Have you heard of this asset mangement company?

Hi, has anyone heard of American Management Group, LLC?  Had a call from them asking if I wanted to do REOs for them. They give you 2, drive-by, pre-foreclosure BPOs to do, (no fee), and promise you will get the listings.  I kept asking questions and was told "no fees, commission splits, monthly charges, etc.", but the bottom line is they want $400 up front.  She kept telling me they guaranteed you get the listings or the money is refunded.  I'm not going to go for this but wanted to know if anyone had any experience with them.  They're based in Jacksonville, FL.

Helen Palama

Tropic Shores Realty

Spring Hill, FL

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Replies

  • I WOULD NOT WORK FOR FREE...I would advise against working with this company

    • Thanks, Patti.  I won't.  I've been around a little too long to fall for this.  The best thing to do is either say "not interested" and hang up, or, if you want to have some fun with them, start bombarding them with questions.

  • SCAM!

    • What's messing me up is that they are using local phone numbers when they call.  I usually put a name on callers like that so I can see when the phone rings that I don't want to answer.  Sneaky.

      • Sneaky indeed - this tactic started a couple of years ago when MagicJack became widely available.  You can pick any unused number in the USA or abroad and make it "yours".    

        These scammers found out that people were WAY more likely to pick up the phone for a local number than for an out of area, 800 or a blocked number.

        To me, "faking" the caller ID tells me that this isn't a trustworthy company or individual.  Only people who have no problem lying and cheating would use methods like this - so take it as a RED FLAG of a crook.

        The first sign of a scam in this situation is the fact that they do not accept referral fees or splits - that tells you that you are dealing with an UNlicensed moron.  They only want that upfront dollar that they can get from you before they have to do any work.  They know upfront that there aren't any good leads to be had and that they have almost no chance of sending one your way.  

        They just want to 'hit it and split it' before you wise up.

        Most times you can just call the number back after a day or so, and you'll find that it comes up as no longer in service/disconnected. 

        There are a LOT of these scammers trolling for real estate professionals.  

        • Great comments, Jason.  Thanks.

  • Helen, never pay anything up front, it is a way for them to make money not you.  Plenty of other reputable companies out there.

    • Thanks for the reply.  The first person I talked to I never heard from again and then today, I get another call from a guy who said he was with an asset mgmt. co. who works with Wells Fargo.  After I gave him the 3rd degree for a few minutes, he said he would email me their website and I could check it out.  Never got an email or heard from him again either. 

  • There are so many scams in the REO/BPO industry these days. Just send me $29.95 and I'll tell you how to avoid them. ;)

    • Funny.

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