• Report: #937030

Complaint Review: Stacy Kellams Tax Sale Arbitrage

  • Submitted: Wed, September 05, 2012
  • Updated: Fri, December 28, 2012

  • Reported By: Louis — Cleburne Texas United States of America
Stacy Kellams Tax Sale Arbitrage
Internet United States of America

Stacy Kellams Tax Sale Arbitrage Netcentric Publishing Huge Ripoff Scheme Internet

*Consumer Comment: Tax Sale Arbitrage

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For several months I listened to internet real estate programs by Stacy Kellams.  I was impressed.  He seemed knowledgeable and acted like he wanted to genuinely help people like me.

Finally I ordered his "tax sale arbitrage" system, as it seemed like something I could do that wasn't too complicated.  He listed the %'s that could be earned from each state, and it really sounded like it would be a good investment.

So I sent $995 to him, and soon three manuals arrived.  When I looked at the %'s available from each state, they were far below the 40% profit that Kellams claimed was possible. There are a few states that allow that much return, but they were the exception, not the norm.

I decided to return the material and get my $995 back, all based on the promise by Kellams that money would be cheerfully refunded if I did not want the system after examining it.  I called their 800 number, and a young lady said she would sent me a sheet to fill out.  It arrived, I filled it out, and now they don't answer their phone and they certainly haven't returned my money.

It is now very clear to me that Stacy Kellams is a sham and a huckster.  I wish I had checked this site before ordering.  My recommendation - don't ever do business with Stacy Kellams.  He is a fraud, in my opinion.

This report was posted on Ripoff Report on 09/05/2012 09:01 AM and is a permanent record located here: http://www.ripoffreport.com/r/Stacy-Kellams-Tax-Sale-Arbitrage/internet/Stacy-Kellams-Tax-Sale-Arbitrage-Netcentric-Publishing-Huge-Ripoff-Scheme-Internet-937030. 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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#1 Consumer Comment

Tax Sale Arbitrage

AUTHOR: Robert Lett - (United States of America)

The bad thing about this idea is this: Many state laws state that at the time of the auction filing, whom ever is on title, is the one that will get the overage money. So if you can't get the individual to send you the finders fee, you're out of luck. The courts will ignore any documents the claimant and you have signed after the filing. And you will have no right to take them to collections. It's almost better to buy the property for an amount under value, let it go to auction and receive the difference. Remember, if the individual has a 1st and a 2nd, they will be satisfied before any money goes to you, so do a good title search before even thinking about this.
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