The Demise of a once Super Hyped Property Educator

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    The Demise of a once Super Hyped Property Educator

    Forgive my smile after reading the note within the Tweet from Landlord Zone about the Bankruptcy of Glen Armstrong to the tune of £4.9 millions , a once Super Hyped "Expert" in teaching mere mortals how to become wealthy through Buy to Let Investments through his Courses and "Home Study programme's.

    What I find interesting and disturbing is the reported number of unsatisfied County Court Judgements relating to his various companies and of equal importance Unpaid CCJ's in a personal capacity going back several years. Furthermore he has apparently been reported to Crime Stoppers for alleged fraudulent Bounce Back Loans. Clearly Mr Armstrong may have his day in court and overturn the Bankruptcy Application.

    Having been an arch critic of such property educators promulgating their Expertise to anyone prepared to subscribe to their "Snake Oil" solutions I do hope that anyone interested in getting involved in property investment gives such organisations a very wide berth and instead get involved once Lockdown is over in their local Landlord Associations which really do offer positive advice.


    #2
    Indeed. Should deport the bar steward. (What are MPs for but changing laws?)

    Great threads on 'im over at PT.
    I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

    Comment


      #3
      Whilst PT had indeed flagged up the activities of this individual I well remember another Property Site which eulogised about him along with other so called luminaries.

      Nothing pleases me more that reading of the downfall of such persons but to make sure I have sent a copy of the LandlordZone article to every lenders BDM to pass to their Credit Teams knowing full well that many will be holding mortgages in some capacity or other and will at some point be receiving calls from the Receiver in Bankruptcy and to note their files that should he try and resurrect like Lazarus he will receive a categoric NO.

      Christmas has indeed come early 44 weeks to be precise.

      Comment


        #4
        I read a thread this morning, posted by someone I've met a couple of times. This person was originally mentored by GA but describes him as nothing but a con-man. Apparently, lots of the funding GA 'put in place' for his 'not able to fund their own projects mentees' was obtained as a mortgage fronted out in someone else name. GA defaulted on the mortgage payments and the fronted person gets left as Bankrupt.

        Comment


          #5
          If someone found a way of getting rich quickly or with minimal funding, the absolute last thing they would do is tell other people about it.

          It would build competition, which, unless the business model depends on lots of competition (which landlord investment doesn't) is never a good idea.

          And, if they're so successful, why do they need income from seminars and training courses?
          It's a hard way to make a living compared to being a landlord.

          It's sad that people don't understand that fairly fundamental flaw in the narrative.
          In reality people attending the training are potential sources of money for the organisers and nothing more.
          When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
          Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

          Comment


            #6
            JPKeats writes an excellent note on such practices and observations on those who are attracted to such blandishments.
            A number of years ago I was asked to make presentations on Buy to Let Finance to aspiring investors, what amazed me and disappointed me was that a significant number of attendees were persuaded by the sales support team of the organisers to buy the expensive courses by using credit cards with the standard phrases , if you hesitate committing to spending a few hundred pounds on these courses you have no chance in succeeding in property investment. To my mind I realised that the only beneficiaries are the course organisers milking the pockets of ordinary folk seeking to find gold at the end of the property rainbow.
            i wonder how many of these Property Educators are still driving their luxurious sports cars as a symbol of wealth and expertise , I hope the example of greed through such people as GA is a reminder to leave such people alone just like Covid19 is to be avoided like the plague.

            Comment


              #7
              Originally posted by loanarranger View Post
              if you hesitate committing to spending a few hundred pounds on these courses you have no chance in succeeding in property investment.
              It's as if everything they do or say is another red flag.

              If you have to put the cost of the training course on a credit card, the last thing you should be doing is contemplating property investment.

              Charlatans and parasites.

              When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
              Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

              Comment


                #8
                As the old saying goes and whilst somewhat brutalis indeed correct in this instance.

                ” Fools and their money are soon parted”

                Comment

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