Flip this house fraudulent?
Last year I became a fan of “Flip this House on A&E, I’m not one to sit in front of the television and I could probably count the number of shows I watch on one hand but this particular one caught my interest because it was local. The show featured an investor by the name of Sam Leccima, a successful Atlanta real estate investor.
The show intrigued me for a few reasons, first being that I lost a great amount of money on a bad real estate investment, so I am always interested to see how others make a living in that industry and possibly see where I went wrong. Second the investor is African American and it is a relief to see an African American family shown in such a respected position. Not to say blacks are depicted a certain way on television but I do feel it has become common to see blacks being associated with violence in the media.
The show followed Sam as he rehabbed and sold houses here in the Atlanta area, he seemed to be doing amazingly well.. 7 series BMW, Condo in a high rise building downtown, him and his wife were living the American dream.
 Well it has come to light that Sam may be a fraud, which is highly dissapointing. MSN.com reports that Sam may have been faking the home renovations his company did on the show and that he claimed to sell houses that he did not own. Not only that but people are coming forward that have invested in Sam but have not seen the money ever since. In 2005 the Georgia Real Estate Commission revoked his license stating Sam “does not bear a good reputation for honesty, trustworthiness, integrity, and competence.â€
Dissapointing, so dissapointing. And people like this are the reason why the real estate market is in the toilet right now. You have so called investors cutting corners to turn a measily profit, some do it in the name of god. College educated business people who do not have an understanding of “social responsibility,” its amazing.
