All Topics / General Property / Premier Realty Management – do you think this is a scam?
Hello all,
Someone I met referred me to this house investment deal ran through some company called Premier Realty Management (http://www.prmland.com/) in Northern Virgina. It seems too good to be true, so I'm thinking it's some sort of scam.
They are saying that they pay for 2 years of your mortgage payments as well as pay your 10% down – all up front to you at closing. They also offer this insurance thing called LIVE-GRIP (www.live-grip.com) where you are guaranteed to at least get the original appraised price, when you sell it after the 2-year period.
So basically you get an investment property at little-to-no cost to you and are basically guaranteed to make a profit (since even if you file a LIVE-GRIP, you made money off the 10% down they give you up front).
One of there big property pushes is a community called Craven's Grant in South Carolina (http://www.cravensgrantsc.com/). I just happen to find all PRM's sale history there through public records and created a spreadsheet here: http://sites.google.com/site/prmlandcravensgrant/
It looks like they inflate the prices pretty high when when they get it from the developers and resell it to their clients with all the incentives.
So, I'm just wondering if people think this is a legit and worthwhile investment deal, or should I just write it off as too good to be true.
Thanks,
JohnHi John, from a current client of PRM,s I think that you have not researched this opportunity thoroughly enough. I have experienced great success with Premier. I think I can alleviate some of your concerns, so I will start with LIVE-GRIP. This company is advertised on 971 Roundtable Radio in Hollywood at the CBS studios, I do not think these radio personalities would risk their reputation with false information. Some more research is required on your part. You are right to be cautious, there are real estate scams out there, but if you do your research you will realize that this is not one of them. Try focusing your research on who they are as a company and the facts of the opportunity they are offering. By all means, get on the phone and call them with any questions you have. John as far as the concern you have that the prices are inflated- the company offers you choices based on appraised value, I know that my appraisal came in much higher than what I paid, which was a surprise and a gift. One of the ways you can feel better about this opportunity is to pay cash, therefore lowering the the price by the payment incentive. another option is to finance the lot and make your own payments, less the incentive. And finally, finance the lot and get the payments in advance so that you can watch the market appreciate in this area and achieve a higher ROI. By the way, they don,t give the 10% equity up front, that would be a little much! and to good to be true! I was never told that I was guaranteed to make a profit, the only gaurantee that I have is with LIVE GRIP and that is based on the value of the property. So with that said John, the old cliche, Knowledge is Power. Use it wisely my friend it will take you to the next level!!!
PS Call and enjoy the experience.
Take care DarrylHi Everyone, I have to come clean, I wrote wrote the post above. I am Scot (Darryl) Brogan, president and founder of Dream Properties USA (aka Premier Realty Management) and I participated in the Roundtable Radio discussion at the CBS studio in Hollywood back in April. I am sorry for deceiving all of you and hope to make it up to everyone!!! If you d like to contact me, go to http://www.prmland.com/agents_details.php?agent_ID=3
Take care and please forgive Scot (Darryl)John,
Be extremely careful around Scot Brogan. He is a professional con man. He is running an illegal property flipping scam where he is conning people into being straw buyers in illegal land flips. He will lie to you up and down in an attempt to use you as a straw buyer. He is very aggressive an will do anything to use you. Do not believe a word he says. He will go EXTREMELY LOW and use every trick in the book to con you. I can assure you, he is absolutely 100% a con artist.
I am very very surprised the FBI has not caught this guy yet. I would suspect he is high on the FBI fraud list and it is only a matter of time before he is busted. If you do business with him, I can assure you he will DESTROY your life and walk away with millions as you can already see from your spreadsheet. There will be no chance of recovering anything once he is in jail.
Take care
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