Report: #1386732

Complaint Review: Commercial Funding and Asset Acquisitions LLC

  • Submitted: Wed, July 19, 2017
  • Updated: Wed, July 19, 2017
  • Reported By: apcc136@yahoo.com — Dallas Texas United States of America
  • Commercial Funding and Asset Acquisitions LLC

    Internet
    USA

Commercial Funding and Asset Acquisitions LLC Team Realty Team Rehab Mark Pascua Mortgage Consultant Brian Woods Realty I, along with several investors, gave money that this company squandered that was supposed to be used to rehab houses West Palm Beach Florida

*REBUTTAL Owner of company: Response To Unfounded Allegations

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These companies represented that they were experts in buying and fixing distressed houses and they were able to attract many investors who invested tens of thousands of dollars.

These people change the names of their business entities to avoid having to pay the money back to the investors.

They are unprofessional, arrogant, stupid, and incompetent and they know how to scam people out of their money.

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This report was posted on Ripoff Report on 07/19/2017 02:48 PM and is a permanent record located here: http://www.ripoffreport.com/reports/commercial-funding-and-asset-acquisitions-llc/internet/commercial-funding-and-asset-acquisitions-llc-team-realty-team-rehab-mark-pascua-mortgage-1386732. 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. READ: Foreign websites steal our content

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

#1 REBUTTAL Owner of company

Response To Unfounded Allegations

AUTHOR: Brian Woods - ()

It is unfortunate to have to defend our good names from parties emotionally "shooting from the hip" or hiding behind anonymous blogs, but it is a fact of today's business world. While actionable as under laws dealing with defamation through libel, it is not worth pursuing---in business you must many times rise above parties such as this.

As to addressing the substantive matters “alleged”, statements of "changing names of companies" as indicated by this reply we are not going anywhere and have not changed company names (the party may be confused in regards to our practice of protecting "partners", as well as ourselves, by using special purpose limited liability companies to hold each individual property, insulating each property from issues that may arise with other properties). We stand by our business practices and would note that many of our "partners", such as this person, played active roles in the selection of properties, as well as rehabilitation and remodeling (to optimize potential sales price) process. These "partners" didn't just "walk in off the street"; many have owned multiple properties themselves, and subsequently made referrals or suggestions as to who to use in the rehabilitation process, which unfortunately caused a lot of the unanticipated delays when the parties they referred and vouched for turned out to be less than credible or proficient, impacting completion time AND cost to complete rehabilitation when we had to replace parties they had recommended. Said economic and cost issues were compounded by a down turn in the marketplace, as well as constriction in credit availability which became an issue in having to seek additional funds to pay for cost overruns engendered by using their unqualified recommended parties. What this party failed to comprehend is that we, as the major owners of interest in said properties, were really impacted by the factors mentioned above, with our "majority" of interest proportionally losing greater value than theirs. While we don’t want to perpetuate this diatribe, we were really disillusioned that one of the parties we were “partnered” with and who made recommendations, as well as volunteered to oversee progress, was a licensed project manager who inherently we thought we could rely upon! Just goes to show the old adage, “if you want something done right…”.

I hope this has helped clarify matters, probably not to the satisfaction of the party who wrote the unfounded allegations, but to others who may have had questions.

 

Sincerely,

Brian Woods and Mark Pascua

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