• Report: #837801

Complaint Review: Austin Davis CREProgram Commercial Real Estate Program

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  • Submitted: Sat, February 11, 2012
  • Updated: Sat, February 11, 2012

  • Reported By: Mark — Des Moines Iowa United States of America
Austin Davis CREProgram Commercial Real Estate Program
Internet United States of America

Austin Davis CREProgram Commercial Real Estate Program Austin Davis CREProgram Real Estate Program Program Austin Davis Mastermind Group CRE Program Commercial Real Estate Apartment Buildings Internet

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I got banned from doing any more deals with Austin Davis partners! I closed my first deal for only 35% of the ownership on a $3,150,000 deal and I found it and should have got more! I did not have any money to put down and was told if I wanted to do my deal with him that was the best offer! So I had to take it. I do not know any one else who can partner on deals. I did 2 other partner programs with other gurus before this and no one would do the deals. So I tried Austin CRE program and then got only 35% of deal. I should get 90% because I found it and I would do more, but 35% is not much motivation!

I brought last month another deal to the private lender who did the first deal. My partner offered me 45% this time. Still not much of a big bonus! No other options though. Well the private lender say they do the loan, but then my partner not have enough cash! He says lets bring another partner in. So we do and he pays for the fee to have another partner. Well the new guy has more than enough money and says why we keep other partner in deal? Lets buy him out. He did not want out, but no reason to keep him in. So I now have to give up 15% and first partner give up 15%, so new investor gets 30%. I only pay for first investor once, but why do I have to give up more percent is not very fair!

I tried to explain to the first investor he needs to drop out, we will pay him his $18,000 he paid for appraisal and reports on the apartment and loan fees to Horizon private lender, but he won't give up his share. What kind of investor partner so unreasonable and stubborn!

I tried to fix this and talked to the 2nd partner and offer to buy him out on a note we can create after closing so I can buy his 30% and he says no he wants ownership. This is so annoying and these investors are just greedy! I do the work and I find the deals! I just have not enough money, but they not work with me!

They both complained to Austin group and said I am harrass them! I just want my fair share of ownership! Austin group now ban me and refund my member fee from last month and say I can not be considered again ti be a member for 12 months! How I gonna do another deal now? Austin ban me and this not acceotable!

I still in contract on deal and get the 30%, but after this my partners not want to do another deal with me! The private lender also tell me they no longer will do loans for me on deals by myself!

Austin banned me and now I have no options!

This report was posted on Ripoff Report on 02/11/2012 08:38 PM and is a permanent record located here: http://www.ripoffreport.com/r/Austin-Davis-CREProgram-Commercial-Real-Estate-Program/internet/Austin-Davis-CREProgram-Commercial-Real-Estate-Program-Austin-Davis-CREProgram-Real-Estate-837801. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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