Complaint Review: Daniel Frishberg Elisea Frishberg

If you Google Daniel Frishberg you can see he has been involved is fraudulent activities in the past. He lost his series 6 or 7 license, so now he puts everything in his wife's name, Elisea Frishberg.

Let me preface the following by stating the obvious, I'm an idiot. My Labrador Retriever could have told you Morris Vohnish, Daniel and Elisea Frishberg, are con artists.

Daniel Frishberg sold me two rental properties owned by Morris Vohnish. One located in Birmingham Alabama, the other in Miami. When you look at the properties on Zillow, I paid way too much for absolute garbage properties, that later upon selling them, my real estate agent said they are considered "F properties". (Ghetto)

Daniel Frishberg said I would make 12%, and probably more, from the rents, and after a 2 or 3 years the properties would be sold at a nice proffit. I wouldn't have to do a thing, they would handle everything. Morris Vohnish had property managers and everything would be on "auto pilot".  A couple of months later Morris Vohnish decided not to manage the properties, where upon he left with any secruity deposits and last month rents. Daniel and Elisea Frishberg became the "Property Managers", collecting 20% of any rents while paying flunky sub managers 8% to actually do the managing.

In my second month of ownership I find that one of my tennants had not been paying rent long before I purchased the property. Turns out that the eviction process had already been started before I bought it. Eventually the tennant is evicted and the rental is promptly looted/vandalized. They took everything, sinks, bathtubs, air conditioning, wires, etc. Daniel Frishberg, now the manager, had no idea that the tennant had been evicted, the property was vacant, or about the vandelizing. I'm the one that called Daniel to inform him of the situation. I had started making phone calls when I couldn't get a straight answer out of Daniel. With every phone call the news just got worse. Evictions, valdelisum, no actual management, etc. By this time homeless were living in the Bermingham rental. I decided to sell the place as fast as I could before it gets burned down, fearing the City of Birmingham would send me a bill for clean up or damages. I also found out that neither the Miami or the Birmingham rentals had any insurance.

Another phone call revealed that the rental was not registered to my LLC, instead it's titled to Daniel and Elisea Frishberg's LLC. After hiring an attorney to change the ownership, I sold the rental for $5,000, net amount to me, $2,000. I had paid Morris Vohnish $35,000. My real estate agent said it wouldn't be worth $35,000 if it were brand new. I offered the rental to Daniel Frishberg for pennies on the dollar, but he knew it was a bad investment all along and declined the offer.

The second rental I was able to change the title and sell it for about half of what I paid for it. So I am out of the ghetto rental business, thank you Daniel Frishberg for a great time!!!

As a side note. During the year that Daniel and Elisea Frishberg "managed" the rentals, their bookeeping always came up with expenses that equaled the rent that was collected. Eventually the Frishbergs coughed up a few hundred dollars of rent after their year of management. As soon as I transfered ownership into my name, I had a professional rental management agency take over the Miami property and I immediately started receiving $900 a month after their management fee of 10%. I received the rent in my bank account EVERY MONTH. That NEVER happened with the Frishbergs, the money just seemed to disappear. I made more money in one month with the management company than I made with Daniel Frishberg in a year.

And yes, Morris Vohnish is a dishonest rat as well. After all of this had happened, I would still hear Mr. Vohnish on the radio selling his investment rental properties in Birmingham. Same sales pitch. "Minimum of 12% profits on rents alone plus the hot real estate market appreciation you can expect to collect in a few short years upon selling." 

There are more gory details to the story, their lies and deciet, when I sued them in court and won for a completely different matter..... But, in an effort to keep the story short, Morris Vohnish, Daniel Frishberg, and Elisea Frishberg are cons and not to be trusted. 

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