Complaint Review: Ameraco - Melbourne Florida
- Ameraco 380 N Wickham Rd, Suite H Melbourne, Florida U.S.A.
- Phone: 407-965-0760
- Web:
- Category: Telemarketers
Ameraco Con Job, False Claims, Ripoff Melbourne Florida
*Consumer Comment: Success....Here's your Proof
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Having worked with this company in the past, I can tell you about a few facts.
First, there are not nearly 10,000 investors in the list - the real number is closer to 2,000.
Second, most investors have merely signed up via the home website and are not prequalified.
Third, when a potential deal gets submitted to investors, it only goes out to the ones in the state where the deal is located - with 50 states, you do the math.
Fourth, there are no verifiable, recent success stories - ask them to show you proof if they make such a claim.
Fifth, the requirement for a deal to be what they term a GLA (Green Light Acquisition) or good investment opportunity is 30% below the FMV. This is heavily used in the sales pitch, but is not a good number to use (especially in the econony). Most deals would need to be at 50 cents on the dollar or less in this market.
Sixth, a claim is made that about 80% of the "GLA" deals submitted are picked up by an investor in their network. In my experience, there were 0%.
I am so glad not to be associated with this company anymore. It got to the point where I could not look at myself in the mirror anymore...
Please, save yourself the $500.
Insider
Sanford, Florida
U.S.A.
This report was posted on Ripoff Report on 06/07/2009 12:05 PM and is a permanent record located here: https://www.ripoffreport.com/reports/ameraco/melbourne-florida-32940/ameraco-con-job-false-claims-ripoff-melbourne-florida-459382. 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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#1 Consumer Comment
Success....Here's your Proof
AUTHOR: Diane - (U.S.A.)
SUBMITTED: Tuesday, June 30, 2009
Only he holds the address book knows exactly how many Investors Ameraco has.
Investors around the country come from all walks of life. Who is Ameraco to say to somebody who is interested in dabbling in the investment world, that they can't see the deals. Sure, Ameraco could ask to see bank accounts, proof of being able to fund the deal, bank statements.....but you know what? That's personal, and I for one would never show anybody that information. What does pre-qualified mean anyway? I have been PRE QUALIFIED for a credit card and did'nt get it. There are offers for property from $4,400 up to $500K. Anybody can be an Investor. Pre-qualifying don't mean squat. The deals go out to every Investor in your state, every Investor who has requested property in your state and to an internal guild at Ameraco. I'm sorry ex-employee...Were you the shopper of the deals? If so how long ago was this? I know the same person has been shopping deals for just over a year now. Has the network maybe grown since you left...or is that impossible without your magic presence???? PROOF..Did you ask for proof?
I sold this one yesterday
From: Investment Opportunity [mailto:deals@ameraco.com]
Sent: Tuesday, January 27, 2009 8:58 AM
To: undisclosed-recipients:
Subject: A DEAL for you in Florida
Please note that this deal we submitted is no longer listed. It was purchased and closed by the investor on Monday the 27th of May. Thank you,
--- On Thu, 4/30/09, submission3@ameraco.com wrote:
From: submission3@ameraco.com
Subject: 5437 Rock Springs Road- Thank you for your submission
Jerry,
Please fill out this form and email it to me with pictures on any of your
properties. We will do you right and get all of us paid.
Thanks,
Mario,
If your contract is getting ready to expire, please contact the seller and
let him know that we are buying it from you and get it extended, if they want to talk to me, have them call me and I will reassure them that we are buying it but it will take us 45 days to close.
I would like to say thank you for your encouragement I have actually gotten phone calls and emails on this deal thank you
Derrick
Hi Susan:
Thank you for the data on the property.Please email pics on the property
Sincerely,
Sid
Barbra please send me pics or more info thanks Bill
----- Original Message -----
From: Investment Opportunity
Date: Friday, May 29, 2009 9:20 am
Subject: A DEAL FOR YOU IN NEW YORK
Then there's the stories that aren't successful;
I have seen this house... it may be on the tax rolls at $647,000 but it's not worth more than about $375,000 in pristine condition. It's on a major cut through street with 5 other houses for sale on the same block and all but one are in the $200's.
Thanks,
Jeff
From: Submissions Department [mailto:submission3@ameraco.com]
Sent: Friday, June 19, 2009 1:41 PM
Subject: A DEAL FOR YOU IN CALIFORNIA
I am intimately familiar with this property. It's full retail value after repairs is very close to $130K. It needs in the neighborhood of $16k-$20k in repairs, upgrades, carpet and paint. I THINK YOU GUYS NEED TO CHECK VALUE A LITTLE MORE CAREFULLY IF YOU WANT TO DO BUSINESS WITH ME.
And last but not least, 30% is NOT heavily pitched. Everybody knows that there are alot of great deals out there. 30% is the minimum to get it shopped. If you had a chance to get a deal at 43% below FMV or 30% below, which would you choose?
About 80%of the deals get responded to and/or picked up. How would you know, ex-employee, how many deals even get submitted?
If you can't look in the mirror, perhaps it's because of your own failures and not Ameracos.
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