196 inquiries | Real Estate Investments | Business Alert
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Company Info
This company's business is offering real estate foreclosure investments and marketing services.
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Licensing
The Department of Corporations, California’s Investment and Financing Authority, regulates a wide variety of investment and financial services including the sale of securities As of our last verification on May 10, 2010, we could not find evidence of any registration as a securities broker or dealer with the California Department of Corporations (DOC), or the Securities and Exchange Commission (SEC). You may verify this requirement with the DOC, Securities Regulation Division, by mail at 1515 K Street Suite 200, Sacramento, CA 95814-4052. The DOC can also be contacted by phone, toll-free at 1-866-ASK-CORP (1-866-275-2677). The SEC can be reached by by calling (323) 965-3998 or visit their website at www.sec.gov.
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This company is reportedly offering real estate investments via seminars, emails and phone solicitations, promising investors a 7% return monthly. The company claims to purchase foreclosure properties, rennovate them, and have them managed and rented by property management companies. Investors would in therory earn dividends from rental payments. We routinely advise potential investors to read and understand all provisions of contractual agreements, and not to rely on verbal promises by commissioned salespersons. The market value of an investment property should be critical to your decision to lend your funds or purchase a promissory note because there is a possibility that the only way to recover your investment is through the sale of the Property. Therefore, the market value of the property should be correctly estimated and the total loan-to-value ratio properly analyzed. This information should be made available to you before you commit your money to the transaction.The sale price, the cost to build, or the value in use to a specific owner does not necessarily represent the market value of the Property. A market value opinion requires consideration of comparable sales and other market data by a competent professional. The market value conclusion may be presented in the form of an appraisal report. While the borrower customarily pays for the cost of the appraisal report, either you or the MLB usually retain the appraiser’s services to prepare the report, which should be reviewed by you in advance of funding the loan or purchasing the promissory note. You should make every effort to inspect the Property which will be the security for your investment.California law requires any company, or individual, selling securities as an investment, to register with the Securities Regulation Division of the Department of Corporations.(DOC). This registration requirement includes; financial planners, broker-dealers, broker-dealer agents, investment advisers, and investment adviser representatives.Careful evaluation of all investment offers should be done prior to signing agreements. Rather than make an immediate decision, insist that the caller confirm details of the offer and all verbal promises in writing. Verify that the offer is registered, or exempt from such requirement, with your state securities commissioner. In California, call the Department of Corporations 213 576-7500. Limited Partnerships are required to register unless an exemption is filed with the state. General Partnerships, however, are not required to register. Those who invest in General Partnerships may also be accountable for the financial liabilities of the entire partnership. Offers claiming to be exempt from registration must meet specific requirements. Specifically, they must be limited to no more than 35 investors who are: immediate relatives or friends; current investors in other offers made by the company; persons referred by current investors; and to those with the expertise to make a valid decision. Generally, if an offer is sold via telephone, it is an indication it would not be qualified for exemption under current law.
Our files show disconnected phone numbers, returned mail or both. The company appears to be out of business. We cannot trace addresses of companies or principals. General information is available upon request which may assist you.
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