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  • Property-a-holics

    Newbricks Property Consultants

    Hello!

    I am a new member, actually quite new in England and I would like to ask about Newbrick consultants based in St Albans, Hertfordshire.

    Have you heard of them, or perhaps worked with them? I found their add in YP and it looks interesting as well as their possible deals.

    Looking forward to hearing your comments.

    Kind regards. C

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    I like their website, they seem to be a proper established business in 2007 so a good Five Years. Their financial accounts do not look very good in recent years, but that being said they seem to be ok.

    Their directors seem to not have any bad business exits, with two directors and 50/50 shareholders they both own Newbrick Consultants and another company Newbrick Investments.

    I'd personally ensure you put any funds with your solicitor in a deposit account. This will enable you and your solicitor to have the final sign off of any transaction and your funds don't disappear... Its not a cash rich company.
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    --- MORE INFO HERE ---

    YOU CAN REACH ME AT BESPOKE FINANCE or MY TEAM AT 08009202001

    (16-07-2012 08:02 PM)Mcgs Wrote:  Hello!

    I am a new member, actually quite new in England and I would like to ask about Newbrick consultants based in St Albans, Hertfordshire. Have you heard of them, or perhaps worked with them? I found their add in YP and it looks interesting as well as their possible deals. Looking forward to hearing your comments. Kind regards. C

    What are you thinking?

    What would you like to do in terms of investing? Is there a reason to do so passively? I am not saying you have to be hands on. I am just wondering what you are thinking.

    If you are pretty new to the UK, it might be difficult to judge the market and who you should be working with. Did you invest in another country so have some experience in a different market? Not required. Just trying to understand a bit more.
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    John Corey 


    I host the London Real Estate Meet on the 2nd Tuesday of every month since 2005. If you have never been before, email me for the 'new visitor' link.

    PropertyFortress.com/Events

    Also happy to chat on the phone. Pay It Forward; my way of giving back through sharing. Click on the link: PropertyFortress.com/Ask-John to book a time. I will call you at the time you selected. Nothing to buy. Just be prepared with your questions so we can use the 20 minutes wisely.

    Thank you for your comments and your interest.
    Well, we are trying to learn about UK market and we thought these "hands free, ready made" packages could be a good way to start. Another important detail: investing in Real Estate is not our full time activity, so we do appreciate a little help as our daily spare time is scarce.
    We own properties overseas and we have a team managing them. They also keep us upated about other good opportunities. We would like to create a similar team in the UK.
    Kind regards,

    Carolina

    (16-07-2012 09:09 PM)john_corey Wrote:  
    (16-07-2012 08:02 PM)Mcgs Wrote:  Hello!

    I am a new member, actually quite new in England and I would like to ask about Newbrick consultants based in St Albans, Hertfordshire. Have you heard of them, or perhaps worked with them? I found their add in YP and it looks interesting as well as their possible deals. Looking forward to hearing your comments. Kind regards. C

    What are you thinking?

    What would you like to do in terms of investing? Is there a reason to do so passively? I am not saying you have to be hands on. I am just wondering what you are thinking.

    If you are pretty new to the UK, it might be difficult to judge the market and who you should be working with. Did you invest in another country so have some experience in a different market? Not required. Just trying to understand a bit more.
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    Caroline,

    Based on ancidotal evidence, the "hands free, ready made" packages are a slippery slope. I am not saying that all such packages are a problem. Here is the key to the problem. People with limited time and knowledge are attracted to the company or person who offers a package deal. They do not have the skills necessary to really understand the subtle details.

    Property investors tend to be optimistic and some of the promoters believe their own BS. When things do not go exactly as planned they start to co-mingle money or they do other things that digs a deeper hole. Sooner or later the words gets out that they can not deliver and everything starts to blow up.

    Part of the problem is when people offer 'guarantees' on BMV discounts, the ability to refinance, gross yield targets and similar headlines to attract the punters. Some of these are rather subjective or are easy to manipulate if there is an incentive to do so. As the promoters are rewarded for unloading the deals to the passive investors, the model si designed to create problems.

    The best way to deal with the lack of knowledge is to move slower.

    You could buy a packaged deal and be successful. If it goes wrong you will have a large loss. It would be a bit better to minimize the potential size of any loss in the early stages when you just do not have the ability to spot the problems. Spend a bit more time learning the details before starting.

    How do you go slow and still make progress? That is a problem as someone who has limited time will feel the pressure of not making progress.

    At least you own some other property so you have some sense of what could happen. Granted, how investing works in the other country might lead to misunderstandings about the UK market.

    If you do not mind, tell us more about what you want to accomplish here in the forum. Stick to what you are comfortable sharing as it will be visible for a long time to come.

    I and others are available to meet. Some of the time it makes sense to find an evening meeting where a number of PT members and others will be gathering. Other times it just makes senses to meet for a coffee/tea, a drink or a meal. You can learn a lot when you get started by having some focused conversations.

    The money will be just fine in the bank while you find your feet. There is no rush to invest. Once you have some UK real estate grounding you can then pick how to start. If you pick a package seller, you can conduct better due diligence and have a better ability to monitor the process.
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    John Corey 


    I host the London Real Estate Meet on the 2nd Tuesday of every month since 2005. If you have never been before, email me for the 'new visitor' link.

    PropertyFortress.com/Events

    Also happy to chat on the phone. Pay It Forward; my way of giving back through sharing. Click on the link: PropertyFortress.com/Ask-John to book a time. I will call you at the time you selected. Nothing to buy. Just be prepared with your questions so we can use the 20 minutes wisely.

    Hi, be very careful with these guys, they come across well and make promises but do not deliver.

    I made the mistake of giving them the initial £1000 deposit after they advised me i could get a property. Once i paid the deposit they told me it was not possible to finance the purchase so i requested my "refundable deposit" back, it has not been 6 weeks and after many phonecalls, emails and promises of them returning my deposit i still do not have it back!!..I am now looking to take them to court as they have still not returned the deposit.

    BE VERY CAREFUL and dont make the same mistake i did by giving them an upfront deposit... hope this helpss..

    'Mcgs' pid='77272' datel Wrote:Hello! I am a new member, actually quite new in England and I would like to ask about Newbrick consultants based in St Albans, Hertfordshire. Have you heard of them, or perhaps worked with them? I found their add in YP and it looks interesting as well as their possible deals. Looking forward to hearing your comments. Kind regards. C

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    Tahir b,


    just wondering if you have got your deposit back yet??

    Has anyone else had any dealings with this company??

    Many thanks
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    Hi guys,

    I am a representative from Newbrick and if I may I would like to provide a response to Tahir’s comments as, with any situation, having only one side of the story does unfortunately provide a rather skewed perspective. Please rest assured that he did indeed receive his full deposit back last year and as far as we were concerned the matter was resolved amicably.

    Due to the nature of our service and the industry, unfortunately some elements will always be out of our control. This is particularly true with regards to the finance side of things and in the current economic climate even a good credit report and high income cannot always guarantee you will get mortgage lending.

    It is a shame that Tahir did not update his post regarding the eventual outcome of the situation and it saddens us to see that a potential client was not entirely happy with the service we provided. We do in fact have a long list of very happy, repeating clients who I am sure would be glad to provide a reference for anyone looking to invest.

    If anyone would like any further information regarding the service we provide then I would be more than happy to talk to you. All of our details can be found on the Newbrick Consultants website.

    Louis
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    Hi Louis,

    Thanks for joining the conversation and glad to hear that Tahir got his reservation fee back.

    Can you confirm whether Newbricks is registered with an Ombudsman Scheme?
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    I have recently used Newbricks and despite a good start, I have had a time consuming and costly experience.

    I wrote a review on Trustpilot highlighting this and am now being threatened with legal action by Newbrick unless I amend my review.

    https://uk.trustpilot.com/review/newbrick...00029eb964

    Hopefully my mistake in using them will save a few others the difficulties I've encountered.
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