“ It ’ s too good to be true … isn ’ t it ? I ’ m having a hard time believing this .”
“ It ’ s too good to be true … isn ’ t it ? I ’ m having a hard time believing this .”
This was my first thought when I first heard about Bruce Mack ’ s Platinum Trust Group .
His claims seemed to go against everything I knew about investment taxation and asset protection . The main points included :
• 100 % exclusion of capital gains
taxes , without needing or using a 1031
• Deferral of rental income taxes in perpetuity
• Superior asset protection against liens , levies and judgements
• Total privacy , which reduces risk of litigation
• Generational wealth transference information about the Platinum Trust . I found plenty of glowing 5star reviews , and Better Business Bureau shows an A + with zero complaints . So far , so good .
Bruce is exactly as professional , insightful and easygoing as he appears in videos and interviews . His guidance and education were refreshing .
I knew from his videos that he had extensive real estate investing experience , so I first asked what led him to Trusts .
He answered : “ I lost over $ 175,000 and could have lost it all in a real estate deal that went sour . It was the worst experience of my investing career and one of the worst in my personal life . I have the financial and emotional scars to prove it .”
He continued : “ I was doing LOTS of subjectto deals in Las Vegas back in 2004 2007 . Within three years I did over 160 real estate deals . So it was no surprise when my door knocker , Bill , texted that he was on his way to my office with a distressed homeowner ( I call him Mr . BS Artist ) facing foreclosure to discuss other options .”
“ It was midafternoon and I needed to perk up , so one of the office staff brewed a large pot of Italian roast coffee . Just as I sat down , Bill knocked on the door and had Mr . BS with him . I invited them to come in and poured everyone some coffee .”
Bruce described the guy ’ s situation : he
was many months behind on his mortgage and was a couple of weeks away from losing his house at a foreclosure auction . After lengthy discussions and several cups of coffee , Mr . BS was excited that Bruce could help him .
Bruce would assume and catch up on Mr . BS ’ s mortgage ; put in new appliances , tile , carpet , and paint ; then sell the home for top dollar and split the profits . It seemed like a great deal , so Mr . BS and Bruce signed the paperwork to get started .
Bruce continued : “ Two weeks later a courier showed up with a lawsuit from Mr . BS to my office . I brought it to my attorney to learn what my options were .”
Bruce ’ s lawyer had a dry sense of humor . “ I ’ ve got good news and bad news . The good news is that I get paid no matter what . The bad news is you ’ ll hate what I ’ m about to say .”
“ First , Mr . BS alleges you kidnapped him when Bill drove him to your office ; that you forced him under extreme duress to sign the agreement , and that he was highly intoxicated at the time of signing . You can either fight this in court or settle . Your odds of winning in court aren ’ t good ( Las Vegas courts have a proconsumer / antiinvestor tendency ) and legal fees will easily exceed $ 50,000 $ 75,000 or more .”
A podcast I listened to that featured Bruce Mack made some powerful claims , but were they true ? I needed to find out .
My Call With Bruce , and his $ 175,000 Mistake
At this point , I decided to call Bruce directly and ask specific questions . The company website gave extensive
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