Complaint Review: York Street Properties - Dallas Texas

York Street Properties is committed to providing cash flow for investors and a unique buying opportunity for the credit-challenged. Our goal is to turn families into homeowners while providing the highest quality of service possible.   We always welcome anyone with an outstanding issue to call us, and have a 24-hour live answering service dedicated to that purpose. Over the past three weeks, a number of York Street clients have made contact with us regarding issues that we worked diligently (and successfully) to resolve as quickly as possible.   We encourage anyone with any concerns or issues to contact us directly.   Given York Streets commitment to collaborative and cooperative issue resolution, we believe the recent series of negative comments posted online at various sites is untruthful, intended to damage the reputation of York Street Properties, and is therefore libelous. After conducting extensive research into the claims made in the online posts, we believe the claims to be illegitimate, as evidenced by the following:   Tenants mentioned could not be identified or had no outstanding issues with York Street Properties. Appraisers had no part in writing the self-incriminating posts alleged to be written by real appraisers. Investors were surprised when made aware of the claims, dismissing the allegations as bizarre and suspect.   Vendors associated with our company said they were contacted by anonymous troublemakers asking for information that could be used to harm York Street. The condition of each property is being scrutinized more than ever in this tight lending environment.   Claims that remodel work was somehow sub-par would be impossible to get accepted through a banks strict underwriting.   No bank will lend thousands of dollars to investors unless the collateral is in good shape.     We would like to publicly thank our many customers, investors, tenants, and vendors who have stood by York Street Properties while someone has stolen our proprietary customer data and is using it to attempt character assassination.   York Street Properties has retained legal counsel to represent its interests in these matters. We have begun the process of determining the identities of the authors of the libelous posts and those actors attempting to unlawfully disparage our company.   If necessary, York Street is committed to spending time and resources to utilize the full extent of the legal system to protect itself by, if necessary, bringing suit against the perpetrators.     As always, we welcome potential clients to research York Street Properties before doing business with us.   In doing so, please be informed of the following:   <!--[if !supportLists]--> 1.       <!--[endif]-->Beware of unofficial, unaudited, unreliable websites that claim they are dedicated to providing an outlet for disgruntled customers. This news report will explain why such sites are misleading at best, untrustworthy at worst: http://www.youtube.com/watch?v=MHAcf1fYknE <!--[if !supportLists]--> 2.       <!--[endif]-->Understand that the Better Business Bureau is not a government regulatory organization, but rather a privately held company with little oversight and no due process to correct false or libelous reports.   More information can be found here: http://articles.latimes.com/2009/jan/21/business/fi-lazarus21 http://www.bbbroundup.com/SideBySide.html   York Street Properties has posted testimonials from tenants, investors, tradesmen, and vendors that are available at http://www.yorkstreetproperties.com/ and that we encourage you to read in order to obtain a balanced view of our service.   During this process York Street Properties will strive to continue to bring value to its clients and customers by remaining committed to the highest standard of transparency and integrity.

A GREAT many people have been hurt by Lance Puig & Companies. 100's of thousands of dollars in unpaid debts to Service Providers; Millions of dollars of exposure and/or losses to investors; False representations to Tenants that York Street Properties owns houses and will sell them to tenants after paying rent timely for 6 months; 10's of thousands of dollars in unreimbursed expenses to Tenants for repairs and Breach of Contract in numbers of ways, to mention a few.

Lance Puig and companies operate in an unconscionable manner that violates the principals of law and decency.

This is what websites like "Ripoffreport.com" are all about - helping people when people and companies such as Lance Puig & York Street Properties refuse to honor agreements.

THANK YOU RIPOFFREPORT !!!!!!!

WAKE-UP LANCE PUIG: There are over 900 readers on [just 1 webpage] of complaints already. These complaints will not stop so long as you continue to have unpaid obligations, deal with people dishonorably and seek out more people and companies to do the same to. Take care of your obligations and treat people with fairness according to the law & principals of fairness and these complaints will go away. This is not the work of a single person - you have many skeletons in your closet that have remained silent until now.

York Street Properties has 1 official employee, its "CEO", Lance Puig. It's obvious he would rather continue his practices of deceit, cover-up and harm rather than taking the path of honesty, good faith and settlement.

Everything in the report filed on RipOffReport is true and the advice given is sound and honest - do your homework before doing business with Lance Puig and Companies! The facts are; Federal charges have already been filed by one Investor and more are on the way. State and County prosecuting attorneys are investigating and receiving information. BBB has revoked York Street Properties accreditation to prevent others from being duped. Local media is gathering information for an investigative report. Tenant organizations are advising that renting from York Street Properties is dangerous and rent-to-own promises are historically fraudulent. Many voices - speaking together.

AGAIN, Thank You RipoffReport !!!!!!!!!!!

Our law firm represents York Street Properties, Inc. and Lance Puig (the Puig Parties).  The Puig Parties have recently filed a lawsuit against you and others for false and defamatory statements posted on this website.  The lawsuit was filed in the Superior Court of Arizona, in the County of Maricopa.  The case number is CV2009-030692. 

 

The Puig Parties have served a subpoena on Xcentric Ventures, LLC (Xcentric), the company that owns and operates this website, to reveal your identity.  The Puig Parties have also served a motion to request the Court compel Xcentric comply with the subpoena.  Arizona law requires that you be provided notice of the discovery request via the same medium that the false and defamatory statements were originally published.  By this post, I hereby give you notice of the Puig Parties pending discovery request.

 

You have a right to file and serve an anonymous response to the discovery request anonymously. If you intend to file and serve a response, please do so, or notify us of your intent to do so, on or before October 31, 2009.

 

Regards,

 

Joseph M. Nathan, Esq.

Lynn Tillotson Pinker & Cox, LLP

[email protected]

BBB has determined, after extensive investigation, that York Street Properties is a "rotten egg" that doesn't deserve your business.

York Street Properties has refused, to date, to remove the BBB seal from their website. Apparently, they are still looking for unsuspecting victims who don't prepare themselves with adequate research.

http://www.bbb.org/dallas/business-reviews/real-estate-investors/york-street-properties-in-dallas-tx-90006702#ratingdetails

There has been some discussion about pursuing civil charges against Lance Puig and York Street Properties. However, the practicality of that may not warrant the efforts.

Obviously, this gentleman and his companies have let their illicit activities and spending habits catch-up to them. It appears all he can do now is perpetuate his activities of the past by "stealing investors credit and money", continue directing sub-standard remodels, not pay remodeling contractors for their work, make promises to tenants he never intends to keep and set-up lenders for mortgage losses amongst other things.

In the end, it appears restitution will be impossible from a financially depleted person and company.

Aggressive Prosecutors with the State of Texas, involved Counties and Cities will be able to shut down this operation that has victimized so many in past and actively seeking to defraud others in future.

If you've been victimized already, please report this to the Texas State Attorney General's office AND the Dallas District Attorney's office.

If you've been contacted by Lance Puig or York Street Properties for investment or services - refuse, then contact the Texas Sate Attorney and Dallas District Attorey's office. Send copies of whatever correspondence you have received from Lance Puig, York Street Properties, York Street Homes, We Buy Homes USA, York Street Financial, Guaranteed15.com or any other entities associated with Lance Puig.

These are bad people to deal with. Theft, threats, lawsuits, insults to your intelligence - why subject you, your business and your family to that. These are the types of companies we do not want operating in Texas or anywhere else in America.

Since there's only one official employee of York Street Properties, Lance Puig, I'll assume the little blog by "York Street Official Response" cam from him. Here's my thoughts on the subject and the facts:

1) When I and my fellow contractors are paid the approximately $600, 000.00 owed to us (spanning as much as 2 years or more), then you can make the such claims. As for communications and names; you've been communicated with so many times without response it's frightening. As for names, look at the hundreds of invoices and statements we've sent you over time instead of putting the in the garbage. Have a look at your accounts payable records, if you bother to records your debts propertly.

2) Why did so many of the Investors loose their house to repossession? Why did you not pay the mortgages even after the Tenants paid you the rent? You want to communicate with the Investors? Why don't you return their calls, tell them the truth and get their
money and credit ratings back?

3) Why have tenants lived in sub-standard, un-repaired conditions? Worse yet, why have tenants been evicted from their homes
because you haven't paid the mortgages? Why haven't you been truthful with the tenants from the very beginning of their
contract, when you said they could buy the house on a rent-to-own basis - that's purely untrue and fraudulent, in fact.

You've always hoped that all the parties you have been cheating and lying to would never get together. Well guess what - WE HAVE !

Sir, these acts have been going on since 2006 and earlier. This is not something you can blame on the economy - you only have yourself, your dishonesty and your lack of respect for other people to blame.

The BBB has at least 8 serious complaints against your firm and your status with them has been revoked.

The Attorney General is now getting named complaints.

Banking Regulators and Lenders are also investigating with named complaints.

Local and national media is being briefed on the investigation by named sources.

Thank Heavens to the person who started this blog and the person who started the YSP VICTIMS GROUP - we applaud you for your efforts and persistence. However, this group is now about ALL the injured members, not a single "provocateur" as you suggest. You and your companies names are permanently defamed and besmirched - YOU HAVE NOBODY TO BLAME BUT YOURSELF.

We either want financial restitution or you in jail where you can't hurt more hard working Americans!

Well - NOW I KNOW YOU ARE SCAM 

Those of us who are INFORMED CONSUMERS know that the BBB is a waste of time.

BBB STOPPED BEING CONSUMER ADVOCATES long ago. 

They decided the almighty dollar is far more important to their organization than CUSTOMER SATISFACTION and will not do what they should be doing when dealing with a dues paying member.

 

They will do nothing to risk losing those FEES! 

Mr. Lance Puig, CEO

YORK STREET PROPERTIES, INC.

100 Crescent Court, 7th Floor

Dallas, TX 75201

September 7, 2009

Dear Mr. Puig,

I have always advocated running an ethical business, maintaining strict compliance with all state and federal laws, paying vendors on time, and resolving customer complaints in a timely manner. Recently, however, several online postings have come to my attention which outline, in great detail, allegations of fraud, criminal misconduct, securities violations, payment scams, non-payment of construction tradesmen, unresolved customer complaints and/or ongoing civil/criminal investigations concerning York Street Properties, Inc. including:

(((Redacted)))

http://www.ripoffreport.com/Real-Estate-Services/York-Street-Properti/york-street-properties-inc-yo-24b62.htm

http://ripoffreport.com/BBB-Better-Business-Bureau/Yorkstreet-Propertie/yorkstreet-properties-they-did-yfey5.htm

http://us.ripoffrecount.com/2009/08/york-street-properties-a-review/

http://www.oodle.com/view/york-street-properties-warning/1558530470/

http://dallas.app.bbb.org/complaint/view/91118066/b/906ca9d7e

Some of these postings:

1. Appear to be from real estate investors that I personally delivered York Street Properties Inc.’s online presentation to;

2. Allege that I am your personal advisor, partner and/or co-conspirator in your alleged fraudulent business practices; and/or

3. Could result in severe civil and/or criminal penalties if proven to be true;

Based on the seriousness and volume of these allegations, I have no choice but to resign my position at York Street Properties, Inc., effective immediately, until which time York Street Properties, Inc. is able to resolve all of the allegations against it, as I cannot and will not knowingly be associated with any organization that is alleged to be committing fraud or securities violations, or which is otherwise engaged in payment scams, non-payment of construction tradesmen and/or acts of civil/criminal misconduct.

Sincerely,

Mike Bacher

YORK STREET PROPERTIES, INC.

Real Estate Investor Relations

100 Crescent Court, 7th Floor

Dallas, TX 75201

CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

07 September 2009

Amidst increasing activities in the York Street Properties investigation, the company's manager/contractor resigned on Monday. Speculation is that Michael Bacher has parole issues that may have affected his decision. It appears that Mr. Puig is getting closer and closer to personal disaster every day. Below is a copy of the resignation filed publicly at: (((Redacted)))

Mr. Lance Puig, CEO

YORK STREET PROPERTIES, INC.

100 Crescent Court, 7th Floor

Dallas, TX 75201

September 7, 2009

Dear Mr. Puig,

I have always advocated running an ethical business, maintaining strict compliance with all state and federal laws, paying vendors on time, and resolving customer complaints in a timely manner. Recently, however, several online postings have come to my attention which outline, in great detail, allegations of fraud, criminal misconduct, securities violations, payment scams, non-payment of construction tradesmen, unresolved customer complaints and/or ongoing civil/criminal investigations concerning York Street Properties, Inc. including:

(((Redacted)))

http://www.ripoffreport.com/Real-Estate-Services/York-Street-Properti/york-street-properties-inc-yo-24b62.htm

http://ripoffreport.com/BBB-Better-Business-Bureau/Yorkstreet-Propertie/yorkstreet-properties-they-did-yfey5.htm

http://us.ripoffrecount.com/2009/08/york-street-properties-a-review/

http://www.oodle.com/view/york-street-properties-warning/1558530470/

http://dallas.app.bbb.org/complaint/view/91118066/b/906ca9d7e

Some of these postings:

1. Appear to be from real estate investors that I personally delivered York Street Properties Inc.’s online presentation to;

2. Allege that I am your personal advisor, partner and/or co-conspirator in your alleged fraudulent business practices; and/or

3. Could result in severe civil and/or criminal penalties if proven to be true;

Based on the seriousness and volume of these allegations, I have no choice but to resign my position at York Street Properties, Inc., effective immediately, until which time York Street Properties, Inc. is able to resolve all of the allegations against it, as I cannot and will not knowingly be associated with any organization that is alleged to be committing fraud or securities violations, or which is otherwise engaged in payment scams, non-payment of construction tradesmen and/or acts of civil/criminal misconduct.

Sincerely,

Mike Bacher

YORK STREET PROPERTIES, INC.

Real Estate Investor Relations

100 Crescent Court, 7th Floor

Dallas, TX 75201

CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

York Street Properties vehemently disagrees with the assertions in these malicious, anonymous comments concerning our business conduct. While we do not wish to speculate as to someone elses motives, maybe the postings are motivated by the current multi-trillion dollar crisis in the domestic financial/real estate market. If thats true, their focus might be more appropriately directed elsewhere. York Street Properties, like nearly every person and business, suffered in 2008 and the early part of 2009. However, since late spring of this year the real estate market has started to improve and, to that end, our dedicated staff is redoubling its efforts to maximize opportunities for our customers during this improving real estate market. YSP has delivered for many satisfied customers over the past years and much of our business has come (and continues to come) from customer referrals.

YSP does not recognize the comments posted on this unaudited website (or on other non-accredited consumer advocacy) as legitimate and truthful, backed by fact. Only the Better Business Bureau refuses anonymous complaints; therefore, only the BBB is a reliable source of consumer information. Posting anonymously is not an effective, nor fair, way to deal with complaints. Moreover, it is not a normal means to address problems. Contrary to the outrageous claims made by these anonymous snipers, YSP values each of its customers and, when necessary, always welcomes the opportunity to work towards a mutually acceptable outcome. Although rare, when solutions have not been readily achievable, YSP has often refunded money. For years YSP conducted business without such attacks and now, all of a sudden, these anonymous hecklers post online (instead of seeking legitimate means of redress). Worse still, the defamatory material posted here has been copied and re-posted verbatim to other sites. YSP is currently investigating its options to resolve this issue and defend its unfairly besmirched name and urges any potential, existing or former customer (including those who have posted this material) to contact us directly.

There are many many victims of YSP.  Lance Puig needs to be held accountable for all the misery he is putting investors, tenants & contractors thru.  I have contacted Tx Atty Gen, BBB of Dallas, and hope that the investigation gets heated up really quick.  We are tenants that are being defrauded with promises of being able to buy the home we are in.  They do not own the home, & we have been in contact with the owner, who says YSP is not making any pmts to them, or paying their mortgage pmt.  Collecting our money, not paying the investor...can you say scam???

York Street Properties York Street Homes York Street Financial Lance Puig Ponzie scam, investment fraud, non-payment of mortgages, Property Management Fraud, real estate fraud, swindle, non-payment of debts, falsely representation of BBB company in good standing, bank fraud Dallas, Texas

 

Robbing Peter to pay Paul. A classic ponzie scam. But who pays the price?

* Investors
* Lending Institutions
* Tenants
* Rent-to-Own prospects
* Service Providers

All these groups have suffered at the hands of dishonest Dallas businessman Lance Puig.

Investigators for the above groups have now consolidated their efforts to research and obtain all the facts, then proceed legally. 2 local newspapers have committed staff journalists to speak with parties and also determine the facts. Contact was made with York Street Properties but they advised "no comment will be given".