Don't sign lease purchase option that has anything to do with Lee Michael Amsberry / AKA / Michael Lee Amsberry. Did business as LMA Properties for several years, in 2003 filed Bankruptcy and is now doing business with a new company name. Possibly Accurate Construction or EZ No Qual Homes.
This is a possible rip off for home seller and/or home buyer. We lost 2 homes because of this man and the way he does business. He seeks out FSBO homes or families that are are having financial difficulties with their properties. Appears as a Property Management Company that pomises to find renters and fully maintain the property. Also will make your monthly payment for you and draw up a contract to purchase your property in 36 months at a profit. Sounds like a great deal.
He just did not make our payment for us even though he was collecting rent from a tenant. Our home eventually went into foreclosure, he went to auction purchased our home for $55,000 less then what he was to pay us, then flipped the property to profit $65,000. He accepted an $8,000 deposit from the tenant, collected $2000 a month from the tenant for 7 months. Over $80,000 profit.
After we began proceeding to go after this crook he filed Bankruptcy under an LLC. And now is doing the same business under a new name. Unsure that we would win anyway. It seems with an LLC after the name the law protects them. It is legal to do this without a real-estate license.
BEWARE if you see this man's name on any documents that you may be signing. He has sales rep's to represent him, so you may never know.
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