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Ripoff Report | Secured Investment Review - Coeur d'Alene, Idaho
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Report: #1179199

Complaint Review: Ripoff Report | Secured Investment Corp Verified TRUSTED Business | Ripoff Report Verified™ …businesses you can trust. Secured Investment Corp is one of the fastest growing companies in private money marketplaces in United States. Secured Investment Corp over 125 years combined specialized loan expertise, building a comprehensive peer-to-peer lending platform focused on non-owner occupied residential and commercial real estate. Secured Investment Corp's Mission is, through its Circle of Wealth philosophy, to pr - Coeur d'Alene Idaho

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  • Reported By: Sarah — Coeur d'Alene Idaho
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  • Secured Investment Corp Verified TRUSTED Business | Ripoff Report Verified™ …businesses you can trust. Secured Investment Corp is one of the fastest growing companies in private money marketplaces in United States. Secured Investment Corp over 125 years combined specialized loan expertise, building a comprehensive peer-to-peer lending platform focused on non-owner occupied residential and commercial real estate. Secured Investment Corp's Mission is, through its Circle of Wealth philosophy, to pr 1121 E Mullan Ave Coeur d'Alene, Idaho USA

Secured Investment Corp Verified TRUSTED Business REVIEW: Secured Investment Corp clients can feel safe and confident when doing business with Secured Investment Corp. Secured Investment Corp carefully and thoroughly vet all loans and only package the cream of the crop deals to present to lenders.


*UPDATE: Secured Investment Corp recognized by Ripoff Report Verifiedâ„¢ as a safe business service.

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REVIEW UPDATE: June 5, 2018: Secured Investment remains committed to increased customer satisfaction and has improved their business practices over the years to better serve their customers. Secured Investment is truly dedicated to making sure their customers are satisfied and that any complaints which do arise are addressed promptly and fairly.

To date, Secured Investment has made good faith efforts to resolve all complaints reported on Ripoff Report. Based on our experience, the member business has proven to be among the top members of the Ripoff Report Corporate Advocacy Business Remediation and Customer Satisfaction Program as a Verified Safe Business™.

Over time and since becoming a member, Secured Investment has remained actively engaged and improving the way they address customer service complaints. As an active and current member of the Ripoff Report Corporate Advocacy Business Remediation and Customer Satisfaction Program we are happy to report that now more than ever Secured Investment remains committed to improving customer satisfaction.

Remember, no company or individual can ever satisfy 100% of the people 100% of the time. There are no products or services that will always be perfect for everyone and even the best companies will receive complaints from time to time. However, by participating in the Corporate Advocacy Program, the member business has made a commitment to working with its customers to resolve complaints quickly and fairly whenever possible.

Please keep in mind that as a consumer you have some responsibilities as well. Success has many definitions that based on your past experiences, current situation and your perceived expectations. Success with any product or service is always based on the proper application and understanding. The fastest car will not run if you never turn the engine on. Look at how you used the product or service that was provided in relation with the instructions that you received. The Corporate Advocacy Business Remediation and Customer Satisfaction Program will help you get your voice heard but please be prepared with documentation and fair representation of your concern, also have an idea of how the company can fix your concern. Can they offer additional services, extend warranties, offer a fair refund or just get you talking with someone that can help. ..let them know and let us know!

*Any consumer not receiving satisfaction from a member of the Corporate Advocacy Program should email us at editor@ripoffreport.com.

Ripoff Report Verified™ REVIEW

EDitor's UPDATE: Positive rating and recognition has been given to Secured Investment Corp for its full commitment to quality customer service.

Ripoff Report's discussions with Secured Investment Corp have uncovered an ongoing dedication by the company to total client satisfaction. This means that clients can expect that the company will work towards finding a mutually satisfactory resolution to any concerns. Secured Investment Corp listens carefully to client concerns and sees them as an opportunity to learn from past mistakes and become more efficient as a company in the services offered and the support for those services.

Secured Investment Corp's principal, Lee Arnold, has informed us that his clients are the heart and soul of his business. As a successful businessman, Mr. Arnold feels it is critical to listen to his clients and respond properly. By always putting his customers first, Lee Arnold hopes to create a service where his clients continue to come back to experience success after success. Another top executive told us that Mr. Arnold's personal business philosophy is "the client's success is our success".



One of the things Ripoff Report learned in the course of its review is that typical customer feedback often remarks on Secured Investment Corp's timely and effective communication with its clients. Secured Investment Corp prides itself in being extremely transparent and responsive with their clients. They are serious about meeting commitments, and delivering on their promises.
Secured Investment Corp is Ripoff Report Verified
Ripoff Report Verified™ .. part of Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program.A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business..



The information provided in this report below is based on comments made by Lee Arnold and John Cain during an onsite inspection held by a third party verification company with no biases towards Secured Investment Corp.

Secured Investment Corp educates their clients on how to invest in real estate, while simultaneously lending them money to invest in that real estate. Lee Arnold further explained the processes of his company, "we will take anyone, not matter the background, income, credit score, and teach them how to invest in real estate. [We] lend them the money they need to buy and sell real estate for a profit with the hopes that they generate enough income and eventually come back to become a lender through our company to the new people coming into the fold." Their loans are funded by private investors who have IRA funds that they are looking to deploy.

CEO, John Cain, explained how leads are obtained for Secured Investment Corp, "In a number of ways we acquire leads through people who are interested in real estate investing. People who are interested in getting private money capital, referrals, attending conventions, Internet advertising, and print advertising." Once a potential customer has expressed interest in their services they will be contacted so Secured Investment Corp can further understand their needs. Mr. Arnold expressed, "if their interested in borrowing money we respond to them and we ask them about the deal that they want to get funded on. If they are responding to interest in attending a live event, we sign them up. We do not cold call. We only call those who express interest in our products and services."



CUSTOMER CARE & COMPLAINT RESOLUTION – SECURED INVESTMENT CORP

During the onsite interview Mr. Arnold was asked to describe a situation where a client was not satisfied with the level of service they received. Mr. Arnold expressed a complaint that was also placed on Ripoff Report's website. One of their clients purchased a phone coaching program which costs $12,500, he additionally purchased a business setup entity LLC formation package which costs $6,000. Mr. Arnold further explained, "he called in saying he was unhappy and not satisfied with the level of service he was receiving and requested a refund. We called back asking if he would like a refund or if he would rather us send someone out to his home to work with him for three days, which is a $25,000 one-on-one mentor ship which we sent to him at no cost. We did it because we wanted to make this customer happy. While our mentor was out there he identified several deals, and he ended up buying one of them with the money we lent him. He fixed it up, sold, it, made a $40,000 profit, and still complained that we did not do a good job...in the nature of our buisness, bad press costs us a lot more than the individual customer themselves...it's not just a loss of that customer on that particular sale, it's a loss of future loans, future opportunities, that borrower becoming a lender through us--we take customer complaints very seriously." This is not a common complaint for Secured Investment Corp, and they will do whatever they can to ensure customer satisfaction.

When asked what type of changes they have made to honor their commitment to make things right with the consumer per the request of Ripoff Report, Mr. Arnold Stated, "but we certainly added fail safes to ensure that our clients had a better customer experience."

Secured Investment Corp is proud to be a part of Ripoff Reports Corporate Advocacy Business Remediation and Customer Satisfaction Program, "to me it means the opportunity to actually be able to address customer complaints. My main interest in the efficacy program is it gives us the opportunity to handle, and help the customer without them just anonymously land basting us online for stuff we didn’t even know we did. So it is a checkpoint to determine either the validity of the complaint, or give us the opportunity to resolve it before it has to be brought to the public’s attention. And we have very few of them, but the ones we do have we’d like the opportunity to fix whatever we did in the customer’s mind. So that’s, to me, what the efficacy program provides."



SECURED INVESTMENT CORP - STATEMENTS FROM THE CEO – LEE ARNOLD

" We are one of the top private money companies in the nation. With us, you'll always receive a complex and customized approach to lending that can only come from a team who consistently enhances and improves its approach. Please take time to review our site, learn about some of our loan products, meet the people who will manage your account, understand our history, and receive answers to some of your questions.

Secured Investment Corp's highly-trained team has expressed and exhibited that they are extremely confident and skilled at doing their job. Secured Investment Corp takes employee satisfaction seriously as well. Employee feedback and surveys reveal comments such as this, ""Secured Investment Corp is a great company and is positioned well for upside growth. It's a very exciting, energetic, and positive place to work. Employee suggestions are always welcome and management is open to innovative ideas. Mr. Arnold explains his techniques and strategies to his employees and encourages them to learn new skills to excel in their job. The executive team is truly concerned about employee buy-in and consistently provides growth opportunities. Mr. Arnold, and the rest of the executive team, takes the time to listen and communicate with employees and customers on a regular basis."

Ripoff Report was pleased to learn that Secured Investment Corp's past and current approach to business is focused on its pledge to total commitment towards client and employee satisfaction.



STATED IMPROVEMENTS FROM SECURED INVESTMENT CORP

Secured Investment Corp recognizes that complaints posted on Ripoff Report (whether true or not) are issues that need to be addressed, not ignored. If handled correctly, complaints can be valuable learning opportunities. With the feedback generated by Ripoff Report's review, Secured Investment Corp has made organizational changes allowing its clients and employees a more streamlined approach to problem resolution and a commitment to a great client experience.

In summary, after our review, which included discussions with Lee Arnold, Ripoff Report is convinced that Secured Investment Corp is committed to quality delivery of services resulting in total client satisfaction.





How does a business get Ripoff Report Verified™

The member business allows Ripoff report to email everyone from the past. Those who respond to Ripoff report with a valid complaint must be take care of.. they have made a commitment that if anyone contacts Ripoff Report in the future, they will make things right within 14 days. The member business must err on the side of their customers. Otherwise the member business is off the program.

Ripoff Report has determined that Secured Investment Corp meets Ripoff Report Verified™ standards which include a commitment to make a good faith effort to resolve any consumer complaints. Members of the Corporate Advocacy Business Remediation and Customer Satisfaction program do pay a fee for our on-site review, 24 hour monitoring and for support with customers to resolve any disagreements.

Ripoff Report sends a 3rd party service to do an onsite inspection of the new member business. The on-site inspection / review does not mean that the products or services offered by the business have been evaluated or endorsed by Ripoff Report, and has not made a determination as to the business' product quality or competency in performing services. We can verify, that Ripoff Report went to the business, verified their business or “work from home business”, there for, if a customer in the future does not get treated correctly, Ripoff Report can get the problem resolved. If not, and the customers is right, the member business will be taken off the Corporate Advocacy Program. Remember, Ripoff Report emailed every customer from the past that filed a complaint to make sure the member business made things right with customers from the past. Again, to err on the side of their customer, those from the past and those in the future.

Read more about why consumers should feel confident when doing business with a member of Ripoff Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. Yes, it’s a long name for a program that does a lot for both consumers and businesses alike.

Read about Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program, a program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. This program works.

As a matter of policy, when a business becomes a member of the Corporate Advocacy Program they agree to allow Ripoff Report to contact every client who filed a complaint so they can make things right with them. In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses so we can insure that the member business did right by their customer.

NOW TO THE ORIGINAL REPORT THAT WAS FILED

Secured Investment Corp Cogo Capital, Private money exchange Coeur d'Alene Idaho

ABOUT THE RIPOFF REPORT BELOW:

Ripoff Report would like to let readers know that Ripoff Report emailed this customer so the member business could make things right with them. When a business joins the Corporate Advocacy Program, Ripoff Report emails everyone from the past so the member business can make things right with them. Of course, everything within reason. In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses so we can insure that the member business did right by their customer. The author of the Ripoff Report below never responded to our offer to help them.

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IN THE MATTER OF DETERMINING Whether there has been a violation of the Business Opportunity Fraud Act of  Washington by: 
Secured Investment Corp.; and Lee Arnold;   

Respondents. THE STATE OF WASHINGTON TO:  Secured Investment Corp.; and Lee Arnold 


STATEMENT OF CHARGES   Please take notice that the Securities Administrator for the state of Washington has reason to believe that Respondents Secured Investment Corp. and Lee Arnold have violated the Business Opportunity Fraud Act of Washington and that their violations justify the entry of an order of the Securities Administrator under RCW 19.110.150 against the Respondents to cease and desist from such violations.  The Securities Administrator finds the following:
TENTATIVE FINDINGS OF FACT
Respondents 1. Secured Investment Corp. is a Wyoming corporation formed in 2011 for the purpose of operating a private real estate lending business, hosting real estate investment seminars, running a loan servicing company, and maintaining a referral program. Secured Investment Corp. operates its referral program using the name “Private Money Exchange.” The company maintains a principal place of business in Coeur d’Alene, Idaho.  2. Lee Arnold, a Washington resident, acts as the principal and Chief Executive Officer of Secured Investment Corp.  Introduction 3. Secured Investment Corp. operates a private real estate lending business, in which it matches prospective borrowersIntroduction 3. Secured Investment Corp. operates a private real estate lending business, in which it matches prospective borrowers that seek financing to purchase non-owner occupied real estate with private lenders that seek to earn income by lending to select borrowers. Secured Investment Corp. underwrites and executes each loan, and the company collects a number of fees for each loan that it brokers. Each loan that Secured Investment Corp. brokers is secured by the mortgage or deed of trust for the purchased property. 
  
STATEMENT OF CHARGES AND NOTICE 2 

DEPARTMENT OF FINANCIAL INSTITUTIONS OF INTENT TO ENTER ORDER TO                                                              Securities Division CEASE AND DESIST        

 PO Box 9033 Olympia WA  98507-9033                                                                                                     360-902-8760

4. Lee Arnold created a referral program to increase the pool of prospective borrowers and private lenders for Secured Investment Corp. Through the referral program, Secured Investment Corp. makes payments to third-parties for referrals of prospective borrowers or private lenders that enter into a loan brokered by Secured Investment Corp.  5. Lee Arnold advertised the referral program through the websites for Secured Investment Corp. and through real estate investment seminars that he hosted. From 2012 to date, approximately 22 Washington residents have paid to join the referral program, and during this period, Secured Investment Corp. has collected approximately $22,000 from these Washington purchasers. Nature of the Referral Program Offering 6. For a fee of $997, Secured Investment Corp. provides purchasers with marketing and training material, offering purchasers the opportunity to earn money by referring prospective borrowers and lenders to its private money lending business.  7. As part of the purchase fee, Secured Investment Corp. states that it will provide purchasers with their own squeeze page or landing page, which is a single web page that advertises Secured Investment Corp.’s services and invites visitors to submit their contact information. Purchasers can track the information submitted through their squeeze page on an online account provided by Secured Investment Corp. The online account also contains short training videos about best practices in marketing. Secured Investment Corp. represents that it will offer technical support services for each purchaser’s online account.  8. Secured Investment Corp. further represented that it would provide purchasers with ongoing training, such as access to weekly real estate webinars hosted by Lee Arnold or other Secured Investment Corp. representatives. Secured Investment Corp. also claimed that it would supply purchasers with Secured Investment Corp. advertising and promotional material, as well as with personal business cards with the Secured Investment Corp. logo.   9. Purchasers can either be individuals or legal entities, but Secured Investment Corp. asserts that purchasers act as independent contractors for, rather than as employees or agents of, Secured Investment Corp. Purchasers, Secured Investment Corp. represents, can work from home on their own terms. 10. For every loan that Secured Investment Corp. brokers between a prospective borrower or private lender recommended to the company by a purchaser, Secured Investment Corp. states that it will pay the purchaser twenty- five percent of the origination fee that Secured Investment Corp. collects. For example, if Secured Investment Corp. charges a six percent loan origination fee on a $100,000 loan brokered between either a prospective borrower or private lender that a purchaser recommended to the company, then Secured Investment Corp. will pay that purchaser twenty-five percent of the loan origination fee that it collected, or $1,500.   11. Lee Arnold represents that through the referral program, an average deal pays purchasers $1,500, although he has failed to provide purchasers with the basis or assumptions underlying this claim. Additionally, at one time, Secured Investment Corp. provided purchasers with a thirty-day money back guarantee. Currently, Lee Arnold guarantees
  
STATEMENT OF CHARGES AND NOTICE 3 

DEPARTMENT OF FINANCIAL INSTITUTIONS OF INTENT TO ENTER ORDER TO                                                                 Securities Division CEASE AND DESIST                                                                                  

PO Box 9033 Olympia WA

98507-9033                                                                                                    

360-902-8760

purchasers that if they do not double their initial payment of $997 within twelve months, then Secured Investment Corp. will write the purchaser a check for $1,994. Neither Lee Arnold, nor Secured Investment Corp., provided purchasers with any information about Secured Investment Corp.’s ability to finance these refunds. 12. Two years ago, Secured Investment Corp. cancelled the weekly real estate webinars that it hosted, and some purchasers have yet to receive any advertising material or business cards from Secured Investment Corp. Moreover, both Lee Arnold and Secured Investment Corp. have failed to disclose to purchasers what percentage of purchasers receive any compensation from the referral program. Past Litigation 13. In 2009, in Utah, Lee Arnold was named as a defendant in a civil suit alleging misappropriation of funds. In 2011, the parties settled the matter out of court. 14. Both Lee Arnold and Secured Investment Corp. failed to disclose to purchasers this past litigation and would have been required to list it in a business opportunity disclosure document.  Failure to Provide a Disclosure Document 15. In connection with the offer and sale of the Secured Investment Corp. business opportunity, the Respondents failed to provide prospective purchasers with a disclosure document as required by RCW 19.110.070. Registration Status 16. Respondents Secured Investment Corp. and Lee Arnold are not currently registered to sell business opportunities in the state of Washington and have not been previously so registered.  Based upon the above Findings of Fact, the following Conclusions of Law are made: 
CONCLUSIONS OF LAW 1. The offer and sale of the opportunity to become part of the Secured Investment Corp. referral program as described above constitutes the offer and sale of a business opportunity as defined in RCW 19.110.020 and RCW 19.110.030. 2. The offer or sale of this business opportunity is in violation of RCW 19.110.050 because no registration for such offer and sale by Respondents Secured Investment Corp. and Lee Arnold was on file with the Securities Administrator for the time periods during which these offers and sales occurred. 3. The offer and sale of this business opportunity was in violation of RCW 19.110.070 because Respondents Secured Investment Corp. and Lee Arnold failed to provide prospective purchasers with the required disclosure document. 4. The offer or sale of this business opportunity was made in violation of RCW 19.110.120 because Respondents Secured Investment Corp. and Lee Arnold omitted to state material facts in connection with the offer and sale of a business opportunity in Washington.   
  
STATEMENT OF CHARGES AND NOTICE 4   

DEPARTMENT OF FINANCIAL INSTITUTIONS OF INTENT TO ENTER ORDER TO                                                                 Securities Division CEASE AND DESIST        

PO Box 9033 Olympia WA  98507-9033                                                                                                     360-902-8760

NOTICE OF INTENT TO ORDER THE RESPONDENT TO CEASE AND DESIST  Based upon the above Tentative Findings of Fact and Conclusions of Law, the Securities Administrator intends to order that Respondents Secured Investment Corp. and Lee Arnold, including their agents and employees, each shall cease and desist from violations of RCW 19.110.050, RCW 19.110.070, and RCW 19.110.120. 


AUTHORITY AND PROCEDURE  This Order is entered pursuant to the provisions of RCW 19.110.150 and is subject to the provisions of Chapter 34.05 RCW.  Respondents Secured Investment Corp. and Lee Arnold may each make a written request for a hearing as set forth in the NOTICE OF OPPORTUNITY TO DEFEND AND OPPORTUNITY FOR HEARING accompanying this order.  If a respondent does not request a hearing within the allowed time, then the Securities Administrator intends to adopt the above Tentative Findings of Fact and Conclusions of Law as final and enter an order to cease and desist permanent as to that respondent. 
Signed and Entered  this _______20th______ day of ____August______________________ 2014.
                         _____________________________ William M. Beatty Securities Administrator  
Approved by:                                                                         Presented by:  
_______________________________                                 ______________________________  Suzanne Sarason  Eric Palosaari  Chief of Enforcement  Financial Legal Examiner  Reviewed by:  

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