Commercial Office Investor · Redding, CA · Member since 2009 · 5 posts · 1 vote
Has anyone heard of Big Money Real Estate Solutions out of Littleton, Co ?? They are an investment partnership firm looking for investors to partner with, utilizing their capitial for property purchases. I won't bore you with the details other than they put up all the money for mutilple purchases based on your "buy-in" amount. I have some concern that this may be a scam?? They claim they have close to $1 billion in capital available. If they had that kind of capital I beleive their website woud be a little more professional?? I am questioning the integrity of the people I am dealing with? Here is their website:
http://www.bmrealestatesolutions.com
Can anyone give me any insight of these folks??
I am looking for capitial to fund some very profitable transactions that I don't have the cash for.....
General Contractor · Bordentown, NJ · Member since 2009 · 4 posts · 2 votes
16y
I have been in contact w/ "Big Money Real Estate Solutions" recently. My attorney reviewed the legal contract and called it "vague" and one-sided on their end. I asked for references and they had a woman from California call me, but her phone number was blocked from Caller ID, she could not provide even 1 address of an actual property she had flipped, although she insisted she has done "multiple deals" at a time w/ them, and she was supposed to email me addresses the next day and never heard from her again. The guy (Andrew) then offered to take HALF of my money up front, with the other half due upon us doing a deal. I still requested actual street addresses that I can check out w/ Public Records offices. I am waiting on that now, and will post further if I get any more information. In the meantime, holding on tightly to my hard earned $6500!!
General Contractor · Bordentown, NJ · Member since 2009 · 4 posts · 2 votes
16y
Total scam .... watch it! My latest request for verifiable references (an address I could look up in Public Records) from Big Money Real Estate Solutions was met w/ an insulting email stating that "it is apparent that you do not trust this company or what we are doing no matter what I give you it will not be enough" ... instead of giving me an actual address!! Like he's hurst and insulted that I don't blindly trust him. He talks a good talk though!!
Commercial Office Investor · Redding, CA · Member since 2009 · 5 posts · 1 vote
16y
Mark, Who is the guy your speaking of at BMRS, Andrew James? Or is he using another of his phony names! If this is not a scam, it is one un-professional organization. You can't beleive some of the crap they tried to fill me with. I wish I could get closer to them to prove or dispel their intergrity, and then turn them into the attorney general & BB so they don't waste other honest peoples time. I agree if the people and program were creditable .... it would be worth a go.
General Contractor · Bordentown, NJ · Member since 2009 · 4 posts · 2 votes
16y
That's exactly him, Andrew James at Big Money Real Estate Solutions LLC in Colorado. I can show you his cop-out email when I asked for references, email my wife at [EMAIL REMOVED]and we'll forward it to you. I would like to help expose them or at least warn people to try to get references and see what happens before they blow their savings and get their hopes up. In any business you should be ready and willing to provide references to new customers. As a contractor I have addresses, photos, names and numbers of people I have done work for that are willing to talk to other clients. As an investor, I have addresses of previous houses we have bought and sold and the HUD1's to prove it. They have nothing to share, not one address as proof that they do what they say they do. Instead he attacks us saying we're not good "partners" because we don't "trust" him.
Commercial Office Investor · Redding, CA · Member since 2009 · 5 posts · 1 vote
16y
Mark, I will email some info to your wife as requested. We both need to call the Co. BBB and report this clown to in an attempt to keep others out of harms way. I can't imagine what happens after someone gives this guy some money! By the way, your not the "bad partner" for not trusting someone that did nothing to earn your trust or mine.
SCAM SCAMM SCAMMM - Andrew James. John Burke they are all the same guy. They have no money for funding anything, they have not been in business for the six years there web sight says they have. Andrew James Romero is the name of the guy who owns the company. Good luck finding him or any money you sent them.
My name is Shelly I do Real Estate Investing and have been working with Big Money Solutions and I am very Satisfied with them I am curious if any of you are even involved with them?This after all is only a chat site and I believe people can say whatever they want.FYI the company has been around for 4 years not 6.I have no complaints at this point we have several offers pending I will keep you all informed of my efforts.I am involved with this company and they are NOT A SCAM.
I had to reply I am a contractor and have done several deals with Big Money Solutions,Do not be fooled by these people who probably want something for nothing,sure it cost me money to get involved but my return was huge!If your looking to make real money Big Money Solutions has done it for me.What a great company!!!!!!!!!!
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
16y
Hi, well, I guess you could go with Karl here, on his first post, or call the Department of Finance in Co. Might give the Attorney General a call too! If there is anything going on, they may have insight, if they don't they might look into it. Bill
Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
16y
Originally posted by Mark Truch:
... I asked for references and they had a woman from California call me, but her phone number was blocked from Caller ID, she could not provide even 1 address of an actual property she had flipped, although she insisted she has done "multiple deals" at a time w/ them, and she was supposed to email me addresses the next day and never heard from her again. ... I still requested actual street addresses that I can check out w/ Public Records offices. I am waiting on that now, and will post further if I get any more information. ...
Shelly and / or Karl,
Since both of you proclaim to have successful transactions with the company, why don't you provide the info Mark was requesting, as shown in the quoted excerpt I present here? That is the best way to dispel any disbelief - providing actual proof.
Isn't it strange that a compamy that claims to be in business for six years has never been heard of by the BBB. And the two post that claim to have done business with them were done at the same time, same day. I'd bet the feds will shut this scam down soon. Good luck getting any money back from these dudes. [/url]http://denver.bbb.org/Find-Business-Reviews/
From what I found out, every person who works there is an ex con. Not one of them has a clean record. Just call the probation departments and find out about them. Steve Petty was just convicted for drug trafficking. Kevin Olson is a wanted criminal. One of the people who work ther told me some thigs but told me not to tell.
Real Estate Consultant · Oakland, CA · Member since 2010 · 1 post · 0 votes
16y
Hi Folks
John Burk or Berk , blew a fuse when I told him, I was doing a background check on his company. Took some searching, finally found Big Money Real Estate Soluations in Colorado not BMS. I told him if I was going to partner with him, I want know everything about him.
That did'nt go over well either, Maybe I have information some of you may
not have, iF THIS GUY IS A FLAKE
I'll know for sure by mid week,I'll post the information then.
I've been negotiating with Big Money Solution this past week. John Burke refuses to give me any references to Colorado Clients and actual properties they've purchased for these clients. His excuse is, "what protects me from you working with MY guys locally?Sounds like maybe you want to network with other REAL people that are doing this and you expect me to just give them to you.Unfortunately I can not." This makes no sense. I also paid a surprise visit to their office in Englewood, CO and it looked more like a dungeon with no name posted on it and not even a suite number. John Burke didn't even know the correct address, just the directions to it. They do not reflect a company that claims to have a Billion Dollar backing. I question their validity.
Investor · Charlotte, NC · Member since 2010 · 40 posts · 7 votes
16y
think of it this way...., if your a landlord do you do a credit, criminal, and eviction check on an applicant before handing them the keys to your $50-100k home? always verify via third party...
i'm not a fan of paying money up front for the promise of money... the odds of B.S. -lets just say at this level of investing, are high.
Real Estate Investor · Denver, CO · Member since 2008 · 47 posts · 22 votes
16y
Colorado Secretary of State has them being in business for 4 years. Romero was good enough to provide his home address on the company documents. What a goof.
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
16y
This should also be a lesson to all the brokers out there who think that by fluffing, perhaps using the assets of their lenders and sources as if they have a direct line to such funds, will ultimately put them in a much worse position than if they just said, I'm a broker for some very good lenders!
Having two first posters chime in for support is always a dead give away.
The only company I would think would be OK to pay a fee to up front to get a loan would be SAMS CLUB! Now that they do small business loans.
Never pay any fee of any kind up front for a loan application in excess of a couple hundred bucks. Always ask the lender what real estate agents or companies they have done deals with, (regardless of commercial or residential, if they are a real lender, they will have worked with realtors!) Then ask the Realtors. Ask them what closing companies they use, then check with them as well. This is with ANY lender! What you want to know is do they close deals or collect processing fees? Do they get deals done on time? Do they have last minute changes to the terms originally disclosed? And, after a borrower pays for all the loan costs, do they come up with additional requirements? If you get these questions asked and get a favorable resonse from OTHERS, then you probably have a real broker/lender. IMO!
Rich, where is that Wall of Shame, this might be the first entry, but get some hard evdience on them first. Bill
Handyman · Milwaukee, WI · Member since 2010 · 1 post · 0 votes
16y
I just wanted to add a big thank you for all the information
posted in regards to BMRES! I recently was contacted by
Mike Brown and Chris Stevens basically trying to sell me
on this real estate program stated at the very beginning of
the thread. Since I am skeptical of any online business
opportunity, I was doing my due diligence in performing
a search for any complaints/scams in regards to BMRES.
That's how I ended up here. I want to add that the business
on google maps seems to be located at 200 W Hampton
right in the middle of the road! They give you a phone number that claims to be unpublished and says they have
been in business since 2010, which was provided by the Yellow pages. But, if you look up Andrew
Romero, the business seems to be located in Littleton Co
and all phone numbers I have that connect to these guys are all unpublished. All I can say is that this confirms my
suspicions and I will not be getting involved anytime soon.
My question is why is the upfront fee of $6,500 so high?
I would still like to see what type of educational materials
they provide, and proof of they're funding, owners, transactions, etc. I'm not even sure they could teach me
much more than I already know. This myth is busted!
BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
16y
I can't comment on this company, but our 1 post friends who have endorsed this company, Shelly and Karl, both share the same IP address from Littleton, Colorado, despite what their profile says. Make your own conclusions . . .