ED Magedson – Founder
Home Buy Advantage, LLC41936 Edenbrooke Dr Canton, Florida USA
Home Buy Advantage, LLC Deceitful and reckless with your money. Canton Florida
When the housing market was hot, a new type of investing seemed to be getting a lot of attention. Providing hard money loans for guys flipping houses with your IRA money and receiving the returns tax free. Looked good on paper until the market came crashing down. Brian Gray was one of those guys who would invest in real estate and then flip the house supposedly paying above average interest rates and secured by the house the itself. Brian claimed to have exit strategies if anything were to south. Brian borrowed 20k from my IRA, held by a custodian, that is authorized to invest retirement funds directly into real estate. When the note came due after two years he owed me the 20k back plus two years of interest. I sent him the payment slips to deposit the funds back into my account and nothing happened. I was unable to contact him for quite sometime and the found out that the house had be foreclosed on. Unfortunately, I was the second loan on the house and the first loan foreclosed and I was not notified. Whoever was in first position took possession of the house and I was left with nothing, not a phone call or a heads up it was coming, just nothing. Finally, I was able to get Brian on the phone and he confessed to me that things went south and he promised to pay me back since he explained to me that he morally owed me the money and wanted to pay me back. Well, it is several years now since that happened and Brian has failed to pay me back. I did contact a lawyer, but there was nothing that could be done on my behalf. Brian's company used to be called Serenity Funding and is now called Home Buy Advantage, LLC. Do yourself a favor and stay away from this guy. He will swindle you out of your retirement. He makes promises he can't keep and then like most crooks you can't get in touch with them after they've taken your money.
This report was posted on Ripoff Report on 05/09/2013 06:52 AM and is a permanent record located here: http://www.ripoffreport.com/reports/home-buy-advantage-llc/canton-florida-48187-3946/home-buy-advantage-llc-deceitful-and-reckless-with-your-money-canton-florida-1049528. 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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