ED Magedson – Founder
http://www.property23.com/Orem Utah 84097 Orem, Utah United States of America
Do not do business with these people. They use high pressure sales techniques to fleece investors out of their hard earned money. They dramatically misrepresent their properties and seem to sell them well above their market value. For example, I bought two lots in Arkansas from them for $5,800. It turned out that the market in that area is extremely depressed and the lots are typically selling for $600 to 800 each.
The salesman claimed that they zillowed for $15,000 and that i could sell them easily and quickly for $5,000 each. When I called them back and asked for my money back, they apologetically said they have commissions to pay.
I still get calls from these people every few months from some clueless customer service person asking if I want to buy more property. When I explain what happened, they play dumb and say they can't do anything.
Some of the people I worked with there include Alex Shipp, and Ben Martinson.
I was referred to this company by a company run by Bill Rancic and Dean Graziosi. Apparently they don't investigate the companies they partner with. One of their strategies is to create multiple streams of income by luring in suckers and putting them in front of as many con artists as they can partner with. I assume they get commissions on each transaction, so they're selling you down the river to line their pockets. Rancic and his people do know how to make money in real estate, and will teach you what they know, but will take as much of your money as they possibly can in the process.
One other tactic Rancic, and other sales organizations use is to start calling you right before you get your tax refund.
In short, beware of salespeople in the real estate business - they're very slick and will take you for everything you're worth. Con artists.
This report was posted on Ripoff Report on 01/14/2011 03:09 AM and is a permanent record located here: http://www.ripoffreport.com/r/httpwwwproperty23com/Orem-Utah-84097/property23com-Property-23-P23-Empower-group-USA-empowergroupusa-Real-estate-investmen-682475. 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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