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Report: #1455170

Complaint Review: Michael Mazzella Honolulu Mentor - Honolulu Hawaii

  • Submitted:
  • Updated:
  • Reported By: Saiyaku — New York United States
  • Michael Mazzella Honolulu Mentor Honolulu, Hawaii United States

Michael Mazzella Honolulu Mentor Deceived me into investing with him and lost tons of money Honolulu Hawaii

*REBUTTAL Owner of company: This report is totally false and misleading.

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Michael Mazzella plays a real estaste guru on the internet, offer so call "Real Estate Mentoring" program.

In real life, he used innocent people who signed up for his program to look for real estate deals, convenience them to invest with them.

He then use those who naive enough to with them to pay off his own bad loans, get into deals he should not be getting into, bail out his own bad deals and lose people tons of money.

And then, he offer to help people getting their money back while charging a management fees to work out his own bad investment.

Con people to invest in real estate project they should not be getting into.

  

 

This report was posted on Ripoff Report on 08/05/2018 06:22 PM and is a permanent record located here: https://www.ripoffreport.com/reports/michael-mazzella-honolulu-mentor/honolulu-hawaii/michael-mazzella-honolulu-mentor-deceived-me-into-investing-with-him-and-lost-tons-of-mo-1455170. 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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1Employee/Owner

#1 REBUTTAL Owner of company

This report is totally false and misleading.

AUTHOR: Michael - (United States)

POSTED: Monday, August 06, 2018

This report is absolutely FALSE and misleading. 

First of all, we do not have any investors from New York, and no investors by this name. After reading your claim, I doubt you have ever met me, and I seriously doubt you have attended my training program, which has produced some of the top investors in the state and has changed many lives for the better. If you have a legitimate gripe, why are you hiding behind a fake name? You are trying to attack mine and my company's hard-earned reputation while hiding behind a fake name - that's pretty sad. Tell us your real name so we can have an honest dialogue.

I know that you cannot - and I'm going to expose you right now.

You see, we know the names of ALL of our investors. There are over 60 of them, and you know what? ...only one of them has lost money in the past year. That investor has made several lucrative loans with me, and has earned over $100k in profits with me, and still has funds invested in other deals at this very moment, so there's no way s/he would write something nasty like this. It makes absolutely no sense.

I know the names of ALL of my students who've attended my course, so you're not going to get very far in that direction, either. 

We have lots of investors and with very few exceptions, they earn excellent returns. They are very well paid. In fact, we paid out approximately $3.2m last year in profits to our investors. Many of our investors have been investing with us for years, in deal after deal. Why? Because they make good money time after time, passively, without working for it. 

I have been investing for over 16 years and have established a strong track record of wins vs losses. With over 230 deals completed, we have lost money on only 5% of these deals, broke even on a few others, and made money on all the rest. That's 1 in 20 deals that lose money. In our industry, and in this particular market, that's an excellent track record, of which we are proud. 

Your hostile narrative assumes you are uneducated, do not understand investment risk, and are afflicted with a 'victim's mentality;' this does not fit the profile of one of my investors. Yet somehow you still profess to have intimate knowledge of the inner workings of my company's financials. "...pay off my own bad loans?" I hate to disappoint you, my friend, but I don't have any bad loans. Are you feeling exposed yet?

Conversely, investing in real estate is for grown-ups. Any type of investing, whether in the stock market, cryptocurrency, real estate, etc., incurs risk. Investors are risk managers - educated and they understand the risks of investing. Our investors are paid handsomely to assume some degree of risk with the capital they invest. They know, and I know, that they can lose money - it's rare, but its possible. Overwhelmingly, we get it right most of the time. That's why after getting paid, 80-90% of our investors roll over and reinvest with us into another deal. That's why I often have a waiting list of investors wanting to invest with me. 

As for your false claim about the misuse of funds, again, this is totally baseless. Every investment is separate from the others. They are owned by separate entities with separate bank accounts. We use 3 independent levels of bookkeeping and accountants, (1 internal and 2 external) with oversight by one of the top CPA's in the state to make sure our books are tight and clean. I have never taken management fees, although doing so is well within industry standards.

I think I've demonstrated that there's a very high chance you're only a hater in a poorly researched attempt to smear me, or you are writing on behalf of a hater (so who's manipulating you now?) If a hater put you up to this, I will pay you to tell me privately who the perpetrator is. I already have my suspicions.

But even if this was an honest claim, and you really did invest and lose money with me, then I would say this to you: I'm sorry. Even though it's rare, it does happen, and I hate it as much as you do. We work very hard and do everything we can to prevent this from ever happening. I invest my own money into many of these deals, so if you lost, then I probably lost too. The prospect of one of my investors losing money in an investment keeps me up at night. It has happened before and it will happen again. To help minimize future losses, we are currently developing an innovative loss recovery program that I hope to have in place by the end of this year. 

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