Property trading

Chad Simons from melbourne does it very effectively although he does have his Business Partner based in the US which helps.

Cory

I am sure there is 2 sides to every story. Maybe Chad will post a response.

I know i have financed dozens of clients in the US that have purchased through Chad and are very very happy.

Cory

Funny spoke to him earlier this week as we have just had another loan approved for a client of his buying over there and no problems then.

Now if you had problems with another forum advocate of San Antonio and Buffalo then i could understand why.

Investor friends,

                    Just wanted to chime in on this issue which  Mr. Robertson is addressing. I also want to make it very clear that I do not intend to use this forum as a place to have a back and forth on this issue. Infact myself and Chad intend to make two posts on this issue and then that will be all. (we want to make these posts so that investors can see our side of the story and know that the claims being made are off base)

So now you may be asking who am I?

My name is Brian Payton and I am Chad Simons US based buisness partner. Alot of aussies who have done transactions with us know very well who I am. Those who dont "Hello" and hopefully we will be working together soon.

Now onto this issue I wish to address each issue that Mr. Robertson has raised so that Investors know they can work with us as we are a company of high ethics.

1. (We have had nothing but trouble with this house. It was ment to be a flip but we did not get even close to what we were told the place was worth)

        The home that Mr. Robertson worked on was worth and still is worth 95K Mr. Robertson decided to put a tenant into the building so he could sell the property to an investor. He recieved multiple offers on his property from our wide arrray of investors. HOWEVER they are INVESTORS I have yet to meet the investor who pays FULL PRICE for a home. If you folks in this forum know of that investor please send them my way!! (Also we make it very clear what "retail" values are meaning what a home is worth if you sell it to someone who is going to live in it as there own home. Any investor would know they cannot expect the same price for a property when they are trying to sell to investors who make it a habit to get good deals. Also we allow all investors to make decisions on there own deals. Mr. Robertson made his wishes known and we acted on his orders of placing the tenant. We would never put a tenant in without an investors "okay" I also want to make it known that the investors who made offers on his property were told "no" by Mr. Robertson even though he would have made a profit if he had taken those offers.

2. (We recieved the first Months rent no worries, Chads partner told the tenant who was behind in the 2nd months rent to get it to him with the 3nd months rent. The time came to collect the 2nd & 3rd months rent and the tenants had shot through stealing both the fridge ans the stove)

       This is 100% incorrect We do screen tenants and we did so for Mr. Robertson. We never and I mean NEVER would have told a tenant it was okay to not pay rent and to catch up a month later. The truth is once the tenant was late in rent we called Mr. Robertson and his wife and let them know that the tenant was behind. I told him the facts which were they were not paying as of now but they said they would catch up in month 3. Mr. Robertson than decided along with his wife to allow them to stay in the property because they said they would catch up the rents. In the middle of the 2nd month I was removed from the transaction from Mr. Robertson so I know nothing past this. But I did not and would not allow a tenant to stay without the approval of the owner. Thats the bottom line.

3.

(We have spend the rest of the time and rent that has come in to pay for the poor workmanship the the property. if it was touched by any of the tradespeople ( I use that in a VERY loose term) we have had problems with in.

One of the first things that went wrong was we had to redo the bathroom (after about 4 months) because the so called plumber through away the bath surpport thinking it was just packing in the box. The base of the bath could move up to a matter of inches depending on the amount of weight in it. This set us back about US$ 2,500.

And that was not the last of it by no small feet. At the last lot of sumes that I did we have lost around US$ 15,000 – 20,000 due to the poor rehab.)

Once again Mr. Robertson has left out quite a bit of the facts. Let me clear this up.

As far as the rehab teams not finishing the bathroom that is 100% incorrect as noted by the tenants filling out a move in form as well we conducted a real estate tour in which 35 investors walked through the home (before being rented) and inspected everything about the home.

We also noted to Mr. Robertson that he was welcome to conduct an inspection when the rehab was done and he declined. We also noted that he contacted us about 6 months after we had ceased working on the home. He said there were issues with the plumbing of the home. I talked to Mr. Robertson and his wife personally and told them that we would go into the home and fix any and all issues concerning the plumbing even though 6 months and a tenant had passed and to be honest I did not feel that our rehabbers were responsible for the issues Mr. Robertson brought up. I still was going to have our team fix it. Then to my surprise Mr. Robertson decided to NOT have us fix anything noting he had a change of heart and that he was happy with our services. It has been nearly 18 months and now 3 set of tenants now I really find it quite odd for an investor to hold us accountable after such a long time has passed and we offered to fix the initial issues and were told no by Mr. Robertson.

4. 

(There are only 3 people that have made money out of this dump. that is Chad Simons, the so called trades people of San Antanio and my Property Manager who has had his work cut out for him since day 1 and only recieves a flat 10% of rent.

The bottom line is that I would not Deal with Chad Simons for any amout of money!!!!!!!!

Good luck to any one who does.

Cory Robertson.)

I usually do not discuss financials of what I make on transactions but I made 2,500 dollars on this deal as did chad I know for a fact the countless hours of Project managment, property managment and wholesailing of this deal as well as the use of my team on countless occasions I have lost over 7,500 dollars on this deal in added up time and costs. If. Mr. Robertson does not want to work with us again and would not reccomend us I say that is your right. But please be factful and honest in your complaints. That is all I ask. I know that Chad and I are not perfect and mistakes are made I also know that when we make them we fix it no matter the pain it has on my wallet or chads.

Mr. Robertson also leaves out that a year after the fact his wife contacted me on numerous occasions asking for the right to use our realtors to sell there home. Even though we had been through many issues and hard words we allowed her access to our agent. Our agent confirmed that the property is worth what we told them it was but that they could not get that price at its current condition. When I asked my agent what was wrong she noted a carpet cleaning and other light cosmetic work was needed. She also noted a slight foundation issue. (which any investor who has talked to me over the phone or at a tour knows I address South Texas foundation issues all the time. Letting investors know it happens here and that its part of the deal and its not that expensive to fix) these basic issues along with the fact that the Robertson's had a tenant in the house again would not allow for a retail sale price. (At that time the Robertsons decided to go down this path of "Slandering" Chad and Myself). Infact to this day the property is still on the market with a tenant in it. And they are still trying to sell a home Retail to a market that only wants to buy homes wholesale. (Investors)

I wish the Robertsons all the luck in the world. But I do wish to make it clear that our company has done MANY and I mean MANY rehabs and have had MANY investors happy with the work. I also wish to clarify certain issues that had been raised by Mr. Robertson so that Investors have the full story.

The bottom line is this Chad Simons is an honest and ethical person as am I and we have many happy Aussies who know the quality of the deals we offer as well as the quality of our buisness. If any Investor wishes to have access to any of these investors I would be happy to supply them with an OVERWHELMING amount of investors who will speak to our quality of work.

I wish that if Mr. Roberston has an issue with me, chad or my company as it concerns his building he would contact us directly and not attempt to slander us with baseless claims and stories of half truths. The bottom line in my humble opinon is anyone who looks at all of the facts will know that this complaint is unjust and baseless and will absolve chad and myself in all ways.

I wish you all the best and hope to be working with all of you soon.

Brian Payton
ATW Investments Inc

Hi I’m Cory’s wife Jo, and unfortunately I have been away with work whilst all this has been happening on the forum.  I would actually like to clear things up a little bit.  Yes my husband and I are very, very hurt and this loss has had a huge impact on our lives.  It is an experience that we went into with a lot of trust and unfortunately have learnt the very hard way.  Things can turn bad.  We basically want to worn other investors. 

I would like to touch on just a few of the points that Brian raised in his email.  I’m not into “he said” – “she said” but I want to make things clear for other investors that may be mislead.

Unfortunately when we signed up for the house we checked and were told, through emails conversations and advertised on Chad’s website that we would make and easy $15,000 – $20,000 profit.  As Chad and his family were good friends of ours and because of the “easy profit” we signed up.

After the renovations we were offered $7,000 profit, less the extra expenses and taxes. This was a huge shock. More fool us for not taking it at the time, but it was made out that it was easy to rent out and continue making a profit.  After all the house had just been nicely renovated.

Brian did place tenants in our house, however with the second month, rent was behind.  We queried Chad.  Chad was told that they will catch up in the third months rent (it appeared Chad was just as shocked as we were).  It was then time for us to find a new property manager as the arrangement was only short term.

Our new property manager went to collect the rent.  He was faced with a list of problems with the house, which he also agreed with. (This was only three months after the house had a $25,000 rehab done)  This is also when the stove and fridge got stolen.

We approached Chad and Brian about the problems, that were beginning to surface with the house (this did not include the bathroom. – we were not aware of this until the following month).  We were met with a nasty letter saying that he would fix these things and would have nothing further to do with the house.  Because of nature of this letter we decided we would deal with the problems ourselves trying to maintain our long term friendship with Chad.

More problems have appeared since, 1) Bathroom – bath/shower.  The bath support was not used ending with the bathroom being re-done.  2) Electrical wires shortening twice,

3) Wrong outlet used for the air conditioner – causing it to overflow, freeze and damage the carpets, 4) Leaking pipes to the bathroom and laundry,   5) Leaking roof,

6) Problems with stumps.  Quoted cost for a partial re-stump is $7,000, this has now lead to large cracks in the walls and the doors are unable to be closed.  We have to find the extra money to rectify the poor workmanship.  This is only some of the problems that we have encountered.

The house is not worth the $95,000 as originally quoted by Chad and Brian.  We will be lucky if we are able to get in the $70’s.

Fortunately for Brian when he took his 35 investors through the house it was still in the final stages of being rehabbed.  During these inspections the investors were not using baths, running water, climbing up on roofs, checking power, checking outlets or air conditioning and waiting for stumps to go.  

Of course if I saw the house as we had seen it in photos to begin with, yes it did look good.  I guess this is why Chad recently advertised it on his website as a wonderful house they had done up.  This website was for an upcoming event that Brian was coming to in Melbourne to talk to investors about.  If there have been so many good houses then why use our house with all the dramas and hardship that we have had with it, used as an advertising ploy to gain more sales?

Due to all our problems with the house we wrote to Chad asking him to remove our house from the list of successful renovations on his website.   We do not want anything to do with having other people facing the same problems we have.  We believe this is why Chad’s website is currently no longer.

We have kept quiet until we came across our house on Chad’s website as an advertisement for more sales.  He was such a close friend, which hurt us the most.

We feel cheated, used, hurt and betrayed. It was only when we saw our house listed as successful on Chad’s website that we began to explain our disaster.  It is with much disappointment that this situation has occurred.  We mean no harm to Chad or to Brian’s business however our story has not been successful.  And we are deeply out of pocket. 

Please buyers beware…

Regards Jo Robertson