Welcome To SingingPig.co.uk

Hi all

 For my expereince see Groucho's post 2 above this i'm afraid.

Ok i misunderstood- I thought one of your posts was saying you had complted a deal with them before.Maybe you were replying to a different post to the one i was looking at. No worries.

They have a London deal on the go at the moment- 85 properties in central London and docklands at Various locations- apparently instructed by a liquidator of a portfolio to market them at 30% BMV- they look good and - furnished but i am not sure whether the rentals stack up

.A lot of what was new build- probably 2 years old- Albert Embankment and stuff in Farringdon/Clerkenwell- which is a great location and excellent long term buy. Don't know if you guys know London or the areas?

Has anyone come across this deal ? any thoughts? 

Hi James,

We could only advise you if these were "deals" if we understood your personal financial situation, what you are trying to achieve from property, what your attitude to risk is, how much capital you have to invest, how much time you have to dedicate to this .... the list goes on.

Property is very personal to you and you are the only person who can fully decide whether a deal is right for you or not.

What is right for me would not necessarily be right for you.

May I suggest that you forget the term BMV?.  It's meaningless in the current market conditions.  If you are basing market value on a RICS valuation, it's a guess-timate at best.  Valuers are human, and they can make errors. 

The question you need to ask yourself is, "if you buy one of these flats is it going to pay you net profit at the end of each month"?  Or do you think it's okay to work for free ... ?

The flats market is supported by novice investors and first time buyers, and none of them can get the finance at the moment, which is why flats are falling through the floor ... plus many areas are over-saturated and its hard to get a tenant as you are competing with hundreds of other apartments.  That could even be the reason why the original owner of this portfolio got into such trouble that he/she lost everything.

Before thinking of buying anything, go back to square one and start again.  It's fundamental to understand how to stack a deal.  It's so easy!  You don't need to pay fees to these companies to "hold your hand".  Their sales agenda is not the same as your needs agenda.  Please be very careful and do masses of due diligence and research before parting with your hard-earned £££££.

Dear Singing Pig Members

I have been toying to and fro with the concept of putting a defensive response reference my firm regarding some adverse comments my marketing team have made me aware members have posted on this forum.

Obviously I decided some sort of response was warranted but before I did so I have tracked down and spoken to investors that appeared to be aggrieved, only they, if they choose to do so can now post their feelings towards my firm.

DPL is a new firm, its directors and employees however are not new to this market. My team includes FSA principles and ex bank managers, all with yrs of experience. It appears from speaking to my investors that the biggest complaint they have about us is lack of communication. We seem to have failed from time to time in that respect as our demand outweighs our resource and we will be getting this resolved, for this I apologise. We are awaiting implementation of overflow lines, we have learnt one phone line was a bad idea and also suffered website anomalies’ recently. These are not excuses I am simply being brave and telling you all where we went wrong and that mistakes are being addressed. There has been an issue where one particular investor was not kept fully up to date, which is not good enough, and believe me I have let the Salesman who job it was, know this.

We sell a range of stock, we complete on this stock and we have a fully compliant and heavily scrutinised completion package. These are our facts, as with any new relationship it is you that must decide whether you wish to gamble yours and your associates funds. We pride ourselves on the investor relationships we build and are not just in this business to make a buck, we want long lasting relationships. We all know that people buy off people,a nd that's why we have been so successful.

My parting note on this subject is this. As with the current market place, we have had property deals fall through and I value my investors time more precious than my own, but without exception not one single investor has lost a single penny from a past or ongoing relationship with DPL. I challenge anyone to disprove this. We have lost money and have taken it on the chin, it's policy not one of our investors ever will.

Whether this was a good idea to post or not ladies and gentleman, only time will tell. My office line is 0151 486 5222, I have agreement from several investors to divulge their details to you if you have concerns you feel testimonials will suffice and I welcome your call.

Kind  Regards

Phil

Managing Director

Distressed Properties Ltd

Hi Phill,

I personally dont know yourself, but I respect anyone who comes on a forum and states his case and answers questions relating to his business.  You did own PLS Finance?  What happened to that company that company was only set up in May 2008 and was disolved and dissolved 7months later. You set up distressed Properties in June 2008 with Steve Chaney who was also co-director with you in PLS Finance. 

 Why did PLS Finance go down? What is your business association with Leigh Haywood?

I think people have to be completely honest when they do business together and upfront with there potential clients. You claim not to be new to the marketplace, but Leigh Haywood is most certainly not new to the market place as he has shut down 5companies that I know of all with lots of debts behind him.

 I think we all lay cards on the table and answer some of the questions put to yourself. 

Jax

Guardian Angel

I commend you for your thoroughness I am happy to answer any questions. We run a business ethic here of transparency and with people like Mr Heywood around you need to.

PLS Finance was set up in name only. It did not trade for a single day and if you wish to dig further you will be able to collaborate that. Steve Chaney is my current business partner, it is a partnership that began in June 2008 and is working well. Steve Chaney is a financial whizz and I recommend anyone in our market place speak with him. He works closely with the FSA and CML and is the foundation of where all our success has stemmed from. If you ever get the chance to speak with him, I would recommend you take it. I believe he is registered on here but is an infrequent visitor.

PLS was registered and born from an idea of setting up a separate finance company, to create an additional income stream and employ brokers to specifically deal with the workloads that me, Leigh and Steve were doing. It became quickly apparent that Mr Heywood was not as he claimed to be and we quickly distanced ourselves from him and have not spoken since this day. We had had what you call a lucky escape. I have ethics, and believe my investors are the best asset any investment company can have, and I wasn't willing to risk my relationship with them, as I wasn't at ease with Mr Heywoods ideas or ways of doing things.

As per present day we know nothing of his whereabouts other than this, which you may or may not know. He has gone into liquidation and possibly taking a ride on the high life with other peoples money. He has also we believe transferred all his assets and is hiding under another company name called Regent Marshal. Visit him at his weg page www.regentmarshal.com if he owes you or your associates funds. Be cautious as he is a nasty piece of work, and it's people like him, that make it harder for the good guys in this business.

You may have further questions and I welcome them all, you are welcome to call our office at anytime and voice any concerns you have. Again transparency is key.

Phil

Hi Phill,

Many thanks for the prompt response.  I only highlight your assiciation with Leigh due to the fact that he has alot of angry people behind him.  If as you say is correct, that you have no association with him then great news. Hopefully we'll get him fully out the business so as to protect other investors.    I'm sure you can appreciate the need for looking into companies that are sourcing deals as there is way too many sharks out there. 

Guardian Angel