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  • Landlords in Distress

    Samuel Leeds: my story of partnering with him

    (*Moderator note: Title changed*).

    Myself and a couple of other members of his first course “Partnership with Samuel Leeds” have a major problem with the way he’s treated us and what he has promised and did not deliver on his course. We tried to talk to him about it, but basically we could not get him to recognise there were issues. .

    Since May( 2018) we have tried to get our money back from Samuel Leeds, first of all letters trying to be civil, polite and well meaning say it didn’t work out, you did not deliver on what you promised, please return our money, that you had promised you would if "course did not produce more than it cost".

    You get ignored - all you get is one of SL's minions to reply, i.e his so called HR man Chris the builder to write back saying you can’t have your money back.

    Alternatively they play dumb and pretend to not know what you are talking about or if that does not get rid of you, use threatening behaviour saying that he will sue you if you say anything online.

    We decided to get a solicitor to push him legally to return our money, which as yet has not got very far as the first solicitor that we asked to look at our case wasted our time, looking over files/evidence over two months pulled out two weeks after we sent us a later using he’s will have a claims letter ready for us that coming friday.

    That day came and went, only after we pushed for answers two week later he sent a short email saying that we should find someone else to pursue the case and he would return money.

    After total dismay I found another solicitor recommended by a colleague in the pin group that i am a member of. 

    After a good chat with him about the situation, a week later his colleague wrote us an email after i provided file/evidence about that case regarding there their Ts and Cs and a request for a client account sum of £5K.  You should not have to go to these lengths and costs to get a situation to a amicable conclusion.

    This whole situation leaves me with a very serious and very stressful situation.

    I am facing financial ruin as my claim against Samuel Leeds is about £22K.   I am in about the same amount of debt because of his action and behaviours, but more then that has actions have damaged us, my wife and I enormously. 

    I am suffering from long term exposure to high stress, but more importantly its my wife and son that are and will suffer. Ghosts from my wife's past have re-emerged, serious ones, and she has had to go back to therapy to help with this.

    We cannot afford to send our boy to nursery now.

    These are in no small part because of Samuel Leeds' actions as the original aim was I would produce income from sourcing and selling properties which would replace my wife's income as a school teacher so that she could give birth to our first child a baby boy, which i might add SL knew we were having. She could have a longer maternity period - the whole year - before she had to return to work.

    What has happened in reality is, because of Samuel's actions, and delays, my son is now nearly 11 months old and my wife had to return to work this last September full time because we need the money.

    My debts continue to mount, I now have to look after my son full time as we can't afford child care/nursery costs this early on.

    I am constantly worried about the mental heath of my wife as she now has the stress of her work, that she should not even be at.  Only this last weekend (24/25 Nov18) she said that she has 5 ulcers in her mouth, and this morning she text me, “I feel like i’m going to explode with stress, ahhhhh”.

    Over the course - which incidentally was 11 months not the 12 that it was supposed to be -  In that time of working with Samuel Leeds directly I made him £31K+VAT not including the advertising/marketing he used me for.  I only made £1,600!!!!  Hardly a partnership? My claims are not excessive or any great stretch for him as he has publicly stated he makes £250K a month.

    One would hope that this is an clerical oversight on his part as, being a chairman of a group of allegedly successful companies, I am sure he’s a busy man, not to mention a Christian one as per all his youtube videos and talks claiming good works and a charitable outlook.

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    How much did you invest in this property course?

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    £2K on the initial course that you had to do to before your could do the partnership course and that course was £14K - £16K in just course fees, not taking into account other costs like travel expenses etc.

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    What lessons have you learned from this?

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    Not all claims are accurate. There is a portion of society that is not to be trusted. Despite being a person that believes that there is good in everyone. some are just bad apples.

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    Should the lessons not be:

    1/ Carry out due diligence

    2/ Don't speculate with money you can't afford to lose

    3/ Live within your means and don't take out unsecured debt

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    How has Samuel Leeds failed you? Were you promised mentoring or help with projects or something that never happened? Im sorry this has happened to you. I just wanted to know the details because maybe my solicitor could offer some advice, she is a member of my family.

    I hope things work out ok for you. Sometimes these so called "property gurus" are not all they're cracked up to be.

    Cheers

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    if you have the time or maybe you've one of the 124K+ people that have read the other thread on Mr Leeds."Samuel Leeds property entrepreneur",

    https://www.propertytribes.com/samuel-le...29986.html

    But basically I did his "partnership" course which was the precursor to his academy course that he is doing now.

    The course was very badly put together.   What we received was not was not what was pitched/sold to us.

    In the end it turned in to a £1000 a day pin meeting that you usually pay £20 night for. He also went on paternity leave three months in for about five months, which left us with his estate agent and his friend, not the insights from the allegedly successful property entrepreneur we had paid for.

    His money back guarantee currently does not stand for much. There is a list as long as my arm of what went went wrong but SL does not what to put his hands up and say "ops ok so it didn't work out sorry", instead he gets very aggressive and threatening.

    He claims he can sue you for defamation of character when all you have done is talk about your first hand experience that you can evidence, so not defamatory!

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    Hi Kryan,

    I am sorry to hear of your plight and in particular the impact this has had on your family's health.  These kind of situations not only impact financial health, but also your mental health and wellbeing and the toll can be considerable and in some ways more damaging than the financial loss.

    What would you like Samuel Leeds to do to resolve this with you?  Do you have a solution or sum of money in mind that would assist you in moving on from this and put you back on track?

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    Hello Vanessa

    Thank you for your thoughts, you are right the impact is much more then just money, the money just adds extra weight/stress that is not need.

    I know its effecting me more then i realise. I know this as i can get easily frustrated and do not cope very well with simple situation that i should not get wound up by, especially as i have to look after my baby boy all day and its not his fault. It makes me said and upset that he should not get a stressed dad looking after him. But my bucket is full, despite my best efforts to try and empty out a bit.

    The money mentioned is just basic debts and that is probably out of date and more then that, but I get even more stress when I review the level of debt so i don't do it that reconciliation too often as I know as the moment I don't have any way of paying it off.

    I do know what sort of money would resolve this but as you said its more then just money, as stress takes time to dissipate,  plus to change/resolve my wife's stress would have a significant impact of the equation.

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    I believe we will start to see more and more stories like this come to light both from other ‘Partners and Academy members’ and also property investors buying through his sourcing businesses which focus on packaging deals of 4 Bedroom houses converting into 5 Bedroom HMO's.

    BuyLowRentHigh Ltd his original sourcing business now, redirects to Better Sourced Ltd which he set up with Alasdair Cunningham.

     Where deals are sold like this

    Property 1 - 4 Bed multi-let. Doncaster. £98.000

    • Property in great location, close to city centre
    • Achievable rent £1350 pm
    • Needs paint & decoration estimated at £2500
    • Recent new kitchen & bathroom
    • Conversion for fire safety estimated at £4000
    • Great HMO manager with connections to many larger employers
    • Finders fee £2500

    Investors are then finding themselves in situations like this (Recent post taken from Property Investors with Samuel Leeds, Facebook Group)

    Tony Bennett

    23 November at 07:34

    Advice needed....I bought my first house in Doncaster through Samuel & Co last August 2017 to convert to a HMO. The house is a lovely big Victorianhouse 10 minutes drive from the city and 5 mins walk to a train station, so very happy with the purchase.

    I loaned my new company £45k, converted to a 5 bed HMO and it's only just breaking even; in fact it's losing money as the business owes me expenses as well as the £45k I expect to recoup over the next 10 years.

    I took the advice that tenants prefer super fast broadband over an on-suite to heart as such there's only 1 on-suite and 1 bathroom. The 5th bedroom has never been let even after the second management agent ( I had to sack the first agent after 6 months due to professionally negligence ) suggested letting as a SA but have done nothing to commit to that option 3 months ago.

    The house can be converted to a 6 bed for c.£3.5k to include a wet room conversation; the local council have pre-approved this.

    I have several options, and selling isn't one of them.

    I could spend c.£18k to convert to a 6 bed and install on-suites to the remaining bedrooms.

    I could let to a professional R2R, local council initiative or homeless charity.

    I could let the current management agents go and source another in a hope that they can manage the property and tenants more efficiently. (I have asked Alistair for advice on local HMO management but no response to date).

    I could manage myself and change to 6 SA however I manage 8 other single family BTL properties which I own and rent-a-room in my own house.

    Positive constructive advise requested please folks.

    Another member commented:

    Gregor Pirie I think I am in a similar position with my first HMO.

    Rather than shy away Samuel commented on the thread and subsequently made a video Today I had an UNHAPPY CUSTOMER

    https://www.facebook.com/groups/778613042...522224912/

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