Property guru Samuel Leeds has asked investors to bail out his massive restoration project after training course revenue dried up during Covid.

Leeds has started raising finance for historic Ribbesford House in Worcestershire which he bought at auction for £800,000 in 2018.

He set aside £2m to convert the dilapidated house into 10 luxury apartments and four houses but Leeds has already forked out for extensive work on the building, repairing structural issues and battling Japanese knotweed.

Now, in an announcement sure to raise a wry smile from the property investors’ many critics, cashflow and progress on the grade II listed mansion has stalled and he told local newspaper The Kidderminster Shuttle: “Covid-19 has slowed the works down.

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“The pandemic has had a major impact on my training and events business, due to the Government not allowing them.

“We’ve had to cancel events with an expected 10,000 people which has been hard on our cashflow.”

He insists there are potentially handsome returns to be had from a stake in Ribbesford House and while he may hope that his successful students will invest in the project, a group of unhappy property training course attendees are currently gearing up to bring a group action against him.

In Youtube videos, Leeds has previously boasted that he should be able to make £1.2m in cash on the project, as well renting out the properties to earn a passive income of between £10,000 and £12,000 a month.

“It’s going to be a really exciting project – I bought this without even seeing it. I’m in love with it. It will make us an awful lot of money.”

Read more about Samuel Leeds.

8 COMMENTS

    • Good point – we’re all aware at LZ that Mr Leeds has a business model that is at best taking advantage of vulnerable and inexperienced people – but until the law is changed or regulations brought into this sector, we have to keep it factual and he presents himself as a guru!

      • Why is the UK education system churning out people who are not able to apply sensible judgment to any kind of investment? Not these seminars in particular, I mean any kind of investment and money management?

        I’ve had to educate my daughter on this kind of thing myself. The school system is worse than useless.

        In my experience it has ingrained the attitude of “I don’t really need to listen to my dad about this kind of thing, because if it was that important then my school would teach me”.

  1. I’ve seen Samuel Leeds’s videos about this castle.
    My honest opinion is that Samuel is too young and too inexperienced to tackle something like that.
    That is my opinion of Samuel Leeds. He is too young and too optimistic. He thinks it’s all about having a positive attitude etc. He’s probably got this attitude from other “motivation” types. But it’s unrealistic nonsense that has spread from the USA.

    Enthusiasm is good, but it’s not enough on its own.
    You need experience and money.
    I’m surprised more of his followers don’t understand this.

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