- Report: #739146
Complaint Review: EquityBuild, Inc
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| EquityBuild, Inc 1083 N COLLIER BLVD #132
Marco Island, Florida United States of America |
|
EquityBuild, Inc Jerry Cohen these guys sell you junks and rip you off every penny Marco Island, Florida
*Author of original report: well, can you explain more to the potential investors why there is a lawsuit and what you have provided to the investors?
*REBUTTAL Owner of company: Company response to this posting
Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™
These guys from Florida who know nothing about Real estate in Chicago, try to sell you junks in south side chicago. First start off saying this is in good area and that is in good area, giving you an inaccurate CMA to push you into a transaction. a CMA comes from them can state a property worths $400k but the bank appraises it for $130k which make it look like a steal at the beginning but you will figure out later on. plus they are all in bad areas or right at the border and they claim those are in good area. further more, they claim their business structure is not to flip the property for huge profit but they sell you a property for $150k while they get it for $30k, they never own the property before the close, I am not sure it is legal but they basically do double closing without proper documents.
They have rehab escrow which charge you for tens of thousands dollar and didn't do a job that worth more than 5k. it is totally inhabitable. so they make money both flipping a junk to you and rip you off from the rehab. it sounds like they are professional, but they are not, just father and son scams.
there are already a few victims who are stuck with their properties and not able to refinance from a traditional banks. they provide hard money loan which is 13% and they make money here and there. I backed off a couple properties after knowing their business practice and they withhold my money and not willing to give it back to me, $150k+???? does it sound right to you?? it is a scam!
do you want to be the next victim? my bad experience is a gain to you. think 10 times before you go with these guys. stay away! poor management and they never disclose what they spent on rehab, so you know how it goes.
They have rehab escrow which charge you for tens of thousands dollar and didn't do a job that worth more than 5k. it is totally inhabitable. so they make money both flipping a junk to you and rip you off from the rehab. it sounds like they are professional, but they are not, just father and son scams.
there are already a few victims who are stuck with their properties and not able to refinance from a traditional banks. they provide hard money loan which is 13% and they make money here and there. I backed off a couple properties after knowing their business practice and they withhold my money and not willing to give it back to me, $150k+???? does it sound right to you?? it is a scam!
do you want to be the next victim? my bad experience is a gain to you. think 10 times before you go with these guys. stay away! poor management and they never disclose what they spent on rehab, so you know how it goes.
This report was posted on Ripoff Report on 06/10/2011 09:09 AM and is a permanent record located here: http://www.ripoffreport.com/r/EquityBuild-Inc/Marco-Island-Florida-34145/EquityBuild-Inc-Jerry-Cohen-these-guys-sell-you-junks-and-rip-you-off-every-penny-Marco-739146. 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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Search Tips#1 Author of original report
well, can you explain more to the potential investors why there is a lawsuit and what you have provided to the investors?
AUTHOR: ebvictim - (United States of America)
SUBMITTED: Friday, August 12, 2011
yeah right, there has been a lawsuit with person A suing person B while A is withholding B's assets that does not belong to A. is it legitimate in any planet? why not explaining the whole story in front public? why not disclosing rehab spending to your clients and claimed that is proprietary? why not willing to give out property's manager info while a Florida man trying to manage Illinois properties?
what is proprietary on rehab work? special ways to make the wall cracks and leave it like that? using dirt cheap used carpet? I leave this to a logical person to answer. Being a claimant does not make you look better if the claim is foolish and invalid.
well, I am reporting the truth and think about it who is making the money? not me, I am losing big on this, why I have to report that? I really have no time to just write this up report and screw around. all I want to do is to inform potential investors what my experience is and do your research. EquityBuild and Hard Money Company LLC?? I would think twice, just my opinion. nothing is free and if you want to learn your lesson, good luck, but I have paid the tuition for you. There are a few more victims.
When you call the 800 numbers and want to talk to Cohen personally, ask:
-why their hard money loan lending default? is it because the CMA they gave out are inaccurate which is too high that make the borrower hard to refinance?
- why it is difficult to refinance the properties purchased through them?
- why you try to keep people's money that does not belong to you!?
- why you claimed it is not the model of your company to flip the property in huge profit but only administrative charge is added but instead you are flipping properties 3 times higher than you purchased?
after all, guys, GOOD LUCK!!
what is proprietary on rehab work? special ways to make the wall cracks and leave it like that? using dirt cheap used carpet? I leave this to a logical person to answer. Being a claimant does not make you look better if the claim is foolish and invalid.
well, I am reporting the truth and think about it who is making the money? not me, I am losing big on this, why I have to report that? I really have no time to just write this up report and screw around. all I want to do is to inform potential investors what my experience is and do your research. EquityBuild and Hard Money Company LLC?? I would think twice, just my opinion. nothing is free and if you want to learn your lesson, good luck, but I have paid the tuition for you. There are a few more victims.
When you call the 800 numbers and want to talk to Cohen personally, ask:
-why their hard money loan lending default? is it because the CMA they gave out are inaccurate which is too high that make the borrower hard to refinance?
- why it is difficult to refinance the properties purchased through them?
- why you try to keep people's money that does not belong to you!?
- why you claimed it is not the model of your company to flip the property in huge profit but only administrative charge is added but instead you are flipping properties 3 times higher than you purchased?
after all, guys, GOOD LUCK!!
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What's this? #2 REBUTTAL Owner of company
Company response to this posting
AUTHOR: EBpres - (United States of America)
SUBMITTED: Friday, August 12, 2011
The person who posted this is reacting to being named a DEFENDANT in a lawsuit filed by us. In other words, we sued him and his answer is this posting since he has no legitimate defense for his behavior. Because of the ongoing legal case, I am not at liberty to provide more detail in a public forum. For more detail, feel free to call me at 800-261-0648.
Jerry
Jerry
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