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  • Property-a-holics

    Property Development Profits - Addison couple

    Hi Guys,

    anyone heard about these guys before?  Tim & Vanessa Addison of Property Developer Profits.

    http://www.propertydeveloperprofits.co.uk/

    Any personal experiences?

    They have a very dodgy (IM like) sales funnel and webdite, some really cringe worthy videos but some good ones as well. Until our very own Nicole Bremner does not start a mentoring (what I would love to see Smile), would it be a good idea? although the marketing emails they send are pretty terrible (sounds like a Clickbank product promo)

    Generally speaking, I wanna pursue this area of the property game but there are some concerning factors on this field (GPC for a start, then PM was also advising on this field) Anyone else to recommend? (property development, land, consents, house to flats conversion, etc)

    Thanks much for any inputs,

    Pete

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    Hi Pete,

    Funny you should mention them.  They have popped out of nowhere and now saturating everywhere with their marketing.

    It's a new venture. I checked their training company at Companies House and it had not filed any accounts.

    It's also cookie cutter marketing - using all the usual methods and big claims.

    See - Buying property with none of your own money 

    Whether they are legit or not, I have no idea.  But do note that they are using the marketing tactics of guru-ism.  That is enough to put me off, because it puts them operating in the same space as the others. even if they are "different".

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    As part of DD, it is easy enough to check out their other companies too

    https://beta.companieshouse.gov.uk/offic...pointments

    https://beta.companieshouse.gov.uk/offic...pointments

    Green Bee Homes seems to be where their development to date has mainly been done (at a guess)

    https://beta.companieshouse.gov.uk/compa...ng-history


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    Pipplman, I hope you don't mind me asking you a question as it's not directly related to the topic of this thread.

    I did some (shamefully belated) DD on a developer company that I invested in a few years ago (offplan flat).  One of the Directors, who is named as Managing Director for this particular company, has an astonishing number of directorships in past companies.  For some of them, he was appointed Director one day, and resigned the next.  Common sense tells me that this seems somewhat dodgy, but is it really?  There is quite possibly something I'm missing :-)  Thanks.

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    It is hard to make any judgment without seeing a specific example

    But, in general terms, I agree with your common sense judgment that it does look somewhat dodgy

    That said, I am sure there are situations where it isn't dodgy in the slightest


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    That company is only 3 years old.  In property, that is a blink of an eye, imho.

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    Some more insights ...

    From their website:



    A snapshot of their company financials:



    Article in the local paper:

    Bournemouth-based entrepreneur and stay-at-home mum, Vanessa Addison, celebrates finding her 40th development site in the area as part of her dynamic property development company, Green Bee Homes Limited.  The business was formed 3 years ago as a result of a school run where Vanessa, who is profoundly deaf, spotted an ideal plot of land for development, and is now set to turnover £3 million this year.

    Green Bee Homes' 40th development site is based in Granby Road, Muscliff and will consist of 2 new-build bungalows as well as an existing bungalow.  In addition to this site, Vanessa is working on 10 new-build houses, 4 flats and has 14 plots of land in various stages of planning this year alone.

    Full/source story

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    .....but can still find time to deliver training courses

    I expect that the training probably does have some value, especially to newbies.

    I would have some concerns if the training was being used as part of a funnel towards JV / Investing / Lending.  That is where the money is and, as history shows, that can be where investors lose out.

    Not saying that is what is going on here, but for people going on the training courses, any 'opportunity' to JV / invest / lend that arises as a result of the course should be approached with eyes very wide open imo.

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    My thoughts exactly JP.  The same business model as Glenn Armstrong, Susannah Cole, and others ...

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    Really, is there anything novices can get from these things (bootcamps in this case), that they can't get through their own research and membership of forums such as PT?  I'm a complete novice but I wouldn't touch them.

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