Patrick Olmstead is a Con-Man, a Fraud and a Liar. I am an Atlanta Commercial Real Estate Broker that has had dealings with this guy be careful. For nine months I worked with this guy to secure an auto dealership in the Atlanta area, which he claimed to have the financial ability to purchase such a property. Just as a warning, although the guy will swear to it, he doesnt even have earnest money to even be looking at such transactions. If anybody is looking to do any business with Patrick Olmstead, Save Your Time And Money!
He claims to have a plan to start and purchase Buy-Here Pay-Here car lots, and claims that he brokers cars via the internet, but from my experience, hes never done any of that, and I have recently learned that he owned a nightclub for a few months which failed. If you engage in any conversation with him you will soon learn that he is not as knowledgeable as he makes out to be about any business. When negotiations got heavy he stopped calling will hid behind the fact that he was ill, in that he claims to be wearing a pacemaker. I later learned from his advisor that he hid because he didnt have the capital or knowledge to continue past a months worth of phone conversations and meetings. Several months later he returned with an advisor who negotiated a contract on his behalf, but he never had the earnest money to effectuate the contract.
I am only posting this report here because of my past experiences with him and the fact that he cost my firm time and money in an effort to facilitate a transaction that he could not do. I believe he will hide his true financial situation from you and make you believe he has the wherewithal to acquire a business and property. I was recently notified by his advisor that he filed bankruptcy not long after acquiring another Atlanta business a few years ago. Here is the link:
http://www.ganb. Uscourts. Gov/judges/opn/opn_view.php? Id=321
A guy like this can not buy a business and does not have the knowledge of how to facilitate a transaction of such. Please save your time and money with dealing with this man. His efforts are not genuine, so I regard him as a Con Man, a Fraud and a Liar.
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