• Report: #188181
Complaint Review:

Homes And Units Network - Virginia Swanson

  • Submitted: Sun, April 23, 2006
  • Updated: Sun, March 25, 2007

  • Reported By:Van Nuys California
Homes And Units Network - Virginia Swanson
1201 N. Pacific Ave Ste 104 Glendale, California U.S.A.

Homes And Units Network - Virginia Swanson Fraudulant advertising of all the properties they will get for you Took money for property they never provided Glendale California

*UPDATE EX-employee responds: Rip off - Virginia is a scam artist

*Author of original report: Homes and Units was sued!


*Consumer Comment: Makes no sense...

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Homes and Units and Virginia Swanson promised to find properties to invest in that needed no down payment and would break-even or positive cash flow plus teach about investing in real estate.

As I found out later there was no way she could have provided those properties in the California market. The reason for paying $5995 was to get into one of these properties not for a few courses which I found to be worthless.

Virginia Swanson also offered for $1000 fee, preconstruction properties that you could get into. The rent was supposed to cover the mortgage.

I was one of the few who entered into escrow on one only to find out I would have been $400-$500 negative cash flow. Most of the other students never even got into one of these properties at all.

Also she is supposed to be the great real estate mentor but doing a title search on her house that she lives in reveals that it is owned by one of her students.

Her daughter Tosca who is supposed to have brought real estate plus her own first house also doesn't own her own house either. It is also owned by someone who was in one of my classes. So much for the great real estate mentor even owning any.

I and several other people have taken her to small claims court and have won our cases. Homes and Units also has a F rating on the Better Business Bureau Website.

Van Nuys, California

This report was posted on Ripoff Report on 04/23/2006 05:51 PM and is a permanent record located here: http://www.ripoffreport.com/reports/homes-and-units-network-virginia-swanson/glendale-california-91202/homes-and-units-network-virginia-swanson-fraudulant-advertising-of-all-the-properties-th-188181. 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 UPDATE EX-employee responds

Rip off - Virginia is a scam artist

AUTHOR: James - (U.S.A.)


I worked for Virginia, helping her students with the financing. I found that very few of her students were able to qualify for investment financing, which is why I left.

For more proof she is a scam artist, check out the Better Business Bureau, www.labbb.org and search for either Homes and Units, as well as 1st Real Estate Team.

Further proof, ask to meet ANY licensed Real Estate person working for her. Then talk to their company and see how many deals they have done for her.

The real estate market has changed. Prices are dropping, and the availability of financing investment property at 100% now requires the buyer to be very well qualified. Anyone this qualified would never be suckered in by the high pressure tactics Virginia uses. Let me explain:

Purchase price $300,000
Monthly PITI payment $2,650

Reserve $31,800
Closing costs $8,000
Required cash $39,800

In order to qualify for an investor loan with 100% financing, the few companies I use for this program require 12 months of reserve. If you don't know what reserves are, it is cash, in the bank for at least 3 months.

If this student Virginia tried to con could not come up with the $6,000 for the discounted price, the same one she has been using for everyone for the last five to ten years, how would she have ever been able to afford the $40,000 necessary?

I did not include in this the $1,000 finders fee Virginia takes from each student for each property she gives to you

If you want to test an individual, check their background. Virginia has now dropped the website homesandunits.com. On her new site, 1strealestateteam.com, she has herself listed as having 25 years worth of experience. On the website for her clubs, and they are her clubs, http://www.investing-in-real-estate-clubs.com, she has only 15 years listed. I have seen these numbers fluctuate between 20 and 30 years in the past. If she cannot get her experience figured out, then how qualified is she really?

Virginia has been sued successfully numerous times in small claims court. In all cases I know about, the student received partial, if not all of a refund.

I strongly suspect that the student responding to the thread is non-existent, another figment of Virginia's imagination. I do not know of any student with this success. What all of us would like is for this student to come forward, name, address, and a verifiable list of the property they bought. I am confused in the reading , is it Mark or Jessica that is the student? Jessica obviously posted it for Mark, why did he not post it himself? Another attempt to deceive people

James - Anaheim, California
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#2 Author of original report

Homes and Units was sued!

AUTHOR: Pam - (U.S.A.)

An employee of Homes and Units called Jessica that I have never met has claimed to have witnessed me being offered a pre-construction deal. This so called imaginary employee also claims that this pre-constuction deal that she "witnessed" would have no negative cash flow. That is what I was told by Virginia Swanson and the literature said the rent would cover the expenses and so I entered into escrow.

While in escrow I asked Virginia to sign an agreement stating that she would cover vacancies and negative cash flow. She did not sign it and instead wanted me to sign an agreement saying quote " The investor will provide the credit satisfactory to acquire 100% finacing. It is required that the investor provide all the financing and have the capabilities to do so. These capabilities extend to making sure that there is no negative cash flow after taxes insurance,maintenance and property management." That sounds like I'm paying for all of it.

Near the completion of the house I repeatedly requested the joint trust documents so that I could have a lawyer look at them. I never recieved them or any real response about it. We did not qualify for the financing and we would have been $400-$500 in the negative if we did.

She keeps claiming that I bought a house from the builder myself. I bought a rental house on my own in another area not affiliated at all with Homes and Units.

I took Virginia Swanson to small claims court to get my deposit back. The judge took a look at the statement above and awarded me all of my deposit.

I also sued her a second time for the VIP program she was running at the time. I was awared a partial judgement of the cost of the program.

Even though I was awarded these judgments, Homes and Units would not pay them and I had to serve a levy on her bank account for one judgement. When she closed that account after my levy, I had to bring her in for a judgement debtor hearing to declare all of her assets to collect my second judgment. I guess she did not want to declare all of her assets so she finally paid.

For all those who want to investigate futher go to the Glendale Courthouse or get it from the internet from the court and look at all the small claims cases filed against her

In fact I'll make it easy. Go to this website. http://www.lasuperiorcourt.org/smallclaims/
and enter these case numbers and enter Glendale as the court. Here are a few of the
Case Numbers
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#3 UPDATE Employee


AUTHOR: Jessica - (U.S.A.)

As an employee of Homes and Units Network, I witnessed the fact that Pam calling herself here Pam of Van Nuys, Ca was offered a preconstruction deal as a joint venture with Homes and Units Network. This property was found by Homes and Units Network and they also promised they would take care of any negative cash flow and that they would make sure the property was filled up with tenants during the period of one year. In other words do all the work for one year. At the end of one year they were to sell the property and split profits. . Pam and Dale, the person she lives with both signed this document.
This was a great deal but Pam had other ideas

Pam didn't go through with the deal she agreed to. She backed out without telling Homes and Units, loosing them money. Pam went behind their back and chose another property with the same builder which Homes And Units had found for her and did a direct deal herself cutting Homes and Units out of their rightful share of the profits. Since this time she has chosen to attack Homes and Units Network in every way she can. She has also gotten others to attack. She should be sued for harassment.

Homes and Units has been a real help to me and people like Pam need to back off and do other things with their life.

I have bought several properties with their help. They are a REAL Hands-On Mentoring system. They work with you every step of the way, unlike other mentor systems that sell you books and tapes and talk to you for only hour a week. Homes and Units Network has been a godsend to me and my husband and it is because of them we have changed our financial lives and can see a light at the end of the tunnel!!
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#4 Consumer Comment

Makes no sense...

AUTHOR: Patti - (U.S.A.)

I have been a student of Homes and Units for a year and they have been wonderful. I have 6 properties now, they walked me step-by-step through everything, just as they say they do. I know many other students that have purchased properties and are also doing well. They have been wonderful! I don't know what this lady is talking about.
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