Ripped news need advice, so you don't have come run in just sus fast
as we can. Shooter's gonna help come man, This is the Troubleshooter Show.
No Tom Martino, Hello, Tom Martino here, Welcome to the show.
Three oh three seven one three Talks seven one three eight two five five.
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Now listen, we're going to talk about anything you want. But I
have a joke. It's a media joke. It's not really a haha.
You're not going to bend over backwards laughing your ass off. But how about
this, if I could sum up the show with today's world, let's just
blame everything on certain things. If we had to pick the main cause is
for all of our problems, what would they be. I'm not going to
mention this until Mark gets on the mic. So he's I see his ass
in there kind of sauntering in, not really ready. So I'm going to
go to a little lake. Keep going. Now, I'm gonna I want
to solicit you or ask you some ideas. And Brian Burns here with Compass
Insurance Group as a joke, I want to I just want to ask You'll
know what I'm going to say, the blame game. But deepak, right
now, let's talk about windows. What's going on? Deepop? Hi?
Tom? Thanks? So I actually reached out to this company, the Kicklinger
Glass Company, and about register replace the glass of the cracked glass of my
exterior window. Okay, so you wanted to just replace one pain on an
outside pain of a window, yes, okay? And he actually gave me
the code of six and forty eight dollars to replace. I don't want to
interrupt, but if you have a duel or triple pain window, can you
do just one? Well, Mark, what I think he's talking about what
you can do? And that's a really good question. You can't do one
of a triple or double pain because they're called insulated glass units igus. Igus
are complete units and if one cracks, you have to replace the IGU.
However, there are some glass that are are just you know, single pain
or just old fashioned that he can change out. So, Deepak, I
assumed you were talking about the insulated glass unit, right, that is correct,
okay? And what happened? So he gave me a quote, and
that happened on January twelfth, and we signed a contract and it was just
one window, right, one window, and the quote was for six forty
eight. That is correct, okay. And what's the name of the company
that gave you that quote. It's a Kicklinger Glass lcc LC. Sorry,
Kit, I can't understand the name of spell it for me kid kite Linger
k I G h T l I n g E R Okay. So anyway,
what about it? Yeah, so I gave him an advance of fifty
percent of three hundred and twenty three dollars and he said the glass will be
ready in two to three weeks. Then I reached out to him after three
weeks. He said, so basically, have you gotten the glass or not?
No? No, how did you find kite Linger? How'd you find
him? It was I searched him up Google him, and I think I
did the search on the treads list as well. So they're not responding at
all right now. He is responding in the sense that I asked him,
when are you going to replace the glass? When are you going to replace
the glass? He keep on dragging me. Now we are at the point
that I asked him that I need but refernd back. If you're okay,
when when did you first? When when did they order it? On January
twelfth? It's not terrible at this point still, And and how much did
they take? You said, just part of the six hundred right, It
took half three twenty Okay, So here's the deal, man, here's the
deal. I don't think I don't know. I don't think I don't know
this company from anywhere. But I don't think this is time to panic.
Sometimes it can take a long time if they have to make that. Did
he explained why it's delaying. No, he did not, and he keep
on dragging me. And we are at the point that he said, I
will give you the refund back, and it's been almost one week. He
said, I will give you the refund. I'll give you that a fun
and I send him a denign letter as well. But he is not defunding
me. In my mind, how did you pay that that three twenty in
a check? Uh? True? Zoo ah crap, Okay, all right,
here's the deal. We can have Deputy Doc call over there. I
think, however, I think you know Mark, do you remember fifty two
eighty? Are they still around? Eighty? Is window glass, window glass
and screen repet No, God bless that guy. He he actually packed up
and decided to move. I can't remember what gome to another country to help
orphans. And I'm not kidding. No, No, he's doing mission work.
You're right, you're right, But there are there are people that do
glass replacement units for failed and foggy units and cracked units. Hey, Tom,
yes, my son had the same thing. He had one pain replace
by somebody on our referral list. Let me call him up and find out
who we use. Yeah, I'm looking right now. If I see the
name, I know who Dyck's talking about. They might have bought that business
too. Man, I'm fifty two eighty. But let me get to referral
list real quick. Okay, good, we'll we'll figure this out. Meanwhile,
let's call over to this place and get his refund. Three zero three
seven one three talks seven one three eight two five five. You know,
Compass Insurance Group does this twenty four or not twenty four to seven, but
seven days or five days a week during normal business hours. You can call
them and they'll do an insurance checkup. A lot of people think, well,
that's just them trying to take a shot at your business. The answer
is yes, they are, but there's nothing wrong with that because the great
thing about checkups and Brian, I think you know where I'm going with this.
Math doesn't lie. In other words, if someone calls you and says
I have also which is a sucky company, or State Farm which is a
sucky company, or maybe another company that's not a sucky company, and they
say I'm paying this much money and I have this much coverage. Either you
can beat it or you can I mean, if you say you can beat
it and then you give them a bill that's hired, it's obviously going to
show up. So in other words, you have to put your money where
your mouth is. Right. Yeah, And but I have never seen the
insurance market like it is right now. Oh, there's so moving, so
many moved. We're going to talk about this because it's it's not just the
price that we're looking at for people. A lot of times we'll say,
well, did you realize this is what you have on your policy? And
either they know it or they don't, and we can say, well,
we can quote it out that way, but do you want it to where
you're responsible for this portion of a loss or whatever? That is a lot
of them are a lot of insurance companies are treating roofing differently than the other
losses. Yep. Yeah. So but one thing we must say, and
that is townhomes and condos are facing extraordinary challenges. Yep. Now, having
said that, I post a lot on next door, I don't know why.
One time Smarty Marty says, hey, you got to go to nextdoor.
There are a lot of people on there, I think they know what
they're talking about. And there are a lot of good people on there,
a lot of crackpots, But everything I post, I get a lot of
crap. My god, every time. Now most of the time most of
the people appreciate it, but I get these crackpots. The first thing they
say, it's a lie, you're exaggerating, it's not true. You know.
Bottom line is this that when I posted about townhomes and condos, I
got so much blowback. I also did that on news Break, where I
write for news Break too. So these forms, what people are upset about
is they say it's impossible, it's never going to happen, they'll never double
homeowners dues, and insurance is not going up that high. And I noticed
a lot of them are from an insurance agencies and they're liars. They're liars.
Right now. Condos and town homes are at a point where they may
net will not be able to get insurance in a few years, or they're
not they're choosing not to do insurance, and then they're changing it and telling
all the owners to get their own insurance. But in some cases, if
you have a condo on the third floor of a six or four building.
How do you ensure your room that's different. You're right, you can't.
Town homes can. But if you're in a condo, you can't insure the
root. You can't ensure common areas, can you? You can ensure And
a lot of people say lost damage assessment. But I want to make this
clear. Is there any loss damage assessment I can get as a condo owner
that will cover a fifty thousand dollars copey? Well, if it's assessment,
if it's a covered peril, in other words, if it was because of
a cover peril, sure we have What if don't they require certain underlying insurances
like an umbrella? Or what if the condo association? What if the HA
decides we can't afford coverage anymore for the roofs? Yeah, and they drop
it? Yeah, Okay, they have liability and all the others. But
let's say they drop roof coverage. Would lost damage assessment cover you if you
had no underlying insurance? Well, here's the problem on it is if they
covered, if they if they dropped the roof coverage, would it be in
the form of a loss assessment? Are they still handling the loss of that,
they would become self insured, so there they would pay for it and
then assess the uniters. I just don't think they would. I think that
what I've seen them do so far, not on a condo but more town
homes is they send out a memo and I actually got one of these yesterday
from a client, where they are telling the individual homeowners, as of this
date, you have to have an HO three, which is coverage for the
exterior of the home, because our policy will lapse as of that date and
they're requiring proof be sent to them. I guess that with a town home,
so that's going to increase the cost they have to get their own roof
coverage. Yes, okay, how do they break down an HO three policy
though, Brian? Did they take? Okay, there's ten owners and I
don't even understand. When they come out to home, they it has to
be demised. It can't be a condo, it must be a town home.
Not a definition, but an HO three would cover My understanding is I
mean it covers stuff like fences, sidewalks, It covers everything. Well.
HO three has some coverage for other structures like a ten percent limit that is
still going to be falling under on the policies I've seen, they still do
have some common area coverage that would cover things like if there was a clubhouse
or fences around the neighborhood, they could still have a policy for that.
I want to know coming up, the differences between HO three, HO four,
HO five hocts, What the hell does that mean? I don't know
what it means. Do people know what I mean? Home owners? Of
course? But do we know what the one? Two, three? Is
there a one? Is there a two? Is there a three? Is
there a four? Really? The only thing you would ever run into is
three, four, five and six of what's the condo? What's a six?
Yeah? H five? What's the normal condo? H six? All
right, Well we're gonna talk about that because I I would assume that if
you had h O two, three or four five six, the higher the
number, the better the coverage. But that's not necessarily so, so that's
that's a good thing to talk about. And more coming up three oh three
seven, one, three, eight, two five five? What's on your
mind today? What can we do for you? I'll tell you what Probid
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find out now three oh three, seven to seven to one help. You'll
think you're his only customer when you choose Frank durand the real estate Man dot
com to list your home with Remax Alliance three oh three nine two zero sixteen
twenty two. Hi Tom Martino here three three seven one three talk seven one
three eight two five five get your calls in. But as I was seeing
at the start of the show as a little funny, I'd like to come
up with a host of reasons that will suffice for every call. So I
got the first one ready. The first one is it's Donald Trump's fault.
That's the first one. Heys, you see all those charges draped today and
the Georgia call just just minor ones minor ones. They go right to the
heart of it. I don't know what you're talking about. Actually, the
main case is still alive and well, yes, but a lot of the
rulings from today are going to affect the cases against the other charges. Did
they qualify did they disqualify Fanny? No, he's going to decide on that
this week. Here's the only part I was thinking about that. If he
is going to disqualify the entire office, why would he even make that judgment
today about the sixth that they threw out knowing that, you know what I'm
saying, because they might appoint a special prosecutor. Maybe Trump's fault is one
number two, Biden's fault, Okay, And what will be the next fault?
Think about it? Think about it. It's more climate Huh, it's
Martino's fault. Climate change. No, it's climate change. So we have
Biden's fault and Trump's fault. Climate change would be the next reason for everything.
What what else? Let's think of another reason and my YouTubers can help.
I'll tell you another one is let's see think of one climate change,
Biden's fault, Trump's fault? What come on? Name it? Oh?
The vaccination. The vaccination. Hey, that's getting a little weird, man,
I was. I started reading an article I didn't read the whole thing
about people trying to get to a point where they can sue those companies.
I guess there's you know what, here's that. First of all, no
one kept track of the of the adverse effects. No one did because I
I just know they didn't. Never mind, I don't want to get into
it. They don't. They didn't keep tracking. If you told your doctor,
they your doctor sat there with their finger. Never mind, that's what
your doctor did when you told them about an adverse effect. You think they
got on the phone or filled out a form. Come on, you said,
hey, doc, this is happening since the vaccination anyway, So are
there any other things we can trump? Is his fault? Biden's fault?
Climate change took going away, TikTok going away. That that's going to be.
That's I don't change, TikTok is going to go away. Well,
they passed today, and what was it the House? So it's going to
say it's not going to the Senate's not going to approve it. Okay,
So the House overwhelmingly approved it by over two thirds, and you think the
Senate won't for what reason? The House is republican, is republican, and
they want to I just said something that's very important here. Two hundred and
eighty five I think was the number out of three hundred and whatever, Well
over two thirds of the vote. You're saying it's bipartisan, and it's well
beyond bipartisan. It is Mark. What was the vote just informing to eighty
five what to get rid of, Well, not to get rid of TikTok,
but to force them to sell to another company or get the hell out
of the US. You know where they buried themselves, Guys. They buried
themselves last week when any boddy that logged onto TikTok had to enter their zip
code. Once you entered your zip code, everybody that used TikTok last week,
it would tell you your congressman's name. So they had all these kids
from around the country calling a congressman, most of them don't even know what
a congressman is, threatening to kill themselves if they got rid of it.
The stupid Chinese, actually the stupid company, TikTok proved their own point how
powerful they are. Imagine Tom if it was a vote about something like going
to war with China, they would do the same thing. They would use
that TikTok platform to tell people to call their congressmen to vote no on it.
It's crazy. Well, all social platforms are used like that, but
they're not owned by the Chinese government. Well okay, good point. Oh
wait wait, wait, hold on that owner Wait a minute. When he
was testifying before Congress, he says he is not controlled in any way,
shape or form by this Chinese government. They've already proved it is. I
mean, I don't know what else. There's no one that argues that justly.
Are you suggesting that a Chinese hold on? Are you suggesting a Chinese
national would lie to our Congress? Yes, and I think they would also
lie about where that virus came from. But do you remember during COVID when
everyone was shutting down in the China claims they blocked for us when we talked
about the the theory back then. I mean, most of us knew it
came out of the Wuan lab but if you talked about it on Facebook or
YouTube, what would happen? You were blocked? You were blocked, And
we still have those x's up there under the account. It's amazing. It
is not because Mores did. I didn't get those strikes because I talked about
the lab league. Yeah we did. We got one of those strikes on
our YouTube channel talking about the lab Oh. The other strike on the on
the on the Facebook channel I got was for encouraging people to take vitamins to
it to enhance their immune system. It was labeled false information. Am you
Tom? I said we'd all do better if we could enhance our immune system,
but that was considered by Facebook false information. So but to go back
and harp a little more on the TikTok thing, real quick, think about
it. Over fifty six percent of people I think under the age of twenty
two or something get their news. Think of that percentile from TikTok. That's
where they get their news. You know, we kind of laugh at people
MSNBC, Foxy and then they all have their agenda. But these people get
their news from the Chinese government basically TikTok. Do you know what accessible TikTok
is? I mean, surely, honest to God, I mean, really
it. But but I have to admit if I get on YouTube or TikTok
or any of those. They are not so much Instagram, not so much
of those other things. But TikTok and YouTube are addicting. You get one
topic after another, like the shorts, those YouTube tube shorts I love,
I don't. I like German shepherds. I like them all. I mean
I I have to tear myself away from them. There's always something. But
here's what I don't understand with the TikTok Sometimes they're so short, you don't
get you don't even understand the point of posting, or you don't understand why
they're posting it, and you can't see the rest of it. It's just
great. It's crack man. I mean really, they're addictive as hell.
You can't argue Trump's fault, Biden's fault, climate change, vaccination. If
we have to have another universal reason for everything going wrong, it would be
you're missing you're missing one. What Republicans? Yeah, I was going to
say Republicans and then Democrats, So we're not democrats, just Republicans. Oh
really she is? Okay? What yeah, excuse me, she's more conservative.
Who's our gun totin, who's our What is another universal reason? Uh
for for everything being wrong. What let's name it. I think those cover
everything right there. Well, Democrats get to escape by Republican. It depends
on who's doing the blaming, if you if you really take who's doing the
blaming. These cover everything Democrats, Republicans, Vaccination, climate change Biden's fault,
Trump's fault. Mainstream media. Mainstream media is really good, okay media,
mainstream media or was it MSNBC wouldn't even they don't even like, they
don't say Trump's name anymore, of course, less of its negative, which
is all the time. And then the other thing, they when he comes
out and talks about something, they simply won't allow him to have any airtime.
And I don't mean like in studio, I mean just from a speech
or something. They won't even love him because they say he lies, and
they won't allow lies. They cut them off. It's total censorship. Yeah,
all right, three O three seven one three eight two five five.
Got to take a break and talk about uh when we come back. I
have two follow ups for you. I want to remind people the free plumbing
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seven seven six. Go with a sure thing Denver's best roofer Excel Roofing dot
com. You don't pay a cent until you're content. Time for an insurance
check up free, no obligation comparison call Compass Insurance Paying too much your coverage
at dozens of insurance companies find out now three oh three seven seven to one
help. You'll think you're his only customer when you choose Frank durand the real
estate Man dot com to list your home with Remax Alliance three all three nine
two zero sixteen twenty two. Hey Tom Artino here three all three seven one
three talk seven one three eight two five five So if you have a problem
question, can plain and give us called Mario wants to talk about a contractor
and then uh I want to know causes for problems, if we had to
sum them all up. And then I want to talk about this insurance that
Trump had that could pay out for the sexual harassment. Actually the eighty two
million. A lot of people don't understand this. It wasn't for the sexual
It wasn't part of it was for that, but it was mainly for what
he said after that. It was for the defamation, wasn't it. It
was for defaming Big Chunk. Yeah, all right, anyway, let's go
to Mario. Mario, what's going on? Tom? How you doing?
Good man? What's going on with you? Uh? I've got a complaint.
I suppose about a guy. His name is jeff Jeffrey okay, and
what is this a contractor you worked for or you hired? Well, I
am a contractor so to speak, and I wanted to get out of contracting.
And this guy was flipping houses and he uh said, oh yeah,
well, if you want to invest the money, I can get you,
you know, return on your money really quick. Now did you did you
work on these houses or just invest in them? I just invested and it
was like my first time investing like that. And uh, I signed some
sort of who did you invest with Jeffrey my father? Well, uh,
the money I gave to him, but he put it in uh into t
d A C LLC t d AC and what was that? It was some
little company that he started to do this house. And what I found out
afterwards is that every house that he flips, he starts a TVA or he
starts in the LLC for that exact. That's not that's not there's nothing wrong
with that. There's nothing now listen, hold on, Mario, here's what
I need to know, just some really basic stuff. When you invest in
an LLC with someone else, Okay, did you what were the provisions in
the LLC for distribution of profits and all that? Did you have a document
you signed? Yeah? And so did you actually invest in the LLC or
did you become an owner of the LLC with that person. With an LLC,
you would have to be an owner. It's not really an investment.
The investment would come in the form of a limited partnership. So you were
just basically you formed I know it doesn't look like this, but you formed
an LLC or were part of an LLC that and you own part of it?
Is that right? No? I took this guy on his word he
was going to make me three thousand dollars and three months, and he was
how much did you invest? One hundred thousand, one hundred thousand, okay
to make three percent? No, no, mark, it was one thousand
dollars a month he was making. It would have been annualized twelve percent.
Yes, So after after, after COVID, it was it was like a
year later he paid me sixty five thousand dollars but said that he would pay
me the other fifty thousand dollars. Mario, that Mario, this war.
Listen, did you loan the money or invest the money? I thought I
was investing. Well, here's what I want to know. If well,
here's what I want to tell you. If you invested money, you could
very well lose money during COVID. On this you could have very well loved.
And he doesn't owe you anything. I mean, he could have paid
you sixty five and said that's how much you made. How much of the
LLC did you own for one hundred grand? I don't think I owned anything
of the LLC. I was trusting this guy, Okay, So when you
gave him one hundred grand, you said you signed paperwork. What did you
sign? I have a pro promissory note? Okay, So you're a lender,
Mario, Mario, Okay, yeah, you did not invest anything.
You loaned money to a fix and flipper. Yeah, this is my first
time doing this. No, I'm not I'm not accusing you. I'm just
trying to get an accurate picture. I understand you trusted him, but you
have a promisory note. And that promisory note says that you loaned him one
hundred grand Is that right? Yes, sir, it probably says he loaned
just at LLC, not the guy, right, that's right now, with
this loan that you made to the LLC? Okay? Did it say how
much interest it pays you? I don't see that. What do you mean
you don't see it? Was he just going to pay one hundred grand back?
You said you were going to get one hundred and three thousand and three
months? Does it say that in the in the promisory note that says until
paid at the rate of twelve percent per animal? Okay, it does say
that. And has he ever paid you? Like I said, he paid
me sixty two thousand dollars after a year. I didn't sign it. I
he defaulted on that note, why didn't you get a judgment at least against
the LLC and then put it on the house. Well, because the house
went away. He sold the house when he gave me the fit the sixty
two thousand, so the house was gone. I never put my name on
the house, leaned. What is the first of all you need to send?
You need to send the promise story note. Okay, I'm not sure
what you did. Send the promise sory note. So right now you've been
paid a total of how much right now? Sixty two and he gave me
ten thousand dollars? How much were you I just need to know total?
How much were you paid back in total? Seventy two thousand? Okay,
and you were supposed to make twelve percent? Send that to us. I
want to look at it. If that's the best we can do at this
point. But Mario, if he did everything the right way and you you
loan to an LLC and you didn't get paid, and it could be you're
just out right now. Did the LLC go away? Oh yeah, yeah,
yeah. He went from from the LLC to a corporation to another LLC
then and the house was sold. Well he can't Okay, he can't transfer
stuff out of that LLC without a good reason, But you didn't own the
LLC. Send that promisory note. That's the best we can do is have
somebody look at it. Three oh three seven one three A two five five
go with a sure thing Denver's best roofer Excel Roofing dot com. You don't
pay a cent until you're content. Time for an insurance check up free,
no obligation. In comparison, call Compass Insurance paying too much your coverage at
dozens of insurance companies find out now three all three seven to seven to one.
Help. You'll think you're his only customer when you choose Frank durand the
real estate man dot com to list your home with Remax Alliance three three nine
two zero sixteen twenty two. Hi Tom Martinez, we got this promisory note
and it's just a straightforward promissory note. And all it says is it's going
to pay him twelve percent per annum so until they sell the house, and
so he has to calculate. There is no default provision. So the note
ended at the sale date of the house, and that's where interest is calculated.
You can't calculate beyond that unless you got a judgment because no default provisions
are in the note. So the way I look at this note, it's
a straightforward promisory note with twelve percent interest. It says nothing about percentage of
sale or anything. So it doesn't matter if he lost money or anything.
He just straight out this LLC straight out loan of money and that's it.
They loan the money and he can't dissolve in LLC without standing obligations. So
where is the LLC. Well, it depends. I mean if he literally,
you know it doesn't have any money, he basically went bankrupt, or
if this guy sues him could go bankrupt. I mean, it depends if
he's hiding the money or if they legitimately lost money and had to go out
of business. Right, Mark, I'm not talking about bankruptcy. This guy
did not declare it. This this LLC didn't declare bankruptcy, did he No,
I don't know if he did or not. But I'm saying if this
guy actually spent the money to sue him and got a judgment, they very
well could. That's true, They very well could. That's right. If
there's no fraud involved, that's right. However, you can't dissolve the LLC
without standing obligations. So where is the LLC? Mario? I'll just look
it up. You have no idea where the LLC is? Right? No,
okay, we got to get an attorney in on this. But bottom
line is this, This was a really unsecured promisory note. So what Mark
said is kind of true in that if he doesn't have money, you know,
and well, you can pierce that corporate veil pretty easily if he committed
fraud. But it doesn't matter if he doesn't have anything. You're in a
bad shape right now. You lost a lot of money and flip like by
rate other houses. Yeah, not under this ll Not under this LLC.
He didn't. Now you can go to the Attorney general if you think he's
defrauding. Were you going to send it to our attorney over the break too?
Yeah, we'll talk about this coming up on the Troubleshooter Show. Stick
around three h three seven' three talk Go with a sure Thing Denver's best
rufer excel roofing dot com. You don't pay a cent until you're content.
Time for an insurance check up free No obligation comparison call Compass insurance paying too
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three nine two zero sixteen twenty two ript news. You need advice who you
don't have? Come, runious as fast as we can. Shooter's gonna help.
Come man, this is the Troubleshooter Show. Now, Tom Martine,
Welcome to the show. I'm Tom Martino, trying to help you through the
day, through the life, through the year, whatever it is, with
problems, questions and complaints. Three O three seven to one three talks seven
one three eight two five five waterpros dot net the best water systems at the
lowest prices. Get your drinking water at least in line, and get rid
of those nanoplastics three oh three eight six two five five five four Just fourteen
hundred bucks for triple filter reverse osmosis. Now I want to talk about this
deal with Mario. Mario, there's a number of moving parts here, but
what's interesting is you said you invested with TDAC LLC. You you you actually
loaned the money, but you said it was a guy you were doing business
with called Jeff Maythaller. Jeff Maythaller is not the owner of that LS.
Jeff Maythaller is not the owner. Okay, I'm looking at the documents.
Okay. Is it a coincidence that the guy who registered this LLC is named
Terrence Doyle and therefore TDAC LLC could be Terrence Doyle too? Is that possible,
sir? Yeah, that's your friend of his. So here's here's what
law. Here's what here's what corporate law says. And I'm not giving you
legal advice, but if I know this from owning tons of LLCs that did
business, if you had outstanding obligations, you had a very specific way you
needed to dissolve them, or you could. You could pierce the corporate veil
and go after the individual members if they did not do it properly. Now,
you might, like Mark said, if financially they didn't have the money
anyway, that's one thing. But if they took profits on this and then
dissolve the LLC, you can go after those profits. You can go after
them right now, civilly individually for not dissolving this properly. If they did
not dissolve it properly, I don't know they did or not. Did they
notify you they were dissolving the LLC? You? No, they didn't,
okay, And they didn't give a notice to creditors? Did they? Did
they have a meeting and vote to dissolve and blah blah blah blah blah.
There are a lot of things that you have a right to know. And
I'm telling you that it is a really good thing that these laws are in
place because it will help you. So I'm just thinking, I'm just thinking
that you need to maybe see an attorney about it. But you got to
figure the cost when it comes to all of the all of the you know
what you're owed, Okay, what you're owed compared to what it costs.
Now, in these articles of dissolution, it does nothing. It does not
list any obligations whatsoever. I personally think that you probably can pierce this corporate
veil with an attorney and go after them. But will you get anything?
Is the answer? Did they distribute profits if they say they didn't make enough
money? Is he claiming basically that you got every dime because they were supposed
to pay that obligation. First, No, he knows he owes me because
he's paid me out of other LC's and he's paid me out of he's written
me checks out. Well, I would have an attorney write a letter.
Dude, do we get our attorney on yet? Brad O'Brien's on. He
looked at it. But in any case, Brad O'Brien is a real estate
expert and O'Brien legal services. Brad, that promisory note is just a regular
promissory note, isn't it. It's not secured. Well, actually it does
reference a deed of trust executed around the same time against that property. So
that does it say it's secured by that deed of trust? I didn't notice
that. Well at the bottom it says that this that it's it is secured
by adida trust. Oh really, I didn't see that. That's great,
actually, yeah, but that doesn't mean they actually did the data trust.
Oh oh oh oh. Well, what if it says it's secured by a
deed of trust and there is no deed of trust? What happens then,
Well, then there's no deed of trust? What's not secure? Okay,
Okay, that's weird. So at the bottom it does say that it's secured
by a deed of trust, this indebtedness evidenced by the note secure. You're
right, it's secure. Well couldn't you call that fraudulent by saying it was
secure, by giving him a false sense of security because it went on to
give a legal even the legal of that deed of trust. How would he
sell it? How would he sell it? If there was a deed of
trust on it? Wouldn't he have to get wouldn't he have to get this
guy to sign off? The first step is to find out is there a
deed of trust? And was it recorded? And that's a title search.
If there was one out there that's recorded, that's great. That means he's
secured against the real property. What if the guy went and sold it without
clearing this deed of trust or he fraudulently signed a release of deed of trust,
oh forged, forged your caller signature? Yeah, well then that could
be invalidated through because it's fraudulent. Listen, you know this is one time
I really believe you should pay for a consultation with brad O Bryan. Honest
to god, he can in about an hour or so tell you how they
sold this with a deed of trust on it, and if this deed of
trust was not ever recorded even though it said legally described property and a deed
of trust. So if he signed a promisory note and it was claimed to
have a deed of trust and the deed of trust was never done, what
do he have grounds to call this fraudulent and pierce that LLC veil. I
don't want to say yes or no, but I think it's unlikely because it's
really it's really the lender's progative to confirm at the time of receiving the note
a note that the data trusture mortgage was done at the very same time,
so he could say it's not my fault of the guy didn't check. No,
that the lender should should confirm at the time of handing over the money,
which was actually a couple of weeks after this. That's why people paid
title companies. Yeah, so if the lender, if I loan someone money
and they represent to me that a deed of trust has been issued or recorded,
it's my obligation to make sure it's true. Sure he's the lender because
it has to be delivered to you. If not delivered to you then then
it wasn't then it's not effective. So you can't claim fraud because you defrauded
yourself by not checking. Well, you can claim fraud. I don't think
it's a very strong case for fraud. Okay. And as far as okay,
and this promisory note is against the TDAC LLC which was dissolved, ask
him about the dissolution. Yeah, ok if they did. According to I'm
just reading LLC law, they say, if it's not dissolved properly with obligations
outstanding, you can go against the individual partners or I agree with that,
and you can file on articles of dissolution with the Secretary of State. That
doesn't mean you're dissolved to properly. You have to do a winding up of
the assets and debts. And if you wind up the assets but not the
debts, you're not wound up. Okay, all right, then I think
I think this guy ought to pursue it. I mean, how much money
are you owed right now? It's said twelve percent per adam, but how
much you figure your oad? Right now, well, hold on, go
back, Brat. I still have a question on the dissolution if it's not
done properly. Let's say, like you said, big deal, you go
to Colorado SOS and you say it's dissolved. You didn't actually dissolve it.
So where does it stand there? If someone simply goes to Colorado SOS and
says there LLC is dissolved and they do owe money, but the corporation doesn't
have any money. Does that pierce the corporate veil and they can go after
the members? Well, piercing of the corporate veil is an argument you make
in a court case to go past the LLC to its owners and members,
and you would use the lawmark that allows you to do that as part of
your evidence. Yeah. I heard you say that they were paying making repayments
from various LLCs. That means they mingling money between LLCs. That's a good
argument normally for piercing the corporate vale of limited liability. Yeah, I think
this guy is playing fast and this other guy's paying fast and loose. Here.
Hey, does this guy, this owner here, this Terrence Doyle or
whoever it is, does he actually do stuff with inmates? Coming out of
prison or am I looking at a different guy. Well, it's a straight
question. Okay. If you don't know, you don't know. That's cool.
So Brad, thank you very much. By the way, olslaw dot
Com seven two zero three seven zero seventy three eighty eight. Certainly we love
getting his perspective on this. As a real estate attorney, Mario, I
would consult an attorney at this point. You may want to consult a collection
attorney, but you're gonna have to pay now. You may find an attorney
for the outstanding balance. My rough figures seventy two. He's only he only
owes you a lot, what twenty five grand? Yeah? Roughly. Well
I got another promisory note on the nineteenth for the other half of the money
that he owed me. Okay, but no matter what, there's a finite
number he owes you, and you have to figure out if it's worth going
after him or not. Yeah, and here's another thing you could do five
years, Mario, what went on for five years this debt? Oh my
god, I forgot to ask that. Wait a minute, Well, you're
going to lose your right to get a judgment in a year. I think
it's six years. Look at you better consult an attorney on this, okay,
to get all of your rights in a row. The other thing I
want to mention if you can find other victims, so called victims, for
people that were not paid with similar scenarios, then you might be able to
go to the attorney general or district to turn Ernie and show a pattern like
this. But you'd have to have a number of victims. I don't know
if he'd get out of court. Well, let's say he's successful in court,
and let's say he does get a judgment, and let's say they even
the owners have money to pay him that judgment. I still think it's going
to cost him over twenty five grand to get there. You know, I
haven't said feeling it could be if they fight it. Yeah, it could,
it could, And Mario, there's nothing we can do about it.
I mean, this is an old debt. You sat on it, you
lost money, you know, Thank goodness, you didn't lose more. Actually,
you want to be honest about this, Thank goodness. I just want
it to be known so nobody else. Well, is he still making payments
to you now? Out of curiosity? I mean, like when he sells
another project. You said, he's writing your checks out of another LLC.
Are you expecting any Yeah? When was the last what was the last payment
you got over a year ago? Yeah, I've tried to contact him.
He blocked my number. He doesn't mess So you're you're gonna have to see
an attorney. I don't know if an attorney can help you. As Mark
said, it might cost more than it's worth to pursue, you know what.
For the hell of it, Let's have Kelly try to reach out.
If he blacked this guy, that means he's got a phone number. Let's
reach out and see if we can't get this guy to come on and defend
his actions. Maytholer, Jeff Maytholer, and then the other guy to whoever
the hell he was as part of that LLC. Let's do it. Three
oh three seven one three eight, two five five. Go with a sure
thing Denver's Best roofer Excel roofing dot com. You don't pay a cent until
you're content. Time for an insurance check up free, no obligation. In
comparison, call Compass Insurance paying too much your coverage at dozens of insurance companies
find out now three all three seven seven to one help. You'll think you're
his only customer when you choose Frank durand the real estate Man dot com to
list your home with Remax Alliance. Three oh three nine two zero sixteen twenty
two. Hi Tom Martine here three O three seven one three talk seven one
three eight two five five. Now, uh, we have Brian Burns with
us and he wanted to talk about this dex page. They do insurance checkups
all the time, and especially when they're here, so we can give examples
on the air and what I mean by an insurance checkup. You call,
they'll ask you questions. They want to look at your reference page, your
dex page, which is a really snapshot of your coverage is it's called the
declarations page, and then they give you a quote if they can help you
with better coverage, cheaper whatever. They can't help you. That's so you
have nothing to lose and you get that done at three h three nine nine
six nine thousand, nine nine six nine thousand. By the way, is
the Insurance Help Center dot com still working? Yep? Yep, the Insurance
Help Center dot com. Okay, so listen, Brian. One one person
sent you a deck page and you really thought, wow, I should call
this out go ahead. Well, yeah, I was just kind of looking
through some of the ones that have come in, and this particular person is
with a carrier called Hippo Insurance, which is kind of a smaller tech kind
of company. But anyways, this is why we like having the declaration page
sent in because he thought he had a one thousand deductible, which he does
for an all parel, but he has a five percent wind or hail deductible,
which equates to twenty nine thousand, seven hundred and fifty dollars for wind
and hail claims. So he is basically self insuring his roof for the most
party. Yeah, he always of it. Yeah, so how many how
many insurance companies are now doing that? Five percent is very rare, usually
on commercial and you see that, but on personal insurance, which is what
this is, usually you'll see one percent is the more common one. And
what would that turn out to be, Well, one percent would be almost
six thousand dollars that that would be commonplace. You see that all the time
now, but five percent is definitely on the higher end. Do you think
they'll ever come a time when they exclude roofs yeah, I think there'll be
an option to I always think you can probably find somewhere where you can buy
the coverage back. But roof coverage I foresee becoming really expensive because it's I've
got a deductible on mine through you guys. Yeah. Yeah. That's the
other way to save money, though, is you simply do a you know,
first of all, make sure you've got a good roof, and then
that's right, you know, if you do have a good roof, then
set that deductible at ten grand. Yeah. Anybody that has like a concrete
tile roof, my recommendation, go high on that deductible because you know,
you can save that annual premium in that concrete tile. While it can it
can be damaged. It would take an awful lot to have to replace that
roof. So in any case, here's the here's the message. You got
way more to look at than your premium. You have to look at the
conditions and the terms because you can end up in big trouble. Three l
three nine ninety six nine thousand, Keith. Six months ago, you called,
I'm trying to find your call, and uh, you called about a
mobility scooter? Is that right? Right about? Six months ago, I
called in because I'd been on a trip with Southwest and they confiscated my mobility
scooter. Why did they confiscate it? It was too big to get on
the plane? The battery, I remember this well. First they said it
was the battery, then they said it was made by the race because it
was made by the Razor company. Well, in any case, no matter
what, they they wouldn't let you fly with it, right, okay?
So what happened then, Well, of course I want to get it back
and they first, wait a minute, wait a minute, you when they
took it away, did you pay to have a ship to you or what?
What? What it was at the airport they took it away? Is
that right right? The airport in Houston? And what did they say they
were doing with it? Well, they called me the next day, said
they were sorry they'd taken it and they would return it to my home.
They wanted to verify my address, okay, And then after about a week
they said they couldn't return it, they would ship it. And then they
called said they couldn't ship it. They offered to buy me a new one,
and they said they wouldn't buy me a new one. Okay, after
about after about sixty days, they called and said, we have your scooter
in Houston. You have three days to come pick it up or we'll dispose
of it now. At that same time, they gave me a voucher travel
voucher. But if I use the voucher to go to Houston to recover my
scooter, how the hell am I supposed to get home? Well, I
don't know. I don't know the answer to any of that. Here's why,
here's why I called. Is it still there? Is it still there?
No, they've disposed of it. So need I need to at least
file a small claims action? I think So I can't even get I can't
get an attorney to talk to me. Well, you don't need to use
an attorney, not for small claims. Well, I'm not sure that it's
Maybe you know, how big a case could it be? What's the value
of the scooter that's your whole case? Five hundred dollars? There you go?
Well, okay, small claim squirt goes up to seventy five hundred,
it'll cost you five hundred dollars. If an attorney farts. Yeah, I
think Southwest, So I think they'd pay this up. I remember this call.
They they understand what happened. And what's weird Tom is when he left,
they did fly the scooter. It's only where he got to where he
was at. They wouldn't fly it back. So the whole thing's kind of
crazy. It's crazy. I think he'll get wrong. Can I give him
and I'll and I'll help him out Logistically, I think that you can sue
them. What airline is it? Southwest? Hey? And by the way,
I want to agree with something with you, Tom on Southwest. I
think their boarding is horrible. We flew this last trip, we had three
different airlines. Southwest is who we flew back from Mexico to den And it
is the dumbest way to load a plane I've ever seen. Just real quick,
listen to this. We paid for priority boarding, which they call,
you know, Group A. You know what I'm talking about. Uh huh.
So you're supposed to be one of the first x amount onto the plane.
Well, in Cabo, you take a bus from the gate to the
airline. You don't walk down the thing. You get me, so they
line you up to get on the bus first. So we paid ninety dollars
additional to get on the bus first. The problem with that is when you
get on the bus first, you get off the bust last. The people
in C got off the bus first at the aircraft and loaded the aircraft first.
I paid ninety dollars to be last. Oh wait a minute, Wait
a minute, How the hell did they didn't they know they were doing that?
Like why when you were a why didn't you sit in the front of
the bus. I have no idea, because they're morons. I don't know
no what I mean. I authoritize getting on the bus, not the aircraft.
It was so I get what you're saying. But here's what I'm asking.
Once you got to the plane, why did they let see people off
first? Because what you'd get off the bus and walk onto the plane.
All the people on A that got under the bus first were in the back
of the bush. Because they're morons. Here's your answer. But I complained
when we got back, and they gave me a credit for the thing,
which I'll probably never use. I'll probably just give it to you because you
fly him. I don't think i'd fly him again. I don't like their
whole boarding thing is ridiculous. I hate I want to I want a seat.
I don't like this cattle call. It's terrible. And what's really terrible
about it is the saving seats. I mean, you get one a guy,
that's what he does, and he'll save three rows and they don't say
a word about it. Yeah, no, it's a it's it's crazy.
And I'm like you, I don't care if I'm going to a movie or
on an airplane. I like to either pick out my seat at least know
where the hell I'm sitting right exactly. And we've also tried paying for priority
boarding, but and that's a little better, but it's still a pain in
the ass. That's what you did and it backfired with the bus. Now,
as far as Keith goes, let's let Mark talk to him about filing
a small claim. He'll give him the directions on where to go and file
where to go and get the forms and all of that. I think Southwest
will settle with you and you'll get a mobility scooter. I'd actually sue for
more than five hundred dollars. Are you kidding me? People would believe that
a mobility scooter would be whatever it costs. I mean, that's what I
would do. Okay. Three oh three seven one three eight two five five.
Frank durandereal estate Man dot com is who you call if you want to
know what your house will sell for and what you'll clear and what you can
buy. He'll do a full analysis free of charge for the asking, with
no obligation, and you can trust Frank to give you accurate information. He
doesn't use any gimmicks. He just uses proven results and proven strategies. Three
oh three nine two zero sixteen twenty two. Go with a sure thing Denver's
best roofer Excel Roofing dot com. You don't pay a cent until you're content.
Time for an insurance check up free, no obligation. Comparison call Compass
Insurance Paying too much your coverage at dozens of insurance companies find out now three
oh three seven to seven to one help. You'll think you're his only customer
when you choose Frank durand the Real estate Man dot com to list your home
with Remax Alliance three oh three nine two zero sixteen twenty two. Hi Tom
Martino, your troubleshooter three oh three seven one three talk three oh three seven
one t eight two five five. So we're doing insurance checkups at three oh
three nine ninety six nine thousand, which is the Insurance Health Center. And
by the way, we're still taking your calls on any and all things at
three oh three seven one three talk three oh three seven one three eight two
five five. So speaking of things near and dear to your heart in pocketbook,
Hey, Tom, you want to hear about the glass place when Yeah,
I want, I do. Let's get some follow ups because you had
a number of them too. So what let's talk about the follow ups?
What do you have first? Okay, So yesterday Maren called about a refund
from feet from Good Feet. You know what, that was great news.
I want you to tell us the show she called. Let me explain this.
She went to Good Feet. Now, I want to be fair about
this. She really, she really felt that she didn't get value out of
what she said there. Now she was willing to pay for the socks because
she opened them. And the shoes she said, you know, they're good
shoes, Brooks Brothers and or Brooks. I don't know if it's Brooks are
Brooks. And then she said, you know, I don't like the inserts.
I think they're overpriced, and I didn't get the value and I can't
use them in my low profile shoes, and she wanted a refund for that
part of it, and she was being she said, ignored by some of
the local people. What happened after she called, Well, you know,
I wasn't at the show yesterday, so I called her a last evening when
I got done with what I was doing, and she said, you know
what, I finally got to the person who handles refunds and they gave me
over thirteen hundred dollars of my seventeen hundred dollars back. There was a slight
restocking fee, but her total cost, as I said, was seventeen hundred
and she had little over thirteen hundred back. Good job, Doc, Yeah,
I didn't do anything. I just called her. I guarantee they had
wind of it. Yeah, of course they did on the show for sure.
And then darrenn, I want to give ourselves. I want to give
ourselves a dick. Give Doc that big dinger of yours. Okay, the
big one. And then Darren called about her son Jeffrey, having some problems
with multiple dentists. Oh, I'm dying to hear that one. So I
went through the whole hold on. Tom recapped at real quick. Which one
is that, the one with the dentures? Yes, and the uh there,
Okay, here's what happened. This guy went to the dentist Darren thirty.
Excuse me, it was actually Darren's son, Jeffrey diagnosed with leukemi at
two years old. He's thirty one. Now. To make a long story
short, her what happened was, uh, he had severe dental issues,
so from the chemo when he was a kid. Yeah, and he can't
afford anything. So one dentist did a bunch bunch of implants free as anchors
for the dentures. Another dentist, doctor Brandon Angus, agreed to make the
dentures free. And Mark thought she was jumping the gun complaining about this guy,
because here's what happened. The sun Jeffrey had to drive there several times
for fittings, and he thought, you know what, Darren, the mom
was frustrated. Jeffrey was frustrated, and they complained about this guy. Now,
remember, I don't want to throw shade on doctor Angus. He's trying
to do this free of charge. What's the latest on that. Well,
after we went through the whole story. I said, Okay, the first
thing you have to do is make a complaint to the dental board and let
them see whether or not something with sun that was out of standard of care.
So they said, well, we just sent a complaint into the dental
board this afternoon. So I said, fine, as soon as you get
a response from the board one way or the other, let me know and
we'll follow up from there. Because I don't think so you didn't. You
didn't get a hip of things signed for her to call Angus. But no,
no, but but she already sends to the dental board. I think
we need to let that play out of Okay, that's fine, And I
don't think this dentist is doing anything really wrong. I mean, he did
have him come up several times to try to fit him. Well, it
could be that he was having complications with the fitting. Tom it was the
second doctor they were upset about. That's what I'm saying, Doctor Angus.
No, no, no, they saw doctor Angus first. He sent them
for dentures. The dentires never fit, so he sent them to doctor Johnson,
who is going to put full mouth implants into Jeffrey's mouth. Mark.
I mean Doug listen, hold on, he was listening yesterday. I just
hate to disagree with you, but Doc, I know that the original dentists
already did the implants there in his mouth. The doctor he's going to see
now is doctor Angus, who is putting on the dentures. He's having problems
with the dentures, not with the implants. The implants are done and have
been done for three years. I have a different story. Tom So we
what did you get the story from from? From Jeffrey? Okay? Then
his mom was crazy? Okay. Bottom line is, did Jeffrey say he
doesn't have implants? That's correct. He has the studs, but not the
implants. The studs are the implants. Well, he doesn't have the teeth
on top of the studs. That's called the restoration the denture. That's exactly
what I just said. He had a doctor do the implants and they were
they work, They're bad. Tomato, Tomato, Yeah, I don't want
to I don't want to kill our audience. We probably already did. So
let's let's hope we can get them back. Here's the bottom line. The
dentists making the dentures they're upset with and that is doctor Angus, and they're
upset with him, and they shouldn't be. He's doing it free. So
let's see what the dental board says. Three oh three seven one three talk
seven one three eight two five five. Go with a sure thing Denver's best
roofer Excel Roofing dot com. You don't pay a cent until you're content.
Time for an insurance check up free, no obligation. In comparison, call
Compass Insurance paying too much your coverage at dozens of insurance companies find out now
three oh three seven seven to one help. You'll think you're his only customer
when you choose Frank durand the real estate Man dot com to list your home
with Remax Alliance three oh three nine two zero sixteen twenty two. I'm Tom
Martine, your troubleshooter three three seven one three talk three h three seven one
three eight two five five Tabitha. The recall on your air bags. I
happen to know a little bit about it, because it's not just the Dodge
charger that the older Dodge chargers. They they are any air bags manufactured by
Takata, who makes air bags for a lot of cars. They're having problems
with the inflators. The inflators get old and instead of inflating, they blow
up. Yeah, they've been having problems with that brand of airbag for fifteen
years. So what's going on with your situation, Tabitha, Well, I'm
sure I can get it fixed. I'm just looking for reputable dealerships, either
in Denver or Carra Springs or plab blah, I don't care. Somewhere here
in Colorado that will you don't be able to fix it. But in the
letter that I received, they're also supposed to provid I had a loaner vehicle
for one to two days and I need my vehicle for work. Obviously,
I'm just whenever I call the dealership, wait a minute, the recall.
The recall promises a replacement vehicle yes TEP for yes, yes, mole or
fix it because it could take one to two days to fix it. Really,
Okay, I didn't even know they were doing that. Don't we have
Where are you local? Where? Where are you in Denver, Colora?
Good, Colorado Springs Dodge? Yes? Yeah that's where you want to go?
Yeah? I like those guys a lot. Yeah, I don't want
to mention any names. But they didn't want to loan me a vehicle.
You know, obviously I got to have a vehicle for Wait a minute,
wait a minute, Colorado Springs Dodge did. But you told them that the
and I'm going by your word. You're saying the the recall says they have
to give you a vehicle. Yes, yes, on the paperwork it says
that they have to give me a loaner vehicle temper early. And it wasn't
Colora Spranks Dodge. It was Perkins and AutoNation. U. I do not
like Perkins. No, no, no, no. They want to go
to Colorado Springs Dodge specifically, who does she talk to there? Mark Andy's
in service or Jim Janiselli's the GM. Talk to Jim Jennicelli or service And
seriously, they're good people. Just call us back for him, talk to
them. They should do it. Go with a sure thing Denver's Best Roofer,
Excel roofing dot com. You don't pay a cent until you're content.
Time for an insurance check up free no obligation comparison call Compass Insurance paying too
much your coverage at dozens of insurance companies find out now three oh three seven
seven to one help. You'll think you're his only customer when you choose Frank
durand the real estate man dot Com to list your home with Remax Alliance three
oh three nine two zero sixteen twenty two. Yeah, Real DFD News.
You don't have come running just as fast as we can. Show Shooter's gonna
help come. Six is the Troubleshooter Show. No Tom Martino, Hi Tom
Martino here at three oh three seven one three talk seven one three eight two
five five. How you doing today? This hour brought to you by eight
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Exteriors for all your storm damage Genesis Tootalexteriors dot Com. Ira, he wants
to talk about a neighbor's blog. HM, let's talk about that. Plus,
we have Compass Insurance group in the house doing insurance checkups at three h
three nine ninety six nine thousand IRA. What's going on? Hey, Tim,
I am a long time listener. Thank you, sir. I appreciate
that I gained a lot of valuable knowledge about the world on your show.
So, so here's the deal. We have a community member who's one hundred
and fifty percent narcissists. He's been thrown off the board twice. The community
has voted to restrict him from being on the board for three years. He
has some little website that mimics our HOA and he's said, now, what
kind of a community is this? Is it a condo, town home?
Single family homes? What single family homes is about eighty five eighty seven homes?
Very nice community. And this guy writes emails to the boards, to
our lawyers, to our management company that we had a management company quit us
because of the numerous demands that he was making on them. They said they
can't afford to keep up with us, so they quit us all because of
this guy. Yes, and nobody wants to participate on committees and boards and
more, because nobody wants to get in the dated and demonized by this guy.
Come on, is he that bad? So? Hold on? What
does he do on his website? He writes all a bunch of crapt misleads
the community. I don't know if any hardly, maybe a few people read
it, I don't know. But with misinformation, lies and slander on our
board members, our community members. Okay, let me ask you something.
Can't the guy just be ignored? That's what we're doing now. But he's
also called the sheriff on me numerous times. Does he live right next to
you? No? No, he lives around the corner. And he's accused
me of stalking him. He's accused me of reading his email office computer in
his office when I walk my dog behind the open space behind his house.
And he's also okay, let's talk about this guy. How old is this
guy? He's forty seven, around forty seven fifty? Is he married with
kids? Married? Single? Married? No kids? So here's the thing.
Is he violent? No? Okay? What is his deal? What
do you think is he mentally ill? I mean, what do you think
is going on? Yeah? Oh, he's he's a narcissist. I mean,
well, I mean that's a popular term. But what do you mean?
Well, he like he blames everybody, and he creates problems. We
have a drainage area with a hardpan cement, and he wants us to the
community to raise funding for when the heartpan breaks up in twenty to forty years,
so we have money for it to be repaired. How long has he
lived there since inception of the community about two thousand and seven them? And
have you lived there that long term? I have also been on the board
too. Has anyone ever tried to just talk to him? Is it possible?
Yes? Uh, you can't. And then but what do you try
to achieve? I mean, what's I don't even know what I'm saying?
Is ira? What is the what harm is he doing? Well? He
demonizes the community to demonizes But give me a specific example of demonizing the community.
Uh, community, the just hundreds of pages. He demonizes the community
by telling the community that the board is maliciously produciary, being irresponsible and okay,
irah, listen, listen, he's a crank pot. Okay, so
right, but he has a right to be a crank pot, absolutely,
But lying and misleading and slandering. Well, hold on, no, no,
no, no, you have a right to lie and mislead as long
as it's not commercial endeavors and as long as it doesn't do civil harm to
someone. So are there damages created? Don't tell me people are just pissed
off. Are there actual damage? Does he make actual accusations against people that
are damaging? Well? Yes, give me one example, just one,
Just give me one example. And Ira, I'm not making you the enemy
here. I need to know. I need to have some solid stuff here.
He wrote in his blog that I personally am as a as a stalker
and I'm stalking him and his wife. Now, how did that damage you?
Well, I'm a doctor in the community, so how did it damage
you? Though? How did it damage you? I really can't prove any
damage, but it's just h How did he say? How did he actually
say? Did he publish that on his website? Yes? Yes? And
and do you mind? Would you mind giving us off the air so we
don't give this guy publicity the website that we can look at. Oh,
I'd be happy to all right, hold on, I want to do that
before we go on. I want to see I want to see what he's
publishing. I want to see how damaging or how crazy it is. Three
h three go ahead. Well, I mean it's not damaging, damaging.
I mean, you're right there. It's just very frustrating. I think I
don't think as many people do a lot of people read the website. No,
No, they don't. Then why do you care so much? Ira?
He's pissing you off. That's what it is, right, that he's
flannering my name ol soccer and I go spy on him and do I know
it? Yeah, But but nobody's gonna believe it. True, true,
true, So maybe I should just thank you for letting me vent. And
well, i'd like to read. I'd like to before I send you on
your merry way. I'd like to read the website, you know, because
I don't know. To me, it doesn't sound like to me, it
doesn't sound like it's going to be a major deal if everyone thinks he's a
nut. In fact, the more nutty people are. Do you realize the
more nutty people are, the less responsibility they have. Yes, so,
no, I understand, I agree with you, and that's what the community
and the board. But he's doing what he's doing is actually if if it's
untrue, it's libel. That's that's printed. Printed. Slander is is verbal,
so he is basically doing. But I want to see if it is
libist. I mean he can give his if it's lible. I mean,
he can give his opinions even if they're on space. He can't speak fact.
So before we just hold on, I don't want you to hang up.
I want, I really do want to see it because I'm curious what
I would do or what I think about it. There are people like this
in the world that you just got to get along. I mean not get
along. You got to learn to ignore him in some cases seriously. I
mean, I swear to God, if I counted over the years, over
the years that the people who who did that, you know, we'd have
a small city three oh three seven one three eight two five five. What
I want you to do is send that to me and we'll give an opinion.
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companies find out now three all three seven seven to one help. You'll think
you're his only customer when you choose Frank durand the real estate Man dot com
to list your home with Remax Alliance three all three nine two zero sixteen twenty
two. Hi, Tom Martino, your trouble shooter three all three seven one
three talk three oh three seven one three eight two five five. You know,
Ira, I have to tell you something. You are way over reacting
to this man, that this website it sucks. I mean, no one
would ever take the time, ever, other than for entertainment purposes, to
take it seriously. I'm I mean, the guy does nothing but complain every
single day. Nobody cares. You see you care because it's you think there's
some stuff in there about you. I mean that happens to me every day.
I mean, and it happens to anyone. Hey, listen, anyone
who has opinions about anything, you know, especially in the media. What
I'm saying is got to you. Just gotta forget about it. I'm serious.
If you're asking if there's anything actionable here, no, I don't think
there is. I'm not giving you legal advice, but I don't think there's
a prayer's chance in hell or in Heaven that you can get this stopped at
all. In fact, you'll only agitate them more. Right, I agree
there. I think the more you ignore this guy, all of you,
the faster he goes away. Hey, what's the dog biting incident though,
I'm very what happened, Oh, our bylawses there's no pitbulls, and there's
a somebody had a pit bull that got loose and and I tapped the dog
Lucky, just a dog and not a child or somebody. And it looks
like d h A ended up paying out just in legal expenses five grand or
something. No, no, they didn't. That's his opinion. Okay,
no idea. I get you. So the dog is gone, you know.
To be honest, I think it's my disabled military PDSD kicking in a
little bit that gets a little agitated. But may I ask you something?
Does this guy? Is this a self portrait of the guy with the ponytail,
the long gray hair and beard? Yep, yeah, no beard.
Oh, he just says a ponytail. I think that's just a character of
him. Maybe. Okay, listen, man, I mean you got to
forget about this. I totally. He must have literally nothing to do.
But does this guy have a job? I have no idea. I have
no idea, but you're right, that's what the community is doing and the
board is doing. When they receive emails from him, they just say thank
you. Would receive their email and that's it. And they don't engage.
I mean, the guy is just totally He's on it every month too,
if you look at the archives, I mean every single month for the past.
What has he ever tried to run for office? He's been on the
board and he claims he's on the board now because he said he claimed he
self nominated himself at one of our meetings and nobody addressed it. This guy
just wants to get under your skin. Man. Yeah, I know,
I know, all right, but it was nice to talk to you.
And I feel better now getting it off my chest. Well, you know
what, you can feel better knowing that I have no dog in this fight.
And have I read that and thought, you know what, I know
why IRA's upset because this guy is poking the bear and telling the truth,
but he's not. As soon as I go to that website, I think
not right, right, And you know, and I've lost some community relationships
along the way, and I look at it that if this is what you
want to believe, and you're probably not really a friend, So no problem,
Hey, Ara, this this where is in general? Where's this community
located? In general? Up north? How far up north? By Laporte.
Okay, well, good luck to you many. I will never visit
this site again. Well, if you want a good laugh, you can
always. I mean, I think what Mark said is accurate. The guy
has no life, none, zero, right right, right, all right,
well you have a great appreciate it, Thank you, man, I
appreciate you listening. Three oh three seven one down talk seven three. You
know what he could do. He could get I don't want to use the
guy's name, but he could get his first and last name dot com.
Is it? Is it available? I'm pretty sure it would be. I
haven't looked. And then he could have his own website with this guy's name
and then put up anything he wants. He could put up a picture of
a goat. It doesn't matter what he puts up. There's nothing anybody could
do about it. But you know that might get under the other guy's skin.
Spoken like a real shut up. All right, nevermind, parkerwater sucks
dot com? Is it still yours? No? I gave that up years
ago. Wait, didn't you get J Marvin one time just to get under
his skin? Oh? God? Did? I? And I got under
his skin like you wouldn't fullyeve he was a talk show host at one time.
And he was really I thought he was h marryingly funny and talented and
wild. He was crazy. He was, man, did you take Jmarvin
dot com? YEP? I owned it. I wouldn't give it to him,
and he was pissed. It was really pissed. Shannon probably remembers that
Shannon was his board out forever in the day, but that Parker Water years
ago. They probably still do it. If you water your lawn on a
certain day or not on a certain day, you get in trouble. So
they find me, The damn water district find me. So I bought Parkerwater
sucks dot com and I had all the board members and their home addresses.
I was outing people. What do they call that? What did they call
that? When you I was doxing people, you know, in the late
nineties. Same. Aren't you proud of all that? I am? You
know what? All those fines got taken care of, They were gone.
Brother. Anyway, let's talk about this. What is the uh what are
the comparisons we're getting today? Right after this? I want to know because
we're doing an insurance checkup, and I always love hearing about how people are
paying and what they're paying for and how Compass Insurance Group made the difference with
the insurance checkup. After this, go with a sure thing Denver's Best roofer
Excel Roofing dot com. You don't pay a cent until you're content. Time
for an insurance checkup free, no obligation comparison call Compass Insurance paying too much
your coverage at dozens of insurance companies find out now three O three seven to
seven to one help. You'll think you're his only customer when you choose Frank
Ran the real estate Man dot com to list your home with Remax Alliance three
all three nine two zero sixteen twenty two. Hi Tom Martino, you're a
troubleshooter three oh three seven one three talk three oh three seven one three eight
two five five. Welcome to the show. Here to help you anyway we
can. Brian, we were doing the insurance checkup and I and also I
didn't forget we were going to go through h O terms. First, let's
get a couple comparisons. People called in with their decks page and what did
you find and what were you able to do well? I just have had
a few sent over to me from the agents. And here's one of them
that the customer with with Farmers paying forty five hundred on the auto, forty
three seventy five on the home. But when he actually looked at the deck
page, the home was under insured by two one hundred thousand dollars. Oh
my so. And also they're paying nine thousand a year on this Yeah,
for the auto and home, they're paying eighty eight seventy five exactly almost nine
thousand dollars. He has shopped them and found a quote with Safe co where
he increased the dwelling by two hundred thousand dollars, and between the auto and
homes saved them one seven and forty four a year. Can you believe that
not only did you save that much money, but you gave them better coverage.
Now it to be completely transparent. Their new home premium is higher than
what they were paying before, but the auto was saving that much, so
between the two saved money. And besides, the previous premium on their home
wasn't accurate, No, it was under insured. If you had a loss,
they would not be able to rebuild the house. They would be out
of luck. Which is we find that all the time people are under insured
on their home. The one I just learned to mention to you. We've
had three so far today State Farm customers that are being non renewed. Two
of them because of claims they each had to claim this past year, so
State Farm's non renewing them. And the other one is because of the fire
risk. They're in Evergreen and they are non renewing them. And all three
of them are listeners of yours and are really frustrated because they've been all been
with State Farmed twenty flus years. I think it's a blessing they're not renewed
by State Farm. Yeah, but you know, people just have in their
mind. I've been there twenty years. They're going to keep me forever.
In fact, I'm more that you haven't. Thus you're rewarded. Kevin,
your turn. What's going on, Kevin? Yes, sir, I need
some advice. I need you to recommend somebody off your referral list for me
that can do some carpentry work. I've got a front door that's got a
problem. I live in a condo and my situation is I'm almost completely blind.
For me to go on the internet and look on your referral list,
is just about impossible, so I'm hoping. Okay, so you really just
need a handyman. You just need to adjust your front door. Is that
it? Well? Yeah, the the front door starting to drag and the
condo unit I live and I live on the ground floor, and apparently the
foundation for this building is kind of moving and so it's causing problems with the
doorframe and the door. So I need somebody that knows about front door.
What area are you in? Oh? I live in the western part of
Centennial used to be Littleson. Okay, So other than your front door,
what else? Oh, that's really the only the only thing Handy Hub that's
easy. Handyman Hub can handle that. They're good people. Do you want
to just do you? Do you want to take down the number right this
minute? Oh? Sure, yeah, I've got a pencil right here.
I'm going to write it down as soon as you give it to me.
Now, out of curiosity, you said you're blind. I was going to
ask that same question, how is that pencil helping you? I'm just curious,
man. Well, I have a tiny bit of eyesight left. But
you know, if I write with like a magic marker and something dark,
I can manage to see it with a magnifier. So handyman hub here it
is three h three mm hmm four to seven mm hmm two nine five five.
Okay, okay, great, let us know how that works out for
you. Please, Okay, thank you very much, Tom. And I
mean that I'm not just saying that. I may Hey, I want to
know every bit of it. What's that Mark? He thanked you, but
I'm the one that said handyman hub. Oh, thank you very much.
Mark, You're welcome. Yeah, his ego needs stroking because uh never one.
Well, I'll put you on my blog. Yeah, Mark's gonna start
a blog Tom Martino dot com. Except I already got that to protect myself
anyway. Three oh three seven one three talk. And by the way,
speaking of URLs, you almost have to buy URLs nowadays for a safety I
don't know if you did, but yes, I got my name, my
kids names. Hey, how about that new one I got? Wow?
Is that a good one that was still available? Yeah? There are still
some good ones available though. It's amazing. I'm trying to find a name
for a piece of technology I have that I'll be launching, you know,
that investing thing. Mark I'm going to tell you something. So I look
at company names, you know, AI names, company names of software names,
program names, app names. Okay, this is just a side note.
This is amazing. And I see a lot of of them are weird
names, right, and I think are they made up words? Many of
them are not. Many of them are either Latin, Greek, Sanskrit,
I believe in an ancient language, or some of them are combinations of those
and Norse folklore and all of that. And almost every single name that is
short and easy and easy to pronounce and rolls off the tongue, it absolutely
positively has been taken for something. Now, there's something called brand confusion.
So let's say I want to give this name something for my financial company,
and the other company is clean Sewers. You can do that, right,
you can do that. There's no brand confusion. But in most cases,
guess who's taken these names? Mark, guess who's taken them? All AI
companies, dot AI, I am There are more, do you see?
We just know about the big players, the Googles and the the AI,
the Open AI and all of those. But what we don't realize is I
counted, at least in my search for names A thousand Ai chat spots.
Do you know that A thousand, a thousand, a thousand, and there's
probably more, and they all have names. So I am always fascinated when
people can find a unique name about How about this ready, tot dollar,
tot dollar that means many dollars in Latin. When you said Latin, Oh,
I'll bet you it's taken. That's what. No, it's there,
I'm looking at it. Tot dollar. Yeah, but I don't like the
way it sounds tot dollar. But Mark, you're right on the vein that
I was doing, by the way, with the Latin and the and I
went to chat Ai, you know, a chat gpt, you know,
to come up with Norris names for this, or Latin names for this,
or a Sanskrit. Sanskrit's very interesting. A lot of companies based their names
on Sanskrit. I don't even know what that actually is. I've heard it,
of course. It's just an ancient language, that's all. I mean.
It's just I mean, was it was it Christianity? I don't think
so. Christianity was mostly Greek and it was one of the first civilizations.
I heard. He learned it in school. Now, yeah, well Tom
was back there. It was in the Fertile Triangle by Mesopotamia where they were
sanscrit originated. It is even pre Egyptian kaye and Egyptian is another cool language.
A lot of these things. Some of them take Chinese names, uh
and or but any existing name, like you know, if you wanted to
like take tsunami or you want to take something that's just cool sounding, it's
all used. I mean, it's amazing how much is taken it. Intellectual
property right now must be very difficult because now again, because if there's no
brand confusion, you can have different companies using stuff. For example, Blackrock
Financial, which is somebody that I researched a lot, they have their evaluator
of companies called Aladdin, and that's pretty damn cool, right, But Aladdin
is so common. It's a genie, right, and Aladdin is used a
thousand times, but for them, it's their evaluator, and that's a fascinating
company. Black Rock was the first one to really aggregate all of the or
not agree, but gather all of the companies together and give them ratings.
And those ratings prove to be accurate when it comes to investing. Then he
went one step further. This is amazing story. He went one step further
and then started social engineering. And what they did was when they liked companies
for their agenda. They have a social and political agenda that you know,
the ESG thing. They're a big believer of this. So if a company
is not big into ESG the environment and I forget what it stands for,
what they do is they give them a lower rating than the ones who are
ESG compliant, and that has severely impacted the capital they raise and investment money.
So by doing that, no laws had to be changed, nothing had
to be regulated. But companies voluntarily have been doing the ESG thing. And
now the same thing is happening with DEI diversion equity and inclusion. There's been
a lot of lawsuits. So because I mean, to the stockholders, the
number one thing they're supposed to do is make it money, right, Mark,
You're absolutely right. However, forever there's been conscientious investing. I mean,
I remember socially conscious funds. When I was investing with an advisor and
I would tell her specifically, I want none of this or none of that.
No excuse me, animal testing, no nothing, certain things I didn't
want back then, and I would not allow my money to be invested in
this thing. So that's just an extension of that. It's just that people
have gotten crazy. But here's why I often wondered, why are corporations,
why are they taking woke agendas and appealing to that in advertising and in employment
and all of that. And again, there's nothing wrong with diversity, equity
and inclusion. The principle is wonderful. But what I'm saying is, but
then they go a step further, like, for example, why are they
taking social and political stands? When Mark said accurately, I invest my money
to make money. I don't care what you think. And by the way,
who is you? You is a corporation? You know you are people?
You are stockholders. You can't possibly speak for each and every stockholder.
Do you speak for the board of directors? Do you are you basically saying
then that that's the only kind of stockholder you want. So the whole Wope
thing is crazy when you try to make it applicable to a corporation. But
the reason they're doing it is because of Aladdin, because they're going to get
poor ratings if they don't, so they're trying to please that master. You
would be shocked at the power that Blackwater has. It's an amazing the largest
fund in the entire world. And that's one of the reasons. So we
got more coming up. By the way, Ladd was go with a sure
thing Denver's best roofer Excel Roofing dot com. You don't pay a cent until
you're content. Time for an insurance checkup free no obligation comparison call Compass Insurance
paying too much your coverage at dozens of insurance companies find out now three all
three seven seven to one help. You'll think you're his only customer when you
choose Frank durand Thereal estate man dot com to list your home with Remax Alliance
three all three nine two zero sixteen twenty two. Hi Tom Marsino here three
oh three seven one three talks seven one three eight two five five. All
right, So now, Brian, we have another hour to go, by
the way, and we're still taking and as I said, the insurance check
up three oh three nine niney six nine thousand. That's nine nine six nine
thousand and uh. Also, we're gonna take your calls on problems, questions
and complaints of any kind if you need consumer help. But let's talk about
the AH shows. Now I never knew what that meant to. But homeowner's
insurance go through them? What Why are they designated as h O h O
Obviously that's for homeowners insurance? But what number? What do the numbers mean?
Can we go through them? Yeah? And I don't want to bore
everybody, no, but it goes I think it's educational. Go ahead,
It goes from one to eight. Show on one is something you would never
run end to it. But it's a very limited type of homeowner policy.
It has basic perils covered. No one writes it anymore. It's it's a
really anniquated type. It's the most basic, got it? Yeah? Two
two is one step up from that. Again, nothing you're gonna see.
I don't know anybody that writes in h O two. The most common is
h O three. That's going to be your homeowner's policy where it's uh,
do I have an h O three? You have an h O five?
Okay, so let's go. Why is h O three most common? What
is it covered? H O three is open perils meaning that everything is covered
except for what's excluded for the dwelling. But the personal property is named perils.
It's not open perils, it's name perils. It names what is covered
on the homeowner policy. Four damages causing cause to the personal profit. So
that's h O one, that's h O three, Yeah, hey, h
O one two and three? So far right, Okay, we're gonna go
over h oh four and how far does it go up? Eight? But
really, the only other ones you're going to run into is four five six.
No, I want to know about those coming up. I'm Tom Martino
three oh three seven one three eight two five five. Go with a sure
thing Denver's best roofer Excel Roofing dot com. You don't pay a cent until
you're contenth time for an insurance check up free, no obligation. In comparison,
call Compass Insurance paying too much your coverage at dozens of insurance companies find
out now three oh three seven seven one help. You'll think you're his only
customer when you choose Frank durand the real estate Man dot com to list your
home with Remax Alliance three oh three nine two zero sixteen twenty two dud news
needed by so you don't have come running as fast as we can. Shooter's
gonna help come. This is the Troubleshooter Show. No Tom Martino, Hi,
Tom Martino, Welcome to the show. Three oh three seven one three
talks seven one three A two five five. As we do every day,
we try to help people. We try to recover cash, merchandise, exchanges,
refunds and services. Over the years, hundreds of millions of dollars for
people. Kent wants to talk about ten thirty one tax free exchanges. Whatever
you want to talk about, give us a call. We love helping you.
So if you want to call, it's three oh three seven one three
talk. You can also call three oh three Martino three oh three six two
seven eight four six six. Uh, what's going on, Kent? Well,
I'm wondering. Is it pup to do a ten thirty one exchange without
a qualified intermediary? Yes? Of course. Well no, wait wait,
wait, wait no, you you have to have a disinterested third party.
I'm sorry, you have to have that. So I think I read that
they're not licensed and there's not any real regulation on them. How do you
keep from right? That's right, You're in a bad situation. Okay,
how do I put this, well, you don't. You know, technically,
what you're doing is you're letting that third party. If you want to
buy something that the other party is interested in trade it, you need a
third party to do it. The answer is how do you do it?
For example, let me for people listening, a ten thirty one exchange,
simply the delays or defers your gain into a like property so you don't have
to you don't have to pay tax on it. So if you simply had
an apartment house, yeah, if yeah, I'm sorry that the fur is
the game, which is the tech, which is taxed. So what you
do. What you do is you take the if you want to buy an
apartment house and you have an apartment house, you have to buy an apartment
house that's more expensive, and then that apartment house becomes your old basis is
put into that one, and that apartment house becomes that much more of a
basis for when you sell. But in any case, in order to do
that, you would have to find it without a qualified intermediary. You could
do it, but you would have to find someone who wants to trade you
straight across. So if you want, you could do that, right.
So, but most of the time. That's not the way it is.
Most of the time, you want to trade something they don't want, so
you have to find someone else who wants to trade that for something else that
that other person wants. You have to It's really juggling, and that's where
the intermediary comes in. And as far as I know, there is no
regulation. But there have been people just like anything, just like, how
do you find a qualified attorney? How do you find that? That's basically
you're asking the same question without but but attorneys are regulated. I see what
you're saying. They are regulated, so you know you're getting someone who's been
trained. I don't know the answer other than reputation, you know. Uh,
have you done it? Yeah? M hm, I have? And
did you I use somebody local or some Yeah, I use somebody. I
use somebody local, Yes I did. Now I've had it happen both ways.
I've had it happen where I used to qualified mediary whatever you call them,
anyway, intermediary to do an exchange for something I wanted. Then I
had somebody approach me and they were from Canada and they used one to buy
something from me. It didn't affect me at all. I got ultimately what
I wanted, but I had to go into that intermediary first, and then
that's how they're not that complicated, but they can be. What do you
have exactly? Let's talk about that. I have a townhouse that I want
to sell and buy another property on the western slope. Okay, so what
do you have here? What is it worth? A townhouse? Probably four
hundred? Is it? Is it a residence? Yes? Yours? Yes?
Well, you can't do that property. It's an investment property, a
rental and I'm going to I want to say, oh, okay, that's
what I wanted to know. It's a rental property, and you want to
trade it for another rental property on the western slope, right, and that
one on the western slope. Are you going to live in it or is
it going to be a rental property? Well, it'll certainly be a rental
for two years because you have to That's right, That's what I was going
to say. If ultimately you want to live in it, that's fine,
but you have to do a kuala. You have to do the ten thirty
one exchange like for like in the beginning. So I guess the other thing
I was wondering is if there's somebody, if you know of people here in
Colorado, Donna, I'd look online and all you get is you know people
in national numbers, and I don't know. I don't personally know anyone right
now. I used to know someone who did them for me. He was
really good at it. He was an attorney first and foremost I would get
an attorney. Let's put it that way. Okay, you know what,
Let's ask Brad O'Brien if he knows it or if he does them. Okay,
he's an attorney we use as our real estate experts, so let's call
and ask him about ten thirty one exchanges. And I also was wondering what
kind of cost should we have? How much should it cost? Well,
I mean that's all negotiable, but as I remember it, it wasn't that
expensive. I mean, they charge a fee, but it's it's like it's
and it's less than a real estate commission. But it is a fee based
on the value. Okay, it's not a flat fee. As I remember
again, I haven't done it in so many years, but I want someone.
Are there any qualified intermediaries that you came across in Denver? No,
you have not come across one. Well, and I haven't. I haven't
looked terribly hard. You're kind of easy to go to, you know.
No, No, no, I know that. So I'll tell you what
first. Let's start with our attorney and then let's find out. I believe
some CPAs do it as well. And if that's the case, you're protected.
See because while to be an intermediary, you don't have to pass a
test to do anything, but if they're already a qualified professional, like an
attorney or you know, an accountant, a CPA that is, that wouldn't
be a bad deal. That wouldn't be a bad deal. Now, these
ten thirty ones i'm finding right here. Oh no, you're right, they're
long distance calls. You're right, and they're not they're not really local.
They're not. They say they are. They call themselves a local name,
even like ten thirty one exchange Colorado, but when you drill down, it's
not Colorado. Correct. I did find one that's called Oh, entitled companies
sometimes do it too, you know. Oh yeah, So hold on a
second, I'm gonna tell you what I'm gonna do. We're gonna call Brad
O'Brien O'Brien Legal Services. I also want to call Atlas, CPAs and Financial
Advisors. They are on my accountants and are experts here on the show,
and let's ask them if they know of any or if they do it.
You know, hang on, so I've got to work cut out. Call.
What's that? Mark? I found a big one one oh three one
X dot com that's right in Denver and they've got like three hundred four star
reviews. Yeah, ten thirty one. I saw that ten thirty one X
and is it ten thirty one X dot cam They're right on Hampden Avenue,
And I mean, I'm they just got one five stars in a lot of
I wonder if we Mark, can you call them to see if you can
get them on the air. Yeah, I'll give them a shout right now
during the break. Let's do that. Let's just go right to them and
ask them about what they do and how they do it. Three oh three
seven one three talks seven one three eight two five five more. Right after
this, go with a sure thing Denver's best roofer Excel Roofing dot com.
You don't pay a cent until you're content. Time for an insurance check up
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help. You'll think you're his only customer when you choose Frank durand the real
estate man dot Com to list your home with Remax Alliance three three nine two
zero sixteen twenty two. I'm Tom Martino, and we are going to get
someone on to talk about ten thirty ones exchange ken If all goes well,
so hang on, but I will just want to briefly explain this, okay,
And here's how they work. You find an investment property you want to
buy. In this case, you want to buy a single family home or
a town home that you want to rent out. You find that property,
okay, or you know, actually I'll have to find it first. You
want to sell yours. You sell yours. That money that you make on
it, you do not take possession of it. It goes to a qualified
intermediary. That intermediary holds that money, and then you have about forty five
days to identify another property. Then within forty five days, you identify that
property, and that replacement property is purchased by the qualified intermediary by transferring to
proceeds to that other property, and then the end result is you end up
with the property you want, but you've actually traded it. Kind of it's
weird, but they allow it, you know, since the net result is
exactly the same as just selling. If they should really let people sell it,
take the money, and if you buy something else within forty five days,
call it and there's no difference except they're making you find someone and pay
them money. I don't even understand why they make you go through it,
because having that qualified into mediary, if you decide, if you didn't identify
a property and all that they're saying, you'd end up losing it. So
by using a qualified into mediary, they're forcing you to do it. Whereas
I think what would be wrong with giving someone the choice. You could sell
your property. If you find a like property within forty five days, call
it good. If you don't, you pay tax. So I don't see
why they go through the conniptions of work, of finding, of needing and
intermediary. I've never understood that. Okay, by the way, on HA
one is most basic. They don't even sell them anymore just basic perils.
HA two is just the next basic what is most common as inn HA three
and an ho acues me an HO three and h O three is open except
for exclusions, open peril with specific exclusions. And then then on personal property
the named perils have to be shown. For the personal property Hua excuse me.
H O four renters. H O five is common for open perils on
both property and and the dwelling and personal property are both open perils. Yep.
Okay, that's the best policy available for homehood. Okay. Then h
O six is for condos. H O seven manufactured homes do you even write?
Do you write the mobile homes? Do you write those? Uh?
Not very common, but we yeah, we have some. H O eight
is when you live in a historic property where it's impractically rebuild it would be
costs more than you would ensure it for and more than the property, so
you kind of get an actual cash value policy. That's it. Yep.
And those are those, and then keep the calls coming for the insurance check.
Ops. Do you have any more examples before you leave? Yep?
Yes, leave early, go go ahead, yep. There's one here that
came in. It's a current customer with all State. Again, he was
telling us what he had, but then we had him send over the declaration
page found out he actually has actual cash value on his roof. He had
no idea. So what that means is whatever the roof is worth at the
time it is destroyed, is that's the only amount he gets. Yeah,
I know, it's a twelve year old roof, so he would be responsible
for almost half the cost of a new roof, and then his deductible is
applied, so it's that's the starting point is half and then subject to it,
so he only gets half coverage minus his dec That's right. So once
we were able to explain that to him, he said he would rather have
replacement cost, and so we found an option with a company called Acuity for
auto and home. It has a twenty five hundred dollars deductible is what he
had chosen to go with, and it's saved them a thousand dollars between his
auto and home a year. That's really incredible. But where it really comes
into play is if and when he has a claim, he'll be saving about,
you know, fifteen thousand dollars because of that. The fact that it's
not actual cash value anymore. What can I ask a simple question? Why
are you able to save money most of the time? For people? Why
is it? Well, I'm giving you the examples where we did save money.
There's time for we people will call and we'll tell them, you know
what, what you got is good. But even on situations like this,
we don't always save money whenever we're able to do that, but we're able
to tell them, hey, you have actual cash value on the roof,
so is that what you want? Do you know what you have? And
you know, more times than not they have no clue and they're willing to
spend more if they can get better coverage, So we at least give them
the option. We try to explain what they have and if they're happy with
what they have, we can quote it around that way and if we save
the money, great, If we don't, we'll tell them all right.
Someone else wants to know. What about what's considered a vicious dog? Or
why are some dogs premiums? You pay more? Yeah, and I will
tell you. Most carriers are going away from a dog list. It has
always been that insurance companies have a list of dog breeds that they just won't
ensure pitbulls, Doberman's. These are you know, a couple example Akidas.
These are examples of dogs that would be on that list. Most of them
are now going to if there's prior bite history, they won't take it.
But they're going away from this list of dogs. There's still some that have
listed dogs. But why because the statistical evidence is that those dogs bite,
and not only do they bite, they cause more damage when they do bite.
Now, Dragon, don't hit the delay button. But what he's saying
is there's no more sheets list. Ah, that was a joke. Three
all three seven to one to three dogs seven with three eight, two,
five to five. I think we're gonna have somebody coming on for the UH
ten thirty one exchange, and I'll do it after the break to give people
more time to talk about it, because really I often wondered about intermediaries and
how people what are the consequences of a ten thirty one exchange if you don't
identify the property, can you just call it good and pay tax you get
your money back, or how that works and how they base fees in the
ten thirty one world. It really is a good question. So that's something
we're going to talk about coming up three oh three seven to one, three
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Frank durand the real estate Man dot com to list your home with Remax Alliance
three all three nine two zero sixteen twenty two. Hi Tom Martine, your
troubleshooter three all three seven one three talks seven one three eight two five five.
By the way, I want to mention that we do have an expert
on for ten nine excuse me, ten thirty ones. And that's really cool
because UH I used to do quite a bit of business with one, and
I have not done that in a long time. So I'm glad to meet
Sean Ross. He's with UH ten thirty one x dot com ten thirty one
there. You are located here in Denver, so kent you mind to listen
and then I'll have you ask a question. But Sean, I want to
ask you some basic questions first, real quick here, okay, thank you
for being here, by the way, on short notice, on a ten
thirty one, I often wondered why, Let's just say I rent out a
townhome and I want to buy another town home and rent it out somewhere else.
So I often wondered why I can't just sell that town home and the
government gives me forty five days to find another one, and if I do,
then I can defer it, and if I don't, then I pay
tax. Why do I have to have a qualified intermediary? That's a good
question, And the short answer is because they say you have to. But
as a longer answer might be something like, in order to not recognize taxable
income after the sale of a property, the never says you can't receive the
money. So to not receive the money, you need some other entity in
between to create legal distance between you and your sale and you and the consequence
of your sale, which is the receipt of the taxable proceeds. So the
IRSK you work with an intermediary then will say, you know what, it's
not really a sale. You're continuing your investment, and we won't consider you
as having received in the income. Now, when you get those proceeds and
it goes to you, the qualified intermediary, what I'd like to know is
what if I don't find a property in the allotted time, do I lose
that money or do I simply pay tax on it and get the rest?
Good question. There's no penalty for starting an exchange and failing to complete it.
In fact, the IRS would never even know. There's no way to
report an incomplete exchange. So once the funds leave the closing table and go
into the ESCRO account with your qualified intermediary, if you don't complete the ten
thirty one, you just get the money back as if you never tried,
and you declare the income and pay taxes again as if you never tried.
Okay, So once the money is deposited with you, I've sold my town
home, you get the money I find the next property. Does that property
have to be more or less than my previous property? The good question.
It's a good idea for it to be as much or more, but it
doesn't have to be. It's possible to complete a ten thirty one exchange into
any type of real estate at any value. Just a question of how much
tax deferral do you get, and if you want to defer all of the
taxes that would have been doue upon sale, you want to make sure the
replacement property is worth at least as much as what you sold. Oh,
very interesting. So once I do this, though, and I sign up
with you to do this, you don't actually take ownership of my town home
and sell it. I sell it? Is that correct? That's right?
That's right. And it can get a little bit confusing with the way that
the language reads when you sign a contract with your intermediary and the way it
looks on the closing statement. But no, our job is not to take
possession of any properties or to go find any properties for you or any other
investor. Our job is just make sure that when you do that, it's
structured in a way that the irsiview is valid. But everything otherwise is still
taking place as if we were there. Sean Sean, can you visit like
property real quick? Yeah? Like kind is a pretty I would say,
almost a misleading term, because a lot of people assume like kind means that
it's used the same way or it's the same kind of structure. But really
like kind just means that it's used for business or investment purposes. So you
could trade out of raw land into a skyscraper. You could change out of
a single family to a multifamily. You could I used to say, you
could trade out of oil and gas rights into Yankee Stadium if the math worked
out right. Now, you know, I never knew that that is really
good stuff, Sean. Next question about like what about do corporations ever trade
aircraft or yachts or cars anything like that? Used to happen all the time,
all the time until twenty seventeen and twenty seventeen the Tax Cuts and Jobs
Act eliminated ten thirty one exchanges for everything other than real estate. But oh
used to be very common. But they're not exchangeable assets anymore. Tom,
Okay, that's great now. As far as the uh, finding the like
property when I find it? Does it ever turn off sellers because I'm coming
to them with you? Sometimes? Yes, And this can get a little
tricky because a lot of people assume introducing a ten thirty one means introducing either
complexity or cost. And for the seller, if you're the buyer coming with
your exchange funds, the ten thirty one has really no impact whatsoever on the
seller, but they don't always know that. What we usually recommend people do
is to not disclose that a ten thirty one is taking place until you get
to the closing table, in which case our company will provide a note to
the seller because, by the way, this is an exchange and it doesn't
effect to you in any way. Please sign here saying you acknowledge that it's
very common to have a notification sooner than that, but it's not required,
okay. And then qualifications. That was his original cull Kent wanted to know,
how the hell do I find intermediary that I know is going to do
the right thing. I mean, listen, are you're not red talk fees
real quick? How does it generally? Well, we'll do that. I
want to talk qualificate. We will do that. Mark qualifications, Sean,
Yes, are you regulated lightly? And this does vary state by state even
though it's a federal law ten thirty one exchange. So after the two thousand
and eight crash, a couple of QIS went under, some very infamously and
some in Colorado, some people ran off with client funds. It was a
big scandal. But compared to most other financial intermediaries, ten thirty one exchange
companies are very lightly regulated and we're not licensed outside of the state of Nevada.
So instead, what you have to rely on are things like recommendations better
business bureau. Are the member of any professional associations? Who do they bank
with? What guarantees do you have? Are they bonded or ensured? All
of that is very important to make sure you're working with somebody that you can
trust. Now, what about fees, as marc as, Yeah, is
it based upon the price the complexity? What another good question, and it
really does vary across the industry. You'll see example, it'll be a percentage
of the value of the property, or maybe the fees will go up and
down based on the number of deals or the value of what's being bought and
sold. In our case, we charge a flat rate, doesn't matter the
deal size, type, or location, and that flat rate fee will come
out at the time of closing like any other broker, commission or settlement fee.
And do you mind saying what the fee is. No, we charge
a flat rate of nine hundred and fifty dollars per exchange, and that includes
the sale transaction and the purchase transaction. I don't even know how you can
afford to do it at that Actually, yeah, I don't know either.
That's cheap. Well, the good news is in this industry there's not a
ton of overhead, and with enough volume and the right experience, you can
do things pretty efficiently. Now, what is your background personally yours? Yeah,
so I've been with this company for seven years. Before that, I
worked for a financial publication that specialized mostly in distressed assets, targeting attorneys and
CPAs, and before that I was a financial advisor. Okay, so you
pretty much have a good background in finance, Kent. I do want to
ask him one more question, because they are holding that money for a period
of time while you're finding that like property, or if you already found it,
for at least a day. But how do you bond? What does
your company do? How is someone sure you're not going to run off with
the money. That's a good question. So the banking relationship is very important.
We work with primarily two all of the other banks only two banks,
Capital One Bank and Bank of Colorado here locally to save out the funds,
and of course you get the FDA. I see protections there, but you
should carry additional insurance on top of that, both for internal errors and omissions
that might happen on our ends and for the risk of especially in these days,
wirefraud and cyber theft are huge problems. You should carry additional insurance on
top of what the bank provides in case some third party to something that farious
when the money is changing the point from closing table to bank. Okay,
Kent, since you called originally, do you have any questions for Sean?
Now? This is really good information, and I do have one about the
insurance. Who do you where do you get that insurance? Who would you
talk to about that? Well, think he's talking about the intermediary has the
issues, Sean. He's saying his company has that insurance. And what I
would do, whether it was Shawn's company or any other company you end up
dealing with, just like a contractor, I would have them provide me proof
of that coverage. Right, you should contact the intermediary and you should say
how are my funds safeguarded? And that's not just about insurance, although insurance
is very important, it's also about what are your safety protocols? How can
funds get released? So with our company, we can't move funds in or
out of our client accounts unless our client signs and gives us verbal authorization to
do so. And so without that, the bank won't Our banks won't let
us move money without that. And that's also very important. That is very
important. And it's kind of weird because it does kind of give you control
over proceeds. You would think the IRS would think wait a minute, but
hey, if you're doing it, it's a safety measure for consumers. I
like it. My only other question. My only other question would be,
I guess this is all done electronically. You wouldn't because I'm in northern Colorado,
so I wouldn't need a representative here. It all be done electronically.
Yeah, that's right. In fact, we were sort of doing our wax
on wax off impersonation pre COVID on this and did everything digital, probably around
twenty seventeen twenty eighteen. But everything could be done from your phone or from
a computer. We have clients nationwide, we have international clients. You don't
need someone personally to go visit any office or sign any paperwork, do you
guys? So basically, if he wants to use you, Sean, he
just calls up the number. We'll give it out at the end. But
he doesn't have to show up at your office in Denver. He doesn't,
although he's certainly welcome to Now. I want to ask about the business in
general, Sean ten thirty one exchanges? Are they higher than they used to
be, lower than they used to be? About the same? What's the
trend? I would say the first couple of years post COVID, there was
a real boom in the industry. There was a lot of cash flown around
and industrates were still very low and there were a lot of gains to be
captured and transferred over. Since interest rates started climbing and real estate transaction volume
in general has load, we've seen a bit of a slowdown in the industry
across the country. This is not true everywhere, but regionally, it certainly
is true in some places. And what we're seeing right now is the prices
still haven't quite adjusted for the increase in rates. There's a lot of cash
waiting on the sidelines, so it's probably a little bit slower than normal.
Right now, all right, thank you very much. That he's a CEO
of ten thirty one X ten thirty one x dot com, which is an
awesome website. I can't believe you got that you are three zho three five
zero four zero one four to four is their number. Thank you for being
here, appreciated, Ken. Thank you for bringing up the topics so we
can educate our people more. Coming up, Go with a sure thing Denver's
Best roofer Excel Roofing dot com. You don't pay a cent until you're content.
Time for an insurance check up free no obligation comparison call Compass Insurance paying
too much your coverage? Dozens of insurance companies find out now three oh three
seven to seven to one help. You'll think you're his only customer when you
choose Frank durand the real estate Man dot com to list your home with Remax
Alliance three oh three nine two zero sixteen twenty two. Hey, I'm Tom
Martino. You're a troubleshooter three oh three seven one three twelve. Oh.
I that guy had a question, but he's he's off now. So we've
learned a lot of good things today on the show, and I want to
remind you the Insurance Health Center is still open at three oh three nine nine
six nine thousand, doing comparisons of insurance, and it's really important. One
of the biggest deals is not being underinsured. You can end up in a
big problem. Now. A lot of people feel under insurance only hurts them
when it comes to total losses, but not true. If you're sadly underinsured
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forty percent under insured, they will take thirty or forty percent off the
roof clean. So under insurance penalties are massive problems because in addition to your
deductibles, you have loss of coverage. And a lot of people do not
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home, and that is one of the biggest problems people have with insurance.
Three oh three seven one three oh. I don't know why I'm giving out
that, and I'm roll give about this number because when we go off the
air, you can call it. You can call it twenty four to seven
and get help for anything you need. At three oh three Martino three oh
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