• Report: #943056

Complaint Review: Austin Davis Commercial Real Estate

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  • Submitted: Tue, September 18, 2012
  • Updated: Tue, September 18, 2012

  • Reported By: Don — Phoenix Arizona United States of America
Austin Davis Commercial Real Estate
Internet United States of America

Austin Davis Commercial Real Estate Austin Davis Commercial Real Estate American Funding Steal money from their students. Internet

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Austin Davis' Commercial Real Estate Program is a program that advertises to aid and help students enter into commercial real estate. Upon first purchasing the course for $999, you are told that prefunding of $20,000 - $40,000 or working with a partner in the proram will be needed to get a deal to the closing table. In order to get this prefunding or partner, they outsource you to a company called American Funding who claim that after wiring them $295, they will get funding for you withiun 60 - 90 days. If they are unable to get funding for you, they refund your money. They were not able to get my funding in 2007, and refunded my $295, but refused to pay me for waiting. I wired them the $295 and waited a lot longer than the 60-90 days as I got promise after promise from American Funding that funding would eventually come. Upon asking for my money back, I was told by American Funding that they were unable to get intouch with the vendor that they had outsourced to and I had to wait another 3 weeks to get my refund! That was the waste of time in 2007! I then tried the partner program, and no partner would agree to let me have all the ownership with a buy out option from the cash flow we would make on a deal. I did not want to be in a long term partnership with any of the partners, so anything less than 100% ownership was not acceptable. I had to do the property scout program to make enough money to save up for a down payment. Now that I have enough money to do a deal, they will not provide me a deal to get in, but say I can only bring them deals and partner with them. They will not let me get any deals on my own. Why did I pay $999 in 2007 then? I wanted to do my own deals and I do not want to share with Austin or his partners.

I have called Austin and his office each week for the last 8 months to get them to give me a deal. All calls to them have been unreturned for the last 7 months. Austin Davis had claimed that if we were unable to get help to just contact his team but so far all his team have said is that they have done all that is offered in the program and that giving me deals was not part of the deal. This appears to be a scam as i know that other people have also had their time and money spent from all the time invested stolen by Austin Davis.

Beware of Austin Davis, American Funding, and any partners and investors that work with them. All they want is to get in deals you find, they do not want to give you any deals. They take your money, but will never let you have all the ownership, but force you to be a partner on every deal.

This report was posted on Ripoff Report on 09/18/2012 01:05 PM and is a permanent record located here: http://www.ripoffreport.com/r/Austin-Davis-Commercial-Real-Estate/internet/Austin-Davis-Commercial-Real-Estate-Austin-Davis-Commercial-Real-Estate-American-Funding-943056. 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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