USA Detroit property investment - Scamalot

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Scam Report Type: at  
Scam ReporterScam Tips Received
Francis Dolan
GB
2014-02-09 11:53:06
Business Venture Scam
USA Detroit property investmentEmail Attached
 Scammer
  Information
Name:
   Oliver Booth
Scam Website:
   usapropertyinvestor.com
Apparently this is a common scam and not confined to this company but it entails buying cheap property in Detroit then selling it as below market value with a guarantee of rental income and management by the company resulting in a hands-off income stream. you get a few trouble-free months and then the US agent starts claiming all sorts of expenses for repairs, maintenance etc even though the property is supposed to have been completely refurbished. They also take money off you for insurance, arranging tenants etc but you never see any proof that any of this has happened and when you ask to claim on insurance for any of the damage they say it is not covered. eventually they say the tenant has defaulted or done a flit and you get no rent at all. meanwhile the UK company, in this case USA Property Investor just say it is a problem between you and the US agent so there is nothing you can do.
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