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It has been brought to my attention that Paul Smith has commercially separated as a trainer and mentor from the Progressive Property Network.Property Tribes has contacted Progressive Property for confirmation and Rob Moore confirmed that they had commercially separated. A full statement from Rob and Mark of Progressive appears later in this thread.I have long expressed concerns over the activities of Paul Smith and his claimed wealth and success and I will be writing a more detailed post in due course. Things are moving along in such a way that I can now be more direct about my concerns, not just allude to them.This is the second exit of a high profile trainer following the Mark I'Anson debacle.The relationship between Progressive and Paul Smith has never been clear to my mind. He seemed a loose cannon to me. He has done Progressive no favours on social media with his attitude and his refusal to be transparent about various issues.However, he has been offering his own training via Touchstone Education for a while now.Paul Smith's biog is still on the Progressive website along with a video where he appears to be interviewed as a successful mentee:"Paul has worked for blue chip companies at board level for over 20 years. Roles included Ford Motor Company, Coca Cola Schweppes and Whitbread. He has a BSc (Hons) in Engineering and an MBA.During this time Paul moved house following promotion 10 times.At the turn of the millennium in the year 2000 Paul moved to Scotland for a new start in almost every way. Paul moved to be Managing Director of Allied Distillers based in Dumbarton. A huge job, lots of employees, sites and turnover in excess of £1 billion.In 2004 he was made redundant as a result of a takeover.He wanted family roots and the security that no job working for others can ever afford.For the last 10 years he has run his own successful businesses, with his wife Aniko. During this time they have not moved house, raised 6 wonderful children (Plus now the first Grandchild!) and enjoyed true financial stability.Paul is a JV partner with Rob and Mark, founders of Progressive Property, delivering Progressive training events both in Peterborough and Scotland.Aniko also had a very senior blue chip career working with Procter and Gamble and Allied Domecq before moving to Scotland to join Allied Distillers. Aniko is a Degree qualified Accountant.Aniko was also made redundant on the same day in 2004 due to the same takeover.Together Paul and Aniko have been investing seriously in property since 2004. They now have a property portfolio worth in excess of £3m. This includes residential single lets, multi-lets and commercial property.They specialise in raising JV finance, deep BMV purchases, adding value by refurbishment, title splitting, utilising SIPP funds and commercial conversions. More recently they now manage properties they source and project manage for their investors, allowing a true turn-key service for remote or “armchair” investors".
[VIDEO REMOVED FROM THE PROGRESSIVE YOUTUBE CHANNEL SO NO LONGER AVAILABLE]
In recent times, Paul Smith set himself up as an expert on serviced accommodation and makes many claims in this video on Progressive's website:
However, two years on from when he recorded this video and one year on from when the above claim of £100K income per month was made, his most recent accounts tell a rather different story:
Paul Smith has also launched a crowdfunding company, raising money from investors for development projects.In the video with Rob Moore above from 2014, he claims he had raised nearly £1million in JV finance. Much of this will have been from within the Progressive network. Three years on, I would imagine that figure is a lot more, if you believed him in the first place.
[VIDEO REMOVED FROM THE PROGRESSIVE YOUTUBE CHANNEL SO NO LONGER AVAILABLE]I think it would be fair to suggest that his association and backing by Progressive gave him instant credibility and social proof.
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**
I have received the following interim statement from Progressive:""We will be going through all our websites & updating information. If people have links or pages then please let us know. We are also separating out PPNs & our things in Scotland as we speak. Any affected parties or anyone wanting any help can message me on rob.moore(at)progressiveproperty.co.uk. We will also consider any replies we may need to make in time and will watch the thread".
Are we expecting more? All I see above is he's been sacked by one training company but has his own. Though we think he may like to exaggerate his success.I don't know the guy. Is he the same one doing Serviced Accommodation at Property Investor show at London Excel last week?
_________________________________________________________________________The above post is not financial advice, its often me rambling - passing time on a coffee break.If you are looking for the Best BTL Mortgage? Call the Specialist Team at Bespoke Finance._________________________________________________________________________
Hi Adam,Yes, he was at the PI Show as were many other wealth creation gurus.I was actually hosting the SA panel debate, but he was not on the panel.With regards to what will come later, the last four sentences of my original post should give you an inkling.
I don't like the guru as always felt they were too good, and in these times of the PRA and S24 I think these gurus easily show their holes. Not one of them to my knowledge addresses the real side of property, I.E the above mentions PRA rules and S24 etc. They seem to shy away.
I felt compelled to post on Paul Smith's facebook page tonight to give a reality check and my comment was deleted. However, suspecting that it would be, I took a screen shot. I will post it here to keep a record of his activities as the story unfolds.It is interesting that Paul Smith did not take the opportunity to tell me otherwise that PP have cut him loose and just deleted my comment. He also failed to mention that the Saturday event that he was cancelled off was Progressive Property MSOPI weekend!
Haha, love it when you call these self appreciating gurus out Vanessa. Keep up the good work!
That post (Smith's) is toe curling, it makes me almost feel embarrassed for the man; who does he think he is, the risen Christ! It makes me despair that anyone can be sucked in by this sort of thing.
What a wonderful moving story, I bet he charged £8.97 for the directions though.
Vanessa You are entirely correct I don't see how this part of the story can be correct having been there myself that day??
The best way to property riches is to become a builder
Those are the skills needed.
Once achieved there is nothing you can't achieve in property
You are your own property driver utilising rare skill sets
As a builder you can forcibly appreciate your skills to create wealth.
Becoming a skilled builder requires a long apprenticeship.
But you could easily become a large LL and give up the building game early!