ED Magedson – Founder
usa advantage70 St Mary’s Axe, London, EC3A 8BE, Select State/Province USA
usa advantage direct property title llc $35000 loss London, EC3A 8BE detroit
usa advantage/direct property title LLc were the company names that I dealt with.
I purchased one property, 20524 Lesure, Detroit, MI 48235, for $19000 +fees+taxes $23000, in August 2013, caught up with the idea of having a bit more of an income for a low outlay, the advert said $652 net monthly income.
Looked great, so I went ahead, against my wife's advice, and sent a further $17275 for another purchase, Evergreen, again sitting tenants, newly refurbished, all checked out, just like Lesure was, great I'm on my way, afterall the help from Denise Lambert, the company co ordinator, I recieved was 1st class, how could this possibly go wrong!!!!! First up the promised rent, for Lesure, on the 9th of each month did not appear, again Denise chased up the property managers, ok I'll see what happens next month, nothing for 4 months, until the property management company was changed, to Inner city property management, another fee sent $99, they tried to contact the tenant, but they would not reply, eventually they replied saying they had a list of faults that required fixing before they would pay any rent, a newly refurbished property!!!.
I asked them to get a quote so I would make the property decent, they sent me photos of each issue and an estimate of over $4000 for repairs.I was about to continue with the repairs when I received a letter from Wayne county stating there were outstanding taxes due on the property, from 2011, $14392.90,the house would be foreclosed in the next few days, so much for the title closing agency, also the tenant had said they were only $600/month!!! Enough was enough, the management company explained that I could donate it through IPCM quit claim deed, this was signed and witnessed, then overnighted, at more expense, to make sure it beat the foreclosure deadline.Bye bye $23000.
Meanwhile the Evergreen property had a lien against it, so that was a non starter, a swap property was put on hold until the rent from Lesure came in, ha, ha. With this disaster, I wanted nothing to do with rentals and requested a return of my $17275, I received $5000, so you can understand how angry I am with this insult. At first I thought it was an error, they missed the 1 off the 15, heard nothing since, which is disappointing to say the least, if I do get any joy I will update this report, but I won't hold my breath!!! I am young enough to keep working to recover this theft. but I feel sorry for any person who has put their life savings into something like this, I hope they have more luck than me,they can't have any worse, I am sure there may be some very satisfied customers out there. I took the Lesure loss on the chin but the $12000 they have kept, after the loss I took is disgusting.If you do invest in this company, pay for your own independant surveyor/title search.
This is my second attempt to submit this report
This report was posted on Ripoff Report on 06/10/2014 10:17 PM and is a permanent record located here: http://www.ripoffreport.com/reports/usa-advantage/london-ec3a-8be-select-stateprovince/usa-advantage-direct-property-title-llc-35000-loss-london-ec3a-8be-detroit-1153765. 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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