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T-PS May122016 Broker Inv

Broker Investments, Inc. - Minneapolis, MN

May 12, 2016

Tom received an offer from Broker Investments, Inc., and it was eye popping. He sent the Letter of Intent for our review and information. Here is a summary of what we uncovered:
  • The name Broker Investments, Inc. is listed in the list of registered businesses on the state's Secretary of State business portal.

  • The name of the registrant is James Broker.

  • The filing originally took place on April 11, 2007.

  • The Principal Place of Business is listed as 799 Vicky Lane, Lino Lakes, MN 55014. Here is a photo taken from Zillow.com:
  • The Principal Place of Business listed on the company website: http://brokerinvestmentsinc.com is 800 LaSalle Ave., Minneapolis, MN, which is a premier building in downtown Minneapolis.

  • The building management company representative stated no one by the name of Broker Investments, Inc. pays rent in the building.

  • The offer to buy Tom's weeks was $236,479 for a 3+6 Grand Luxxe contract. Note there was no disctiction between Villa or Master Suite.

  • The commission is 9% "due at the closing for the property sale".

  • Upon acceptance, the owner is to sign the LOI, attach a copy of the contract or maintenance fee bill as proof of ownership and send both by email or FAX - NOT BY CERTIFIED MAIL TO THE ADDRESS LISTED ON THE WEBSITE CONTACT PAGE.
Definitely suspicious! Not only do the instructions in the LOI exclude sending confidential documents by trackable mail service, but also the manager of the building that presumably is the business address does not receive rent from the company. There is no way a Federal Express or Certified parcel could be delivered in person.

Thank you for the alet Tom.
Bottom line: Stay away from offers by cold callers you don't know....and above all Don't Write That Check!!
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