interestrateripoff Posted February 5, 2014 Share Posted February 5, 2014 http://www.dailymail.co.uk/money/mortgageshome/article-2551782/Raj-says-make-property-millionaire-hand-10-000-Do-believe-him.html A wodge of crisp new £20 notes has just been thrust into my hand. The man who’s pulled them from his leather wallet is dressed in a sharp black suit with silk lapels.‘Count them,’ he says. There’s £100. He leans in conspiratorially and asks: ‘If someone gives you free money, why would you refuse them? It’s a no-brainer. The only thing holding you back is fear. It’s not luck. Luck just means seizing opportunities when they come to you.’ This is Raj Shastri and, as he has mentioned several times already, he is a property millionaire. And — as he has also just been telling me and the 100 other audience members gathered in the conference room of a plush London hotel — he thinks we can all become one, too. It is as if the credit crunch never happened. Britain’s property market is booming again. It is great news for homebuyers, but it also means the return of people hoping to make a fast buck from soaring prices. Greed is back. I’ve come to this free, one-day seminar after an advert in a newspaper caught my eye. ‘Ever wanted to get into property investing but didn’t know where to start?’ it says. ‘Then this seminar is for you.’ It promises that ‘Mr Tax will save you ££££s’, a master mortgage broker will secure you the funds to get started, and you’ll be able to meet a man who started with less than £9,900 and built a huge portfolio in 60 months. Sure enough, over three hours, the message is hammered home that having barely a bean to our names is no barrier to building our own property empires. This time next year Rodders, this time next year. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted February 5, 2014 Author Share Posted February 5, 2014 I wonder about how much time it takes to run a successful rental firm and look after your tenants. But Raj says all you need is five minutes to check the rent goes into your bank account each month. Missed off this top tip. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted February 5, 2014 Share Posted February 5, 2014 I can make myself a cash millionaire if I can find 100 mugs to hand me £10,0000 each. Quote Link to comment Share on other sites More sharing options...
erat_forte Posted February 5, 2014 Share Posted February 5, 2014 I can make myself a cash millionaire if I can find 100 mugs to hand me £10,0000 each. I like the way you sneaked that extra nought in, I'm sure few of the punters will notice when they sign up! Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted February 5, 2014 Share Posted February 5, 2014 I like the way you sneaked that extra nought in, I'm sure few of the punters will notice when they sign up! I should work at a bank. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted February 5, 2014 Share Posted February 5, 2014 He is so successful he is still flogging his guts out selling free money for no effort. This guy will be familiar to regular HPC readers. Quote Link to comment Share on other sites More sharing options...
Tonkers Posted February 5, 2014 Share Posted February 5, 2014 This has to be the. Smart in the coal mine, right? Quote Link to comment Share on other sites More sharing options...
Tonkers Posted February 5, 2014 Share Posted February 5, 2014 This has to be the canary in the coal mine, right? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted February 5, 2014 Share Posted February 5, 2014 This has to be the canary in the coal mine, right? It's the Carney in the money pitt. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted February 5, 2014 Share Posted February 5, 2014 (edited) Double post, oops. Edited February 5, 2014 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted February 5, 2014 Share Posted February 5, 2014 (edited) Triple post, double oops. Edited February 5, 2014 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted February 5, 2014 Share Posted February 5, 2014 (edited) Quadruple post, triple oops. Internet issues. Exscuse me. Edited February 5, 2014 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted February 5, 2014 Share Posted February 5, 2014 (edited) Hi, Raj Shastri here. You be JOLLY careful old chap about using phrases like 'bouffant'. Next you will be suggesting that I, Raj Shastri wear a wig, and then I'll have to sue. Cheers Raj Hi Raj Shastri here. You sir are skating on thin ice. If you are having the temerity to suggest I wear a wig, I will sue you. Don't think I won't. Cheers Raj Spellckeched by Gwendolyn http://www.google.co....60799247,d.d2k Edited February 5, 2014 by Sancho Panza Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted February 5, 2014 Share Posted February 5, 2014 (edited) Property tribes 30/10/12 ' Post: #1 Vanessa Warwick Mute Landlord & Co-founder of Property Tribes 30-10-2012,10:50 AM Subscribers: 6 [Subscribe to this user] "A bad property deal is like a bad haircut ... it will grow out" ... or will it? I met some property investing friends for lunch yesterday as they wanted to run a problem by me. They have three flats in Sheffield that they bought through a deal sourcer in 2006. All three flats are in negative cash flow and negative equity. Here are the numbers: Market value of the flats : £96K (an identical one sold recently). Mortgage on flats: £126K (so £30K negative equity) Monthly mortgage payment: £620 each Monthly rent: £450 each (so in negative cash flow to the tune of £170 per month each before service charges, repairs, voids etc). They wanted advice on how to dispose of these flats as they were subsidising them by £510 per month before factoring in service charges etc. I advised them to look into Rent to Buy, although the numbers are not favourable to this. I suggested that they let out a room in their house (they would get £600 per month) to pay the shortfall. I suggested they buy a high yielding holiday let to subsidise the shortfall. They are retired but have £650K equity in their own home and I put them in touch with a trusted mortgage broker to find out about equity release. There is an old saying that "a bad property deal is like a bad haircut ... it will grow out in time". I am not sure this is the case anymore due to stagnant capital growth and further possible declines in house prices on the horizon. What advice would you give this couple of how to minimise the damage of these properties? Could they approach the lender about a "haircut" for all three?!?! ' Post: #14 Vanessa Warwick Mute Landlord & Co-founder of Property Tribes 30-10-2012,05:20 PM Posts: 10,450 Joined: Feb 2009 Reputation: 13 Subscribers: 6 RE: "A bad property deal is like a bad haircut ... it will grow out" ... or will it? Quite!! Remember that other Inside Track saying ... "As long as it washes its own face, it's okay ... ". Raj Shastri, the Inside Track guru told us not so long ago that he is no longer involved in property and that he had exited his portfolio!! He was into Forex Trading and speaking at property events to get people involved in this new money-spinning scheme. Strangely enough, the deal sourcer mentioned in the original post was an employee of Inside Track!!' Edited February 5, 2014 by Sancho Panza Quote Link to comment Share on other sites More sharing options...
stuckmojo Posted February 5, 2014 Share Posted February 5, 2014 Property tribes 30/10/12 ' Post: #1 Vanessa Warwick Mute Landlord & Co-founder of Property Tribes 30-10-2012,10:50 AM Subscribers: 6 [Subscribe to this user] "A bad property deal is like a bad haircut ... it will grow out" ... or will it? I met some property investing friends for lunch yesterday as they wanted to run a problem by me. They have three flats in Sheffield that they bought through a deal sourcer in 2006. All three flats are in negative cash flow and negative equity. Here are the numbers: Market value of the flats : £96K (an identical one sold recently). Mortgage on flats: £126K (so £30K negative equity) Monthly mortgage payment: £620 each Monthly rent: £450 each (so in negative cash flow to the tune of £170 per month each before service charges, repairs, voids etc). They wanted advice on how to dispose of these flats as they were subsidising them by £510 per month before factoring in service charges etc. I advised them to look into Rent to Buy, although the numbers are not favourable to this. I suggested that they let out a room in their house (they would get £600 per month) to pay the shortfall. I suggested they buy a high yielding holiday let to subsidise the shortfall. They are retired but have £650K equity in their own home and I put them in touch with a trusted mortgage broker to find out about equity release. There is an old saying that "a bad property deal is like a bad haircut ... it will grow out in time". I am not sure this is the case anymore due to stagnant capital growth and further possible declines in house prices on the horizon. What advice would you give this couple of how to minimise the damage of these properties? Could they approach the lender about a "haircut" for all three?!?! ' Post: #14 Vanessa Warwick Mute Landlord & Co-founder of Property Tribes 30-10-2012,05:20 PM Posts: 10,450 Joined: Feb 2009 Reputation: 13 Subscribers: 6 RE: "A bad property deal is like a bad haircut ... it will grow out" ... or will it? Quite!! Remember that other Inside Track saying ... "As long as it washes its own face, it's okay ... ". Raj Shastri, the Inside Track guru told us not so long ago that he is no longer involved in property and that he had exited his portfolio!! He was into Forex Trading and speaking at property events to get people involved in this new money-spinning scheme. Strangely enough, the deal sourcer mentioned in the original post was an employee of Inside Track!!' OT - NO WAY Quote Link to comment Share on other sites More sharing options...
zugzwang Posted February 5, 2014 Share Posted February 5, 2014 Is he related to Nadeem Walayat by any chance? Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted February 5, 2014 Share Posted February 5, 2014 (edited) OT - NO WAY I'm not sure how this goes...but..apparently yes way? Edited February 5, 2014 by Sancho Panza Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted February 5, 2014 Share Posted February 5, 2014 Vanessa '2011 we're reaching the end of it,has it been a good year for Motorhome?' Quote Link to comment Share on other sites More sharing options...
stuckmojo Posted February 5, 2014 Share Posted February 5, 2014 I'm not sure how this goes...but..yes way? nothing, just a random moment remembering waiting for Headbangers Ball back in the 90's. I was a fan. Quote Link to comment Share on other sites More sharing options...
durhamborn Posted February 5, 2014 Share Posted February 5, 2014 Its interesting,but iv seen what happens to many of these mainly southern investors and the towns they invest in. In my old home town ,on the edge up a big hill were 7 terrace streets.6 of them two up two down small terraces.The other street mainly 3 bed and 4 bed much bigger houses. The smaller used to go for between £15k-£25k and the larger around £35k. The locals mostly wanted to sell and buy a more modern house,they were going then around here for around £50k.(nice 3 bed semis). The problem was the houses simply didnt sell and it could take years to shift one.Then in 2003/4 something happened.The prices trebled.The tiny terraces were going for £75k.I knew the local estate agent and she told me the phone never stopped ringing and it was southeners mainly simply buying anything that came up without ever visiting.Several off them bought 3 or 4 in one go.They didnt even make offers just paid the asking price (that she whacked right up). The locals thought it was christmas as this was their ticket out of those houses and into much nicer ones.The nicer ones had gone up as well but were still very affordable compared to what they were now getting for their houses. Of course the houses all ended up rented out.Mostly to people on HB the councils in the North East had blacklisted.Roll forward to now and they have fallen back in price to the £35k mark down 50% and falling fast.The houses are now mostly wrecked and the rents are falling on them down to £300 a month.The council are also now going around them all and forcing the landlords to fix and repair the houses (that will be wrecked again). The area is also now blighted with massive levels of crime and the few locals left have a terrible time of it. Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted February 5, 2014 Share Posted February 5, 2014 nothing, just a random moment remembering waiting for Headbangers Ball back in the 90's. I was a fan. Yeah,weird hey? Quote Link to comment Share on other sites More sharing options...
EUBanana Posted February 5, 2014 Share Posted February 5, 2014 Vanessa Warwick became middle aged with a vengeance. Quote Link to comment Share on other sites More sharing options...
wherebee Posted February 5, 2014 Share Posted February 5, 2014 (edited) Vanessa '2011 we're reaching the end of it,has it been a good year for Motorhome?' Is the top one that bloke from twisted sister? Edited February 5, 2014 by wherebee Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted February 5, 2014 Share Posted February 5, 2014 this motorholme? http://blogs.mirror.co.uk/investigations/2012/07/a-long-way-from-motorholme.html Quote Link to comment Share on other sites More sharing options...
R K Posted February 5, 2014 Share Posted February 5, 2014 Raj Shastri was on here last time around iirc. Quote Link to comment Share on other sites More sharing options...
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