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I had a look at the "Investors" tab on Lee Pemberton's website and was concerned to see that it appears that Lee Pemberton is operating a "collective investment scheme" without being FCA regulated.Lee Pemberton appears to be pooling investors' money and offering a return without being regulated and this is a very high risk situation for anyone who has invested with him.A CIS is a highly regulated activity and there are very strict rules about financial promotion and how the scheme is managed and operated to protect consumers. Lee Pemberton should not be undertaking this activity without being FCA regulated.Unregulated collective investment schemes by their nature are risky products, and because they are not regulated by the FCA, you may not have access to the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) if things go wrong.
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
Before making this post I have been in contact with the moderator as I wish to keep my identity private.
This post is based on actual facts and is summarised due to a current legal case
Lee Pemberton portrays himself as an experienced and credible SA operator which has been in business for more than 20 years
Sadly this is far from the truth
I've personally invested over £40K in his portfolio builder service and after being part of this service for over 6 months have not received any revenue, bookings. This 'hands off service' just isn't, the apartments aren't set up correctly, the communication is nonexistent
The 'Deals' which he presents are far from deals and his numbers don't add up
I will be the first to admit I should have done more due diligence on Lee and his Serviced Lets business but I didn't so part of the reason for me posting is so others can learn by my mistakes
Lee does the majority of his communication over the phone and won't commit to anything in writing
When questioned and challenged he comes up with excuses after excuses and brushes you off.
His serviced lets operation DOES NOT WORK, they don't even do the basic management, marketing of the apartments are poor, operations are non-exisitent and the apartment locations are such that they are not in attractive locations for guests despite us being reassured that Serviced Lets will build direct relationships with corporates and local businesses.
You are tied into using his bad management company, Lee claims to build your SA business with you until you start to complain and then the real Lee Pemberton shows up and the bottom line is you are on your own, out of pocket with apartments which don't work
He is a professional con man and does not care who he leaves out of pocket, his FB persona is not who he really is
Of course, this is my experience but, please take my advice and stay well away, and do not 'invest' with Lee Pemberton.
Thank you for posting your experience of working with Lee Pemberton. Are these actual properties Lee has sourced for you, that you now own? Or are they Rent to Rent "deals"? You mention you have apartments - does the lease allow sub-letting? If not, I don't think your R2R SA business will have too much longevity unfortunately. But whether it lasts 5 months or 5 years, the sourcing fee has been paid!I was directed to a recent "facebook live" recording of his and found it very generic and lacking important detail. It was obvious that a number of people on the recording were dissatisfied clients and were making pointed comments, which LP simply glossed over.It is obvious that he has a following and, like others, he is successfully using social media to grow that, so hopefully social media can also be used to warn others about his business practices ...
Hello everyone,I made an account frankly just to say this. The company I work for worked with servicedlets for a time, TERRIBLE service, (*Moderator note: content removed*).Money was withheld from us on numerous occasions, the flats didn't get filled as he had promised and his team allowed a load of scammers using other peoples credit card details to book in and then they would trash the apartments (not great at doing relevant checks!).Overall absolutely terrible experience with them! Never ever again, steer clear!
Sorry, but I don't understand your post - which is full of serious and unsubstantiated allegations.In what capacity did your company work with Lee Pemberton's? You suggest you were hoping to receive a "service" from him. What was that service?What do you mean about scammer's using other people's credit cards and trashing apartments?