My USA Property Scam Nightmare II
My USA Property Scam Nightmare - Continued
Welcome to My USA Property Scam Nightmare Part 2.
In case you have not yet seen part 1 then you can go here to read all about My USA Property Scam Nightmare.
In the images on the right you can clearly see Ajay Ahuja's claims of strong cash flow and profits to be gained with our first USA property investment.
In 2011 Ajay Ahuja's property scam activity remains in full swing. Despite being found guilty in numerous court proceedings here in the UK he continues to operate.
Meanwhile, yes, my 1st property was fully tenanted as promised. However, the tenant in the rear unit had never paid any rent - ever! Of course this was only discovered by Ajay Ahuja's preferred third parties in Buffalo months after I purchased.
This was yet another level of property scam! Can you imagine Ajay in court? Oh, you asked if there were tenants. You didn't ask if they were paying rent. It'd be like something out of a Monty Python comedy sketch!
When Ajay's preferred third party management in Bufalo told the tenant he would now be paying rent he left. But only after taking all the metal plumbing with him causing $12,000 of damage.
And if this part of Buffalo was a popular rental area - why were Ajay's preferred third party management unable to find tenants for it? And when they did, why would they put section 8 tenants in?
Then you can see the actual profit and loss - just in that year. There was never any profit. And as I wrote earlier, we had lost a total of approximately $50,000 by the time we were finally able to sell.
When is a property scam not a property scam? You tell me. The astounding fact is that in these pages I can get into trouble - penalised, shut down, sued, whatever, for telling the truth about a property scammer. Believe it or not. It's already been tried!
I have had to respond to (anonymous) accusations about the content of my Ajay pages and attest to HubPages that all this stuff is factual! I responded by putting up more pages.
Yet people like Ajay Ahuja are allowed to go on profiting by ruining peoples lives. In 2011 Ajay is still operating. He is still selling to inexperienced people and setting them up for a fall. This behaviou ruins peoples finances, ruins lives, ruins their futures.
We had some money in the bank and it hit us hard. Ajay, and others like him, are selling to people who do not have money. He gets them to borrow money so God only knows what happens to them.
Australian Investors & USA Property
Our USA property nightmare which began in 2008 could be coming to an end. In September 2010 I found the courage to find alternative management for our remaining property on Duerstein Street, Buffalo, USA.
Because we live in England it seemed we had no choice but to maintain faith in Ajay Ahuja's preferred third parties in Buffalo. We were completely reliant on whatever they told us. Time and time again we were reassured that tenants would be found, that the situation would be turned around soon, etc. etc.
But because we'd lost so much money on the 1st property I was now desperate to not lose too much with the remaining one.
There is a well known saying. Out of the frying pan, into the fire. That sums up our trepidation about finding new management for the property. All recommendations were from Ajay and we completely relied on his advice. Current management was recommended by Ajay Ahuja. No other options were provided.
You know, maybe these were the best property management people in Buffalo! How would I know? What if any other Buffalo property managers, if there were any, were worse? Anyway, I spent weeks googling to find out and contacted various management people, and finally chose somebody.
I had to rely on whatever information was on websites which came up in searches. I had to gamble that whoever I found would bet better than who I was with.
The images on this page help to tell the story about the difference between Ajay's recommended management and the new property manager I found. Our new management in Buffalo - within only two months - accomplished more than previous management did in three years.
By February 2011 our remaining investment property in Buffalo, USA was completely refurbished and under sane management. Each of the four units was now tenanted and the property was finally bringing in income.
For many other victims of Ajay Ahuja the nightmare continues. Here is yet another example of property scamming here in the UK. Received an email from Lorraine - yes, another victim of Ajay Ahuja. I suggested applying for bankruptcy but apparently that's not an option for her.
US Property Loss
I know there are countless numbers of victims of economic hardship world wide. On the news we learn about people of various nationalities even suiciding, not just because of "the recession" but for various reasons, mostly to do with economic hardship. I have learned it's much easier to relate to the losses of other people when you're suffering with your own personal adverse situation.
At the age of sixty-one I really didn't believe I needed to learn any lessons from this whole dismal landlording experience but, you know, you do keep learning. I've had to learn that there are sharks out there. There really are people who look like us, talk like us, relate to us with apparent sincerity, even love.
But deep down, inside, they are not like us at all. The "nicer" some people seem, the worse, the more evil they can be.
At this stage, in 2012, I'll be lucky to recover a fraction of the retirement money I "invested" in US rental property. Any dream of being a successful landlord was shattered within months of first getting involved. My current dream now is simply "getting out".
Anyone interested in purchasing this property - or helping me to sell it - please contact me via this hubpage.
- Interview With Ajay Ahuja
An "old" interview with Ajay Ahuja with some useful comments and warnings about him added at the bottom...