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  • Entrepreneurs

    Property guru being bankrupted by P2P lender

    His Showreel on YouTube named "DEADER THAN DISCO" is particularly distasteful too.......

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    Yes, advice to anyone that watches it, be sure to turn the sound down to avoid potential embarrassment as the language is of an extreme sexual nature and the content is perverted!!!! Smile  The individual concerned gets to act out their God complex and fantasies of being a film star.

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     Vanessa, I have always enjoyed your reporting, and also, being a member of the Tribe, but I feel let down by this piece.  I don’t know this guy from Adam, but the story above is biased and not objective, starting with “In a truly bizarre video...” etc. Even inferring that he is lying by saying his mother will be homeless, when in fact, he says the opposite.  He says his mother is secure, as he is because of something else he has done that protects his money from “f****g banks”.

    More to the point, rather than ridiculing this guy, I would have thought that that it would be useful to other Tribe members to experience, albeit, second-hand, what some of the pitfalls of bridging finance is.  Also, to highlight the associated costs you can incur when things go wrong.

    Further, I can’t see any reason why full names couldn’t have been given in a safe and responsible manner e.g... “We today came across a video where X is claiming that LI, a bank, has treated him unfairly in their dealings.  LI, it seems (and understably) disagrees.  We don’t know who is right, and remain impartial in this matter and are simply reporting a video that property investors might learn a thing, or two from, if only to understand what banks owe you when they instruct a Surveyor to value a property for the purposes of lending - in our view, very little!”, or similar, perhaps after reaching out to LI for its comments.  If they just send back a threat, then publish the story with the threat.

    Clearly, I don’t know what went on between them, or what they agreed or didn’t agree, but I shall look forward to reading the pleadings, particularly LI’s defence, because only then will I be able to form a view, but I think it is important enough for people to know about, without feeling threatened by phantom legal action.  You can’t get sued for telling the truth (that there is a video that alleges xxx, as opposed to saying that LI did xxx).

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    I am sorry you feel let down by the article.  I reported what I saw very carefully but it is my opinion that it is bizarre.  The video is called "The bank that makes mother's homeless" and this has been evidenced on this thread and screenshot below:



    With respect, we have huge amounts of content on bridging finance and the pitfalls, including an exclusive video just last week.

    Getting the most out of bridging finance 

    If you are looking for that information, then you will find it in the "Mortgages/Finance" Tribe.

    The individual concerned has been running various crypto-currency schemes (which he claims were backed by his personal property portfolio)  that have left many investors dissatisfied and he is being chased all over the world by unhappy investors.  Now he is being chased by a bank who can take action against him and confiscate his properties.  That is why this story if of interest and there are a number of lessons to be taken from it.

    Our policy is to let people make up their own minds - whether they take away the dangers of lending to developers via P2P lending, or gain insights into the individual concerned ... or something else.

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    ...thanks Vanessa.  He sounds ‘colourful’, for sure, and I wouldn’t do what he’s doing, but still can’t help but think “there but for the Grace of God go I”, and maybe that is why I wished the reporting had been a tad more neutral, but I’m still a fan Smile

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