@Swathi Vijayakumar the BBB is money making scam with less reliable reviews than Google or others.

You argue the same points that an Anti-anti communist would. 

Did you do a Google search "is Property Radar a scam?"

The tax sale list is a "motivated seller" list:Because the list is published early, the title can be searched early, and owners, banks and lienholders can be contacted before the auction---SO---I "mine" that list before every auction in hopes of getting a good deal--on a fully researched property, with the benefits of title insurance, insured closings via escrow, with disclosures and most of all-- a happy seller (yes, this is important-- I have seen a confused owner who wanted to use an auction winner for target practice because they thought they were getitng scammed by a tax sale winner).  

This sounds like a scam.

- The mortgage on the property was an interest-only one in order to make the COC reasonable, although by the time the IO period was over, a sell strategy didn't materialize and the increased mortgage wasn't sustainable- The sponsor was a scam (how?)

Nobody predicted this a year ago, including me, but James analysis is almost about correct.Ok before I launch into my reply and synopsis, while Carlos knows this for all, I am VERY PRO-small business, ANTI-Trans National Corp's, and not a fan in any way shape or form of the Fed, World Bank, C.S. or any of the elitist camp, BUT.... but, but, but, I am also a HUGE fan of TRUTH, reality, MATH and fact's and that means sometimes to acknowledge the elitist's are not always plotting to use every human as lizard food. 

@Talmadge Billingslea Yes, these memorandums of contract are often just a scam ploy by unscrupulous wholesalers.

I hope this post keeps someone else from getting swindled by this literal thief.Honestly , I know maybe it's my fault for falling for it, but being in a desperately bad financial situation made me vulnerable to this kind of scam; and his whole scammy brand (along with grant cardones, tbh) is created to scam people in bad financial situations.

However my concerns about it are that I'm in NYC, where we have inflated prices, mounting regulation and anti-landlord legislation that has become the trend in our market.