Here at the EveryCloud office, having had personal experience with Ajay Ahuja, we loved every minute of seeing him exposed on BBC 1’s Inside Out last night. Let us tell you why and how this chain of events has ensured that we provide a solid service with our BMV deals.
If you missed it, or simply would like to rewatch it then click here http://www.bbc.co.uk/iplayer/episode/b00nqhs4/Inside_Out_London_02_11_2009/
In 2008, Katie from this team purchased a Ready Made “too good to be true opportunity” from the Ahuja Group. Turns out that it was exactly that and after a few months of failed valuations and failure on the part of the Ahuja Group (who are actually a Sole Trader and not a company – Ajay himself), to either help to renegotiate the price of the deal or provide a refund, Katie took them to court. When the Judgement was awarded to her, Ahuja was given 30 days to pay in full which he ignored. She then engaged Landlord Action who started Bankruptancy proceedings against Ahuja, which again he ignored. Katie was then contacted by another investor who had successfully recovered money from Ajay and he kindly gave her Ajay’s home address. With this information. Katie then got Landlord Action to send the bailiffs to his home and they seized a vehicle which was removed from his house before he paid the debt in full….
So what did we learn from this and how does this make US at EveryCloud good people to do business with?
1. Well, firstly we are transparent with our investors about due diligence we have carried out, and we actively encourage investors to do their own DD before we will assign them a deal.
2. Our due dilligence on a property is real, factual and correct to the best of our knowledge. On several deals there will already be a RICS valuation that will support our figures.
3. We don’t take huge (£4k) reservation fees for properties / deals – we take a sensible £250 now and the balance when the deal completes
4. We will hold our investors hand through every part of the process
5. We do not inflate the valuations on our BMV deals, frankly – what is the point?
6. If there is a problem, we will do everything we can to get a resolve so all parties are happy. We only get paid in full when a deal completes so we actively work with our investors to ensure this happens.
We don’t want to be featured on anything like Inside Out, nor would we ever dream of investors having to go to such ridiculous extremes to get an answer.
Katie was lucky. She got all of her money back and learned some great lessons so she could watch last night’s programme witha big smile on her face. Unfortunately there are many other people out there that are still owed money who shouldn’t have to hope that he will do the “decent thing” and pay them back for deals that just didn’t materialise.
Have a look at our deals and see if there is anything that takes your fancy. Also, please do browse our Property Syndicate brochure to see the amazing opportunity we are offering here.
Over and out,
The EveryCloud Team
