ALERT: DO NOT LEND OR PURCHASE NOTES FROM CHARLES OR KIM PETTY!!!
Read my story.
Sometime In September 2007 I received the Charles and Kim Petty The Ultimate Turnkey Wholesale Systems. As part of receiving a full refund for the course, I agreed to lend them $50,400 money from my IRA account. It was for Mr. Charles Petty to purchase a residential home to rehab and then sell it. The loan was for 14% interest payable every quarter until the property was rehabbed and sold. I offered to loan him the purchase price first and then send him increment payments as the property was being rehabbed. He convinced me to give him 70% upfront of the After Repair Value. Due to his reputation as a wholesale guru, I gave in. I sent him the money and he set up a trust named after the address of the property with him as the Trustee.
The result. He made only one payment. He promised to pay on numerous occasions and now has not submitted any payments for almost two years.
I recently learned that he has abandoned the property and was condemn by the city. I am out my retirement money. I also spoke to a elderly woman in California and learned that he had borrowed an unsecured note from her for $10,000 about two years ago promising her 18% interest but never paid her principal back. She is also out that money.
My advice. Please do not buy notes or lend money to Charles and Kim Petty, or any of their companies. Also, do not purchase their wholesale course. It is not worth it!
They also operate as Visionary Publishing; Visionary Property Investments; Visionary Property Group. Look out for these names.
I feel very bad for you. Do you have a way to track him down? It seems you should have some way to file suit or something.
Although, you should have known something was up right about here:
We have no proof of any of these claims you are making about these people. Why are you after 2 years of not receiving payments just now coming out to tell the world about your story?
Who is to know what you are saying is truthful?
Why would anyone agree as a condition for receiving a refund on a course that without my knowing the cost is probably no more than $1500 at the most?
Okay to receive my $1000 back I have to lend you $50,000?
If you had a first lien on the property why didn’t you foreclose instead of going thru two years of no payments?
Please help us understand because right now you sound more fraudulent than Kim and charles petty!
:banghead Oh wow sue him would have never given him that much cash without lawyer.Good luck with getting your money back.
Wow I have access to way to much info!!
They currently own 3 houses all under a trust. (Hard to go after)
Bank at Regions bank (Easy to attach a lien to if you can get a judgment)
And I found 4 phone numbers!
I have been doing this way to long! LOL