Property 23 reviews and complaints
Rip Off
As a former employee of this company I would urge anyone interested in buying real estate from Property 23 to avoid it at all costs. I left the company on my own accord due to the company's utter dishonesty and unethical business practices. I say this not as a bitter or be-grudged former employee, I say this knowing how poorly they treat their clients. They will do or say anything to get your money. They will screw you over just to save a buck. Please, please do not allow them to rob you of your hard earned savings. They hide facts about the properties you purchase, and once you have bought the property it is you who will have to pay the city fines, repairs, and tax liens. They will lie to you. If you are interested in quality real estate and an honest company I have friends who have used REIC (Real Estate Investment Company) and had wonderful experiences. I'm sure that another post will appear after this from the company's owner, Sean Whalen stating I am a bitter former employee seeking revenge. However, this is not the case. I just can't stand by and watch people swindled out of their hard earned money. Please don't let it happen to you.
Company Business Name: Property 23
Country of complaint: United States
The complaint has been investigated and resolved to the customer’s satisfaction.
Bad Investment
Beware of these people and make sure you do your due diligence before you commit to purchasing a property from these people. Run the comp's in m the area theyt are trying to sell to you. Don't listen to the bull about Zillow which is a real estate appraisal site the numbers aren't right but thats what they use to conveince you your buying at wholesale numbers. I purchased a property with the intentions of buying repairing and flipping. Well I had all the repairs done listed the house on the internet in more than 30 sites and haven't gotten one single response. They tell you and make you believe that they are going to help you turn the property when all they do is train you on where to list your property. They'll tell you that out of state investors will buy your property which is ### a investor is going to get the best deal possible and it wont be yours if you purchased it from these guys. You will be buying at retail numbers not wholesale. The first Management company they provided to me ran off with the first funds (deposit and rent) after they rented the property and I didn't even know until after the tenant was iyour property whethn the property for 1 month. I found out when I finally listed it with a local real estate agent and the agent goes to the property and there someone living in the house. It has been a mess I live in Dallas Tx and purchased in MO. This was not the investment I was looking for now all my funds are tied up and I'm stuck. Also, if you'll look they are your competition they will not sell your property for you. If your looking for a long term investment go do your own due diligence and buy from a real estate agent in your area not out of town. Don't let them do to you what they did to me push push push I'm smarter than this but it sounded so good and they convinced me after telling them it didnt look good from the comp's I was looking at. Their excuse was they are the professionals and have been doing this for years and know what their talking about and for you not to worry investors from out of the State would purchase your property for a investment even though it was higher than the other property in the area.One more thing they purchased the property at $12, 000 did nothing but get a quote from a local contractor for the repairs and sold it to me for $26, 000. They did well I've now got $31, 000 after repairs and will never sell this property until the market goes up so I'm stuck.
Company Business Name: Property23 / Empower Group
Country of complaint: United States
Address: Orem, Utah
The complaint has been investigated and resolved to the customer’s satisfaction.
Don't know the specifics but when it comes to real estate investing, you really have to understand the model and the people behind it. It is very possible to get 30% to 40% yields, even in this market. Our group does it all the time but we do it using a shared housing model. I hate that you all have been burned or feel like you were...I had a similar experience when I tried to use turnkey groups to invest out of state. Even if you have a non-performing property, try turning it around with shared housing. The real money in real estate today is in NOT owning it for very long, partner with someone in a market you like to buy, repair, rent and sell it off. Avoid buying any kind of "rent-ready" property unless the working partner has a solid plan to rent & manage the property. A REI group or places like BiggerPockets are great ways to vet investments before you get in too deep. If whatever model they are using doesn't make sense to you...common sense...walk away. In my experience, anything too complicated isn't going to benefit you.
Contact Bobbi at: bobbi.jelovchan@yahoo.com--if you want to join in on a class action lawsuit against Property 23, Empower Group, Sean Whaylen, Nate Heaps, MT Blue, Jonathan Day etc. and all of their conniving associates!
I've got a feeling boomer is actually Barry.
If you're getting 30-40%...I'd love for you to tell me and everyone else EXACTLY what you're doing and when and where you bought your properties. Instead of saying we lie about the numbers tell me EXACTLY which numbers we lied about...and I'll show you where you're wrong. NUMBERS DON'T LIE. But again if you're telling everyone how easy it is to get 30-40%, I'm all ears. Oh, and don't make stuipd general statements like, "They lie about the numbers" or "You should be getting 30-40%." I want specifics. Bottom line is dorks like you don't like specifics.
I went to their presentation in Honolulu. Who do they think they are kidding? These are "trailer-trash" properties with poor (if any) real value for either positive cash flow or ability to flip. They represent the worst of Snake Oil salesmen for the 21st century. They lie about the "numbers" (or just don't know 2nd grade math). I don't know how people like this sleep at night. Please talk to your local Real Estate Investors Association or start with www.nationalreia.com/ to find a group in your area. You should be able to get 30-40% on your investments since inventory is so incredibly high; don't get excited about 10-15% gains - you can do better than that blind-folded throwing darts at a board.
This site is worthless, do not buy anything from property 23! I was told this is great investment and lost 19, 000 on a house that is not even worth 5, 000 in a bad nighborhhood. After I purshased the property I came to find out that it needed at least 15, 000 in repair and all the coper has been stolen and to top it off there are back taxes on the property and it can not be sold untill all taxes are paid. Free and clear my ###! I also had the same problem with homeless people living in it that was a risk to the realestate agent that went by to look at it! she had to call the police and now she does not want to return. Do you blame her! No mater how many sites you post it or list it to, it will never sell because of its condition and location. What is the better business bereau is doing about this? That is my next complaint! I live out of state and the property is located in MO. same as the other gentleman that has to deal with this crap! Buyers be ware! they paint a pretty picture but the canvas is rotten!
Many, many clients have been scammed by Sean Whalen! I hope everyone responds who has been "taken" by Sean Whalen to the previous email posted by Roberta Jelovchan! email: bobbi.jelovchan@yahoo.com
I too was defrauded by Sean Whalen and his associates in similar ways noted in the foregoing posts--only I lost a lot more money than they did! I agree we should file a class action lawsuit against him, his employees, his "alternating named" companies (Property 23, MT BLUE, Invest-in-a-Rental, Green Clover Properties, Empower Group, etc., etc., ) The problem is--that in spite of there being dozens of complaints made against him on various internet "complaint sites"--no one ever lists information about how to get in touch with them and collaborate information which would justify/allow a class action lawsuit. Sean Whalen had defrauded over $7.8 million dollars from people living in Utah alone--according to a newspaper article published in January, 2010 in the local newspaper: "The Daily Herald" located in Provo Utah! He continues to scam clients because there is never any collaboration done/made between/among those he has defrauded! I am completely willing to disclose my personal contact information if anyone wants to contact me! If all of us who have been defrauded by this man join forces--it shouldn't be too costly if we split the price of an attorney! I'm also going to contact the UTAH ATTORNEY GENERAL and other Utah State Regulations offices about these continuing/ongoing/multiple cases of fraud associated with Sean Whalen, his companies, and his employees! Hopefully you will do the same--this man needs to be stopped and legally prosecuted! Please feel free to personally contact me--the sooner the better!
Roberta Jelovchan
301 E 5300 S
SLC, UT 84107
email address: bobbi.jelovchan@yahoo.com
I just wish your company would talk to me and help me to get rid of this house I purchased from you one year ago. It was listed as having a Bankers Price Opinion of 64K. Found out later that it wasn't a BPO, it was zillow or real quest. It wasn't worth 64K or even close to that. It would be worth 20-25k fixed up with a renter in it. I can understand being off 5-10K +-, but 40K off is down right unbelievable. I called your company asking for help, maybe list it on your website and help me sell it. They just said they don't do that and I was on my own. I have put it on numerous sites and have never had a call on it. Coaching program was a joke. I have personally emailed Sean Whalen 3 times now asking for help and nothing. I don't want to trash anyone or their company, I just want help!
I was scammed. Do not deal with them. They are so nice to deal with when they want you to buy a house. Makes it seem like a no brainer. I was told that the house I was buying had a BPO (Bankers Price Opinion) of $64, 000, so I wasn't too concerned buying the house for $16, 000. There was so much room for error I really didn't think there would be any way in heck I would end up losing money on this. Boy was I wrong! After I purchased I called the real estate agent they lined me up with and she informed me it was NOT worth 64k it would be lucky to pull in 20-25k after it was fixed up. I called customer service at Prop 23 and all they could do or say was that it wasn't a BPO after all, it was from Zillow or Real Quest. We were furious! I had even spoken to Sean Whalen before we got involved with his company to get a feeling of what type of person he was. Since then I have tried contacting him numerous times and I get no response whatsoever. Also the neighborhoods they have properties in are not good areas. My property has been stolen from twice and I'm pretty sure it is the contractor he set me up with or his workers. I have now had this property for 1 year (Sept. 16, 2010), finally got a tenant in there in July 2011. The house will probably sell for 20-25k. I have put close to 30 k into it. The whole experience has been a HUGE NIGHTMARE! Anyone else interested in a class action lawsuit?
Sean,
Thanks for the comment. I wasn't aware that Amy was working for REIC. I learned of them through a family friend who had success. I doubt you even know who I am or that I worked in client relations and dealt with Property 23s problems everyday. You are entitled to your opinion, as am I, based on what I saw every day.
Many people love to hate success when they can't have it themselves. Amy I'm sorry you feel the way you do but you were terminated from Property 23 for a sub-standard work ethic. I'm sure you don't like us for makin that decision but I and P23 wish you the best with Kris and REIC. Has Kris told you yet how he bought some of his very first property from me? I must be doing something right if your company found thir beginnings using and investing in Property 23 properties.
All the best.
Sean