J.E.M. Investments - Posted by Lynn (AL)

Real Estate Investing
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Posted by Mel Algar on May 13, 1999 at 12:23:57:

In my last comments I stated J.E.M. Investments, Inc. has been in business for approximately 3 years. However the principle and family members have been purchasing mortgages for the past 27 years and decided to incorporate J.E.M. Investments Inc. three years ago.

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J.E.M. Investments - Posted by Lynn (AL)

Posted by Lynn (AL) on May 03, 1999 at 19:53:13:

Anyone ever dealt with J.E.M. Investments? Think they’re in Washington state. Would like any and all information you can give.

Thanks,

Lynn (AL)

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Re: J.E.M. Investments - Posted by withheld

Posted by withheld on June 12, 1999 at 05:13:59:

Once upon a time, in Jan 1999, I called FSB about an institutional note buy. For some reason they gave me JEM’s phone number(Liberty Lake, Wash). I was very unfamiliar with note deals, I figured they were a credit checking service for FSB, because the first thing they did was ask for my SSN and written permission to run my credit. They quoted me a 9.5% rate I would be paying on my note. I wanted to think about it. In February I called them back, asked if they still had my file, and they did but they would need to run another credit. Boom, another inquiry. This time they would require an interest rate on the note of 10.5%. Huh? Then, in desperation, a month later a “friend” of mine said he would help me with the note problem I was having, and ran my credit (ouch) again, and lo and behold, took it to JEM after I had told him I had already had a quote from them!! Guess what now it was going to be 11.5%. Good god, that coupled with my experiences with broker brokers calling me off of ANN, its no wonder I think notes bite. Even if Mr. Behle is a very smart and good businessman. And yes I did call Sydney for advice on her way up the star ladder, I had a similar experience. By then, the only thing they could say was my note had been “shopped” too much. HUH?? I guess I will stick with mortgage brokers and the inch thick documentation. 9% interest rate.

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Re: J.E.M. Investments - Posted by Stdney Freeman

Posted by Stdney Freeman on May 12, 1999 at 16:46:15:

I am the agent with JEM Investments who is on the tape with Ron Legrand. Thanks to Jackie for making me aware of this discussion.

We have had a “problem” that is every investor’s dream: our business LITERALLY tripled overnight. I had one part time employee and now we have two full time ones. Including my partner and myself, there are now four of us working fulltime. We have been working 10-16 hours all week long, and many weekend hours trying to put our systems in place and keep up with the volume. Our deepest apologies to anyone who didn’t receive prompt service. We are working very hard to correct the situation.

There is a JEM Investments in Seattle WA and they are an aeronautical company. That is not who we are. We are principals, not brokers. We have been in business for 27 years and will buy about $200,000,000 this year.

We are definitely not perfect, but are working hard and earnestly to be better every day.

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UPDATE – J.E.M. Investments - Posted by MarkHOUTX

Posted by MarkHOUTX on May 06, 1999 at 11:45:09:

Lynn, the number you provided appears to be correct.

I called it and they said their president would call me back. He never did. Today, I get a call from the company in Florida that was on Legrand’s paper power tape saying JEM asked them to call me to see if I had any questions.

I feel like JEM should have called me back and told me they didn’t want to work directly with me, and that I needed to go through an intermediary. I thought JEM not returning my call after they said they were going to was very unprofessional.

Let me know if you talk with them and get a different response.

Thanks.

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Re: J.E.M. Investments - Posted by Michael Murray

Posted by Michael Murray on May 04, 1999 at 15:42:28:

Here are a couple of URS’s I found with a quick search

J.E.M. Mortgage & Investments
http://www.wincom.net/navacom/jem.htm

The Jem Group & Associates, Inc.
http://www.jemgroup.qpg.com/

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J.E.M. Investments - Are they real??? - Posted by MarkHOUTX

Posted by MarkHOUTX on May 04, 1999 at 14:39:49:

Lynn, I found this on bigfoot.com

JEM Investments (no periods in the name)
7777 Perimeter Road S.
Seattle, WA 98108
(206) 763-7678

I called them. They answered with a different name. I asked if this was JEM Investments and they asked why I wanted to know and what was this regarding. Very evasive. I asked if they bought discounted mortgages or notes. They said no, but they were JEM Investments, and they were an aircraft company or something to do with aircraft. The guy’s behavior was strange to me.

Let me know if you come up with anything else on J.E.M.; I would like to get in touch with the real J.E.M. Investments if they exist and are a legit company.

Thanks, Mark Kohn

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Re: J.E.M. Investments - Posted by Jackie in Dallas

Posted by Jackie in Dallas on May 03, 1999 at 21:24:02:

I dealt with 2 different individuals that claimed to be brokers for JEM out of Spokane Washington.

Both the brokers were flakes - didn’t get back in touch with me for days and days…and even then it was only because I called them, not the other way around. They NEVER did give me a quote, even after having all my note information for more than a week.

I don’t know if that is a reflection of JEM - but sure didn’t leave a very good impression!

BTW - one of the “brokers” is the lady featured on Ron LeGrands tape of month, Paper Power!

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Re: J.E.M. Investments - Posted by MarkHOUTX

Posted by MarkHOUTX on May 04, 1999 at 20:22:24:

Thanks for the info, Michael. J.E.M. Mortgages & Investments might be the company I am looking for. I will call them in the morning. The address for the second site kept coming back with an error, so I could not pull anything up for that company.

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Try this number - Posted by Lynn (AL)

Posted by Lynn (AL) on May 04, 1999 at 21:15:19:

I was forwarded this phone number for JEM: 509-921-1610. They are located in Liberty City, WA, not Seattle. Also, Jackie says their Prez. is speaking at an uncoming Dallas club meeting.

Lynn (AL)

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Re: J.E.M. Investments - Posted by Mel Algar

Posted by Mel Algar on May 13, 1999 at 11:29:30:

For anyone requiring information, or having a communication problem with J.E.M, please call me at 509/921-1610. This company has been in busines approximately 3 years and has won awards from our Private Mortgage Operation funders. In a fast growing company, it is impossible to keep everyone happy. However let me know and I’ll try.