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Monday, December 20, 2010

Property guru bites the dust

Another so called property guru offering BMV property has bitten the dust. People like this with no professional training or educational background in property should stick to selling double glazing. They shouldn't advise inexperienced individuals and investor about things they no nothing about. Clearly they are not very good at dealing with money! Be warned if you buy property in haste you will often repent in leisure.

In his own words:

Dear Friends, Colleagues and Clients,

It is with much regret and a heavy heart that I am sending you this letter.

My company, Rapid Property buyers Ltd, has ceased trading and has entered into voluntary liquidation, there are no assets or capital (please refer to my statement sent 2 weeks ago, by way of background).

I will be staying in office as Director to fulfil my obligations and facilitate the liquidation of the company. The liquidation will be handled by Tim Heasle-grave, The Redfern Partnership, 29 Jury Street, Warwick. CV34 4EH 01926 497 722, please address all future enquiries relating to the company to them.

In addition to this, at 10:51 this morning, primarily due to the personal guarantees I offered investors and a massive libel lawsuit from Harlequin Property (caused by my support for investors posts on, I was forced into personal bankruptcy.

My personal Bankruptcy will be handled by M P Dunn, Official Receiver, SOL House, 29 St Katherine Street, Northampton NN1 2QZ, please quote reference 0457 of 2010. Please address all enquiries relating to my personal bankruptcy to the Official Receiver and they will contact you directly in due course.

I have taken an employed position with Rapid Property Deals Ltd which will focus on the core business of providing quality property deals to investors.

It is within this role that I would hope to:

a) Satisfy the portfolio builder services that Rapid Property Buyers Ltd had planned to fulfil before it ceased trading


b) Generate income sufficient to repay all of my creditors and past clients within a reasonable period of time.

I would stress that neither Rapid Property Deals Ltd nor myself personally are under any legal obligation to offer this. I offer this on a personal basis, without personal guarantees, formal agreements nor contracted timescales.

I am currently going through a type of grieving process and would ask for some patience and time to rebuild, I have lost most of what I have worked for over the last 4 years, not just material things but confidence, friends and reputation.

Many people will be rightly distressed and upset at this outcome. I do accept full responsibility for the failure of the business projects and for taking uninsured risks.

I apologise unreservedly to everyone, I am truly sorry.

I respectfully request that I now be allowed to spend time with my family and that the Official Receiver and the Liquidator named above handle all enquiries in the appropriate manner as defined by English law.

To this end, please support my efforts to remain in the property industry. If you feel you are not able to support me, I would ask that you refrain from disseminating information that is baseless or inaccurate as this will not help anyone moving forward.

After this healing period, I hope to begin to move forward next year and will keep you, together with all of my clients and creditors, informed of progress.

One day, I hope to be able to hold my head high again, having honoured all of my original intentions.

Yours Faithfully,

Phil Martin

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