• Report: #466820

Complaint Review: DRS Investments - Dana R Smith

Thank You

Read how Ripoff Report saves consumers millions.

  • Submitted: Wednesday, July 01, 2009
  • Last Posting: Monday, November 16, 2009
  • Reported By:lithonia Georgia
DRS Investments - Dana R Smith
drsfinance2003@yahoo.com Lima Nationwide South America

DRS Investments - Dana R Smith non performer broker charging upfront fees Lima lema


1Author 0Consumer 0Employee/Owner

Respond to this Report

  • Respond to this report!
    What's this?
  • Also a victim?
    What's this?
  • Repair Your Reputation
    ...the right way!
    Corporate Advocacy Program
If you are seeking commercial financing on your projects, stay away from DRS Investments, LLC. The broker name is Dana R. Smith out of the Virginia Area, now residing in Peru.

The pitch is, he works with a huge trust fund with global offices around the world that loans money on projects. However, if they get your short application back and they like your project, the next step is the upfront registration fee wired to him diectly, which he walks into the lenders office to register your loan.

You will be promised an approval letter within the same day of sending your $500 registration fee. Worst case the next day depending on when your funds come into the western unit pay center.

Well, after sending the registration fee, it's been over 3 weeks and my client never got the approval letter just days upon days of excuses!!! In fact, you get a lot of talk and empty promises of Dana telling you that the Director will be calling you and the underwriter is working on it as we speak crap, in a meeting now, they will call you right back, etc.! Very unprofessional protocol. A true waste of valuable time for my client.

Joyce
lithonia, Georgia
U.S.A.

This report was posted on Ripoff Report on 7/1/2009 12:09:24 PM and is a permanent record located here: http://www.ripoffreport.com/brokerage-companies/drs-investments-dana/drs-investments-dana-r-smith-6f9ad.htm.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

Click Here to read other Ripoff Reports on DRS Investments

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
REBUTTALS & REPLIES:
1Author 0Consumer 0Employee/Owner
Updates & Rebuttals

#1

rebuttal to the lie of joyce walden about me and my company

AUTHOR: dana smith - LIMA (Peru)

hi im dana smith of drsinvestments. i want to clear up the false info sent by joyce welden on lithonia georgia. ms. welden came to me by referral soliciting a loan for 10 million dollars for a project in trinidad  not the usa. i soon found out she was not the lead broker but one of three brokers involved. we call that a daisey chain. everything was explain to her the broker in the beginning that this was a private lender not a conventional lender located in a foreign country and charges very hih rates . she was also told that there was a 500 dollar registration fee if the lender is interested. this is for the lender not me. !!!!!! she understood. or so she said. ms. welden is always a middle woman in these lending deals and does not have a direct lender ever herself. she works a full time job i learned and does this part time and tries to get an equal share just for a phone call. if she is not satisfied she attackes with inuendos and false hoods. she has never closed a large loan like this. i told her that her calls veryday before she goes to work are unnessesarry . just let the process go through . she was impatient wanting the name of my lender. she knows that as a broker myself i wont do that and the lender does  not want calls fro around the world with brokers with looney deals. so the lender only works with eight brokers  through out the world. i made a decision to stop talking and giving a dailey update to ms welden and to give only to the broker represnting the borrower . . when u have so many brokrs involved nothing gets done. ms welden did not like that. she wanted to keep control. i was up front with her every and i mean every day!!!!!!!!!ththats where" the lot of talk "came from . we also talked about other things in life and ploiliics . we actually i thought became friends. i realie that she was lonley and broke and at times when she took other calls and realized she is the middle person on all loans million dollar loans and has closed none.  i finally told her and the other broker that represents the borrower that the lender had some internal problems with some loans and always told her what was told to me. always. but thru always saying she understood she was being a hypocrite . the lender and i also found out the loan had been shopped for around 6 months. also it was the first time the lender had ever done buisness in trinidad. i did not know this. and because of two bad loans they had recentley been involved in  they were getting cold feet. also there are other things that i will not say about the loan since it is confidential. i always called her back!!!!!!!!!! but she became beligerent and i stoped calling her . remember she has never done a loan like this. if she had she would not have a full time job. well after she filed this against me. i did not know this and the site never contacted me for my story just put it on the internet as a rippoff.  i have done thousands of loans in twenty years and my credibility is at stake. the lender feels if you are asking him for millions then it takes underwriting and he only charges a registration fee of 500 not the usual due diligence fee that most brokers ccharge for a milllion dollar loan of $5000.00 or more. that is charged everyyday in the hard money buisness and people pay it . that is a scam. also there are a lot of people out there trying to get a loan with no money in the bank at all. those are the ones who complain and will not tell others that was the problem. what joyce has done is a lie and she took it personal. how was it unprofessional to give her updates whenever she asked and that was every day. when there was a problem i told her. she was always able to reah me. always!!!!!!!!!!!!!!! i have run into a lot of clients who tell u lies in the beginning and think u will never find out. they are the ones who complain the most. also the trinidad loan is not her client!!!!!!!!!!!!!!!!! remember what i said the client is not her client- another lie!!!!!!!!!!!!!!!!!!!!!!!it was also not a wate of her client valuable sign because she had no client!!!!!!!!!!!!! i have many references who can tell u that i am honest and almost to honest with my clients and tell then toooooo much. i have since learned my lesson to not do buisness with brokers i dont know and especially the ones who only do part time. i am asking that this complaint be removed because i never dealt with a client of hers an i dealt with only the lead broker and the borrower. next time or now rip off report contact me before you automatically believe a complaint by a digruntaled broker. i have great references and will supply them if needed. this complaint was a lie
Respond to this report!
What's this?

#2

second rebuttal of lies by joyce walden on my company

AUTHOR: dana smith - LIMA (Peru)

hello its dana smith again rebutting the complaint against me on my company and me. number one your web site should have contacted me first to get my side of the story. i have never heard from your site at all. also where is her evidnece . there is none because the client was not her client. it was another broker and they understood the delay and also the customer understood. also miss welden only operated as a broker in the daisey chain of brokers and she was told that a conditional approval was possible if it was registered early in the week when the underwriters are not as busy. as you approach friday they are very busy and trying to go home for the weekend . she was told this many times . the registration fee was received friday and she was informed that the conditional approval not an approval would be forth comming withing 3 buisness days. she lied to the web site and said an approval was comming. but we did not have a full package to give a full approval . my concern now is to clear my name from this lying broker . there will be people who have worked with me for years and will vouch for my honesty and loans that they have closed with me. miiss joyce welden sought my help - i did not solicit her. in 20 years of doing this the only times that loans have not close is if the customer or client did not live up to what they reported either no money in the bank or no collateral or common sence problems. not all have been happy but that is what happens in this buisness. miss walden took it personal because she could not get to my lender to try and influence and to try and go around me. that has happened in the buisness many time to all brokers. protocal is all is done thru the lead broker me and not a middle man or woman. miss walden is leaving out many pertinent info and the web site has accepted her word without evwer contacted me . why? i will now issue a complaint against her phoney company so that other brokers and consummers are taking notice that she has noooooooooo lenders just daisey chain of brokers . i hope the complaint is removed and anyone who want to contact me .


Respond to this report!
What's this?

#3 Owner of Company

final rebuttle of lies

AUTHOR: dana smith - LIMA (Peru)

i have asked this site many times to tell me how they verified  joyce story and they refused to call me dana smith or explain to me how she can just make up a story and they just print it.  none of my few ex clients have not been contacted also.  i have tried to settle this but  the site refuses to contact me. . there has also been no additional complaints eithjer. now i will seek compensation  and apoligy from the site here and the lying joyce .  this is a made up story!!!!!!!!!!!!!!!!!!!!

dana smith


Respond to this report!
What's this?
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips

Advertisers above have met our
strict standards for business conduct.