Real Estate investment Property Scam
Kyle Dwyer is the owner and manager of this company which is part of an elaborate real estate investment property scam. It has many different facets and goes by many names, some of which are listed below:
Asset Hero Property Management
WICK Property Maintenance
Dynamite Inspections and Marketing
Two for One
Dwyer Connections
Twin 2 Twin Acquisitions
Aggies Anne Properties -- They ARE NOT AGGIES
KSD-TN
KSD-WAS
KS & DK
He has a property owner sign a vague contract with blanket terms. He has a tenant sign a lease with the promise of a "deposit free" experience using a third-party vendor (Obligo). The tenant must pay for a policy that is in his company's name that he has sole control over. The policy acts as a line of credit in the amount of whatever the tenant was approved for. Typically, it is more than double the amount of a normal deposit. Whenever he gets upset or mad, he will threaten the tenant with activating the policy. He is only supposed to activate that policy whenever a tenant moves out and there is damage to the property or if the tenant fails to pay valid charges. Once the policy is activated, that money goes directly to him with the tenant responsible for paying the line of credit back. Apparently, he has been allowed to activate these policies with no proof of damages or defaults on payments from tenants. Obligo explicitly allows this and can be researched on Obligo's website. He then takes the money for himself and turns around and charges the property owner for "make ready".
He double-charges both property owner and tenant for maintenance fees and repairs but will not show proof that repairs were completed by a professional or completed at all. He provides a generic invoice from one of his LLCs, billed to either owner or tenant.
When it comes to utilities, he will withhold the tenant's utilities from your rental income without asking you (and it's not in the contract) and then forward it on to you the following month when the tenant pays. He charges the tenants a monthly fee for "that" service. When you catch on to it and ask him to stop, the request gets ignored and he keeps doing what is in his best interest.
The only way to avoid falling victim is to avoid him at all costs.
If you see a listing that you like, but see they are the broker, you could easily look for the owner on Brazos County Appraisal District; call them up and let them know that you are interested in their property, but you don't want to rent through Asset Hero Property Management/TNT Property Management. Advise them to read the reviews that informed you of their scam. (You can also see a pattern of nefarious business practices by reading the reviews for Asset Hero Property Management.)
If you are a homeowner and don't have a tenant , you'd be better off canceling your contract before you get a lease. It's not too late, no matter what they tell you. In fact, after you have a lease, they will find every way for YOU to cancel the property management agreement so they can collect the cancelation fees. This is part of his business model.
If you already have a lease, fire AHPM/TNTPM, reach out to your tenant, and start working with them directly. He can't do anything about it, except make threats. I will say he gets very nasty and personal. He is just a sleezy, slimy, slick-talker that thinks he knows what he is doing. However, he is completely incompetent, otherwise he would not need to have his staff write his one-line, positive reviews.
Do yourself a favor and look for a reputable and trustworthy property management company. read more