All Forum Posts by: Christine L.

And each statement came with its share of ridiculous expenses.  He preached Lease to Own, since the tenant buyer was responsible for all repairs - but not in this case.  Deducted from the profit where all kinds of expenses - gutter cleaning, driveway paving, plumbing, etc.  This is all after the rehab was completed & tenant buyer in place.   

Wendell, I invested with you only.  Please return my investment.  i made it very clear that I wanted to cash out after 12 months, & its been 24 months & you still wont return my investment.  Did you give it to this garrett character without my knowledge or consent?

Wendell, I'm still waiting for my $40K investment from April 2015. I was reluctant to tell my story until i read Sylvia's story. My husband & I trusted you after we flew from NY to meet you in Chicago to attend your "boots on the ground training.  I invested with you, you only, & not this Garrett character.  Why cant i get my investment back?

Hi Silvia,

Thanks you so much for sharing your story.

I, too have been scammed by that scumbag Wendell de Guzman. I was afraid of reporting anything on BP because I kept hoping i was wrong & he didn't scam me out of my $40,000. Thinking back, there were many red flags.

Fitst, in March of 2015, he invited me & my husband to Chicago to attend his "boots on the ground" training. We are in NY. we were convinced he was legitimate. So he said he hound a property in Plainfiled IL that was suitable for a Lease to Own. He needed $40K for the down payment & rehab. He risked nothing of his own. He found another poor soul to use their credit plus my $40 to purchase the house. It was to be a 12 months deal after which I would cash out. he promised $50K+ in profits, & my share would be 25%. In the beginning he would send me statements, showing rents collected, then all these crazy expenses against the income, so at the end of the day, my 25% profit share was always a small fraction of the rent, & each time I had to call & plead for it. One excuse after another - his accountant quit - he was busy, etc.

In April 2015, I sent him a cashiers check for the $40K. He did not receive it. I should have sensed a red flag when he asked me to stop the check & overnight another one, as another investor wanted in on my deal, but he promised it to me first. I reluctantly sent him a replacement cashiers check for $40K. A year went by & I was totally dissatisfied. I asked why was commission to his salespeople when the property wasn't purchased yet, just about 3 months in the investment. He said they worked hard to get a tenant-buyer. I told him no one should be paid until I recoup my investment & the tenant buyer purchase the property. Then another expense of a driveway pavement was deducted from the rent. I asked him why, when he preached that with that investment set-up, the tenant buyer was responsible for any repairs. He explained that away too saying the salesperson promised it would be fixed when they first got the tenant buyer, as an enticement.

Long story short, he has my $40K for 2 years now come the end of Apr '17. I pleaded with him many times that I just want to cash out & be done with it. He offered me a bigger share of the profits, & I told him I'm not interested, I just want my $40K back ASAP. I still dont have it & his 2 numbers were disconnected.

BP needs to know he's a scammer. I'm sure we're not the only ones. The whole time I realized I was scammed but was too embarrassed to admit it or say anything to anyone. Luckily, since Dec '16 he has been appeasing me with monthly $400 checks, representing 10% of my investment. But he refuses to return my investment. He claims my name is on the deed, but I have no idea where to start to investigate this. If my name is on the deed, then I might be able to start foreclosure proceedings. But I have no idea where to start. I cant even let my husband know he did this to us.

Actual Progit share for 3 months:

Wendell, I'm still waiting for my $40K investment from April 2015.  I was reluctant to tell my story until i read Sylvia's story.  My husband & I trusted you after we flew from NY to meet you in Chicago to attend your "boots on the ground training.

Hi Silvia,

Thanks you so much for sharing your story.

I, too have been scammed by that scumbag Wendell de Guzman. I was afraid of reporting anything on BP because I kept hoping i was wrong & he didn't scam me out of my $40,000. Thinking back, there were many red flags.

Fitst, in March of 2015, he invited me & my husband to Chicago to attend his "boots on the ground" training. We are in NY. we were convinced he was legitimate. So he said he hound a property in Plainfiled IL that was suitable for a Lease to Own. He needed $40K for the down payment & rehab. He risked nothing of his own. He found another poor soul to use their credit plus my $40 to purchase the house. It was to be a 12 months deal after which I would cash out. he promised $50K+ in profits, & my share would be 25%. In the beginning he would send me statements, showing rents collected, then all these crazy expenses against the income, so at the end of the day, my 25% profit share was always a small fraction of the rent, & each time I had to call & plead for it. One excuse after another - his accountant quit - he was busy, etc.

In April 2015, I sent him a cashiers check for the $40K. He did not receive it. I should have sensed a red flag when he asked me to stop the check & overnight another one, as another investor wanted in on my deal, but he promised it to me first. I reluctantly sent him a replacement cashiers check for $40K. A year went by & I was totally dissatisfied. I asked why was commission to his salespeople when the property wasn't purchased yet, just about 3 months in the investment. He said they worked hard to get a tenant-buyer. I told him no one should be paid until I recoup my investment & the tenant buyer purchase the property. Then another expense of a driveway pavement was deducted from the rent. I asked him why, when he preached that with that investment set-up, the tenant buyer was responsible for any repairs. He explained that away too saying the salesperson promised it would be fixed when they first got the tenant buyer, as an enticement.

Long story short, he has my $40K for 2 years now come the end of Apr '17. I pleaded with him many times that I just want to cash out & be done with it. He offered me a bigger share of the profits, & I told him I'm not interested, I just want my $40K back ASAP. I still dont have it & his 2 numbers were disconnected.

BP needs to know he's a scammer. I'm sure we're not the only ones. The whole time I realized I was scammed but was too embarrassed to admit it or say anything to anyone. Luckily, since Dec '16 he has been appeasing me with monthly $400 checks, representing 10% of my investment. But he refuses to return my investment. He claims my name is on the deed, but I have no idea where to start to investigate this. If my name is on the deed, then I might be able to start foreclosure proceedings. But I have no idea where to start. I cant even let my husband know he did this to us.

wendell, can you please contact me. 

Congrats. Very nice first flip. Hope to share my story soon. First flip is almost closed.

I've seen posts that advises using your own title company.  Are any of you also using an attorney, plus your own title company, or are you using only your title company's attorney?  

secret saice recipe please..thx.  great job on the deal

Would appreciate some secret sauce as well.  

Thx

[email protected]

What are the cost associated with setting up the SD IRA with checkbook access.

Thx

Thanks, Morry. I stressed to him that I want to be fair, & since its my first deal would inisit on everything being ligit, including letting his wife know everything. I asked to see the house & he said tomorrow would be better, since she would not be at the house, & that at this point he did not want to get her involved. I dont want to take advantage of the situation, but at the same time I'd like to buy the house for a fair amount under the ARV.