Intention to collect rental and the cash rebates for 2 years.

680k/690k++ is the price stated on the SPA. Excludes the 7% discount and cash rebate (RM4K every month for 2 years).

I really think it's a good deal. Too bad my loan application was rejected.

DIBS + 7% discount + cash rebate (RM4K every month for 2 years after completion= RM96K) + Free SPA legal fee + Free 5 years car park + Free 1 year service charge / maintenance

He signed the SPA in 2013. The project expected to complete in 2016. On the 5th year (2018), will consider selling it at SPA price (minimum) or higher. Can avoid RPGT somemore. 

How's it similar?
We are talking about buying property here.
There are black and white documents (signed and stamped SPA, letters from developer) to evidence the entire transactions. Housing loan is taken and loan documents are signed. Developer is highly reputable.

Classic apples and oranges comparison.

Personally, I would feel safer to invest in property. Even Warren Buffet thinks that investing in gold is stupid (source: http://www.marketwatch.com/story/why-buffe...pid-2013-04-18)

Btw, developer SPA is strictly governed under Housing Development Act. House buyers will somehow be protected (not fully, of course). The loan will be progressively disbursed by the bank in stages until completion. The buyer will be able to see, feel and touch the property and finally take legal possession.

I am not sure about the whole Genneva's scheme. Is the physical gold in the investor's own possesion? Guess not. If yes, don't think their investors would be making SO MUCH noise if they actually have the gold in their possession.

Plus, buyer must be careful and do a proper due diligence on the developer. In my friend's case, the developer is a public listed company (with good track record) whereas Genneva is a private company.

How could it be the same. Genneva is a scam ponzi scheme, am I right?

http://www.akpk.org.my/learning/articles-a...investment-scam
http://www.thestar.com.my/News/Nation/2014...ra-codefendant/