ED Magedson – Founder
Nest Egg Investments, LLC2400 Herodian Way Ste# 280N Smyrna, Georgia United States of America
Nest Egg Investments, LLC Out Estate Investments, Ivy Property Management, Omega Remodeling, Terica Kindred Realty Tax evasion, Fraud, Breach of Contract, lying to investors, not paying employees. Smyrna, Georgia
The above named company(s) are nothing but a sham. This is a get rich quick scheme designed only to benefit the owner of the company, Terica Kindred. At first glance this company puts on a great facade; however, when you delve deeper, especially as an employee, you see what it really is. It is a SCAM.
Terica convince buyers to purchase a property that is apparently a "good deal" she fluffs up the marketing to make it look much better than promised and these buyers fall for it. She buys trashed foreclosed homes for 18k-45k a piece, throws in a promise of a $7500 rehab and sells it at a 300% mark up. Some of these homes sit vacant and idle for years, becoming vandalized, damaged and uninhabitable. She refuses to communicate this to her investors, those of which she still has left. She avoids answering the phone and emails, stringing them along so they'll give her more money so that she can buy fleets of company cars, illegally. She does not posses the proper legal requirements to operate a business in the state of georgia and flips between business names to avoid paying taxes. She also hasn't paid any of her personal taxes for the past 3-4 years.
If you own a property purchased through Terica Kindred...get out NOW! It is a money trap that will ruin your credit. Most of the homes she handles for the buyers have had insurance that has been revoked due to the condition she leaves them in. Her buyers do no know this.
Also, when looking for properties to buy, she does so illegally. She has employees paid at $8hr to search FMLS/MLS for her, making offers and bids in her name. She has received many legal threats because of this. She often offers on home, retract and then offers again, then when it comes to close, she signs but never wires any funds.
She also likes to hire interns (free labor) with the promise for vast wealth. She has them run her personal errands as well as the rest of the paid staff. She embezzles quite a bit doing this. She often uses company funds to finance her personal life, purchases and travel.
On the property management side, she ignores tenants, let's home fall into disrepair and files for eviction the moment a tenant complains.
She is a despicable woman who's seeks only to cheat innocent people out of their money. Her partner in Crime Derrick Bridgett is also to blame. He has scores of people he owes money to in Memphis tennessee. All of the contract workers that perform the rehabs are owed a substantial sum. The nitpick the work they do to justify not paying for the work. Meanwhile the get a free rehab and pocket the cash.
This report was posted on Ripoff Report on 06/14/2012 10:35 AM and is a permanent record located here: http://www.ripoffreport.com/reports/nest-egg-investments-llc/smyrna-georgia-30080/nest-egg-investments-llc-out-estate-investments-ivy-property-management-omega-remodelin-897519. 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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