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  #1  
Old 10-08-2009, 08:43 PM
yspvictims yspvictims is offline
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Location: Dallas, Texas
Posts: 7
York Street Properties - Investment/Mortgage Scam

Investors, Tenants, Potential Tenants, Contractors - BEWARE - this company and it's ownership should be avoided if you value your investments, good credit and personal or business security. Here are a few reasons, please feel free to do your own research - JUST BE SURE YOU DO - Lance Puig and York Street Properties, York Street Homes, York Street Investments and the numerous LLC's this organization operates under have caused 100's thousands of dollars of loss, 100's of wasted hours and countless heartaches for good people:

1) Debts and returns on investment are not honored in a timely fashion, if at all.
2) If you're tenant don't believe if you rent a home expecting to buy it that you ever will. It's a false promise - ask existing tenants.
3) If you're an investor; don't believe you are getting a safe, reliable, well maintained investment - ask past investors.
4) If you're a contractor; don't give this company or Lance Puig any credit - he does not pay.
5) Don't believe what you read on the website(s), in blogs or on radio shows. Icons are unauthorized, statements are false & exaggerated.
6) Don't believe mortgages (in your name) will be paid or debts for services will be paid - they won't be.

Here's a few examples of fact:
a) There are numerous lien filings, small claims filings and court filings against this company and Lance Puig. The subjects are wide
ranging (non-payment, fraud, etc). He gets contractors to remodel houses, then doesn't pay them - $1 Mil of examples cab be given
b) Investors have lost their investments due to non-payment of mortgages.
c) The BBB has not been paid and the "Online Accredited Business" icon is misleading at best.
d) The numerous bank links on the website are being used without authorization.
e) The claim that Lance Puig comes from 3 generations of real estate investors is pure embellishment.
f) Lance Puig hires people in the Philippines to write comments and compliments in blogs. They are not real.
g) An leading figurehead of the company and personal advisor to Lance Puig is an federal ex-con:
http://www.bop.gov/iloc2/InmateFinderServlet?Transaction=NameSearch&needingMoreList=false&FirstName=MICHAEL+& Middle=&LastName=BACHER&Race=U&Sex=M&Age=&x=79&y=8. This shows in everything they do, Lance Puig just hasn't been
imprisoned - yet.
h) Lance Puig/York Street Properties is not a member of the TAA or local apartment assoc. That makes all leases signed with the TAA
lease agreements invalid. According to law, the tenant has a right not to honor agreement/no legal protection for investor.
i) A majority of properties remain vacant because they're in bad, un-leasable condition. The company is broke.
j) Houses are purchased at REO prices (50%), then sold to investors for 90% with minimum remodeling to justify that price.
k) Resale, should the investor be faced with that, is impossible at 90% - not to mention the probable liens on the property.
l) The 40% profit (j, above) is used to support Lance Puig's unjustified lifestyle and foreign online labor (paid at $5/hour).

There are many cases of fraudulent and/or misleading business practices utilized by Lance Puig and York Street Properties, et al. Do you homework before doing any sort of business with this man or his companies. Better yet, why take the risk? In today's economy it's difficult enough to make your hard earned dollars and credit work for you - why add dealing with a broke, unscrupulous and unethical partner to the mix? Don't believe what you read - Lance Puig is a professional at making things look one way, when his representations don't paint the real picture. Last reports have he and his family hiding in their house to avoid process servers.

Do your homework - there's too much to list here - don't leave any stone unturned if you need to prove to yourself that investing with Lance Puig/York Street Properties is a bad move. Don't leave any stone unturned before deciding to do business of any sort with this man and his companies - and if you do; get your money in advance - get your own attorney to verify all contracts - be sure you are protected to minimize loss when the "good faith agreements" are inevitably broken.


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  #2  
Old 10-08-2009, 10:12 PM
yspvictims yspvictims is offline
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Location: Dallas, Texas
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Re: York Street Properties - Investment/Mortgage S

I can only agree with those who have been scammed by this guy Lance Puig!! I decided back in 2007 that I would no longer continue to do business with this worthless individual & his (Phantom) Company of York Street Properties. I was on the phone trying to collect the money he owed me almost as often as I was at the properties he had my Company do work on. Let alone the sub-contracters I needed to pay out of pocket as well such as, Certified Electricians & Plumbers for the work I needed them to preform that is only allowed by the State of Texas. I spent countles days making efforts to get paid & getting the run around from then Construction coordinator (Jaime Reyne) whom was also just as much at fault for the deception that was being directed through him by Lance Puig. I was at times owed up to 10-15, 000 dollars at a time & getting the run around on when it was going to be paid. They would constantly change up the way they were going to go about paying me & other Contractors in order to buy them time to get you frustrated enough to just give up or move on. I actually went out to a property in Richardson & Removed the Double Door Entry that we installed & left it wide open in a rain storm for 8 days until I received the payment for doing the other work on the interior of that property. I asked Lance repeatedly for payment & Jaime & whom ever would answer the phone for weeks & sometimes months just to get paid & then without even paying me for what they owed, they would actually ask me to go do another job...haha I mean these people were rediculous in the way they conducted business. When I decided we would no longer do ANY business with this joker Lance Puig & York Street Properties he still owed my Co. over $11, 000.00 dollars & even If he decided to pay we were no going to touch anything that he wanted us to do. I have never recieved payment for what he owes me & my Co. nor do I ever believe I will but, I am glad that finally someone has got together a site for which we can perhaps ban together in efforts to go after this individual & put him out of business like he has done to so many others.



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  #3  
Old 10-08-2009, 10:13 PM
yspvictims yspvictims is offline
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Re: York Street Properties - Investment/Mortgage S

I was completely SCAMMED by York Street Properties. I am a real estate investor who purchased 6 homes from them that were sold to me as being completely rehabbed. They showed pictures of examples of the kinds of rehabs they do and listed out all the details. Long story short, when they wouldn't pay me the rents due me as my property manager, I investigated and went to Dallas. Every one of my homes were in complete disrepair and some of them are going to cost me $20, 000 - $40, 000 to repair. They just painted and put cheap carpet in to make them look nice and covered up all the problems. In one house the kitchen cupboards have fallen off the wall because they screwed them into sheetrock instead of studs!

They also SCAMMED my tenants. One of the things I discovered is that York St. told the tenants that they could buy the houses in 5 months and gave them a signed contract. They did not disclose this to me as the investor! I interviewed all 6 of my tenants and they all told me they had experienced the same nightmare with York Street.

- House wasn't ready on the move-in date.
- Some of them moved from house to house until their house was ready.
-York Street never does what it promises to do.
- When repairs are finally made, they are made by unlicensed, unskilled cheap labor.
- Repairs must be done again becuase they aren't done correctly or cause more problems.
- Takes hours of trying to phone them before they reach a live person.

Some other things they did:
- Before closing, sent me falsified documents with higher rent amounts than the actual amount on the lease.
- Told me the properties were all leased and cash flowing when they weren't.
- Have not paid me security deposits and rents due me since June. They only partially paid.
- Lance Puig is the President and when I had a phone conference with him he assured me he would get all matters resolved and to date has not.
- They gave the tenants a "one year warranty" and then had the tenants pay for the repairs instead of their rent, therefore I didn't get the rent as the owner/investor.

The worst story ever...
I got a call from people trying to move into my house that York St. had told me was leased. These people were in a panic becuase they had paid York St. $1150 in June as a deposit to get the house cleaned, repaired.They went into office York St. on July 15th and paid their pro-rated rent for the rest of the month and went to move in and the house was red-tagged by the city with over 16 items that had to be repaired before they could move in. There was dog POOP all over the living room carpet and the house was in total disrepair and filthy. These poor tenants were panicking becuase they had to get their stuff out of storage and had no place to move to. When they finally got through to York St. on the phone they were told that they no longer managed the property and that I was the new owner. (I had fired them as the property managers in the end of June becuase they refused to pay my rents to me.) What they failed to do was inform me that the copy of the lease they had given to me for that house was no longer valid and that the house was vacant and that they had re-leased the home to these folks that would be moving in on July 15th. AND, they took the money from them on July 15th even though they weren't the property manager anymore.


Don't BUY from York Street as an investor!
Don't RENT from YOrk Street either!

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  #4  
Old 10-08-2009, 10:14 PM
yspvictims yspvictims is offline
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Location: Dallas, Texas
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Re: York Street Properties - Investment/Mortgage S

Directed at YSP I am one of those people you claim YSP helps dreams come true. Dealing with YSP was a total and complete nightmare and if it every comes up on my credit you can rest assured I will find ways to make everyone know how shady YSP truly is. They make everything seem legit up front and willing to work with special situations. I was a single mother trying to get away from an abusive relationship asap and YSP was extremely willing to help me. But they got me in a house, would not fix a thing allowed me to "lease" then made it so that I couldn't even get the utilities in my own name and suddenly tried to raise my rent to some ungodly figure and tried to keep me bound to that lease with no utilities turned on and not to mention I was pregnant with house that the homeless wouldn't want. YSP is a horrible company and I pray that those who set to take advantage of others reeps what they are sowing. Everyone there has a play in doing dirt and that lovely bonus makes you think you are actually doing people a favor and you look the other way.

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  #5  
Old 10-08-2009, 10:31 PM
yspvictims yspvictims is offline
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Re: York Street Properties - Investment/Mortgage S

GO TO THESE PLACES FOR MORE INFORMATION:

http://www.complaintsboard.com/compl...s-c244126.html
Vote if the complaint was useful to you.

http://www.bbb.org/dallas/business-r...as-tx-90006702

http://ripoffreport.com/Search/york-...roperties.aspx

Then do a search on "Lance Puig" or "York Street Properties"

This company and it's sole official employee/CEO, Lance Puig has hurt many. If you have any ideas on how to help the many people who've left comments, please speak-up.

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  #6  
Old 10-18-2009, 07:55 PM
yspvictims yspvictims is offline
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Join Date: Oct 2009
Location: Dallas, Texas
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BBB Revokes York Street Properties Accreditation

After extensive investigations, the Dallas Better Business Bureau decides York Street Properties should no longer be considered a trustworthy business for consumers to consider doing transactions with.
Attached Images
 

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  #7  
Old 10-31-2009, 11:18 AM
yspvictims yspvictims is offline
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Re: York Street Properties - Investment/Mortgage S

On September 9th, 2009 York Street Properties has this to say:

YSP does not recognize the comments posted on this unaudited website (or on other non-accredited “consumer advocacy”) as legitimate and truthful, backed by fact. Only the Better Business Bureau refuses anonymous complaints; therefore, only the BBB is a reliable source of consumer information.
http://www.ripoffreport.com/Real-Est...6eeb.htm#96eeb

On October 8th, 2009 (after BBB announced the results of their exhaustive research), York Street Properties changed their tune and now is trying to discredit BBB.


As many have reported, York Street Properties has a track record of changing its tune after making promises and claims.


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