• Report: #954156

Complaint Review: The Nick Vertucci Companies / Innovative Holdings Group / Nick Vertucci / NV Companies | Ripoff Report Verified™ …businesses you can trust. Nick Vertucci Companies, Inc. brings solutions to the challenges that come with investing in bank owned foreclosures. By overseeing the entire project every step of the way, Nick Vertucci Companies simplifies the process of succeeding in Real Estate investment

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  • Submitted: Fri, October 12, 2012
  • Updated: Thu, October 03, 2013

  • Reported By: Leslie — Malibu California United States of America
Innovative Holdings Group, LLC
1015 E. Chapman Ave., Orange, CA 92866 Orange, CA, California United States of America

Nick Vertucci REVIEW: Customer Satisfaction Commitment: NICK VERTUCCI committed to customer satisfaction, Nick Vertucci has proven and implemented strategic changes to insure clients success, focusing on finding ways to help clients search for new opportunities effectively even in the sort of challenging market we face today.
*UPDATE: Recognized by Ripoff Report Corporate Advocacy Program as a safe business service – NICK VERTUCCI pledges to always resolve any issues, feel safe, confident & secure when doing business with NICK VERTUCCI, Ripoff Report Verified™ as a safe business service.

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EDitor’s UPDATE: Positive rating and recognition has been given to Nick Vertucci Companies/NV Companies/IHG/Nick Vertucci/Innovative Holdings Group for its commitment to excellence in customer service.

Ripoff Report’s discussions with Nick Vertucci Companies/NV Companies/IHG/Nick Vertucci/Innovative Holdings Group have uncovered an ongoing commitment by the company to total client satisfaction. This means that clients can expect that the company will work towards finding a mutually satisfactory resolution to any complaints or concerns. Nick Vertucci Companies/NV Companies/IHG/Nick Vertucci/Innovative Holdings Group listens carefully to client concerns and sees them as an opportunity to learn from past mistakes and become more efficient as a company in the services offered and the support for those services.

Welcome to The Nick Vertucci Companies! from Nick Vertucci | Investor on Vimeo.

Nick Vertucci Companies/NV Companies/IHG/Nick Vertucci/Innovative Holdings Group CEO Mr. Nick Vertucci states that he is committed to proving the best experience and service in the industry. Another top executive of the company told us that Mr. Vertucci’s personal business philosophy is one that is centered around helping the investors become successful and providing them with only the best investment opportunities available. “Nick Vertucci Companies/NV Companies/IHG/Nick Vertucci/Innovative Holdings Group is the best at what we do because we are constantly staying ahead of the real estate investment markets.”

The information provided in this report is based on comments made Jamie Tomlinson during an on-site inspection held by a third party verification company with no biases toward Nick Vertucci Companies.


Nick Vertucci is Ripoff Report Verified
Ripoff Report Verified™ .. part of Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program.A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business..
Nick Vertucci Companies’ vision is to help people get into cash flow properties so that they can benefit from passive income for years to come. Their goal is to educate, support, and encourage investors. Jamie Tomlinson, Vice President of Operations noted: “Our target market is very diverse, from retirees to young single and married people. We pride ourselves in being the best and always staying on top of the cash flow and flipping markets.”

The company mentioned that they acquire leads through word of mouth, their radio show, and through various educational venues. Nick Vertucci Companies mentioned that they personally ensure the end consumer is receiving the best customer care possible during their experience by asking the “right questions” at the beginning. They make sure their investors are educated and actively participating in their success. The company is standardly communicating with the investors in an ongoing basis. Tomlinson mentioned: “All of our investors know we are here for them for the long haul.”

During the course of the onsite interview, Nick Vertucci Companies stated they have little to no complaints. If there is a complaint, Nick Vertucci and Jamie Tomlinson are personally involved with every complaint.

Jamie Tomlinson described an issue regarding a time when a client was not satisfied with the level of service they received: “We had a client post on Ripoff Report and after we spoke with them. They wanted to remove the post but were unable to have it removed.” Tomlinson went on to explain: “Our staff has always had the autonomy to do what they need to do to take care of the customer. Always. Customer Service has always been top notch. We are constantly striving to make sure we are the best.”

Since the company has received complaints on Ripoff Report, they stated they continue to serve their investors at the highest level. Furthermore, they are excited to be a part of the Corporate Advocacy Business Remediation and Customer Satisfaction Program because the feel this step is necessary to build their relationship with Ripoff Report and create even more trust with their investors.

Nick Vertucci Companies/NV Companies/IHG/Nick Vertucci/Innovative Holdings Group / Statements from the owner.

"I will always ensure that my staff is trained, my investors are educated and informed, and that I personally will be involved with every aspect of the business. This I feel creates an environment of open communication, and happy, knowledgeable investors and staff."

Nick Vertucci Companies Testimonials

Investor Testimonial from Nick Vertucci | Investor on Vimeo.

http://www.nvcompanies.com/testimonials/

Nick Vertucci Companies/NV Companies/IHG/Nick Vertucci/Innovative Holdings Group employees are trained, qualified and always willing to do what they need to do to make sure that the investor has everything they need to be successful. Nick Vertucci Companies/NV Companies/IHG/Nick Vertucci/Innovative Holdings Group as a whole is the premier organization to help investors start or to grow their cash flow portfolio.

Nick Vertucci Companies/NV Companies/IHG/Nick Vertucci/Innovative Holdings Group investors feedback is always positive, as they quickly come to learn that they are a part of the family, and that investing with us will be a great experience.

Nick Vertucci Companies/NV Companies/IHG/Nick Vertucci/Innovative Holdings Group recognizes that complaints posted on Ripoff Report (whether true or not) are issues that need to be addressed, not ignored. If handled correctly, complaints can be valuable learning opportunities. With the feedback generated by Ripoff Report’s Investigation Nick Vertucci Companies/NV Companies/IHG/Nick Vertucci/Innovative Holdings Group has made organizational changes allowing its clients and employees a more streamlined approach to problem resolution and a commitment to a great client experience.

NV Companies Webinar from Nick Vertucci | Investor on Vimeo.

In summary, after our investigation, which included discussions with Mr. Vertucci, and many of his past and current associates, Rip-off Report is convinced that Nick Vertucci Companies/NV Companies/IHG/Nick Vertucci/Innovative Holdings Group is committed to quality delivery of services resulting in total client satisfaction.

Read more about why consumers should feel confident when doing business with a member of Rip-off Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. Yes, it’s a long name for a program that does a lot for both consumers and businesses alike.

Read about Rip-off Report Corporate Advocacy Business Remediation & Customer Satisfaction Program,.. A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. this program works.

As a matter of policy, when a business becomes a member of the Corporate Advocacy Program they agree to allow Ripoff Report to contact every client who filed a complaint so they can make things right with them. In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses so we can insure that the member business did right by their customer.

NOW TO THE ORIGINAL REPORT THAT WAS FILED

--------------------------------------------------------------

Innovative Holdings Group, LLC Nick Vertucci IHG and Nick Vertucci trapped me into "purchasing" two section 8 HUD properties in 2008 but which I never really owned. I paid over $8000 in consulting and other out of pocket expenses for properties Orange, California

IN 2008, I purchased through Innovative Holdings Group, LLC two HUD section 8 properties in Detroit, Michigan. IHG's process involved a "hard money" locan which turned out to be a promissory note disguised as a mortgage. Having lost by job during the 90 day period of capital improvements, I was not granted the "refinancing" mortgage required to actually "own" the properties. I was told that I was stuck with a $100,000,000 mortgage since the work was completed and yet I could not longer qualify for the mortgage.

I was out of pocket over $8,000 on these two properties which included consulting fees, title searches, and all the other expenses that needed to be paid at closing. Because of my own investigations I learned that the $100,000,000 IN MY NAME was in fact a loan on the property by a private equity firm. The principal of the firm who I had been forbidden to contact finally told me that the foreclosure would be on the properties (on IHG) and not on me personally. The capital promissory note for renovations was actually on IHG since I was told that this kind of "mortgage" follows the property. I had requested getting of the deal for several months and it turned out that I could have been removed from the contract at any time (as told to me by the private equity company holding the loan.

At his suggestion I signed over the properties (which I did not own as I thought I did) to Nick Vertucci and IHG which relieved me of the obligation of the note. However, I spent or wasted $8,000 on deceptive counsulting (IHG) and closing costs. Since I never really owned the property, I was being used by IHG to pay for their properties and the capital improvements if I had let them foreclose on me or tried to continue making payments (fortunately-I was smart enough not to pay any more money after I found out that I could not refinance the properties). I offered a negotiation with IHG at a $3500 loss to me (app. half) which they refused.

I have not filed a small claims court action but the service is proving difficult however I will pursue the case until I have been made whole again.

This report was posted on Ripoff Report on 10/12/2012 12:24 PM and is a permanent record located here: http://www.ripoffreport.com/r/Innovative-Holdings-Group-LLC/Orange-CA-California-92866/Innovative-Holdings-Group-LLC-Nick-Vertucci-IHG-and-Nick-Vertucci-trapped-me-into-purch-954156. 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.

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

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REBUTTALS & REPLIES:
0Author 1Consumer 1Employee/Owner
Updates & Rebuttals

#1 UPDATE EX-employee responds

Corroborating Owner's Story

AUTHOR: Jane doe - (U.S.A.)

As a formal principle in Innovative Holding Group and partner with Nick Vertucci I would like to corroborate his side of the story.  Here are the facts:

1. Lesli Fox signed a written agreement to purchase two properties in Detroit, MI.  IGH agreed to assist her with acquiring the property, rehabbing the property an help her finance the entire deal using a short term hard money loan and later permanent long term financing.

2. At the time she signed the agreement we had her send her tax returns to our lender to make sure she would qualify for long term financing so that the short term loan could be paid off.   We take this step to make sure that investors who use a hard money loan can in fact refinance and qualify for permanent financing.    Our accountant said because she had a job and steady income for the past two years it would not be a problem. 

3. Leslie in fact did sign loan documents for the short term hard money loan.  No one forced her to sign those documents.   She fully understood this was a short term loan that would be paid off within 90 days. 

4.  During the 90 day period that the house was being rehabbed Leslie was fired from her job.   Because she was fired, our preferred lender was not able to obtain long term permanent financing because he could no longer verify she was working.   This unfortunate circumstance was beyond our control and no fault of our company (nick and IHG).   

5.  Unfortunately for Leslie, she was legally obligated to pay off the hard money loan which if she had the cash she could have and owned 2 rental properties free and clear.

6. IHG (Nick) had zero legal obligation to take back the properties and sell them to a new investor so that Leslie's hard money loan could be paid off and she could be freed from any legal obligation.  However, because we had a good relationship with the hard money lender, IHG agreed to help her. 

7. One thing Leslie failed to mention is that she stalled and did not quit claim title of the properties back to IHG for months which did not allow us to sell them to new investors.  Because she was uncooperative the hard money loan accrued more interest than necessary.   This cost was NOT passed to Leslie but was absorbed by IHG (under no legal obligation). 

8. After we finally moved the 2 properties to new investors Leslie decided that her initial consultation fee that she paid to IHG should be refunded.   This totaled $8,000.    

9. IHG performed exactly what was laid out in the written agreement that she signed.   A small claims court has recently ruled that he agrees with this assessment 100% and ruled in IHG's favor.  

10.  Leslie fails to understand that not only did IHG eat all the additional fees on the hard money loan, but we also waived our consulting fee to the new investor because of the additional costs of owning these properties (to make the numbers work).  This cost us an additional $8,000 that we would have made by selling those new investors 2 completely different properties.   In reality IHG lost $12,000 in this transaction by helping Leslie out of her situation. 

11. Leslie has taken zero responsibility for her role in this transaction.   IHG has gone above and beyond what 99% of investment companies would have done.   Most would have said "that's your problem now, not our" and would have let her be foreclosed on by the hard money lender. 

I hope readers realize that it too easy to go online and write slanderous comments about an investment that did not go perfectly.   IHG and Nick Vertucci has built a reputation of doing the right thing 100% of the time. Our name and integrity have held up since it's inception in 2007.   IHG has helped hundreds of investors acquire real estate that is increasing in value and providing monthly passive income.  
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#2 REBUTTAL Owner of company

SETTING THE RECORD STRAIGHT

AUTHOR: Nick - (United States of America)

The record needs to be set straight and maybe this will even help the reporting person understand as well. The reporting preson is Leslie Anne Fox who purchased two investment properties in 2008 from our company.

Leslie contacted us vetted us and asked to buy two properties. What Leslie is trying to articulate on the structure of the deal is this. 

Back in 2008 investors used a strategy of buying property using a hard money lender to short term buy and rehab the property until permanant financing could be put in place to take out that short term loan. So simply put a short term private money loan was borrowed by Leslie and she was suppose to take that loan out with a long term mortagage. Pretty common.

Our company helped Leslie qualify for the short term loan and we also made sure her long term financing was securly in place as well. What Leslie so conveniently forgot to mention is in this process she lost her job !!! She was let go ! Now Leslie could not qualify for her long term financing anymore. So she was stuck in her short term loan.

Ok so here was solution. Now understand this was not in our control and Leslie was accountable for these loans NOT US! So in good faith we told Leslie we would help her. We said we would re-sell her properties for her at no charge or costs. But Leslie wanted us to pay for all her carrying costs in her short term loan. We explained to Leslie that those were her costs and we didnt fire her from her job someone else did. She would not accept these terms at first and continued to rack up carrying costs on her own behalf.

Eventually she agreed and understood her situation was her won and not ours. We re sold her properties and made NOTHING !!! To help her situation.

So do you think Leslie was grateful? NO she was not. As she mentioned four years later she filed a small claims lawsuit against us. claim # SM 12A01808 and demanded 8,000.00.
Leslie unfortunately has no case and the judge was dumbfounded why she would sue us considering we helped her because he understood the facts. So Leslie lost her unfounded plea. 

Now Leslie has the nerve to post this slander. Unfortunately for Leslie she will be hearing from our attorneys. Because lets face it if you read these posts it may detour you from working with us. And we lose and you lose out on one of the greatest investing systems in the business.

Again its very unfortunate that ANYONE can post ANYTHING with no facts and try and hurt ones reputation.

I hope the rebuttal helped.

Respectfully,

Nick Vertucci   
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