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As you know I’ve been contemplating off loading some difficult properties and have been looking at alternative ways of investing any equity.
A very trusted friend of mine lends to a developer etc and receives 1.2% pm interest on her investment. She has used her developer for 10 years and everything is legalised, has been honoured as she’s very pleased.
So I asked for his contact details and just had a good conversation.
Then jumped on PT peer to peer page to see what other people do and lo and behold there’s a long thread about Glen Armstrong (this guy) which is very negative!!!
co/-incidence and concern.
Many recent thoughts?
Hi Sharron, the negative press should speak for itself! i don't know the chap but i've been on property tribes since its inception and he's popped up many times and sadly not for good reasons! why risk your capital! if you have any doubt at all, dont do it!!!
you'd be better off putting it on the a horse in the 3;30 at Aintree than lending it to Glenn. You'd actually stand a chance of seeing it again.
Caveat Emptor! (Buyer Beware!)Your friend has obviously done business with Armstrong and it appears to have gone okay?! However, what's been said on Prop Tribes and indeed other sites, speaks volumes about another reality of his business, which is not pretty. I don't know the individual, but one thing that would leave me stone cold, even if I chose to ignore all the content on socials, point of fact, he has a bankruptcy hearing pending in October.https://www.propertytribes.com/glenn-arm...34814.htmlThis is a massive alarm bell to both you and indeed your friend. As a creditor of his, she should be aware of it, assuming she's currently lending him money?I am aware of your situation through reading your posts here, and after all that you have been through, I am urging you to act with utmost caution when lending anybody money, but especially someone with a possible bankruptcy on the horizon.
Take it from all the posts on here, the man is not to be trusted. There is court action being taken against him for all the money he has taken and never returned to a list of creditors. Do not be mistaken, a friend of mine invested with Glenn and legal action has been made the only way to get it back.
Hi McCork, I bet you were relieved to get your money back? A relative of mine leant 40K to a close family friend for a business opportunity. The money has all but gone and the debtor has no assets to speak of. A CCJ would be pointless as she has 6 against her name already and would effectively just incure more costs and stress....Hindsight is a wonderful thing.
The money isn't back yet, from what I am told, he keeps avoiding court with stories of an extended divorce hearing.....
I cannot Thank property Tribes enough for providing the forum to guide and steer me through some of these challenges and thank those of you who have responded to this post for your insights. My friend has been very lucky and has legalised the relationship and has avoided any difficulties but I’m not prepared to run the risk.
Thank you all.
(*Moderator note: Comment removed*).
I was at an event last week and overheard a certain person who advocates Glenn telling another person that Glenn owes him money personally.
if it is too good to be true then it probably is.
It is one of the mysteries of the universe why crooks and cheats continue to wind in mugs notwithstanding shed-loads of evidence suggesting caution or the running of a mile or two.Not, of course, that I am suggesting any particular person is a crook or cheat...