Specialist · Dallas, TX · Member since 2014 · 900 posts · 392 votes
Has anyone been ripped off by David Alexander from NDN Ventures, Inc? He lives south of Dallas and he sold some partial performing notes to an out of state woman for 6 months starting march 2018 & stopped paying in August.
Yet another stinking, scumbag guru that takes advantage of people, now she has to spend money on a lawsuit and try to garnish whatever she can find.
Specialist · Dallas, TX · Member since 2014 · 900 posts · 392 votes
6y
1. The stuff he was doing is a hot, ugly mess. He was selling partials of Promissory notes to newbie investors. My friend works @ a title company and it appears someone somehow got the original homeowners to leave, most likely it was about to go to foreclosure, and did an illegal conveyance. It appears it was sold in 2017 & not recorded until 2019, so technically he did not even own it when he sold the partial in March of 2018. He used a lot of warranty deeds with vendor liens, & using a wrap arounds and got it sold and financed by Global Lending Solutions, not sure if they paid off the orignal loan. So he is possibly selling partials on homes he did not even own. He paid 6 payments, then silence.
2. Most important, do not buy anything from a guru or educator. Huge conflict of interest. Then run an O&E report on the property to see what encumberances are on it.
3. We sold many of the notes we worked out, we only have a couple left. Now too many new investor have flooded the market, willing to overpay and chase too few notes. Keeping my powder dry for next year.
The bottom line; He bought the property and then sold it to Jordan Redding in 2017 via a Warranty Deed with Vendor’s lien… which basically means he sold it without paying off anything (Texas law is very clear about the effect and implication of warranty deeds) for $174,900
‘the "underlying debt conveying herein… filed for record 2016-54631 Deed of Trust…" which is a deed for $171,830 FHA loan to the homeowner.
Then… Jordan Redding gets a (wraparound financing) Deed of Trust, which strangely also acts as a warranty deed, and appears to give back the property to Jordan Redding.
He just text me asking if I wanted to sell a house I own. I sent him your page, he never responded back. Guess he's looking for his next ripoff. THANK YOU FOR THE HEADS UP!!!