Property Education and the Property Investors Bureau
Posted on 31st January 2020
This week, BBC’s Inside Out London, reported on the devastating death of Danny Butcher who took his own life. Mr Butcher was in debt when he attended a free course which attendees are shown how to find cheap properties then turn them into rental income. The trainers then say that to become really successful the attendees can pay for a further training course which costs several thousands.
After Mr Butcher was unable to make money from rental income her felt pressured to sign up and paid £13,000.00 to join the Property Investors Academy. Mr Butcher was then unable to make the training due to work and was refused a refund. Mr Butcher felt there was no other way out from his debt and sadly committed suicide.
An undercover reporter, Abu Jaiyelo attended one of the courses where she was told by the property education company Property Investors, that she could make between £30-£50k per month and was promised guaranteed financial freedom. In another example, which reported on the BBC programme, Andrew Whyte explained that he could not afford to sign up to the academy. Mr Whyte was then persuaded to open a banking app so he could invest his army pension to pay for the training after being told that the price would go up if he didn’t sign up that day. Mr Whyte has since explained that he has not had any of the deal or one-to-one mentoring that he was promised and is now living with severe financial hardship. Mr Whyte in now pursuing the matter with through the small claims court. The BBC programme then reported on a Dianne Granville who managed to get a refund for her training. Dianne Granville is currently assisting 78 other people to get refunds.
After watching the programme and asking Colleagues within our Property Law department I decided to do some research into the Property Education Market. The first thing I discovered was that there are some very credible courses and training programmes out there but there is no recognised industry body. The education programmes are not regulated, and you have to rely on other people’s reviews of the training programme in order to make a decision about which training programme you use.
The Property Investors Bureau are soon to be launching a Property Educators Accreditation Scheme aimed at addressing significant and devastating issues within the property education sector with the aim to give credible property educators a way to clearly differentiate themselves from other property educators.
This hasn’t happened yet though!
So, if you are thinking of making your millions in the property sector remember MG Legal are here to help with any questions you may have. Contact us now on 01995 602 129 and or email firstname.lastname@example.org.
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