Companies incorporated scammed, scammed, scammed by well oiled liars and con artists who don’t give a crap about the client. Santa clarita nationwide | Companies inc sold me a company with a guaranteed real estate line of credit which does not work. It cost $19,604.00. | I purchased this company with a guaranteed line of credit of up to one million dollars for buying real estate. | The line of credit is supposed to be available regardless of credit score, and without collateral, other than the subject property and without any personal guarantees, as long as the purchase price is 65% of after repair value Arv). | My business partner and i had a house appraised at $850,000 It was appraised 3 times over a period of 9 months, with an arv of $950,000-$975,000 and we requested loans several different times for three different amounts over the course of 10 months. | The first loan was for $600,000, 71% of ltv and 63% of arv; | Second loan request for $550,000, 65% of ltv and 58% of arv, and | Third loan request for $450,000, 53% of ltv and 47% of arv. | They were unable to perform and finance the deal as guaranteed. So | For the $600,000 amount kevin wessell, owner of companies incorporated, asked me to use my house as collateral. Specifically what i did not want to do, and what he told me i would never have to do, and why i bought this program. | Second kevin requested i set up a trust to allow him to share 20% of the profits. Again the deal fell apart. | Third kevin wanted someone with a good fico score to be added to my company and to sign for the loan. Again, specifically what i did not want to do; and what he told me i would never have to do, and why i bought this program. | Kevin finally found a person Name omitted) who was added to my llc to do the guarantee and still kevin was unable to perform as promised. | The company i bought was for a specific purpose and they knew that purpose. After they were unable to perform they told us, well not every deal goes through. Their website boasted a 100% performance so long as parameters are met. We went beyond meeting their parameters. They even gave us a letter of pre-approval for $1,000,000. | My partner and i waited and worked with them for the past year to allow them a chance to perform. I really wanted this to work. I stood to make $200,000 – $400,000 from this one deal. However, since they could not perform i requested a refund of my money. They refused. Their response is, go out and find other properties. | In october of 2007 the credit card company granted a temporary refund of our money until companies inc responded. Companies inc responded with libelous and slanderous remarks to the credit card company. It appears that visa rules do not aid us due to time and we must seek other remedy avenues. | I printed out companies incs website from august of 2006, when we bought their scam – now they have changed their website as of january 2008. Their response to the credit card is that we altered companies incs website and printed it out to show their guarantees. We did not and do not have access to their back office to make such changes. Pretty bold lie. | Here are the immortal words of matt, an employee of companies inc. When i informed him that i will request a charge back from the credit card company. He said, we are a huge company who makes a lot of money for these credit card companies because their clients use their cards for our services, you really think they are going to listen to a little nobody like you. Get real and move on with your life. | Companies inc charges that we purchased four products from them and our dispute is over one of those products. Let me set the record straight. I informed matt and kevin that we are not interested in the llc, the credit builder program or the real estate course, only the line of credit. They informed me that the credit line for real estate purchases only comes with the llc, or company, the credit program is part of that already, and the real estate course is to learn how to structure the deal. | 1. The llc was delivered, but then a few months later they brought in a third person to be the president in order to attempt to secure the financing. Now it is no longer my llc. | Note: i have been in the incorporating business for 11 years and do not need anyone to incorporate me. I bought the llc for the credit alone. Matt and kevin were advised of that fact on several occasions and about 20 times before and during the purchase. | 2. The credit program. I talked to a guy, from business credit services, a couple of times who collected my information and sent me a regurgitation of that information along with information on other companies having similar names and how i should protect my company name. I set up the company i told him about, it was not the llc purchased from companies inc., and he sent me a100 page report on information i told him or am already aware of and they call this a credit building service? I do not need secretarial services. | 3. The two day training course on how to structure a real estate offer. Again i informed them i have been involved with real estate for many years, but they insisted as this will show me how to do the proposal structure. Kevin and rusty, the owner of endeavor, the company which puts on the 2 day course, both assured me it was good as done. We can close this within 7-10 days assured me kevin. The real estate course was nothing more than a glorified sales pitch for endeavors other courses which cost $2,000 plus. | 4. The up to $1,000,000 line of credit for real estate purchases so long | As certain parameters are met. The parameters are: | A. Pictures and purchase contract | B. Appraisal | C. Comps, preferably a cma from a real estate agent | D. Plot map | E. Map of how to get to property | F. Letter requesting loan and stating that it is for business purposes | Thus allowing them to charge higher interest rates than would be | Allowed if the loan was for personal use. | G. List of repairs | H. Plan of action how do you plan on recovering the money. | We complied several times to try to help them finance us as guaranteed.. | Mr. Wessell chose to concentrate on the first three services to claim that services were rendered. Conveniently forgetting to deal with the only reason we bought this llc from companies inc. – the line of credit. | His response to the inability to deliver on the money is amazing. He lies about their guarantees on their site and charges us with fraud that we altered their website. Since he, along with his employees, view their clients as nobodies they figure they can continue the scam attack and feast on these nobodies. By the way they do not offer these programs anymore and have changed their website to attempt to refute all of our claims. They dont seem to realize that all past websites are secured and on record. | He also lies and claims that they do not loan based off of the arv. At the 2 day course, slide 106, entitled getting cash back rusty and kevin demonstrate this scenario: | Property is worth $100,000; | You negotiate to purchase it for $80,000; | And the seller carries $30,000, | Then you only need to pay the seller $50,000 | However, by using the structure they are teaching | You will borrow 70% of the $100,000 | Thus acquiring a loan for $70,000 | You will pay seller $50,000 | Thus pocketing $20,000. | Mr. Wessell made an outright lie to the credit card company telling them that such deals do not take place; that loans are only based off of the purchase price. Yet mr. Wessell is willing to refuse to perform and yet claim, our goal is 100% customer satisfaction. On his website. | Another lie mr. Wessell was quick to conjure was that i only submitted one deal to him. First of all their site, the 2 day course, and companies inc. Do not condition financing on submitting multiple deals. This deal had a $200,000 – $400,000 profit spread. | I asked kevin about 30 acres i wanted to purchase and develop at canyon lake, near a property i already own out there and he recommended i move forward with something which could generate money quickly and then move on to such a project. The oak estates property had $200,000 – $400,000 but no deal. | I asked mr. Wessell about a second property, located on villa ave, and he ran a comp and said it would not work. I moved on. | I asked about a package of 319 homes i had available to purchase and he passed me on to casey, one of his people, for help, but then i could not reach anyone to give me direction or an answer as to what was happening. That deal was not completed. | 321 homes submitted and no deals. I stood to make about $7 million dollars on the 319 homes package. | I complained to the better business bureau and kevin offered to pay $500 as a compromise to a program which cost us $19,604. Companies inc responded and the bbb simply marked them as having resolved the issue. I complained again about the incorrect listing by the bbb and after 30 minutes of discussion they agreed to change it to unresolved. | I was scammed and will continue pursuing a resolution. | Beware. There are many scams and this happens to be very well disguised. Kevin is slick and very personable until you ask for a refund. He is not available for calls after you show dissatisfaction, even though you can hear him in the background telling the secretary to say he is out.