• Report: #244527

Complaint Review: Norada Real Estate Investments VERIFIED TRUSTED BUSINESS | Ripoff Report Verified™ …businesses you can trust. Norada Real Estate Investments helps take the guesswork out of real estate investing. Norada Real Estate Investments researches top real estate growth markets, structuring complete turn-key real estate investments. Norada Real Estate Investments help you succeed by minimizing risk and maximizing profitability.

  • Submitted: Tue, April 17, 2007
  • Updated: Sat, June 18, 2016

  • Reported By:reno Nevada
Norada Real Estate Investments TRUSTED BUSINESS | Ripoff Report Verified™ …businesses you can trust. Norada Real Estate Investments helps take the guesswork out of real estate investing. Norada Real Estate Investments researches top real estate growth markets, structuring complete turn-key real estate investments. Norada Real Estate Investments help you succeed by minimizing risk and maximizing profitability.
30251 Golden Lantern, Suite E-261 Laguna Niguel, California U.S.A.

Norada Real Estate Investments VERIFIED TRUSTED BUSINESS REVIEW: Norada Real Estate Investments is dedicated to total customer satisfaction. Norada Real Estate Investments takes a serious and holistic approach to building their long-standing brand.
*UPDATE: Norada Real Estate Investments pledges commitment to Ripoff Report Corporate Advocacy, Business Remediation & Customer Satisfaction Program. A program that benefits consumers, ensuring complete satisfaction, confidence when doing business with a member business. Norada Real Estate Investments recognized by Ripoff Report Verified™ as a safe business service.

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Ripoff Report Verified™ REVIEW

EDitor's UPDATE: Positive rating and recognition has been given to Norada Real Estate Investments for its full commitment to quality customer service.

Ripoff Report's discussions with Norada Real Estate Investments have uncovered an ongoing dedication 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 concerns. Norada Real Estate Investments 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.

Norada Real Estate Investments’ principal, Marco Santarelli, has informed us that his personal philosophy is that his clients success are the heart of the business. As a successful businessman, Mr. Santarelli feels it is critical to listen to his clients and respond properly. By always putting his customers first, Mr. Santarelli hopes to maintain Norada's successful company both now and for many years to come.

One of the things Ripoff Report learned in the course of its review is that typical customer feedback reads, "Norada Real Estate Investments truly communicate all aspects of the service in a timely and effective manner. We are very pleased with the responsiveness that the employees show us. They are serious about meeting commitments, and deliver on their promises."
Norada Real Estate Investments 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..



The information provided in this report below is based on comments made by Marco Santarelli during an onsite inspection held by a third party verification company with no biases towards Norada Real Estate Investments.

Norada Real Estate Investments is a provider of turnkey income properties. They have clients from all around the world, but mainly in the United States that buy rental properties from them in different markets. These newly constructed or newly renovated properties typically already have tenants in place as well as property managers. Marco Santarelli stated the following about his company, "we make it very simple for investors to build a real estate portfolio from these properties. We've been doing it for over 12 years, and we keep the model very simple."

Leads for Norada Real Estate Investments come from several different avenues including online marketing, referrals, and social media. Interested real estate investors that have questions or have interest can reach Norada Real Estate Investments through phone or email. From there an investment counselor will reach back out to them to set up a one hour block to do what is called a strategy session. Mr. Santarelli explained, "we find out what their investment goals are, what their investment criteria is if they have one. If they don't we'll help them build that up. We're just looking to see if we can help them build their real estate portfolio through properties and markets they’re in right now."

CUSTOMER CARE & COMPLAINT RESOLUTION – NORADA REAL ESTATE INVESTMENTS

During the onsite interview Mr. Santarelli was asked to describe a situation where a client was not satisfied with the level of service they received. Mr. Santarelli expressed that they rarely received complaints due to their excellent communication. However, occasionally they have an issue with the property manager or tenants. Norada Real Estate Investments is the primary contact for their clients in regards to issues of this nature, "we look into it. If it's an issue with the property manager we will contact them and work it out. If it's a problem with the builder or the rehabber we will contact them and get it fixed. So 99% of the time there is a resolution."

When asked to comment on complaints posted on Ripoff Report's website Mr. Santarelli explained that a gentleman purchased a property through their services with the intent of flipping it. However, since the real estate market topped out he was upset because no parties where interested in purchasing his home. He reached out to Norada Real Estate, and they helped him with the process, but he still posted the complaint on Ripoff Report's website. In order to assure future and current clients Mr. Santarelli is a California Real Estate Broker with several years of experience, and the desire to work with customers to satisfy their needs.

When asked what type of changes they have made to honor their commitment to make things right with the consumer per the request of Ripoff Report, Mr. Santarelli stated, "we collect more data, track more data, we have better communication with our clients. We have a lot of technology and tools in place to do that. We have written documents like our purchase process, a checklist which they can go through and check off as we go along with the process."

Norada Real Estate Investments is proud to be a part of Ripoff Reports Corporate Advocacy Business Remediation and Customer Satisfaction Program.



NORADA REAL ESTATE INVESTMENTS - STATEMENTS FROM THE PRESIDENT – MARCO SANTARELLI

" Norada Real Estate Investments's team have expressed that they feel very confident and enthusiastic in doing their work. They are all passionate about real estate and investing, and love helping others achieve the same success. Norada Real Estate Investments takes employee satisfaction seriously as well. Employee feedback and surveys reveal comments such as this, "Norada provides a very positive environment to work. Opportunities for suggestions and improvements are encouraged. Mr. Santarelli is truly concerned about our contribution to the company and providing growth opportunities for us. He takes the time to listen and communicate with employees and customers."

Ripoff Report was pleased to learn that Norada Real Estate Investments's past and current approach to business is focused on its pledge to total commitment towards client and employee satisfaction.

STATED IMPROVEMENTS FROM NORADA REAL ESTATE INVESTMENTS

Norada Real Estate Investments 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 review, Norada Real Estate Investments has made organizational changes allowing its clients and employees a more streamlined approach to problem resolution and a commitment to a great client experience.

In summary, after our review, which included discussions with Marco Santarelli, Ripoff Report is convinced that Norada Real Estate Investments is committed to quality delivery of services resulting in total client satisfaction.



How does a business get Ripoff Report Verified™

The member business allows Ripoff report to email everyone from the past. Those who respond to Ripoff report with a valid complaint must be take care of.. they have made a commitment that if anyone contacts Ripoff Report in the future, they will make things right within 14 days. The member business must err on the side of their customers. Otherwise the member business is off the program.

Ripoff Report has determined that Norada Real Estate Investments meets Ripoff Report Verified™ standards which include a commitment to make a good faith effort to resolve any consumer complaints. Members of the Corporate Advocacy Business Remediation and Customer Satisfaction program do pay a fee for our on-site review, 24 hour monitoring and for support with customers to resolve any disagreements.

Ripoff Report sends a 3rd party service to do an onsite inspection of the new member business. The on-site inspection / review does not mean that the products or services offered by the business have been evaluated or endorsed by Ripoff Report, and has not made a determination as to the business' product quality or competency in performing services. We can verify, that Ripoff Report went to the business, verified their business or “work from home business”, there for, if a customer in the future does not get treated correctly, Ripoff Report can get the problem resolved. If not, and the customers is right, the member business will be taken off the Corporate Advocacy Program. Remember, Ripoff Report emailed every customer from the past that filed a complaint to make sure the member business made things right with customers from the past. Again, to err on the side of their customer, those from the past and those in the future.

Read more about why consumers should feel confident when doing business with a member of Ripoff 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 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. 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

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Norada Real Estate Laguna Niguel, California

ABOUT THE RIPOFF REPORT BELOW:


Ripoff Report would like to let readers know that Ripoff Report emailed this customer so the member business could make things right with them. When a business joins the Corporate Advocacy Program, Ripoff Report emails everyone from the past so the member business can make things right with them. Of course, everything within reason. 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. The author of the Ripoff Report below never responded to our offer to help them.


STATEMENT FROM NORADA REAL ESTATE INVESTMENTS:


The person's issue was addressed in detail in my response on the site.


NOW TO THE ORIGINAL REPORT THAT WAS FILED


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I want everyone to beware of Norada real estate in Laguna Niguel Ca, I made the mistake of trusting them with my money. I gave them $14.000 down for 2 lots in Weeki Wachi Florida, 7k each, The deal was to split the costs and profits 50/50. On one lot they could not get financing for and not for any fault of mine, my credit score is 800+,I gave them the benifit of my doubt for a year to see if they could get it together and then I asked for my money back, I was told three times I could get my money back since they were having this problem. At first Marco Santorelli said I could get it back only after I invested more money in his company, he told me how great things are in the Florida market, I did my own investigating and had a friend go down there and he found out none of what Marco said was true. All of this from a man I had met in person and thought of as a honest friend. After 4 months they wont still havent returned my money. Now that the market has dropped he wants me to release him from the partnership, He said that anything on his previous website or in the contracts doesnt matter now because the market is bad. He said he cannot honor his original contract because he cant afford it. He was supposed to pay half of the monthly payment. Everything he told us and showed us on his website he went back on. I cannot even lease the property for what the payment on the loan is and If I sell it I will have to pay a pre payment penalty he had put in the loan. I am not the only one this has happened to, I know 5 others personally and know of severak others. I am disabled, on disability and he steels my money. I have proof of this ordeal with my emails and legal documents. I would sware to this on a bible. I welcome anyones questions or suggestions about this situation. If Marco Santorelli makes good and honors his original deal I will gladly notify Rip off report to update report but I doubt Marco is a stand up guy. Sherm reno, Nevada
U.S.A.


This report was posted on Ripoff Report on 04/17/2007 09:42 PM and is a permanent record located here: http://www.ripoffreport.com/r/Norada-Real-Estate-Investments-TRUSTED-BUSINESS-Ripoff-Report-Verified-businesses-you-can-trust-Norada-Real-Estate-Investments-helps-take-the-guesswork-out-of-real-estate-investing-Norada-Real-Estate-Investments-researches-top-real-estate-growth-markets-structuring-complete-turn-key-real-estate-investments-Norada-Real-Estate-Investments-help-you-succeed-by-minimizing-risk-and-maximizing-profitability/Laguna-Niguel-California-92677/Norada-Real-Estate-Laguna-Niguel-California-244527. 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.

Click Here to read other Ripoff Reports on Norada Real Estate Investments TRUSTED BUSINESS | Ripoff Report Verified™ …businesses you can trust. Norada Real Estate Investments helps take the guesswork out of real estate investing. Norada Real Estate Investments researches top real estate growth markets, structuring complete turn-key real estate investments. Norada Real Estate Investments help you succeed by minimizing risk and maximizing profitability.

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Updates & Rebuttals

#1 Consumer Comment

Avoid Norada & Marco Santarelli at all Costs

AUTHOR: Dissatisfied Customer - (USA)

I also have had the great misfortune of encountering Marco Santarelli and Norada Real Estate. I wish I had never met Marco because the real estate "investments" he put me in have cost me hundreds of thousands of dollars. Marco appears to be a nice guy but in fact he is pushing shady investment deals that he knows have no hope of ever making any money and are unlikely to ever even recoup their initial investment costs.

Marco has responded to some of the comments here as an "ex-employee". That is not true. He is the owner and ONLY EMPLOYEE of Norada Real Estate. Note that Norada is a DBA (Doing Business As) thatMarco can re-create whenever he bankrupts a company. For example, Norada was the DBA of 360 Enterprises but 360 was forced into bankruptcy. Immediately Marco started a new company and filed a new DBA so that, to the outside world, it looks like Norada has continued in business for many years. This can be confirmed by searching the California Secretary of State website and the Nevada Secretary of State website.

In summary - avoid Marco Santarelli and Norada Real Estate at all costs. I only wish someone had given me the same warning before Marco caused me such huge financial and emotional distress. Marco has ruined many lives - don't let him ruin yours.

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#2 Consumer Comment

I agree with Sherm

AUTHOR: Investor - (U.S.A.)

My experience with Marco is very similar to Sherm's. As the sole proprietor of 360 Enterprises, I believe Marco is directly responsible for the actions of the company. Therefore, any reference to 360 Enterprises reflects the expected outcome you may have investing with a company he manages.

It is easy to blame a market failure when you make risky investments, what is not easy to explain is the way a management company handles the downturn and the investment. Marco completely missed several critical deadlines for loan applications that ended up costing us over $25,000 in additional principal. He then connected us with what I would consider shady and unprofessional companies who were able to "service" our loans, rentals etc. I am convinced he received kickbacks from these various companies.

We never received any financial support for any investment we held with him, even though it was clearly stated in the contract. Now that 360 Enterprises has been closed, we hold the entire cost of this.

I am not alone with this either, we know several other investors who were wrapped up in the false hope provided by Marco.

Please beware.
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#3 Author of original report

Marco Santorelli tries again

AUTHOR: Sherm - (U.S.A.)

Again Marco Santorelli tries to make this situation look like he was not at fault or responsible for hurting people financially for his capitol gain, making a reply to this complaint by saying he is an ex employee. When I first started looking into this investment he was the sole representitive of the packages he has put together and still does, we were not to talk to any one but him about the investments. When he wouldnt answer my emails or phone calls his secratary told me he is the only one who could answer my questions and Marco himself told me there were things he did not want his secratary knowing. I have the emails saved of him saying this. This is the second time he has called me a bitter investor, he can think what he wants, I have made thousands in foreclosers so I dont care about the money he scammed from me I needed more tax write offs anyways except that he is lying to people still, he did not return any of my money, there are lawsuits and liens left and right because of him.

NOW HERE IS SOMETHING ALL OF YOU NEED TO REMEMBER, I live in reno nv and in this small town alone there are 16 people I know who have had the same thing happen to themby marco. If you think I am making this up email me and I will give you the names of people who got screwed by marco santorelli and not 360 enterprises.

I know marco is still trying to make money doing the same thing under another name because I am still on his mailing list and get these scam offers all the time.
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#4 UPDATE EX-employee responds

Response to False Accusations from a Bitter Investor

AUTHOR: Norada_real_estate - (U.S.A.)

We can truly empathize with Sherm's situation. It has been an unfortunate time in the market for many people. The slow markets, rising interest rates, and lack of lender confidence have created increasing difficulty for real estate professionals at every level.

For the sake of clarity and accuracy, it must be pointed out that any and all references to Marco in Sherm's complaint are in fact with 360 Enterprises one of the corporations under the Norada brand that held the management agreement related to his investment.

Although Sherm was fully refunded the balance of his account, over time 360 Enterprises found itself in a serious financial hardship due to the worsening market conditions. That was certainly not planned and there was no way of contemplating the effects that the softening markets would have. That put the company in a situation where it was incapable of splitting expenses and unfortunately forced 360 Enterprises into bankruptcy.

In short, there was no scam. Every investment carries risks. It is the responsibility of each investor to do their due diligence before deciding to invest. If market conditions had not changed so quickly Sherm would have made a decent profit. 360 Enterprises did everything it could to continue servicing the management agreements up until the point where it could no longer continue to do so.


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#5 Consumer Suggestion

Re: Norada Real Estate files bankruptcy !

AUTHOR: Online Consumer - (U.S.A.)

Thanks for providing me with this information! I'll continue to carefully select who I choose to invest with; luckily I've invested not one penny into this company.

These situations are unfortunate (where people have ended up being scammed out of their money). Thank God for people like you and others here to give the world a heads up on Norada.
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#6 Author of original report

Norada Real Estate files bankruptcy !

AUTHOR: Sherm - (U.S.A.)

Marco Santorelli of Norada real estate has filed bakruptcy, found this out on Sep 19, 2007 from one of the people that not only invested in his real estate scams but gave him $28,000 to help him with his business.
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#7 Author of original report

Warning!!

AUTHOR: Sherm - (U.S.A.)

I have contacted the California and Florida Real Estate agencys and they have no record of Marco Santorelli or Norada Real estate having a license. Obviously if Donald Trump was aware of there business practices they would have nothing to do with him.
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#8 Consumer Comment

Response to Original Poster

AUTHOR: Online Consumer - (U.S.A.)

I am interested in investing with Norada ($500 down investment for property in Ocala, FL and any other investment opportunities that they may have like this one).

They're one of the real estate investment companies registered for the Real Estate Wealth/Trump Expo that'll be taking place throughout the country over the next 8 months. So you're telling me that a scam real estate company can register for this real estate expo??

Here's the link: (((link redacted)))

CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.
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