Pinnacle Development Partners, LLC ATL GA?
Any one heard of them, supposedly they buy foreclosures in ATL and promise investors a 25% return in 90 day s or less........sounds like a scam, but no complaints at the BBB
Any one heard of them, supposedly they buy foreclosures in ATL and promise investors a 25% return in 90 day s or less........sounds like a scam, but no complaints at the BBB
"A fool and his money are soon parted"
If it sounds too good to be true.......
(25% in 90days)
it usually is!!!
Jim
Did you get a prospectus from them or by word of mouth?
Jim
Quote:
On 2006-05-13 22:50, jimandlacy wrote:
If it sounds too good to be true.......
(25% in 90days)
it usually is!!!
Jim
The key word here is "usually"...
Some years ago my best friend was shopping for an investment deal on the internet. He located an offer from a hotel owner in Vanuautu- they had a cash crunch and needed 50k for three months, offering 25% (or 100% interest per year). He was a bit suspicious (see quote above, a favorite of his) and insisted that if he was to trust them, they would have to trust him also and sign over a deed to the hotel, with a repurchase option for the loan plus interest. They had no problem with this, so he went for it.
Did he lose his money? Did he wind up with a hotel in Vanuatu? No- less than three months later, they not only paid him off; they were so greatful he had saved their hotel that they gave him a $50,000 bonus!
So remember, If it sounds too good to be true it USUALLY is... but not always!!!
Indeed,
The message is to tread lightly and do your due diligence which it appears the poster is attempting to do. Trust is earned, everything else is a gamble. Never gamble more than you can afford to lose.
Jim[ Edited by jimandlacy on Date 05/14/2006 ]
I have not contacted them directly yet, this is information from their website. I was hoping someone on here might have heard or dealt with them. I know we have a several members in the ATL area and was curious to see if they have come across this group.
bringing this back to the top for fresh eyes...anyone in the ATL know this bunch?
I have contacted this company and they have sent me an investment packet by DHL. The packet looks good and is printed on nice paper. I have also looked on the BBB and it checks out okay there. They are also listed with the Atlanta Chamber of Commerce, but I have not spoke with that reference. Still trying to check them out a little more.
I have not yet found 1 negative on them.....but still unsure.....if you move forward, be sure to keep us up to date, thanks!
HI there my name is Anthony in Miami, Fl Pinnacle is for real I already have three investmets, the company has grown so large that they now build entire subdivisions in Atlanta. The make over 300% so borowung your money at 25% is actually in their best interest. They buy cash and so their are no leins. I got my first check already from them and I can email it to you as a jpeg file. Please email me at
**Please See My Profile**
I just finished talking to one of their brokers and I requested more info from them so they are sending me a welcome packet. Saw their ad in that commie magazine, Newsweek
I heard about this opporunity recently and I am very interested. I am a new investor and if this is for real, I think it can help jumpstart my portfolio.
aadharsingh, i cannot email as you have to pay to be able to email, and I am not ready to subscribe to this site, would you be able to send me the image of the check to **Please See My Profile** You help would be very much appreciated.
Thank you,
I have a good friend who has recently invested $5k with them (their minimum) and after 45 days received his 25% check back. He opted to get the money rather than ininvest it. He left the $5k in though. He will get $500 from Pinnacle if I join. I told him I would research so am having Google send me anything on them for next few months before I leap. Not so concerned about the $5k (would hate to lose it of course), but more so our degree of liability if something goes awry. Any, so far so good for my friend.
Hi this is Anthony again in Miami, Fl I have had no such problem with them in fact I just got my second return. I now have three investments with them no complaints. The company never said they train anyone I dont know here you got that info. The ppl there are cordial and seem very genuine. They have an inhouse CPA form what I gather. Please feel fre to contact me for more in and no I dont work for the company. There are about 1,000 satisfied investors now, see my profile for contact info. The company invests in preconstruction subdivisions now. The company has expanded to Detroit Chicago, and the funds deposited are not used to pay other investors but is invested in the direct purchases of properties
I too spoke to someone and received a well prepared packet with my name embossed on the folder. Very professional. Did a check wit the BBB and no complaint on them. Did a check with chamber of commerce. They didny say much except that they are registered with them. Called D&B and you need to pay $39 for some basic report and $100 for a more detailed credit report. Not sure what to make of them. My contacts in Atlanta hadnt heard of them. One interesting thing was they were etablished in 1998 but registered with the BBB only in late 2005. I want to show their docs to my attorney and ask him what he thinks of it. Wonder how they protect the capital and what happens if they dont sell in 60 days and is there any possibilities of falling below 25%
I saw their AD in USA TODAY newspaper last August..started with a $5000.00 investment ...as of today I have about $25K of my own money invested and my acct is worth about $55K...I have atleast 6-8 relatives and friends who have subsequently invested with Pinnacle... ..do your due diligence..we all did..my brother got in touch with his attorney and after reviewing everything his attorney bought in....you can get back to me ...with any questions or comments...
To SPINVESTOR:
Have you been getting your partnership agreement form on time and did bookeeping contact you before your return was due? Thanks.
garyinoceanside said
Quote:
There is another company which is highly reputable which buys and sells foreclosures in Atl and Philly and a few other cities which is not able to return this kind of investment. If you invest on the buying side, they return 10% every 90 to 120 days but you need to come in with the hard money of at least 150K each time. That also is a very good deal and you can also pick up good rehabbed properties for 2.5K through them and hold onto them.
What was the name of this other company?
The very reputable company I was referring to is Blue Moon Capital in Denver. I am purchasing one property in Philly with 20% equity, for 2.5K plus the cost of new appliances. I hope to get a positive cash flow with a 1 yr MTA type loan.
The person who referred me to Blue Moon capital also is invested in Pinnacle and is essentially content with both of them.
It is either a ponzi scheme or they are the dumbest financial people in existence.