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pyramid scheme
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In 2023 my company paid about US$85,000 for 6708
Edna Ave, Cleveland, through Global Investments (US$77,900 purchase price plus fees). Today the county values the house at only US$25,900 - not even a third of what I paid.
Before closing, John O'Donoghue promised in writing that the renovation was "included in the price" and that US$13,000 of repairs would be "kept in escrow" for the contractor. The brochure promised US$1,350-1,450 in monthly rent.
Three years later: the renovation was never finished, the house has never been rented, I have received $0 in rent, and the property is now abandoned with people sleeping inside. Global stopped answering. Even the property manager they recommended confirmed in writing that the house was never ready.
Reading other reviews, I am not the only one: unfinished houses, extra costs, no tenants, no answers. In my opinion, this is a scam and works like a pyramid: they keep selling new houses to foreign investors while previous buyers are left with nothing.
DO NOT INVEST WITH GLOBAL INVESTMENTS.
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