Real Estate Purchase Co. Exit Scam

[ChasAO]

I recently received a call inquiring about my Diamond Resorts membership -- how many points did I own, what were my maintenance fees -- and suggesting there might be a "client" interested in purchasing my membership. I asked the name of the company he represented and was told "Real Estate Purchase Company LLC." Shortly afterward I got an e-mail with a "Letter of Intent" attached that said, "THE REAL ESTATE PURCHASE COMPANY LLC is currently gathering real estate vacation memberships and fractional ownerships in the top invested areas of Mexico and overseas." The "Letter of Intent" had the usual typos and offered a purchase price for my points that was well beyond "too good to be true." I found the company on the Web, and the website looked to be nothing more than a storefront; no BBB presence either. A followup e-mail from an account executive promised to work with Diamond to make sure the purchase went through, even thought Diamond was known to be "difficult" with respect to resales. I reported the contact to Diamond and asked if they were aware of this exit scam, but never heard from them. Just wondering if anybody else has been contacted by this particular scammer.

 

[Dude4Truth]

I recently received a call inquiring about my Diamond Resorts membership -- how many points did I own, what were my maintenance fees -- and suggesting there might be a "client" interested in purchasing my membership. I asked the name of the company he represented and was told "Real Estate Purchase Company LLC." Shortly afterward I got an e-mail with a "Letter of Intent" attached that said, "THE REAL ESTATE PURCHASE COMPANY LLC is currently gathering real estate vacation memberships and fractional ownerships in the top invested areas of Mexico and overseas." The "Letter of Intent" had the usual typos and offered a purchase price for my points that was well beyond "too good to be true." I found the company on the Web, and the website looked to be nothing more than a storefront; no BBB presence either. A followup e-mail from an account executive promised to work with Diamond to make sure the purchase went through, even thought Diamond was known to be "difficult" with respect to resales. I reported the contact to Diamond and asked if they were aware of this exit scam, but never heard from them. Just wondering if anybody else has been contacted by this particular scammer.

ChasAO... curious if you learned anything else about the offer? My parents got something quite similar. The representatives are Liam Brown and Daniel Ortega-Allen, neither of which I can find on LinkedIn as professionals in the industry. I cannot find any BBB presence here at the end of the year either. Let me know what you discovered or decided. Thanks!

 

[theo]

Your (one and only) TUG post asks about any "follow up" to ChasAO's (...also one and only) TUG post about a scam operation, which "Chas" posted here --- seven months ago.

If you are making a legitimate inquiry, it might be useful to understand and accept that what your parents own likely has very little (maybe even zero) resale value to anyone. If you are sincere and actually seeking to help your parents "out", look into DRI's deedback program (which they call "Transitions") --- a lawful, easy and permanent "exit" avenue.

If you are a scammer (or maybe even the original or affiliated poster trying to resurrect this thread about scammer "THE REAL ESTATE PURCHASE COMPANY LLC"), it would be wise to accept and understand that TUG is definitely the wrong place to try to work or promote any such scam. The centuries worth of collective experience represented on this site has seen it all before and scam operations like the one named (...twice now) in this one thread alone quickly and inevitably find only a very bumpy dead end road here.

'Tis the season. Maintenance fee bills go out and become due this time of year. Scammer activity, not coincidentally, rises accordingly --- with assorted (alleged) "exit" schemes. Just sayin'...

 

[RX8]

ChasAO... curious if you learned anything else about the offer? My parents got something quite similar. The representatives are Liam Brown and Daniel Ortega-Allen, neither of which I can find on LinkedIn as professionals in the industry. I cannot find any BBB presence here at the end of the year either. Let me know what you discovered or decided. Thanks!

This is a very common scam. It will usually follow a common pattern, likely because it is a group of common scammers

Cold call
A big cash offer
New website
No internet presence
Address in a big city, usually with no suite number because they aren’t really there.

This company is no different. They are offering many thousands of dollars for a timeshare that can be had literally for a dime a dozen. Their website was created February 2021. They have an address on Broadway in NYC and you guessed it, no suite number. It is all a scam. They will send documents and at some point they will demand a fee before they can release the proceeds. You pay, usually by a wire, and then they ask for another fee. They keep asking as long as you keeping paying and then when you don’t, they disappear. This scam works because you WANT to believe it is real because you can use the tens of thousands of dollars. It blinds one from seeing all of the red flags.

 

[dompy]

The Real Estate Purchase Company LLC is going to experience a very bad situation if they don't realize how many clients they have completely took advantage of in the timeshare buyout program they designed. If you ever get a call from Fred Golden Or Liam Brown to purchase your timeshare please do not participate in the lies and the misleading information you are about hear! They have no clue what they are doing and the client ( the seller ) means nothing to them.
Just like all the other scams for timeshares they are no different.

 

[TheTimeTraveler]

The Real Estate Purchase Company LLC is going to experience a very bad situation if they don't realize how many clients they have completely took advantage of in the timeshare buyout program they designed. If you ever get a call from Fred Golden Or Liam Brown to purchase your timeshare please do not participate in the lies and the misleading information you are about hear! They have no clue what they are doing and the client ( the seller ) means nothing to them.
Just like all the other scams for timeshares they are no different.

"If" The Real Estate Purchase Company, LLC is still in business then I would advise anyone to RUN AWAY quickly. They could care less of how many clients they take advantage of (the name of their game is the "More the Merrier").

The reviews indicate up front fees are required (when you get into the transaction) and we all know that up front fee operations are nothing but SCAMS. Additionally, most timeshare properties are worth little or nothing in reality.




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[LannyPC]

They have no clue what they are doing and the client ( the seller ) means nothing to them.

While most of your post might be correct, these people do have a clue what they are doing. They know exactly what they are doing. They might not know how to get people out of their TSs but they know very well how to get unwary TS owners out of their money.

 

[RX8]

The Real Estate Purchase Company LLC is going to experience a very bad situation if they don't realize how many clients they have completely took advantage of in the timeshare buyout program they designed. If you ever get a call from Fred Golden Or Liam Brown to purchase your timeshare please do not participate in the lies and the misleading information you are about hear! They have no clue what they are doing and the client ( the seller ) means nothing to them.
Just like all the other scams for timeshares they are no different.

This “company” has poor business practices because they are scammers, pure and simple. There was never a “sale” and there was never going to be a payment to you. They created their existence solely to scam people for money. They are also out of reach of the US authorities because they are in Mexico. Sorry that you have been scammed.

 

[SJackman]

RX8, LannyPC & others, I'm trying to figure out whether you're speculating that this is just the usual scam or if you actually have information about The Real Estate Purchase Company. I've been contemplating a transaction with them and I feel like I'm reasonably decent at spotting scams. They've passed the sniff test so far. But now you've got me concerned. If you have more info to provide it would be greatly appreciated.

 

[RX8]

RX8, LannyPC & others, I'm trying to figure out whether you're speculating that this is just the usual scam or if you actually have information about The Real Estate Purchase Company. I've been contemplating a transaction with them and I feel like I'm reasonably decent at spotting scams. They've passed the sniff test so far. But now you've got me concerned. If you have more info to provide it would be greatly appreciated.

This is a scam and a very common one. It has been around for many years, quite possible the same handful of scammers. They start a new website/name, scam people, close the website and do it again, and again, and again. We know this is a scam for the following reasons:

1. Unsolicited cold call
2. Offering big bucks for a timeshare that is worth zero or close to it
3. New website created only months ago
4. They actually have two websites - realestatepurchasecompany.com (created February 2021) and repcompanyllc.com (April 2021) No legit company has two similar websites
5. Address on Broadway in NYC (very expensive for a new company don't you think?). If you call the landlord, they will assuredly tell you that they have never heard of this company.
6. Supposedly in a high-rise building (18 stories) but they don't even list a suite number (because they are not there)
7. No phone number listed on their website
8. State of New York has a record of “The Real Estate Purchase Company LLC” that was started in 2004. However, scammers will sometimes utilize legit corporation names and will use that to make people more comfortable in doing business with them. There has been no updates to that business entity since 2006 and there is no internet presence. I have seen other scammers pay a nominal fee and file fraudulent documentation to reactivate old corporation just so they could point to their “in business for xx years”.

Finally, although they state they are in NYC in an 18-story building their website states that this is their office. Does this look like NYC? It doesn't of course. A reverse Google image reveals just one website using this picture is a Nepal house design website.

The reason that this scam has been around for many years is because people WANT to believe it is real. This company shouldn't be able to pass the sniff test, but many people lose their sense of smell when a big cash offer is presented to them and they then fail to see the red flags. This company not only doesn't smell right, it smells of rotten meat.

Hopefully we have saved you from losing thousands of dollars. There was a recent post of someone losing $55,000 to this scam. Link - BEWARE of selling time share with abi-holdingsllc.com | Timeshare Users Group Discussion Forums (tugbbs.com)

Edited: Found yet another reason why this is a scam. If you look at their testimonial by "Chaniel Cagle" and "Angus Williams" you will find that their reviews are the same as Pierre Comeau and Heidi Fisher's reviews at a legit website - CLIENT TESTIMONIALS — Marsden Real Estate. It is common for scammers to steal their "reviews" from legit sites.

 

[TheTimeTraveler]

RX8, LannyPC & others, I'm trying to figure out whether you're speculating that this is just the usual scam or if you actually have information about The Real Estate Purchase Company. I've been contemplating a transaction with them and I feel like I'm reasonably decent at spotting scams. They've passed the sniff test so far. But now you've got me concerned. If you have more info to provide it would be greatly appreciated.

RUN....... Don't even think twice about it. Move on.



.

 

[SJackman]

RX8, thanks very much for the detailed and helpful response. Here's a little more background about my situation. I own a vacation club membership, not a timeshare. With a great deal of effort after my initial purchase turned out to give me less than I'd been promised, I cut a deal that permits me to purchase unlimited weeks at a very attractive price. I can see why that would have significant value to a third party, and the membership is transferable. I'm not aware of any other resale market for my membership, so I don't know if they're offering me more than it's worth. It's therefore not obvious to me that the deal is too good to be true, but it's a pretty attractive deal. You've got me close to concluding that it's nevertheless probably just a scam like all the others. I guess I'm conjuring up reasons to think my situation is unique, since the money sounds attractive, when I'm probably just on the verge of falling victim to this same scam and should bail on it.

 

[bnoble]

If a friend came to you, and told you what you just wrote, what would you tell them?

 

[SJackman]

Nice way to put it. You're right, I'd tell him to bail.

 

[RX8]

RX8, thanks very much for the detailed and helpful response. Here's a little more background about my situation. I own a vacation club membership, not a timeshare. With a great deal of effort after my initial purchase turned out to give me less than I'd been promised, I cut a deal that permits me to purchase unlimited weeks at a very attractive price. I can see why that would have significant value to a third party, and the membership is transferable. I'm not aware of any other resale market for my membership, so I don't know if they're offering me more than it's worth. It's therefore not obvious to me that the deal is too good to be true, but it's a pretty attractive deal. You've got me close to concluding that it's nevertheless probably just a scam like all the others. I guess I'm conjuring up reasons to think my situation is unique, since the money sounds attractive, when I'm probably just on the verge of falling victim to this same scam and should bail on it.

Unfortunately, Mexican vacation clubs are not hot commodities. You have claimed yourself that what you got isn't what you were promised when you bought it. If it is such a great product, then the salespeople wouldn't have to lie to sell them. People give these away for free, or they just stop paying the annual fees, just to get out from it. What you own, even after they tried to placate you by adding "perks", still is likely worthless on the resale market. It certainly isn't worth the tens of thousands that this "company" is offering.

Think about it for a moment. How many legit cold calls have you ever received by some otherwise unknown outfit who wants to pay you tens of thousands of dollars? It NEVER happens unless it is a scammer. You seem intent on wanting to proceed. If you do proceed it is a 100% guarantee that at some point these scammers will ask you to wire them money. They will convince you that these are Mexican Government or bank fees that that must be paid before you get your big check. They will tell you that they cannot come out of the proceeds and that it will be reimbursed to you with your big check. After you tell them that you will not pay any upfront fees they will then threaten to sue you for backing out of the deal unless you pay them a percentage. In addition, you have likely made yourself known as a potential victim and your information will be passed around/sold to other scammers.

This deal isn't any different then something like this:

You - (phone Rings) "hello?"
Scammer - "Hello, my name is John Doe and I am with The Real Car Purchase Company". I understand that you own a 1998 Ford Escort. My company is starting a used vehicle dealership in your market area and we are actively purchasing used cars. We are prepared to pay you $28,000 for your 1998 Ford Escort. If that sounds agreeable to you, we can send you the purchase documents right away.
You - Sounds good, are there any fees to be paid upfront?
Scammer - Absolutely not! Please provide your details and we will email you the documents.

(You receive the documents, sign and return them)

You (Phone rings) "Hello?"
Scammer - "We received your documents, thank you! Unfortunately, we have determined that there is a "Pre-2000 used vehicle cash for clunkers reimbursement fee" due on your 1998 Escort. That amount is $3,200 and we must have proof that it is paid by you. You can wire us the money and we will remit it on your behalf. However, we can reimburse you for this fee with your $28,000 check proceeds."

(You wire the funds)

You (Phone rings) "Hello?"
Scammer - "We received your fee, thank you! Unfortunately, there is a Gasoline tax due on older cars because they have such poor MPG. That amount is $1,345 and must be wired. The good news is that it is also reimbursable. "

(They keep asking for more fees to be paid, you finally decide it is a scam and you stop paying)

(You dial the scammer and find that the phone is disconnected)

This sounds ridiculous, doesn't it? This is exactly the same scenario that you will be dealing with.

 

[SJackman]

I had been pretty intent on proceeding, but I think you've managed to get me to see the light. They are very definitely asking for money upfront, and they say it's for a government tax requirement, just like the other scams described here. I didn't realize the next step of the scam would be to try to get me to throw good money after bad, but now I can see that coming. I'm going to read all of today's responses more closely and give this some more thought, and I'm going to look at their website and the picture of their office to see exactly what you meant above. But I expect to decide not to proceed. RX8, I greatly appreciate your thoughtful responses, as well as all the other responses here.

 

[Iggyearl]

Mr. Jackman, RX8 is the resident sleuth on Tug, as he has forensic abilities that most of us don't have. Hear him out. Money wired to Mexico is on a one-way journey. It never comes back. Please read the contribution below. It is from a humble person who posted only with the intention of helping his fellow man. Most people on this site don't brag about being screwed. This person was unselfish. LEARN from him:

Getaway Travelers Inc, Going Places Travel Service, Escrow Holding Management. SCAM

I was contacted by Going Places Travel Inc (supposedly out of 2180 Satellite Blvd #400 Duluth Georgia 30097) early 2017 (Ron Fuentes, Jacob Diaz, Robert Kistner and also had a fake guarantee signed by David Marple (CEO). Whom are affiliated with Getaway Travelers Inc.(400 Galleria Pkwy SE STE...

tugbbs.com

 

[TheTimeTraveler]

Mr, Jackman: Tell them that you'll do business with them if they are willing to take their expenses and phony Mexican taxes out of the proceeds of the sale. This is how any legitimate real estate transaction occurs in the USA.

That said; There will be nothing but silence. Click. They're done with you once they realize that you've woken up to their up front money scam!

NO UPFRONT MONEY EVER for a Real Estate transaction.



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[RX8]

I had been pretty intent on proceeding, but I think you've managed to get me to see the light. They are very definitely asking for money upfront, and they say it's for a government tax requirement, just like the other scams described here. I didn't realize the next step of the scam would be to try to get me to throw good money after bad, but now I can see that coming. I'm going to read all of today's responses more closely and give this some more thought, and I'm going to look at their website and the picture of their office to see exactly what you meant above. But I expect to decide not to proceed. RX8, I greatly appreciate your thoughtful responses, as well as all the other responses here.

These scammers are good at what they do. They have documents that look legit and talk a good game. They have been perfecting their scam for years. And why do they keep on doing it? Because people keep falling for the scam and sending them money. You are starting to come around but you are still not 100% convinced you will be scammed. This is even after every person here is telling you it is a scam. Not every person contemplating doing business with these scammers ends up on TUG to ask the question you have. Those people who don’t research have no chance to avoid being scammed. I think you already know it is too good to be true since you searched out the company. Your gut feeling is correct.

 

[LannyPC]

Tell them that you'll do business with them if they are willing to take their expenses and phony Mexican taxes out of the proceeds of the sale. This is how any legitimate real estate transaction occurs in the USA.

But then their response will be, "But that's how things are done in Mexico for timeshare purchases. The Mexican government requires that the seller pay these fees. Unfortunately, we can not legally release the funds to you until you, the seller, pay these fees. But don't worry, we've told the buyer to include the amount of these fees along with the purchase price in his check. So you better hurry up and wire the money before he changes his mind."