Has anyone had experience with EquityBuild Finance?

Question

I am thinking of investing with this company.  It's been discussed in this forum before a while ago.  Anyone with firsthand experience?

Lindsay Hirsch · Answer

Please read the other threads @Darrell Odum. You should NOT invest with EquityBuild.

Darrell Odum · Answer

This does not sound good.  It seems that the facts are coming out.  What is amazing is how long they have been doing this.  I was getting info from them for years before I finally decided to invest.  Worst decision of my life.  Please comment if you have any additional info, good or bad.

John Diggs · Answer

Here is someone that helped to promote EquityBuild Ponzi to Investors.

His name is Stephan Piscano. Here is one of many Webinars, which they did many to promote deals for EquityBuild.https://youtu.be/YhLlc_gYbf4

He is still out here promoting deals. I can help but think how someone that contributed to so many people's financial ruin in continuing to be out here promoting webinars.

Here is one here...https://register.gotowebinar.com/register/6120378021491955982

His linkedIn Profile

https://www.linkedin.com/in/stephanpiscano/

bears a striking resemblance to Shaun Cohen!

Curious if we can stop people like this...?

Lindsay Hirsch · Answer

Hi All. My name is Lindsay Hirsch. My father was EB's attorney over 9 years ago and had committed suicide in 2012, noting Jerry and Shaun Cohen as well as the Ponzi scheme in his suicide notes. I took the suicide notes to the FBI and SEC in 2012, and it took 7 years for any significant progress to be made. In the meantime, I know many investors have lost money. I just got off the phone with a prominent Chicago news station who is looking for any EquityBuild investors who have been affected from 2012-2019 and would like to share their story. Please message me with contact information I can pass along to the investigative team there. Thanks so much!

Kevin Tillery · Answer

@Pat Marco

Question: Does the seller pay taxes on an increased purchase price that's being used for buyer's closing costs via concessions?

In other words, I'm buying a 4-unit and proposed raising the purchase price 6% to cover 6% of my closing costs. However, the seller is reluctant because she thinks she'll pay additional taxes. As result, we're at a stand still.

Pat Marco · Answer

@Jean-marc Cabrol

I am a retired tax attorney and I like to invest in real estate funds but I was suspicious of Equity Build offer and structure

I invested in another company that paid 8% fixed with no fees - the principal and manager teaches real estate and has done deals from high end San Francisco to mixed use in Puerto Rico to small turnkey homes in Midwest etc

His diversification by market and by type of property is what attracted me

My money has been cross collateralized against all the fund’s assets

You can private message me I can tell you about that company because they have been up and running for 10 years or just look for a similar company where youvtruly get to meet and know the owner

Pat Marco · Answer

@John Hatfiled

https://www.housingwire.com/articles/46567-sec-shuts-down-equitybuild-claims-company-is-135m-real-estate-ponzi-scheme

I hope you got your money back!

Jean-marc Cabrol · Answer

Here you go, as suspected for a while now, EquityBuild, EquityBuild Finance, Jerry Cohen and Shaun Cohen received on Aug 15th a complaint for running a Ponzi scheme from the SEC and all their assets are in the process of being frozen.

Fraud smells extremely strong and I would advise to stay away from ANY activity with them.

Igal Koiman · Answer

Wow based on multiple input from variety of reliable contributors looks like Mr.Cohen is fraud and swindler, who run financial pyramid scheme using new investor funds to pay off old investors. We start with EBF last February 2018 and so far nothing but problems, no statement, short pay or no pay at all like now. Need anyone advice how to get Mr. Cohen to start paying attention and refund what he embezzle. Is he even licensed or registered to sell investments ?

Jay Hinrichs · Answer

@Jean-marc Cabrol  from all the different post I have seen and private e mails I have gotten this is pretty much how these notes go... maturity comes and goes... lots of swapping out of beneficial interests which is replacing one investor with another on the same loan..  I suspect a lot of it is out of their control Chicago can be a very difficult city to rehab in if your not totally on it.. I know that for a fact.  But that does the investor no good..

Has anyone had experience with EquityBuild Finance?

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