LeaseOne franchisee is a scam and after reading other folks complaints I fell compelled to spread the word. LeaseOne makes approximately $2,400, 000 per year that comes from signing up 10 potential brokers. Over the past year, President Joe Angelo has spent approximately $100,000 developing a cool website to sucker you into thinking it's a professional organization, its not! LeaseOne has no capital of their own; repeat they have no capital of their own!!! LeaseOne puts the majority of their leases through another leasing company, First Financial Brokerage in Princeton, NJ. The owner of First Financial is Robert Searcy who is Joe Angelo's partner in crime. Robert will take LeaseOne deals submitted by LeaseOne Brokers and try to get them approved by a leasing company he does business with; often times it will be Leaf Financial. If under rare occasion you deal is approved good luck selling it? Leaf Financial will tack on a fee, First Financial will tack on a fee and finally LeaseOne will tack on a fee and you'll be left with a breakeven interest rate of 24% that you'll have to add to get paid. I say rare occasion because 9 out of 10 times your deals will NOT be approved, repeat the majority of your deals will NOT be approved!!! The person taking your calls for approval at LeaseOne is Rick Lopez. The only deals Rick will be able to get approved are for business in existence for 10 years with a 900 credit score. If its approved you'll have to try and sell to these people at 12% - 15% interest; they'll laugh at you and call you a crook. Leas One's business is not to write leases, it's to sign up brokers/suckers like me who tried to put a few deals through, got rejected and walked away. After you walk away from the deal Robert at First Financial will make a follow up call and try to sell the deal through his own company at 8%. LeaseOne is in the businesses of selling the Broker program and they'll leave you high and dry once you finish the training in Boston. I worked directly in marketing for Leaseone in the Boston office for a few years so I know the inside track. All I can say is stay away from the $20,000 scam. If you want to be a lease broker many Leasing companies will do what Leaseone promises to do for free. If you want to be an independent lease broker I recommend you first join the National Association of Equipment Leasing Brokers (NAELB) for $295 and utilize their resources for free. Many Leasing companies like will do for free what LeaseOne is promising to do for $20,000. LeaseOne will try to write your leases through the leasing companies listed as NAELB sponsors. Go to the NAELB website http://www.naelb.org/index. Cfm and take advantage of what they have to offer. LeaseOne is a waste of time and more important, a waste of $20,000.
0 comments