BuyPD, Buying Summit, Scott Yancey Seminars, Veil Corp, Tax Liens Direct, American Estate & Trust, Insider's Cash, Blair Poelman, Lars Johnson, Income Properties, USA These companies defrauded $millions from thousands of unsuspecting public investors. They bragged how good they were at getting rentals, then did the bait and switch. Lindon Utah
BuyPD, Scott Yancey Seminars, the Buying Summit, and sister entities, defrauded about 150-200 unsophisticated investors of about $20,000,000 a month. They taught the public attendees how to buy, fix, rent, and sell rentals to make 15-25% ROI. After teaching the laborious tasks needed to make money like Scott Yancey on TV's the Las Vegas Flipper, they then show you how you can buy rentals, just as good, just as profitable, without having to do all of the work, BECAUSE they (the experts) have done everything already. "We practice what we preach." Some 42 persons (alledged experts in their field) promised us that this company is great...we will make a lot of money....do it the easy way....they are so successful at this...the truth is that they bought cheap, ghetto rentals, only painted and carpeted (NOT Scott Yancey's technique!), from middle men who bought them from other middle men. BuyPD did not acquire the rentals "we buy below wholesale," did not rehab them ("already rehabbed, turn-key, already leased with screened tenants, prime locations picked by our acquisition team, rentals well located by our due diligence team, etc.").
This was all balony. These unfortunate 150 persons used their savings, retirement, credit cards to buy 200 flakey rentals for $20,000,000. This was done month after month, knowing that the previous investors had huge problems and big losses. I lost $500,000+ and am now suing these people. If you'd be interest in talking with us, and maybe joining our lawsuit, contact us through RipOff Report.These ruthless people did not use much disclosure, they tried to dodge both the real estate and securities licenses and regulated industries. They make $millions at the expense of the poor public. They pay their key employees well to RipOff innocence investors. Most of the sales are made with no suitability requirements, hidden agendas, phoney photos,statements, and distortion of facts. All their worksheets are embellished and exaggerated. But their 5 attorneys have iron clad contracts, that their skillful salesmen get you to sign. You are then screwed, in their legal opinion. Because most of their investors are small, nobody really sues them, for lack of money, and legal advice that explains it is an uphill cause given BuyPD's preconcieved paperwork.