Housesale2day

Property_Triber

A post has appeared on PropertyTribes.com over the weekend about Ben Rogers owing people over £200K.

Sorry, as I am new, I cannot post a link.

There is apparently a bankruptcy petition for Ben Rogers set for 5th May.
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I am sorry to say that I think anyone who lent him money has been stung.

The best thing you can do now is join together with other affected people for support and also seek legal advice.

Good luck in getting your money back.

Grumpelstiltskin

PT Have you obtained permission to post from MSE?
Anyone using a website name as their username needs permission to post.

Property_Triber

Thanks for the advice. I was not aware there was a website called Property Triber? If there is, happy to change my user name.

Grumpelstiltskin

Property_Triber wrote: »

A post has appeared on PropertyTribes.com over the weekend about Ben Rogers owing people over £200K.

Sorry, as I am new, I cannot post a link.

There is apparently a bankruptcy petition for Ben Rogers set for 5th May.
-
I am sorry to say that I think anyone who lent him money has been stung.

The best thing you can do now is join together with other affected people for support and also seek legal advice.

Good luck in getting your money back.

Err You mention it in your first post.

wwtrend

As a property investor I have lent money in the past to the Kent based individual above and had no problems whatsoever. My interest was paid when it was supposed to and my monies were returned in full at the end of the deal. He has been in the property business for a very long time, is well known and has a solid reputation in the industry. I do not know what is the cause of something appearing to go wrong in his business recently but I can't help feeling that adverse publicity where someone is named online suggesting scams, without knowing the full details of the problem and before any proceedings have been instituted by complainants, would jeopardize any chance of recovery by any business. This does not appear to be the case of the director of a ltd company closing a company with no assets and the customer losing out whilst the director retained his own lifestyle, this is a case of someone who did business as an individual and stood to lose personally if a deal went wrong. At least my deal was with the individual in person and not a limited company.

What I do know that is that:

Bespoke property sales such as described can benefit all parties concerned,
they are carried out all the time and as with any property sale all parties should seek legal advise in relation to the sales contract.

The property title remains in the sellers name until the deal is completed which may be a few years instead of the 6/12 weeks most are used to. The majority of deals allow for all or the majority of the equity in the property to be paid out straight away.

The property will revert back to the seller if the contract is broken and they should be no worse off than where they started from and probably have had a number of mortgage payments made on their behalf and may well have received a sizable chunk of cash at the outset as well. Whilst not as widely known about in the UK for residential properties bespoke property sales are the norm for commercial property transactions.

With financial Investments people are frequently warned not to invest more than they could afford to lose. I used to do all my own stocks and shares but the research took me a long time so I got a broker and relied on their advice without doing my own checks and guess what; I lost money. The advice is always do your own checks anyway so it was my fault for not doing that so I don't use a broker anymore but as I don't have the time or the same money I had, I don't do much by the way of stocks and shares now. I can't claim that the whole financial stock market industry is a scam just because there have been scams on it in the past. In the property investment business it is wise when lending money to get it secured against an unencumbered property owned by the person you are doing the deal with.

Like any business I have two bad debts one was with a Marketing company with which I had a contract and paid for services never received or completed. They stopped trading as a limited company which means I can't enforce my contract but the business is still trading but I can do very little about that. The other I intend to pursue through the small claims court. I am not very happy about either but I can't knock the marketing industry or the property investment business I will and have changed the way I do business, particularly paying upfront for services not delivered or even partially delivered.

We all like to think the worse of people in business when we lose money but the truth is s*** happens. Richard Branson nearly lost the Virgin Group overnight just after he had launched Virgin Atlantic because I think the bank pulled the plug. I know of a big commercial builder where the same think happened whilst he was in mid development. The company and development went under but the individual was able to restart and has built up their company again. Donald Trump and lots of other top businessmen have lost everything at least once and had to start again.

If you have been suffered loss in any business dealing or investment I would recommend you take legal advice asap or go to Citizens advice bureau and make sure you have a claim lodged in the correct manner to best protect your interests.

Would I do business with the Kent individual again in the future once they are sorted out? The answer would be yes and I would try to ensure I protect myself against with the deal with legal advice.
Would I do business with the marketing company. Only if we can come to an amicable agreement outwith the contract
Would I do business with the third individual. No I'm having to take him to court and he has shown no good faith in trying to make the situation right for me but I'm sure others will and have and it will work out alright for them

I understand the pain and financial hardship which comes with people not doing what they are supposed to and there can be a knock on effect down the line too. I think the only advice I can pass on in business is Don't just not do it , do it smarter. Not sure who the original quote belonged to though.

DaveDriver

The purchase option is a valid strategy for acquisition of property. It was less well known in the residential markets, although has been used in the commercial property world for a very long time.

When options popped up as a strategy for the residential property market a few years ago (just after the credit crunch bit) a number of so-called experts made themselves known. Ben Rogers was one of these, being associated with an Australian options expert (Rick Otton) who taught courses in the UK.

Having vaguely known Ben for a number of years, I believed that he was a reputable guy in the property world, and recently was persuaded to lend him some money on an unsecured basis. This money is now overdue for repayment, but it has not been paid and he is not replying to calls or emails.

Draw your own conclusions.

Running_Horse

Any more of his mates got anything to say about what a straight up guy he is?

gillferris

if your owed money by Ben Rogers please register on facebook page creditors of Ben Rogers we are all contacting the police and there is a central crime number on there