Real Estate Investing > General Real Estate Investing

Stone Equity Group and The Investor's paradigm

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thejuggernaut:
i worked for stone equity group for some time and personally oversaw the rehab of several homes through out the country. first i want to say that this company does not care about its investors, home renters,chop buyers, or employees. they are and always will be the perfect definition of a slum lord. i performed property surveys and rehab estimates daily and 75 percent of the homes i saw are only worthy of a wrecking ball. despite my best efforts to have these projects turned down S.E.G. still moved foward with rehab. most of the properties i saw would be estimated for repairs in the 10k to 20k range but seg would only approve 5-8k repairs and have us cut corners with the rest. 95 percent of the homes they buy are in some of the worst neighborhoods and cities in the country. investing with this company is a very bad idea. i only hope i can reach enough people and convince them to stay away. these are the same type of people that ran our country into the shitter. they will take your money and screw you over. trust me.


the juggernaut


ps. many of there investor are already sewing them :anon

belaircorp:
I think you get the picture about "Stone" from the posts. Quite frankly, they spell out why I don't use partners. Why share profits when not necessary especially when you can make a killing by yourself? I would invest that 5K into myself and my education and not put so much trust in letting "others" do all the work for me. You can see the obvious caveat there.  What I want to adress is, although you don't have much time, why don't you learn some investment techniques; make some calls in the evening or hire someone to do it for you and set an appointment or two on the weekend. Flip some properties or lease option some for extra cash to go with your pay check. Trust me, it's the only way to fly. Remember, you never get something for nothing and if it sounds too good to be true, it probably is.  Good Luck with everything!

xh:
 Let's make some deals and get the money rolling. it's gone on long enough.

I like SEG's current program much better and wish we had done that the first place.

christopher w:
I think it is very clear what SEG is doing. They are wholesalers doing pass-through closings. I would contact the better business bureau and file a complaint. I know this does not help you, but hopefully it will warn others. Next I would file a fraud complaint with local law enforcement in regards to the real estate transaction. I am not a lawyer and I don't play one on television, but if they indicated to you that they were selling you a property they owned then that sounds like fraud to me.

mariaescate:
You seem to be very knowlegable on the law. There are lots of complaints out there against SEG not is not being reported on this forum. 

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