- Report: #677291
Report - Rebuttal - Arbitrate
Complaint Review: Norada Real Estate
Norada Real Estate30251 Golden Lantern, Suite E-261 Laguna Niguel, California United States of America
Norada Real Estate 360 Enterprises - Do Not Invest - You WILL Lose Your Money Laguna Niguel, California
*REBUTTAL Owner of company: NOT TRUE!
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I met Marco Santarelli of Norada Real Estate several years ago and I really wish I hadn't. He comes across as a nice guy but he is no different than the pick-pocket who looks you in the eye and smiles while taking the contents of your wallet. The investments that Marco encouraged me to make cost me a small fortune (over one hundred thousand dollars of losses). To get out of the horrendous deals that he put me in I had to negotiate short-sales with the banks and destroy my credit which was previously perfect.
Marco is an expert in one thing only - marketing. He know how to market his investments and products so that they look incredible. I relied on his materials because he presented a lot of information that looked very credible and he is a convincing salesman. I would advise people not to believe anything he says or writes unless it can be independently verified by a third party.
His specialty is putting together investment deals where it looks like he has done all the work in lining up builders, mortgage companies, realtors, management companies etc. In fact he is getting commissions from all of those companies and they are therefore not likely to be acting in your best interests. I was told that specifically by a builder who had to pay a fee to Marco and couldn't believe that I had also paid a fee to Marco for putting the deal together. In other words, Marco tries to take money on the front and back end of each deal!
Marco portrays himself as a real estate investment expert and even came up with a system for scoring deals called "DealGrader". Of course all of his deals have a high scoring on his own DealGrader system! Furthermore, his own real estate investments have tanked and that is probably why he was forced to rip off other investors - he needed the cash to fund his own loss making investments.
Marco's original company "360 Enterprises" went bankrupt as a result of the poor real estate investments made by him, but he was able to continue operating as Norada Real Estate by creating a new company and filing a DBA.
In summary, I can't stress strongly enough how much I would advise anyone to stay away from Norada Real Estate, Marco Santarelli or any company that he is associated with.
This report was posted on Ripoff Report on 12/31/2010 01:20 PM and is a permanent record located here: http://www.ripoffreport.com/r/Norada-Real-Estate/Laguna-Niguel-California-92677/Norada-Real-Estate-360-Enterprises-Do-Not-Invest-You-WILL-Lose-Your-Money-Laguna-Nigu-677291. 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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