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  • Landlords in Distress

    Platinum Portfolios

    Dear All,

    I've read through the 'epic' thread running on here regarding the above company.

    I see the Thread was closed, i read through it all this evening & it made difficult reading if nothing else.

    I have purchased a property through PP & received a refund for an amount of ££, so by no means think all of their intentions are as stated on here by others.

    The property i purchased has been owned by me for around 2 years & it was purchased through the scheme advertised on the website. I have received monthly rent for this & it returns a profit above the figures stated on the site.

    I thought i'd post this as there didn't seem to be anything positive at all in the last thread.

    I too have further refunds pending, I will leave this with PP & await further information.

    Could we leave this thread open as one for sharing positive factual information if received by anyone... If PP are confident that completion of the current schemes will resolve all issues, I would like to see this happen.

    Alex
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    There is for sure more sides to the story.

    Perhaps Alex that this is your first and only post - you may be connected with Platinum Portfolios.

    Or my guess is that Platinum Portfolios did not set out to deceive and scam people. They instead had some deals that went well (yours) and others that did not go so well as seen in this topic.

    After reading the other Topic Alex, does it make you more reserved in any future business with PP? or carry on regardless?
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    Hi Adam,

    My only connection with PP is the purchasing of properties through them.

    I agree that it is most likely that their intentions were/are still genuine.

    I had a plan to buy a lot of properties through them, this was after the one i purchased went so well, I had it revalued (as an estate agent estimate) a year later & that figure was higher than the PP one at time of purchase, so i was happy with the concept & how it worked.

    I too have deposits I am awaiting return, but providing these come back, I would possibly proceed with more, on a cautious basis. Obviously the current situation changes peoples perception of the situation, including my own somewhat.

    I am keen to see how this progresses, if their is any assistance we could provide in resolving the situation, resulting in full refunds/property completions being achieved, i'd happily do so.

    I think PP/receivers need to keep us all well informed of the progress, almost on a day by day basis, maybe on here or on their website. This would include good/bad news, at least then we all know where we stand.

    Alex
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    Alex,
    Do you mind sharing some of the detail with us....what did you buy, where is it, how much, yield, value now etc [/size]?????
    I seem to spend half my life looking for good deals If someone can find them for me, that would be great. I am Platinun Partners Mark2 will soon rise from the ashes, so If its that good we can all pile in.

    Phil Stewardson.
    Stewardson Developments Ltd.
    http://www.stewardson.co.uk
    Follow me on twitter - @philstewardson[size=small]
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    Phil Stewardson.

    Stewardson Properties.

    Stewardson Developments Ltd.

    Burson Land Ltd. & Jennings & Gilchreaste Ltd.

    http://www.stewardson.co.uk

    Follow me on twitter - @philstewardson

    Hi Alex,

    Welcome to Property Tribes.

    Due to the sensitive & contentious nature of this topic, just like we asked for proof from the people who lost money, we would like to request proof from you in order to let this thread stand. That is fair to all and gives a true picture of Platinum Portfolios, past and present.

    Please could you private mail Nick a redacted bank statement showing your mortgage payment and your rental income from this property?

    If we do not receive this proof within 24 hours, I am afraid we will feel it necessary to delete this thread.

    Thanks for your co-operation and you can email the evidence to nicktadd (at) mac.com .
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    Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **5 reasons to get your FREE portfolio review NOW**
    Hi Phil,

    I read your post as somewhat tongue-in-cheek, but i am happy to respond nehertheless.

    The propert was one off of PP's Website, in a town in Manchester, was a 2 bed house (as Advertised) & turned out to have a 3rd bedroom in he loft, found this out after purchased....... strange but true.

    Mortgage is on a BLT and £190 (roughly) per Calender Month, after paying the estate agent their fee for management I get roughly £330 back form he rent, property value is between 70 - 80 K & mortgage is around 50K so no bad.

    Paid a set fee to PP to source the property, no fuher money down for a deposit or fee's & got a mortgage, mortgage is variable, so subject to change, but on such low amount owed could withstand paying a higher mortgage wihout causing me any real harm.

    The rules then seemed to change on using the difference in value of he property & the sale price as the deposit, so the no money down option looks to have gone out of the window for now.

    I own other BTL poperties, was just interested in this option as something different.

    Vanessa,

    I just sent a brief reply to you personally & will mail nick tadd as requested
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    Alex,
    Fair play, I did have doubts as to how genuine you were, but that sounds plausible so, if thats the case, other investors may get some confidence that deals they have paid for may actually arrive.
    Not wanting to tell you your business but your comment about finding another bedroom in the loft, If this doesnt have a proper staircase or doesnt comply with regs for a loft conversion there are issues there, Its not a bedroom and cant be desribed or used as such.....I guess you already know that, but just in case.
    Good luck, I hope you get the refund you are awaiting, along with some of the others that posted too, some really harrowing stories there.

    Phil Stewardson.
    Stewardson Developments Ltd.
    http://www.stewardson.co.uk
    Follow me on twitter - @philstewardson
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    Phil Stewardson.

    Stewardson Properties.

    Stewardson Developments Ltd.

    Burson Land Ltd. & Jennings & Gilchreaste Ltd.

    http://www.stewardson.co.uk

    Follow me on twitter - @philstewardson

    Thanks for offering to send the proof though Alex, and for your private message.

    You mention that you didn't know there was a third bedroom.

    Please correct me if I am wrong, but it sounds to me that you did not view the property before purchase?

    If that is the case, then I have to say that you have been exceptionally lucky and I would strongly advise you to view any future purchases to ensure that you understand them from every angle.

    Pictures don;t show you the smell of the sewage farm down the road or the 24 hour transport depot next door with trucks roaring in and out!! Smile
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    Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **5 reasons to get your FREE portfolio review NOW**
    No I didn't, yes took a chance...... google maps can save a lot on petrol.

    What's life without some risk

    Seriously, I spent a lot of time researching PP before my first purchase & spoke to a lot of solicitors etc, all stacked up.

    Lets se how it unfolds, I hope PP come back into the forum in a positive way.

    Nice Forum Site by the way, i've not been on one before, I will have a look around.

    Alex
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    Alex

    Thank you for your positive comments which have of course been few and far between and understandably so due to the current position. I am happy to report and update all concerned on forums or private email whatever is nessecary to succeed in getting the projects through and any refunds repaid which has been the consistent message since I was aware of the bankruptcy from me and I intend to see it through.

    Vanessa you welcomed this action when I came on to the forum and maybe its just a little paranoia but every thing positive that is trying to be reported is then questioned and you mention lost funds which surely can only be the case when it is proven their are no funds to be realised and that is not and will not remain the case. I am glad Alex has backed up evidence of his purchases for you and their are as many people already been refunded previously and completed on projects who I would encourage to record this on here. You stated to me that Nick is the moderator and you had no idea why I was emailing you, which puzzles me as to why you are asking for proof and threatening then to remove things and not the moderator? I am on here to sort things out and you know more than anyone that I have restrictions in what I can do at this stage but that doesn t mean that I can t respond with what my intentions are. I too have been speaking with the investors of which their are many and they have informed me of the emails they have received from members of your forum and even phone calls claiming to be from essex police stating they were carrying out an investigation into fraud and would they give a statement! I went to Southend Police Station immediately to be informed that their is no such investigation and now I have had to report the source of these emails and phone calls!!

    All of this is unpleasant and unnessecary but more importantly damaging to those investors who are relying on a positive outcome to what has happened. I do not know you personally and I welcomed nick s approach to how the thread was being responded to which is why I want to continue to work with all investors and via this forum if required to report everything that is happening factually as and when it occurs . I know how you want a positive outcome for all concerned then here is my answer, I am able to make these things happen more than anyone else involved and will provide you evidence after it has been approved by the receiver after my meeting on Friday which will prove once and for all that I am doing what I am claiming to do and that there is going to be the outcome that everyone desperately wants to happen.

    No one has been scammed, all of the projects were contracted and all of the properties that we are contracted for are for the sole purpose of being supplied to Platinum Portfolios investors to complete. Any profits from these completions are to be looked after by the trustee and distributed to any creditors. Is it too much to ask for this forum to encourage investors to see if this is in fact being actioned before being negative? I have seen you responding to negatives written about others in liquidation such as Landlord action and giving your support and rightfully so to someone trying to do the right thing. Well I too am trying to do the right thing and just want the opportunity to get on with it. I believe the majority of the investors from the responses I have received directly also welcome that. Please endorse the positives on here and this will go a long way in achieving this.

    If any investor that has purchased with Platinum wants to speak to me directly then please email me and I will talk to anyone. This is not easy to do via forums when a lot of the names are aliases and do not give their full names. If any investor would like to cvlarify that I have spokn to them in the last twelve days then feel free to let everyone know and those who I haven t please be assured I will get round to you all. No more long posts from me I hope what I have tried to get accross has been achieved. Thank you Mike
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    Mike,

    Thank you for replying.

    Considering this thread was intended to keep things positive, I dont think it was necessary to to pick up where you left off with Vanessa on the previous thread.

    The above aside, I understad your desire to defend yourself & see this situation through, I would personally nto want to have this hanging over me.

    So what is the next steep for yourself & us investors.... either awaiting propoerties or further refunds, do you have any idea on time scales (be realistic)?

    I think you have a fantastic opportunity here, if you see this through to he end so all parties are happy, you will probably secure investors that come back again and again, not many people are expectig this to end well & i think they have fair reason to currently believe this.

    Thanks
    Alex
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