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  • Landlords in Distress

    Ben Rogers - is Simon Zutshi correct?

    Hi, I'm a new member here but am having extreme problems on recovering a very large loan from Ben Rogers. I've tried working with Ben over the last 4 months but am getting extremely suspicious about how and what he is doing.

    My exposure to Ben came as he trained me on a Gill Fielding course, I've not yet contacted Gill re this yet, but I am aware that Ben has a bankruptcy petition pending for May and know of two other investors who are also owed large sums.

    One of the investors was actually mentored by Ben on one of Simon Zutchi's Mastermind courses. He has chased Simon regarding this and I understand Simon was very supportive of Ben so am wondering if I am overreacting here?

    I know Ben has other ventures he is trying to get off the ground - Property TV has just raised £321,000 but I have some concerns about this venture and am due to speak to Crowd Cube in the next week.

    I hope Simon is right but I have had 2 bad experiences via the PIN network in the past year - having had to take a presenter at the Croydon PIN to the small claims court and paid thousands to the host of the Kensington PIN for two deals that have been absolutely awful. The experiences have been such that I just simply don't attend the PIN network meetings anymore.

    Is Simon right? Is Ben Rogers trustworthy or has anyone had bad experiences / also due money?
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    If bankruptcy is possibility; thats not good news.

    The TV Company is a seperate enterprise; so should not be effected by the Bankrupcy of one of its directors. There is a risk that the bankrupcy trustee may try and sell the shares but as Ben only owns 17% so hopefuly no risk to its investors. Imagine if he owed 100%; the trustee could pay himself a dividend of all the P2P investments!!

    Those investing via P2P; own shares and they took a risk in investing in the company. There is no guarantees in that and to be fair a niche tv network was always a risk with its big ambitions.

    Sorry to here about your financial difficulties; you secured your funds on an asset of some kind? or just unsecured loans.

    At the end of the day; its quite irelevent what anyone thinks of Ben. If there is a pending bankrupcy he wil either come out of it after liqudting some assets or his debts are cleared and he starts afresh with no assets. Leaving those funds are owed by him with pennies in the pound or nothing - depending on his net worth.
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    THIS PROPERTY TRIBES ACCOUNT IS NO LONGER USED. DO NOT SEND PRIVATE MESSAGES.

    YOU CAN REACH ME AT BESPOKE FINANCE for HMO Mortgages, Cheap Life Insurance and Limited Company Buy-to-Let on 08009202001


    (14-03-2015 06:08 PM)Adam Hosker Wrote:  If bankruptcy is possibility; thats not good news.

    The TV Company is a seperate enterprise; so should not be effected by the Bankrupcy of one of its directors. There is a risk that the bankrupcy trustee may try and sell the shares but as Ben only owns 17% so hopefuly no risk to its investors. Imagine if he owed 100%; the trustee could pay himself a dividend of all the P2P investments!!

    Those investing via P2P; own shares and they took a risk in investing in the company. There is no guarantees in that and to be fair a niche tv network was always a risk with its big ambitions.

    Sorry to here about your financial difficulties; you secured your funds on an asset of some kind? or just unsecured loans.

    At the end of the day; its quite irelevent what anyone thinks of Ben. If there is a pending bankrupcy he wil either come out of it after liqudting some assets or his debts are cleared and he starts afresh with no assets. Leaving those funds are owed by him with pennies in the pound or nothing - depending on his net worth.

    At the end of the day; its quite irelevent what anyone thinks of Ben

    With respect that is a totally stupid statement. Ben has raised over £300,000 on Crowd Cube for his new TV enterprise. Much of that will have come from people who know and trust Ben from attending his courses, or seeing him speak at property meetings. His reputation as a trusted property entrepreneur is central to the risk assessment that any intelligent investor would make prior to handing over substantial amounts of cash.

    Would those who have invested over £300,000 have done so if they had known that there is bankruptcy petition in place and presumably a court date in the offing?
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    Sadly ESF you are not alone.... there have been rumblings about this for a while...

    Have a butchers at this MSE thread

    https://forums.moneysavingexpert.com/show...?t=4893177

    Hes been soliciting loans as recently as a few days ago by the look of it offering people ridiculous rates of return. Probably trying to borrow some more money to pay people back? How much are you in for Eric, if you don't mind me asking?
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    Sorry Adam, I strongly disagree with you here.

    Those investing in Property TV should be made fully aware of the facts - that one of the co-founders has a bankruptcy hearing ahead of them and I'm not particularly comforted by the fact the other co-founder is in his early 20s and his father has himself 29 resigned appointments with all of these companies dissolved. The majority of them were TV or media related. I saw one has been dissolved with a net worth of £-1,689,348, another with a net worth of £-1,653,000. This isn't opinion or speculation - it's a matter of public record.

    Regarding what you think of Ben - I'm again not asking for opinions - but people's factual experiences. It troubles me that he is still looking for finances offering high monthly rates when he has outstanding capital AND interest on existing loans, and a bankruptcy hearing looming.

    This is further compounded by the fact Ben taught and mentored students for Gill Fielding and Simon Zutchi - you assume certain checks and filters have been applied.

    Hi Frank, thanks for link, I was hoping Simon was right and to see / hear something more positive, unfortunately this isn't it.

    In answer to your question - two loans of £75,000 and £25,000 - so £100,000 in total - obviously not a small sum. Ben also has not paid the last last 2 interest payments and is 4 months overdue on repayment of capital.

    Regarding securities - these were unsecured loans but when problems arose I did try to work out a solution with Ben where charges could be placed on some properties. Ben was very slow to take action and ultimately the bankruptcy petition blocks off a lot of options - it's not a trivial process and certainly one that any investor should be made aware of.

    Bob - I'm afraid I also agree with you here and cannot understand Adam's position at all.
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    I would wager than Ben Rogers (quite rightly) never sees the crowdfunding money. There's no way that cash can be released now all of this has come out.
    If I was an investor I would be banging on the crowdfunders door asking what due diligence they did before his offering was accepted.
    A lot of investors have had a lucky escape here, thanks to PT, Frank and a few others.
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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


    I'm due to speak to Crowd Cube tomorrow. I pretty much agree with your comments here - I just don't see how it is appropriate you can raise further debt under these circumstances.

    I would like to know the extent of Ben's loans and what will be done to resolve this by the people who hired Ben and gave him an audience in the first instance - or share their information that shows the situation is overblown and all is fine. We should not prejudge but unfortunately I have not seen or heard anything positive since posting this.
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    I was answering the question:
    "Is Simon right? Is Ben Rogers trustworthy or has anyone had bad experiences / also due money?"

    On that point it's irellevent what anyone thinks of Ben. If there's a pending bankruptcy it's not good news. Pennies in the pound returned or nothing.

    (P.S. crowd cube is not debt it's money in trade of shares of a startup ).

    Sorry esforward that was very foolish lending such amounts without securing it in the first instance. Trying to do it later with your fingers crossed! Is no good.

    Shocking how many times we read same story in property, lending with unsecured loans. I'd say at least you have a contract but if bankruptcy a possibility may have little worth.
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    THIS PROPERTY TRIBES ACCOUNT IS NO LONGER USED. DO NOT SEND PRIVATE MESSAGES.

    YOU CAN REACH ME AT BESPOKE FINANCE for HMO Mortgages, Cheap Life Insurance and Limited Company Buy-to-Let on 08009202001

    (14-03-2015 04:49 PM)esforward Wrote:  Hi, I'm a new member here but am having extreme problems on recovering a very large loan from Ben Rogers. I've tried working with Ben over the last 4 months but am getting extremely suspicious about how and what he is doing.

    My exposure to Ben came as he trained me on a Gill Fielding course, I've not yet contacted Gill re this yet, but I am aware that Ben has a bankruptcy petition pending for May and know of two other investors who are also owed large sums.

    One of the investors was actually mentored by Ben on one of Simon Zutchi's Mastermind courses. He has chased Simon regarding this and I understand Simon was very supportive of Ben so am wondering if I am overreacting here?

    I know Ben has other ventures he is trying to get off the ground - Property TV has just raised £321,000 but I have some concerns about this venture and am due to speak to Crowd Cube in the next week.

    I hope Simon is right but I have had 2 bad experiences via the PIN network in the past year - having had to take a presenter at the Croydon PIN to the small claims court and paid thousands to the host of the Kensington PIN for two deals that have been absolutely awful. The experiences have been such that I just simply don't attend the PIN network meetings anymore.

    Is Simon right? Is Ben Rogers trustworthy or has anyone had bad experiences / also due money?

    Unfortunately I am in a similar Boat to you.

    I was on Simon Zutshi Mastermind course and as part of the course we were assigned a coach to help us progress through the course. I was assigned Ben Rogers and very early on he approached me with a very attractive loan offer of 4% a month for only 8 months on £50,000. only a couple of months after the loan was made it was a continuous battle to get the monthly interest payments made on time.

    after 8 months (august 2014) excuses were made and yet to date the loan is still outstanding and interest payments have also stopped.

    I still see emails going out from Ben asking to borrow more money offering as large as 5% a month when is cant even pay his existing debts.

    If it was not for the Simon Zutshi Mastermind Course I would never have met or Trusted Ben Rogers and ended up lending him 50k. A very expensive Property course it turned out to be.

    I have also found out recently Simon Zutshi has apparently recently made it so Mentors and Coaches are not able to borrow money off students, if only this was the case when I did the course
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    Hi, I am also a new member and joined just to add to these posts.
    I too lent Ben Rogers money, this was after previously lending money to Simon Zutshi, and having a good experience. Having met Ben through a Rick Otton course, and then later going on one of Ben's courses and hearing what a successful property investor he was, I thought that his reputation would have been of utmost importance to him, how wrong I was.
    It was a 6 month contract, a personal loan, to allow him to buy a couple of houses on a lease option. Although it was unsecured I thought:
    a) he is a successful property guru, who depends on his reputation.
    b) he is putting the money somewhere safe i.e.. into property
    In fact 4 of the 6 payments were late, I had to chase him up, and the whole amount is now one month overdue. I now find out about this property tv business being hundreds of thousands in debt, and I don't know where I stand. It seems to me when he was asking for the loan 7 months ago he knew he was in trouble, and I received another email from his office the other day asking for a loan to buy another house on a lease option, for a short amount of time, at a high interest late. Won't speak to any of the people he has ripped off! I know of one other person in the same position as me. I am so angry with him. He knew exactly what he was doing when he took that money.
    I have sent a formal letter demanding the money back, or I will take him to court. Is this the best course of action in the circumstances?
    I feel so stupid to have trusted him, but like many others we thought he was legitimate, rather than what he is:
    A CHARLATAN!
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    Adam, I It is relevant what anyone thinks - as that's the basis for whether you invest in a person or their business and the actions you take if things go off course.

    Re Crowd Cube - that's semantics and the point remains - Ben Rogers is raising money for another venture and yet another post pops up for someone who is owed funds / has had a bad experience. You didn't answer the question but I will - no, I don't think Simon is correct, this situation is clearly not under control.

    If a bankruptcy a possibly then this may have little worth - next you'll be telling me the sky is blue and bears s**t in the woods? How enlightening.
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