Diamond Equity Investments: Legit Or A Scam?

Diamond Equity Investments is a real estate company that buys and sells houses, condos, apartment buildings, land, and commercial, office, and industrial properties. The company has offices in Philadelphia, Chicago, Atlanta, and Folsom, and Norcross, Georgia. Reviews of the company are mixed, with some customers praising the company's professionalism and transparency, while others have criticised the company for low offers and scam-like behaviour.

Diamond Equity Investments' business model

Diamond Equity Investments is a direct home buyer, with a business model based on buying, renovating, and selling houses, condos, and apartment buildings. The company also buys land and commercial, office, and industrial properties.

The company's mission is to provide sellers with a fast and convenient sale, allowing them to sell their properties "as-is" without having to clean, repair, or list their house with an agent. Diamond Equity Investments claims to be able to make an offer within 24 hours of a seller's initial contact and can close the deal in as little as 24 hours, provided the title is clear.

The company has regional offices in Philadelphia, Chicago, and Atlanta, and it buys more than 300 houses per year across the United States. It is not a franchise model or a middleman; instead, it purchases properties directly from sellers.

The process of selling a property to Diamond Equity Investments typically involves the following steps:

• Scheduling a time for the company to view the house.
• Presenting an "as-is" cash offer on the spot.
• Handling the title work and assisting with anything needed for closing.
• Attending the closing and providing the seller with their cash payment.

Diamond Equity Investments also offers flexibility with closing dates, accommodating sellers who need to close quickly while also allowing time for packing and moving. The company assists sellers in finding their next place to live, including rental properties or helping with the home-buying process.

The company has received mixed reviews, with some customers praising the convenience and speed of the selling process, while others have criticised low offers and questionable business tactics.

Customer reviews

I found a few sources that discuss the legitimacy of Diamond Equity Investments. However, it is not clear if these sources are referring to the same company.

One source, dated July 20, 2024, includes customer reviews for a company called Diamond Equity Investments, LLC, which has locations in Folsom, King of Prussia, Atlanta, Norcross, and Chicago. The reviews are mixed, with some customers praising the company for its professionalism, transparency, and efficiency, while others accuse it of scamming and predatory tactics. For example, a reviewer named Justin W. claims that the company offered a low-ball price for their property, citing unjustified repair costs, and another reviewer, Althea B., alleges that the company lied about the value of their property and sold it for a much higher price. On the other hand, reviewers like Schivon B., Eshelle B., and Fatima R. express satisfaction with their selling experience, highlighting the fairness, professionalism, and kindness of the company's representatives.

Another source, dated November 9, 2024, includes reviews for a company called Diamond Capitals, which is described as a wealth management firm based in Switzerland. The reviews are also mixed, with some customers accusing the company of being a scam and stealing their money, while others praise the company's user-friendly platform, helpful customer support, and profitable investment opportunities. For instance, a reviewer named Ella writes that Diamond Capitals' platform is easy to navigate and that their customer support team is top-notch. On the contrary, another reviewer, Nina, warns others not to use the company, claiming that they scammed her father and accessed his computer to get more capital from his account.

It is worth noting that the reviews for Diamond Capitals are from a website called Trustpilot, which allows anyone to write a review and displays reviews as long as the account is active. The reviews for Diamond Equity Investments, LLC, on the other hand, are from the Better Business Bureau® website, which requires verification and displays reviews only after receiving the reviewer's information.

Additionally, I found a third source that mentions a company called Diamond Equity Investments in Chicago, Illinois, with a rating of 2.6 stars. However, this source does not include any customer reviews or further information about the company's legitimacy.

Customer complaints

Diamond Equity Investments has received a number of customer complaints, which can be found on the Better Business Bureau (BBB) website and Revdex.com. Here is a summary of the issues raised:

BBB Complaints:

• Issues with property valuation and low-ball offers: Some customers have accused Diamond Equity Investments of making low-ball offers, claiming that the property required extensive repairs or renovations that were not actually necessary. This tactic is seen as predatory and aimed at novice sellers.
• Misleading advertising and mailings: The company has been accused of sending misleading advertisements and mailings, including "Final Notices" indicating that properties are at risk of tax sale when no delinquent taxes are owed. They have also continued to send mailings to individuals who have requested to be removed from their mailing list.
• Contract and closing issues: There are complaints about Diamond Equity Investments not honouring contracts, changing closing dates, and issues with title clearance. In some cases, customers have had to incur additional costs or extend contracts due to issues with title clearance.
• Unprofessional and dishonest behaviour: Some customers have described the company's employees as unprofessional, dishonest, and predatory. There are also complaints about employees lying about property values and using scare tactics to pressure sellers.

Revdex.com Complaints:

• Issues with tenant eviction: A complaint mentions the use of fear and intimidation tactics by a specific employee to evict tenants.
• Issues with junk mailings: Multiple complaints have been made about receiving junk mailings from Diamond Equity Investments, even after requesting to be removed from their mailing list. The company has responded by directing individuals to an opt-out link and text number.
• Issues with contract fulfilment and reimbursement: A detailed complaint describes issues with fulfilling a contract to purchase a condominium, including delays, broken promises, and failure to reimburse certain expenses as agreed upon. Diamond Equity Investments has provided a response, disputing the claims and providing their perspective on the situation.

Company ratings

Diamond Equity Investments has received a range of ratings across different platforms. On the Better Business Bureau (BBB) website, the company has an A+ rating. However, the BBB rating is based on specific reporting periods and is subject to change. As of 2024, Diamond Equity Investments has an average customer review rating of 4 out of 5 stars on BBB, with 28 customer reviews. It's worth noting that customer reviews are not used in the calculation of the BBB rating.

On Trustanalytica, Diamond Equity Investments has an average rating of 4.9 stars out of 2 reviews. On SoTellUs, the company has earned 5 stars from 189 reviews. Similarly, on BirdEye, it has a rating of 4.8 stars from 187 reviews. However, Yelp shows a lower rating of 2.6 stars.

Customer reviews on BBB are mixed, with some praising the company for its professionalism, transparency, and quick service, while others have accused the company of offering low prices and using scummy tactics. The reviews on Trustanalytica, SoTellUs, and BirdEye are mostly positive, with customers highlighting the professionalism, dedication, and fast sale process provided by the company.

Company locations

Diamond Equity Investments has several locations across the United States, including:

Folsom, PA

Diamond Equity Investments has an office in Folsom, PA, located at 1004 Macdade Blvd Ste 2, with a range of customer reviews.

King of Prussia, PA

The company also has a presence in King of Prussia, PA, with an office at 1150 1st Ave Ste 501.

Atlanta, GA

Diamond Equity Investments has an office in Atlanta, GA, situated at 1100 Peachtree St NE Ste 200. The company has received positive feedback for its Atlanta operations, with clients praising the team's professionalism, responsiveness, and ability to handle challenging situations.

Norcross, GA

Another Georgia location of Diamond Equity Investments can be found at 3850 Holcomb Bridge Rd Ste 280200 in Norcross, GA. The company has earned a 5-star rating from clients in the Greater Atlanta Region, specifically highlighting the team's professionalism, kindness, and ability to facilitate quick transactions.

Chicago, IL

The company also operates in Chicago, IL, with offices at 205 N Michigan Ave Ste 810 and 500 N Michigan Ave Ste 600. Reviews from past clients in Chicago reflect a mix of experiences, with some expressing satisfaction and relief, while others have shared negative encounters.

Frequently asked questions