Elliot Ambalo

Full Report

Key Points

• Elliot Ambalo operates as the principal of A Real Estate Investment Company, focusing on property development in Brooklyn, and claims expertise in digital marketing.

• Serious allegations of fraud and forgery have surfaced, particularly tied to predatory real estate practices targeting vulnerable homeowners in Black and Latino neighborhoods.

• His online presence is suspiciously polished, with self-generated PR dominating search results, suggesting potential reputation management to suppress adverse media.

• Limited transparency around his business operations and financials raises significant red flags for investors.

• Associations with his brother Joseph Ambalo and partner Etai Vardi are linked to controversial property acquisition tactics.

Overview

Elliot Ambalo, born in the 1990s in New York City, styles himself as a dual-threat entrepreneur. By day, he’s the principal of A Real Estate Investment Company, a Brooklyn-based firm that purportedly transforms vacant properties into high-quality homes. By night—or perhaps concurrently, given his vague timelines—he’s a digital marketing strategist, advising brands from startups to Fortune 500s on SEO and customer engagement. His personal website and Medium profile tout a passion for sustainability and community development, but the lack of verifiable details makes his narrative feel more like a well-crafted pitch than a proven track record.

Ambalo’s real estate journey began in 2015 as an apartment rental assistant, evolving into property flipping with his brother Joseph and partner Etai Vardi. His marketing persona, meanwhile, emphasizes AI-driven strategies and sustainable branding, with articles published in 2025 on platforms like Fox Interviewer and OpenPR. Yet, the substance behind these claims is thin, and his ventures’ opacity invites skepticism.

Allegations and Concerns

The most damning allegations against Ambalo come from a 2023 investigation by THE CITY, which exposed a pattern of predatory real estate practices. Alongside Joseph Ambalo and Etai Vardi, Elliot is accused of targeting properties in gentrifying Black and Latino neighborhoods, exploiting heirs of deceased homeowners who lack wills. Their method involves acquiring partial property shares through generically named LLCs like South Jamaica Holdings 2 LLC, often at a fraction of market value, then flipping properties for significant profits. At least two heirs and one notary public have leveled fraud and forgery allegations against the trio, with one case involving a house sold for $660,000 after being acquired for a mere fraction of that amount.

Victims like Fisher and Pridgen, quoted in the investigation, called the transactions a “ripoff” and a “scam,” alleging that Ambalo and his partners used deceptive tactics to pressure heirs into selling. These allegations raise serious ethical and legal concerns about their business model, which appears to prey on vulnerable communities. No criminal charges have been publicly confirmed, but the accusations alone are a glaring red flag.

Customer Feedback

Customer feedback on Ambalo’s ventures is scarce, which is itself suspicious for someone claiming to serve both real estate and marketing clients. On the real estate side, no independent reviews of A Real Estate Investment Company appear on platforms like Trustpilot or SiteJabber. The CITY’s investigation provides the closest thing to “customer” feedback, with heirs like Pridgen stating, “He stole our money. That was a ripoff.” These sentiments reflect distrust and financial harm among those who’ve interacted with Ambalo’s property dealings.

In marketing, Ambalo’s claimed client base—spanning startups to major corporations—lacks corroboration. No specific client testimonials or case studies surface in public records, and the glowing articles about his expertise read like paid PR. The absence of negative reviews is less a sign of excellence and more a hint of aggressive reputation management, as independent feedback is virtually nonexistent.

Risk Considerations

• Financial Risk: The lack of audited financials or transparent project records for A Real Estate Investment Company makes it impossible to verify its financial health. Investors face the risk of funding a venture with unproven returns or hidden liabilities.

• Reputational Risk: Ambalo’s association with fraud allegations and predatory practices could taint any investor or partner, especially in socially conscious markets where ethical conduct is paramount.

• Legal Risk: Allegations of fraud and forgery, even if unprosecuted, suggest potential for future lawsuits or regulatory scrutiny, particularly given the predatory nature of the reported real estate tactics.

• Operational Risk: The opacity of Ambalo’s business operations, combined with his reliance on familial and close-knit partnerships, raises concerns about governance and accountability.

Business Relations and Associations

Ambalo’s key associates are his brother, Joseph Ambalo, and business partner Etai Vardi. Joseph serves as CEO of a real estate firm focused on multifamily properties, while Vardi collaborates on property acquisitions. The trio operates through LLCs like The Queens Foundation and Jackie 42, which are used to acquire and flip properties. These entities are often registered with generic names, obscuring their connection to the Ambalos and Vardi. The CITY’s investigation notes that Elliot identifies distressed properties, while Joseph and Vardi handle genealogical research to track heirs, creating a streamlined but ethically dubious operation.

No major corporate partnerships or high-profile clients are documented, despite Ambalo’s marketing claims. The familial and close-knit nature of his business relations suggests potential for conflicts of interest or undisclosed related-party transactions, a red flag for due diligence.

Legal and Financial Concerns

While no public records confirm active lawsuits or bankruptcy filings against Elliot Ambalo personally bargain, the fraud and forgery allegations reported by THE CITY are significant. In a 2022 deposition, Elliot admitted to targeting “heavily disrepaired or vacant” properties, and court papers filed by South Jamaica Holdings 2 LLC, with Ambalo as managing agent, document attempts to evict tenants after low-cost acquisitions. These actions led to at least two fraud allegations from heirs and one from a notary public, though no convictions are noted.

Financially, the rapid flipping of properties—such as the $660,000 sale after a low-cost purchase—indicates significant profit margins but also potential exposure to tax or regulatory scrutiny if transactions were misrepresented. No public records of unpaid debts or bankruptcy were found, but the lack of financial transparency for A Real Estate Investment Company is a concern in itself.

Risk Assessment Table

Elliot Ambalo presents a polished image as a real estate and marketing innovator, but the cracks in his story are glaring. Pros: His ability to navigate New York’s competitive real estate market and leverage digital marketing suggests business acumen. His focus on sustainability aligns with market trends, potentially attracting eco-conscious investors. Cons: Allegations of fraud and predatory practices undermine his credibility. The lack of independent feedback, financial transparency, and verifiable client success stories raises doubts about his claims. His aggressive SEO tactics suggest an intent to obscure adverse media, a tactic that may backfire if exposed.