Local Real Estate Scam Continues Unabated |
Below is an email LovelandPolitics received from Marty Hutheson after inviting him to present his side of the story. RE: Shepherd Online Contact Form From: Marty Hutcheson <martyhutcheson@comcast.net> Hide Add to: To Do, Calendar To: guchwale <guchwale@aol.com> Date:Mon, Jun 13, 2011 9:36 am I will address these few questions but would still like to talk to you so we can make sure everyone is on the same page. With the way real estate is right now we are not pursuing any more properties for our program at the moment, so it might be a mood point, but would still like to have my side of the story represented. 1. The Colorado Real Estate Commission told us years ago that IF we were only representing our clients (people who bought investment property through us) we did not need a real estate license to manage that property. But IF we were to run a full “Property Management” operation we would need to do that under a Managing Brokers license 2. The advisement from the attorney who wrote our contract (same attorney that writes all the Colorado Real Estate Commissions contract) was to open a LLC for each property. I leave that up to the owner of the property. It seems that everybody has a different opinion on that and I let the owner of the property take care of that through their CPA or Legal Council. They all have different opinions of how that should look. But yes our tenants are fully aware that the payments are being made to a LLC. The only exception would be when a “owners” CPA or legal council says they don’t need or want to do it through LLC, then the payments are made directly to the owner. Our contract is approved through HUD so many times our tenants can do a FHA loan just using the Lease Option contract. As I said I leave that 100% to the owner of the property. We have a tracking system that allows us to help the tenant create a mortgage history to help them secure permanent financing ASAP. 3. I would like to have my comments in the story but would like to talk to you before. You have formed an opinion on one deal that didn’t go the way it should have. We addressed the issue and took care of it MORE than we needed to. Poudre Investments refunded the customer as did the LLC. The tenant had not been honest on their application and actually did an exact same deal with a different company upon us paying ALL of their moving costs to their new location. It would be nice if you could see ALL of our deals and see the people who have been honest with us and we have been able to help. Appreciate the opportunity you have presented Marty |
Email Sent To Marty Hutcheson's Webpage after several missed phone calls and email exchanges: From: guchwale@aol.com Sent: Thursday, June 09, 2011 5:15 PM To: martyhutcheson@comcast.net Subject: Re: Shepherd Online Contact Form 1. Dear Martin Lee Hutcheson: I have tried to call today a couple times and just got voicemail. I was out all last week so that is why I didn't call you earlier. Here are a few questions I was hoping you could answer - 1. How can you represent and lease property owned by others without a valid real estate brokers license? 2. I noticed you continue facilitating leases with people that are not in the name of the property owner but instead an LLC is named as the "landlord." – do the tenants know the property owner isn’t signing their leases? 3. Is there a paragraph or comment you want me to include in the story in general? – please send it and I will include your side of the story. Thanks |
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