CREPIG

Commercial Real Estate Professional Investor Group

Upfront Fees for Loans Could be Sign of Fraud or Scam


I have written about scams in the REO bulk market and many others. I have worked with many phonies and learned the hard way. About a year ago a friend came to me with an absolutely great deal whereby we can get funded for deals directly via the Federal Reserve Bank.

After much due dilligence I decided to walk away as too many questions were not answered to my satisfaction. Many others that really needed funding did, however buy in to the program.

Most of the people were knowledgeable and smart people, but I tend to see that when a lot of money is at stake, many seem to through caution to the wind.

Anyway many got burnt. The good news is that the person responsible for the fraud was caught. The bad news is that my friend and his family were hurt badly and many others are still suffering from tremendous losses.

If someone wants money up front that should be a flag for you to do double the due dilligence you usually do.

See the story below.

Woman charged in $2M fraud case
Report: Valencia resident, 40, spent ill-gotten gains at high-class shops

By Jessica Selva
Signal Staff Writer
jselva@the-signal.com
661-259-1234 x518
Posted: Dec. 14, 2009 10:07 p.m.
POSTED Dec. 15, 2009 4:55 a.m.

A Valencia woman is in federal prison without bail after she allegedly scammed millions of dollars out of people to whom she promised loans, prosecutors said.

Pamela Terry, 40, allegedly posed as an employee of the Federal Reserve Bank and fraudulently promised 30-year business loans to about 15 customers at a fixed rate of 2.3 percent interest, according to a court affidavit.

She collected about $2 million in advance fees she called “minimum capital requirement,” the affidavit said, and she allegedly spent tens of thousands of dollars at stores like Gucci and Louis Vuitton.

Read More… http://online.wsj.com/article/BT-CO-20091215-709891.html

JW Najarian

CREPIG
CREDAA

December 15, 2009 Posted by | Uncategorized | , , , , , , , , | 4 Comments

The Commercial Real Estate Distressed Assets Association is now in Pre-Launch

CREPIG is launching a new site dedicated to commercial distressed assets and non-performing notes.

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credaa logoAre you engaged in the Disposition, Aquisition, Valuation, Determination, Development and / or Finance of CRE Distressed, Unstable or Toxic Assets, REOs or Non-Performing Notes?

CREDAA is dedicated to educating our members on current Commercial REO, Distressed Assets or Non-performing Notes and attracting legitimate investors, brokers, lenders and sellers to communicate together in on-going daily forums.

CREDAA, as an association, will be a powerful information resource for this industry as well as growing a community that will effect positive change. Come join us in our mission to support & educate you and to bridge investors with these assets. As a group, we will assist the economy by turning around our current bad debt in Commercial Real Estate markets.

As an association member you will be invited to help us support, educate and become an association for change in the CRE Distressed Assets Arena.

You are welcome to join us. We will be working closely with RIISnet (ARGUS Software) and their ADAPT Platform to offer disemination and aquisition of properties and are in the process of setting up alliances with the Commercial Real Estate Industry to help our members and other organizations towards solutions to today’s most pressing issues.

The Commercial Real Estate Professional Investor Group (CREPIG) Commercial Real Estate Investors, Property Owners and Professionals… Network, Find Funding, Promote your Event, Project, Product or Service.



JW Najarian

jwnajarian.com
CREPIG
CREDAA

October 26, 2009 Posted by | Blogroll, CREDAA | , , , , , , , , , , , , , , , , , , , , , | 1 Comment

Commercial Real Estate Professional Investor Group (CREPIG) says Hello world!

CREPIG.com

CREPIG.com

The Commercial Real Estate Professional Investor Group (CREPIG) was created on LinkedIn in March 31st of 2008 and has grown to over 6500 members at the time of this blog entry.

CREPIG was also opened up on the web at www.crepig.com in November of 2008 and now has around 1700 members.  The web site is much more descerning about it’s member and we have knocked off over 400 members in the past for spamming other members or shady deals.  CREPIG on the web insists on a recognizable head shot and completed profile before you are allowed to join.

The idea is to keep the quality of user at a very high level. CREPIG on the web is a very powerful group site that, unlike LinkedIn, allows a users blog posts to be searchable on the web. It also allows the member to upload video, documents and pictures. The Blogs and Forum areas are completely customizable for content with imbedded pictures and video also.

The huge power behind CREPIG is not just the quality of members or the searchable blogs and forums and is not even about the 24/7 CRE news from most of the major CRE news services, but the true power lies in the forum posts which not only populate the CREPIG site, but can be viewed by the more than 6500 members on LinkedIn in the CREPIG on LinkedIn News Section and is also fed directly to CREPIG on Twitter to over 10,000 targeted Twitter followers in CRE, Finance and Commercial Property related fields of all types.

This means that a single forum post has the potential to reach over 15,000 eyeballs at one time! This is very powerful and is a no cost proposition to the member.  If you were to submit a press release for this type of targeted audience it would cost, minimally over $300 per post. You can post all day on CREPIG at no cost to you.  At this time most members have not figured out this powerful feature, even after being told many times so the power is still wide open for now. This can not be a free service forever.

CREPIG is starting alliances with growing and influential companies and networks in the CRE space such as our new alliance with RIISnet. RIISnet is an ARGUS Software partner that has created the ADAPT platform for Commercial Distressed Assets (REO and Non-Performing Notes). RIISnet and ARGUS are working at becoming the focal point of distressed asset dissemination and CREPIG has set up the Commercial Real Estate Distressed Assets Association (CREDAA) to front end ADAPT as a social media platform.

CREPIG is also working with several other networking sites in joint to help support and share the power of each. Multi Family Insiders is one that we want to work closely with. This will bring the alliances and services of Multi Family Insiders to CREPIG’s multi family members.

This is the first of many posts from CREPIG. Our mission is to help further the abilities of CRE investors and professionals to find funding, promote their projects, products and services and help the industry through one of the most trying times it has ever seen.

Kindest Regards,



JW Najarian

jwnajarian.com
CREPIG
CREDAA

October 11, 2009 Posted by | General Posts, Uncategorized | , , , , , , , , , | 2 Comments