All Forum Posts by: Engelo Rumora

As an investor I would NOT recconend OZ realty. 

Quote from @Engelo Rumora:

Quote from @James Wise:

I'm sure a lot of you have seen BP member Bob Stevens all over the forums telling people all about his 15% net cap Cleveland rental properties and the importance of his team.

If you do a little digging you see that there is this other guy named Bob Prisco. Bob Prisco looks, acts, and talks exactly like BP member Bob Stevens so I assume they are one in the same. Bob Stevens/Prisco sells turnkey properties and has websites advertising a complete turnkey experience where they handle all rehab and property management for out of state and out of country investors.

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So having said all of the above, I got really confused when Bob was giving some BP members the advice that they didn't need a property manager in Cleveland. All they needed was a "team" to handle everything for them?

Well who the hell is on this "team" if there isn't a property manager? 

What exactly does this "team" do if they don't manage your property?

Beyond the obvious questions of what this "team" does, I was very confused by Bob's comments as I was under the impression that Bob owned a Cleveland property management company called 5 Points Property Management.

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And if all of the above wasn't confusing enough, I went to see who is currently the owner of 5 Points since Bob says he has no involvement despite the conflicting info above, and I find out that 5 Points has had their license suspended.

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Now I am not making any outright accusations here, but the whole thing smells pretty fishy, and I think Bob Prisco / Stevens owes the BP community an explanation as to what's all going on here.

Oi Wise,

Please dig up some stuff up on me also haha

I'm in the mood for some "argy bargy" 🤓

Just don't post the explicit shots I send you all the time as I don't want all of you Americans getting jealous haha

Trump won so "The Dingo" identity is no more.

It's just "Engelo" for the public and it can be our little secret what you call me privately hahahaha

What will you do if I get deported?

Kisses 🍆

 lol a few years ago I had a wanker in town file a complaint against me for the language I use...I won, he lost. Division enforces the law, they aren't the P.C. police.

Quote from @Engelo Rumora:

Quote from @Jay Hinrichs:

Quote from @James Wise:

Quote from @Jay Hinrichs:

Quote from @James Wise:

Quote from @Jay Hinrichs:

Quote from @James Wise:

@Jay Hinrichs I am getting Deja Vu. Operator positions themselves as the owner of the Property Management company when they in fact, are not. Then when things go to hell they walk away and pretend they had no involvement with the Property Manager even though they facilitated countless transactions positioning themselves as the owner. The only difference I see is that Clayton Morris never used an alias lol.

My question is a very basic one ..  One needs to have a real estate license to bring buyers and sellers together for compensation.. I know a lot of the TK sales organizations glossed over this aspect years ago but everyone of them has a license these days.. Have you checked to see if Bob is licensed to be representing buyers in your market I doubt he is doing this as a charity.. Unless he personally buys each property and owns them then resells them .. then no licensed required of course.. This was the big issue I had with Clayton Morris making millions upon millions in fee's without being licensed..

 The Ohio Division has no records of anyone named Prisco being licensed. There is a licensee with status of revoked named Robert E Stevens though. No clue as to if it's the same person as Bob Prisco/Stevens that we've been discussing. I suspect it's probably not the same guy, but who knows.

well there you go .. unless he is buying these first and then resellling might not be licensed or legal to do what he is doing anyway. But again a lot of the OOS marketers used to do this without licenses as well.

 You need to be licensed to do property management in Ohio, so I'd really like to know how his "team" is handling property management for all of the countless investors he claims to be working with. Hence all of my questioning on the status of 5 points.

he said he did not own it and just referred folks to that company  just like many refer folks to you to manage.. And of course one can Own a PM company and have a designated broker in charge that is not an owner.. At least you can out here on the left coast. Not sure in your state but would assume its the same.   but using and Alias on BP  I dont think thats too cool just like i mentioned the sub to guys  its weird to me.

I was never licensed and never wanted a license.

I don't like being held to a "higher standard" lol

It's cool being able to tell Wise that he is a wanker and not get in trouble by the division of real estate for doing so haha.

Also, you can market and sell what you own without having a license.

PM is a different story and as you mentioned mate, an officer of the company has to be a broker in order to satisfy the division of real estate.

We are actually double d#$%ing and have two brokers as officers as the division didn't like that our broker was in Florida so now we had to get one in Toledo also.

If only I was a whistle blower, could make a nice buck as I know of at least 2,000 units illegally managed in town by folks without a license or broker.

🤷‍♂️

 thats why we worked together on deals.. 

I'm sure a lot of you have seen BP member Bob Stevens all over the forums telling people all about his 15% net cap Cleveland rental properties and the importance of his team.

If you do a little digging you see that there is this other guy named Bob Prisco. Bob Prisco looks, acts, and talks exactly like BP member Bob Stevens so I assume they are one in the same. Bob Stevens/Prisco sells turnkey properties and has websites advertising a complete turnkey experience where they handle all rehab and property management for out of state and out of country investors.

___

___

So having said all of the above, I got really confused when Bob was giving some BP members the advice that they didn't need a property manager in Cleveland. All they needed was a "team" to handle everything for them?

Well who the hell is on this "team" if there isn't a property manager? 

What exactly does this "team" do if they don't manage your property?

Beyond the obvious questions of what this "team" does, I was very confused by Bob's comments as I was under the impression that Bob owned a Cleveland property management company called 5 Points Property Management.

___

___

___

___

___

___

___

And if all of the above wasn't confusing enough, I went to see who is currently the owner of 5 Points since Bob says he has no involvement despite the conflicting info above, and I find out that 5 Points has had their license suspended.

___

___

Now I am not making any outright accusations here, but the whole thing smells pretty fishy, and I think Bob Prisco / Stevens owes the BP community an explanation as to what's all going on here.

😂 I wish I was on their payroll. Then, at least I’d be getting some money monthly. No, I needed cash flow since I lost my job and invested. I invested because of their long-standing reputation. I knew the risk was high. This was a good lesson for me and I hope to recover some of my investment. If not, I’ll write it off as a loss. Win some, lose some. It’s best to channel energy towards the future and not dwell on negative things. 

Best wishes and good luck to all! 

 Stewie Beal?

Rent to a market rate tenant. S8 in Toledo is not worth the trouble. Terrible communication.