BBB Issues Alerts Against Two Real Estate ScamsDENVER, COLORADO–BBB serving Denver/Boulder is issuing alerts against two scam real estate businesses operating in the Denver area, one of which allegedly cost a local consumer nearly $30,000. The fraudulent businesses are named SLH Real Estates and Colorado One Real Estate. These two alerts follow BBB investigations that have been initiated in response to consumer inquiries into both businesses. Colorado One Real Estate: Since the week of March 12th, BBB has received at least five consumer inquiries regarding a local company named Colorado One Real Estate, which advertises itself online as a Denver-based business specializing in property leasing, management, and mortgages. Following the initial steps of its investigation, BBB is alerting consumers that the entity most likely does not perform the services it advertises and appears to be designed to defraud unsuspecting consumers. So far, BBB has not been contacted by a consumer who reports spending money with the company.BBB contacted two of the four real estate brokers whose names are advertised on the business’s “staff” webpage—real, licensed brokers in Colorado—and verified that neither was familiar with a business named Colorado One Real Estate and that these brokers actually worked for other, legitimate, real estate agencies throughout the state. BBB also confirmed the downtown address the business advertises online to be false. The office suite the company claims to occupy is currently vacant while the building’s owner renovates the space.Colorado One Real Estate LLC is currently delinquent with the Colorado Secretary of State and is registered to a residential address in Centennial. BBB’s investigation into the business is still ongoing; therefore, BBB plans to provide consumers with updates on the business and asks anyone with information to contact both BBB and Colorado’s Division of Real Estate. SLH Real Estates: On March 18, BBB received a Scam Tracker submission from a Denver consumer alleging $29,000 in losses to a timeshare resale scam claiming to be located on Speer Boulevard near downtown Denver. BBB verified with the building’s owner that no business by that name operates on their property, and BBB believes that scammers behind the fraudulent business are actually based in Mexico. The scam company, SLH Real Estates, advertises itself online as a real estate business offering a variety of services including property sale and resale, as well as lease management and enforcement. However, BBB’s March 18 complainant alleges that while working with the company to facilitate the sale of his timeshare property, the real estate business continued to lie about unforeseen fees and obstacles, ultimately convincing the him to wire $29,000 overseas to supposedly resolve these obstacles. The complainant never recovered these funds and was later informed by his timeshare management company that SLH Real Estates was never authorized to complete such a transaction.This scam unfortunately fits a recent pattern BBB has observed with timeshare resale scams, in which scammers based primarily in Mexico pose as US real estate agencies and brokers, offering to facilitate transactions for consumers before disappearing with thousands of dollars paid to them in up-front fees. For a more detailed description of these scams and how to avoid these scams, click here. This BBB investigation is also still ongoing, so as with Colorado One Real Estate, BBB asks anyone with information regarding SLH Real Estate to contact BBB, as well as the Colorado Division of Real Estate.