Lance Puig
Lance is a 3rd generation real estate investor. Banks are foreclosing on property in record numbers. Some of the countries largest lenders are out of business. What does this mean for local real estate? Lance Puig will explain why there’s never been a better time to invest.
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I like to know when if Mr Lance Piug will be back on your show. I would like to ask a few question regarding where to buy properties outside USA.
Thank you.
Miguel Lavalle.
Invercionista
Hello…. I would also like to ask the investor Lance Puig how one finds such good prices on his investment properties.
Thank you.
I am very interested to know more about this program. This guy seems to have a brilliant strategy. I really want to start investing in real estate after hearing him.
Lance is a wealth of information regarding real estate investing. I did a search on his company on the web and it seems they are the premier company to invest with.
Please advise if you will be having the real estate investor back on the show, i’d like to ask a few questions, I am currently looking to buy property and wanted an opinion, he seems to be on the ball.
Tnx,
Lilia
Please let me know if and when Mr. Puig will be back on your show, I am looking to invest in real estate and this feels like a good opportunity.
Tnx,
Lilia
I’m sorry can u email me the website address I was driving and I could not write it out. Thank you
I’d love to hear more on this topic. Are you going to have Lance Puig back again?
We are happy to hear that you enjoyed Mr. Puig’s interview. We are in touch with his publicist and if he appears again on The Maxon Show, we will definitely put it on the calendar. Thanks for listening and stay tuned!
Thank you for your comments and we are in touch with Mr. Lance Puig’s office and will put it on The Maxon Show Calendar when he will appear should we be able to schedule him again. Our calendar changes almost daily…so keep checking back and would love to have you listen in to the various range of topics Mr. Maxon covers.
Thank you for listening in and submitting your comments on Mr. Lance Puig’s interview. We are in touch with his office and the calendar for The Maxon Show changes daily…so check in to see upcoming interviews that might be of interest to you. Keep listening. Thanks again.
Thank you for listening in to The Maxon Show as well as your comments. Our calendar often changes daily. You might want to check it out to see if any other upcoming guests might be of interest to you. We would love to have you listen in.
Thank you for your interest and comments. We are in touch with Mr. Puig’s office and if we are able to schedule another date the best way is to check The Maxon Show calendar which often changes daily. You might also find other guests and topics that would appeal to you. Thanks for listening in.
Stay away from Lance Puig and Yorkstreet Properties. They will rip you off!! They don’t deliver on their promises. They will get you to use your credit to buy properties at 100% market value. You then have to deed the home to them in order to participate in their “program”. They get you to give them the house free and clear. They have been charged by the Pennsylvania Securities Commission for selling fake securities. Beware….if it sounds too good to be true, then it probably is. Don’t do it. This man and his company are a fraud.
Hi, I’m Sethina, a producer of the Maxon Show. I reviewed your comment warning about Lance Puig and Yorkstreet Properties. The Maxon Show wishes to maintain the highest degree of integrity. Can you provide proof of what you have said is true? If so, we will investigate.
Here you go:
https://www.secure.psc.state.pa.us/releases/Members/index.cfm?page=ReleaseDetail&id=873&ReleaseType=&ReleaseDate=&ReleaseYear=&Desc=&Rescind=&CFID=169152&CFTOKEN=8268f7499769ff77-FF98AA35-2B3A-77E0-85A7C9EB920B8999&jsessionid=80302240951232759693875
Also, you can do a Google search for “Yorkstreet Properties Pennsylvania Securities” and it will pull up the press release from the PA Securities Commission.
Thank you so much for bringing this to our attention!
Dear: Mark, Susan and Sethina.
I’m really sorry about the lateness of my answer. My publicist was out of town and I was not aware of this incident until this morning. Please feel free to call me if you have any questions or if you wish to discuss further.
My family has been in real estate investing for 70 years. If we’ve ever been fraudulent there would be formal Complaints with the Better Business Bureau. I’m rather proud of the fact that we have a perfect record with the Better Business Bureau.
In response to some of the points that “Marcus” raised:
1. We don’t need to “rip people off” as “Marcus” said. We do rather well by simply following the same advice I gave to your listeners. We win the game in the first move. We buy properties in distress and we buy a lot of them so we get the best price. We later on remodel and sell them for a profit.
1. We don’t sell properties at 100% value we sale them at 90% value.
2. Yes, we use the client’s credit to get them the loan from the bank that is just the way you purchase Real Estate, when you don’t use cash.
3. When our clients purchase a home with the purpose of renting it and creating cash flow, they can’t “Deed” the house to Yorkstreet Properties or anyone else because the bank owns the house and the house is not free and clear. This is simply not possible.
4. There are no investments that are 100% risk free. As I said on my interview on your show when you buy property to rent the question is not “if I will have vacancy’s (which is the biggest problem with rental properties). The question is “when will I have vacancy and for how long”. This is why we sale portfolios of 4 to 10 houses that produce a positive cash flow of $200 dollars each so in case you do have vacancy’s you can use that money to pay for the property hence you won’t use your own money.
• 6. In 2007 we did have an INQUIRY by the SEC, but it was not for “selling fake securities”. It was for placing the words “guarantee” in the advertising on our website. The Ad Company we were using at the time was unaware that the SEC had issues with advertising in the “public domain” (this particular advertising was online in Google pay-per-click). The ads ran for several weeks when we received a cease and desist letter from the SEC. Our attorney got them everything they asked for and they determined that we were NOT trying to “trick” our customers…..but had merely misused some advertising verbiage.
The SEC made NO FORMAL CASE against York Street. If they had found something criminally fraudulent; they certainly would have, this would also be posted on their site.
I’m available to answer any questions you may have. Please let me know if this answers your questions. I’m really sorry about this but at the same time I’m glad because I have nothing to hide and I’m glad this is a venue where people are able to post their comments and exercise their freedom of speech.
Sincerely,
Lance Puig.
CEO of Yorkstreet Properties.
Nice try, Mr. Puig.
If you actually read the cease and desist order from the state of PA, it clearly states that Mr. Puig and his company were selling “debentures” as their security to investors. There’s nothing in the cease and desist order about improper use of ad language. Yorkstreet was attempting to suck money out of unsuspecting investors using “debentures” – which are nothing more than glorified IOU’s. He’s also misleading about his company’s BBB “perfect record”. If you go to the BBB website and search Yorkstreet Properties, you’ll see two complaints within the past year for contract issues and repair issues. Buyer beware with this company. Please inform your listeners to do their homework and research before investing their hard earned money and credit.
Just read the reply that Mr. Puig wrote above to the station and it’s easy to see how strange all of this is. I inquired with this company about renting one of their houses from http://www.yorkstreethomes.com/ I was told I could rent for 6 months and then buy the house with no money down if I paid on time. When I went to see the house it was not at all how it was described on their website, moldy smell, dirty floors, kitchen cabinets full of bugs, old dirty appliances, and the strange thing is they sent me to view the property ALONE, with no rental agent, you enter the home with a code lock, and then I called their 800 number the call sounded really weird I asked the woman on the phone where she was and she said she in the philipines. I asked her how she could be all the way over there and she said the company is based overseas. This is a house located at 1402 Longview, Mesquite, TX Sounds very fishy STAY AWAY!!
I live in Dallas and decided to do a little investigation on York Street before investing and money and my excellent credit with them. Disappointingly, these are some things I found:
The 2 cases represented on the BBB website “are just the tip of the iceberg” according to BBB representatives. They are also looking into illegal use of the BBB logo as well as others.
1) I polled house occupants. Not a single one was allowed to purchase a house after 6 months of paying timely. Requests made to York Street were ignored. A recurring theme.
2) There have been many liens put on the houses for non-payment of remodeling costs. This hurts the construction contractors and the investors.
3) I went to several local small claims courts in the Dallas area. There are at least 20 cases where York Street has not paid people for work – and the numbers are very big. York Street has lost every case.
4) In the Dallas Metroplex records are kept on arbitration agreements that are not met. York Street has chronic troubles with paying, or never paying arbitration settlements.
5) County Sheriff’s advise they have several summons they are trying to serve on Mr. Puig – however, his door is not being answered at his personal home on Bushire (though they know somebody is inside).
6) Investors have paid good money and/or used their good credit to purchase homes that will yield a return on investment over long periods of time. However, it appears that the houses are not being maintained (according to occupants). As a potential investor, I would want properties to be maintained, as York Street agrees to do.
7) York Street has a large number of properties that are and have been vacant for long periods of time. I looked at a few and they look to be in horrible condition with many vandalized.
I went to great lengths to verify information through personal conversations, documents and property inspections. I agree that there are some great opportunities for an investor these days – however, my conclusion is that Mr. Lance Puig and York Street Properties are a very unscrupulous and a risky bet for the serious, honest investor. I know I will stay away from them and recommend that others do to.
By the way, it’s interesting to note that many of the comments made in this forum were actually posted by York Street employees. I called there a number of times and recognize the names. Why would a legitimate company with a good radio following use these tactics?
Susan at Maxon – you should do some investigating yourself – the integrity of your show could be at risk.
WOW! – interesting blog – perhaps we have “our own little Dallas Ponzi Scam” going on here?
Take a look at this posting I found:
http://www.complaintsboard.com/complaints/lance-puig-york-street-properties-c244126.html
Looks like this guy is trouble and maybe a gold mine for our District Attorney!
There are a lot of inconsistencies with what Mr. Puig has said. Here are a few of them.
1) BBB – York Street Properties BBB accreditation was revoked due to the unusually high volume of complaints. LINK: http://www.bbb.org/dallas/business-reviews/real-estate-investors/york-street-properties-in-dallas-tx-90006702
2) Please also note that the positive inquiries above were posted by Philippine employees of Mr. Puig – I did a little research (and they like to talk). One of the employees and close adviser to Mr. Puig is an ex Federal convict (Mike Bacher). LINK: http://www.bop.gov/iloc2/InmateFinderServlet?Transaction=NameSearch&needingMoreList=false&FirstName=MICHAEL+& Middle=&LastName=BACHER&Race=U&Sex=M&Age=&x=79&y=8
3) The SEC claim was withdrawn after guarantee, guaranteed, etc was removed from advertising verbiage. According to the SEC, that is correct.
4) According to Dallas county, there have been 24 liens placed against houses KNOWN to be owned by York Street Properties. I didn’t have time to check with all the authorities who govern liens in the Dallas Metroplex.
5) Buy at 50% – Sell at 90%, then put as little as possible into remodeling, property management and a sub-standard foreign labor pool – what do you expect?…. smelly, buggy houses in disrepair would be a good bet! The question is: if the money isn’t going into the houses, labor expense, the investors, payments to companies doing the work, payment for subscriptions, etc, then where is the money going?
Marcus and Archer – as good as the opportunity sounds, I believe I will stay away from it, just like you. Thanks for all of the input and research !
Hey Marcus – did you see this?
http://www.complaintsboard.com/complaints/lance-puig-york-street-properties-c244126.html
Susan, why aren’t you publishing the comments posted by readers?
Here’s another testament to the character of Lance Puig:
http://www.complaintsboard.com/complaints/york-street-homeslance-puig-c246943.html
I have been working for YSP for almost 2 years now. Before YSP I been dealing with a lot of outsource company and most of them don’t pay and if ever they do the salary is really low. We are getting a lot of bonuses here and YSP is very generous to us. So I was shocked when someone is saying that YSP is not paying – that is so untrue. There might be a delay for other vendors cause there is a process they need to do before releasing money but they still get their pay.
Without YSP I will not be able to support my Family. We are 8 kids in the family and imagine how YSP can help me to survive our everyday expenses. We help people we make their dreams happen it cannot happen overnight but still we make it happen.
I am not saying all these because I am working for YSP, I am saying this because this is really what is happening. Almost every day I talk to Lance, I can see how he wants to make things better for other people. I know his intentions are all good… he also have a family don’t forget that. He cannot please everyone here but he doesn’t deserve all this bad comments. If you have problems with YSP it’s much better to talk to us and solve the issue than spreading false accusation.
BM