Real Estate News & Commentary

BREAKING NEWS: Pinnacle Development Partners LLC Under Investigation

Expertise: Real Estate Marketing, Personal Development, Real Estate News & Commentary, Mortgages & Creative Financing, Real Estate Investing Basics, Landlording & Rental Properties, Flipping Houses, Personal Finance, Business Management
301 Articles Written
Buy investment properties and sell within 60 days for a quick profit. $5K min. inv. 25% return w/n 60 days. Look familiar?? Atlanta based Pinnacle Development Partners, LLC is currently under investigation by regulators in California. The company, whose ads in Newsweek, The Wall Street Journal, Barrons, the New York Post, and other publications, has [...] View the full article: BREAKING NEWS: Pinnacle Development Partners LLC Under Investigation on The BiggerPockets Blog. This content is Copyright © 2017 BiggerPockets, Inc. All Rights Reserved.

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Joshua Dorkin is a serial entrepreneur, investor, podcaster, publisher, educator, and co-author of How to Invest in Real Estate. He started BiggerPockets to help democratize the real estate investing landscape for himself and others, aiming to make it accessible for everyone, regardless of income or education. Today, BiggerPockets is the premier real estate investing website online with over one million members and reaching over 70 million people with the message of financial freedom through real estate investing. Joshua, along with his wife and three daughters, make their home in Denver, Colorado, and spend any time they can traveling, exploring, and adventuring. Read more about Joshua’s story in 5280 and Inc.com.

    Chris Kunkel
    Replied about 13 years ago
    I am the attorney referenced in the article. The article slightly misrepresents the facts. The purpose of the letter was for the privacy of investors (if you read the brief letter it clearly states that); it was not meant or could it be interpreted to discourage investors. I did comment on that in my brief interview with the reporter Zach Seward, I called Zach the day after the article ran and brought the discrepency to his attention. He confirmed my statement , but I did basically say “no comment” he inferred this meant my comment regarding the letter. Because the statement did not substantially effect me I did not ask for a retraction. You can verify this with the reporter Reply Report comment
    Chris Kunkel
    Replied about 13 years ago
    I am the attorney referenced in the article. The article slightly misrepresents the facts. The purpose of the letter was for the privacy of investors (if you read the brief letter it clearly states that); it was not meant or could it be interpreted to discourage investors. I did comment on that in my brief interview with the reporter Zach Seward, I called Zach the day after the article ran and brought the discrepency to his attention. He confirmed my statement , but I did basically say “no comment” he inferred this meant my comment regarding the letter. Because the statement did not substantially effect me I did not ask for a retraction. You can verify this with the reporter
    Joshua Dorkin
    Replied about 13 years ago
    Chris – Thank you for your comments. Our goal here is to try and find out what the truth is about Pinnacle. If there is any way you can further enlighten us, please do. Thanks.
    raja rama
    Replied about 13 years ago
    i am a real estate investor also a loan officer i personally know the owner of pinnacle for over ten years and i know that he is a very decent person. it seems to me that he and his company is being bad mouthed unjustly has anyone been scammed? If not this can have a damaging effect one’s reputation.
    Remy
    Replied about 13 years ago
    Raja – I have invested with Pinnacle and to date I understand everyone involved has been paid as contracted. I do hope your correct about Gene O’Neal. It will be quite sad if things do not work out as contracted. Reply Report comment
    Remy
    Replied about 13 years ago
    Raja – I have invested with Pinnacle and to date I understand everyone involved has been paid as contracted. I do hope your correct about Gene O’Neal. It will be quite sad if things do not work out as contracted.
    Hejustlaughs
    Replied about 13 years ago
    Your post is mentioned in the carnival of business #23 over at HJL Money Blog located at http://pf.endlessgibberish.com
    Poppins
    Replied about 13 years ago
    After several friends successfully invested in and received their returns from Pinnacle, like clockwork, I also invested in May of this year. I have not had any problems with Pinnacle until this “so called” scam was supposedly “uncovered.” Everything seemed to run like clockwork until this investigation began. Now, it seems that the chances of recovering my last return or for that matter, just the last amount I invested are getting slimmer…..not so much because of Pinnacle not keeping their word, but because of this so-called investigation. If Pinnacles’ assets have been frozen, then who is actually the blame for this? Pinnacle or the US SEC. As usual, instead of making things better they seem to only be worse. To me, this makes them no better than Pinnacle. Reply Report comment
    Poppins
    Replied about 13 years ago
    After several friends successfully invested in and received their returns from Pinnacle, like clockwork, I also invested in May of this year. I have not had any problems with Pinnacle until this “so called” scam was supposedly “uncovered.” Everything seemed to run like clockwork until this investigation began. Now, it seems that the chances of recovering my last return or for that matter, just the last amount I invested are getting slimmer…..not so much because of Pinnacle not keeping their word, but because of this so-called investigation. If Pinnacles’ assets have been frozen, then who is actually the blame for this? Pinnacle or the US SEC. As usual, instead of making things better they seem to only be worse. To me, this makes them no better than Pinnacle.
    lisa sheeehan
    Replied about 13 years ago
    I have been trying to reach Pinnacle for 2 weeks and thier phones are not being answered. I had a return due 3 weeks ago and was not contacted. Is my money lost?
    Joshua Dorkin
    Replied about 13 years ago
    Development are changing quickly with the Pinnacle situation. If you want to keep in the loop, please read our forum thread on Pinnacle. We’ve got some officials there keeping people in the loop, as well as many other investors who you can communicate with. The link to the discussion is: http://forums.biggerpockets.com/viewtopic.php?t=4009 You should read the last 5-10 pages or so of the thread for the latest info! Good luck to you
    Joshua Dorkin
    Replied about 13 years ago
    Development are changing quickly with the Pinnacle situation. If you want to keep in the loop, please read our forum thread on Pinnacle. We’ve got some officials there keeping people in the loop, as well as many other investors who you can communicate with. The link to the discussion is: http://forums.biggerpockets.com/viewtopic.php?t=4009 You should read the last 5-10 pages or so of the thread for the latest info! Good luck to you
    Craig
    Replied about 12 years ago
    Investors want exactly the amount promised to them. Always play it safe with investors, they can make you or break you.
    Craig
    Replied about 12 years ago
    Investors want exactly the amount promised to them. Always play it safe with investors, they can make you or break you.
    Johan Svensson
    Replied about 12 years ago
    This is something we can’t do in Sweden. We are just not allowed to invest in property to make money. The government will just tax you to death hence why I’m trying to migrate to the US or Australia. I’m very much into investing and would expect to get back what I had been promised when entering an investment deal. I’ll check back here for updates and more comments Johan http://www.flickurpic.com
    MaxAzi
    Replied about 12 years ago
    I am new to this stuff, can we do these stuff around canada also? Btw thanks for the tips… Max
    Jag
    Replied about 12 years ago
    Was this a loophole that needed to be closed? Is it yet? Reply Report comment
    Jag
    Replied about 12 years ago
    Was this a loophole that needed to be closed? Is it yet?
    Krank
    Replied about 12 years ago
    Very interesting
    sean russell
    Replied almost 12 years ago
    thanks for the clear up on the article Chris
    sean russell
    Replied almost 12 years ago
    thanks for the clear up on the article Chris
    Chris
    Replied over 11 years ago
    Hey, I’m also in Sweden and would get taxed to death like Johan is saying.. I’m also on the lookout to MOVE, MOVE, MOVE beacause it’s bad you can’t make money passively here unless it’s online =) – Chris
    Chris
    Replied over 11 years ago
    Hey, I’m also in Sweden and would get taxed to death like Johan is saying.. I’m also on the lookout to MOVE, MOVE, MOVE beacause it’s bad you can’t make money passively here unless it’s online =) – Chris
    sylvan
    Replied over 11 years ago
    Ok so I am assuming this company has been around for 60 days at least, is there anyone who has seen results. I will continue to check out the forum for more info, but this sounds interesting.
    Wallace Nuanez
    Replied about 11 years ago
    Yah me too, Sylvan I will also check back on the updates!
    Wallace Nuanez
    Replied about 11 years ago
    Yah me too, Sylvan I will also check back on the updates!
    yukino
    Replied about 11 years ago
    I understand that black propaganda would really impact the image or credibility of any organization. But, if Pinnacle is truly legit and has earned trust among its investors, how come the scam (bad mouthing Pinnacle) seems to crash the business that fast. And why would they not allow their investors check their business practice? I think this is the first thing stockholders are interested with.
    yukino
    Replied about 11 years ago
    I understand that black propaganda would really impact the image or credibility of any organization. But, if Pinnacle is truly legit and has earned trust among its investors, how come the scam (bad mouthing Pinnacle) seems to crash the business that fast. And why would they not allow their investors check their business practice? I think this is the first thing stockholders are interested with. Reply Report comment
    yukino
    Replied about 11 years ago
    I understand that black propaganda would really impact the image or credibility of any organization. But, if Pinnacle is truly legit and has earned trust among its investors, how come the scam (bad mouthing Pinnacle) seems to crash the business that fast. And why would they not allow their investors check their business practice? I think this is the first thing stockholders are interested with. Reply Report comment
    yukino
    Replied about 11 years ago
    I understand that black propaganda would really impact the image or credibility of any organization. But, if Pinnacle is truly legit and has earned trust among its investors, how come the scam (bad mouthing Pinnacle) seems to crash the business that fast. And why would they not allow their investors check their business practice? I think this is the first thing stockholders are interested with.
    yukino
    Replied about 11 years ago
    I understand that black propaganda would really impact the image or credibility of any organization. But, if Pinnacle is truly legit and has earned trust among its investors, how come the scam (bad mouthing Pinnacle) seems to crash the business that fast. And why would they not allow their investors check their business practice? I think this is the first thing stockholders are interested with.
    mike
    Replied about 11 years ago
    why Gene A. O’Neal, declined any comment during the interview?
    Joe
    Replied about 10 years ago
    As I tried to write before, “If it’s too good to be true, it probably is.” Be careful, especially in this economy.