Singing Pig

Specs, you said:

For every success there are thousands more who have lost money and not succeeded in this business .

Does that not apply to most other businesses as well?

You state that we make out we are the saviours, well NO I DONT, I always tell me vendors thats I am just an option and there maybe other options. For those that ar in Debt or facing repossession I provide them with SHELTER leaflets so they have another source for advice. I have lost deals by doing this but it helps me sleep better at night.

Specs, here is a simple question, try answering it...

A family is facing repossession in 3 days

- Lender wants them out

- EA cannot get a sale in that time and also charges them 1.5% + VAT

- They do not have any money for legal fees

- The advice they get given is just that...ADVICE...no institute helps them avoid repossession, these institutes help them AFTER repossession

WHAT WOULD YOU DO SPECS?

As far as CAB go why dont you read this...

http://www.singingpig.co.uk/forums/thread/215448.aspx

Theres a mother with 2 kids who is still in a B&B and with no sign of housing. FACT...there is a housing shortage and it is a struggle to accomodate vulnerable people which is why they spend months in a B&B when they should only be spending a few days! 

Yes there may be cash buyers who take advantage, but dont tarnish us all with the same brush. The same applies to plumbers, Salesmen, DG companies, roofer, professional so called ethical companies who misold endowment polices, banks with their high charges and probably your industry whatever it is.

Final words...

It is easy to put someone/something down, however you only have a right to do this if you can provide an alternative....UNTIL THEN...

 GET A GRIP...

NOTHING you gang of BMVers say will put me off the CAB as the main port of call for these families in desperate situations.

They are a non profit making organisation trying to help people out and NOT to quietly relieve them of  a large proportion of their one asset to fuel their own profits.I would rather GIVE the house away than enable a BMVer to make thousands of pounds at my expense.

As RJHunter said you can all bleat on about your public service and charitable doings but you are NOT in it for that! Its for the QUICK PROFIT out of a no win situation so for you all to criticise the CAB could be because "DAMN another £20k easy money and continuous rental income gone begging"

If I have worked hard for years for a property I certainly wouldnt let some little get rich quick merchant, on the back of a course and a promise of easy profit , relieve me of any of its equity EVEN IF IT DID IMPROVE MY SITUATION IN THE SHORT TERM

Debt consolidation agencies also Improve things in the short term until the debtor realises that his £30000 debt is now probably £50000 after it has been spread over 25 years with interest rather than the original few years.

The sheer arrogance of some of you property moguls on the back of your mentor meetings and inspirational talks from your monthly get togethers is truly staggering!!

Nite nite AGAIN!

OK so to summarise you would rather be repossessed and put yourself and family in a B&B instead of selling it to a property investor where you:

- Remain in the house on a rent much lower then what you were paying before

- Clear your debts and know there cannot be any comeback to you (Possibility even after repossession)

- Get some cash in the back to start again (This should be one of the aims of a ethical trader)

Im not having a go Specs, just asking you to confirm that I am on the right lines of what you would do and would advise someone.

CAB are a fantastic, much needed, essential but under resourced organisation. The person giving advice to people in distress are not, in many instances qualified. They have just been trained on routine answers and what CAB offers.

Also you still havent answered what I asked, you know someone is about to be repod, what would you say to them? If the answer is CAB then im sorry but CAB can only offer them a B&B after Repo, nothing else.

To be honest it doesnt matter two hoots to me or anyone else here what you think or wether you beleive us or not, the fact is YOU came onto this FORUM and were giving you a point of view.

Oh and we sometimes sell BMV as well, im doing this at the moment on a property. It is not just desperate/distressed people who sell.

I am certainly not in it to help people as my main concern, I am in property as a tool to give me a better Quality of life and to be financially free by the age of 32. However I will NOT try to get to my objective/goals by exploiting distressed vulnerable people and those that do I feel will regret it (What goes around comes around). You can be in this business yet still have ethics and morals and it is crucial you do this.

Another point,

If you have such a big issue about offers that are 20% BMV  I expect you do write letters and protest against all Dealership who will knock 20% off the value of a car for a trade in.

You can sell a car privately for £10,000

or you can go to a dealer who will offer you £7500 if you just sell it to them direct or £8000 for a tradein.

Go figure...

Specs, you have done an excellent job of challenging people and generating a lively discussion, so I thank you for that. I still believe, however, that there are good and bad property traders, just as there are good and bad in every industry. Yes, there are people who are vulnerable through their own ignorance and there are unscrupulous traders who will fleece them. There are also decent people in the property business who will not fleece them, and these are the traders we should be encouraging, not tarring all with same brush. Predictably enough, it is those decent, honest traders who survive in the business and are most successful:you would make your own case a lot more credible if you acknowledged the good guys rather than slagging them off and lumping them in with the bad ones.

Hi Specs

I totally agree with you.

This is my story...

I went to the temple every Saturday morning and asked for forgiveness for all my sins. Never touched drink, drugs or meat. Some would describe me as model citizen. An “Angel” if you will.

Then one dark day, a fellow investor asked me to join him to a property investor meeting. I remember that day well. There was talk of untold riches. Wealth that would give us power beyond our wildest imagination. We would have big houses, fast cars and even faster women.

I walked out of that meeting a changed man.

Today, every Saturday I sacrifice a lamb to the gods of Property. Drink the warm blood and set out in my quest of finding poor helpless beings who have fallen victim to the debt trap.

Divorce, separation, repossessions, ill health...its all their own fault. They should have known better. They are the victims of their own miss fortunes. The greater the misery, the more I exploit their situations. I grow stronger with every deal I make. My quest for motivated sellers is never ending. There is no rest for the wicked...