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T-PS July152014 Master Asset Allocation

Master Asset Allocation International

July 15, 2014

We received these comments from an Aimfair member this morning:
We have been offered interesting rental/selling services by MASTER ASSET ALLOCATION INTL. They have a website. But where did they get our names and how did they know we are Grand Luxxe members? We are to accept within 48 hours. And they want proof of our ownership. Sounds too good… I could forward what they sent as a Rental Offer.

Any idea? Thanks.

Later on today....we received another note from a second member of Aimfair. His comments are as follows:
Hi,

A few minutes ago, received a call from senor Cardona. Said that members expressing desire to rent or sale at a sales presentation are automatically put on a multi-list data base that licensed brokers like himself can access. Said also he is a member of the American-Canadian Resort Development Association (?). We did in fact attend a presentation and mention we are interested in renting the weeks we do not use and intend to sell one day (not necessarily soon). Hope this will prove useful.

And he also contacted ARDA:
Thank you for contacting ARDA. ARDA is the trade association that represents the vacation ownership industry and its consumers. We are not able to provide information regarding the “legitimacy” of an organization or counsel consumers on their specific practices. ARDA member companies pay dues to our organization and are then given access to resources within the industry that have been provided through our association. How they utilize those resources may differ and an ARDA membership should not be the only determining factor to consider when deciding to conduct business.

The company that you have mentioned, MASTER ASSET ALLOCATION INTL. is not a member company of ARDA.

While we cannot provide more information on the specific organization that you have dealt with, we do deliver consumer resources to help inform and educate users through our website, www.ardaroc.org. We provide a list of member companies on our main webpage as well which can be accessed by visiting: www.arda.org/membership/memberdirectories/overview.aspx.

I hope you find this information helpful as you work to research this organization and determine your future dealings with them.

Additionally, yes, there is a Canadian Resort Development Association (CRDA). I have provided a link to their website here: www.crda.com

Again, thank you for contacting ARDA. If you found this information to be helpful and would like to support the efforts of ARDA ROC you can do so here.

Sincerely,

Pam Cordell, CAM, RRP
Manager, Member Services
American Resort Development Association (ARDA)
1201 15th Street NW, Suite 400
Washington, DC 20005
202-371-6700 main
202-289-8544 fax
Then, on August 7, 2014, we received these comments:
We were a few phone calls in with Brandon Cordova at MAAI and actually signed their proposal to move forward when we started to get a not so legit feeling. I contacted the BBB as they are not listed with them and they suggested I speak with the TN Real Estate Commission and they did not have MAAI listed as a company and Brandon Cordova's license status is "Broker Release" (see attached) meaning his license is currently not listed with MAAI.

I actually called the flower shop that is in the Google Map street view photo where there address supposedly is (building looks abandoned in the photo); they were not able to say whether or not they were in that building as there a apparently a bunch of smaller businesses in there.
The members also sent along a Tennissee Real Estate license document sent by Sr. Cordova. The document was not accurate nor was the information corroborated by the Tennissee Real Estate Commission.

Today, August 12, 2014, we recieved an email from another member who was contacted by this group. He sent us the following:
Hi Bob...

Just received an Authorized Resale Offer from Master Asset Allocation INTL..info at masterassetallocation.com to be signed and faxed or emailed back... Looks like we are the third GL owners contacted by this company.

Authorized resale offer received from Master Asset Allocation Intl. signed by Brandon Cardona. Terms...subject to formal contract; on closing date, purchasers will purchase from seller certain assets of the sellers as identified in the "Guaranteed Resale Agreement”, which is forthcoming once the chosen closing co secures the purchase offer amount from the purchaser; contractually the purchaser is obligated and will assume the liability of reimbursing the research and transfer fee to the sellers at time of closing; purchasers assume all liabilities and pay to seller purchase price...paid thru a closing agent chosen by purchaser and delivered to seller of the closing date.Closing co must be licensed to do business in USA & whichever country the property is located.

If signed, returned via fax or email...co will submit a formal purchase agreement. All contingent upon seller providing proof of ownership.....etc.

Offer sheet had to be signed and returned by fax or email in 48 hours.

No action taken on our part. Thanks for the info posted under the scam section of aimfair info.... it saved us getting too excited about this "Authorized Resale Offer."

Hope to get back to Nuevo Vallarta some time...time will tell.

Thanks again.....
Another member's contribution. Thank you. Very helpful for everyone.

"Interesting rental/selling services" are usually suspect when:
  1. The offers are made by cold callers.
  2. You don't know the calling party.
  3. You don't know where/how the caller obtained confidential information about your Grand Luxxe or other resort ownership.
  4. The caller places a time limit on the offer to perform services for you (e.g. 48 hours to sign or the offer goes away.).
  5. The caller asks for more confidential information from you, such as "proof of ownership".
  6. The caller claims to be a broker, but he provides no proof he is licensed.
Yes, we performed our usual search to determine if the telephone numbers listed on their beautiful website are actually located at the address given as the "office".

Here is what we found:
  • The home base address is allegedly 215 6th Ave. N., Nashville, TN.
  • The "office" telephone numbers are located the junction of Bell Road and Old Hickory Road, which is quite a distance from the alleged location of the downtown office.
  • The Fax lines appear to be at an Archer Street and Hoyt Street address. No, these are not in Nashville. They are in Chattanooga, TN.

    Why would the office and fax lines be located in places other than the office?
name
Master Asset Allocation Intl Office and Fax Lines.jpg

  • The domain was created on May 17, 2014 and expires a year later. Doesn't this seem unusual when the website claims thirteen years of experience?
name
Whois Data.jpg

Our fellow member contacted Grupo Vidanta, and the response was the whole thing smells of fraud.
'Nuff said! Be very careful.... there are many slick sales guys who want your money!
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