in the first week of October - still no sign of it and the man who is dealing with this area who is based in Dubai has conveniently gone on holidays until 21st October. I tried to contact the woman who is lookign after this while he is away - who seems to be based in their offices in Spain and she has neither responded to emails or to phonecalls. We have threatened to expose them to the national papers which were promoting this venture last year - the Independent, and this will be our next step.
Please let me know how you are getting on with this.

fjord

I would echo what Abugerae is saying about the Larionovov or Profiel as they are now known as group. Do not touch them - they are never available when soemthign goes wrong - and believe me there are some things going seriously wrong with their Indian development right now. We cannot get a refund that was promised to us almost six months ago and we get excuses after excuses - the latest one being - the Indian side of things - Sigrun have cash flow problems which is why they are not sending all of the money they owe back to the Irish investors!!! Our money and they are using it because they have cashflow problems.
Do not go near Larionovo - they will not support you if things go wrong

lalique

Hi

Can you PM me with a contact number, have some more info that I was given today!!! from Deborah Mackay the woman who seems to have taken this project over.

ukdavros

Hi Guys
So is anybody else waiting for thier money.
Mught be helpful to find more people and decide what we are going to do.
We are looking to go to the newspapers but it may be better to take Legal advice first.
Can anybody suggest anything or anybody that could help.

Regards
Mark

fjord

In response to Climate Expert if you were in the position that we are in - and I only made contact with Lalique yesterday for your information on this forum - and that is a person who has been owed over 15 thousand for the last six months with broken promises from Larionovo - then I think you too would be looking for a solution and looking for other people who might be in the same position as you are.
My husband and I have made dozenz of calls and sent an equal number of emails to the person who is supposed to be looking after this venture in Larionovo. Promises have been made time and again, both verbally and in writing related to a time we would see our money being returned to us.
We have threatened to go to the Independent newspaper in particular as they were the ones who promoted the Investment a year and a half ago. Many of the staff in Larionovov have responded to this by saying "we don't blame you" and "it's understandable" which is no consolation at all. All we want is to try to get our money back from them as we need it urgently for something else. We have been patient and understanding but enough is enough. We need to be more proactive now.
So for you who is completely outside of the situation with no understanding of what we have all been through to come to this forum and allege that we might be some kind of rival company is unbelieveable - go away and bother someone else

The_Conductor

Behave guys.
If you disagree with what someone has posted, refute the post, do not attack the poster.

Regards,

SMcCarrick

ukdavros

So Discounting what the weather man has to say.

If anybody else is in the same situation please PM either myself or my Fiancee Lalique as we are now planning on taking this further. A few people already have.
We have been more than Patient with Larionovo But enough is enough

fjord

As I'm new to this Forum I am trying to figure out why people who have no experience of this issue are dipping in and out and making comments - can anyone explain this to me? It doesn't seem to make any sense to me.
Thanks

ukdavros

Fjord

I wouldnt really pay much attention to the weatherman. These kind of people dont really have anything else to do, bit sad really.
Should thank him really I suppose as he keeps bumping the post up

We have each others number now so we can keep in touch with each other.
Just deal with Karen(Lalique) either by PM or phone
We are now looking at getting our solicitor to take legal action against Larionovo. We have spoken to one guy who did get his money back.

Im going to be stuck in Denmark until the end of the week, but Karen is taking care of things in Ireland.

ukdavros

fjord wrote: »

As I'm new to this Forum I am trying to figure out why people who have no experience of this issue are dipping in and out and making comments - can anyone explain this to me? It doesn't seem to make any sense to me.
Thanks

Because they havnt anything better to do, you just have to ignore him. He is probably some sad old loner who is trying to get a reaction out of you, like a type of schoolboy bully. You get it a lot on Forums like this.

The problem is if you respond your likely to get banned or something, so just ingnore it. Unfortunately I like to have a play with these kind now and again, its the only reason I steep to his level. Have a bit of time on my hands myself at the moment. Working on a project in Denmark and its a bit quite at the moment. At least I still get paid as a consultant, so not all bad.

The_Conductor

Guys- deal in factual information- or if you have a specific query- ask it. Do not attack other posters, or query their motivation in posting. If you're unhappy with what someone has to say- use the "report post" function, and a moderator will have a look at it.

Regards,

SMcCarrick

ukdavros

Sorry SMcCarrick

It just winds me up

The_Conductor

ukdavros wrote: »

Sorry SMcCarrick

It just winds me up

I know.
But if everyone decides to have a free for all, the whole place will fall apart. The report post function makes life a little easier for me (and the other mods) as we're not sitting at PCs watching every little thing the whole time- but we get an e-mail alerting us to reported posts- so we can objectively get to the bottom of things a lot more efficiently than otherwise might be the case.

Property is a particularly emotive subject, and always has been- so we need to keep some semblence of civilisation around here.

Feargus Niall

Hi Lalique,
I am in the same position. Have had extensive dealings with Deborah McKay in Spain and all to no avail. Calls are never returned and, when we do talk, e-mails confirming what was agreed upon never arrive. Bought the apt in March/April last year and have completely lost faith in anything told to me. Have called into their offices in Dublin to exert some kind of pressure last week and was in contact with the "Liveline" production team today. I think legal action might be the best bet at this stage. Could you PM with your details? Thanks

ukdavros

Hi Feargus
We might actually be getting somewhere.
I will also send you a PM of our details, you can then give Karen a call.
I am stuck in Denmark so karen is sorting a lot of it out.

Regards
Mark

lalique

Just an update on this topic.

After being told for 2 weeks now that Larionovo have received some money from the delveloper in this issue, it now transpires that they didn't. This really drives that point home that the management of Larionovo don't care about what is going on and about the Irish people getting their money back. How can "directors of the Company" say yes we have it in our account and will be sending out refunds next week, only to turn round and say "Oh we haven't got it". Also, to all the other people who are thinking that they will get their money by the end of November, I would give yourself a very hard reality check because I don't think you will. It has also transpired that the company paid "Certain people" back using their own money!

The only hope now is to try and form into a "group" rather than individuals to take this company on and get our money back.

fjord

Having waited since receiving a letter in July from Larionovo telling us that we would have our money refunded shortly along with a 12% return, we too are still waiting. Promise after promise from one of the Directors of the Company this month telling us - and we have it in writing - that we would have our money at the very, very latest by Sunday or Monday last as the money had landed in their Irish account last Thursday. I was promised that he would email me the transfer over the weekend and when this did not arrive and there was no response to the four emails which I sent to him and the other Director yesterday my heart began to sink.
We were told that the Company were fully bonded when we first put our deposit down over a year and a half ago and now the Director cannot even tell me with any conviction that since they merged with Profile this year if this is still the case.

I would strongly urge anyone in the same situation to contact one of us as there is a group of us now formed who are all in the same desperate situation - just looking for a way to get our money back which is what we have been assured will happen. I am at the point where I believe nothing more that Larionovo are telling us and myself and my husband just want to untangle ourselves from this sorry mess with Larionovo

ukdavros

Well Another Update
Karen Was On RTE today and so was Feargus .
They were swamped with calls from people in the same situation.
The Director From Larionovo got quite a talking to.
This is just the start, we are now hoping to make contact with some of the people that phoned in.
On to the next level

fjord

Yes,
I just heard the end of the programme and there were a lot of people who are in the same situation with this Company. Raymond is saying we will all get our money at the end of November, but how can we possibly believe anything they say at this stage. Joe asked him soem very direct questions which he did nto exactly answer. There was an interesting man called Jack on who was promised by Andrew exactly what we were last week - it would be good if he linked into this forum. There were also lots of others who have invested in other Countries with Larionovo and who are just as angry as we are about India

ukdavros

For anybody interested
They had such a huge response they are carrying on with the subject on Todays show

Bluetonic

Yesterdays Discussion

lalique

Hi

Thank you for adding the link to yesterdays program - much appreciated

fjord

Yes Bluetonic, thankyou for that. I missed the full discussion yesterday, so listened to it just now.

lalique

Hi

Fjord

Are you on the program today

fjord

I was to be but they mustn't have had the time to continue the piece as they were busy talking about Tommy Tiernan!

baro

fjord wrote: »

I was to be but they mustn't have had the time to continue the piece as they were busy talking about Tommy Tiernan!

Are you going to be featured on LiveLine again

fjord

Not sure Baro. Have you invested in the India project with Larionovo too?

baro

No, but I know some of the individuals involved and would be very wary of them.Think the changing of the company name to Profile is very suspicious.I think you need some very good legal advice.

Nadnerd2

Hi,
I have been reading all these threads about Larionovo. This company recently sold some investment buy to lets in St Hilliare, France but the completion date has been moved from Summer 2009 to Summer 2010. Deposits to the Notary in France have been paid. Has anyone else bought into this development and are they happy or otherwise that the completion date has moved by 12 months? Given the bad press that this company is getting are our deposits safe ?