Scammers and crooks

56 Replies

Originally posted by @Marley Landes:

I just wasn't sure if there was any guidelines and rules in order to report fraud. I have contacted the manager and am contacting every agency related to real estate, contractors license,  attorney law for Indiana and reporting Scott Steffek. 

He sold a good game and trusting I had found the help I needed I paid for phase 1 but he disappeared after that. Even his wife is involved as his assistant. He has not responded to calls , texts and will not give me my money back. I have found additional people who were also ripped off by him. Please pass the word out, do not do business with Scott Steffek, uses the business names of Investinrehabs, Southland construction LLC and God knows what else. If anyone wants to know more details reach out to me.

Have you tried skip tracing him?

 

Originally posted by @Adrien S. :

@Scott Steffek   has left several out of state and out of country investors hanging mind project. He’s in my area and I see his messes all the time. Just helped two dudes from Israel get bailed out of a project that should’ve been 4 week flip go over a year. Fortunately the market appreciated so much they didn’t lose their pants but it was a stressful year for them. They made the mistake of including the funds for the entire project at closing so were screwed from day one. He partners with some Elbert dude from Illinois. Report him to the attorney general. 

 I second that. I've personally talked with Scott on numerous occasions since 2016 and red flags were popping each time. Every deal he proposed, when I asked for more details, the topic dropped for several weeks and then the supposed deal never materialized. He heavily markets flips in rough, high-risk areas in IL that rely on Sect. 8.

I spoke with Scott on the phone when I was fresh in the game and looking for contractors for a Gary IN project. He seemed really knowledgeable and nice & helpful (as good scammers always seem). If all this is true, I'm glad I was just lazy enough that I waited until Saturday to call his two recommended contractors; as they had voicemails stating their offices were open only Monday through Friday. I made a few more calls and ended up finding a different "decent" contractor for the project. 

I wish you luck in your situation, and thanks for the heads up. 


I haven't seen this name in the forums in more than a year. In January 2018 he was offering me deals. He had a lot of posts on the forums so i made a post asking to see if someone who did business with him would give some feedback. To date i have zero replies. I did not do business with him. Sad to see his name brought up again this way.

Originally posted by @Marcin Nurek :

Here is one of the amazing offers from Aug 2016 with his contact info:  https://www51.zippyshare.com/v/zmbXCEAN/file.html

I scanned through the zippy thing.. its a little weird.. how can a hedge fund deliver a sherrifs deed ?  answer they cant !.

so in essence your putting up 25% and to their attorney no less.. and then maybe they go bid for you and if they win they put the property in your name.. so in essence just a bidding service.. which there are hundreds through out the US that normally charge 2 to 5k per deal for this service I fund a few of them.. 

You cant get a sherrifs deed if the Hedge fund already owns them  Right ???? the deed would come from the hedge fund.. 

and not sure on IL sales but  I know  IN sherrif sales as I have funded many many deals in that state at the sales for my clients. and you give the vesting at the time of the sale and hand our your money.. 

 

Originally posted by @Son D. :

I haven't seen this name in the forums in more than a year. In January 2018 he was offering me deals. He had a lot of posts on the forums so i made a post asking to see if someone who did business with him would give some feedback. To date i have zero replies. I did not do business with him. Sad to see his name brought up again this way.

Son see my thought on the zippy file the other gentlemen  posted.. its convoluted and sherrifs sales don't work that way at least in IN.

 

@Adrien S. exactly. You don’t know anything. I chose to respond to you because I have nothing at all to hide...I dont rip anyone off. So don’t try to slander me on the internet. I know what your trying to do and it’s not going work. Funny you bring up scam...yet from what I hear about you. You brag on selling properties overpriced and having people outbid one another.. For your own profit...I’m not here for the back and forth talk. All I ask is you do not mention me period....I don’t know you and have zero interest in knowing you. You saying you reached out to me is a total lie. Nor do you even have an idea of my businesses....yet. You bring me up to try to tear someone’s else down to promote your own self. 

Originally posted by @Elbert D. :

@Adrien S. exactly. You don’t know anything. I chose to respond to you because I have nothing at all to hide...I dont rip anyone off. So don’t try to slander me on the internet. I know what your trying to do and it’s not going work. Funny you bring up scam...yet from what I hear about you. You brag on selling properties overpriced and having people outbid one another.. For your own profit...I’m not here for the back and forth talk. All I ask is you do not mention me period....I don’t know you and have zero interest in knowing you. You saying you reached out to me is a total lie. Nor do you even have an idea of my businesses....yet. You bring me up to try to tear someone’s else down to promote your own self. 

Show me where I’ve bragged about what i sell. I have a very specific process to sell the houses i own and people put in the offers that work for them. Weird that i sell to the same people over and over again- they must be doing horrible on those deals to keep coming back for more. I didn’t slander you- you jumped in. You’re right i don’t know what your business is. But i do know you were part of the transaction with Scott and the 2 dudes from Israel- I have the emails to prove it if you need a refresher.  I’m not promoting jack here. Truth is Scott has screwed multiple people and that’s a clear fact. 

This post has been removed.

Originally posted by @Jay Hinrichs :
Originally posted by @Marcin Nurek:

Here is one of the amazing offers from Aug 2016 with his contact info:  https://www51.zippyshare.com/v/zmbXCEAN/file.html

I scanned through the zippy thing.. its a little weird.. how can a hedge fund deliver a sherrifs deed ?  answer they cant !.

so in essence your putting up 25% and to their attorney no less.. and then maybe they go bid for you and if they win they put the property in your name.. so in essence just a bidding service.. which there are hundreds through out the US that normally charge 2 to 5k per deal for this service I fund a few of them.. 

You cant get a sherrifs deed if the Hedge fund already owns them  Right ???? the deed would come from the hedge fund.. 

and not sure on IL sales but  I know  IN sherrif sales as I have funded many many deals in that state at the sales for my clients. and you give the vesting at the time of the sale and hand our your money.. 

Yeah, I just glossed through it but that whole pitch is crap. For Cook County foreclosure sales, you have to come in with a cashier's check or wire for 25% of your max bid, with the balance due by the end of business the next day. After paying the balance, the auction company gives you a certificate. The plaintiff's (bank's) attorney then files a motion to approve the sale which usually gets approved by the judge after about a month. Then the bidder can exchange their certificate for the judicial deed.

There are a number of deep-pocket groups at these sales with intense analytical systems, it'd be very rare to get a property for 55% of its value. Claiming such is more akin to gambling. And many auctions open at an amount well above the property's value, so they just go back to the bank.

 Maybe they take an investor's max bid, set their own max bid at less then that, and after obtaining the certificate or deed assign it over to the investor so they can make the difference. But what would a hedge fund have to do with that, other than maybe financing the other 75% until they get the judicial deed? And they certainly aren't getting "clean title". Its just wrong wrong wrong.

Originally posted by @Matthew Olszak :
Originally posted by @Jay Hinrichs:
Originally posted by @Marcin Nurek:

Here is one of the amazing offers from Aug 2016 with his contact info:  https://www51.zippyshare.com/v/zmbXCEAN/file.html

I scanned through the zippy thing.. its a little weird.. how can a hedge fund deliver a sherrifs deed ?  answer they cant !.

so in essence your putting up 25% and to their attorney no less.. and then maybe they go bid for you and if they win they put the property in your name.. so in essence just a bidding service.. which there are hundreds through out the US that normally charge 2 to 5k per deal for this service I fund a few of them.. 

You cant get a sherrifs deed if the Hedge fund already owns them  Right ???? the deed would come from the hedge fund.. 

and not sure on IL sales but  I know  IN sherrif sales as I have funded many many deals in that state at the sales for my clients. and you give the vesting at the time of the sale and hand our your money.. 

Yeah, I just glossed through it but that whole pitch is crap. For Cook County foreclosure sales, you have to come in with a cashier's check or wire for 25% of your max bid, with the balance due by the end of business the next day. After paying the balance, the auction company gives you a certificate. The plaintiff's (bank's) attorney then files a motion to approve the sale which usually gets approved by the judge after about a month. Then the bidder can exchange their certificate for the judicial deed.

There are a number of deep-pocket groups at these sales with intense analytical systems, it'd be very rare to get a property for 55% of its value. Claiming such is more akin to gambling. And many auctions open at an amount well above the property's value, so they just go back to the bank.

 Maybe they take an investor's max bid, set their own max bid at less then that, and after obtaining the certificate or deed assign it over to the investor so they can make the difference. But what would a hedge fund have to do with that, other than maybe financing the other 75% until they get the judicial deed? And they certainly aren't getting "clean title". Its just wrong wrong wrong.

ya but you can see how those that are not foreclosure savvy would buy into it..    like you I call BS on that puff piece. 

 

I would email BB and if you have any cut and paste in email. If you also feel comfortable and it is not in violation of BB post rule do a post of forum of scammer. I would just do your homework to make sure this person or company is truly a scammer as not to incorrectly hurt someones reputation. 

@Marley Landes this is what I was thinking when I posted about a rating system for members.

https://www.biggerpockets.com/... 


we could get Burger King to let us use the hamburgler icon for those members that get caught up in scandals or are associated with BS.

@moderatorsthere is a BP post below of a deal looks like it’s in your ads  as you can see the OP has said one of the offering parties scammed her out of money   Might be with looking into   




@Elbert D.

The Q here isn’t if you were involved with Scott Steffek.

Numerous posts show you guys are working together   

The Q is are you a crook with him.

You can’t do business with a guy and not know what he’s up to. You should be trying to help the OP Recover funds if your a good guy.

What’s going on with the deal you guys have listed on BP is it legit?

Depending on what you’ve done and what you do here after is is what determines if if if....You lose a career or stay in the game.

https://www.biggerpockets.com/real-estate-listings/wow-amazing-cash-flow-on-6-unit-19-cocr-rental-property-in-nwi

@Mindy Jensen

I tried to tag a mod. My phone was resisting.

I know you guys don’t like to mediate.

the deal above is listed on your site and Scott steffek is named as a scammer and isn’t responding to the OP who is Trying to recover funds/ alert others to a scam.

That deal stays up she might not be the last....

Originally posted by @John Hickey:

@Mindy Jensen

I tried to tag a mod. My phone was resisting.

I know you guys don’t like to mediate.

the deal above is listed on your site and Scott steffek is named as a scammer and isn’t responding to the OP who is Trying to recover funds/ alert others to a scam.

That deal stays up she might not be the last....

while It would be kind of cool to have a wall of shame.. I think for BP to do this puts huge liability on them.. keep in mind there are always two sides to these stories.. Not saying the original Poster is not correct or what have you.. But I ran into that when Brie and I started Turn key reviews.. there are very strict rules you must follow when your allowing the public to make negative comments on a company.. and as the site operator you have to remain neutral just like trip advisors or other sites that allow reviews.. public can say what they want but the site it self has to remain out of the picture for liability purposes. Bottom line is that rehab and working with contractors is a tough one . and to do it remotely is doubly tough out of sight out of mind.. but you know we have contractors local to us here in PDX who go dark. its just part of the business. But what you have right now is this irrational desire to BRRRR and those that are attracted to it tend to be newer investors with limited capital and want to get started and scale fast so they want to use their cash replenish and repeat.. this opens up huge opportunities for those folks who understand the mind set to step into that niche and some of them are just not good actors .. its pretty much daily you see a post now.. about don't work with this guy don't work with that guy.. and the one thing that ties them together is generally out of area investors trying to do 50k rehabs for 20k because the wholesaler told them that's what it would cost.. and come to find out its does not work.. and or the contractors are terrible and or flat out steal the money.

 

@Jay Hinrichs If i was reading this almost 2 years ago i would've thought that the hedge fund own these 1200 properties and want to get rid of them before the bank foreclose on them to minimize loss. Nothing to tip me off about them going to bid for the properties AFTER having received 25% earnest money. 

You're also right about new investors not knowing what sheriff's sale certificate means either, especially from out of state. As long as they receive some official form of paper that says the property belongs to them then they're happy.

Originally posted by @Albert Ng :

In these days of social media, post everything, fact, name, pictures ... on here & social medias.

Had to edit and remove his email address. They work together. Not sure who does what. Who steals the money and how they split it up. But they work together and this is at least the second person they have stolen rehab money from. Hopefully the next person they prospect does some due diligence and researches them here on BP. 

 

This post has been removed.

Originally posted by @Adrien S. :
Originally posted by @Albert Ng:

In these days of social media, post everything, fact, name, pictures ... on here & social medias.

Had to edit and remove his email address. They work together. Not sure who does what. Who steals the money and how they split it up. But they work together and this is at least the second person they have stolen rehab money from. Hopefully the next person they prospect does some due diligence and researches them here on BP. 

 

 I had interaction with Elbert on a Chicago property and to be fair he did say he worked with Scott that's how I remember the name. 

plus I have funded stuff in that area so that's why it stuck with me.  

@Scott Steffek   has left several out of state and out of country investors hanging mid project. He’s in my area and I see his messes all the time. Just helped two dudes from Israel get bailed out of a project that should’ve been 4 week flip go over a year. Fortunately the market appreciated so much they didn’t lose their pants but it was a stressful year for them. They made the mistake of including the funds for the entire project at closing so were screwed from day one. He partners with some Elbert dude from Illinois. Report him to the attorney general.

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