OT: Solicitation for property “investors”

[Coronita]

Well, I knew it was inevitable. Folks scouring public records, and then contacting you with a sales pitch on why you should trust complete strangers to be a equity “partner” for flipping….

Attached is the exhibit that was directly mailed to me… Anyone want to comment on either the listed properties in the flyer or on the person(people) trying to get a partnership?

[img_assist|nid=16319|title=equity partnership|desc=|link=node|align=left|width=600|height=500]

[Coronita]

Larger image of letter

http://piggington.com/equity_partnership?size=_original

[sdrealtor]

Great deal for who? Elmwood was sold at trustee sale for $150,000 last week.

[ucodegen]

Humm.. cornerstoneinvesting.net claims that he started supporting “One Safer World”, which ironically Alexx Varga also runs.

With that vision in hand, I begain suporting One Safer World-an organization who has set their sights on touching hearts.

A portion of my profits go to help One Safer World reach more people and change more lives.

http://www.bizapedia.com/ca/ONE-SAFER-WORLD.html
http://www.corporationwiki.com/California/Escondido/one-safer-world/45109768.aspx

Kind of contributing to himself it seems?

Interesting thing is that if you do a search on “One Safer World” (without quotes around it), you pull up a charities associated with many named along the lines of “Safer World”, but not “One Safer World”. Put in the quotes, and you get references to the company.

What is also interesting is that Cornerstone Investments is not Registered in California.

[CA renter]

“We know you are a CASH buyer and we want to partner with you…”

LOL!

Sure, they want you to bring the cash, and they will bring the flipping “talent.”

[Coronita]

You think they would take zygna shares instead of cash?..They are worth $20/share….

[UCGal]

Alexx Varga has two absentee judgements recorded against him/her. (Does two x’s make it feminine?)

http://arcc.co.san-diego.ca.us/services/grantorgrantee/search.aspx?FileNum=20090467830&OldSearch=1

http://arcc.co.san-diego.ca.us/services/grantorgrantee/search.aspx?FileNum=20090106970&OldSearch=1

There is a CA corp for Cornerstone Investments – registered to HOOSHIAR MAX SAEDI in Laguna Niguel.
There are 12 registries for corporations that have “Cornerstone” and “Investments” in their name. None based in San Diego.

There’s a cancelled LLC based in San Diego: Cornerston Capital Investments (entity #200307710030)
There are 16 LLC’s registered in Ca with Cornerstone and Investments in their name.

There are 422 LLCs registered with the word cornerstone in their name. There are 1113 corporations registered in CA with the words Cornerstone in their name. I did not click through all of them.

(Based on a corporation search on the secretary of State’s website: http://kepler.sos.ca.gov/ )

He’s not listed on the DRE state website as a licensed realtor. Seems like flipping houses, it would save commision to have a realtor involved.

[ljinvestor]

I have received 2 or 3 similar letters from this person in the recent past but why would I even consider giving him my money when I can do this on my own and keep all the returns?

If he is so good at what he does then he would already have a few long term loyal investors and wouldn’t need to mass market.

[Coronita]

I think many many of these folks pick common names for their businesses, as a means to confuse and illuse….

No deception there…. NOT!

And no, Alexx is a guy, not a gal… Check out his website… He touts himself as a devout christian. Whatever the that means. There was also some sob story about how a relative of his was shot and killed, and the purpose of a non-profit he also touted on the same website that is suppose to be the focal point of his property flipping business. I guess it’s a ploy to try to earn his trust.

Whatever.

[Coronita]

[quote=ljinvestor]
If he is so good at what he does then he would already have a few long term loyal investors and wouldn’t need to mass market.[/quote]

exactly…..I don’t get some folks which such big heads they think that they are the know, and they can easily approach an equity “investor” that hands over them money in full trust without being fully involved. Doesn’t happen that way.

People think that money isn’t the problem it’s finding the opportunity. I totally disagree… Money IS the problem…Opportunity isn’t.

[Doofrat]

[quote=flu] I guess it’s a ploy to try to earn his trust.

Whatever.[/quote]

I think the proper term is confidence, not trust.

[Diego Mamani]

I get those all the time… Once a guy even cold called me (I guess my number is listed), but I refused to even acknowledge that I was Diego Mamani.

[ucodegen]

[quote=CA renter]Sure, they want you to bring the cash, and they will bring the flipping “talent.”[/quote]
Oohh.. that sounds sooo familiar.. like an NPD person many years ago.
[quote UCGal]There is a CA corp for Cornerstone Investments – registered to HOOSHIAR MAX SAEDI in Laguna Niguel.[/quote] I noticed those and several others you mentioned.. though none with Alexx Varga’s name.. considering he is prominently on the front page of the site, I would expect him to be a principal in the company/investment firm.
[quote UCGal]He’s not listed on the DRE state website as a licensed realtor. Seems like flipping houses, it would save commision to have a realtor involved.[/quote]I checked Sherise Varga” and she is not listed, though there is a Thomas Emery Varga (Del Mar).

[sdrealtor]

FWIW Tom Varga is a long time reputable agent and I cant imagine he would aligned with these folks. Just a coincidence of last name me thinks

[Anonymous]

Did anyone check the comparables on the above 736 Elmwood in Escondido, CA? There was a post here that stated a $150,000 trustee sale took place in June 2012.

A quick run of the numbers revealed comparables (not foreclosure comps) from $180K to $260K range.

Property was probably obtained a number of ways, rehabbed to marketable condition, then flipped to end buyer?

Shouldn’t we be asking how this property was obtained for $150K? I.E. What is the rehab cost? And why would the bank let it go for far below the current market value? Did the previous owner trash the dwelling? or leave the water on? or take the copper pipes out?

I think this is a situation where we’d rather trash a person’s reputation before hearing both sides of the story when what appears to be a too-good-to-be-true scenario is questioned.

How many of us have seen those “New Investor Seeking Mentor” signs around freeway offramps? At least this person gave his name and property address(es) of the investment partnership involved.

[Author]

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