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NGU Property investments, NGU Group, 469-471 Durham Road, Gateshead, NE9 5EX
Hi, has any body bought any Lease Option deal and/or BMV property from the NGU Property investments, NGU Group, 469-471 Durham Road, Gateshead, NE9 5EX?
They offer complete package of sourcing, and doing the rest of refurb to letting and managhing for you. All you have to be is an armchair investor with the money. That is it, they say.
If anybody has bought any deals from them, I would highly appreciate a feedback, as I am considering using them. I have just signed up to be in their database of investors to receive alerts of any such opportunity.
Any information and/or experience of anyone would be highly appreciated.
Muhammad A Rahman
Hi Muhammad,Welcome to Property Tribes.Just a general comment - rather than specifically on this company - the best person to spend your hard-earned cash or child's inheritance is the person you see in the mirror each morning.I personally loathe the "armchair investor" concept, and regard it very high risk to enter into such a programme. I expressed why here:Is there any such thing as an armchair investor , and, if there was, would you want to be one?Property is relatively simply and I can not think of any reason why you can't do it yourself by educating yourself.Here is my guide:How to get started in BTL in 10 easy steps.Follow that carefully. Do not skip any steps, and you won't go far wrong.If you must go down the armchair investor route, DO NOT pay any large fees upfront. Pay for results, not promises.I would also be very wary of entering into a lease option. They work well for commercial property, but are fraught with pitfalls in residential.This and other forums are littered with stories of people who have lost life-changing amount of money through believing in armchair investor programmes. This area of the industry is entirely unregulated, and, if it goes wrong, you have no route of redress.Hope that helps?
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**
Thank you very much for raising the potential dangers about being an armchair investor, particularly if it is Lease Option deal.
In fact I was not thinking of acting as a totally hands off investor. I primarily thought of using them just as a Lease Option sourcer. Then I noted from their aggressive marketing portal that they not only can source it for me, but also do follow up things as well, such as doing the refurbishment if required, getting the property rent-ready, get the tenants, and let and manage it for me. This is what they said they can do for the investor. A complete service to generate positive cashflow for the investor.
They send alert of such property opportunities to signed up investors. Then you can get it on first come first serve basis, they say. It is not clear how they want their sourcing fee: all of it up front or there is a structured payment system. I would know it in due course.
I would do all the necessary due diligence, such as check comparable prices on Zoopla, Right Move, visit the property, assess first hand the actual costing for the refurbishment if such is required, see the legal document myself plus my solicitor etc. But I am also aware of horror stories of such companies, some stories appeared in some threads of Property Tribe as well as some Facebook closed group of investors.
That is why I wanted to hear any body had any instance of pleasant or bitter experience of dealing with them.
I thank you again for your quick and informative reply.
29yrs experiencein finance 13 yes experience in btl
I own 32 properties.(*Moderator note: Rest of comment removed*).
I am sorry to be replying late.
I am not considering any joint venture partnership at this particular point of time. However in the very near future I will be exploring that option. I shall contact you then.
did you do buisness with this company NGU in the end ? If so what was your experience ?