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helenreed

Ajay - Repo Hunter

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In todays Mail on Sunday:

"The get-rich-quick property guru who tried to cash in on the misery of Northern Rock borrowers whose homes had been repossessed, has himself had a visit from the bailiffs as furious investors try to claw back thousands of pounds in fees for deals that never materialised.

Last month, debt collectors seized a £30,000 BMW from the drive of Ajay Ahuja's home after he failed to repay £3,000 to a client who discovered that the buy-to-let house he was trying to sell her for £100,000 was worth just £72,500. On top of that, the long-term tenants who were said to be paying £1,700 a month had long since left.

As a growing number of Ahuja's clients have discovered, many of the deals he promoted are an illusion. 'He offered me a house in Stoke-on-Trent that he said was worth £100,000 and had long-term tenants paying a monthly rent of £1,700,' says Kate Sylvester, from Maidenhead, Berkshire. 'I paid him a £3,000 finder's fee, but our lender valued it at £72,500 and although a second surveyor said £80,000, we then discovered the tenants had left without paying the rent.'

Sylvester sued him in the small claims court for £5,000, which included wasted legal fees and surveyor's costs. Ahuja did not attend the hearing and Sylvester won the case, but when he failed to pay she hired Paul Shamplina, of Landlord Action, a firm that specialises in recovering unpaid rent but now acts for property investors chasing other debts, to get her cash back.

After his requests were ignored, Shamplina sent in bailiffs who seized a BMW 7 series form the drive of his six-bedroomed house the the Cambridgeshire town of March.

'In the end he had to pay £7,5000 to get the car back,' says Shamplina who says he receives two calls a day from clients of Ahuja and similar property-sourcing firms.

'I have just served papers demanding £25,000 on behalf of one client, and if it isn't paid by the middle of August we're going to court,' says Shamplina. John Standring from Halifax, West Yorkshire, paid Ahuja £25,000 for finding him 17 houses in Buffalo, upstate New York.

Ahuja refused to discuss individual clients, but said his role was only to find properties, not arrange mortgages. 'When we introduce a property to a client they have to make every effort to purchase because if they don't they will ruin the relationship we have built up with our contacts, he says."

It's not all bad news!

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In todays Mail on Sunday:

"The get-rich-quick property guru who tried to cash in on the misery of Northern Rock borrowers whose homes had been repossessed, has himself had a visit from the bailiffs as furious investors try to claw back thousands of pounds in fees for deals that never materialised.

Last month, debt collectors seized a £30,000 BMW from the drive of Ajay Ahuja's home after he failed to repay £3,000 to a client who discovered that the buy-to-let house he was trying to sell her for £100,000 was worth just £72,500. On top of that, the long-term tenants who were said to be paying £1,700 a month had long since left.

As a growing number of Ahuja's clients have discovered, many of the deals he promoted are an illusion. 'He offered me a house in Stoke-on-Trent that he said was worth £100,000 and had long-term tenants paying a monthly rent of £1,700,' says Kate Sylvester, from Maidenhead, Berkshire. 'I paid him a £3,000 finder's fee, but our lender valued it at £72,500 and although a second surveyor said £80,000, we then discovered the tenants had left without paying the rent.'

Sylvester sued him in the small claims court for £5,000, which included wasted legal fees and surveyor's costs. Ahuja did not attend the hearing and Sylvester won the case, but when he failed to pay she hired Paul Shamplina, of Landlord Action, a firm that specialises in recovering unpaid rent but now acts for property investors chasing other debts, to get her cash back.

After his requests were ignored, Shamplina sent in bailiffs who seized a BMW 7 series form the drive of his six-bedroomed house the the Cambridgeshire town of March.

'In the end he had to pay £7,5000 to get the car back,' says Shamplina who says he receives two calls a day from clients of Ahuja and similar property-sourcing firms.

'I have just served papers demanding £25,000 on behalf of one client, and if it isn't paid by the middle of August we're going to court,' says Shamplina. John Standring from Halifax, West Yorkshire, paid Ahuja £25,000 for finding him 17 houses in Buffalo, upstate New York.

Ahuja refused to discuss individual clients, but said his role was only to find properties, not arrange mortgages. 'When we introduce a property to a client they have to make every effort to purchase because if they don't they will ruin the relationship we have built up with our contacts, he says."

It's not all bad news!

Was there a radioactive macguffin in the boot?

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From the bottom of my heart, THANKYOU helenreed for posting that.

That has SOOOOO made my day. :lol::lol::lol::lol::lol::lol:

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John Standring from Halifax, West Yorkshire, paid Ahuja £25,000 for finding him 17 houses in Buffalo, upstate New York.

Speechless.

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John Standring from Halifax, West Yorkshire, paid Ahuja £25,000 for finding him 17 houses in Buffalo, upstate New York.

What the ******.

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I wish his failure to pay his debts was due to a lack of cash and an imploding business. Sadly I fear it is more likely to be due to the fact that he is a c**t.

Edited by Hip to be bear

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Buffalo is like Detroit. A complete shitheap and very dangerous for the small population that lives there, even more dangerous than Detroit in fact. I used to live north of there in Toronto and avoided stopping in Buffalo when I used to go visit the nicer states.

Crime_in_Buffalo.jpg

post-15349-1248600179_thumb.jpg

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Hey you go to beleive me when I tell you this that you can but 17 houses for 25k, especially the abandoned ones that AJay would have put him into.

And apparently you can buy Detroit for £25k! (well 25k Euros)

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And they let this bloke advertise on here! :o

Get adblock plus add on for firefox, no more stupid adverts ((((hugs))))

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Mike - no link that is why I typed the thing. It is in the MoS 2 section.

I don't think the £25,000 was for the total cost of the 17 Buffalo properties. I assume that it was Ajay's 'finder's fee' and the chap was then expected to take out mortgages on the properties. The chap then could not get anyone to lend him the money so he effectively 'gave' Ajay £25,000 for nothing. Realistically losing £25,000 is peanuts compared to what he would have lost had he actually got the mortgages and 'bought' them. Why on earth would anyone would do this is beyond me. I don't understand why people who obviously have already bought their own house would then pay somebody to find property. Surely (especially with the internet) you can find your own property if you want to. I ain't difficult.

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They buy in Buffalo for the yield,50% is common),but in reality they never achieve it. The locals do achieve it and in my opinion the only way it will work is if you live up there.

Many bird dogs are creating problems up there, the place has such a bad name for shonky real estate that it is surprising anyone still does buy.

A good (ajay is not) property finder "bird dog" can provide a very valuable service for that old cliche "Money Rich Time Poor" investors. On high end properties if someone can source a deal 25% below then that may well be worth it. Or you may have a city kid that wants to buy cash flow properties in far away areas in that case a bird dog is a useful service.

Birddogs?....how about estate agents'.....

some twit on R4 yesterday ( a high class bird dog) says hes not in the same league as the estate agents...he deals in information, hes more like an investment banker.

puts buyers with sellers he says.

clever guy.

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'He offered me a house in Stoke-on-Trent that he said was worth £100,000 and had long-term tenants paying a monthly rent of £1,700,' says Kate Sylvester, from Maidenhead, Berkshire. 'I paid him a £3,000 finder's fee

These people are just pathetic.

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These people are just pathetic.

ajay knows one thing.. a fool and his/her money are easily parted.

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