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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Comments

[24/08/2009] Cindy Bidstrup: I live in a house owned by York Street Properties. The problem with that is they promised I would own it by now.

I've paid on time, put a lot of my own money into the house for repairs (though I really think they should have done most of them).

On numerous occasions I've asked them to send me documents to finalize the sale of the house but the women in the office (or should I say Philippines) don't know anything about this - they keep saying somebody will call me. Well I keep paying on time but they keep refusing to honor their agreement.

What can I do? I'm becoming afraid of these people if they are as crooked as some people say. I would move but I'm just hoping they will honor their agreement so my family can stay in this house - maybe that's a silly thing to wish for? If this company doesn't pay the bank, could I be evicted?

In October 2008 I received a call from David Archer from Choices Acquisitions informing me about a development in Cheshire that they’d managed to secure big discounts on. I was planning on making a buy to let investment but had planned to make it nearer to home. After he went through all the figures, what Barratts were selling them for, what Choices were offering them for, mortgage payments and rental value etc. I agreed to go ahead and purchase a 2 bed flat on the Sunningdale Estate. Prior to this I had had a numerous amount of questions for David, all of which had been answered extremely efficiently.

The property had to be exchanged within 28 days and completed by end of November, a very tight deadline but doable. I went ahead and paid my fees, £500 to Barratt Homes as a holding fee and £2,080.27 to Choices as a finder’s fee. I was then informed that I would need to use their solicitors. I did not agree to this as they were charging far more than if I used my own and I did not see why I should pay more when I can get the same job done for less. David said I would need to use their solicitors but that he would sort the price issue out. I asked for confirmation of the new fees in writing before I went ahead. This is when the problems started.

Over the next couple of weeks I had to make numerous phone calls and emails to David chasing for confirmation in writing and eventually informed him that if I did not get a response I would be pulling out. I then went on to ask for a full refund or for them to find another property where the figures stacked up and to transfer my monies across as the timing to complete this deal was now becoming too tight. After almost 2 weeks David came back to me saying that I could use my own solicitor but would need to ensure that the deadlines were met. I was left with just over 2 weeks to exchange which I felt was too short and I pulled out requesting a full refund. This was denied.

After writing several complaint emails and letters to the company with no joy I wrote to the Chairman. The response I received was as follows:

FURTHER TO YOUR LETTER OF 16TH APRIL 2009, WE ARE SORRY TO HEAR THAT YOU HAVE BEEN DISAPPOINTED WITH ANY SERVICE RECEIVED.
THIS MATTER HAS BEEN PASSED TO OUR DIRECTOR IN ACCORDANCE WITH OUR COMPLAINTS PROCEDURE WHO WILL HAVE TO MAKE SOME INVESTIGATIONS INTO THIS MATTER. A FULL RESPONSE WILL BE MADE TO YOU WITHIN 21 DAYS, UNLESS FURTHER ENQUIRIES ARE NEEDED, IN WHICH CASE YOU WILL BE ADVISED OF PROGRESS AND A FINAL DATE FOR A RESPONSE.

YOURS SINCERELY

PROPERTY MANAGEMENT
CHOICES

I have received no response since. The letter had no contact name of who was dealing with the complaint now or indeed even who wrote the letter. I did write asking for the name of the person dealing with it, as well as a copy of the complaints procedure but due to the fact I had no contact name to write to I wouldn’t like to guess where the letter ended up.

On their website www.choices.co.uk they make various false statements, details as follows:
I BECAME AN ESTATE AGENT BECAUSE OF THE TERRIBLE SERVICE I EXPERIENCED WHEN DEALING WITH ESTATE AGENTS AS A CUSTOMER AND THE FEELING THAT THERE HAD TO BE A BETTER WAY OF DOING THE JOB. – I really feel there can’t be a worse company to be dealing with as regards to service received. All very good until they have someone’s money or things are going well but the minute there is an issue, David Archer became an ostrich and just stuck his head in the ground!

AT CHOICES WE ACCEPT THAT WHEN IT COMES TO BUYING, SELLING, OR RENTING PROPERTY THINGS CAN AND DO GO WRONG, NO MATTER HOW HARD WE TRY, THERE ARE NO MAGIC WANDS, AND THE BEST WE CAN DO IS WORK WITH YOU TO ACHIEVE YOUR OBJECTIVES, TO UNDER-PROMISE AND OVER-DELIVER. I was over promised and under delivered. I was promised by David Archer that my solicitor’s fees with their chosen solicitor would be reduced in line with what I could get them for with my own solicitor but yet it took David almost 2 weeks to get back to me even with me sending him many emails and many calls to try to get a response and confirmation in writing to finally agree that I could use my own solicitor.

AT CHOICES WE DO NOT BELIEVE IN TELLING YOU WHAT YOU WANT TO HEAR, ABOUT THE VALUE OF YOUR HOME, WHAT WE DO, OR ANYTHING ELSE. BUT WE DO BELIEVE IN TELLING YOU WHAT YOU NEED TO KNOW. Again, I was told by David Archer that my solicitor’s fees would be reduced as I had told him I was not happy to be paying higher fees for the same outcome. He told me it would not be a problem and that I would have to use their chosen solicitors but that the fees would not be a problem. David was very quick to tell me this and I felt it wouldn’t be a problem and believed him, especially after reading the information on the website about believing in trust, not over promising etc etc. I know very differently now.

OUR SALES CONTRACTS ALL COME WITH A TOTAL FREEDOM GUARANTEE WHICH MEANS IF WE ARE TO KEEP OUR VENDORS WE HAVE TO PERFORM, NOT JUST PROMISE TO PERFORM.

THE TOTAL FREEDOM GUARANTEE IS FAR MORE THAN REASSURANCE FOR OUR VENDORS, IT IS ALSO A STRONG MESSAGE TO ALL OUR STAFF THAT SAYS AT CHOICES IT IS NOT GOOD ENOUGH TO TALK THE TALK, YOU HAVE TO WALK THE WALK AS WELL. Another false statement! David Archer was very quick to talk the talk but has not mastered the walk the walk part!

OUR VISION AT CHOICES WE HAVE A VISION OF A NEW TYPE OF ESTATE AGENCY, AN ESTATE AGENCY WITH A PHILOSOPHY BASED ON PARTNERSHIP, REALISM AND TRUST WHERE BUYERS, SELLERS, LANDLORDS AND TENANTS CAN GET ALL THE SERVICES THEY NEED UNDER ONE ROOF. A ONE STOP APPROACH, BRINGING WITH IT THE BENEFITS OF SHORTER LINES OF COMMUNICATION, OWNERSHIP OF RESPONSIBILITY IN ONE PLACE AND OF COURSE COST EFFECTIVENESS. It’s all very well to have shorter lines of communication if the person the public are dealing with actually communicates. David was quick to communicate before taking my money and almost straight after having my money seemed to lose the ability to communicate. Two things he was very good at were saying what he thought I would want to hear to start with and then he was very good at avoiding me afterwards!

I feel very strongly that the website does not portray the true facts about the company and would ask is there anything I can do to firstly get my money back from them and secondly to warn other people about dealing with such a company?

I look forward to hearing from you. If you require any further information then please do not hesitate to let me know.

Many thanks in advance.

Myself and my husband bought in to a land company called Fortunaland in 2004 we bought so many sq m of land and obtained deeds etc but have heard that this company has gone of with the money in 2008 and a lot of other peoples money also. We have made contact with a lawyer but he is looking for a lot of money and no guarantees he advised us to make a denuncia with the national police but I do not know how to do this.

Can anyone help here please.

Thank you