Wells REIT LI

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A Rip Off Of Consumers
Posted by on
NORCROSS, GEORGIA -- This is a Real Estate Trust that I have been with since 2005.

I have now reached retirement age and am converting all my investments into annuities, so I can enjoy my golden years.

This has been accomplished in all my investments except WELLS REIT II. I am now told that my $4,500 investment is worth $2,725 60% of my initial 2005 investment. This is accomplished by now telling me that the investment was for 10 years, my original broker failed to mention that fact and is no longer a broker.

I want everyone to know that you must check every line on anything that is out their.

I fell this is a RIPOFF by WELLS REIT II.


William Newsam
     
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User Replies:
SaMoore on 08/10/2010:
Good review OP. It may have just been one broker that did not disclose information but you now know WellsReit II has employed at least 1 dishonest broker. It's always up to the average consumer to understand the difficult legalese and it's just not possible to understand the loopholes unless you have a degree in law.
rockfishing on 08/10/2010:
Just cross your fingers and hope that the real estate market bounces back in the next 5 years.
grandma005 on 08/10/2010:
It won't. Nobody has money to buy houses. Investors are sucking the life out of houses here in California. 2 bedroom condos are selling for 50,000 once were 200,000. 385,000 houses are selling for 130,000 to investors. Who are renting them for 1500 to 1600. If you are not paying cash you don't have a chance of winning any bids on houses.
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