|Local Real Estate Scam
|Below is an email LovelandPolitics
received from Marty Hutheson after
inviting him to present his side of the
RE: Shepherd Online Contact Form
From: Marty Hutcheson
Hide Add to: To Do, Calendar To: guchwale
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
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
|Email Sent To Marty Hutcheson's
Webpage after several missed phone
calls and email exchanges:
Sent: Thursday, June 09, 2011 5:15 PM
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
1. How can you represent and lease property
owned by others without a valid real estate
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.