This company markets residential property for sale as an investment with the owner finance option. You buy the property outright for as low as $35,000 and they pay you $400 a month for 12 months until "they" find a buyer for you. They indicate they they get "qualified" buyers within 3-4 months who then pay you their mortgage of $400-$500 per month. They market these properties in various states, such as Ohio and the mid-West where property values are low. It all sounds great, but after more than 18 months, they still have not met their obligation. They always say "they have some prospective buyers" but are very coy to provide any details. They will not even provide the names of their property managers. Their e-mail do not include their phone numbers, addresses and and Google search for the company even comes up empty. After the first 12 months are over you are one your own. These houses are foreclosures in bad neighborhoods and need a lot of work to sell. They dont' tell you about any of these possible issues such as maintenance costs, property tax, vacancy registration, vandalism, theft, potential legal enforfement by the city, potential condemded property, etc. They tell you that they can sell the property for $50k-$60k, but in reality, the fair market value is below the original $35k investment. Speak to a local realtor in the area before making any decision. Don't let thier quick turnaround tactics fool you as they did me. I have heard other horror stories from other investors who have been faced with condemed properties by the city and other expensive repairs on a house they were told is "move in ready". ACIC, Wood Ranch Partners and Martin J. Mair are con-artists. They are only after your money.
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