REI Holdings, LLC

General Background REI Holdings, LLC (“REI”) purchases and resells tax lien certificatesThe cost of the tax lien certificate is determined by the amount of unpaid property taxes during the year of the certificate and the interest that has accrued to that pointThere are three primary ways to benefit from the ownership of a tax lien certificate: I The owner of the property pays the outstanding property taxes and “redeems” the tax lien certificateThe payoff for each certificate is sent to the certificate’s owner.ii Someone purchases the property at auction after the foreclosure process is initiated, the minimum bid being the about due to the certificate owner that initiated such processiii The owner of the certificate forecloses the tax lien and takes title to the property with an opportunity then sell the propertyTo initiate foreclosure, the applicant is generally required to pay off all other valid tax liens (if any) at the time of applicationAs REI purchases portfolios of hundreds of tax liens at a time, REI makes no representations to its customers about the value of the property subject to the tax lienAny information REI has regarding property value is from third parties, such as the county assessor, and provides such information as a courtesy onlyAlthough in some states, such as Florida, the rate of redemption is very high, REI further makes no guarantees that a property owner will, in fact, payoff and redeem the tax lienStatement of Facts With respect to the complaint of MsIlona [redacted] , below are the following facts: Beginning January 17, 2017, Ms [redacted] , through her entity IMK Properties, Inc., began purchasing portfolios of tax liens from REIThe first portfolio consisted of liens that she purchased for $7, The second portfolio (January 26, 2017) consisted of liens that she purchased for $5, The third portfolio (February 24, 2017) consisted of liens that she purchased for $3, After she purchased the third portfolio, REI suggested that she should wait before purchasing anymore liensMs [redacted] became upset and demanded that REI sell her more liens Ms [redacted] then purchased a fourth portfolio on May 9, that consisted of liens that she purchased for $13, With respect to each of the portfolios, Ms [redacted] acknowledged and agreed as part of the purchase contract that: a The tax liens were sold “as is, where is with all faults and without representation or warranty of any kind or nature, express, implied, or limited, and without any recourse against [REI]”, as to the condition of the tax lien or the collectability of revenue thereon; b She conducted his “own due diligence, evaluations, analyses and assessments prior to entering into [the agreement]; c She is solely responsible for determining the advisability and suitability of the transaction; d She assumed all risks of loss; e She has the financial ability to withstand any losses; f REI is not responsible for any losses Ms [redacted] conducted extensive due diligence prior to purchasing her tax liens and was very familiar with the liens, the properties to which they were attached, the tax deed application (i.eforeclosure) process, the possibility of acquiring the property if the tax liens were not redeemed All liens purchased by Ms [redacted] were properly transferred into her name or the name of her entity To wit, the outcome of Ms [redacted] ’ purchases is as follows: a Ms [redacted] has taken title on thirteen (13) properties for which she voluntarily filed a tax deed applicationThe aggregate assessed (not market) value on ten of these properties for which information could be obtained is approximately $45,Ms [redacted] has put some of these properties on the MLS, listing them for up to three times (3x) their assessed valueb Nineteen (19) liens were redeemed by the property owner or by virtue of being acquired at a tax deed auctionOf these liens, information publicly available shows that six (6) redeemed in the aggregate amount of $10,c Ms [redacted] voluntarily filed tax deed application for fifteen (15) liens that are now in the foreclosure processThey have not yet been redeemed or awarded to Ms [redacted] d Five (5) liens are not set to expire until or later and can still be redeemed before or after a foreclosure action is filede Four (4) liens will expire in or around May or June if they an application for foreclosure is timely filedREI has performed on the contractsMs [redacted] has received what she paid forShe may have desired all her liens to redeem, but obtaining property is one of the potential outcomes that is explained to REI customers and should be expected by the customerIt is completely out of REI’s control whether or not the properties actually redeemMs [redacted] still has opportunity have the remaining liens redeem or to obtain the property they are attached to, and to sell the property that she has acquired through the foreclosure processREI is willing to buyback Ms [redacted] liens, identified below, that will expire in or later, for which she has not filed a foreclosure application, in order to resolve this disputeThe liens would need to be transferred back to REI’s name prior to payment of any monies

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is satisfactory to me Part of the Buy-Back Agreement that [redacted] and I agreed to is that we will rescind our Revdex.com complaint Therefore, please rescind the complaint for REI's good-faith agreement to remedy our problem Sincerely, [redacted]

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is satisfactory to me Sincerely, [redacted]

REI Holdings, LLC’s Response to [redacted] & [redacted] Revdex.com Complaints [redacted] , [redacted] , [redacted] General BackgroundREI Holdings, LLC (“REI”) purchases and resells tax lien certificatesThe cost of the tax lien certificate is determined by the amount of unpaid property taxes during the year of the certificate and the interest that has accrued to that pointThere are two primary ways to make money from the ownership of a tax lien certificate:i The owner of the property pays the outstanding property taxes and “redeems” the tax lien certificateThe payoff for each certificate is sent to the certificate’s ownerii The owner of the certificate forecloses the tax lien and takes title to the property with an opportunity then sell the property.As REI purchases portfolios of hundreds of tax liens at a time, REI makes no representations to its customers about the value of the property subject to the tax lienAny information REI has regarding property value is from third parties, such as the county assessor, and provides such information as a courtesy onlyREI further makes no guarantees that a property owner will, in fact, payoff and redeem the tax lienTo the contrary, REI’s contract warns that the investment could be lost completely and the purchaser represents that they have the ability to absorb the loss in income.At times, actions are taken against property after the tax lien is sold to a customer and REI has no knowledge or control of such actionsWhile this is understandably frustrating for the purchaser of a tax lien, it is a risk that the customer assumes when making his or her purchaseTimelineWith respect to the complaints of Mses [redacted] , below are the following facts: On or about March 13, 2017, [redacted] entered into a contract for the purchase of five tax liens in Florida for the amount of $8,(exclusive of fees) On or about March 21, 2017, [redacted] entered into a contract for the purchase of eleven tax liens in Florida for the amount of $4948.40, (exclusive of fees) On or about June 27, 2017, [redacted] , through her IRA, purchased one Ohio tax lien for the amount of $9,(exclusive of fees) In November 2017, [redacted] and [redacted] attended a tax lien tour in Florida, at which they met with Edward S [redacted] , a principal at REI Mses [redacted] expressed no frustration with REI or her lien purchase to MrS [redacted] Rather, they said they were pleased with their tax liens REI has no record of Mses [redacted] calling into REI’s office since May of REI’s standard procedure to resolve disputes is for customers to complete a Resolution FormHad Mses [redacted] called into our office, this procedure would have been explained After the Revdex.com Complaints were filed, Mses [redacted] called REI and spoke with representatives that directed them to the Resolution Process Edward S [redacted] has also contacted Mses [redacted] in an effort to resolve this matterProposed ActionREI regrets there has been miscommunication with MsesLaurienti regarding their tax liensREI has hundreds of customers and the vast majority are pleased with the level of service REI provides and REI will make effort to rectify this situation.To that end and in an effort to resolve all Revdex.com complaints filed by Mses [redacted] , REI offers to refund the total sum of $10,to Mses [redacted] as follows:i Refund the tax lien on the Ohio property whose structure was found to be demolished, including fees, in the amount of $9,489.37, upon the tax lien being transferred back to REI or its nominee; and ii Refunding the following Florida Tax Liens in Hardee County in the aggregate amount of $966.12, upon such liens being transferred back to REI: a CertNo- $171.88;b CertNo- $157.79;c CertNo- $151.85;d CertNo- $120.82;e CertNo- $122.53;f CertNo- $122.53; andg Associated Fees - $118.72Sincerely, Eddie S [redacted] , Manager

We understood that the client wished to have replacements rather than a refund We are issuing a sending a check this week to resolve the case.Thanks for your patience

See attached cleared check to Evans Should be resolved

REI Holdings purchased an interest in the property after the tax lien foreclosure was completedAfter contacting Davenport Financial, LLC, they reached out to MsCollins and it appears a resolution has been reached to allow her to continue with the "Cash for Keys" program in lieu of eviction
proceedingsPlease find the attached letter from Davenport Financial discussing the same. Edward S***, Manager

General Background REI Holdings, LLC (“REI”) purchases and resells tax lien certificatesThe cost of the tax lien certificate is determined by the amount of unpaid property taxes during the year of the certificate and the interest that has accrued to that pointThere are three primary ways to
benefit from the ownership of a tax lien certificate: I. The owner of the property pays the outstanding property taxes and “redeems” the tax lien certificateThe payoff for each certificate is sent to the certificate’s owner.ii. Someone purchases the property at auction after the foreclosure process is initiated, the minimum bid being the about due to the certificate owner that initiated such processiii. The owner of the certificate forecloses the tax lien and takes title to the property with an opportunity then sell the propertyTo initiate foreclosure, the applicant is generally required to pay off all other valid tax liens (if any) at the time of applicationAs REI purchases portfolios of hundreds of tax liens at a time, REI makes no representations to its customers about the value of the property subject to the tax lienAny information REI has regarding property value is from third parties, such as the county assessor, and provides such information as a courtesy onlyAlthough in some states, such as Florida, the rate of redemption is very high, REI further makes no guarantees that a property owner will, in fact, payoff and redeem the tax lienStatement of Facts With respect to the complaint of MsIlona ***, below are the following facts: 1. Beginning January 17, 2017, Ms***, through her entity IMK Properties, Inc., began purchasing portfolios of tax liens from REIThe first portfolio consisted of liens that she purchased for $7,2. The second portfolio (January 26, 2017) consisted of liens that she purchased for $5,3. The third portfolio (February 24, 2017) consisted of liens that she purchased for $3,4. After she purchased the third portfolio, REI suggested that she should wait before purchasing anymore liensMs*** became upset and demanded that REI sell her more liens5. Ms*** then purchased a fourth portfolio on May 9, that consisted of liens that she purchased for $13,6. With respect to each of the portfolios, Ms*** acknowledged and agreed as part of the purchase contract that: a. The tax liens were sold “as is, where is with all faults and without representation or warranty of any kind or nature, express, implied, or limited, and without any recourse against [REI]”, as to the condition of the tax lien or the collectability of revenue thereon; b. She conducted his “own due diligence, evaluations, analyses and assessments prior to entering into [the agreement]; c. She is solely responsible for determining the advisability and suitability of the transaction; d. She assumed all risks of loss; e. She has the financial ability to withstand any losses; f. REI is not responsible for any losses7. Ms*** conducted extensive due diligence prior to purchasing her tax liens and was very familiar with the liens, the properties to which they were attached, the tax deed application (i.eforeclosure) process, the possibility of acquiring the property if the tax liens were not redeemed8. All liens purchased by Ms*** were properly transferred into her name or the name of her entity9. To wit, the outcome of Ms***’ purchases is as follows: a. Ms*** has taken title on thirteen (13) properties for which she voluntarily filed a tax deed applicationThe aggregate assessed (not market) value on ten of these properties for which information could be obtained is approximately $45,Ms*** has put some of these properties on the MLS, listing them for up to three times (3x) their assessed valueb. Nineteen (19) liens were redeemed by the property owner or by virtue of being acquired at a tax deed auctionOf these liens, information publicly available shows that six (6) redeemed in the aggregate amount of $10,c. Ms*** voluntarily filed tax deed application for fifteen (15) liens that are now in the foreclosure processThey have not yet been redeemed or awarded to Ms***d. Five (5) liens are not set to expire until or later and can still be redeemed before or after a foreclosure action is filede. Four (4) liens will expire in or around May or June if they an application for foreclosure is timely filedREI has performed on the contractsMs*** has received what she paid forShe may have desired all her liens to redeem, but obtaining property is one of the potential outcomes that is explained to REI customers and should be expected by the customerIt is completely out of REI’s control whether or not the properties actually redeemMs*** still has opportunity have the remaining liens redeem or to obtain the property they are attached to, and to sell the property that she has acquired through the foreclosure processREI is willing to buyback Ms*** liens, identified below, that will expire in or later, for which she has not filed a foreclosure application, in order to resolve this disputeThe liens would need to be transferred back to REI’s name prior to payment of any monies

REI Holdings, LLC ("REI") continues to work with the customers to obtain a satisfactory resolutionTo date, REI has refunded more than the amount in its initial response and is evaluating additional remedies it can offer to the customers, including, but not limited to ensuring the customers receive the additional programs they state they were promisedREI is working in good faith to reach a mutually acceptable resultTo that end, REI recently determined that, subject to an executed buy-back agreement, it will repurchase the three (3) tax liens that are in various stages of foreclosure for the purchase price paid, as well as the tax deed application roamounts paidREI is in the process of verifying the data of the liens amounts and will reach out to the customer to confirm the detailsPayment will be made following execution of the buyback agreement

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
Sincerely,
[redacted]

REI Holdings, LLC’s Response to [redacted] Revdex.com Complaint General Background REI Holdings, LLC (“REI”) purchases and resells tax lien certificates. The cost of the tax lien certificate is determined by the amount of unpaid property taxes during the year of the certificate and the interest that...

has accrued to that point. There are two primary ways to make money from the ownership of a tax lien certificate: I.                     The owner of the property pays the outstanding property taxes and “redeems” the tax lien certificate. The payoff for each certificate is sent to the certificate’s owner. ii.                   The owner of the certificate forecloses the tax lien and takes title to the property with an opportunity then sell the property.  As REI purchases portfolios of hundreds of tax liens at a time, REI makes no representations to its customers about the value of the property subject to the tax lien. Any information REI has regarding property value is from third parties, such as the county assessor, and provides such information as a courtesy only. REI further makes no guarantees that a property owner will, in fact, payoff and redeem the tax lien. Statement of Facts With respect to the complaint of Mr. [redacted], below are the following facts: 1.                   On or about July 15, 2016, Mr. [redacted] approached REI Holdings about the possibility of purchasing tax lien certificates. 2.                   On or about July 18, 2016, Mr. [redacted] purchased fifteen (15) tax lien certificates for a total of $101,361.91, including fees. The purchase was made pursuant to a written agreement between the parties. In the agreement, Mr. [redacted] acknowledged that: a.       The tax liens were sold “as is, where is with all faults and without representation or warranty of any kind or nature, express, implied, or limited, and without any recourse against [REI]”, as to the condition of the tax lien or the collectability of revenue thereon; b.      He conducted his “own due diligence, evaluations, analyses and assessments prior to entering into [the agreement]; c.       He is solely responsible for determining the advisability and suitability of the transaction; d.      He assumed all risks of loss; e.      He has the financial ability to withstand any losses; f.        REI is not responsible for any losses. 3.                   On or about July 19, 2016, the parties signed a new agreement, eliminating certain tax liens from the purchase, making the purchase price (including fees) $81,088.98. The new agreement contains the same acknowledgments as the July 18, 2016 agreement. 4.                   On or about July 21, 2016, the parties signed a third agreement whereby the title of the purchaser of the tax liens was corrected. The third agreement contains the same acknowledgments as the July 18, 2016 and July 19, 2016 agreements 5.                   Mr. [redacted] lives within approximately twenty-five (25) miles of three (3) of the properties subject to the tax liens in Cuyahoga County, Ohio. These three (3) tax liens comprise approximately seventy percent (70%) of the purchase price of the tax lien certificates Mr. [redacted] purchased.. 6.                   Mr. [redacted] has since told REI that he did not inspect the properties prior to purchase because he was “too busy to drive over to see them.” 7.                   Mr. [redacted] recently informed REI he does not want to move forward with the foreclosure of the Ohio tax liens, as it appears they will not be redeemed. He now desires a refund with respect to ALL of his tax lien certificates purchased. 8.                   On or about December 1, 2016, REI offered, in writing, to attempt to resell the tax lien certificates and give him a refund of his purchase price of certificates resold, less a restocking fee not to exceed twenty percent (20%). Any refund would have been subject to REI’s ability to resell the certificates. 9.                   Mr. [redacted] did not respond to REI regarding this offer. Instead, he filed his Revdex.com Complaint. 10.               Mr. [redacted] still has the opportunity to move forward with the foreclosure of the tax lien certificates he owns, giving him potential to earn a return on his investment. At this time, REI is no longer willing to refund Mr. [redacted]’s purchase. REI disagrees that the properties subject to the tax liens have the low value asserted by Mr. [redacted]. REI will do what it can to assist in the foreclosure process through the tax lien servicer.

REI Holdings, LLC’s Response to [redacted] & [redacted] Revdex.com Complaints [redacted], [redacted], [redacted]. General BackgroundREI Holdings, LLC (“REI”) purchases and resells tax lien certificates. The cost of the tax lien certificate is determined by the amount of unpaid property taxes...

during the year of the certificate and the interest that has accrued to that point. There are two primary ways to make money from the ownership of a tax lien certificate:i.                    The owner of the property pays the outstanding property taxes and “redeems” the tax lien certificate. The payoff for each certificate is sent to the certificate’s owner. ii.                  The owner of the certificate forecloses the tax lien and takes title to the property with an opportunity then sell the property.As REI purchases portfolios of hundreds of tax liens at a time, REI makes no representations to its customers about the value of the property subject to the tax lien. Any information REI has regarding property value is from third parties, such as the county assessor, and provides such information as a courtesy only. REI further makes no guarantees that a property owner will, in fact, payoff and redeem the tax lien. To the contrary, REI’s contract warns that the investment could be lost completely and the purchaser represents that they have the ability to absorb the loss in income.At times, actions are taken against property after the tax lien is sold to a customer and REI has no knowledge or control of such actions. While this is understandably frustrating for the purchaser of a tax lien, it is a risk that the customer assumes when making his or her purchase. TimelineWith respect to the complaints of Mses. [redacted], below are the following facts:1.      On or about March 13, 2017, [redacted] entered into a contract for the purchase of five tax liens in Florida for the amount of $8,489.70 (exclusive of fees).2.      On or about March 21, 2017, [redacted] entered into a contract for the purchase of eleven tax liens in Florida for the amount of $4948.40, (exclusive of fees).3.      On or about June 27, 2017, [redacted], through her IRA, purchased one Ohio tax lien for the amount of $9,179.53 (exclusive of fees).4.      In November 2017, [redacted] and [redacted] attended a tax lien tour in Florida, at which they met with Edward S[redacted], a principal at REI.5.      Mses. [redacted] expressed no frustration with REI or her lien purchase to Mr. S[redacted]. Rather, they said they were pleased with their tax liens.6.      REI has no record of Mses. [redacted] calling into REI’s office since May of 2017.7.      REI’s standard procedure to resolve disputes is for customers to complete a Resolution Form. Had Mses. [redacted] called into our office, this procedure would have been explained.8.      After the Revdex.com Complaints were filed, Mses. [redacted] called REI and spoke with representatives that directed them to the Resolution Process. 9.      Edward S[redacted] has also contacted Mses. [redacted] in an effort to resolve this matter. Proposed ActionREI regrets there has been miscommunication with Mses. Laurienti regarding their tax liens. REI has hundreds of customers and the vast majority are pleased with the level of service REI provides and REI will make effort to rectify this situation.To that end and in an effort to resolve all Revdex.com complaints filed by Mses. [redacted], REI offers to refund the total sum of $10,455.49 to Mses. [redacted] as follows:i.                    Refund the tax lien on the Ohio property whose structure was found to be demolished, including fees, in the amount of $9,489.37, upon the tax lien being transferred back to REI or its nominee; and ii.                  Refunding the following Florida Tax Liens in Hardee County in the aggregate amount of $966.12, upon such liens being transferred back to REI: a.       Cert. No. 542 - $171.88;b.      Cert. No. 1308 - $157.79;c.       Cert. No. 1298 - $151.85;d.      Cert. No. 1046 - $120.82;e.       Cert. No. 67 - $122.53;f.        Cert. No. 66 - $122.53; andg.      Associated Fees - $118.72Sincerely,  Eddie S[redacted], Manager

We understood that the client wished to have replacements rather than a refund.  We are issuing a sending a check this week to resolve the case.Thanks for your patience.

REI Holdings, LLC’s Response to [redacted] & [redacted] Revdex.com Complaints [redacted]. General BackgroundREI Holdings, LLC (“REI”) purchases and resells tax lien certificates. The cost of the tax lien certificate is determined by the amount of unpaid property taxes during...

the year of the certificate and the interest that has accrued to that point. There are two primary ways to make money from the ownership of a tax lien certificate:i.                    The owner of the property pays the outstanding property taxes and “redeems” the tax lien certificate. The payoff for each certificate is sent to the certificate’s owner.ii.                  The owner of the certificate forecloses the tax lien and takes title to the property with an opportunity then sell the property.As REI purchases portfolios of hundreds of tax liens at a time, REI makes no representations to its customers about the value of the property subject to the tax lien. Any information REI has regarding property value is from third parties, such as the county assessor, and provides such information as a courtesy only. REI further makes no guarantees that a property owner will, in fact, payoff and redeem the tax lien. To the contrary, REI’s contract warns that the investment could be lost completely and the purchaser represents that they have the ability to absorb the loss in income.At times, actions are taken against property after the tax lien is sold to a customer and REI has no knowledge or control of such actions. While this is understandably frustrating for the purchaser of a tax lien, it is a risk that the customer assumes when making his or her purchase. TimelineWith respect to the complaints of Mses. [redacted], below are the following facts:1.      On or about March 13, 2017, [redacted] entered into a contract for the purchase of five tax liens in Florida for the amount of $8,489.70 (exclusive of fees).2.      On or about March 21, 2017, [redacted] entered into a contract for the purchase of eleven tax liens in Florida for the amount of $4948.40, (exclusive of fees).3.      On or about June 27, 2017, [redacted], through her IRA, purchased one Ohio tax lien for the amount of $9,179.53 (exclusive of fees).4.      In November 2017, [redacted] and [redacted] attended a tax lien tour in Florida, at which they met with Edward Stewart, a principal at REI.5.      Mses. [redacted] expressed no frustration with REI or her lien purchase to Mr. Stewart. Rather, they said they were pleased with their tax liens.6.      REI has no record of Mses. [redacted] calling into REI’s office since May of 2017.7.      REI’s standard procedure to resolve disputes is for customers to complete a Resolution Form. Had Mses. [redacted] called into our office, this procedure would have been explained.8.      After the Revdex.com Complaints were filed, Mses. [redacted] called REI and spoke with representatives that directed them to the Resolution Process. 9.      Edward Stewart has also contacted Mses. [redacted] in an effort to resolve this matter. Proposed ActionREI regrets there has been miscommunication with Mses. [redacted] regarding their tax liens. REI has hundreds of customers and the vast majority are pleased with the level of service REI provides and REI will make effort to rectify this situation.To that end and in an effort to resolve all Revdex.com complaints filed by Mses. [redacted], REI offers to refund the total sum of $10,455.49 to Mses. [redacted] as follows:i.                    Refund the tax lien on the Ohio property whose structure was found to be demolished, including fees, in the amount of $9,489.37, upon the tax lien being transferred back to REI or its nominee; andii.                  Refunding the following Florida Tax Liens in Hardee County in the aggregate amount of $966.12, upon such liens being transferred back to REI:a.       Cert. No. 542 - $171.88;b.      Cert. No. 1308 - $157.79;c.       Cert. No. 1298 - $151.85;d.      Cert. No. 1046 - $120.82;e.       Cert. No. 67 - $122.53;f.        Cert. No. 66 - $122.53; andg.      Associated Fees - $118.72Sincerely, Eddie S[redacted], Manager

Complaint: [redacted]
I am rejecting this response because: I...

do not yet have the $997 returned that was paid for the membership in the Club. I have been told it is forthcoming, but as the Revdex.com wants a response within a 7 day time frame, I must at this time reject the response. If and when I receive the money, I will change my response.
Sincerely,
[redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.  Part of the Buy-Back Agreement that [redacted] and I agreed to is that we will rescind our Revdex.com complaint.  Therefore, please rescind the complaint for REI's good-faith agreement to remedy our problem.
Sincerely,
[redacted]