I saw a previous report about this, I too have been ripped off by this group of real estate companies. They came to our city and had a 3 day buying summit. They tell you that they are selling turnkey properties. They promise you fully tenanted, rehabbed, positively cash flowing and vetted property managed properties. They also tell us that these properties are in up and coming neighbourhoods and that they are below market value. That's a big lie. What I got was a totally dilapidated duplex with a falling down garage, tenants who weren't paying from day one, and I don't blame them. I wouldn't pay for a house kept in that condition.
Also upon further research the properties are way over market value and not in great neighbourhoods. When I contacted them back in February of 2015 when we were supposed to be receiving rents they tried to tell me now that I bought the properties in as is condition. They must think people are stupid, who is going to buy a property hundreds of miles away without seeing it and them saying "hey your buying this as is and it's not tenanted and it's not cash flowing and its possibly falling apart. They sold over 3 million dollars in property that weekend and I personally know the other Investor's. Some have taken small amounts of cash to shut up and go away. I'm not . I want what was promised or they can buy them all back since they are under market value and I'll just take what I've paid for them plus the rents owing.
They tried to tell me we had weeks to do our due diligence but that's a lie as well. They promote how it's easy to buy these properties unseen, that they have done all the leg work for you. They show you pictures of the property and neighbourhoods but they are old pictures before they fell apart. Then they hit you with asset protection and tax companies and that in itself takes you weeks to set up. By the time you've done all that and spent an extra 10000 dollars the deal is done. I've reached out to the BBB of Utah but they just repeat the same company line and refused arbitration. They want to give me some cash to just go away but I'm not taking that. It wouldn't cover what needs to be fixed and all the lost rents and the legal fees for eviction etc.
Property Direct USA Reviews
I saw a previous report about this, I too have been ripped off by this group of real estate companies. They came to our city and had a 3 day buying summit. They tell you that they are selling turnkey properties. They promise you fully tenanted, rehabbed, positively cash flowing and vetted property managed properties. They also tell us that these properties are in up and coming neighbourhoods and that they are below market value. That's a big lie. What I got was a totally dilapidated duplex with a falling down garage, tenants who weren't paying from day one, and I don't blame them. I wouldn't pay for a house kept in that condition.
Also upon further research the properties are way over market value and not in great neighbourhoods. When I contacted them back in February of 2015 when we were supposed to be receiving rents they tried to tell me now that I bought the properties in as is condition. They must think people are stupid, who is going to buy a property hundreds of miles away without seeing it and them saying "hey your buying this as is and it's not tenanted and it's not cash flowing and its possibly falling apart. They sold over 3 million dollars in property that weekend and I personally know the other Investor's. Some have taken small amounts of cash to shut up and go away. I'm not . I want what was promised or they can buy them all back since they are under market value and I'll just take what I've paid for them plus the rents owing.
They tried to tell me we had weeks to do our due diligence but that's a lie as well. They promote how it's easy to buy these properties unseen, that they have done all the leg work for you. They show you pictures of the property and neighbourhoods but they are old pictures before they fell apart. Then they hit you with asset protection and tax companies and that in itself takes you weeks to set up. By the time you've done all that and spent an extra 10000 dollars the deal is done. I've reached out to the BBB of Utah but they just repeat the same company line and refused arbitration. They want to give me some cash to just go away but I'm not taking that. It wouldn't cover what needs to be fixed and all the lost rents and the legal fees for eviction etc.