The Troubleshooter 10-16-25

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Yeah, ripped up, you.

Speaker 2 (00:10):
Don't have.

Speaker 1 (00:13):
Run in just as fast as we can. Shooter's gonna help.

Speaker 3 (00:17):
Come, man, Dix is the Troubleshooter Show. No, Tom Martino, Hi.

Speaker 4 (00:25):
I'm Tom Martino, and uh the satellite studio. We got
Mark Major, Mark Major, my esteemed colleague. Well, I'm not
gonna exaggerate my colleague, whether esteemed or not. Maybe full
of steam on them anyway, I'm not gonna give him
a hard time. I'm gonna go to those streaming to the

(00:45):
to the studio shot of these wonderful people, and I'm
gonna I'm gonna tell you Mark, Uh, bring him on.

Speaker 5 (00:52):
Who do we got, man? We have got a full house.

Speaker 6 (00:54):
Frank drand the real estate my inn of course, John
Clay CMG, the direct lender, Steppy Thomas real Estate extraordinary
in the Pike's Peak region. And Suzanne myself of course,
Shannon on the other side of the glass, Tommy and
Kelly answering the phones.

Speaker 4 (01:11):
Thank you, thank you, thank you. Markte Now we're going
to go to the phones. Phones never wait. But we
do have a lot of great information to share, a
lot of great information about real estate, So we'll go
to our experts about it. I've saved up some text
messages and emails for them as well.

Speaker 5 (01:30):
But right now, let's get to Bruce.

Speaker 4 (01:33):
Who has an issue with a washing machine, and let's
talk about that and see what we can do about this. Bruce,
lay it honest, what's going on with you?

Speaker 5 (01:41):
Bruce? Today?

Speaker 4 (01:42):
Three three, seven to one three talk for those listening
seven to one three A two five five, or you
can always call three oh three Martino.

Speaker 5 (01:50):
Bruce, lay it honest, what's happening?

Speaker 7 (01:53):
Yes, sir, a longtime listener, Thank you, first time color
you've heard that one before. But anyway, so on August
twenty third, about a new Ge washing machine from Lows
so a paper delivery installation and everything was fine.

Speaker 5 (02:12):
What kind did you buy?

Speaker 7 (02:14):
It was a Ge?

Speaker 5 (02:16):
Okay, new Ge washer?

Speaker 7 (02:17):
Got it, yeah, Ge top loading washer. So anyway, right
off the bat, you know, within a day or two
we started having water hammer on our main line coming
in downstairs. And we've never heard it only.

Speaker 5 (02:32):
Happened after So you never had hammering before.

Speaker 7 (02:35):
Negative, We've lived here twenty five years, never had a problem.
All of a sudden we have a problem. So I
go on, I google it and so on. It shows well,
the new washers, they have fast closing valves and that
can cause it, okay, or high pressure. Well, I cut
my pressure down from about sixty five pounds down to

(02:56):
about fifty five PSI. That seemed to work a little bit,
and then it started again. Yeah, so I I I
eventually bought some water arrest or hammer arrestors and put
on the main the line right before the.

Speaker 4 (03:14):
What does a hammer? What does a hammer arrestor look like?

Speaker 5 (03:19):
What is it?

Speaker 2 (03:19):
Just?

Speaker 7 (03:20):
It's it looks like I kind of like a tea.
It's got a little stem that comes off you. You
hook it up to the uh to the water coming
out of the wall that you know with the line
that goes to your closes doors.

Speaker 4 (03:32):
So you actually have to do Did you do the
plumbing yourself to put that in?

Speaker 7 (03:35):
Yes? I did it. It's fairly easy. So I put
it in yesterday and we ran one load and I said,
oh my gosh, it's we're can find next load start
hammering again.

Speaker 4 (03:47):
We got to get one of our experts on. Have
you had an expert look at it?

Speaker 7 (03:52):
No, that's the thing. Well, one more thing, tom, So
I had my wife opened the lid to stop the hammering. Well,
once you did that, it just we got this real
loud humming noise that would.

Speaker 4 (04:03):
What do you mean, open open the lid? Why why
open the lid? I don't get that part.

Speaker 7 (04:08):
Well, because it was hammering, and I thought that would
shut it off. You know when you open the lid
and wash the machine a lot of times?

Speaker 4 (04:14):
Oh, I get it. You you paused, you pause it. Okay,
let's just react. Bottom line is but it's a it's
a really simple matter. You install the washer, and ever
since then you've had hammering and and really and truly
it is the valve closing. If you went to another
valve in your house and turned it off quickly, would

(04:37):
you get hammering?

Speaker 7 (04:38):
No, that's the thing.

Speaker 5 (04:40):
We did.

Speaker 7 (04:40):
The showers, we did the bath doze, we did it all.
We got no hammering. Okay, the only thing we got
hammering from was the Washington.

Speaker 5 (04:48):
There might be air. Is there air getting in somewhere
to that fitting?

Speaker 7 (04:52):
Well, that's what I kind of thought. And at one
time we shut the water off to the house and
opened up all the all the lions and then close
them into so on.

Speaker 4 (05:01):
All right, Mark, what do you think we get one
of us somebody from fix it or somebody from Plumbline.

Speaker 6 (05:06):
Yeah, I think it's the new washer. I mean I
think that's smart. Way in there goes on and off
really quick. I'm not sure how.

Speaker 5 (05:12):
They're going to fix it.

Speaker 7 (05:13):
Yeah, well that's the thing. They say, these these little
hammer arrestors will do it. Well, that didn't do it.
And the thing is then I called.

Speaker 6 (05:20):
Gee, can you find the pipe that's actually hammering?

Speaker 5 (05:24):
Is it the hotter cold? First of all? Is it
hotter cold?

Speaker 7 (05:28):
It'll be the cold water. The water inlet to the home.
It's downstairs in a basement, is accessible. It just starts hammering.

Speaker 4 (05:36):
Now is that where you hear it from the right
where it comes into the house.

Speaker 7 (05:40):
Correct.

Speaker 5 (05:40):
I want to see.

Speaker 4 (05:42):
Let's just get an expert on and just just run
it by them. Bruce, you need a visit from an expert,
You really do. Sometimes it's just one of those things
we can't do by ourselves. But hang on, and Bruce,
did you just hang up on me? Oh no, no, Okay,
I thought I was saying something you don't like. Hold on, Bruce.
We'll get right back to you, I promise you. Okay,

(06:03):
hang on, Todd's got a Kashina. Let's call Plumb line
or fix it. Get one of the plumbers on one
of the master plumbers. Don't get me any executive, get
me a plumber and or a plumber supervisor or something. Todd,
long term health insurance. What is going on with you?

Speaker 5 (06:23):
Todd?

Speaker 8 (06:24):
Yeah, I called and talked to you back. I think
it's the twenty fourth or September.

Speaker 5 (06:29):
What was it about? Just recap what you called about.

Speaker 8 (06:33):
Yeah, so I'm as far as us possibly living at
the same address, so I can care.

Speaker 4 (06:43):
But Todd, Todd, tell me, tell me what the issue
itself was with with.

Speaker 5 (06:48):
Your long term care.

Speaker 8 (06:50):
Okay, so being a with it being my mom, they
allow long term family members to care for them as well.

Speaker 4 (06:57):
I remember this, Yes, and you were caring for her.

Speaker 8 (07:03):
Yeah, as long as you don't live in the same
home prior to care beginning, and which I wasn't. And
you told me to send him an email regardless, right
you know, if they see me where you know, highlight
where in the policy it says this, and if not,
then I will be contacting an attorney regarding bad faith.

Speaker 5 (07:25):
Right, well? Email? And who is the long term care?

Speaker 4 (07:30):
Who is the long term care company?

Speaker 8 (07:33):
Davies DA V I E. S is the name of
the company.

Speaker 4 (07:37):
And this is your mom's policy, that is correct? Yes, okay?
And do they slightly refuse to pay for long term
care or only the care you provide?

Speaker 8 (07:51):
They're saying if I live at the same address, if
she moves in with me, or I move in with her,
that they will no longer allow that to happen.

Speaker 5 (08:01):
And is that in the policy somewhere now?

Speaker 8 (08:04):
On the policy it says neither homemaker or home care
services can be provided by a family member or someone
already living at your address prior to the inception of
her need for care or service. A family member can, however,
provide care and services covered by this policy if pre
approved by us to request the family members.

Speaker 5 (08:27):
Did you get did you get pre approved?

Speaker 8 (08:30):
Yeah, I'm already. I'm already working for her for eight
hours a week, helping her around the house and doing Todd.

Speaker 4 (08:39):
Were you pre approved by the long term care policy?

Speaker 8 (08:44):
Yes?

Speaker 5 (08:45):
You were?

Speaker 4 (08:46):
Okay, If they preapproved you, then what is the reason
for suddenly pulling the.

Speaker 8 (08:51):
Coverage if I move in with her or she moves
in with me.

Speaker 4 (08:59):
Okay, So let me let me get this straight, Todd, Todd,
I got to get this straight for our expert. You
were caring for her being paid. Then they pulled the coverage.

Speaker 8 (09:11):
They've not pulled it yet because why I'm not I'm
living at the same address right now. Okay, however, is
I live at the same address? They said that they
will not allow that.

Speaker 4 (09:26):
If that's in the policy, then they're allowed to do that.
Are they pointing to policy language that supports their decision?

Speaker 8 (09:34):
No?

Speaker 4 (09:36):
Have you had someone look at that policy to see
if they're correct?

Speaker 5 (09:41):
Have you looked at it?

Speaker 8 (09:43):
I've looked at it thoroughly multiple times, and I said,
it says in here it says requested a family member,
someone other than a spouse or someone living with you,
prior to the inception of their need for care and
services to contact them. And that happened prior to the fact.
And since it says prior to, it's leads to the

(10:06):
assumption that once it's approved prior to that, therefore later
you can live at the same map.

Speaker 6 (10:12):
Can you send us a copy of that mark?

Speaker 5 (10:15):
Who would we have mark? Who would we have look
at it?

Speaker 6 (10:19):
I'm thinking possibly John Scene.

Speaker 5 (10:22):
You ever read integer? Yeah, but I've read integer.

Speaker 4 (10:25):
Send it over though, Todd, this is this is really complicated.
Let me explain something. This happens a lot long term
care and family members. There is nothing nicer than a
mom being able to hire her son or her daughter,
or even a younger sibling or someone to care. The

(10:48):
policies try to avoid people milking that provision by saying, hey, man,
you know you can quit your job and come live
with mom. And that's what they're trying to get around.
I want to be very crystal clear on this, okay,
and I'm not going.

Speaker 5 (11:05):
To belabor it.

Speaker 4 (11:06):
You were providing care and you were being paid by
this policy, right and still are yes. And the reason
they say they're going to discontinue it, what is their
one reason why they're discontinuing it.

Speaker 8 (11:26):
You can't live at the same same location.

Speaker 4 (11:29):
Well, that's a simple matter, and you are living there.
I'm not, well, why do they think you are.

Speaker 8 (11:38):
I'm proposing that as an option. We're trying to plan
on things for moving them, and they said they won't.
They won't even preapprove things like that, and so they
will approve once something's happened.

Speaker 4 (11:50):
So if Todd, if that's the policy, If that's the policy,
that's the policy.

Speaker 5 (11:57):
They don't they will not pay if you move in.

Speaker 8 (12:00):
That's not what it says in the policy.

Speaker 4 (12:02):
Okay, that's where we got it. Okay, I want you
to highlight. I want you to send that over to us.
We need to look at that one provision you're talking about.
If you could, it would be nice if you could.
You know, I don't know if you know how to
manipulate things digitally. If you could circle it or something,
or give us the exact paragraph number.

Speaker 5 (12:20):
It's all a matter of contract.

Speaker 4 (12:22):
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three nine two zero sixteen twenty two. Hi Tom Martino,

(13:37):
your troubleshooter three all three seven one three talk seven
one three A two five five. Okay, we're waiting on
a plumber to talk about to talk about this. And
then on the long term care, I think we're going
to get an expert on that too, as soon as
we get that insurance policy. Long term care and relatives

(14:00):
taking care of relatives.

Speaker 5 (14:01):
One person texted.

Speaker 4 (14:03):
Me said that they were able to care for their
mother and get paid by long term care so long
as the payment was in line with the industry and
so long as they were not living with them.

Speaker 5 (14:17):
Now, I know.

Speaker 4 (14:18):
Every policy is different, but it's all going to come
down to the wording and the policy language, all right,
So we have John place with us from partner in
Lending dot com. Frank Duran from Frank durand The real
Estate Man dot com Stephanie Thomas, which is Stephanie r.

Speaker 5 (14:39):
Dot com. So my first question, John.

Speaker 4 (14:41):
Place, Yes, Tom, as far as purchase money, loans up
or down or all around, where do we stand?

Speaker 5 (14:48):
You know?

Speaker 9 (14:49):
I mean rates are pretty good.

Speaker 10 (14:51):
I mean we're seeing consistently, we're seeing raches consistently under
six and a half. I mean, depending on you know,
FICO score. In other situation, we're creeping down. It's got
you know, six and and eighth and sometimes five point
ninety nine. So it's kind of moving the right way, okay.

Speaker 4 (15:09):
And we hear that in early twenty six the Fed
may cut rates even more. They're trying to keep a
handle on inflation over the holidays, and they feel like
they might be able to relax those rates a bit
in the beginning of the year. And people always ask,
you know, why does that slow down inflation? Well, when

(15:30):
rates are higher, people borrow less, spend less, and it
slows the economy a bit, which also slows price increases.

Speaker 5 (15:39):
And that's what that's about.

Speaker 4 (15:40):
Frank Daran, The real Estate Man dot com Frank Dran,
I am hearing mixed reviews on the market. Okay, I'm
hearing people who are having houses sit on the market
five or six months. I'm hearing from people who have
their houses on the market for five or so days,

(16:01):
and I can't make out what the hell is going on, Frank,
why is that happening?

Speaker 5 (16:05):
Well?

Speaker 11 (16:06):
Tom, good morning, first of all, and I'll tell you something.
This is interesting. Realtor dot com recently came out with
a report that said the best time to buy is
between October twelfth and October eighteenth. So this week here,
reason being is inventory is up about thirty two point
six percent, we have about thirty percent less buyers competing
in the market, and prices are down about fifteen.

Speaker 5 (16:27):
Thousand over the peak season. So we see a.

Speaker 11 (16:29):
Little bit of that going on. But I'll tell you
this too, Tom, selling homes all over the Denver metro area.
It does vary place to place because some of these
condos were selling. For instance, they're taking a little longer
to move. We're still getting a moved, it just takes
a little longer. Just got a single family home which
has a lot of inventory in that particular area, ended
up getting a really good offer last night. We're in
the process of negotiating, so it's a little bit all

(16:50):
over the board. I do see some pent up demand though, Tom,
and I think when rates drop, look out because I
think the savvy buyers are buying right now in today's market.

Speaker 5 (17:00):
So are you saying some buyers are buying now?

Speaker 4 (17:02):
But if you had to describe the market, would you say,
it's fair, it's great, it's poor.

Speaker 5 (17:11):
Where would you place it?

Speaker 11 (17:12):
I would say it's very balanced, Tom, very bad and
less unless you're getting into these condos that have too
much demand where or i'm sorry, too much inventory where
some of them, my gosh, you have maybe one buyer
for about twenty homes. Now that's a little bit different.
That's more of a buyer's market situation. I'd say overall
it's balanced.

Speaker 5 (17:30):
It's balanced.

Speaker 4 (17:31):
But as far as this time a year ago, or
this time two years ago, Frank, there was a time
you listed your home and you had twenty offers the
same day, I mean those days are.

Speaker 11 (17:43):
Gone, right because at the time we had less than
ten thousand active listings inventory. Now we're sitting just under
fourteen thousand, so that's more balanced. But Tom, think of
it like this, to put it in perspective. Back in
twenty eight through eleven, we were sitting a little over
twenty six thousand active listings, So sitting around, you know,
just under fourteen thousand homes is really a lot more
balanced than people realize.

Speaker 5 (18:03):
So it's not a bad market by any means. No,
because homes are still moving. We're still getting moved, and
thank god we are.

Speaker 11 (18:08):
I mean, last night we got a good offer and
so it just taken a little bit longer to move them.

Speaker 4 (18:12):
Okay, and Stephanie Thomas, what about the Pike's Peak area,
which I define from Monument down to Pueblo. I might
be a little off on that, but what is that
market looking like?

Speaker 12 (18:24):
You know, I agree with Frank, we're really balanced. Same
with us. As far as condos and town homes, that
market does seem to be moving a little more slowly.
Our days on market there are a little over you know,
what a single family would be, but there are you know,
areas and again very case to case where some things
are taking longer to sell and then others were able

(18:47):
to move, you know a little more quickly.

Speaker 4 (18:49):
So well, so basically what you're both saying is it's
balanced and some things sell quickly.

Speaker 5 (18:56):
Some things don't some things.

Speaker 4 (18:58):
I mean, it all depends on the area and the comps.

Speaker 12 (19:02):
Basically absolutely, you know, Okay, kind of that rule of
thumb is, you know, under three months of inventory tends
to favor sellers.

Speaker 13 (19:11):
You know, in that three to six.

Speaker 12 (19:12):
Month range of inventory that tends to be more balanced.

Speaker 13 (19:15):
Above six it tends to favor buyers.

Speaker 12 (19:18):
And in my areas I'm sitting right around, you know,
three months of inventory with like current saturation rates. Now,
we do tend to slow down, of course going into
winter months. But one of the really great things about
selling in winter months is you tend to have a
little less competition as far as other listings. Your buyer
activity may be slower, but it's usually more committed serious

(19:39):
buyers at that point.

Speaker 13 (19:41):
So maybe a little less.

Speaker 12 (19:42):
You know, amount of showings, you're not having to run
out the door quite as often, but a lot of
times those showings are actually looking to buy and they're
more motivated at that point. So this kind of market
really is an opportunity market. Buyers can you know, negotiate
some deals right now and sell are still able to
capitalize where values you know, they didn't nos dive.

Speaker 13 (20:04):
We saw some softening. Okay, you are so high, so.

Speaker 4 (20:07):
I get the word is balanced, But I'm going to
tell you something about the condo market coming up.

Speaker 5 (20:12):
That is not balanced condos and townhomes.

Speaker 4 (20:15):
I mean, I've done a lot of research into this
area and I want to tell you what I believe
the market is a little sluggish and why it could
be a disaster. And I hate saying that because I
know we like to stay positive, but I got to
call it like I see it. We got more coming
up on the Troubleshooter Show Denverregen dot com. By the way,
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(20:37):
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Speaker 5 (21:01):
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Speaker 4 (21:06):
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Speaker 5 (21:17):
Help.

Speaker 4 (21:17):
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 O
three seven one three talk seven one three A two
five five.

Speaker 5 (21:37):
So, uh we have George Hey?

Speaker 6 (21:40):
Uh yes, Mark Hey, real quick looking at this contract
for this guy. I mean, I don't even know what
an expert would chime in on. I mean, it's pretty straightforward.
A family member can serve as a caretaker under this policy, Uh,
subject to the following conditions.

Speaker 5 (22:00):
Okay, ready, go ahead.

Speaker 6 (22:02):
The family member must not be your spouse or someone
who has already living with you prior to the inception
of the policy or the need.

Speaker 5 (22:13):
For care So what was the answer there? Do you know?
But Mark, what he said?

Speaker 4 (22:19):
Now we all agree on that, And he said, I
understand that I couldn't have been living there prior. That's right,
But why can't I move in afterwards?

Speaker 6 (22:29):
Well, it goes on to say the arrangement requires pre
approval from the insurance company Penn Treaty network to request
this call this phone number eight hundred and eighty six
five eight seven two too, or in writing to their
home office within fifteen calendar days of care service beginning.

(22:50):
If the family member needs training to provide the care,
the policy includes a family member training benefit. And then
it goes in to say a family members to find broadly,
is anyone related to you or your spouse by blood,
marriage or operation of the law, including parents, grandparents, children, siblings,
blah blah blah. So he's got to get approval from him,

(23:11):
and that's all there is to it. If they don't
give him approval, he simply can't do it, all.

Speaker 4 (23:15):
Right, So real quick, I want to take I want
to take George right now because he's really busy. I'll
go back to Todd in the second George Donaldson all
of a sudden, pipe hammering. He never had pipe hammering before,
but he has a new washer installed and now he
has pipe hammering. And it's only when he's using and
let me, oh, actually I don't know that, Bruce. Is

(23:37):
it only when using the washer or does it happen
now all the time?

Speaker 7 (23:43):
No, now, it's just when I use the washer.

Speaker 14 (23:46):
And okay, yeah, it's called probably it's actually called it's
common if these new washers have a stillinoid belve that
closes faster than than washers used to, so it actually
it causes the hammering.

Speaker 8 (23:58):
This is actually a common issue. And so there's a
valve we can put you. We have to put your
supply lines and a valve on there to fix that.
But that's something now.

Speaker 4 (24:07):
George Donaldson is the owner of Fix and twenty four
to seven, and he himself is a master electrician, but
he also knows about the other divisions they have, you know, plumbing, heating, cooling,
electric trains. George, what is it that you actually install
and why does it help?

Speaker 14 (24:24):
It's a it's a cyllinoid valve because it so when
it right now, the cyllinoid valve closes much faster inside
the washer, which causes pressure inside those pipes. So like
in the pipe, the hammering is just the pipe shaking,
sure and so and so we put a valve on
there that that flows.

Speaker 8 (24:44):
That down so you don't hear that hammering.

Speaker 5 (24:47):
Okay, now go ahead.

Speaker 7 (24:49):
First, I was just going to say I put two
stainless steel wash your hammer arrests on yesterday okay, right
right off the right where the water line comes out
of the wall and goes to the washer. And it
went through one cycle. Then it started hammering again. It
hammers downstairs at the main in line.

Speaker 4 (25:08):
Well, did you install what George was talking about? I mean,
I don't think it sounds like the same thing.

Speaker 7 (25:14):
I don't know what you did about, George.

Speaker 8 (25:16):
Have you had a plumber come out there?

Speaker 5 (25:18):
No, he hasn't.

Speaker 7 (25:19):
No, I haven't. It's under warranty. I called yesterday.

Speaker 5 (25:23):
It's not a warranty issue.

Speaker 4 (25:25):
It's not a warranty issue with the washer that the
valve is working the way it's supposed to work. Bruce,
this is not a warranty issue. You need to adjust
your home to fit the new appliances.

Speaker 7 (25:39):
I know I've tried, Tom, but here's the main thing.

Speaker 5 (25:41):
Now, No, you haven't tried. You haven't had a plumber
out there. If what else can we say?

Speaker 7 (25:49):
Just let me say one thing. Okay, I called for
a service yesterday to Bodewell, who does ge services on
their warranty.

Speaker 4 (25:57):
It's not a warranty issue. I'm okay. Goodbye, Bruce, goodbye, Bruce, goodbye.
I'm serious. I'm not wasting airtime anymore. I'm not doing it. Okay,
call me an old fark, call me anything you want.
The answer is plain and simple. George Donaldson at fixmihome
dot com fix It twenty four to seven, they have
a solution. You keep wanting to get it under warranty

(26:21):
or get it done free, or do it yourself. Sometimes
that just doesn't work, and discussing it further is frankly
boring me. Fixmihome dot Com book now that thank you, George,
appreciate you being there. Now we have the long term
care insurance.

Speaker 5 (26:38):
Mark. Read this policy.

Speaker 4 (26:40):
I since have read it, and I'll tell you what
it's exactly what you say, Mark, he has to get
pre approval. It doesn't say pre approval is guaranteed either, Todd.
Did you apply for pre approval?

Speaker 8 (26:56):
Yeah, I'm currently there. Currently I'm currently helping her, So
I've been approved to work.

Speaker 4 (27:03):
For No, I'm talking about moving in. Did you apply
for pre approval to move in? No, that's what you
have to do according to the policy, that's what you
have to do.

Speaker 8 (27:16):
Yeah, but they won't And then they tell me they
won't pre approve. They'll only okay or deny once something's done,
you have to do that first.

Speaker 4 (27:24):
So they're saying you have to move in first and
see what they decide.

Speaker 5 (27:28):
Well, that voids it.

Speaker 6 (27:30):
That doesn't make any sense.

Speaker 8 (27:32):
Right.

Speaker 5 (27:32):
Well, it says the family.

Speaker 6 (27:34):
Member must not be your spouse or someone who is
already living with you prior to the inception of the policy.

Speaker 4 (27:45):
So were you living with her before the inception of
the policy?

Speaker 8 (27:51):
No?

Speaker 5 (27:52):
Okay? Are you living with her now?

Speaker 8 (27:56):
No?

Speaker 5 (27:57):
Okay? So according to.

Speaker 4 (27:59):
Your pology, and you may want to get someone who
knows how to read. According and I'm talking about on
their side, not on your side. According to your policy, you,
as a family member who has not lived there before
and is now caretaking, can apply for pre approval to
move in right Mark.

Speaker 6 (28:19):
That, yes, absolutely, within fifteen calendar days of the care
or service beginning.

Speaker 5 (28:26):
So has the policy already started?

Speaker 6 (28:28):
Would be one question, because if so, he was supposed
to do it fifteen days prior. And then the second
thing is they actually will pay for training as well.
It's called family member training benefit.

Speaker 5 (28:42):
But this is.

Speaker 4 (28:43):
One thing I find odd though, correct me and see
if you find it odd.

Speaker 5 (28:47):
Marked.

Speaker 4 (28:47):
I find it odd that they say within fifteen days
of the policy. What if the need to live there
wasn't there when they started the policy, but it later arises,
is he aced out of ever living there?

Speaker 5 (29:00):
I don't know. I mean, I don't know how you
want to read this.

Speaker 6 (29:02):
It says the arrangement requires pre approval from the insurance
company to request this contact then blah blah blah in
writing within fifteen calendar days of the care slash services beginning.

Speaker 5 (29:16):
That's what it says.

Speaker 4 (29:18):
Okay, then I think he's out. I think by contract
they're not going to approve him.

Speaker 5 (29:23):
He's past the time period.

Speaker 8 (29:25):
I'm already approved. I'm not sure what you're saying.

Speaker 5 (29:27):
And why are you here?

Speaker 4 (29:28):
No, No, we're talking about approved to live there?

Speaker 8 (29:31):
Todd, Right, Well, but they said I needed to first
get this set up with to where I'm there or
where I'm helping her with things, and then I can
talk with the claims management department who's assigned to her,
so I can talk about this. And I've done that,
and I've spoken to a supervisor and they both said

(29:51):
if I'm move in with her or she moves in
with me because she's getting older, that they would not
approve it. Right here, right as you know, you can't
do this prior to or I read under the then
later we could live in the same household.

Speaker 5 (30:12):
But it says this, Todd. The policy is very clear.

Speaker 4 (30:15):
The request had to have been made within fifteen days
of the policy effective date.

Speaker 8 (30:22):
And it was. And that's why I'm still that's why
they're reimbursing and I am working, and they're.

Speaker 4 (30:27):
Todd, Tod wat Todd, you keep wait, he keeps confusing.
We're not talking about you as a caretaker. We're talking
about you as a caretaker who lives there. The request
to live there must have been done within the first
fifteen days.

Speaker 8 (30:47):
And I'm not living there, so I'm oh my.

Speaker 4 (30:49):
God, Todd, Todd, You're right, You're right, go ahead, Mark.

Speaker 6 (30:55):
So basically, if you've already been approved, Todd, then from
everything I'm reading, this isn't legal advice. But if yes,
if you have been approved and you were not living
with the family member at the time the care began,
you could move in with them and still have the
family member serve as your caretaker under this policy.

Speaker 8 (31:17):
That's what Mark.

Speaker 4 (31:18):
What about the first fifteen days, Well, he's saying he
did it before fifteen days and he did get approved.

Speaker 5 (31:24):
That's what Todd said, he.

Speaker 4 (31:26):
Got approved as a care tats and if you get
approved as a caretaker, then the family member can move
in long as they weren't living with them prior.

Speaker 5 (31:37):
And they're telling him no.

Speaker 6 (31:39):
Well, I don't know why they're telling him no.

Speaker 8 (31:43):
They're saying they don't say it either other than their
internal guidelines that we talked about before, and Tom you said, read.

Speaker 4 (31:50):
Everything has to do with contract. It doesn't matter what
their internal guidelines are. So the application to be a
caretaker had to have been done within fifteen days to
move in requests just to be a caretaker. He's approved
as a caretaker. The only thing left he wants to
move in, and they're unreasonably denying it. The way I
look at it, that is bad faith. Hold on, we

(32:12):
got more coming right up. Hold on, 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
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(32:32):
paying too much your coverage at dozens of insurance companies.
Find out now three three, seven to seven to one.

Speaker 5 (32:38):
Help.

Speaker 4 (32:38):
durand the real estate man dot com to list your
home with Remax Alliance threeh three nine two zero sixteen
twenty two. Hey Tom Martine here with Mark Major and
we're talking about Alarm term care.

Speaker 5 (32:58):
And I don't know.

Speaker 4 (33:00):
The bottom line is he was approved, and he did
it within fifteen days of the policy, and now he
simply wants to move in. And the policy clearly says
as long as he wasn't living there prior to the policy,
he has to ask for approval to move in.

Speaker 5 (33:21):
Is that it mark in a nutshell?

Speaker 6 (33:22):
Yeah, fifteen days prior prior to what? Fifteen days? Well,
it basically says this. So it says you must request
approval from pen treaty fifteen calendar days of the care services,
beginning by calling and then there's a number to call.

(33:44):
I mean that's what it says.

Speaker 4 (33:46):
So is that saying then back when the policy started,
he had fifteen days to be a caretaker or fifteen
days to request that he moves in.

Speaker 5 (33:55):
It kind of says both.

Speaker 6 (33:56):
It says if approved and not living with the family member,
So we know that is part of it. He was approved,
according to him, and he was approved fifteen days before.

Speaker 5 (34:06):
It says you can move.

Speaker 6 (34:08):
In with them and still have the family member serve
as your caretaker under the policy. So I mean it
says you can do it, but then it goes on
to say you need to get the approval from Penn
Treaty fifteen days prior.

Speaker 5 (34:21):
So see that's what they're hanging their head on. They're saying.
But it's so weird you can read it either way.
I mean, it's nuts. I don't know.

Speaker 4 (34:30):
We got to try to reform to somebody. Hold on Todd,
We'll figure it out. More coming up. Go with a
sure thing Denver's Best roofer Excel Roofing dot com.

Speaker 5 (34:41):

Speaker 4 (34:46):
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 for ain't durand the real estate Man
dot com to list your home with Remax Alliance three
oh three nine two zero sixteen twenty two.

Speaker 1 (35:07):
Yeah, ripped new You need advice, so you don't have
come run in just sustas as we can show Shooter's
gonna help come Man.

Speaker 3 (35:26):
Dix is the Troubleshooter Show. Now Tom Martino.

Speaker 4 (35:31):
Hello, I'm Tom Martino and we have a show today.

Speaker 5 (35:35):
Let's uh get right to it and talk.

Speaker 4 (35:38):
To you with about your problems, questions and complaints. All
you have to do is call us at three oh
three Martino three oh three sixty seven eight four sixty six,
or you can call us at the iHeart number one.
We're on the air here three oh three, seven to
one three Talks seven one three eight two five five
Major Mark Majors back at the studio with his guests
and we're going to be talking.

Speaker 5 (35:58):
About real estate and lending.

Speaker 4 (36:00):
But we're in the middle of this long term care thing,
and I think the paragraph's pretty clear that it doesn't
address living with them at all, and you have to
request to be a caretaker within fifteen days of the policy.
He did that, but it says someone not living with you.
I don't think there is a provision. I just don't

(36:23):
think there is a provision. But it is confusing. I'll
tell you that Dave's got a comment on this. Go
ahead Dave, what is your comment?

Speaker 8 (36:29):
Hey Tom, Hey.

Speaker 15 (36:31):
Tom, I may have caught in the middle of this conversation,
but it sounds to me like the fifteen days that
they're talking about has nothing to do with the exception
of policies or anything.

Speaker 8 (36:42):
That's when caregiving services are hard to start.

Speaker 15 (36:47):
For instance, if you are starting those services on November first,
you would have to do it today, fifteen days before
before your caregiving services start.

Speaker 5 (36:59):
Well, no, he did that, by the way.

Speaker 4 (37:01):
He did within the fifteen days of the policy commencement.
He did get approval to be a caretaker. Now he
wants to move in, and his theory is since he
wasn't living with her before the policy, which is prohibited,
since he wasn't doing that, he should be able now

(37:22):
to move in and provide the services.

Speaker 5 (37:25):
But the policy really does.

Speaker 4 (37:27):
But the policy really doesn't address it, and I can
see why Todd is confused. So I looked up bad
faith attorneys that deal with long term care, because Todd, really,
there's nothing we can do about this at this point.
They're interpreting that contract to say, yes, you are approved,

(37:49):
Yes you are as long as you were not living
with her, you are approved. But that also in my mind,
says you're never supposed to live with her. I don't
think they can cover live in carecter. I could find
nowhere in the contract that covers people living there, not.

Speaker 5 (38:08):
Just you, but anyone.

Speaker 8 (38:10):
If it would have. If the intention was for someone
to never live with him, it should have stated it
that way versus the way it's written.

Speaker 4 (38:17):
You know, I agree with you, Todd, I agree with you,
but it doesn't.

Speaker 5 (38:22):
It doesn't.

Speaker 4 (38:24):
It doesn't mention anything anywhere about live in help, so
I would assume it just doesn't cover.

Speaker 5 (38:31):
Live in help.

Speaker 4 (38:31):
But it's written in a way that says as long
as you weren't living with her before. I think that's
for caretaking, not for living there. They're saying you can
be paid as a caretaker so long as you were
not living there prior to the policy. What I think
they're saying is they don't want you just hiring your brother,
your sister, your aunt, your uncle, your father, your mother,

(38:53):
your husband, your wife. They just want to make sure
that the caretaker wasn't there all.

Speaker 5 (39:00):
And trying to suck the system.

Speaker 4 (39:02):
I think they're simply saying, as long as someone hadn't
been living with you, they can be your caretaker. But
I don't see anything that allows you to move in ever.
I just don't see it. I see assisted living in
other things, but not something where the caretaker is allowed
to live there. They're interpreting it as this. If you

(39:23):
are a caretaker and you applied and were approved, that's
good because you weren't living with them before. But it
doesn't say, however, you can move in afterwards. It doesn't
say that, And one could conclude, and I looked at
it through another lens, and you could conclude that they

(39:45):
don't want caretakers living there. That's why they say you
can't have lived there before the policy, and I think
they also should have said, and you can't live there
after the policy. You can be a caretaker, but you
can't live there. They are very very it's very confusing.
But because it doesn't mention it as a benefit, I
don't think you're going to force them to do it.

Speaker 5 (40:07):
But I'm going to give you some referrals.

Speaker 4 (40:09):
These people specifically advertise that they handle long term care
insurance claims with bad faith, so I think it and
I'm just looking this up online. McDermott law. I don't
know anything about them. I have their phone number if
you want to write it down. They specifically advertise long

(40:32):
term care claims and bad faith, so you might want
to start there and have them review the contract.

Speaker 5 (40:40):
Are you ready to copy down the number?

Speaker 8 (40:43):
Yeah?

Speaker 5 (40:44):
Three h three nine six four, eighteen hundred.

Speaker 6 (40:51):
It's weird when you think about bad faith though, that's
generally where they're just saying, no, we're not going to
give you anything.

Speaker 5 (40:57):
They're not saying that at all.

Speaker 6 (40:59):
They're saying we're simply not going to pay a family
member that's living there. If they're actually saying that, so,
I'm not even sure if it's bad faith. So I
hope you follow up with this, Todd. What the attorney says, well.

Speaker 4 (41:10):
It's it's your kind of right, Mark on that. It
isn't really what bad faith is. The law reads roughly
unreasonably denying or delaying payment for a legitimate claim. And
what Mark is saying is kind of true. They're not
denying anything. They just don't address the living with them.

(41:34):
Let me ask you this. Did they say if you
move in, they're going to stop coverage?

Speaker 5 (41:39):
Yeah, they said that.

Speaker 8 (41:43):
Yes, they said I would not be It's like a
change in what my care is right now. I'm not
caring for that word to be a change in care,
and they would not allow me to live with them
mew and we had a long term care assistant living
home my wife did in Northwark Colling and managed it
for six years. So it's not like I don't know and.

Speaker 4 (42:03):
No, now that's not the issue. That's not the issue.
The issue is they're going by contract and they're saying
there's no provision in that contract for long term care
to live there, not just you or anyone, there's just
no provision for living help.

Speaker 8 (42:21):
And differently, and I think.

Speaker 4 (42:25):
I think the way it's worded is crazy. But don't
be surprised if an attorney doesn't take this because it's
not a strong case.

Speaker 5 (42:35):
But I would start.

Speaker 4 (42:36):
There that that firm specifically advertises that and we got
to move on though.

Speaker 5 (42:41):
Man, Okay, thank you for calling it. Appreciate it.

Speaker 4 (42:43):
Three h three seven to one, three talks seven one
three eight two, five to five. Kyler, Welcome to the
Tom Martinez Show.

Speaker 5 (42:49):
What's going on? Kyler?

Speaker 16 (42:51):
Thank you so much for all that you're doing for
this community.

Speaker 8 (42:54):
Tom for the years and.

Speaker 5 (42:57):
Let's and let thank you very much.

Speaker 4 (42:59):
And I couldn't done it without all the help I have,
and that's the number one.

Speaker 5 (43:04):
And don't get mad Mark.

Speaker 4 (43:06):
Sue's over the years has been a rock, and of
course Marcus two. But Sue's comes before Mark in my
eyes as far as behind the scenes anyway, I'm just
fooling around Kyler looking well, she's way better looking than
all of us.

Speaker 5 (43:21):
So, Kyler, what is your question? Sir?

Speaker 16 (43:25):
So, I have a business partner, I'm out of state,
and I came in and did an audit, and I
found out that he's been using my portion of the
business funds three model it house, Kyle, what buy cars?

Speaker 8 (43:40):
Stuff like that?

Speaker 5 (43:41):
Whoa Now? What kind of a business? What kind of
a business is this?

Speaker 16 (43:46):
Sure, we're kind of like a extreme sports company which
teats for youth how to get confidence through doing stunts?

Speaker 8 (43:58):
And then and you when you.

Speaker 5 (43:59):
Did this audit, how did you do it? Is it
on quick books?

Speaker 4 (44:02):
Or how did did he actually keep record of the
money he took?

Speaker 5 (44:05):
How did you figure all this out?

Speaker 8 (44:08):
Our accountant found out that there's our category that was
called outside services, that he was putting all of the
extra funds that was supposed to be due to us
into people filing his house. And we found out they
bought a car and about their team.

Speaker 4 (44:27):
Now does okay, Kyler, when you talk to your partner
and say, hey, listen, man, this is money that should
have been split and you use it all for yourself,
what does he say?

Speaker 8 (44:38):
Well, that's where we're at. Last time I talked to
him with this meeting with our accountant, he's kind of
being silent. He's not bringing anything to the table.

Speaker 6 (44:48):
Well, do you have a mediation agreement and arbitration and
your I mean when you created this LLC or whatever
you did. What happens if you guys have an issue?

Speaker 16 (44:59):
Yeah, so we do have arbitration and uh that might
it might come to that. But my main question here is,
because he puts some of these funds into his home,
how do I put a lien on his house? Because
that's well, you can't paid off his house with our
with our portion of this recently.

Speaker 4 (45:21):
Now, now it sounds almost logical that he he used
money on his house. You should be able to lean
his house. But it's not that easy. You have to
get a judgment unless you want to pretend you did
work on the house, which is not wise.

Speaker 5 (45:36):
Don't put on a bogus judge.

Speaker 4 (45:38):
Lean what you need to do is get a judgment
against him before you can lean his property. But here's
the good news you need in writing now.

Speaker 5 (45:47):
Listen carefully, Kyler. You need in writing right.

Speaker 4 (45:51):
Now to let him know that you will be pursuing
legal action, including and and not limited to, pursuing a
judgment for the amount he illegally took.

Speaker 5 (46:08):
And leaning his home. Now, why would you do that?

Speaker 4 (46:13):
Why am I telling you to specify this in writing
right now? Tell me, Kyler, this is a quiz. Why
am I telling you that?

Speaker 8 (46:21):
Oh? Is it so that he doesn't liquid eat?

Speaker 4 (46:24):
Because once you put him on notice that you are
seeking legal action, which will include a judgment for the
money and a lean on his house. If he tries
now to put that home in his wife's name or
his mother's name, or he tries to get a loan

(46:45):
on that house so there's no equity, or he tries
to do anything, there is a look back period in
Colorado for evading leans. You don't have to have it filed,
although that would be even better, But the fact that
you put him on notice can make that a fraudulent transaction.

Speaker 5 (47:07):
If he tries to lessen his equity.

Speaker 13 (47:09):
Shouldn't he try to file a criminal complaint, Tom or not.

Speaker 5 (47:13):
Well, actually that's a that's.

Speaker 4 (47:15):
A good that's a good idea, sus Kyler. What about
what about that? I mean, he stole the money. I
think what they might say, sus if you'll remember rightly
and Mark, I had someone in my organization, in our
organization that bought wine and pot and all kinds.

Speaker 13 (47:35):
Yeah, she wasn't a partner.

Speaker 5 (47:37):
No, no, she wasn't.

Speaker 4 (47:39):
But still what they said was the police said, well,
did she have authority to use the credit card?

Speaker 5 (47:48):
Yes?

Speaker 6 (47:49):
And I think I think the guy, I think you
could actually give him a ten day notice to lean.
And I think long as you're going to hire an
attorney and follow the timetable of actually going to court,
that's going to create the court date. So I don't
think that would be a problem as long as the

(48:09):
betterment to the property was done in the last sixty days.

Speaker 5 (48:13):
Are you even in that timeframe? Mark is a sixty
or one hundred twenty days?

Speaker 6 (48:18):
Now you got to bring up you basically got to
bring him to court and get the judgment by one
hundred and twenty. But you can only really lean the
property if the goods or services were.

Speaker 5 (48:28):
Done and in the last are you sure at sixty day?

Speaker 6 (48:31):
It is sixty days, sixty or ninety.

Speaker 4 (48:34):
Okay, so Kyler, hold on, we got to take this break.
I'm Tom Martinez three or three seven one three eighteen
five five.

Speaker 5 (48:39):
Listen.

Speaker 4 (48:40):
Frank Duran is here along with lovely Stephanie Thomas and
John Clays.

Speaker 5 (48:45):
We're going to be talking about real estate.

Speaker 4 (48:46):
I am getting your text just so you know, so
don't fret. We will be talking about real estate as well.
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Speaker 5 (49:47):
Help.

Speaker 4 (49:47):
durand the real estate man dot com to list your
sixteen twenty two. Hey, Tom Martina here with Mark Major
and the gang at the studio speaking at which Oh,
by the way, so Kyler, I, like I said, I'm

(50:12):
not sure you can lean a house just on the
suspicion to use the business funds. But I do have
some questions Kyler. Does he deny it? Does he deny
that he used this money for himself?

Speaker 5 (50:24):
Yeah?

Speaker 16 (50:24):
At this point he's staying silent. According to our franchise docs,
he has the option to hire his own accountant to also.

Speaker 8 (50:33):
Verify our audit.

Speaker 13 (50:35):
And how much did how much money has he used
his totals?

Speaker 4 (50:39):
Yeah, that's a good question, totally.

Speaker 8 (50:40):
How much for the few years that we've done this,
that was just from twenty seventeen to twenty twenty three,
twenty four, it's about eight hundred thousand dollars.

Speaker 4 (50:49):
Ho. Wow, Now why didn't you notice it before this? Oh?

Speaker 16 (50:56):
Because we're from out of state, and we would ask
him for you know, records, and he would always say
that company is doing poorly. But we also found out
when we did ask him to send us records that
they were false, like, for example, we had a fake
twenty twenty tax return that didn't match up with his
real taxes. And so he was kind of bait ness

(51:19):
because we were far away and didn't have an outcomer.

Speaker 4 (51:22):
How long ago? How long ago did you establish the company?

Speaker 8 (51:27):
Nineteen ninety five, sir?

Speaker 5 (51:29):
Ninety five?

Speaker 8 (51:31):
About thirty years ago plus?

Speaker 4 (51:32):
Yes, sir, okay, so you've been in business for thirty
years now? Have you been splitting profits yearly since then?
And all of a sudden it stopped? What happened?

Speaker 8 (51:43):
Yeah, we according to our agreement, you know, we have
a certain percentage that we get from this gentleman and
his our company. And as as we went through COVID,
there was the excuse of, you know, a campaign the rents,
you know, so we gave him a a break in
the rent you know. We worked with the guy, you know,
and we made sure he stayed in business. And I

(52:06):
think he took advantage of us knowing that we were
going to work with him again and again. But when
we found out that he had a ten ninety nine
and he put his two kids that were twelve thousand
bucks each on this business and they did no work.
You know, my accountant just went through the roof. He says,

(52:27):
you know that no one can do that to your
your company.

Speaker 4 (52:31):
Kyler, this is terrible, Kyler, this is terrible. I want
to ask you something. Are there any other partners or
just the two of you?

Speaker 8 (52:39):
It's just the two of us and.

Speaker 4 (52:41):
You only own you only own a third of it. Right,
he's a majority owner.

Speaker 8 (52:46):
Oh no, this is my corporation. I started. You know
the part I thought you said.

Speaker 4 (52:51):
I thought you said thirty percent somewhere. Maybe I'm wrong, Okay, no, sir, So.

Speaker 5 (52:55):
So you're entitled to half of the proceeds. Yes, there.

Speaker 16 (53:00):
And in addition, I was trying to make this a
little juicier for us, is he works from home and
he has a home office. But again he's been paying
off his mortgage and far too many liberties. Is there
any way that we could use the actor that he
actually uses his home for business, but to make that

(53:20):
or make this lean more legal?

Speaker 6 (53:23):
Or when did he do the work at the house man.

Speaker 5 (53:26):
Let's get an attorney out by the way, he.

Speaker 8 (53:28):
Books us, Yeah, he books he books his clients, you know,
for the event center that we have.

Speaker 6 (53:34):
And when when did he do, like the upgrades on
the house with the company money.

Speaker 8 (53:39):
So we just found out and within the past couple
of years, and well we're still in the investigation stage
of that.

Speaker 6 (53:45):
Well with the lean, just going back to your original question,
the lean's going to have to be four months. So
if it if it hasn't been, if it's been more
than four months, you already missed the window from when
he's done the upgrades. In order to go the lean route,
would have to sue him within six months. Then you
get to judgment and then.

Speaker 5 (54:04):
Then you put the lean on.

Speaker 13 (54:05):
But he can still sue him.

Speaker 4 (54:07):
He could just can't because he just discovered it though,
we just discovered fraud.

Speaker 5 (54:13):
Yeah.

Speaker 4 (54:14):
File a criminal complaint, yeah, but once again, you're not
going to nobody's going to pursue this as a crime though. Guys,
they're going to say it's a civil matter because he
had authority to.

Speaker 5 (54:26):
Use the money. They don't get into contract law here.
They're going to.

Speaker 4 (54:31):
Say, did he have authority? Technically he did.

Speaker 6 (54:34):
He's going to have to hire an attorney man.

Speaker 5 (54:36):
Oh yeah, for sure.

Speaker 16 (54:37):
Now question my next question. I'm not around here, could
you guys, Yes, just do a little consultation and keep.

Speaker 5 (54:46):
In mind you can.

Speaker 4 (54:48):
I can tell you who to call right away. My
business attorney, Mark knows him. This guy is a no
nonsense and he has a firm and if he can't
do it personally, he's the managing partner. He can give
it to someone. His name is James Kilroy. And I'm
telling you that that I don't know. I don't know
of anyone better. I've used him for so many years. Mark,

(55:11):
you remember Jim right, Yeah, he's he's a he's a
great guy. Do you have any recommendations, Mark, not for what.

Speaker 6 (55:17):
He's referring to.

Speaker 5 (55:18):
I do not.

Speaker 4 (55:20):
Okay, let me give you the number at at Kilroy. Okay,
it's uh three oh three six three four sixty four
two thousand and five two zero zero five.

Speaker 8 (55:40):
Golden.

Speaker 5 (55:42):
All right, So you call this guy.

Speaker 4 (55:45):
He can either do it himself or he'll have someone
in the firm that could do it. James Kilroy, he's
he's a great business attorney and he's very aggressive when
he needs to be.

Speaker 16 (55:56):
And I do one more question before you let me go.

Speaker 5 (55:58):
Of course, of course you can.

Speaker 8 (56:00):
In so, my franchise doc says that if we find
fraud or or these situations that we're gonna we're gonna
take over the franchise, and we're not ready to do that.
We're going to send him a.

Speaker 16 (56:11):
Process server the next couple of days. So can I
go ahead and what we found out, what you just said, Tom,
have legal action including your home on this document, even
though it's not anything to do.

Speaker 8 (56:26):
With the fraud.

Speaker 4 (56:27):
What Jim will probably do is file something and even
maybe an emergency motion to have a receiver take it
to sort through it, and it would be I don't
know if they would just give it to you, but
they might appoint a receiver. You need to get a
hold of an attorney immediately, okay, because he could already
be doing some stuff behind the scenes.

Speaker 16 (56:49):
Okay, Well, I will stop the process server until I
talk to mister Pilroy for sure. Thank you, Yeah, thank
you very much, guys.

Speaker 4 (56:57):
Thank you very much for any he's I believe he's
with the Snell The name of the firm is Snell
and Wilmer, and they're they're wonderful Snell and Wilmer.

Speaker 5 (57:06):
All right, we got more coming right up.

Speaker 4 (57:12):
Go with a sure thing Denver's best roofer Excel Roofing
dot com.

Speaker 5 (57:16):

Speaker 4 (57:19):
Wait 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.

Speaker 5 (57:32):
Help.

Speaker 4 (57:32):
durand the real estate Man dot com to list your
sixteen twenty two. Hey Tom Martino here, Welcome to the show.
Three O three seven one three talk seven one three

(57:52):
A two five five. VICKI, you have an issue with
a rental home. What's going on?

Speaker 5 (57:58):
Vicky?

Speaker 2 (58:01):
Okay? I rented to a woman with three children who
was on.

Speaker 8 (58:10):
Section eight.

Speaker 5 (58:11):
That was last.

Speaker 4 (58:13):
November, and she had a woman, a woman and two kids.

Speaker 5 (58:19):
Three okay, So.

Speaker 2 (58:22):
What happened, Well, her father, you know, they the parents
came over and you know, the family came over to
look at the house and talk to me, and they
seem to be nice people. And he said, the father
said he would help with the yard and stuff that
she couldn't do. And well, was.

Speaker 4 (58:43):
Well done, though, But was it written in the lease?
Is this a single family home?

Speaker 2 (58:49):
It's a single family home and she lives.

Speaker 4 (58:51):
Okay, I just said, is it a single family home? Okay,
it's a single family home. Was it written into the lease?
Who takes care of the landscaping?

Speaker 8 (59:00):
Yes?

Speaker 4 (59:02):
Okay, it was supposed to be them, and it did
say that, Okay, ron skate landscaping.

Speaker 2 (59:09):
I said, lawn, Okay, that's.

Speaker 5 (59:11):
Fine, Okay, keep going.

Speaker 2 (59:13):
Yeah. So there's a couple other things they wanted fixed,
and so I paid him to do those things in
January and during.

Speaker 13 (59:26):
December.

Speaker 2 (59:27):
In January, I was working on another house, so he
said he would be willing to help me with that
one too. I owned two houses.

Speaker 5 (59:36):
And who is he? Is that the dad or is
that the dad.

Speaker 8 (59:38):
Of the of the girl? Father?

Speaker 5 (59:41):
Yeah, okay, got it.

Speaker 2 (59:43):
So I paid him to do a few things. His
work ended up being pretty bad and he was charging
me a lot of money. And so by the end
of January, we hadn't even started on the inside, and
I told him I needed to find somebody else, okay,
because he was he wouldn't get their tell late in
New day.

Speaker 5 (01:00:03):
Okay, yeah, so the guy, the guy, the guy turned
out to be a dead beet. Where are we going
with the story on this? Did he put a lien?
Did he put a lien on any of your properties?

Speaker 2 (01:00:14):
No? Okay, I paid him everything he I paid him money.
He never did the work for even so, then stuff
started being broken at the house where the girl was living.
They broke into the garage and you know, broke the

(01:00:37):
rock on the garage and they broke the Uh and
who was they anyway?

Speaker 5 (01:00:47):
Who did the breaking?

Speaker 2 (01:00:49):
He said that somebody else did it.

Speaker 5 (01:00:51):
Uh huh.

Speaker 4 (01:00:53):
And suddenly it was right after you stopped using him
that all of this started happening.

Speaker 16 (01:00:59):
Right, It's okay.

Speaker 2 (01:01:01):
And they complained about they complained about the roof and
you know, various things, just some little thing.

Speaker 8 (01:01:11):
All the time.

Speaker 2 (01:01:12):
She wanted to she wanted a new garage door opener.
And when I didn't give that to her, she, Uh,
that's when the garage the work got broken into, and
when the fence gate got broke. Anyway, it went on,
and so I called her.

Speaker 4 (01:01:33):
Are you pretty are you pretty much convinced? Are you
pretty much convinced? They're doing this on purpose as like
a get back at you.

Speaker 2 (01:01:44):
Yes, he wanted me to. He wanted to make money
off of me. He wanted to he wanted to me
to pay him to.

Speaker 4 (01:01:52):
Do you have any kind of proof that they were
doing it? Do you have any kind of evidence or
proof that they were damaging your property?

Speaker 2 (01:01:59):
Anyway I could? Yeah, there wasn't any way I could
prove that. But I did call her caseworker and told
her what my suspicion. Right, A couple other things happened. Oh,
then the plumbing started going bought bad, and so I
ended up spending four thousand dollars for somebody to come
and spend fix the plumbing. And she had a couple
people out, and then I had a couple people out,

(01:02:21):
and finally my handyman stuck his hand down the sink
and there was six popsicle sticks in there, and that
was the problem. But I had spent four hundred four
thousand dollars on that point.

Speaker 4 (01:02:31):
Wait a minute, So it went four thousand dollars before
someone figured out it was full it was popsicle sticks.

Speaker 14 (01:02:39):
Yeah, wow, and how much total?

Speaker 4 (01:02:43):
Let me let me ask you this, how much total
on just that house alone.

Speaker 5 (01:02:48):
Have you spent since they moved in?

Speaker 8 (01:02:50):
Yeah?

Speaker 2 (01:02:50):
The problem, that's what the problem ended up being, is
that by the by June, I had spent twenty four
twenty four hundred or twenty four thousand dollars on sixty No,
I had spent twenty four thousand dollars everything that I
was going to make on rents that year. I had
already spent by June by by just on that home.

Speaker 5 (01:03:15):
Just on that home, and the damages have home.

Speaker 4 (01:03:18):
Holy crap, why don't you evict them?

Speaker 2 (01:03:22):
Well, so that was my next thing. First though, they
got the county after me to fix a couple of things.
They had a whole list of things, nothing real, big
or anything. And I fixed all those things. And so
then I asked AI if I had what I could do,

(01:03:43):
and it said to go ahead and give them a
notice to quit. So I did that.

Speaker 5 (01:03:48):
So then how long is your lease? By the way,
how long is your lease?

Speaker 2 (01:03:52):
It's for one year?

Speaker 5 (01:03:54):
When does when is it all.

Speaker 2 (01:03:56):
The end of this? That'll be the end of November.
But when I when I gave them to notice of
quit in August, then they wanted to negotiate time to
get out. So she signed a recision of leash and

(01:04:17):
she's supposed to be that out October thirtieth. But the
casebooker said I was going to need an attorney to
get her out.

Speaker 16 (01:04:25):
Probably probably.

Speaker 2 (01:04:29):
I mean I've done a Rappahoe County before. I've evicted
a couple of people.

Speaker 4 (01:04:33):
Now, you said the tenant signed something. What did you say?

Speaker 2 (01:04:36):
The tenant signed a recision of leash agreement?

Speaker 5 (01:04:41):
Really you got her to sign that?

Speaker 2 (01:04:44):
Well?

Speaker 16 (01:04:45):
She had made a mess.

Speaker 2 (01:04:46):
I had pictures of her. Her and her kids had
scribbled on the off walls inside and even the signing outside.
They were you know, they were.

Speaker 4 (01:04:57):
Making So what is your goal right now with this call?
How can we help you?

Speaker 2 (01:05:03):
Okay? What I need is if I need an attorney,
can you refer me to us?

Speaker 8 (01:05:07):
Yes?

Speaker 2 (01:05:08):
Yes, call a bunch of numbers, and I don't really
get anywhere. I certainly don't want to spend ten thousand
dollars to get this woman out. But might cost you.

Speaker 4 (01:05:18):
Listen, it might cost you a lot of money if
this woman decides to stay, because you have to have
what's called just cause. If you had a one year agreement,
And that's why getting a good real estate attorney can
help you avoid stuff like this.

Speaker 5 (01:05:35):
Hold on, we'll come.

Speaker 4 (01:05:36):
Right back to you with a recommendation, okay, and then
see where we go from there. But we have a
recommendation of someone who's effective. However, I have to warn
you right now, in the state of Colorado, and especially
in Denver, the rental market and the rental rights are
skewed toward tenants one thousand percent. Landlords are losing their rights.

(01:06:02):
I promise you it's going to be very difficult. It's
not a simple eviction anymore. There are all kinds of
things and hoops you have to jump through. We'll talk
about it coming right 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

(01:06:28):
up free, no obligation. In 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.
durand the real estate Man dot com to list your
home with Remax Alliance three three nine two zero sixteen
twenty two. Hi Tom, Martino here, welcome to the show,

(01:06:55):
along with Moron, Mark Major and and we're here just
discussing life, liberty and the pursuit of happiness and let's talk.

Speaker 5 (01:07:08):
We do what's on your mind?

Speaker 4 (01:07:10):
We did, no, no, We got to take Vicky first
run out of time and then we'll go back to
your poll all when we're not on the air. Hey, Vicky, Vicky,
listen seriously on this rental home. You need a You
need Brad O'Brien. He's a real estate attorney, and you
need to do this by the book because it's really

(01:07:32):
really getting bad out there when.

Speaker 5 (01:07:34):
It comes to being a landlord.

Speaker 4 (01:07:35):
And his law firm is O'Brien Legal Services, So it's
it's do you want to take his number down? It's
seven to zero three seven zero seventy three eighty eight.

Speaker 3 (01:07:56):
Okay, it's it's.

Speaker 5 (01:07:58):
A shame right now.

Speaker 4 (01:07:59):
I'm seriously, and I'm a consumer advocate, and I used
to hate that tenants had no rights, but as usual,
the government overreacted in Colorado, and now tenants have more
rights than landlords. And it's almost impossible, seriously to get
rid of a tenant and even more impossible to try

(01:08:21):
to collect damages. It's getting to be where I would
never be a landlord, never be a landlord in Colorado.

Speaker 5 (01:08:28):
Ever. It's a bad thing. It's just bad now.

Speaker 4 (01:08:33):
There are many other markets around the country where it's
advantageous to be a landlord. Denver and Colorado is not
one of them. So if this person did damages now,
Section eight also has a way to collect damages. They
usually make people. If you can prove that she did

(01:08:53):
the damages, they will make that person pay back the
landlord on a payment plan, or they will take them
off the Section eight system. Did Section eight offer to
help you?

Speaker 2 (01:09:07):
No, says someone that tell me I needed an attorney.
I think she didn't want to talk to me anymore
because the other woman is her client.

Speaker 4 (01:09:16):
I'm not so I don't know if she go with
a sure thing Denver's Best Roofer Excel roofing dot com.
You don't pay a cent until you're content, wait time
for an insurance checkup free, no obligation. In comparison, call
Compass insurance paying too much your coverage at dozens of
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(01:09:37):
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.

Speaker 1 (01:09:53):
Rift you.

Speaker 5 (01:09:57):
So you don't have, just as we can.

Speaker 1 (01:10:04):
Shooter's gonna help coming.

Speaker 3 (01:10:07):
Man, This is the Troubleshooter Show. No Tom Martinez.

Speaker 4 (01:10:12):
Hello, I'm Tom at the satellite studio Major Mark Major.

Speaker 5 (01:10:18):
What do you got going on at the main ship.
I'll tell you this, man.

Speaker 6 (01:10:22):
We're gonna be talking loans, loans and homes and homes
with Frank durand the real estate Man Stephanie Thomas, John
Clace with CMG. By the way, can you imagine having
enough money to lend out two billion dollars a month? Tom,
I mean there's a lot of people that are nothing
but middleman.

Speaker 5 (01:10:41):
I mean that's really true, isn't it. John? Most people, most.

Speaker 4 (01:10:44):
Of your competition, right, go directly to you guys and
other big companies like that.

Speaker 9 (01:10:50):
So, yes, they do.

Speaker 5 (01:10:51):
Tell us what the industry tell us how it works,
we do. We most of them are brokers, right, John.

Speaker 9 (01:10:56):
Most are brokers, you are correct.

Speaker 6 (01:10:57):
Well, they mark up the points, they mark up the
fees and just resell it.

Speaker 10 (01:11:01):
Well, yeah, what they'll do, is they get a broken
rate sheet. There's a wholesale rate sheet in a retail
rate sheet, you know when we have a wholesale department,
but a lot of the direct underwriting and all that
is all in house for us, and the fundings all us.
When you're a broker, you know you're getting the people
to the closing table, but you're relying on the other

(01:11:22):
company to wire the funds in.

Speaker 6 (01:11:23):
Yeah, and it takes forever when Miles dealt with them,
So Tom, when Miles dealt with John, from application to
closing was less than twenty days. In fact, he had
it funded out there in Nebraska. He loans in every state.
He added actually funded to the closing house out there
or the closer within fifteen or sixteen days.

Speaker 5 (01:11:46):
It was that fast. I mean, if the underwriter needs.

Speaker 6 (01:11:49):
Something, my god, the guys like in the office next
to John, you don't have to go through four people
to talk to the underwriter.

Speaker 5 (01:11:55):
It's crazy.

Speaker 9 (01:11:55):
And that does help.

Speaker 10 (01:11:56):
It's really good because the mortgage is when you have
to on third party information and it adds a lot
of time, a lot of time.

Speaker 5 (01:12:05):
Oh yeah, oh yeah.

Speaker 6 (01:12:07):
So and then hold on, I want to ask you
to this so Frank and Steph. You guys, when you
guys sell a home or one of your clients is
buying a home, you guys go to closing. Have you
ever been out closing and everybody's sitting around and the
money hasn't got there yet? I mean, does that actually
happen or they have it set like on a Tuesday

(01:12:27):
and nothing's been done on Monday.

Speaker 5 (01:12:30):
I mean, is it all the time or well, yeah.

Speaker 12 (01:12:32):
There are many times we wait for funding, so having
funds there early is really huge.

Speaker 8 (01:12:37):
Mark.

Speaker 11 (01:12:37):
I had one many years ago where the gentleman it
was buying got in a fight with his investor, banker
or whatever at the closing table, and the buyer got
up and says, I'm not closing, forget about it.

Speaker 5 (01:12:50):
And we said, sir, you're gonna lose your earnest money.
Says I don't care and slam the door right it closing.
Oh my god, pretty rare. But yeah, I've seen how
much was the earnest you remember.

Speaker 11 (01:12:58):
Oh, back then, maybe about five grand God, that's crazy
and he didn't care.

Speaker 4 (01:13:03):
By the way, guys, us housing inventory is approaching the
largest levels since the major financial crisis, and it's saying
right now that we have the number of unsold and

(01:13:25):
constructed homes are way over one hundred and twenty thousand,
well actually, and the highest level since two thousand and
nine the Great Recession.

Speaker 5 (01:13:37):
Did you know that around the country. We might not
be having.

Speaker 4 (01:13:40):
That here, but it is truly what nearing crisis levels
around the country. Can we blame it all on interest?
On high interest? Can we truly, guys, what is your gut,
John Clace in the lending business, Can we blame it
all on rate?

Speaker 9 (01:14:00):
I mean rate had a lot to do with it.

Speaker 10 (01:14:02):
I mean when you're qualifying people and you're qualifying for
a four hundred thousand dollars home and now all of
a sudden, it's six hundred thousand year debt to income,
I mean yeah, I think a lot of it is
to do. And then you know a lot of people
are not selling because they're staying in the house with
their rate. But right now, I do think.

Speaker 4 (01:14:22):
This article in Newsweek says that there is not one
market that is considered a seller's market in the country
right now, not one considered a seller's market, meaning buyers
are in control. And now we're we're not in that group,

(01:14:43):
right is does Denver always do better than the national stats.

Speaker 11 (01:14:48):
Well, I don't know if I could label the word always, tom,
but I would say, you know, for the most part,
that's what I see, and it is it is price
point to price point.

Speaker 5 (01:14:57):
Area to area.

Speaker 11 (01:14:58):
But I would say in general, it's been still prices
still remain strong in Denver toime, we haven't seen like this.

Speaker 5 (01:15:03):
It's not like prices are crashing, but they have softened
a little bit.

Speaker 4 (01:15:07):
Well, let's so median sales around the country, median sale price. Now,
median means the equal number above and below. It's not average,
it's median. And it's four hundred three tho eight hundred dollars.

Speaker 5 (01:15:23):
Yeah, and here we're like, what, frank, six fifty six?

Speaker 4 (01:15:26):
Yeah, right now, wait a minute, that's the median price
here in Denver six point fifty.

Speaker 5 (01:15:31):
No, No, the median right now is five eighty nine
nine hundred.

Speaker 4 (01:15:34):
That's the most recent DMARD report. Right, that's pretty quick.
That's I mean, that's pretty close. So here's what here's
what I want to know.

Speaker 6 (01:15:42):
Wait, I want to go back something you just said,
a seller's market. What define that? How does that change? Like,
there's more, there's more than thirty days of inventory.

Speaker 5 (01:15:52):
What defines a seller or buyer?

Speaker 4 (01:15:55):
Stephanie, Stephanie, what would you say defines a seller or
a market?

Speaker 12 (01:16:01):
So the rule of thumb that we get told, essentially
is is no inventory to three months of inventory does
tend to be seller leaning. That three to six month
mark tends to be balanced, where that six month mark
plus tends to favor the buyer. And I know you
know where I am. We're kind of sitting around that

(01:16:21):
three month mark. But here's the thing. I do feel
like there are some factors that are creating those longer
days on market. I think the perception that interest rates
are really really high.

Speaker 13 (01:16:31):
Yes, rates are higher.

Speaker 12 (01:16:32):
So yeah, I mean that absolutely has affected us, you know,
across the board. But I think the perception is and
I have people ask me sometimes our rates still seven
and a half and eight and John mentioned earlier they
were potentially around you know, low sixes, all credit dependent,
but I think it's higher.

Speaker 4 (01:16:49):
I coined the phrase years ago perception onmics yep, because
perception can be everything. In fact, perceptions can.

Speaker 5 (01:16:58):
Actually cause a recession.

Speaker 4 (01:17:02):
Do you know more and more people right now, gen
Z they're renting, they're they're they're not even trying to buy. Uh,
And more and more people are renting. Here's the thing, though,
the rental market is dwindling as well.

Speaker 5 (01:17:19):
There are fewer landlords.

Speaker 4 (01:17:21):
Landlords are tossing up their hands saying, you know, they
don't want to rent anymore.

Speaker 5 (01:17:25):
It's too much of a hassle.

Speaker 4 (01:17:27):
And they they find it hard to break even with
the rates the way they are. So I'll venture to
say this, there are probably no fix and flippers anymore.
Can you think of any guys anybody?

Speaker 12 (01:17:41):
Yeah, not in depth, even in the springs, Like, I
don't see that being a real prevalent market right now.

Speaker 10 (01:17:48):
Arizona's gotten killed. That's where there are a ton of
them down there. They're all throwing the keys back to
those hard money lenders.

Speaker 5 (01:17:55):
Oh my gosh.

Speaker 4 (01:17:57):
So so anyway, what about what about the rate? Where
do you think it has to come to where we're
going to see a big, big difference. I think if
you get below five, all hell breaks loose.

Speaker 10 (01:18:09):
Oh guaranteed, yes that if they're below five, I think
even and I think we're going to be there soon,
but even five, seven, five, Once you get below and
in the fives consistently, I think it's going to flip
a switch with a lot of people are going to go.

Speaker 4 (01:18:23):
Oh yeah, five five seems to be a magic number,
like four point eight. Four point nine sounds better than
five point eight.

Speaker 5 (01:18:30):
I mean it's not just.

Speaker 4 (01:18:31):
Because the number is smaller, but for some reason that
mental block seems to be five percent. You know, things
under five percent are going to go crazy. I mean,
not things, but the housing market will go crazy. By
the way, I looked up the best fix and flip
markets for this year that we're in. Fayette Pville, Arkansas

(01:18:53):
was number one. That by analysts, number one for our babe,
and that was written by Oh is that what it is?

Speaker 5 (01:19:02):
There?

Speaker 4 (01:19:02):
Fay at phil Arkansas. Anyway, Charlotte, North Carolina a really
good fix and flip market, and believe it or not,
Atlanta the suburbs surrounding Atlanta, Georgia. And this one I
would never see coming Sacramento, California.

Speaker 5 (01:19:21):
I didn't think anything.

Speaker 4 (01:19:23):
In California could be a big, a good And there's
another one Fresno, California. So anyway, Denver is among the
worst fix and flip Marcus on this list among the worst.

Speaker 6 (01:19:36):
I was looking listen to this seventy two percent of
Gen X, that's my generation owns homes.

Speaker 5 (01:19:43):
That's amazing, seventy two percent.

Speaker 6 (01:19:46):
And then I was looking up Tom's generation, the Lost Generation,
and there's not nearly as many.

Speaker 5 (01:19:53):
That's crazy to me.

Speaker 4 (01:19:55):
I am still the baby we're baby boomers, right, That's
what I am. And you know, the last of the
baby boomers, as far as I thought.

Speaker 5 (01:20:03):
You're in the Lost Generation? No, what is I don't
know what that means? What does that mean?

Speaker 9 (01:20:08):
Silent generation?

Speaker 6 (01:20:09):
The Lost Generation is defined as ye as the cohort
born between eighteen eighty three and nineteen hundred.

Speaker 4 (01:20:16):
Oh oh funny, Yeah, okay, all right, we have a
question about lending John Place the all in one loan.
Let's let's before we go into this question, let's just
define it. An all in one loan is a thirty
year line of credit on your house. You can borrow
it up and pay it down at will. And you

(01:20:37):
and every dime you have with the bank, with that
bank that has your mortgage, every dime is swept overnight
to reduce your principle and your average daily balance.

Speaker 5 (01:20:47):
Is that about it?

Speaker 9 (01:20:48):
That's about it.

Speaker 10 (01:20:49):
And you think how much money you run through your
checking account in your lifetime and.

Speaker 4 (01:20:52):
Yeah, yeah, so you can actually effectively buy down the
rate without doing anything, just keeping all of your excess
money that you might have.

Speaker 5 (01:21:01):
A lot of people have a lot of money in.

Speaker 4 (01:21:02):
A checking account they never use, you know, and it's
not like that money is frozen, it just sits there,
but every night is counted against your average daily balance.

Speaker 10 (01:21:13):
That's what really makes it is the sweep checking account
is what really makes this loan stand out above all others.
It's that money doesn't you don't even you don't have
to even do it. It does it for you. It automatically
sweeps back and forth.

Speaker 4 (01:21:26):
Okay, so this texture wants to know. Has John ever
had people who actually get this loan just to have
their house loaned up and have money available and the
convenience of having the money available rather than having to
sell stock or liquidate things.

Speaker 9 (01:21:47):
All the time.

Speaker 10 (01:21:48):
It's a big factor for people that do it for
that reason. And also Tom as you know, with what
you do, the sequence of taking your money out of
the market, it can yes and kill you, right, this
can stop that.

Speaker 6 (01:22:00):
We've had John did our all in one probably five
years ago, and we have the house paid off and
we have had that line of credit in place, and
it'll be in place for the next thirty years. And
what's the coolest about it When we've been shopping around
for a second home in Louisiana and another places.

Speaker 5 (01:22:20):
It's all a cash deal. Tom. You don't have to
go out and right well, now you just write a check. Now,
the question is this, Does it cost.

Speaker 4 (01:22:29):
Mark ensues every year just to keep that open line
of credit?

Speaker 5 (01:22:33):
What charges are there? There must be something.

Speaker 10 (01:22:36):
Sixty dollars a year to keep it open. If you
have a zero balance, theer's zero interest cost. Obviously you
know if your wire funds there's a wire fee. But
literally it's sixty dollars a year. We waive the first
year on the on the loan.

Speaker 4 (01:22:49):
That's somebody wants to know. Can you get an all
in one loan commercial building?

Speaker 10 (01:22:55):
We do not do among commercial buildings, but sweep loans
are pretty pretty common in the commercial space.

Speaker 9 (01:23:02):
But not no, so we don't.

Speaker 4 (01:23:03):
But CMG doesn't do commercial no, nope. Okay, one is
for Stephanie. They want to know if Pueblo is still
a good market as far as lower prices.

Speaker 12 (01:23:16):
Yes, I actually see a lot out in Pueblo that
your dollar goes a lot further.

Speaker 13 (01:23:23):
I can give you a great example.

Speaker 12 (01:23:25):
I've got a listing here that is on one point
two acres. It's a four bedroom, three bathroom, twenty two
to eighty square feet you know, stucco exterior, really nicely finished.
And we had that listed at three eighty nine nine
hundred wow.

Speaker 13 (01:23:42):
Yeah wow.

Speaker 5 (01:23:43):
So there are still deals to be found in the
Pueblo area, are you know?

Speaker 12 (01:23:47):
I've I've got another one that's essentially it's kind of
an enigma.

Speaker 13 (01:23:51):
It's the best of both worlds.

Speaker 12 (01:23:53):
It lives like a single family structure, full sized lot
like you would expect in a neighborhood, and completely unattached
but legally a town home due to some burbage on
the legal description about shared ownership interest of common areas.
That one is just under sixteen hundred square feet three
two really nicely finished, and that one's at.

Speaker 13 (01:24:13):
Two ninety two five hundred wow.

Speaker 12 (01:24:16):
So yeah, okay, we can definitely, you know, we can
definitely Your dollar will go further there for sure.

Speaker 4 (01:24:21):
So real quick, Frank, what areas of the metro area
would be better buys like that?

Speaker 5 (01:24:27):
Values?

Speaker 11 (01:24:28):
Boy, Tom, great question that that is so subjective because
it depends on price.

Speaker 5 (01:24:33):
But I'll tell you what I'll I'll tell you what
I'm Frank.

Speaker 4 (01:24:36):
I'll tell you what I need to take this break.
But then when we come back, I would love for
you to address some of the hotter spots. When I
say hotter, I mean where there are still deals to
be found in the metro area.

Speaker 5 (01:24:49):
We'll talk about that and more coming right up.

Speaker 4 (01:24:55):
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to list your home with Remax Alliance three oh three
nine two zero sixteen twenty two. You know there's a
way to solve the rental crisis. The guy running for
mayor who's leading the race in New York City says

(01:25:40):
he's just going to order landlords to pet to charge
less rent. They're only going to be allowed to charge
a certain amount for rent? How does that work? Exactly?
How does that actually work? Seriously, I'm asking, how does
it work when you own a property and you had
debt service on the property, and you have maintenance on

(01:26:00):
the property, and you have taxes on the property, and
the mayor of New York City gets a law passed
that you can only charge a certain amount?

Speaker 5 (01:26:13):
Well, how does that work?

Speaker 4 (01:26:14):
I mean, can that be done legally and mandate that
you lose money every single month?

Speaker 5 (01:26:21):
Well, I'll tell you what.

Speaker 4 (01:26:22):
He's not only leading in the polls, he's leading like
crazy in the polls. We're going to have our first communist.

Speaker 5 (01:26:30):
Mayor in America. How will that work? Maybe he'll teach
us all a lesson.

Speaker 4 (01:26:36):
He's going to mandate how much money people can charge
for rent. He's also going to mandate what certain restaurants
serve and how much they charge. He wants to mandate
all kinds of things. What do you think, Mark, what
do you think is going.

Speaker 5 (01:26:55):
To do in New York City?

Speaker 6 (01:26:56):
I mean, I don't know how much power he's going
to actually have, So, I mean, I just don't know, man.
I think the cops are going to be the one that,
you know, kind of set the tone down there. I
think they all turned their backs on him when he
went to a funeral. He's got en uphill fight, man,
I don't know how much power. Those are great questions
you have. Could like, could you know, Mayor Mike say,

(01:27:19):
if you have a house in Denver that you're renting out,
you can no longer rent it out for dollars. You
have to do it for free. I mean, is that even.

Speaker 5 (01:27:28):
Well like, yeah, I know what you mean.

Speaker 6 (01:27:30):
Well, what's the difference if it's ten dollars or if
it's you know, one hundred dollars. If you're paying three
thousand a month, who cares what the number is.

Speaker 5 (01:27:37):
You're losing money. I don't know.

Speaker 6 (01:27:39):
It's a great question. Can the government force you to
lose money every month?

Speaker 4 (01:27:44):
All right, here's a guy, here's the guy that texts
me every day and I sell them, read them, sell
them on the air. But he says the reason gen
X and many others can't afford to buy houses. And
by the way, I should mention this, he blames Trump
for everything. There's not one thing in the world, not
one thing. He doesn't blame Trump for it. Here he says.

Speaker 6 (01:28:05):
Trump, but jen X, I just seriously. They they gen
X seventy two percent of them own a house. So
the guys are moron.

Speaker 4 (01:28:13):
And he's saying that Trump and his cronies, private equity
firms like Blackstone scoop up properties, buying up and outbidding
the working class citizens so they can be forced them
to become renters instead of buyers. Now, how stupid can
you be? How stupid? Why would people scoop up rent,

(01:28:35):
you know, and force people to be renters instead of
buyers because they know that we'll keep the electorate, you know,
dumb and stupid. Another one, tell Mark, the buffoon that
sits next to you, that you can't use the term
big woman anymore. You can't use the term and it's
like calling a little person a midget. So but this

(01:28:55):
guy Mark every day, every single days as insults that
I never ever even read.

Speaker 6 (01:29:03):
But but he, well, think me, what a moron he is.
Seventy two percent of jen X owns.

Speaker 5 (01:29:09):
Let's just say his name is Monty.

Speaker 6 (01:29:11):
By the way, Monty, just look it up, bro, I mean,
how can you even make a comment so stupid? Okay,
I asked, I bet Monty's married to a big old gal.

Speaker 5 (01:29:22):
Now stop it.

Speaker 4 (01:29:27):
Okay, Now, Frank durand the real estate man, Well, I
can ask Stephanie too. This is a Frank, does the
government shut down effect at all? Is anything going on
in real estate affected by the government shutdown?

Speaker 8 (01:29:40):
Tom?

Speaker 11 (01:29:41):
If there has been, I haven't noticed it. I'm telling
you it would have to be very minimal. I've noticed
no affecting nothing in our business because we're still putting
homes under contract like usual.

Speaker 4 (01:29:51):
Because this guy said in Vegas for some reason that
closings are being.

Speaker 5 (01:29:58):
Affected, I have no idea. Why. Well, hold on, if
you have Federal, if.

Speaker 4 (01:30:03):
You have Fanny May and Freddie Mack and Jenny May
or whatever the hell they call them these days, could
that close a day? Can that shut it down by
getting those approvals?

Speaker 10 (01:30:12):
No, FAJA and VA are the ones that have trouble
with some of the fundings being released.

Speaker 13 (01:30:19):
Okay, can I chime into John, let me ask you this.

Speaker 17 (01:30:22):
So one of my lenders was just talking to me
yesterday about a v I'm sorry, an FAHA transaction, and
the concern is we wouldn't be able to get the
irs transcripts back, like verifications back.

Speaker 10 (01:30:34):
Uh, we haven't seen it yet, but yeah, yeah, that's
that is going to be a concern with all the verifications.

Speaker 4 (01:30:40):
Well, okay, somebody wants to know if homes at a
million or more are they selling?

Speaker 5 (01:30:45):
Because someone says here they're just sitting.

Speaker 4 (01:30:48):
Guys, what about how what if they call jumbo John Clace?

Speaker 5 (01:30:52):
What is jumbo considered a jumbo loane? How much?

Speaker 10 (01:30:55):
Well, they just raised the conforming limit starting now to
one hundred and thirty three thousand, seven to fifty so
typically we have a high balance, so typically anything over
eight to fifty nine hundred.

Speaker 4 (01:31:08):
Okay, guys, how are sales Stephanie and Frank in the
high dollar homes? And you know, it's amazing when I
say high dollar homes because when you see a million
dollar home nowadays, it shocks the living hell out of
you compared to what a million dollars bought you ten
years ago. So, guys, how are those houses selling eight
hundred and above?

Speaker 11 (01:31:29):
So, Tom, I will tell you this. In the million
to million five, we're sitting around four point five nine
months of inventory. But when you get over two million,
we're right around seven months of inventory.

Speaker 5 (01:31:38):
And I'll tell you something else.

Speaker 11 (01:31:40):
The attached market over two million, that's phenomenal that's like
thirty months of inventory. So that has shifted into a
true buyer's market for the attached market.

Speaker 4 (01:31:49):
So for big for when you say attached, do you
mean like condos and town homes?

Speaker 5 (01:31:55):
Correct?

Speaker 4 (01:31:55):
Yes, condos and town homes are there. Many marks, are there?
Many units with condos and town homes over a million dollars.

Speaker 5 (01:32:06):
Yeah, they're out there.

Speaker 11 (01:32:07):
I don't have an exact number right now, Tom, but
I'll say this, many of them are just sitting on
the market. So unless the sellers adjust reasonably for this market,
they're going to sit there a long time.

Speaker 4 (01:32:15):
I'm going to tell you I had a penthouse in
an unnamed property. I'm not going to mention it, but
it was during my very brief single days before Stephanie
and I hooked up. I had a con No actually no, no, no,
it was with Stephanie. We decided I was going to
keep a primary residence as well.

Speaker 5 (01:32:33):
Anyway, we put.

Speaker 4 (01:32:34):
This up for sale, and the guy was really pissed
at us because we listed it at.

Speaker 5 (01:32:39):
A certain price.

Speaker 4 (01:32:40):
We ended up selling for hundreds of thousands more than
it was listed, but the guy upstairs listed his higher
and actually ended up selling it for lower. We listed
it lower and ended up selling it for higher. And
to this day, Frank, to this day, because I'm in
touch with people there, we hold the record for resale.

Speaker 11 (01:33:04):
Is that something, Tom? Thank god we did. And it's
a funny thing though. I think your timing on that
was impeccable. What you sold it, I really do. I
think you thought ahead and I think you were very
smart to do that. Well, here's why I was smart.

Speaker 4 (01:33:16):
I was in the parking garage and a guy next
to me pulls up in this little, sporty, expensive car
and says, I'm selling. And I said why and he said,
because this market's going to drop like a ton of bricks.
And I said, Frank, what do you think? And you said, well,
you know it's possible. And I'll tell you here's what
happens with condos and townhomes.

Speaker 5 (01:33:38):
You're not just buying the unit you're living in.

Speaker 4 (01:33:41):
You're buying everything the h away and the management company
has tackled. And I am telling you it is a
market right now that is very much in trouble. When
you buy a place, you could end up without any
ill in tent, people not doing anything except living. You

(01:34:01):
could end up with assessments of thirty thousand dollars more,
and you can't insure against all of them. You can't
you can't possibly insure against just parking lots. All of
the ages of these condos and townhome developments are getting
to an age where repaving, painting, roofing, and all of
these expenses are going to come down to bear and

(01:34:23):
you can't just keep kicking the can down the road.
Eventually you're going to have to pay for this stuff.
And what's really amazing is how people go out and
protest against their HOA for raising rates. And they're raising
rates to pay for stuff where you live. It's like
protesting against yourself. It's not like the HOA board members

(01:34:45):
are going to Tahiti and taking money for themselves. They're
not even paid. They're voluntary positions. But this is the
problem with condos and townhomes. I'm just going to say
it very briefly. Everyone wants to pay low HOA fees. Everyone,
So if you're on the board, you're forced to try
to keep the fees low. But when an expense comes

(01:35:07):
up that cannot get that can no longer be delayed,
you have no choice but to assess the members.

Speaker 5 (01:35:15):
Then you have these moron members out.

Speaker 4 (01:35:18):
I remember Channel seven covered these guys protesting no more assessments.
What the hell does that mean? That's like me protesting
outside my house saying no more roofing costs. I mean
they don't understand they're living in a community and those
expenses are their expenses. There's no third party that can

(01:35:38):
take that off your back.

Speaker 5 (01:35:40):
You are inheriting everything.

Speaker 4 (01:35:42):
We got to take a break on, Tom Martine, go
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Speaker 18 (01:36:20):
This is Denver's Talk Station with Tom Martino Now dan
keplis today at four six thirty Khow Denver.

Speaker 6 (01:36:32):
No impact traffic from the Superstar and car Wash traffic Center.

Speaker 19 (01:36:37):
Hey, we do have a crash still working on sixth
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The way to Sheridan.

Speaker 19 (01:36:44):
Pretty heavy through their push left if you're stuck in
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What traffic up?

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Speaker 4 (01:43:11):
Hi Tom Martinez here, Welcome to the show. Three oh
three seven one three eight two five five.

Speaker 5 (01:43:16):
I don't know what this has to do with real estate, but.

Speaker 4 (01:43:18):
They asked me to ask my experts what they think
about the nine hundred and fifty million dollar bond initiative
for Denver, and this particular Texter feels it's going to
do wonders for everything it's going to We absolutely need
to pass it again. Any thoughts on this, I don't

(01:43:40):
really have any any thoughts on it? Do you guys
on the nine hundred and fifty million dollar bond mark?

Speaker 5 (01:43:46):
Have you been reading up on it? Yeah?

Speaker 4 (01:43:48):
He just needs more money. They got a budget shortfall. Yeah,
and the budget shortfall. Many people, the people opposed, are
saying it's too basically support the sanctuary city stuff, that
they are opening their arms to undocumented people and they

(01:44:10):
need more money for it.

Speaker 5 (01:44:11):
It's that simple. They need more money for it.

Speaker 4 (01:44:16):
Some people are proposing are saying that the initiative will
make housing more affordable. I have no idea how they're
connecting those dots, but in any case, Denver is going broke.
That's the truth of the matter. Denver's going broke now,
as far as the government shut down. We have another

(01:44:37):
text saying, do you know one of the things that
Democrats want to do is healthcare for undocumented people? And
another one says I had two about these saying that
the insurance health insurance for undocumented people will be for

(01:44:58):
little or no cost.

Speaker 5 (01:45:00):
Have you kept up on that?

Speaker 4 (01:45:02):
This is on someone's mind as far as the government shutdown.
I thought that the main hang up for the government
shutdown were the temporary help they put in during COVID
the subsidies for health insurance, and those subsidies were set

(01:45:23):
to expire, and Democrats want to keep them going. Healthcare
subsidies as far as premiums, again, it's funny to call
it the Affordable Care Act because it's anything but affordable.
But in any case, one of the key issues in
the government shutdown has to be the subsidies, because Democrats

(01:45:46):
are saying we need to extend the subsidies indefinitely so
more and more people can be covered by the Affordable
Care Act.

Speaker 5 (01:45:57):
Now think about that. Who pays for that?

Speaker 4 (01:46:00):
If we are going to extend subsidies for people who
can't afford health insurance, it's making health insurance less affordable.

Speaker 5 (01:46:07):
On the other end, does anyone ever do math?

Speaker 4 (01:46:11):
Maybe we ought to send calculators to Congress.

Speaker 5 (01:46:14):
By the way, stylist trends.

Speaker 4 (01:46:16):
Someone wants to know should they paint their repaint their
inside of their home if they're listing it. They have
many accent walls and design colors. What do you guys think?

Speaker 5 (01:46:29):
I think if it flows at the home, that's one thing.

Speaker 11 (01:46:31):
Otherwise, Tom, I say go neutral, because I'll tell you
white regardless in any decade, seems to flow well with
any home when you sell.

Speaker 5 (01:46:41):
This brings up a good topic.

Speaker 4 (01:46:42):
What are some of I looked at an article here
and I'm not completely in agreement with it, but what
things are turnoffs?

Speaker 5 (01:46:51):
Now?

Speaker 4 (01:46:52):
Now, you must hear people, and I know that some
people actually have their ring doorbell on or their cameras
in the house when people look at the house, so
they can hear what's on the person's mind. But Frank,
when you're showing a house to people, what are some
of the things or the most common things.

Speaker 5 (01:47:09):
Stephanie, you can chime in on this.

Speaker 4 (01:47:11):
What are some of the more common things they comment
about as not liking or are there things that they
always like? Let's talk about that. What would give me
give me one of the things that you would say, definitely,
don't do it. People don't like it. Okay, strong oders, Tom, strongolders.
That's the big one right there.

Speaker 11 (01:47:29):
And I had one one time we went into where
I think they were trying to cover up the odor.
They had those little plugins that made it even worse. Tom,
and it was just they want.

Speaker 5 (01:47:37):
Where did the odor come from?

Speaker 15 (01:47:38):
Though?

Speaker 5 (01:47:39):
Where was where was the odor coming from? I think
ultimately because they were heavy smokers.

Speaker 4 (01:47:44):
Oh that that could be a Nope, that could be
a deal break.

Speaker 5 (01:47:48):
Really and can you hunt?

Speaker 12 (01:47:52):
So sometimes if you use excessive plug ins or you know,
wax melts or anything kind of through your house, you know,
even if you like them and you're not trying to
hide an odor, people automatically assume you are. They automatically
assume something's going on.

Speaker 5 (01:48:08):
Okay.

Speaker 4 (01:48:08):
I want to talk about design flaws too that you
think definitely turn people off.

Speaker 5 (01:48:13):
More on that coming up.

Speaker 4 (01:48:20):
Go with a sure thing Denver's Best roofer Excel roofing
dot com.

Speaker 5 (01:48:24):

Speaker 4 (01:48:29):
Of it. Time for an insurance checkup 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 all three nine two zero sixteen twenty two.

Speaker 1 (01:48:55):
Rift need that you don't have. Come running just as
fast as we can. Shooter's gonna help.

Speaker 6 (01:49:08):
Come man.

Speaker 3 (01:49:10):
This is the Troubleshooter Show. Now Tom Martino.

Speaker 5 (01:49:14):
Hey, I'm Tom Martino. Welcome to the show.

Speaker 4 (01:49:18):
This hour brought to you by Wave eight Wealth Management.
That is the financial advisement firm I founded because I
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(01:50:30):
person anyway. Three three seven seven one help. I got
John Claig's with me partner in lending dot com, Frank
durand the real Estateman dot com and Stephanie Thomas Stephanie
r E dot com. We're talking about real estate and
lending and all of that, and we're talking about how

(01:50:52):
to move homes if holmes are stagnant.

Speaker 5 (01:50:55):
If holmes are stagnant.

Speaker 4 (01:50:57):
This one texter wants to know what all are the
ones that are not selling? What would you say if
you had to give me a composite, a picture of
a home that sits on the market. What would that
composite look like?

Speaker 5 (01:51:15):
You know what?

Speaker 13 (01:51:16):
I'll give you an example.

Speaker 12 (01:51:17):
I've I've got a listing right now that's been on
for a few months, but it's in a really unique
neighborhood in Colorado Springs. So that neighborhood has what's called
a leasehold, interest and title, meaning when you purchase that property,
you're only purchasing the improvements on the land.

Speaker 13 (01:51:32):
You're not actually buying the land itself.

Speaker 5 (01:51:34):
Oo.

Speaker 13 (01:51:35):
So you have a long term lease that.

Speaker 5 (01:51:38):
You have an aplane hangar.

Speaker 12 (01:51:40):
Yeah, so you're essentially, you know, kind of bound by
the community rules and regulations, you know, for a lease,
but you also are paying a substantial monthly fee there.

Speaker 13 (01:51:51):
So like for instance, this.

Speaker 12 (01:51:53):
One on a purchase price point of two hundred and
fifteen thousand, our monthly leasehold fee is seven hundred seventy
five dollars.

Speaker 4 (01:52:01):
So what do they get for that seven hundred and
seventy five dollars.

Speaker 5 (01:52:04):
They get the land, You get.

Speaker 13 (01:52:05):
That long term lease of the land.

Speaker 12 (01:52:07):
But there's also amenities in the community, Like with a
typical haa, we've got you know, a clubhouse, a pool. Oh,
there are a handful of things kind of wrapped up
into that.

Speaker 4 (01:52:18):
What they did, the developer developed this where he keeps
the land or she whatever. They keep the land and
the homes are owned by the people who put the
homes on there. But these leases are usually ninety nine years.
For example, we had a very long term lease on
the air on the airplane hangar land, but it's it's

(01:52:40):
getting down to like thirty years, and that's where you
have to start thinking about it.

Speaker 5 (01:52:44):
So how many years left on this lease?

Speaker 12 (01:52:47):
So at closing, the new buyer has to sign a
fifty year lease per the community. Oh and that's not
to say that you know, that's not indefinite.

Speaker 13 (01:52:54):
We do see some offset though.

Speaker 12 (01:52:56):
You know, your property taxes are actually less because your
personal property taxes on there are only for the improvements
versus you know.

Speaker 4 (01:53:04):
Uh, wait, so every owner, every owner signs a new
fifty year lease at purchase.

Speaker 13 (01:53:10):
Yes, so oh.

Speaker 4 (01:53:11):
So they're all expiring, they're all expiring at different times.

Speaker 12 (01:53:15):
Yeah, And I think the way it's set up essentially
is it's more or less, you know, fairly indefinite. But
at you know, closing, you are paying that or signing
a fifty year lease. And then the community of course
has pretty good rules and regulations. So I think anytime
we have something that's that specific or weird, Yeah, you've
got a very specific buyer weird looking at something like that. Yes,

(01:53:37):
that type of market we anticipate is going to move
a lot slower because you know, not all buyers are
going to be okay with that.

Speaker 13 (01:53:44):
Not all buyers are looking for that type of situation.

Speaker 5 (01:53:46):
It's just a little weird. It's just a little weird.

Speaker 4 (01:53:48):
So so okay, here here's here's another thing, Tom. You
mentioned frank you wanted to find good value areas in
the Metro and you.

Speaker 5 (01:53:57):
Didn't go back to it. So I'm going back to
it now.

Speaker 4 (01:53:59):
I asked you, if you had to pick the Metro
area and throw a dart at the greatest value areas,
where would you throw that dark Frankie, Tom.

Speaker 11 (01:54:08):
There's so many, but I'd say wash Park, Cherry Creek,
Hilltop Park Hill.

Speaker 5 (01:54:12):
Really, they tend to hold their value. And there's others.

Speaker 4 (01:54:15):
No, no, no, no, no, I'm not talking about holding value.

Speaker 5 (01:54:17):
I'm talking about a great value for buying.

Speaker 11 (01:54:20):
Well, boy, that is so spread out, Tom, because sometimes,
and it depends, you could get to sit like I'll
give you a really good example. Right, there's an area
I'm selling. It's not my listing, but now, and you
don't you didn't you know you haven't heard a lot
of these lately. But they're doing a short sill right,
and the price on this is a lot less than
what it normally would sell even in today's market. So

(01:54:42):
if you have an agent out there that knows the market,
they know how to help you shop the market, look
at the dynamics. They will find deals like that for you,
even in a market where we don't have it we
had in two thousand and eight. There's still are deals
out there to be found, but there's.

Speaker 4 (01:54:55):
Got to be some areas that are lower priced and
better values than other.

Speaker 5 (01:54:59):
Sure, what are some of those areas?

Speaker 11 (01:55:01):
Okay, Henderson, My brother in law bought a house that
backs to a golf course and bought it in the
seventh where anywhere else probably that would go for about
nine hundred to a million plus.

Speaker 5 (01:55:10):
So could you buy it in certain areas and get
better deals? Sure, but then there's going to be some
trade off with the commute as well.

Speaker 4 (01:55:17):
Now, I remember how about like there was Valley, How
does gat Value Branch.

Speaker 5 (01:55:21):
Is another one.

Speaker 11 (01:55:22):
I mean, you could get a nice, beautiful home, but
also the trade off is going to be, you know,
the commute and what the area sells for. And then
keep in mind in Green Valley Ranch, a lot of
people don't know this. There are certain sections of it
that have affordable housing, so they can only sell for
a cap a certain a certain high price.

Speaker 5 (01:55:39):
You know, they can't go past a certain price.

Speaker 4 (01:55:41):
Wait a minute, If I own a home, I'm I'm
capped at what I can sell it if it's in
an affordable housing areas.

Speaker 11 (01:55:48):
So Green Valley Ranch has certain sections that are under
affordable housing.

Speaker 4 (01:55:52):
Well, that means I bought it at affordable prices too, correct, Okay,
I get it. So you knew that going in that
you're going to get a great value, but you have
to pass on a great value exactly.

Speaker 11 (01:56:02):
And that's where the agents have to do their research
and understand which sections have the affordable housing.

Speaker 4 (01:56:07):
Okay, So what about Commerce City five points in areas
that in the past used to sell for lower prices.
I would say the same.

Speaker 11 (01:56:17):
I would say that, yes, you can find definitely lower
price in certain areas like that. Another thing too, And
I know we talked about the condo market, but there's
some good deals tom if you think long term, long term,
where you might be able to get yourself an incredible
deal with a condo right now too.

Speaker 4 (01:56:35):
But when you're looking at a condo, people and I
want to give you this as a as an advocate
consumer advocate for you. When you're looking at a condo,
you can't just look at the condo. You have to
look at the project. You have to make sure that
the project has been well kept and that the stairs,

(01:56:57):
the concrete, the the asphalt, the roof, the painting, the windows,
the regular maintenance has been kept up.

Speaker 5 (01:57:08):
Because many, many, many owners.

Speaker 4 (01:57:12):
I use the expression kick the can down the road
to keep the hoafees lower, and it comes back to
haunt them. There is no getting away from it. You
will have expense and it will come to you either
in the form of an HOA payment every month or

(01:57:34):
an assessment eventually. So that is really really important for
people to keep in mind. Frank, do you run across
people who say, oh, that HOA is too high? I
imagine you do, or Stephanie. But there's a reason for it.
Many of them who have fair HOA fees have healthy surpluses.

Speaker 5 (01:57:57):
How many times do your.

Speaker 4 (01:57:58):
People literally look into the HOA and the surpluses.

Speaker 12 (01:58:03):
I have my client's review the HOA docs in every
transaction and multifamily. But I want to give a really
good piece of advice that I tell every one of
my clients when we're looking at condos and townhomes, when
you are quoting out homeowners insurance, there's something called a
loss assessment writer. Now it's not a fail safe. It's
not going to cover you every single time, but it

(01:58:23):
will potentially come in and assist you in the event
of a special assessment. So that's something, of course, Okay,
let me let me clarify it.

Speaker 5 (01:58:32):
Then, yeah, let me clarify it.

Speaker 4 (01:58:34):
A loss assessment coverage covers people. The most you can
buy I think currently is twenty five grand, but it
only covers This is very important. People get the mistaken idea.
It covers assessments. It does not cover assessments. It covers

(01:58:55):
deductibles for insurance or assessments for insurance loss, or in
some cases, it won't even cover an insurance loss unless
there's a certain amount of underlying insurance. For example, if
you don't have any insurance on the roof and you

(01:59:17):
get a loss assessment policy and they assess people their
share of the roof and there was not an insurance
policy on that roof to begin with, many loss assessment
coverages won't be the primary they will only be the
secondary and it's only for insurance losses if they decide

(01:59:38):
they need to pave the parking lot. There is not
one bit that you can get covered by loss assessment coverage.
Loss assessment is not maintenance. Loss assessment is not repairs.
Loss assessment coverage applies only to losses that are covered

(01:59:59):
by in insurance where they had a shortfall. And that
so many times, Stephanie, people say, I thought.

Speaker 5 (02:00:07):
I was covered because I agree with you there, yeah, yeah.

Speaker 4 (02:00:10):
No, no, I know, I know you weren't giving out
false information. You were saying, by all means, get lost
assessment coverage because it will kick in.

Speaker 5 (02:00:18):
Oh my god, of course it will.

Speaker 4 (02:00:19):
And it's cheap, it's not expensive coverage. But how many times, though,
do people say, wait a minute, I have lost assessment
coverage and they're repaving the parking lot, or they're redoing
the swimming pool, or they're painting the project here And
here's what I always find. And maybe I don't know

(02:00:40):
how you guys feel, but I'm always baffled by homeowners
complaining about assessments for necessary upkeep and.

Speaker 5 (02:00:51):
Maintenance of the property.

Speaker 4 (02:00:53):
If the if the parking lot needs to be repaved,
like I say, the h you'll.

Speaker 5 (02:01:00):
Members or the HUA board.

Speaker 4 (02:01:03):
They're not profiting off of that and going on vacation.
They're repaving the parking lot. They hate asking for more money.
But man, this is the biggest problem, and we haven't
even seen the tip of the iceberg. We have so
many projects that were all built at the same time
around the nineties and the two early two thousands, and

(02:01:27):
they are in for a rude awakening because everyone, everyone
will face assessments.

Speaker 5 (02:01:34):
If you buy a condo or town home.

Speaker 4 (02:01:36):
It's not if you absolutely potitively must make it of
your budget for the future, where you literally put away
a little each month for future assessments.

Speaker 5 (02:01:49):
I'm Tom Martinez. We have more coming up.

Speaker 4 (02:01:57):
Go with a sure thing Denver's Best roof for Excel
Roofing dot com.

Speaker 5 (02:02:01):
You don't pay a cent until you're content, wait.

Speaker 4 (02:02:07):
Time for an insurance checkup 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
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Speaker 5 (02:02:17):
You'll think you're his only customer.

Speaker 4 (02:02:19):
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 troubleshooter three oh three seven one three talk three
oh three seven one three eight two five five. Somebody

(02:02:40):
texted me and it's really pissed or really pissed at
me because I keep talking about condos and townhomes and
they say, you're.

Speaker 5 (02:02:48):
Ruining the market.

Speaker 4 (02:02:49):
People are going to be very upset when they can't sell.
You know, I'm telling you it is truly a risky purchase. Now,
that doesn't mean they're aren't great deals out there. For example,
if you have a development that they have kept up
with maintenance and repairs and all of the outside maintenance

(02:03:12):
and all of the common areas, that's a goodbye. And
if they have realistic HOA dues, low HOA dues do
not necessarily mean that it's a good deal. Low HOA
dues could mean that they have morons. I shouldn't use
the term morons because of my YouTubers. They have idiots

(02:03:36):
in office who are trying to keep the monthly payments
artificially low and hoping they never have a major catastrophe
or major repairs. Now here's the deal, Stephanie says she
lets her customers. She makes her customers look at the
HOA docs. The HOA docs are all the same, most

(02:03:59):
of them. The thing people need to examine are the
HUAY books, the actual books. You need to know what
our what are the monthly payments, and at the end
of the year, how those payments stack up against the
yearly budget. Is there a shortfall at the end of

(02:04:22):
the year or a very small surplus. There should be
a healthy surplus at the end of every year, and
then their total surplus funds should be enough to fix
something catastrophic like a roof or repaving a parking lot
or redoing a swimming pool. So when you are looking

(02:04:42):
at a town home or a condo, look way beyond
the bylaws. What you need to really look at are
the actual books.

Speaker 5 (02:04:52):
You want to know at the how.

Speaker 4 (02:04:54):
Do the ha fees stack up against the yearly budget.
Do not accept and do not buy a place where
there is a negative budget shortfall, where there's a shortfall
on the budget or a minor or small profit. You
want an HOA that has a healthy surplus at the

(02:05:16):
end of every year, and then you want surplus funds
of at least five hundred thousand dollars in total.

Speaker 5 (02:05:27):
If you don't, it's going to come back to haunt you.

Speaker 4 (02:05:30):
Okay, Now, Stephanie and Frank do hoas let homeowners look
at the books or potential homeowners.

Speaker 11 (02:05:40):
You know, Tom, I've never known them not to what
you ask for them. And I always tell my sellers
before you sell a home, if there's HOA meetings, make
sure that look, there could be talk of a potential
upcoming special assessment. You got to be aware of that.
And I tell my buyers the same thing. Don't just
assume because the seller says there's not any they know of,
there's not something possibly upcut, or maybe even a pending lawsuit.

Speaker 4 (02:06:03):
You know how many times have people walked to a
condo and they go past a pitted parking lot or
siding that has to be replaced, or things that have
to be redone. And when they have to be redone,
guess who gets to pay?

Speaker 5 (02:06:18):
The homeowners?

Speaker 4 (02:06:20):
So even though you might have a lower fee every
month and you're thinking, oh, this is great, I can
afford this, you could actually be walking into a future assessment,
one that will not be covered by insurance. In fact,
I'm telling you. Most people don't know enough have it
buy a condo or town home.

Speaker 5 (02:06:40):
They don't know enough.

Speaker 6 (02:06:41):
This, if you're talking about, is one thing. Think of
a Champion Towers in Florida. Man, that pool came down. Basically,
the whole thing was gone. People lost a ton of money.
I mean, the whole thing was gone. They didn't have
enough money to rebuild. They ended up selling the property.
I think a bunch of people died. It's crazy, man,

(02:07:02):
Imagine that owning something that burns to the ground. You're
only insured for the drywall in and the HOA in
the building doesn't have enough insurance to rebuild. You're left
with whatever your coverage.

Speaker 5 (02:07:15):
Was, nothing, right, right, right? Your equity's gone.

Speaker 4 (02:07:18):
Your equity is gone now, John Clay, as far as lend, John,
I think about.

Speaker 6 (02:07:23):
That from a lenders side. You know, I'm sure they
all had different lenders, but you lose an entire condo.
I mean, everybody gets foreclosed down eventually, there's nothing.

Speaker 5 (02:07:33):
What are they going to do?

Speaker 6 (02:07:34):
Continue to make payments on a loan where there's no
a partner.

Speaker 4 (02:07:37):
No, Well, normally, normally you would hope that your hoa
excuse me, that your homeowner's insurance will at least pay
off what you owe you're hoping, I mean, obviously that's
what you want. John Clayce another question when we talk
about lending, I would think lenders would be smart enough

(02:07:57):
not to look at just the condo. I mean, people
get their condo inspected, and I asked them, did you
have the complex inspected?

Speaker 5 (02:08:06):
Because that's all.

Speaker 4 (02:08:07):
On you too, or two hundredth of it or one
three hundredth of it or one twenty fifth.

Speaker 5 (02:08:14):
Of it is on you.

Speaker 4 (02:08:15):
So how many people do you know, Frank and Stephanie
that have a home inspector look at the condo and
they never look at the complex.

Speaker 11 (02:08:27):
Boy, our inspectors are pretty thorough, Tom, But I hear
what you're saying because you know, honestly, I think that
would be pretty rare if I've ever seen an inspector.
Come back, if I'm on the list side and they
have a buyer that's mentioned anything about the complex, they
talk about the actual unit.

Speaker 5 (02:08:39):
That's right, I know they do.

Speaker 9 (02:08:41):
But okay, well, what are the things with the lenders?

Speaker 10 (02:08:44):
And people should use this more often because we have
a whole condo department that requests before we will lend.
We're looking at because there's always h VOA policy and
then there's master policies and the budget and we you know,
we can't lend. They have to have a ten percent
you know, a budget surplus before we'll lead on it.
And a lot of times these people if you have

(02:09:06):
if clients are going to look at, I mean, we'll
do it even if you don't close on the loan.
If you if you got a pre application with us,
we will check every condo you look at and we
will ask for we directly go after the master association,
the budget, all that stuff before we will.

Speaker 4 (02:09:21):
You know, John, that is really that is really uplifting
to hear that. You guys actually go so far as
to say that the ho has to have a ten
percent surplus well to protect their ass and that's why.

Speaker 10 (02:09:36):
Yeah, yes, but you got to make sure they're strong.
But people don't realize that. You know, when you're looking
at condos like a good lender, we'll do well, we'll
do that for a free service for you to look
at the commo box and offer we have a whole
we have a whole condo department.

Speaker 9 (02:09:51):
That's that's really does.

Speaker 4 (02:09:53):
That now, Mark, you say, it's just it's they're going
beyond saving their butts, because really, John, correct.

Speaker 5 (02:10:00):
If I'm wrong. The h the homeowner's coverage that people
buy is almost always enough to pay off the loan,
right you guys, I'm required.

Speaker 10 (02:10:09):
Not not with condos, but you do recurse home mup,
but not with h O six policies.

Speaker 5 (02:10:14):
No to drywall in.

Speaker 4 (02:10:16):
Yeah you know, no, no, But what I'm asking is,
could there be a situation where a condo was completely
lost the whole building, where the where the homeowner's policy
would not be enough to pay off the loan?

Speaker 10 (02:10:30):
The master policy so you have the master policies but
not the individual policy.

Speaker 4 (02:10:35):
Won't But no, okay, So you mean to tell me
that I could live in a condo theoretically and only
be covered.

Speaker 5 (02:10:43):
From the walls in and it would not be enough
to cover my loan.

Speaker 6 (02:10:46):
That's what happened to a lot of people in the
uh Champlain Towers.

Speaker 4 (02:10:52):
Wow, that would be that would be catastrophic.

Speaker 6 (02:10:55):
I've always brought this up. This sounds crazy, but John,
a home in Californi. That's like on a cliff in Malibu,
if you know, a really nice home, if the whole
home and cliff dropped into the ocean, and they don't
even own the property anymore because the property is now
part of the ocean.

Speaker 5 (02:11:13):
How the hell does that work?

Speaker 10 (02:11:14):
Most people only you only have replacement costs in their homes,
so they have to.

Speaker 5 (02:11:20):
Go buy a new lot on the ocean.

Speaker 4 (02:11:22):
No, they would lose all of their they would lose everything.
You're right, they'd only be paid for the structure itself.
Very seldom, do you, you know, not very seldom. You
never ensure the actual dirt underneath you. We have more
coming up on the Troubleshooter Show. Go with a sure
thing Denver's Best roofer Excel Roofing dot com. You don't

(02:11:45):
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find out now three oh three 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

(02:12:06):
with Remax Alliance three oh three nine two zero sixteen
twenty two. Hi Tom Artino here, all right, welcome to
the show. So I looked up common benefits to making
a home more attractive.

Speaker 5 (02:12:28):
Guys, I've heard that. Now listen to this one.

Speaker 4 (02:12:32):
This one designer says, the front door is very important.
The presentation of the front door that is not cracked, chipped,
faded peeling.

Speaker 5 (02:12:42):
What do you think about that? That made?

Speaker 4 (02:12:43):
That? That really sets the tone, doesn't it? The front door?
I mean, something so basic, And I'm told the other
thing that gives you the most bang for the buck
appliances and countertops.

Speaker 5 (02:12:59):
What do you think appliances and countertops? I would be
hold on. I got to put this because.

Speaker 6 (02:13:04):
When we're looking at homes, Yeah, the first thing we
end up really looking at is the master bathroom, and
you know, we're looking to see does it have that
California style closet, has it been updated?

Speaker 5 (02:13:17):
Yeah?

Speaker 6 (02:13:17):
Does it have plenty of room, heated floors, whatever? I mean,
that's where we tend to look. And the kitchen, what
do you guys see the most?

Speaker 11 (02:13:24):
Yeah, bathroom, kitchen and floors. As far as the front
door goes, okay, that's okay, But Tom thinking of it
like this. You walk in, Okay, see the door. Let's
say the door's not in great shape, but you walk
in and fall in love with the house on the
way out. You've already forgot about the front door. You're
thinking about the home.

Speaker 4 (02:13:37):
Sauce Absolutely, okay, yeah, you're what about appliances and countertops, guys.

Speaker 12 (02:13:41):
Yeah, your kitchen is one of the main rooms of
the house and one of the places I tell everyone
if we're going to do any type of updating, this
is one of those spaces, the kitchen, that primary bedroom, bathroom.
Like Mark said, you know, it's like we're really speaking
to the decision makers at that point typically of the contract.

Speaker 13 (02:13:59):
You know, we're looking.

Speaker 4 (02:14:00):
And then one texture said, they look at light fixtures.
They love beautiful light fixtures. I think that's pretty important.
I mean, in fact, sus you were talking about light
fixtures the other day.

Speaker 6 (02:14:13):
Yeah, but we have big I mean, we've got these
big chandelier things.

Speaker 5 (02:14:17):
Man, I mean they're so I well, a lot of
homes have them, and that's what I'm saying.

Speaker 4 (02:14:23):
It's important that they not be dated or broken down.
It's really important that you have some beautiful light fixtures.

Speaker 5 (02:14:32):
I think.

Speaker 6 (02:14:33):
So I really think that bathroom, the master bathroom, and
the kitchen Numero uno, and then it included in that
would be the laundry room in the pantry. If you
got to walk in pantry, there's a big difference between
just having shelving and having just a beautiful, full setup pantry,
you know what I mean.

Speaker 5 (02:14:54):
Yep, that's right.

Speaker 4 (02:14:55):
I think it's a great idea. I mean, the master
bedroom says a lot about a house. It really does.
A lot of people are willing to redo kitchens and baths,
but redoing a master bedroom in bath is really weird.
I mean, if you have a beautiful one, you're gonna
beat You're gonna beat the market. By the way, some

(02:15:16):
of the some of the best profits. I'm being told
from somebody who says they do fix and flips around
the country. I don't know how the hell they manage that.
They say, Tennessee is a great market right now, and Maryland, Kentucky,
Louisiana is a great place for fix and flipsis guys, that.

Speaker 6 (02:15:41):
We've been looking out there over in the Slyeell area
for a while. It is such a strange place, man.
It's basically like two worlds. You have New Orleans on
one side of the water and then you have Slide
Dell on the other, and it's so weird seeing apartment
buildings that are ten fifteen, twenty stories that were wiped

(02:16:01):
out by Katrina twenty thirty years ago, whatever it is,
and they're still there.

Speaker 5 (02:16:06):
They're dilapidated, there's boards.

Speaker 6 (02:16:08):
In the windows. I mean, it's so weird. But then
you cross a bridge, get to the other side, and
things are a lot more updated. It's it's really a
tale of two cities these days.

Speaker 4 (02:16:20):
Well, they say that people who have been doing fix
and flips in Louisiana usually get sixty five percent of
money invested sixty five percent. That doesn't include loans, of course,
but cash on cash sixty sixty five percent in Louisiana
and Virginia is Virginia is another story.

Speaker 5 (02:16:43):
Only one percent ROI. One percent You want to.

Speaker 6 (02:16:47):
Even consider it? That's absurd.

Speaker 4 (02:16:50):
Yeah, and Tennessee is another great place, but that's only
ten percent ROI. But you know, listen, it really depends
on how you hit it. Guys, when you find are
there even any fix and flips right now? I mean, really,
what does it look like here in Denver? Are there
any that you have listed at all that you can

(02:17:12):
think of?

Speaker 12 (02:17:14):
I don't know, but I get calls constantly from investors
asking me if I have inventory comings.

Speaker 13 (02:17:20):
So that tells me that they're I guess hard to
find right now in the area.

Speaker 11 (02:17:25):
Yeah, that's right, Stephanie. Investors are very hungry. I get
those same calls.

Speaker 5 (02:17:29):
I've had a few, tile I don't run into them
a lot.

Speaker 11 (02:17:31):
I've had a few. I had one that unfortunately, the
ma had passed away and we were selling it as
an estate sale and the place was in very rough condition.
But boy, even then, although we had investor offers, it
actually got bitted up and the person that bought it
wanted to rehabit for themselves to live in, So even
then it was competition.

Speaker 6 (02:17:51):
He just said, bid up. You made me think of something,
just like he did on your property. Frank, when he
sold ours in Castle Rock, he listed did a lot
lower and it kind of made me nervous. But he
created this bidding war and it went absolutely insane. When
Suzanne and I were on vacation, we were gonna look
at this, uh this what was it? A Macadamium nut thing?

Speaker 13 (02:18:14):
Yeah, a state INAII.

Speaker 6 (02:18:16):
Yeah, and Hawaii on the Big Island, a forty five
acre Maceadamian nut thing. And it was Roseanne Bars and
they had it listed at one nine forty five acre
nice house swimming pool.

Speaker 5 (02:18:29):
Wow, that sounds like a great deal, I know.

Speaker 6 (02:18:31):
And you can see the ocean. I was like, hey,
this this is like worth the look, and ultimately we
didn't go look at it, but it did the same thing.
They listed it at that one eight one nine. That
thing sold for well over three million dollars. I mean,
that's like the secret sauce a good realtor does.

Speaker 11 (02:18:50):
Right, that's one. That's one of the keys. There's other
keys to it, Mark, But you're right, because we create
the law of scarcity.

Speaker 9 (02:18:56):
I have one.

Speaker 11 (02:18:57):
Now, even in this market, there was a rice they
wanted to get. We talked about three scenarios that you
could do high medium where you could leverage the price
they chose to leverage. Boy, we came out very good
on that. In fact, we did better than they were
expecting to get. And then the neighbors like, how in
the world did you get that price? But even in
this market, it could work if you do it right.

Speaker 5 (02:19:14):
All right.

Speaker 4 (02:19:15):
We got more coming up on The Troubleshooter Show three
zero three seven, one three eight two five five. Hi,
Tom Martino, you're a troubleshooter three oh three seven one
three h five.

Speaker 5 (02:19:26):
Let's go.

Speaker 4 (02:19:26):
Oh, we had a caller on about selling a house.
He's not there right now, so uh, let's talk.

Speaker 5 (02:19:33):
There's one.

Speaker 4 (02:19:34):
Oh okay, Frank, uh or or uh Stephanie. When it
comes to multiple offers, how do you decide which one
to choose? My real estate person says he always takes
the highest price and he recommends that.

Speaker 5 (02:19:46):
What do you guys say?

Speaker 12 (02:19:48):
There's so much more to an offer than just price.
So when we have multiple offers, I typically will create
spreadsheets for my clients so we can look at a
lot of key points.

Speaker 24 (02:19:57):
Dates and deadlines play into that. Of course, loan type
plays into that. How much skin in the game your
buyers bringing to the table, if they give you any
type of verbiage regarding inspection or what that expectation is
set there.

Speaker 13 (02:20:12):
There's a lot of factors that can go in a
well above just price.

Speaker 4 (02:20:16):
Yeah, because you got to take it off the market.
And if you soft the market while you're waiting to
close and they're flaky, you've wasted three or four weeks.

Speaker 24 (02:20:25):
Absolutely lender conversations Frank, oh.

Speaker 11 (02:20:28):
Yeah, we look at the finer details Stephanie, that's right,
and you have to do that because I'll tell you
not always is the highest offer the best offer.

Speaker 5 (02:20:34):
So we look at everything top to bottom.

Speaker 4 (02:20:37):
All right, here's one, Fran. What do you guys think
about painted brick? I think it's a mistake myself. I
tell people bring it to natural brick. What do you
guys think?

Speaker 11 (02:20:48):
I don't think it's ever chied well with any buyers
I've ever taken to.

Speaker 5 (02:20:51):
I don't know.

Speaker 11 (02:20:52):
I've never remember one buying one with painted brick. I'm
sure they have, but to me, just I don't think
it looks very good.

Speaker 4 (02:20:58):
No, I think it's silly, and I think think taking
it down as less maintenance. Brick has no maintenance. Have
done right except for a little tuck pointing now and then.
By the way, John Clace, Partner in lending dot com,
Frank Duran the real estateman dot com, and Stephanie re
dot com. You can call us at any time for help,

(02:21:18):
information and referrals at three oh three Martino

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