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Report: #626428

Complaint Review: Kam Investment Group - Encinitas California

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  • Reported By: Bonnie — Apple Valley California United States of America
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  • Kam Investment Group 1042 N El Camino Real Suite B-343 Encinitas, California United States of America

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I answered an add that said you could rent to own a home for $995 a month and zero down. They sent me to a web site to choose a house. The house I chose on Rancherias in Apple Valley said $995 a month, zero down, almost one acre, great home, great area. The house in the pictures was surrounded with trees. They ask me why I chose the house and I said I liked the trees and the price. They never told me they had cut down all the trees. Then they told me it would be $1095 a month and $2000 down, not what the add said. I made an appointment to see the house at 1:00 pm after I drove an hour to get there. They never showed up until 6:30, after dark. They kept calling me telling me they were on their way. I signed the papers in the dark, paid $3095 and took the keys. They want me to buy this house for $295,000 when it's value is $76,000. They did not tell me the roof leaks in the bedroom and family room. The paint is peeling off the ceiling in the family room and is moldy in the bedroom. When I plug in something in the kitchen and two bedrooms it sparks. The garage leaks so bad, all the cartons of personal items stored there are moldy and ruined. They did not tell me the roof leaked. They refuse to pay for my losses. All my kids baby pictures from birth to age 20 are ruined. Collections of Christmas Halmark ornaments from 1976, ruined. Collector dolls, cars, toys, all ruined. Winter clothes and coats, ruined. They did not tell me a drug dealer lived next door, or a gang member. They told me last month, I could save postage and money order fees by paying my rent with pay pal. I did and received a past due notice for $32.06 for pay pal fees. They did not tell me about the fees, nor would I pay $32.06 to save less than a dollar in postage and money order fees.

This report was posted on Ripoff Report on 07/24/2010 06:36 PM and is a permanent record located here: https://www.ripoffreport.com/reports/kam-investment-group/encinitas-california-92024/kam-investment-group-877ezownnow-rent-to-own-zero-down-scam-encinitas-california-626428. 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:
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0Employee/Owner

#11 Consumer Comment

Hot Off The Press

AUTHOR: anonymous - (United States of America)

POSTED: Sunday, February 19, 2012

Kevin Wells and 877ezownnow.com, Inc are now being sued for fraud in San Diego county, as of 02/06/2012.  Case number 37-2012-00050639-CU-FR-NC.

Henny Den Uijl vs Kevin Wells.

Plaintiffs:
Henny Den Uijl
Sandra Den Uijl
Zodiac Foundation, LLC

Defendants:
Kevin Wells
Marilyn Wells
877ezownnow.com, Inc.
KAI West, Inc.
KW Endowments, LLP

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#10 General Comment

Helping Out Some More

AUTHOR: anonymous - (United States of America)

POSTED: Thursday, October 06, 2011

It looks like one should take care when dealing with this organization/individual.

Kevin Wells appears to have issues:

- American Express Centurion has a judgement against him in San Diego county (case 37-2009-00059808-CU-CL-NC) for $26,676.10.
- Theres a judgement against, (what appears to be) one of his entities (WAW RE Fund VII LP) for $49,833.32 (case VCVVS041272) in San Bernardino county.
- A judgement against him for possession in San Bernardino county. Looks like a unlawful detainer (case UDVS904072) by Fannie Mae.
- Kevin Wells is currently being sued by Richard Parker/PAK RE Fund VII (case 37-2010-00104450-CU-BC-CTL), as of 11/18/2010, in San Diego county.
- Kevin Wells is also currently being sued by Pride Acquisitions LLC (case 37-2011-00055590-CU-CL-NC), as of 06/17/2011, in San Diego county.

This does not include other counties in California or possible cases in other states and yes, this information is public (not private).  You may go to the corresponding county courthouse and view each case file for yourself. I have provided case numbers (and the county) to support each claim.

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#9 General Comment

Helping Out

AUTHOR: anonymous - (United States of America)

POSTED: Saturday, September 17, 2011

I realize this was over a year ago, but you might want to consider filing a complaint against Kevin Wells with the DRE (Department Of Real Estate) here:  http://www.dre.ca.gov/cons_complaint.html

Keven Well's real estate license information is here: http://www2.dre.ca.gov/PublicASP/pplinfo.asp?License_id=01327287

You might also want to consider filing a complaint with the DRE against KAM Investment Group as well.  KAM Investment Group does NOT have a real estate license.  Selling a property for $295,000, when it's only worth $76,000, is unethical/immoral and maybe a DRE violation.


Comment by KAM: "We have been putting good people into home ownership for over 15 years."  However, theres no proof of such claims, not to mention, it's ambiguous.  So, you can take the above statement for what it's worth.

KAM Investment Group was registered with the state of CA in 2004, 2002 in Nevada.  So they haven't been in business 10 years, little alone 15 years.  KAM is NOT an active corporation (surrendered) and was revoked in Nevada in 2010, which means KAM can't legally do business in either of these states.  It looks like they dropped KAM Investment Group, Inc. and are now operating under 877ezownnow.com, Inc.

Other info related to this company/individual:

www.877ezownnow.com
www.kevinwellssells.com
www.trencharmor.com

The Wells Organization, LP
KAM Investment Group, Inc.
877ezownnow.com, Inc.
KW Endowments, LP
WAW RE Fund VII, LLP
PAK RE Fund VII, LLC
TrenchArmor Sports Gear, Inc.

Kevin Alan Wells
Marilyn Wells
(760) 579-3240
1-877-396-9666 ext. 12
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#8 Author of original report

Unknowing Consumer

AUTHOR: Bonnie - (United States of America)

POSTED: Wednesday, August 04, 2010

Since you still have a job you do not know what you are talking about. Try loosing your job after working for the same company over 32 years. Then loose your home and car. Sudenly you are a renter for the first time. With no job and bad credit, since loosing your home and car, try finding a good place to live, that you can afford. We had been renting for two years since we  lost our jobs and going back to school. We could no longer afford the rent we were paying. TRY finding a cheap place to live in California with three bedrooms and no job. You can not find one. Kam advertized good cheap houses. I could not find any complaints against them with the BBB, so I thought I could trust them. No, I have never read a lease before or had a need to. Their lease is full of threats and lawyer fees they will charge you if you break your lease.
I had no other place to store our items, that  is why they were in the garage. We moved from a huge house to a tiny rental. Landlords are responsible for renting houses that do not leak. I should not have to worry about my items being ruined in the house or garage because of rain. They should have replaced the roof before they rented it. The house should be free of mice and cockroaches.
We have been trying to get them to do repares since we moved in and they refused. They said it was our job to pay for repares, since it was a rent to own, even though we did not take over as owners until after the two year lease was up. We paid all of our money we had left to move in here and while we were here our unemployment ran out. Now try finding a place to live with no job, bad credit and no income. We were stuck here. When you try to talk Kam they just argue with you and make more threats. I can not continue to live in a place that treatens the safety of my family, even if the landlords threaten to try to ruin our future.

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#7 Consumer Comment

Take responsibility

AUTHOR: Samantha - (United States of America)

POSTED: Tuesday, August 03, 2010

As an employee in the real estate, investments, and property management field and as a fellow renter myself all I can say is take some responsibility for your decisions. Here are a few of my suggestions, hopefully you are able to understand my point of view.

With regard to the following quotations:
"I have only lived in the house for 10 months. I could not judge the condition of the house in the dark. I could not see the roof leaked until I had lived there for four months and it started raining." "I signed the papers in the dark, paid $3095 and took the keys."
--Never, ever, EVER sign a lease without reading it over carefully. Regardless of feeling pressured or coerced it was YOUR decision to sign the lease. You could have absolutely taken some time and/or even had a personal attorney review it for you (being that you are inexperienced with rent-to-own contracts I'd say that was an important decision).

"I gave a deposit of $2000 when the add said no deposit and $995 a month. They also charged me $1095 a month."
-- Again, thoroughly read through the lease before signing. It doesnt matter what a property management for real estate company advertises. It is their discretion as to what stands and that can be found in the contract, which you signed.

"The paint is peeling off the ceiling in the family room and is moldy in the bedroom. When I plug in something in the kitchen and two bedrooms

it sparks. The garage leaks so bad, all the cartons of personal items stored there are moldy and ruined. They did not tell me the roof leaked."
--IF this is true you should have taken pictures (with a date stamp upon move in) A company usually has at least 10 days to remedy the property and if not done you may be able to break your lease. However, if brought to attention 10 months later, there is no proof that you were not responsible for the properties damages. 10 months is quite some time to accumulate mold in a bathroom and garage. Why wouldnt you have moved those boxes once you realized the dripping? It seems unlikely you wouldn't notice sooner than the time it takes to accumulate mold.

"I got the value for the house on (((Redacted))).  When I saw other houses for sale in this area for as little as $45,000. That would make the monthly payment about $500." "They did not tell me a drug dealer lived next door, or a gang member."
--Put two and two together. If you were to research the property and area surrounding (prior to signing a contract) perhaps you would have discovered that you preferred not to live in the area. One must also consider what their credit score and financial history allows for. A LOT of people are facing financial crisis however they can research and find what options fit best for them. Do NOT sign anything in desperation.

"I signed the lease in the dark, without reading it, because it was too dark. After reading the lease, it is full of threats to sue me and file damaging remarks on my credit report
if I back out on the lease."
--Have you read a lease before? A lease to own contract is not 'threatening'. Though they seem wordy (and intimidating) you must consider that a company has to protect themselves too. Plenty of people fail to make their payments as stated in a contract and it has negative consequences on their credit report. The company itself goes through serious administrative and financial set backs.

As far as the paypal goes.. The communication may not have been so clear, however, when you make a payment over paypal it clearly states that there is a 1.033% fee (or close to that) This percentage is noted before making the payment. It's unfortunate you weren't aware, though, be cautious when making payments online.

To reiterate: You MUST take some responsibility for the situation you've found yourself in. Whether or not your experience goes well with this company or the next, you made the poor decision of signing and moving in to a property that you weren't fully satisfied with.

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#6 Author of original report

Kam Investments Harrasments

AUTHOR: Bonnie - (United States of America)

POSTED: Wednesday, July 28, 2010

Yesterday Keven Wells from Kam Investments called me about my complaint. After he threatened and argued with me, he said he wanted to send another property manager over to look at the roof. I said NO. He has sent several people over to look at the roof and he already refused to fix it. He sent someone over here today even though I told him not to. He did this to harrass me the same way he did on the phone. I do not want to live in a house in this condition any more. The only reason we agreed to live here is because we are unemployed. No one will rent a decent house to someone without a job. My husband then had a stroke and is disabled. He can not make any repairs. I replaced the water faucet in the front yard that was broke off. Then I had to dig up the second one that was broke off under the ground and replace it. The backyard always had a damp spot and 2 months ago I had to dig up the pipe and replace it when there was a pond from the broken pipe. The kitchen is missing one cabinet door, one has no hinges and  another has broken hinges. None of the windows had curtain rods. Two windows had broken blinds. The window in the garage is broken. It is a safety hazard to live in a house with mold growing on the bedroom ceiling. I am trying to clean all the ruined and moldy items out of the garage and try to repack anything that is savable. Most of it is trash. It will take months to put it all in the trash. Kam refuses to pay for the damage. They could have at least been decent enough to tell me the garage leaked so I would not have stored non replaceable items in there. You can stand in the garage a see the clouds thru the roof. We want to cancel the lease without them sueing us or damaging our credit. That is the least they can do for all the harm they have done to us.

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#5 Author of original report

threats by Keven wells at Kam investments

AUTHOR: Bonnie - (United States of America)

POSTED: Tuesday, July 27, 2010

Keven Wells at Kam Investments called me today at home at 11:47. He threatened that Kam Investments, "was taking it to the next level", since I filled a complaint about they way they have treated us. He refused to let us out of our lease and said he would notify the credit bureas that we broke our lease if we move. He said they will file a for payments for the remainder of the lease if we want to move. I received a letter with the last months bill stating, if the payments are 4 days late, they will file eviction notices and the right to buy the property would be lost and all deposits forfited. The master bedroom door has a hole in it. The second bedroom door knob is broken. The second bathroom had the wall heater removed and the hole left. The master bathroom does not have pipes under the sink. The garage door knob is broken. The swamp coolers did not work. All of this damage was done before we moved in. I repared the bathroom wall and we replaced the pump in the swamp cooler. I painted the bathroom wall and brown is running down the wall from the ceiling because of all the smoking from the last renters. I have picked up THOUSANDS of cigerette butts and pieces of glass since we moved in.

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#4 Author of original report

More of Kams lies

AUTHOR: Bonnie - (United States of America)

POSTED: Tuesday, July 27, 2010

I have only lived in the house for 10 months. I could not judge the condition of the house in the dark. I could not see the roof leaked until I had lived there for four months and it started raining. I gave a deposit of $2000 when the add said no deposit and $995 a month. They also charged me $1095 a month. The electric started sparking when I pluged things into the socket after it rained. I have complained about the condition of the house since I moved in. They refused to do any repairs. They said I am responsible for repairs, since it is a rent to own, even though the ownership does not start until the end of the 2 year lease. They never said there was a fee to use paypal before I made my payment that way. They said it is a good way to save on postage and money order fees to pay with paypal. I signed the lease in the dark, without reading it, because it was too dark. After reading the lease, it is full of threats to sue me and file damaging remarks on my credit report if I back out on the lease.

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#3 UPDATE Employee

Re: Kam Investment

AUTHOR: KAM Investment - (United States of America)

POSTED: Monday, July 26, 2010

We have been putting good people into home ownership for over 15 years.

This tenant has lived in this home for over a year. The condition of the home is her doing as it was in fine condition when she moved in. She didnt have a deposit so her payment was a bit higher. Regarding Paypal, they charge a fee to use their service. Tenants are free to send in their payments or use Paypal, for a fee, to pay. If she didnt like the property, why did she sign the lease???

 

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#2 Author of original report

property value

AUTHOR: Bonnie - (United States of America)

POSTED: Sunday, July 25, 2010

I got the value for the house on (((Redacted))).  When I saw other houses for sale in this area for as little as $45,000. That would make the monthly payment about $500. But since they are doing me a "favor" by carring the loan for me so I don't have to get a loan, they are charging me their selling price of $295,000. After a two year lease, I would just keep making the payments of $1095 a month for 30 years and it would be mine. But in this market I could get a really nice house for $295,000 and get my own financing. They are just ripping off people with bad credit who don't have a down payment.


 CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

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#1 General Comment

Sorry you got scammed

AUTHOR: brownsong - (USA)

POSTED: Saturday, July 24, 2010

This is very sad. There are several things I have to say:

The good news is that in all "rent to own" situations, you are not required to buy the house. You are not the legal owner until you go to the closing table and get the deed.

My advice is to take pictures of everything you describe.  For about a hundred and fifty dollars you can get a lawyer to write a letter to them threatening to take them to court if they do not provide repairs.

I hope that you have learned that you never sign anything in the dark, especially when you have not thoroughly inspected the house first. If you felt coerced or pressured, you should have told them to put a clause in the contract allowing you a month (or whatever amount of time you both could agree on) to back out of the contract.

I'm not sure I understand how they can sell you a house for three times what it's worth. I wonder if you could please clarify how you came to the conclusion that it was only worth $76,000. If this is true, then you will never get a loan for the house. A loan company will want an appraisal on the house and will only agree to lend you what it is worth or less, with you making up the difference.

If you can't get any satisfaction from this company, quietly move out. I have moved out of a rent to own one time and they did not pursue the rest of the rent owed. In your case, with your pictures as proof, plus receipts for all the money you paid and all the refusals to help you by them (make sure you print out all email correspondence from them) even if they did pursue, I believe the judge would laugh them out of the courtroom.

Also, with the cash you had on hand, you should have gone to a regular mortgage company, they may have been able to get you a conventional loan with zero or 5% down. Even with spotty credit, you may be able to get a loan. I did, and only went to the closing table with $2000. Interest is a little higher, but the house is yours and you can refinance in a couple years and get a lower interest rate. Good luck to you.

Good luck.

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