Episode Transcript
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Speaker 1 (00:07):
News you needed. That's who You don't have to.
Speaker 2 (00:13):
Come running just as fast as we can.
Speaker 1 (00:16):
Shooter's gonna help me come.
Speaker 3 (00:20):
This is the Troubleshooter Show. No Tom Martino, Hey, hey, hey, hey.
Speaker 4 (00:26):
Tom Martino here and I welcome you to the show.
What's going on with you? Let's make this a fun show.
I'm at the mother Ship today. I had to see
get my fix of Shannon before the end of the year. Uh,
because uh, you just can't. You can't go a whole
year without seeing him. Actually I haven't gone a whole year.
(00:49):
And then we have guests today, well, we have a guest,
but he makes up for two guests. He's our car,
our car expert, Kevin Cocking, Uncle Kevin. I call im
from Sheridan Auto Tech. And uhs Jeff was Jeff's supposed
to note No, Jesse was supposed.
Speaker 5 (01:05):
To comunity he had at the horse.
Speaker 4 (01:08):
I hope he's okay, okay, okay. And then of course
we have Deputy Doc and uh Kachina and Kachina Chlory
and as I mentioned, Shannon, and we'll see who else
is going to show up, maybe d maybe Bo, maybe
someone else. But we're here to solve problems. That's what
we do every day. Three Mark, Oh, he's I thought
he was going to I am not leaving for a
(01:31):
couple hours. Oh okay, that's good. Then great. You didn't
hear what I said about you?
Speaker 6 (01:38):
Then?
Speaker 4 (01:39):
Yes, I always hear. I hear everything. Okay, Well I
just said that there's not a note here. Actually there
there are some note. No no, no, no, no, no notes.
That would be too much. Asked, Hey, be happy I
got all the inventory done. You're good man. You do
a great honest to god, I'm I don't want to
patronize you. I mean, I love it. Hey, let's talk
to some people now, Gary. He wants to talk about
(02:04):
an issue with one source. Now I've heard of one
source before, but enlighten me here, Gary, what's going on
with one source?
Speaker 6 (02:16):
Yes, sir, am I on now, yes you are sir, Yes, sir.
We had an issue on our house. A heater went out. Well,
story short. We called one source. They say they're locally,
but either way, we heard the guy. When was this
It was a December seventh is when it came out
on a Saturday. Okay, one person came out. He said
(02:38):
he couldn't get the part he said it was the
part that he needed. Was they called a I would
call this switch pressure switch.
Speaker 4 (02:49):
Yeah, okay, he went and he.
Speaker 6 (02:52):
Bought it Monday.
Speaker 4 (02:52):
Now we're talking about a regular hot air furnace.
Speaker 7 (02:55):
This is not a.
Speaker 6 (02:55):
Boiler, right, No, that's a regular furnace.
Speaker 4 (02:58):
Okay, got it one house.
Speaker 6 (03:00):
So he went and he got it and he installed it.
And then well, prior to that, he said, there's nothing
wrong with the heater. The motor's perfect. Everything's perfect, electrical
bubb blah. So I told me, I'll go ahead and
install it. He told me at that time and be
like four hundred, four hundred, and I got four hundred
and fifty four hundred and eighty four dollars.
Speaker 4 (03:18):
Did you have him do it? Yeah? God, we did okay.
Speaker 6 (03:21):
And he came back upstairs and he said, I he
hay to tell you this. I don't want to take
your seven hundred dollars from you. I really don't want to.
I go what he goes, the motor's dad need me motor?
So I said, well, how much is that going to cost?
He said, well, I could run a couple of thousand
the more told me and my wife put it in.
Speaker 4 (03:38):
I guess, well, why would you? Why would you?
Speaker 5 (03:40):
Ever?
Speaker 4 (03:40):
How old is your furnace?
Speaker 6 (03:42):
It's only about eight you's six years older? Thank ten?
Maybe maybe ten if that?
Speaker 4 (03:46):
Well? Why why? Okay? So he said you had both
the blower motor and you needed the pressure switch or
did he change his mind about the pressure switch.
Speaker 6 (03:56):
No, he still put that in, and then he came
back he said, we need a vent then assembly.
Speaker 4 (04:03):
Well, what is the ventilator inducer? That's not a fan.
Speaker 6 (04:06):
It's kind of like a fan slash. It looks kind
of like a car fan. It only weighs out maybe
a pounds maybe that there's six folks to take it
off in two plug games.
Speaker 4 (04:16):
So anyway, okay, we're not talking about the blower motor.
Speaker 6 (04:20):
No, No, it's a it's an assembly or ventilator inducer.
Speaker 4 (04:25):
Okay, it's for your it's ventilator inducer is a fancy
name for a fan in the flu or in the
in the intake. Well, listen, that shouldn't cost that much.
Just get that. That's a ripoff.
Speaker 6 (04:38):
Well, here's the thing, mister Martinez. First of all, I
want to thank you. We've been listening for decades. Nobody
will listen to me. What it is is when I
asked with the old motor, I got this fish.
Speaker 4 (04:47):
How much was this total repair?
Speaker 8 (04:49):
Now?
Speaker 4 (04:49):
Everything?
Speaker 6 (04:50):
Three chelsands three thousand three?
Speaker 4 (04:55):
Do you have heat?
Speaker 6 (04:56):
Thirty two hundreds?
Speaker 4 (04:57):
Is it thirty seven to thirty two?
Speaker 6 (05:00):
Let me say, I'm trying to find that. Just one
of them was two thy seven hundred and ninety one.
Speaker 4 (05:05):
I'm not going to do it, okay, that's why. And
the other one was four so thirty two? Got it?
So now hold on, man, here's what I need to know.
Did they fix the problem.
Speaker 6 (05:17):
They fixed the problem, and I paid them because I
didn't want them to lean me.
Speaker 4 (05:20):
Yeah, I know. Okay, So where does the sand right now?
Speaker 8 (05:22):
Where?
Speaker 4 (05:22):
What are you upset that you paid that much?
Speaker 6 (05:25):
Well, here's the problem. The problem gets worse now. I
took the old motor down to an established license.
Speaker 4 (05:31):
When you say motor, okay, when you say motor, you're
talking about a little blower fan, a little tiny fan
like is in.
Speaker 6 (05:38):
A computer exact Well, it's about a car heater.
Speaker 4 (05:42):
Maybe, No, I I know what you mean.
Speaker 9 (05:44):
It.
Speaker 4 (05:44):
What it does is it pulls fresh air in from
that okay.
Speaker 6 (05:50):
In fact, so I went down there and they gave
me a paper saying there was nothing wrong with the
old motor. So then we went to source one and
I talked to the gentleman and I told him by
the way, I went to Green Sure and I took
the two old parts. Once they took off, they gave me.
The price for the one is fifty three seventy seven
and the price with that other assembly was two hundred
(06:11):
and six dollars and two cents.
Speaker 4 (06:12):
So total parts are how much.
Speaker 6 (06:16):
Let's toget it one was fifty.
Speaker 4 (06:17):
Just total bro totals about three fifty three, about three
hundred bucks. So well, hold on now for a place
to come out and guaranteeing all that. Okay, I would
say six hundred for parts. I know you don't like
hearing it, and the world doesn't like hearing it, but
that's just like, it's six hundred in parts. But how
long were they at your house?
Speaker 6 (06:39):
That's than an hour they screwed and so.
Speaker 4 (06:41):
The total bill was thirty thirty two hundred. We got
to call these clowns. We can just have to call
them to justify it. Now, Listen, I've always said this before,
and I'll say this about our same people. I don't
control pricing, okay, and people are expensive, even our own
people on referrals dot com. They're good, but that I
think when I say expense, they're not cheap, I don't
(07:02):
mean overly expensive. Okay, So I don't know if this
is a fair price or not. I think we should
research it, but it doesn't sound.
Speaker 6 (07:09):
Good to me, Miss Martineu. I went to Affordable punt
in the heating. They're good lpit here in the Springs
and their bit for the total job, same parts replacement
and installed it five hundred and fifty seven.
Speaker 4 (07:20):
Yeah, but listen, that could be true. But I think
one thing's unfair is asking someone else after you've had
it done, did you tell them how much you were charged? Yes,
they did, Okay, I don't want.
Speaker 5 (07:33):
To do that.
Speaker 4 (07:34):
I want to call up one of our buddies out there.
Let's call Smith Kitchina. We know Mike's a great guy
down there, Mike Robinson. Let's call Smith Plumbing, Heating, cooling,
electric drains and as Kim to evaluate this for us.
I just want to know roughly. I mean, like I said,
we can't control pricing. If they got it done and
(07:56):
it works, But you're saying there's nothing wrong with the
damn motor.
Speaker 6 (08:01):
No, I got paperwork on that from the other company
being in business for Census seventies. They put it in writing.
Speaker 4 (08:09):
Oh they did. Now listen, No, I don't care about
cost of parts. Don't don't even bother me about cost
of parts. Okay, we'll double the cost of parts. But
I don't understand thirty seven hundred or thirty two hundred,
especially when the dang thing that would didn't need replacing.
(08:30):
So the name of this place is one source Kachina
or let's talk to Mike if we can get them
on the air, talk and then if we have to
go further. I'm going to give this to Deputy Doc
to shake it down. Because so hold on and Kaschina
get the information for deputy Doc. But what I want
(08:54):
you to do? Have you called them back and said
I did some research, the parts were three hundred, even
I gave you six hundred for parts. I didn't even
need that one motor. Did you tell them all this, sir?
Speaker 6 (09:07):
I went in person, me and my son and I
spoke to the gentleman and I told him, look, I.
Speaker 4 (09:10):
Just need no no, okay, okay, I did ask did
you go now here's what I want to know what
did they say? I just need to know that.
Speaker 6 (09:17):
He offered me one thousand dollars in future tune ups,
and I tol him. Why would I want?
Speaker 4 (09:22):
Yeah, why would you want? Why would we want you?
Your freaking clown, your piece of garbage. I'm getting pissed.
If you're telling me the truth, I'm getting pissed. One
source in Colorado Spring I'm pissed, all right, thank you
very much. On a Friday, on a card day, I'm pissed.
And I didn't want to be pissed today. I want
to be happy.
Speaker 6 (09:39):
But miss Martine, everything I had in hard coffee, there's
nothing nice. Everything in hard coffee, but nobody in Springs
from town we lived, to the to the disc nobody
would listen to me at all. And I tol him,
but I got I got taken over three thousand dollars.
I'm not even reasonable. Well, come on, give me a
(10:00):
price list, but what the parts costing?
Speaker 5 (10:02):
The labels?
Speaker 4 (10:03):
It doesn't Matt, listen, Gary, let me let me just
school you. Because I'm on your side. It's none of
your business what they paid for parts. It's none of
your business. And it's none of you. What is your
business is what did they charge you? And was it
reasonable and honest? That's all that matters. Okay, Now when
(10:25):
I say reasonable, unfortunately they can overcharge and be expensive.
What they can't do is lie to you about a
part that did not need replacing. So I'm not going
to demand that they tell me how much they paid
for parts. And I'm not going to demand anything except
did the motor need replacing or that little fan the
(10:48):
inducer fan? And where was it properly replaced? And I
think I want to get a gauge of what this
job would cost somewhere else. I'm Tom Martinez. We got more.
Come and go with a sure thing Denver's Best roofer
Excel Roofing dot com. You don't pay a cent until
(11:08):
you're content. Time for an insurance checkup, free, no obligation
comparison call Compass Insurance paying too much your coverage at
dozens of insurance companies find out now three all three
seven seven one help. You'll think you're his only customer
when you choose Frank durand Thereal estate man dot com
to list your home with Remax Alliance three all three
(11:31):
nine two zero sixteen twenty two. Hey, Tom Martino here
three all three seven to one three talks seven one
three h five five. I want to tell you waterpro
dot net has the best water systems at the lowest
prices anywhere. They have the greatest systems. And I'm telling you,
(11:53):
if you compare pricing, you'll know the whole house water
softening you're in special only whole house watersof and reverse
Osmos's drinking water, all of it, all of it for
thirty one ninety five. You'll never get a system like
this anywhere else for this price, with this quality. In fact,
Plumbers minimum twelve grand for this if you can get
them to twelve grand. Anyway, let's keep going and we
(12:17):
uh Kachina, are you getting Mike on from Colorado Springs?
Speaker 9 (12:21):
Can you?
Speaker 4 (12:22):
Okay? Thank you. I'm gonna move on then, and I'm
going to talk to Chris. He says he has an
issue with an ho A. Hello, Chris, what's happening? All right?
Hold on, I'll get you right now my phone right there. Okay,
there's the button. Okay, Chris, what's going on?
Speaker 7 (12:40):
Hey, thanks for taking my call. Yes, sir, we inherited
a condo from my wife's dad. He passed away in
twenty twenty one.
Speaker 4 (12:50):
Oh okay, twenty twenty one, this happened, all right, Yeah,
so we took over the payments.
Speaker 7 (12:56):
Well I should. We paid it off and we are
partner with our with my sister in MW.
Speaker 4 (13:02):
Okay, So he left it, he left it to two
of you.
Speaker 7 (13:06):
Well there's three. We bought him out. It's complicated, but okay.
Speaker 4 (13:09):
So now so now your wife and her sister own it.
Speaker 7 (13:14):
Yes, that's correct.
Speaker 4 (13:15):
Okay.
Speaker 7 (13:16):
So now so we started paying you know, the bills, electricity, water.
Speaker 4 (13:21):
HOAP was Now who lives in it? By the way,
we have rinters in there, okay.
Speaker 7 (13:29):
And so we started paying h OAF at two fifty
a month, which seemed high for an eleven hundred square
foot house.
Speaker 9 (13:37):
Yeah, I know, but it's but you know what you said.
Speaker 4 (13:40):
It's a condo, you said, though, yes, sir, okay.
Speaker 7 (13:45):
So then pass forward to April of this year. They
actually it had been having some roof problems and they
had a roof claim on one of the units.
Speaker 4 (13:53):
There's like twenty units I know, and there's going to
be an assessment.
Speaker 7 (13:56):
Yeah, so they if they pre star HOA to six
fifty a month for a three bedrooms condot.
Speaker 4 (14:03):
Yeah, for sure, for sure, it's happening all over the
country and especially here in Colorado. In fact, they can
do it. They can do it one of two ways.
If if they're if they have a roof claim and
they went short in the coffers and they want to
build them up, then they would increase the dues. If
they're short in the coffers literally short, then they can
(14:26):
sometimes do an assessment, which means a one time payment
from each homeowner.
Speaker 7 (14:32):
And that's what they're actually considering doing. So not only
did they increase our hoah four hundred months, but now
they're asking for an approval for an unknown amount for
a loan. We don't know what that number is.
Speaker 4 (14:45):
Well, and like we're confused, Chris, can I explain something
to you? And this is the mindset I find confusing.
And I'm not criticizing you, but I want to give
you a dose of reality and I'll make you smarter.
I promise you. You're talking about the hoas if it's an
entity other than yourself you are, or your your wife
and her sister. They are part of the ha. Okay
(15:11):
ha might have a management company and of course short
of crooked ha people or a management company which about
ninety nine point nine percent of the time. They're not crooked,
but everyone thinks they are. But what I'm saying is
short of that, the HOAY simply has to keep a budget.
(15:33):
Now here's what happens over the years. Sometimes ha's try
to get increases in fees and everyone votes them down.
But what people don't realize is when you turn down
an increase in an HOA fee and expenses keep going up,
you will eventually run out of money. Okay, you will
(15:59):
eventually run out of money or run short of money.
At that time, the HOA or management company have to
make a decision what do we do. In some cases
they raise the ha but that's not enough, so in
other cases they have to get a loan or they
have to get an assessment. Either way, it's something that
(16:23):
everyone has to do. It is not them against you now.
The only time it's them against you as owners is
if they are lying and cheating period. Other than that,
if they need a loan, they don't know how much
they're being honest, they don't have to tell you how much.
(16:43):
I mean, what difference does it make to you if
the loan is two hundred thousand or five hundred thousand
if they need it. If they need it, they need it.
It's up to you as an owner to attend meetings
and look at the books and be informed. It is
not a situation where the HOA is apart from you.
(17:06):
If that's the one thing people do not understand. They
have every right to see why they need a loan.
What is the analysis, what is the budget? What is
the paperwork? They shouldn't lie to you, and or not
lie to you. They shouldn't hide that from you. Now
are there times that the HOA are taking kickbacks and
(17:26):
payments and management companies are charging too much? That could be,
but very seldom. The best way to take control of
the situation is to get involved, get involved in the meetings,
or get involved on the board. Does I know that
sounds overly simplistic, But you don't have a problem with
(17:49):
the HOA. There is no problem. The problem is with
the problem is with insurance and the problem is with
contractors and prices. That's the real problem.
Speaker 7 (18:01):
I don't know who to be mad at because because
I feel like there's something going on with insurance. We
had insurance, they're roof claim. We had a roof claim
and they won't pay it.
Speaker 4 (18:11):
Let me put it, Let me put it into perspective.
Let me put it into perspective. I'll tell you who
to be mad at. No One, No one in Colorado.
In Colorado right now, you have to be insane to
own a condo or a town home right now. It's
(18:32):
the worst time in history to own anything like that
because you have no control over the situation. Insurance companies
are refusing to cover them, or they're saying the deductible's
going to be you know, like eighty percent or fifty percent,
or sometimes they say we're not going to cover you
(18:53):
at all. Do you know there are condo projects right
now that have no insurance for the roof. None. If
the roof goes out, everyone in the condo project will
have to pay twenty grand. Twenty grand, I mean we're.
Speaker 7 (19:06):
Paying it anyways, like we're we're the insurance won't cover us,
so we are liable for the roof because no one
will cover us.
Speaker 4 (19:13):
Well, there, that's another issue. If the insurance isn't paying,
you have to ask why why isn't the insurance pay
I agree, I mean why? I mean you guys could
hire a public adjuster and make the insurance pay if
it's due what reason I see. I don't understand this.
(19:34):
You guys had hail damage and the insurance company said
we're not going to cover it.
Speaker 7 (19:39):
I don't even think it was pail damage. It's it's
just deteriorating.
Speaker 4 (19:42):
And well, okay, guess what insurance doesn't. Insurance is not
a warranty. Sure insurance only covers Listen carefully, a casualty
event that's a plane crashing into it, or a weather
related incident that or a satellite crashing into it. It
(20:02):
is not deterioration. The worst thing that can happen to
a condo project is deterioration. Wait until the parking lot
needs to be repaved, that's not an insurance thing. Or
the swimming pool has to be rebuilt, or the fencing
has to be redone, or it has to be painted
on the outside. See this is what I'm telling people.
They think when they move to a condo they don't
(20:24):
have to worry about maintenance. They have to worry about
maintenance just as much as any homeowner does. They just
think that this HA is some entity that needs to
take care of them. So, really, I know you didn't
call for this, but you're going to be smarter for it. Chris,
you are a part of the HOA and a part
of the management company, and you have to take the
bull by the horns in order to find out what's
(20:46):
being done and if it's being done efficiently, and if
anyone's cheating. If no one's cheating, then you're all victims
of everything of like roofs wear out, parking lots wear out.
Life has a way of doing that.
Speaker 10 (21:01):
Hey, I have a question.
Speaker 11 (21:02):
Can he call up the president of the HA and say,
just on a friendly bay, say hey, look what's going on,
where's the money coming from? And see if you can
get some answers that way.
Speaker 4 (21:13):
Well, anybody can try, But I mean, yeah, if I'm
president of the HUA, I don't want to take phone
calls from two hundred owners. Owners. You go to a
meeting and or you make a formal request. The bylaws
set out exactly how to see the books. The bylaws
set out exactly what your rights are. Now again, I
want everyone who has an HOA excuse me and a
(21:35):
condo and a townhome to listen. I am not giving
them an excuse to lie and cheat. If that's happening,
that's a different story. Here's the problem. It mostly is
not happening, and people are just pissed off that they
have to pay the piper. Go with a sure thing
(22:02):
Denver's Best roofer Excel Roofing dot com. You don't pay
a cent until you're content. Time for an insurance checkup free,
no obligation. 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
(22:24):
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 here, you know, going into
the new year, there are things I never want to
hear again in my life. Ever, one is every day
(22:49):
on the Today Show or other shows. I don't want
to hear about Taylor Swift. I don't really care. I mean,
she's a wonderful woman, she's got a great concert, very talented.
I don't want to hear about her life. I don't
care about her life. Can we can we agree on
that one? She she outsold the Beatles well, she she didn't.
But well, let's talk about dollars. Well, yeah, of course,
(23:09):
now that's talk about let's talk about this. I don't
want to hear about body shaming or fat shaming anymore.
I don't want to hear about people boohooing about it. Okay, Now,
I think you should never be mean to people. I
totally agree you shouldn't be mean. There's no reason to
be mean. But when you say to somebody, hey, bro,
(23:31):
that's not good for your blood pressure. You know you're
drinking coffee, you go, am I? Am I blood pressure
shaming him? I'm not am I? Or Hey, you know
that that uv A tanning or uv B or whatever
the hell it is. That the one that's really really,
really bad. You're doing it every other day. It's not
healthy for you. Am I son tan shaming them? I'm not, Hey,
(23:54):
that's not good for your eyes? Man, I'm I shaming you.
You're fat. I'm not body shaming you. It's obesity. It's bad.
There is not one study in the entire universe that says, oh,
it's okay, now, some obesity. I'm thinking, you know other
(24:16):
people's business some obesity. You're right, But if you know
someone Hey, By the way, some obesity people can't really
help it is. It is metabolic and maybe some different issues.
Most obesity is non most is non so. So I
don't think the shaming. Why have we come to a
point in America where we can't even everything is wrong
(24:41):
because of the left. That's very easy. Everything is wrong.
It's the woke, it's the DEI, it's all that real.
Three seven one three talk seven one three eight two
five five. All right, let's go back to the phones,
and I'm going to talk to uh. Okay, now, who
do we have?
Speaker 5 (25:01):
Garrett?
Speaker 4 (25:01):
Good? We have Garrett at eight eight eight heating dot com.
Love Garrett. Hey, Garrett, how you doing man?
Speaker 12 (25:08):
Hey, Tomy Martinez doing good?
Speaker 4 (25:10):
Hey? We had And again I don't control pricing. I
think fair prices, good prices, even expensive at times. Look,
I don't care about pricing so much. I just want
to give this guy a gauge. It was another company
unrelated to you guys, and that he had a couple
(25:31):
things done. A pressure switch which I don't know what
that is, but it's a pressure switch that regulates when
to turn on and off the the exhaust airfan inducer.
Speaker 12 (25:41):
Yeah, yeah, that's just a vacuum switch.
Speaker 4 (25:43):
Okay, so ye had the vacuum switch changed, and he
had the exhaust airfan inducer, that little fan, not the
big blower motor. But okay, he had them replaced. Oh yeah, okay,
So what would be now? I don't want to go
I just want to find out that. By the way,
as it turned out, the supply house or or excuse me,
(26:04):
another vendor told them there was nothing wrong with that
motor at all. But that's neither here nor there, not
for you. But can you explain what would it cost
around in the market. I'm not talking about you necessarily today,
but in your knowledge, what what is a fair price?
Where a normal price for that?
Speaker 12 (26:25):
Well, there's a there's a lot of factors into that.
There's high efficiency, standard efficiency, you know, modulating motors all
the way down to a single stage markers.
Speaker 4 (26:33):
So there's a lot of wait, wait, so that would
change That would change the inducer, I mean that fan.
Speaker 12 (26:40):
Yeah, that would change price substantially.
Speaker 4 (26:42):
Okay. I want to ask Gary. Let's ask Gary, Gary,
what kind of furnace. What kind of furnace are we
talking about?
Speaker 6 (26:49):
They're talking about a good one, I guess.
Speaker 4 (26:52):
And is it a high efficiency or regular. Do you
know how old is? It's about eight years old?
Speaker 12 (27:00):
Okay? Do you know if it's a high efficiency furnace
or a standard just regular? Just a regular, not a
high efficiency, No, just a regular one. Okay. Yeah, you
know the company pricing is all all the time and
it really just depends on it really does depend on
the company. But you know, what you have paid for
(27:20):
that is down in the Colorad Springs market may be fair,
but I would say that our pricing is definitely for
a standard swap out. If you're talking very standard, that
ours is definitely lower than that.
Speaker 4 (27:33):
Okay. In the Denver market, what would be would you
think an average price for that vacuum switch?
Speaker 13 (27:40):
Average?
Speaker 12 (27:40):
And I would say vacuum switches fans and if they're
doing all the checks and balances to make sure the
system's safe after that instead of just you want to
be in a park swapper. You always want to give
a good service with you. You know, you don't want
to if your cardinal and the canic and have them
change attire and I'll not tell you the brakes you're bad, right,
So yeah, you know, if you have the whole service done,
you know, I would say Ridge fare pricing, which I
(28:01):
hate to do because it's such a big gage.
Speaker 4 (28:02):
But so okay, okay, and see and thank you.
Speaker 5 (28:07):
Gary.
Speaker 4 (28:08):
I knew you would be us, be straight with us
in general. And he's a great guy. And of course,
don't forget they do that deep clean for forty five
bucks and they have the best prices on high efficiency units.
By the way, everyone should go high efficiency to these days. Now, Gary,
here's the thing. Not only were you charged double of
what the Denver market is, not that that's against the law,
(28:30):
but you didn't even need the motor. So we're gonna
give this I was gonna give it to Deputy Doc.
But as he aptly pointed out, Deputy Bow used to
be in this business. We're gonna give it to Bow
to work on with this company.
Speaker 6 (28:43):
Okay, all right, that's so anything I can do to
play it, you'll.
Speaker 4 (28:47):
Be hearing from him, Deputy Bow. I'm Tom Martine three
zero three seven to one three talk seven one three
eight two five five Frank durandereal Estateman dot com. We'll
tell you what that house can sell for without going
through a whole listing, no obligation. You're wondering what the
(29:08):
hell's going on? Is my house gonna sell for a lot?
Am I gonna make a lot of money? A little money?
He'll just do it all. A complete analysis, free of charge, complimentary.
Frank Duran, the real Estateman dot com one of the
finest people I know three oh three nine two zero
sixteen twenty two. Go with a sure thing Denver's best
(29:32):
roofer Excel Roofing dot com. You don't pay a cent
until you're contents. Time for an insurance check up free,
no obligation comparison call Compass Insurance Paying too much your
coverage at dozens of insurance companies find out now three
oh three seven to seven to one help. You'll think
you're his only customer when you choose Frank durand the
(29:53):
real estate Man dot com to list your home with
Remax Alliance three oh three nine two zero sixteen twenty two.
Hey Tom Martino here three oh three seven one three
talks seven one three eight two five five Back to
the phones, and Uh, Mike wants to talk about a
(30:15):
cracked windshield. Mike, what's happening? Man? Oh, there's me? Hold on,
I don't even say it, don't even say it. There
it's Okay, that's the button. Go ahead, Mike.
Speaker 8 (30:27):
I can.
Speaker 4 (30:28):
I could explain it to everyone, but I'm not going
to go ahead, Mike. What's happening, man.
Speaker 14 (30:31):
Well, we we rented a little mini van in order
to take some house guests around showing the state a
little bit. And on the way back from the trip,
we saw we had a crack in the windshield. We
had paid for the rental with a credit card which
has the the collision damage waiver, and in other words.
Speaker 4 (30:54):
They will they will pay up to the collision for
up to the before you on the rental. Right, what
card do you have? Capital one or which one?
Speaker 14 (31:05):
It's a Fidelity Visa.
Speaker 4 (31:07):
Card and it does have rental car coverage, is what
you're saying it does.
Speaker 14 (31:11):
Okay, it's not as the primary coverage since we are
our own automobile policy, right, the card will pay anything
that the automobile policy doesn't cover.
Speaker 4 (31:22):
I don't even understand that part of it because I
felt like that makes no sense. Yeah, none at all,
because if you have an automobile policy, if you do
the waiver, you shouldn't have anyway, it makes no sense.
Keep going with your story.
Speaker 14 (31:37):
Okay, Well, I just need your advice. Yes, we haven't.
We don't need to return the thing until Saturday. And
well I haven't contacted either the rental car company or
my automobile insurance company. Now what would be your advice
should I go ahead?
Speaker 4 (31:56):
What was the name of that credit card? I want
to hear that again.
Speaker 14 (32:00):
Well, it's the Fidelity, which is that, you know, investment company,
Fidelity Visa?
Speaker 4 (32:07):
What is it?
Speaker 12 (32:08):
It's a visa card?
Speaker 4 (32:09):
Yeah, okay, yeah, Now listen, I need to know if
you have glass coverage on your car. You are your
primary insurance.
Speaker 14 (32:19):
Yes, we have a full glass coverage on our truck.
Speaker 4 (32:22):
Yes, okay, and that's the one that you Uh okay,
So that should cover you on the rental, is the
answer I.
Speaker 7 (32:29):
Would think, So, well it does.
Speaker 4 (32:31):
Yeah, if you have that coverage, it'll cover you. I
can get Compass on, but they'll tell us the same thing.
Speaker 12 (32:36):
Mm hm.
Speaker 4 (32:37):
So you you call your insurance company and here's what
they usually want to do. Because I went through the
same exact thing, the same exact thing, a rental, I
have zero deductible glass coverage. Brian Burns a Compass insurance
group where you call for your insurance check up three
three nine nine six, nine thousand. I called him and
I said, Brian, what do I do? He says, Well,
(32:57):
with another person's car, it's different than you going to
get it done. When you have a rental car, you
have them get it fixed and then send you the
bill and your insurance pays it.
Speaker 15 (33:08):
You know, he's got that coverage on that credit card, man,
So just call I got the eight hundred number here,
call up the credit card claims and they're going to
cover it.
Speaker 4 (33:16):
I mean, if you want to go through your glass coverage, fine, yeah.
I want to ask you something, though, Mark, when you
have both, can the rental car, can the credit card
say we only back you up beyond your own insurance?
Or in other words, can you choose which one you
want to use?
Speaker 8 (33:31):
Yeah?
Speaker 15 (33:32):
Of course in this circumstance, because he used that credit card,
he's covered up to seventy five thousand dollars for damage
to the vehicle in theft.
Speaker 4 (33:40):
It doesn't have anything to do with liability, of course. Okay,
so maybe you do that man.
Speaker 15 (33:48):
Yeah, that whole set you just somehow you read something incorrectly.
It's not a secondary coverage, it's it's primary when it
comes to damage to the vehicle.
Speaker 11 (33:59):
Hey, Mark, what is uh what if premiums go up
if he just makes a uh windshield claim?
Speaker 4 (34:04):
Of course not No, they shouldn't. All they shouldn't. But
those are not chargeable.
Speaker 15 (34:07):
But hold on, like Safeco who I have. It's only
a certain amount of windshields per year, so it could affect.
Speaker 4 (34:15):
Him down the road if one of his own cars
needs one. You have a certain number of windshields a year, right,
I guarantee you do too, tyw, I know.
Speaker 10 (34:22):
No, he's just better off calling up visa.
Speaker 15 (34:25):
Well, yeah, because that's what the card's for. But you
you reserved and paid for it with that.
Speaker 4 (34:30):
Visa, right I did? Yeah, so you're covered with them. Man,
here's the number.
Speaker 15 (34:35):
It's one eight hundred five four six ninety eight oh
six eight hundred and five four six ninety eight oh six.
And that's where you make a claim for the fidelity
visa coverage.
Speaker 14 (34:49):
Okay, that's that's not what my literature says. But you
may be seeing something new.
Speaker 4 (34:54):
What what does your literature say?
Speaker 14 (34:56):
Well, I don't want to waste your time, but well.
Speaker 4 (34:59):
Just in your in general, what does it say.
Speaker 14 (35:01):
It says that the coverage that the card provides if
I have my own insurance. Then the card is only
secondary to cover something like the if you.
Speaker 4 (35:13):
Buy I see what he's saying.
Speaker 15 (35:14):
That's only if you buy the rental cars coverage of insurance,
which you did it right?
Speaker 5 (35:19):
No he didn't, he tell me.
Speaker 15 (35:21):
Way forget Just call that number. They'll handle it. Bro
Thank you, Mark, and thank you for calling.
Speaker 4 (35:27):
Let us know, Mike if you need anything else. I'm
Tom Martino. Hey, we got on from Kevin here. We've
taken car calls and all of your problems, questions and
complaints coming up. I'm the troubleshooter show 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
(35:48):
insurance check up free, no obligation. In comparison, call Compass
Insurance paying too much your coverage at dozens of insurance
companies find out now three oh three seven seven to
one help. You'll think you're his only customer when you
choose Frank durand the real estate Man dot com to
list your home with Remax Alliance three oh three nine
two zero sixteen twenty two.
Speaker 1 (36:14):
Ripped news need so you don't have come running just
as as we can. Shooter's gonna help come.
Speaker 3 (36:29):
This is the Troubleshooter Show. Now, Tom Martino, Hello.
Speaker 4 (36:34):
Tom Martino here, solving problems, answering questions, taking complaints, Marks
on remote and then we have Deputy Dog here, we
have Uncle Kevin Sheridan auto tech. Uncle Kevin. Somebody wants
to know how often do they have to do their
flushing of a coolant system?
Speaker 5 (36:51):
Typically every two years? Okay, depending on us and everything,
but yeah, two years is standard.
Speaker 4 (36:57):
Okay, two years is standard for that. And uh what
about when just maintaining there's nothing else to do? You
just keep the level?
Speaker 14 (37:07):
Right?
Speaker 5 (37:08):
Yeah? Okay, yeah, so they're good long life any freezes,
but yeah, two years, three years at the most.
Speaker 4 (37:13):
All right, three all three seven one three talk seven
one three eight two five five Back to the phones.
Darryl has a question on a loan for his property
or for a property. Hey, hey, Daryl, what's going on?
Speaker 16 (37:25):
Oh?
Speaker 4 (37:26):
Cut, shut up, Mark, I'm gonna Darryl, what's that I'm
doing better than Joe Biden? What's going on with you? Bro?
Speaker 17 (37:37):
Well, that's uh, that's okay, what's happening?
Speaker 6 (37:41):
Okay?
Speaker 17 (37:42):
So I think it's called a bridge loan, but.
Speaker 4 (37:47):
It's a bridge loan. Is a bridge loan is when
you're you own a home, you're selling and you're buying
a new one and you need something in between.
Speaker 17 (37:55):
Yeah, so kind of kind of like that. So I
got a piece of property that under contact that closes
in March.
Speaker 4 (38:02):
When you say a piece of property, you're talking about land.
Speaker 18 (38:06):
Yeah, okay, And and what what I'm what I'm looking.
Speaker 17 (38:11):
For is is to get a loan against the property
before it closes and then pay it off at closing.
Speaker 4 (38:23):
Wait wait, wait, wait, why why do you need it
before closing? Usually you pay at closing.
Speaker 17 (38:30):
No, no, no, no, I just I just need some
money between now and closing.
Speaker 4 (38:35):
I understand that. I'm just asking not to be nosy,
But for the reason, what do you need the money
for before closing?
Speaker 17 (38:43):
Oh okay, I see what you're saying. Yeah, just for
business expenses.
Speaker 4 (38:49):
Okay. It has nothing to do with the land.
Speaker 17 (38:52):
No, no, And the land is pretty and clear.
Speaker 4 (38:54):
Okay, then why did you even mention it? In other words,
I was just confused. What you need is a loan period.
Speaker 17 (39:01):
Yeah, like the line of credit, yeah, or something like that, And.
Speaker 4 (39:03):
It has nothing to do with the land. You just
need a loan.
Speaker 17 (39:09):
Well, but the reason why I brought the land up
is because that would be I mean, I don't, I
don't you know. Obviously that would be the collateral, right.
Speaker 4 (39:17):
Not if you don't own it. It would only be
collateral when you own it.
Speaker 17 (39:22):
I own it.
Speaker 4 (39:23):
You said you close in March. Wait? Wait, are you
buying or selling this property?
Speaker 5 (39:29):
Selling?
Speaker 4 (39:30):
Now? I understand. I'm so sorry, bro, I'm so sorry. Now,
so you're selling. I just assume you're buying it. So
you are selling your land. You have a contract on it,
and you will get paid in March, and you need
something to hold you over. I get it. Now. How
sure is that closing?
Speaker 17 (39:51):
What do you mean?
Speaker 4 (39:52):
Well, how sure is the closing? If I wanted to
loan your money?
Speaker 17 (39:56):
You said, yeah, it's it's it's it's like anything, right,
It's not one hundred percent?
Speaker 7 (40:02):
Okay, all right?
Speaker 4 (40:03):
And what are the terms? When you close it? You're
going to get cash cash? And how much are you
selling it for?
Speaker 17 (40:11):
Ten million?
Speaker 4 (40:12):
What for ten million? What the hell kind of land
do you have? Well?
Speaker 17 (40:20):
You know what land is, Tom, well, I.
Speaker 4 (40:22):
Do, but to be ten million, I'm just curious what?
What where is where.
Speaker 17 (40:27):
You've done it, You've been there, You've done it.
Speaker 4 (40:29):
Yes, I have both the good and the bad and
the ugly. But I want to ask you seriously, where
is it? No no falling around?
Speaker 17 (40:35):
Where is it Well County?
Speaker 4 (40:36):
It's in well County, Well County. I don't think all
of Weald Counties worth ten million? But okay, what kind
of was waiting for that? Is it commercial? Is it residential?
Speaker 17 (40:46):
What is it residential?
Speaker 4 (40:49):
How much? How many acres?
Speaker 17 (40:53):
Seventy?
Speaker 4 (40:54):
Okay? And who's buying it? Developer? Okay? All right? And
so did you get any earnest money? I'm trying. Here's
why I'm asking, because the strength of that is going
to be the strength of you getting alone. But you're saying,
you're saying that even if you don't close, the land
is your collateral. So would you allow someone right now
(41:17):
then to put a first deed of trust on that land?
Speaker 17 (41:21):
Well, that's probably what it's going to take, right.
Speaker 4 (41:23):
I think it's going to take it. Yeah, But when
you said line of credit and stuff, I thought you
were talking unsecured. But okay, so you have two hundred
and seventy acres and you truly okay, So two hundred
and seventy acres. And what I want to know is this,
how much do you have to borrow.
Speaker 17 (41:41):
A million?
Speaker 4 (41:43):
So with two? Now, that to me sounds like an
o brainer because, first of all, I doubt, I doubt, well,
I don't know. I don't know in Well County, if
it was prime residential land you're talking you're talking a
value of thirty seven thousand per lot. I'm not sure
or per excuse me, per acre. I'm not sure it's
(42:06):
worth that. Maybe it is. I don't know. I don't
know anything about Well County. But what But the other
thing you're talking makes more sense. You're looking for a
million dollars hold on divided by two seventy. So let's see.
So you're asking for thirty seven hundred dollars an acre
for a loan, and I don't know. We let's put
(42:28):
it out there, man, somebody.
Speaker 8 (42:30):
Origination see I want it? Yeah?
Speaker 17 (42:32):
And so what you know? And then and like I said,
I've never done this before. But basically, then when at closing, look,
then I investor.
Speaker 4 (42:43):
All kinds of things, including loans. And what Mark was
talking about when he said ten percent origination fee might
be a little high, but people are gonna want points
up front. It's not high right now, there's no way
for something like that. And for land and points they're
gonna want at least I think sick. They won't go
beyond sixty percent loan to value. So do you have
(43:06):
an appraisal of the two seventy.
Speaker 5 (43:10):
I don't have.
Speaker 17 (43:11):
I don't have an appraisal. No, but I'm assuming the
developer did or he wouldn't offer that.
Speaker 4 (43:15):
Well, that's not true at all, but sometimes they do
it because they have a hunch. I want to ask
you something. Do you have adjacent property?
Speaker 6 (43:22):
Yes?
Speaker 4 (43:23):
Okay? And I mean adjacent property you don't own.
Speaker 17 (43:30):
There's adjacent property I don't own, and there's adjacent property
that I do own.
Speaker 4 (43:34):
Now, the adjacent how did you acquire all this land
out of curiosity? Were you a farmer or what?
Speaker 5 (43:39):
Yes?
Speaker 4 (43:40):
Okay, and you're you're selling the farm one of them, okay,
and then you know that.
Speaker 15 (43:48):
I think the bottom line, though, is if the collateral's there,
whether it's his home, residence, the land all combined, it's
gonna it's there.
Speaker 4 (43:55):
I mean it's a ten percent deal, ten percent interest.
Speaker 15 (43:59):
You're saying no, I'm saying a ten percent origination and
then like closing ninety days or.
Speaker 17 (44:05):
Else ten percent origination. Say you're saying, you're saying one
hundred thousand.
Speaker 4 (44:12):
Yeah, I'm not sure of that. I'm not sure. I'm
not disputing it. I'm saying I'm not sure because like,
let's get Brent Ivanson or someone on. Okay, but he
doesn't do he doesn't know private loans, I don't think,
but we can ask him. You're right. And here's the thing, Darryl,
I have done. I have literally done private loans. In fact,
(44:33):
Mark and I have done private loans. So Mark, we
didn't charge ten percent, did we?
Speaker 15 (44:40):
I think in a case like this, once again, the
biggest thing is if the.
Speaker 4 (44:45):
Collateral is there for.
Speaker 15 (44:47):
Me to loan that money to him, how long would
you seriously need it?
Speaker 6 (44:52):
Man?
Speaker 4 (44:52):
When when is it a guaranteed payback? But to ask
you can't ask for a ninety day?
Speaker 15 (44:58):
Well, my note would be note would be called in
whatever time. Tom, I mean, I'm not going to sit
on it for ten years.
Speaker 4 (45:05):
No, but if you get listen, man, if you get
ten points, if you get ten points and you get
a decent interest rate, it would be hoofy to have
it out there for how long how long would it
come back?
Speaker 17 (45:19):
In March?
Speaker 15 (45:21):
So, I mean he's talking four or five months, So
I would stick with what I said it would be.
It would be called do at that point. And you know,
if something happens and we talked, that's fine, but the
paperwork's not going to say that. But I would want
ten percent origination and I wouldn't charge you any interest
for the five months.
Speaker 4 (45:40):
Oh, I would get that, just the origination. That's different.
That's a whole different ball game. That's way fairer. So
you're talking from basically a flat fee loan for three months?
Speaker 10 (45:52):
Is why can't we use these other farmer's collective months?
Speaker 4 (45:54):
The loan five months? I'm sorry, Tom.
Speaker 17 (45:57):
Yeah, but that's I mean, you're talking right, I mean
you're talking.
Speaker 11 (46:02):
But Darryl, why can't you use your other farm as collateral?
Speaker 4 (46:06):
For you have the other farm land paid?
Speaker 17 (46:09):
Yeah?
Speaker 4 (46:10):
Okay, well can't that well done?
Speaker 15 (46:12):
And you have I'm telling you, Brent can give us
info on this. I know he doesn't do this kind
of stuff through ideal we get.
Speaker 4 (46:19):
Does do this stuff, We'll get him on Mark. I
also have a ton of investors that invest with me,
and that's why I'm asking this question. I mean, I
have all kinds of involved. How about you know another
good one might be Barry I'm not sure. Actually he doesn't.
I don't know if he does private stuff like this.
But here's what we're gonna do. We're gonna ask Brent Ivanson.
(46:39):
Let's get him on for my idea.
Speaker 15 (46:40):
I'm just curious what other people, not whether they'll do
it or not, but what is the going rate or
something like this?
Speaker 4 (46:47):
That's right, Darryl. If you truly have value, truly have value,
there's gonna be no problem getting that money.
Speaker 8 (46:57):
Yeah, I don't.
Speaker 17 (46:58):
I mean, you're you know, talking ten percent. I just
I mean, I guess that's what really I was fishing
for more than anything.
Speaker 4 (47:05):
Well, I don't know it's he percent, Daryl. I don't
know what it's going to cost you. The bottom line is,
I cannot tell you what an investor will expect for
for one million dollars for what really turns out to
be a six month loan. You're looking for a six
month loan of one million dollars, isn't that it in
a nutshell?
Speaker 8 (47:23):
Yeah?
Speaker 4 (47:24):
Okay, so let's figure it out. Hold on, we'll ask
some people who do loans I'll ask my finance people
at Waveight Wealth Management, I'll ask him what, because we
have funds that do stuff like that, but certainly not
high risk, and it's land. Is Land is high risk
for a few reasons because there, while there is value there,
(47:47):
it also has to be purchased by someone who can
extract the value and then some in other words, there
are they're not plentiful buyers. The buyer have to be
able to take the land, subdivide the land, sell the land.
So that's why i'd be interested to know about your
(48:08):
developer and how solid has that developer who's buying your land.
Have they done similar ventures? Yeah, okay, it's it sounds
like you're not a fool. It sounds like you know
what you're doing. So hold on. We'll talk about that
coming up and if anyone has any ideas, give us
a call. Three oh three, seven to one three Talks
seven one three eight two five five. One Clear Choice
(48:30):
Garage Doors for your garage door needs one. Clear Choice
Doors dot Com a great company for all of your
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(48:52):
Denver's best roofer Excel Roofing dot com. You don't pay
a cent until you're content. Time for an insurance check
up free, no obligation. In comparison, call Compass Insurance paying
too much your coverage at dozens of insurance companies find
out now three all three seven to seven to one help.
You'll think you're his only customer when you choose Frank
(49:13):
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, you're a troubleshooter three
all three seven one three talk three all three seven
one three eight two five five. Welcome to the Shultz
Keep going here. Brent Ivenson from Ideal Home Loans one
(49:35):
of our experts. He is an expert in the loan industry,
and even though they don't do private loans, they know
a lot of people and I bet you they've participated
before in the past with some things. Who knows. Brent,
Thanks for being here, so you've got absolutely I know
you probably get calls from people who need a private
loan here and there, and you've probably hooked him up
(49:56):
with an investor. Maybe not, but I know that you
have to know a about them. And what we want
to know is this. We got a guy that owns
a lot of property, a lot of farmland in Weald
County and he says he has a contract with a
developer for two hundred and seventy acres for ten million bucks. Now, again,
(50:17):
I don't know the strength of the contract or the
buyer or anything. Darryl says, he does know that the
buyer has done this before, has developed. So let's assume
it's a decent contract. Let's just assume that for argument's sake,
and he wants a bridge loan until closing. Closing's five months,
so let's call it a six month loan of not
(50:40):
the ten million, but of one million of it. So
if he wanted to take two hundred and seventy acres
and he wanted to do a one million dollar loan
for six months, what do you think a lender, if
truly it a praise in all of that? What loan
to value do you think on a private loan on
(51:00):
vacant land, would a lender be comfortable a private lender
be comfortable with.
Speaker 19 (51:08):
You know, we don't see many of them on just Land. Normally,
when we're dealing in that space, there's a dwelling attached
to it, they're going to appraise the dwelling and they'll
get pretty aggressive on the loan to value, you know,
when we're dealing with the dwelling. So my guess would be,
if you're only looking at ten percent of the appraised
value or you know, the deal, let's call it, my
(51:29):
guests would be you could go to a private investor
and probably get that done. You might even be able
to go to a local bank up there. That would happen.
Appetation nobody.
Speaker 4 (51:39):
You know, that is a good question, Darryl. Have you
tried a bank?
Speaker 20 (51:44):
Well, I haven't even It was just something that I'm just.
Speaker 13 (51:48):
Starting to No.
Speaker 4 (51:49):
I know you're just exploring this right now, Darrel, Yeah, yeah, Darrel, Right,
what about this? What about this? Brent asked something and
that is one tenth of the deal, and or you know,
it's ten percent of the deal and all of that
and you need it for about six months and so
that all sounds and looks good where a lender shouldn't
(52:12):
have a problem. But I'm asking for loan to value Brent,
would you think they would still want fifty percent or
sixty percent loan to value no more, or would they
go eighty or ninety percent.
Speaker 19 (52:22):
Now we've had we've had numerous deals where again this
is on just a home, not a working farm, not
a bunch of acreage where they'll go to, you know,
eighty five and ninety percent on these deals. And again,
the way to think about this stuff, Tom, is these
private equity guys, they want their money out for a
year and then they want to back. So they're going
to charge you a fairly hefty interest rate for that
(52:44):
year to use that money, and then there is a
balloon at the end of that year that's got to
get paid back.
Speaker 4 (52:49):
What do you think, What do you think the points
would be. Let's let's just talk points. What do you
think they would be or would it be just interest?
Speaker 19 (52:58):
No, it would be interesting points. You know, it varies
from deal to deal. You know, we've got a handful
of guys that we use, and you know, it all
depends on what their appetite is.
Speaker 15 (53:07):
Brent, I threw out there. Tell me what you think
of this? Brent, I threw out there. Ten percent origination,
six months deal, no interest.
Speaker 19 (53:18):
Yeah, they're gonna charge They're not gonna charge you ten
percent origination. They'll probably charge you three maybe fourth. Then
they're gonna want an interest right on top of that.
That's right, all the money's out as well.
Speaker 4 (53:28):
Yeah, so so what would that interest be? Do you think,
just from what you're hearing.
Speaker 19 (53:32):
Typically ten to eleven percent?
Speaker 4 (53:34):
Okay, so I mean my deal's better. Yeah, yeah, that
would be.
Speaker 12 (53:37):
You're right.
Speaker 19 (53:39):
I agree your deal is better.
Speaker 4 (53:41):
But but Brent, I also said this with vacant land.
You have to have a special buyer if you want
to get a million dollars back on two hundred and
seventy acres, even though it's worth way more, it's only
worth way more after development. I mean not not after development,
but if you have the capacity to develop, and that's
a rare buyer, and and really that it's not as
(54:05):
locked as you might think it is. But anyway, I
appreciate your time. That's Brent Ivanson, Ideal Home Loans dot
Com three h three eighth sixty seven seven thousand. So
back to you, Darryl.
Speaker 20 (54:17):
Yeah, so so there's the kind So here's my question. Yes, knowing, yeah,
not knowing anything. So does the does the contract mean anything.
Speaker 4 (54:28):
Yes, Yes, it does. Yes, it does. It means that
they're going to be paid back if it's a solid contract.
It absolutely does. Now, did you say you had earnest
money on that contract?
Speaker 9 (54:41):
Yes? I got, Yes I did. I had.
Speaker 20 (54:43):
I had non refundable earnest money upfront that has already
went in and out of escrow and it was non refundable.
Speaker 4 (54:54):
And how much was that? I just want to know.
That'll tell us how serious the buyer is. Five hundred
thousand man, Darryl, This sounds like a solid deal to me.
It does. If you have somebody who put up five
hundred grand that was yours to keep there, they're gonna close.
They're gonna close all that.
Speaker 20 (55:13):
That's the reason why I did it, Tom, because I said,
I'm not gonna I'm not going to put this thing
out for because it's a year that it started out.
That's what it was from start to finishes a year,
and I said, I'm not gonna I'm not going to
do this without hard money.
Speaker 5 (55:29):
That I know that.
Speaker 4 (55:31):
You're serious, Darryl, Daryl, you're a smart man here. I
want to ask something else that'll tell you their seriousness
to close. Because I have walked away from hard money
before because I did some due diligence and it was
the wiser move than to move forward. Now, I didn't
put up five hundred grand, but I have walked away
from two hundred before on a big project because of
(55:55):
the due diligence. So my next question is this, what
do dill legends did they conduct?
Speaker 20 (56:04):
Well, they've they've done quite a bit already.
Speaker 4 (56:09):
Have they been to the county. Have they been to
the county with a put?
Speaker 20 (56:14):
Well, actually this is this is in the city.
Speaker 4 (56:18):
Limits, oh, in Greeley.
Speaker 21 (56:21):
In Greeley, Okay, so they've already went to They've already
went through planning and zoning and the process.
Speaker 4 (56:30):
Darryl, leave your number with Leave your number with Kachina.
You're a real This is a real deal in my opinion.
I mean just what I'm hearing. I'll look into it, Okay, Darryl,
I'll look into it.
Speaker 8 (56:43):
I would I also appreciate it.
Speaker 4 (56:45):
I would also advise this and listen carefully. I think
you should try first. Conventional means it'll be cheaper for you.
Try that.
Speaker 20 (57:00):
Well, Like I said, I you know, marks ten percent.
He'd have to come work on the farm for free
for six months.
Speaker 4 (57:06):
Yeah, no, no, no, no. You know what, when you
think about what he was saying, he's talking about one
hundred grand. Okay, you can just break that down pretty easily.
One hundred grand divided by six right, and that's what
you're talking about is sixteen grand and sixteen almost seventeen
grand a month. Okay, so you have to just amortize that.
(57:27):
See what it is. That is a little high.
Speaker 15 (57:30):
And I hate to tell it to both of you.
I don't think it's high right now.
Speaker 4 (57:33):
Okay, well, did you do that?
Speaker 8 (57:36):
Hold on, hold on?
Speaker 4 (57:38):
No no, no, no, no, no, no no. Did you do
the percentage on it? I haven't done the percentage yet.
If you take a million dollars and you take sixteen
thousand a month amortized, be twenty percent. Yeah, but you're
only talking six months, right, Yeah, that's why it would
be twenty percent. Anyway, here's the deal. I think that's
(58:01):
highway robbery in my opinion, Daryn.
Speaker 9 (58:04):
If you're asking, well, I I that's why I said he's.
Speaker 4 (58:08):
Gonna have I sound we sound like this. We sound
like the shark tank. Now where Mark and I are
arguing over the deal, I'll give you this and I'll
give you this and I'll give you a BackRub. Hey, Darryl, listen, man,
seriously leave your information and uh but I implore you
to explore local conventional banks. Okay, I'm Tom Martine. We
(58:30):
have more coming right up on the Troubleshooter Show. Go
with a sure thing Denver's best roofer Excel Roofing dot com.
You don't pay a cent until you're content. Time for
an insurance check up free, no obligation. In comparison, call
(58:50):
Compass Insurance paying too much your coverage at dozens of
insurance companies find out now three O three seven seven
to one help. You'll think you're his only customer when
you choose Frank durand the real estate Man dot com
to list your home with Remax Alliance three all three
nine two zero sixteen twenty two. Hi Tom Martino here
(59:14):
three all three seven one three talk three all three
seven one three eight two five five. All right, did
you get that guy's information? I'll bet you there are
a lot of private investors that would be interested in
that one. Yep, I emailed it to you. Thank you. Now.
Deputy Bo's got a follow up, but lo, let me
take Andrew first deputy. Uh, Andrew, you have an issue
(59:39):
with Okay, this is for Kevin. It's a twenty thirteen
f one fifty. Go ahead, Andrew, talk to us. Where
you go? Yeah, Andrew, go ahead. Are you there? He's
not there? Okay, I'm gonna put him on a hold.
Check him. I thought he was there. I'm gonna take
bo bo. What's going on with Shamphundai? When was that from?
(01:00:02):
From December eleventh?
Speaker 9 (01:00:05):
Yeah? This was last Wednesday. Mar Major was the host. Okay,
so this one's not turning out good at all. Oh,
k yeah, it's bad. Kenny took his twenty twelve day in.
He had battery issues, so they replaced the harness wiring harness,
(01:00:27):
charged him a thousand dollars, took the vehicle out, drove
it and only drove like four or five miles and
the battery totally drained.
Speaker 15 (01:00:36):
It's got hybrid, tom, so you understand what we're talking about.
Speaker 9 (01:00:39):
Okay, So twelve Monday hybrid.
Speaker 4 (01:00:43):
Okay, okay, so go ahead.
Speaker 9 (01:00:46):
So he took the car back and then they said
he needed a belt tensioner kit. That was eleven hundred dollars.
He gave me the authorization to do that. So during
all of this, one of the technics at this dealership
told Kenny, hey, we think he it's of the text
opinion that it's the battery. The battery losses l and
(01:01:09):
that's what I tend to say.
Speaker 4 (01:01:13):
What was the original job again, did you say it
was only it was only holding ten percent charge or no,
that's not true. Here's what would happen.
Speaker 15 (01:01:23):
The battery would charge up, but it would be completely
dead within ten miles.
Speaker 4 (01:01:28):
It was due to a charging issue, okay, and then
that's when they started removing and replacing. So what happened
what ended up happening.
Speaker 9 (01:01:37):
Now the dealership has told him that there's a noise
in the transmission and in order to make the vehicle light,
they want to replace the transmission. Kenny says, the transmission
has nothing to do with it. Your text said, it's
a battery issue. I have a lifetime work on a battery.
I want you guys to replace the battle.
Speaker 4 (01:01:58):
How much did he spend up to this point twenty
two hundred and still he still had the problem.
Speaker 9 (01:02:06):
The car is still at the shop. They have chomp und.
They will not work, they will not look at the
battery issue and they're not going to do anything till
he agrees to replace the battery.
Speaker 4 (01:02:20):
So Tom, wait wait wait, you mean agree to replace
the transmission.
Speaker 9 (01:02:24):
I'm sorry to transmission.
Speaker 5 (01:02:26):
Yes, sorry, Yeah, but they took twenty five hundred bucks
before they did the transmia.
Speaker 4 (01:02:30):
Now here's what I want to know. Is there a
way we can just have that independently evaluated by another dealer.
Speaker 9 (01:02:36):
Absolutely, that's a great, that's a great.
Speaker 15 (01:02:38):
Yeah, but he's going to be he's when he picks
it up. I assume he's got to pay whatever he
owes there now.
Speaker 4 (01:02:43):
Yeah, but I don't think we'll have a problem getting
it back if it turns out they were full of crap.
Oh look who we're dealing with. Well, small claims call
Mark for twenty two hundred. I think that's true. I
think I think he'd win if we can get it
to a good place, and we know some good Hyundai
places like Donald Hunday.
Speaker 9 (01:03:02):
Yeah. I I called the service manager three times, and
on the fourth time, I said, look, we're gonna go.
I'm gonna have that Kenny go to the dealer board.
Speaker 4 (01:03:12):
If you can, I can. I just tell you this, bro,
Let me just tell you something. First of all, the dealer.
Board's dealing only with They don't deal with service. They
deal only in sales. But let me tell you about Schamp.
They suck. Schamp is a terrible organization. Now, Schamp used
to be a great organization. That's what's said about it.
(01:03:32):
The kid took it over, no no, when the mom
owned it Lisa. Actually the dad had it originally Ralph.
Now then it went to Lisa, and then Lisa I think,
sent it to her son, which was basically unfortunate. Her
son's a freaking idiot.
Speaker 9 (01:03:52):
All right, Well, the caller doesn't want to really pay
to pay the twenty two hundred tom because he feels
that this aireen harness and belt tensioner didn't didn't solve
the problem. It's still the battery just trained out.
Speaker 4 (01:04:08):
Are they looking? Would they let him go and get
it checked?
Speaker 9 (01:04:11):
Probably not now now without paying the bill. I talked
to the Pete Rash that he's this service manager. I
called it on a back door number. He picked up
the phone.
Speaker 7 (01:04:23):
He's very rude to me.
Speaker 9 (01:04:24):
He says, I'm not talking to you till we talked
to our corporate attorneys back east, and I go.
Speaker 4 (01:04:29):
Oh wait, wait, wait, wait, wait wait wait, wait, wait,
wait back you so wait, maybe Shamp's out of there too, now,
is that the sense you got? They don't eat Shomps
night him.
Speaker 9 (01:04:39):
I mean he had he had to go back east
to talk to a corporate attorney and said, we don't
need to talk to an attorney. Let's just help your
customer that has had the car in there for several
weeks and address the battery issue. And he just basically
hung up on me once I told him who I was.
Speaker 4 (01:04:54):
Okay, it's it's I have a feeling that this is
not I mean, does Shamps still own Shomp? Doesn't do anybody?
Does anybody know? I actually don't know. We have to
figure this out.
Speaker 9 (01:05:07):
I have a feeling he don't. Their customer service sucks.
Speaker 4 (01:05:10):
Well it again, that's hard to say because it always sucked.
I mean after the sun took over. So it's either
sucking more or sucking less. I don't know. This is
terrible the message here though, for everyone avoids Shomp. They suck.
That's all I can say. I mean, what else can
(01:05:31):
we do?
Speaker 9 (01:05:32):
But I mean I guess here he'll have to try
and maybe pay the bill to get the car. Do
the car.
Speaker 4 (01:05:38):
Yeah, he can always go back and try to get
some kind of resolution if it turns out they were
full of horse crap? Do you think they were full
of horse crap?
Speaker 9 (01:05:49):
What these two repairs?
Speaker 5 (01:05:51):
Yeah?
Speaker 9 (01:05:52):
Yeah, they It didn't solve the problem.
Speaker 4 (01:05:55):
Yeah, but sometimes just so you know, sometimes it's they
need more than one thing, right keV.
Speaker 5 (01:06:03):
Well, yeah, but why weren't they worried about the transmission
noise before they charge them twenty two hundred bucks? They're
worried about it now that they won't warranty his battery,
but they certainly didn't bring it up before they turn.
Speaker 4 (01:06:14):
Ye bo, They're totally unreasonable, right, yeah.
Speaker 9 (01:06:17):
Right, they want to replace the transmission and what does
that have to do with the flipping battery? I get it,
And they won't address the battery.
Speaker 5 (01:06:25):
He needs to get it out of it.
Speaker 4 (01:06:26):
I gotta take this break though. Uh. Three oh three
seven one three eight two five five. Compass Insurance Group
into a free insurance check up to make sure you're
not paying too much, you're not under insured or maybe
even over insured. It's all free and complementary due to
Compass and the show three oh three nine nine six
nine thousand. The Insurance Help Center dot com go with
(01:06:52):
a sure thing Denver's best roofer Excel Roofing dot com.
You don't pay a cent until you're content. Time for
an insurance check up free, no obligation. In comparison, call
Compass Insurance paying too much your coverage at dozens of
insurance companies find out now three all three seven to
seven to one. Help. You'll think you're his only customer
(01:07:14):
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
here three oh three seven one three talk seven one
three eight two five five. I want to talk to
uh Cris been waiting well, Deputy Bow. Oh, we talked
(01:07:38):
to Deputy Bow. What are we gonna do about that?
I mean, I don't really know yet. We're gonna have
to try to figure out. Maybe he pays.
Speaker 5 (01:07:47):
He gonna have to pay the bill and get it moved.
Speaker 4 (01:07:49):
And pays by credit card, can contest it as well.
Andrew's back. Andrew, you have hot air. You have hot
air blowing out of the dry side on your f
one fifty.
Speaker 19 (01:08:02):
Yeah, fifty.
Speaker 13 (01:08:05):
I can only get heats on the driver's side right now.
Speaker 22 (01:08:09):
Kevin, you say this, I think you take one of
these every week. About blend the blending mote doors. You know,
there's so many different actuators and doors inside there, the
direct air different places.
Speaker 4 (01:08:18):
The fact that you're getting hot air somewhere means the
heater course working.
Speaker 23 (01:08:21):
Yep, yep, yeah, you're just losing the only only one eater?
Speaker 13 (01:08:27):
Is it vacuum operated?
Speaker 5 (01:08:28):
Are those electric?
Speaker 12 (01:08:29):
Electric?
Speaker 5 (01:08:30):
Or electric? Little actuators sit on top of the doors.
The door has like a stem on it, and the
little motor will turn the door open or closed or
halfway and so forth. So probably it's an actuator of
the time.
Speaker 13 (01:08:43):
So I've got the floor shifter?
Speaker 7 (01:08:45):
Is that?
Speaker 13 (01:08:46):
Am I just going to have to tear everything apart.
Speaker 5 (01:08:48):
To get to it? You know, I've got to look
at a diagram because there's so many different ones. Some
you can actually we call it gumby. I got one
guy's got real skinny flexible arms. He gets up in there.
Uh so you can. Some you can get without pulling
the parts. Something You got to pull the whole dash out.
Speaker 4 (01:09:01):
Oh no, yep, are you doing it yourself? Are you
doing it yourself?
Speaker 13 (01:09:06):
Andrew it depends on I mean, I'll bring it into
him and have them.
Speaker 5 (01:09:11):
Look out up on YouTube. You know, they'll give you
some general ideas and.
Speaker 4 (01:09:15):
You can give me a general idea from what to what.
Speaker 5 (01:09:17):
Well, I don't know. I mean it could be one
hundred bucks to you know, plus the actu waiter upwards
to eight to twelve hundred bucks. That's a bit huge spread.
Speaker 4 (01:09:24):
Because of the parts.
Speaker 5 (01:09:25):
No, because one one you can get to like through
the glove box. You take a leg glove box, That's
what I'm asking. So another the next one though you
have to pull the entire dash out.
Speaker 4 (01:09:33):
So if you can get to it, it's a few hundred.
If you can't, it's.
Speaker 16 (01:09:36):
Been twelve to fifteen hundred bucks. Yeah, because of the labor. Yep, yeah, yep,
here's your range, bro, I hope, geez. But you can
find out with a vein number or something.
Speaker 5 (01:09:46):
Well, yeah, we can get a look at it.
Speaker 4 (01:09:49):
You have him take a look at it. Won't cost
you anything. On Tom Martino three oh three seven one
three Talks seven one three eight two five five. We
got another two hours ago on the Troubleshooter Show, Solving problems,
answering questions, taking blanks. Go with a sure thing Denver's
Best roofer Excel Roofing dot com. You don't pay a
(01:10:09):
cent until you're content. Please 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 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
(01:10:31):
Remax Alliance three oh three nine two zero sixteen twenty two.
Speaker 1 (01:10:40):
Ripped news needs so you don't have run as can
Shooter's gonna help.
Speaker 2 (01:10:53):
Come.
Speaker 3 (01:10:54):
This is the Troubleshooter Show. No Tom Martinez.
Speaker 4 (01:10:59):
Hello, I'm Martino here, solving problems, answer questions, taking complaints.
Mark's on remote. And then we have Deputy Dog here.
We have Uncle Kevin Sheridan Auto tech Uncle Kevin. Somebody
wants to know how often do they have to do
their flushing of a coolant system?
Speaker 5 (01:11:17):
Typically every two years? Okay, depending on you, sence and everything,
but yeah, two years is standard.
Speaker 4 (01:11:22):
Okay, two years is standard for that? And uh what
about when just maintaining there's nothing else to do you
just keep the level right?
Speaker 5 (01:11:34):
Yeah? Okay, Yeah, so they're good long life any freezes,
but yeah, two years, three years at the most.
Speaker 4 (01:11:39):
All right, three all three seven one three talk seven
one three eight two five five. Back to the phones.
Darryl has a question on a loan for his property
or for a property. Hey, hey, Daryl, what's going on?
Speaker 21 (01:11:51):
Oh?
Speaker 4 (01:11:51):
Cut, shut up, Mark, I'm gonna Darryl. What's that I'm
doing better than Joe Biden? What's going on with you?
Speaker 11 (01:12:01):
Bro?
Speaker 20 (01:12:02):
Well, that's uh, that's okay, what's happening?
Speaker 6 (01:12:07):
Okay?
Speaker 17 (01:12:07):
So I think it's called a bridge loan, but it's
a bridge loan.
Speaker 4 (01:12:14):
Is a bridge loan is when you're you own a home,
you're selling and you're buying a new one and you
need something in between.
Speaker 17 (01:12:20):
Yeah, so kind of kind of like that. So I
got a piece of property that's under contact that closes
in March.
Speaker 4 (01:12:28):
When you say a piece of property, you're talking about land.
Speaker 18 (01:12:31):
Yeah, okay, And and what what I'm what I'm looking.
Speaker 17 (01:12:36):
For is is to get a loan against the property
before it closes, and then pay it off at closing.
Speaker 4 (01:12:49):
Wait wait, wait, wait, why why do you need it
before closing? Usually you pay at closing.
Speaker 17 (01:12:56):
No, no, no, no, I just I just need some
money between now and closing.
Speaker 4 (01:13:00):
I understand that. I'm just asking not to be nosy.
But for the reason, what do you need the money
for before closing?
Speaker 17 (01:13:09):
Oh okay, I see what you're saying. Yeah, just for
business expenses.
Speaker 4 (01:13:15):
Okay, it has nothing to do with the land.
Speaker 17 (01:13:18):
No. No, And the land is pretty and clear.
Speaker 4 (01:13:20):
Okay, then why did you even mention it? In other words,
I was just confused. What you need is a loan period.
Speaker 17 (01:13:27):
Yeah, like the line of credit, yeah, or something like that.
Speaker 4 (01:13:29):
And it has nothing to do with the land. You
just need a loan.
Speaker 17 (01:13:35):
Well, But the reason why I brought the land up
is because that would be I mean, I don't I
don't you know. Obviously that would be the collateral, right.
Speaker 4 (01:13:42):
Not if you don't own it. It would only be
collateral when you own it.
Speaker 17 (01:13:48):
I own it.
Speaker 4 (01:13:49):
You said you close in March. Wait, wait, are you
buying or selling this property?
Speaker 5 (01:13:55):
Selling?
Speaker 8 (01:13:55):
Now?
Speaker 4 (01:13:56):
I understand. I'm so sorry, bro, I'm so sorry. Now,
so you're sell it. I just assume you're buying it.
So you are selling your land. You have a contract
on it, and you will get paid in March and
you need something to hold you over. I get it. Now.
How sure is that closing?
Speaker 17 (01:14:17):
What do you mean?
Speaker 9 (01:14:18):
Well?
Speaker 4 (01:14:19):
How sure is the closing?
Speaker 20 (01:14:20):
If I wanted to loan your money, you said, yeah,
it's it's it's.
Speaker 17 (01:14:25):
It's like anything, right, It's not one hundred percent?
Speaker 4 (01:14:27):
Okay?
Speaker 6 (01:14:28):
All right?
Speaker 4 (01:14:29):
And what are the terms? When you close it? You're
gonna get cash?
Speaker 9 (01:14:33):
Cash?
Speaker 4 (01:14:33):
And how much you selling it for?
Speaker 17 (01:14:36):
Ten million?
Speaker 4 (01:14:38):
What for ten million? What the hell kind of land
do you have?
Speaker 6 (01:14:46):
Well?
Speaker 17 (01:14:46):
You know what land is, Tom, Well, I.
Speaker 4 (01:14:48):
Do, but to be ten million, I'm just curious what what?
Where is it?
Speaker 8 (01:14:52):
Where you've done it?
Speaker 17 (01:14:53):
You've been there, you've done it.
Speaker 4 (01:14:54):
Yes, I have both the good and the bad and
the ugly. But I want to ask you seriously, where
is no no fooling around?
Speaker 17 (01:15:01):
Where is it Well County?
Speaker 4 (01:15:02):
It's in well County, Well County. I don't think all
of wald counties worth ten million? But okay, what kind
of was waiting for that? Is it commercial? Is it residential?
Speaker 17 (01:15:12):
What is it presidential?
Speaker 4 (01:15:15):
How much? How many acres?
Speaker 17 (01:15:18):
Two and seventy?
Speaker 4 (01:15:19):
Okay? And who's buying it?
Speaker 14 (01:15:22):
Developer?
Speaker 4 (01:15:23):
Okay? All right? And so did you get any earnest money.
I'm trying. Here's why I'm asking, because the strength of
that is going to be the strength of you getting
a loan. But you're saying, you're saying that even if
you don't close, the land is your collateral. So would
you allow someone right now then to put a first
(01:15:43):
deed of trust on that land?
Speaker 17 (01:15:47):
Well, that's probably what it's going to take, right.
Speaker 4 (01:15:49):
I think it's going to take it. Yeah, But when
you said line of credit and stuff, I thought you
were talking unsecured. But okay, so you have two hundred
and seventy acres and you truly okay, So two hundred
and seventy acres, And what I want to know is this,
how much do you have to borrow.
Speaker 17 (01:16:06):
A million?
Speaker 4 (01:16:08):
So with two Now, that to me sounds like an
o brainer because, first of all, I doubt, I doubt, well,
I don't know. I don't know in Welld County, if
it was prime residential land, you're talking you're talking a
value of thirty seven thousand per lot. I'm not sure
or per excuse me, per acre. I'm not sure it's
(01:16:32):
worth that. Maybe it is, I don't know. I don't
know anything about Weld County. But what But the other
thing you're talking makes more sense. You're looking for a
million dollars hold on divided by two seventy. So let's see.
So you're asking for thirty seven hundred dollars an acre
for a loan and I don't know. We let's put
(01:16:54):
it out there, man, somebody.
Speaker 8 (01:16:56):
Origination see I want it? Yeah?
Speaker 17 (01:16:58):
And so what you know? And then and like I said,
I've never done this before. But basically, then when at
closing look.
Speaker 4 (01:17:07):
Then I inator all kinds of things, including loans and
what Mark was talking about when he said ten percent
origination fee might be a little high, but people are
gonna want points up front. It's not high right now,
there's no way for something like that. And for land
and points, they're gonna want at least I think sixty.
They won't go beyond sixty percent loan to value. So
(01:17:31):
do you have an appraisal of the two seventy.
Speaker 6 (01:17:36):
I don't have.
Speaker 17 (01:17:36):
I don't have an appraisal. No, but I'm assuming the
developer did or he wouldn't offer that.
Speaker 4 (01:17:40):
Well, that's not true at all, but sometimes they do
it because they have a hunch. I want to ask
you something. Do you have adjacent property? Yes? Okay, And
I mean adjacent property you don't own.
Speaker 17 (01:17:55):
There's adjacent property I don't own, and there's adjacent property
that I do own.
Speaker 4 (01:18:00):
You, Jason, how did you acquire all this land out
of curiosity? Were you a farmer or what?
Speaker 9 (01:18:05):
Yes?
Speaker 4 (01:18:06):
Okay, and you're you're selling the farm one of them, okay,
and then you know that.
Speaker 15 (01:18:14):
And I think the bottom line, though, is if the
collateral's there, whether it's his home, residence, the land all combined,
it's gonna it's there.
Speaker 4 (01:18:21):
I mean it's a ten percent deal, ten percent interest.
Speaker 15 (01:18:25):
You're saying, No, I'm saying a ten percent origination and
then like closing ninety days or.
Speaker 17 (01:18:31):
Else ten percent origination. Say you're saying, you're saying one
hundred thousand.
Speaker 4 (01:18:38):
Yeah, I'm not sure of that. I'm not sure. I'm
not I'm not disputing it. I'm saying I'm not sure
because like, let's get Brent Ivanson or someone on. Okay,
but he doesn't do he doesn't know private loans, I
don't think, but we can ask him. You're right. And
here's the thing, Darryl, I have done. I have literally
done private loans. In fact, Mark and I have done
(01:19:00):
private loans. So Mark, we didn't charge ten percent, did we?
Speaker 15 (01:19:05):
I think in a case like this, once again, the
biggest thing is if the collateral is there for me
to loan that money to him, how long would you
seriously need it?
Speaker 4 (01:19:17):
Man? When when is it a guaranteed payback? But to
ask you can't ask for a ninety day.
Speaker 15 (01:19:24):
Well, my note would be my note would be called
in whatever time, Tom. I mean, I'm not going to
sit on it for ten years.
Speaker 4 (01:19:30):
No, but if you get listen, man, if you get
ten points, If you get ten points and you get
a decent interest rate, it would be hoofy to have
it out there for how long? How long would it
come back?
Speaker 17 (01:19:45):
In March?
Speaker 15 (01:19:47):
So, I mean he's talking four or five months, So
I would stick with what I said it would be.
It would be called do it that point, and you know,
if something happens and we talked, that's fine, But the
paperwork's not going to say that. But I would want
ten percent origination, and I wouldn't charge you any interest
for the five months I would get that.
Speaker 4 (01:20:06):
Just the origination. That's different. That's a whole different ball game.
That's way fairer. So you're talking from basically a flat
fee loan for three months is why can't you.
Speaker 10 (01:20:18):
Use his other farmer's collabse the loan five months?
Speaker 17 (01:20:21):
I'm sorry, Tom, Yeah, but that's I mean, you're talking
ten percent, right, I mean you're talking ten percent.
Speaker 11 (01:20:28):
But Darryl, why can't you use your other farm as
collateral for me?
Speaker 4 (01:20:32):
You have the other farm land paid?
Speaker 17 (01:20:35):
Yeah?
Speaker 4 (01:20:36):
Okay, well can't that be well done?
Speaker 15 (01:20:38):
And you have I'm telling you, Brent can give us
info on this. I know he doesn't do this kind
of stuff through ideal. Get me does do this stuff.
Speaker 4 (01:20:45):
We'll get him on. Mark. I also have a ton
of investors that invest with me, and that's why I'm
asking this question.
Speaker 15 (01:20:53):
I mean, I have all kinds of involved. How about
you know another good one might be Barry. I'm not
sure actually he I don't know if he does private
stuff like this. But here's what we're gonna do. We're
gonna ask Brent Ivinson. Let's get him on for my idea.
I'm just curious what other people, not whether they'll do
it or not, but what is the going rate or
something like this?
Speaker 4 (01:21:13):
That's right, Darryl, if you truly have value, truly have value,
there's going to be no problem getting that money.
Speaker 8 (01:21:23):
Yeah, I don't.
Speaker 17 (01:21:24):
I mean, you're you know, you're talking ten percent. I
just I mean, I guess that's what really I was
fishing for more than anything.
Speaker 4 (01:21:30):
Well, I don't know it's ten percent, Daryl, I don't
know what it's going to cost you. The bottom line
is I cannot tell you what an investor will expect
for one million dollars for what really turns out to
be a six month loan. You're looking for a six
month loan of one million dollars, isn't that it in
a nutshell?
Speaker 8 (01:21:49):
Yeah?
Speaker 4 (01:21:50):
Okay, so let's figure it out. Hold on, We'll ask
some people who do loans. I'll ask my finance people
at Wave eight Wealth Management. I'll ask him what, because
we have funds that do stuff like that, but certainly
not high risk. And it's land. Is Land is high
risk for a few reasons because there, while there is
(01:22:12):
value there, it also has to be purchased by someone
who can extract the value and then some in other words,
there are they're not plentiful buyers. The buyers have to
be able to take the land, subdivide the land, sell
the land. So that's why I'd be interested to know
(01:22:33):
about your developer and how solid has that developer who's
buying your land, have they done similar ventures? Yeah, okay,
it's it sounds like you're not a fool. It sounds
like you know what you're doing. So hold on. We'll
talk about that coming up, and if anyone has any ideas,
give us a call. Three h three seven to one
three Talks seven one three eight two five five one
(01:22:55):
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choose Frank durand Thereal estate man dot com to list
your home with Remax Alliance three all three nine two
zero sixteen twenty two. Hi Tom Martino, your troubleshooter three
all three seven one three talk three all three seven
one three eight two five five. Welcome to the Shultz
Keep going here. Brent Ivenson from my Deal Home Loans
(01:24:00):
one of our experts. He is an expert in the
loan industry, and even though they don't do private loans,
they know a lot of people and I bet you
they've participated before in the past with some things. Who knows. Brad,
Thanks for being here so as I know, you probably
get calls from people who need a private loan here
and there, and you've probably hooked him up with an investor.
(01:24:23):
Maybe not, but I know that you have to know
about them. And what we want to know is this.
We got a guy that owns a lot of property,
a lot of farmland in Weald County and he says
he has a contract with a developer for two hundred
and seventy acres for ten million bucks. Now, again, I
don't know the strength of the contract or the buyer
(01:24:45):
or anything. Darryl says he does know that the buyer
has done this before, has developed, So let's assume it's
a decent contract. Let's just assume that for argument's sake,
and he wants a bridge loan until closing closings five months,
So let's call it a six month loan of not
(01:25:05):
the ten million, but of one million of it. So
if he wanted to take two hundred and seventy acres
and he wanted to do a one million dollar loan
for six months, what do you think a lender, if
truly it a praise in all of that, what loan
to value do you think on a private loan on
(01:25:26):
vacant land would a lender be comfortable a private lender
be comfortable with.
Speaker 12 (01:25:33):
You know, we don't see many of them on just land.
Speaker 19 (01:25:37):
Normally, when we're dealing in that space, there's a dwelling
attached to it.
Speaker 12 (01:25:40):
They're going to appraise the.
Speaker 19 (01:25:42):
Dwelling and they'll get pretty aggressive on the loan to value,
you know, when we're dealing with the dwelling. So my
guess would be, if you're only looking at ten percent
of the appraised value or you know, the deal let's
call it, my guess would be you could go to
a private investor and probably get that done. You might
even be able to go to a local bank up
(01:26:02):
there that.
Speaker 4 (01:26:03):
Would happen happening you know, you know that is a
good question, Darryl. Have you tried a bank?
Speaker 20 (01:26:09):
Well, I haven't even It was just something that I'm just.
Speaker 7 (01:26:14):
Starting to no.
Speaker 4 (01:26:15):
I know you're just exploring this right now, Daryl, Yeah, yeah, Darryl,
all right, what about this? What about this? Brent asked
something and that is one tenth of the deal and
or you know, it's ten percent of the deal and
all of that, and you need it for about six months,
and so that all sounds and looks good where a
(01:26:37):
lender shouldn't have a problem. But I'm asking for loan
to value, Brent, would you think they would still want
fifty percent or sixty percent loan to value no more?
Or would they go eighty or ninety percent?
Speaker 17 (01:26:48):
Tully.
Speaker 19 (01:26:48):
We've had we've had numerous deals where again this is
on just a home, not a working farm, not a
bunch of acreage, where they'll go to you know, eighty
five and ninety percent on these deals. And again, the
way to think about this stuff, Tom, is these private
equity guys, they want their money out for a year
and then they want to back. So they're going to
charge you a fairly hefty interest rate for that year
(01:27:10):
to use that money, and then there is a balloon
at the end of that year that's got to get
paid back.
Speaker 4 (01:27:15):
What do you think, what do you think the points
would be. Let's let's just talk points. What do you
think they would be? Or would it be just interest?
Speaker 19 (01:27:23):
No, it would be interesting points, you know, and it
varies from deal to deal. You know, we've got a
handful of guys that we use, and you know, it
all depends on what their appetite is.
Speaker 15 (01:27:33):
Brent I threw out there, Tell me what you think
of this.
Speaker 4 (01:27:36):
Brent I threw out there.
Speaker 15 (01:27:37):
Ten percent origination, six months deal, no interest.
Speaker 19 (01:27:43):
Yeah, they're gonna charge They're not going to charge you
ten percent origination. They'll probably charge you three maybe four.
But then they're gonna want an interest on top of that.
That's right, while the money's out as well.
Speaker 4 (01:27:54):
Yeah, so what would that interest be? Do you think
just from what you're.
Speaker 19 (01:27:57):
Hearing, typically ten to eleven percent?
Speaker 4 (01:28:00):
Okay, so I mean my deal is better? Yeah, yeah, that.
Speaker 19 (01:28:02):
Would be You're right, I agree is better.
Speaker 4 (01:28:06):
But but brent I also said this with vacant land,
you have to have a special buyer if you want
to get a million dollars back on two hundred and
seventy acres even though it's worth way more. It's only
worth way more after development. I mean, not not after development,
but if you have the capacity to develop. And that's
a rare buyer and and really that it's not as
(01:28:30):
locked as you might think it is. But anyway, I
appreciate your time. That's Brent Ivanson, Ideal Home Loans dot
Com three h three eighth sixty seven seven thousand. So
back to you, Darryl.
Speaker 20 (01:28:42):
Yeah, so so there's the cod.
Speaker 9 (01:28:44):
So here's my question.
Speaker 8 (01:28:45):
Yes, knowing, yeah, not knowing anything.
Speaker 20 (01:28:48):
So does the does the contract mean anything?
Speaker 4 (01:28:53):
Yes? Yes it does, Yes it does. It means that
they're going to be paid back if it's a solid contract.
It absolutely does. Now did you say you had earnest
money on that contract?
Speaker 5 (01:29:07):
Yes?
Speaker 9 (01:29:07):
I got, Yes, I did. I had.
Speaker 20 (01:29:09):
I had non refundable earnest money up front that has
already went in and out of escrow and it was
non refundable.
Speaker 4 (01:29:20):
And how much was that? I just want to know.
That'll tell us how serious the buyer is. Five hundred
thousand man, Daryl, This sounds like a solid deal to me.
It does if you have somebody who put up five
hundred grand that was yours to keep, they're they're going
to close, they're going to close.
Speaker 20 (01:29:38):
Well that that's the reason why I did it, Tom,
because I said, I'm not gonna I'm not going to
put this thing out for because it's a year that
it started out. That's what it was from start to
finishes a year. And I said, I'm not gonna. I'm
not going to do this without hard money. That I
know that you're serious, Darryl.
Speaker 4 (01:29:58):
Darryl, you're a smart man here. I want to ask
something else that'll tell you their seriousness to close, because
I have walked away from hard money before because I
did some due diligence and it was the wiser move
than to move forward. Now, I didn't put up five
hundred grand, but I have walked away from two hundred
before on a big project because of the due diligence.
(01:30:21):
So my next question is this, what due diligence did
they conduct?
Speaker 20 (01:30:29):
Well, they've done quite a bit already.
Speaker 4 (01:30:34):
Have they been to the county. Have they been to
the county with a put Yeah?
Speaker 20 (01:30:40):
Well, actually this is in the city limits.
Speaker 4 (01:30:45):
Oh in Greeley.
Speaker 21 (01:30:47):
In Greeley, Okay, so they've already went to they've already
went through planning and zoning and the process.
Speaker 4 (01:30:56):
Darryl, leave your number with, Leave your number with. You're
a real This is a real deal in my opinion.
I mean, just what I'm hearing. I'll look into it, Okay, Darryl,
I'll look into it. I would I also appreciate it.
I would also advise this and listen carefully. I think
(01:31:17):
you should try first. Conventional means it'll be cheaper for you.
Try that first.
Speaker 20 (01:31:25):
Well, like I said, I you know, marks ten percent,
he'd have to come work on the farm for free
for six months.
Speaker 4 (01:31:32):
Yeah, no, no, no, you know what, when you think
about what he was saying, he's talking about one hundred grand. Okay,
you can just break that down pretty easily. One hundred
grand divided by six right, and that's what you're talking
about is sixteen grand and sixteen almost seventeen grand a month. Okay,
so you have to just admortize that. See what it is.
(01:31:54):
That is a little high. And I hate to tell
it to both of you. I don't think it's high
right now, Okay, well, did you do that?
Speaker 8 (01:32:02):
Hold on?
Speaker 4 (01:32:02):
Hold on, no, no, no, no, no, no, no, no, did
you do the percentage on it. I haven't done the
percentage yet. If you take a million dollars and you
take sixteen thousand a month amortone be twenty percent. Yeah,
but you're only talking six months, right, Yeah, that's why
it would be twenty percent. Anyway, here's the deal. I
(01:32:26):
think that's highway robbery in my opinion, Daryl. If you're asking, well,
I that's reaan why I said he's gonna I sound
we sound like this. We sound like the shark tank
now where Mark and I are arguing over the deal.
I'll give you this, and I'll give you this, and
I'll give you a BackRub. Hey, Darryl, listen, man, seriously
leave your information and uh but I implore you to
(01:32:50):
explore local conventional banks. Okay, I'm Tom Martinez. We have
more coming right up on the Troubleshooter Show. Go with
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You don't pay a cent until you're content, wait time
(01:33:13):
for an insurance check up free no obligation comparison call
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to one. Help. You'll think you're his only customer when
you choose Frank durand the real estate man dot com
to list your home with Remax Alliance three all three
nine two zero sixteen twenty two. Hi Tom Martine here
(01:33:40):
three all three seven one three talk three all three
seven one three eight two five five All right, did
you get that guy's information? I'll bet you there are
a lot of private investors that would be interested in
that one. Yep, I emailed it to you. Thank you. Now,
Deputy Bo's got a follow up. But lo let me
take a Andrew first. Deputy Andrew, you have an issue
(01:34:05):
with Okay, this is for Kevin. It's a twenty thirteen
f one fifty. Go ahead, Andrew talk to us. There
you go, yeah, Andrew, go ahead. Are you there? He's
not there? Okay, I'm gonna put him on a hold.
Check him. I thought he was there. I'm gonna take
Bo Bo. What's going on with champ Hyundai? When was
(01:34:27):
that from? From December eleventh?
Speaker 6 (01:34:31):
Yeah?
Speaker 9 (01:34:31):
This was last Wednesday. Mar Major was the host. Okay,
so this one's not turning out good at all? Oh Kat, Yeah,
it's bad. Kenny took his twenty twelve Hyundai in. He
had battery issues, so they replaced the harness wiring harness,
(01:34:53):
charged him a thousand dollars, took the vehicle out, drove
it and only drove like four or five miles and
a battery totally drained.
Speaker 4 (01:35:02):
It's not hybrid, tom, So you understand what we're talking about.
Speaker 9 (01:35:05):
Okay, So twelvenday hybrid?
Speaker 4 (01:35:09):
Okay, okay, so go ahead.
Speaker 9 (01:35:12):
So he took the car back and then they said
he needed a belt tension or kit. That was eleven dollars.
He gave me the authorization to do that. So during
all of this, one of the technicians that this dealership
told Kenny, hey, we think he's of the text opinion
that it's the battery. The battery loss is l and
(01:35:35):
that's what I tend to think.
Speaker 4 (01:35:39):
What was the original job again, did you say it
was only it was only holding ten percent charge or no,
that's not true. Here's what would happen.
Speaker 15 (01:35:49):
The battery would charge up, but it would be completely
dead within ten miles.
Speaker 4 (01:35:54):
It was due to a charging issue, okay. And then
that's when they started removed and replacing. So what happened?
What ended up happening.
Speaker 9 (01:36:03):
Now the dealership has told him that there's a noise
in the transmission and in order to make the vehicle light,
they want to replace the transmission. Kenny says, the transmission
has nothing to do with it. Your text said, it's
a battery issue. I have a lifetime work on a battery.
I want you guys to replace the battle.
Speaker 4 (01:36:24):
How much did he spend up to this point twenty
two hundred and still he still had the problem.
Speaker 9 (01:36:32):
The car is still at the shop. They have chomp
one day. They will not work, they will not look
at the battery issue, and they're not going to do
anything until he agrees to replace the battery.
Speaker 4 (01:36:46):
So Tom, wait, wait, wait you mean agree to replace
the transmission.
Speaker 9 (01:36:50):
I'm sorry to be transmission.
Speaker 5 (01:36:52):
Yes, sorry, Yeah, but they took twenty five hundred bucks
before they've did the transmion.
Speaker 4 (01:36:56):
Now here's what I want to know. Is there a
way we can just have that independent evaluated by another dealer?
Speaker 9 (01:37:02):
Absolutely, that's a great, that's a great.
Speaker 15 (01:37:04):
Yeah, but he's gonna be he's when he picks it up.
I assume he's got to pay whatever he owes there now.
Speaker 4 (01:37:09):
Yeah, but I don't think we'll have a problem getting
it back if it turns out they were full of crap.
Look who we're dealing with. Well small claims called Mark
for twenty two hundred. I think that's true. I think
I think he'd win if we can get it to
a good place, and we know some good Hyundai places
like McDonald Hyundai.
Speaker 9 (01:37:28):
Yeah, I called. I called the service manager three times,
and on the fourth time, I said, look, we're gonna go.
I'm gonna have that. Can you go to the dealer
board if you can, I can.
Speaker 4 (01:37:39):
I just tell you this, bro. Let me just tell
you something. First of all, the dealer board's dealing only
with They don't deal with service. They deal only in sales.
But let me tell you about Schamp. They suck. Schamp
is a terrible organization. Now, Schamp used to be a
great organization. That's what's sad about it. The kids took
it over. No, No, when the mom owned it, Lisa,
(01:38:04):
Actually the dad had it originally, Ralph. Now then it
went to Lisa, and then Lisa I think, sent it
to her son, which was basically unfortunate. Her son's a
freaking idiot.
Speaker 9 (01:38:18):
All right, Well, the car doesn't want to really pay
to pay the twenty two hundred tom because he feels
that this wiring, harness and belt tensioner didn't solve the problem.
It's still the battery just trained out.
Speaker 4 (01:38:34):
Are they looking? Would they let him go and get
it checked?
Speaker 9 (01:38:37):
Probably not now now without paying the bill. I talked
to the Pete rash that he's this service manager. I
called it on a back door number. He picked up
the phone. He's very rude to me. He says, I'm
not talking to you till we talked to our corporate
attorneys back east, and I go, oh.
Speaker 4 (01:38:55):
Wait, wait wait wait wait wait wait wait wait wait
back you so wait? Maybe out of there too? Now?
Is that the sense you got? They don't eat shomps?
Night him?
Speaker 9 (01:39:05):
I mean he had he had to go back He's
to talk to a corporate attorney and said, we don't
need to talk to an attorney. Let's just help your
customer that has had the car in here for several
weeks and addressed the battery issue, and he just basically
hung up on me once I told him who I was.
Speaker 4 (01:39:20):
Okay, it's it's I have a feeling that this is
not I mean, does shamp still own shomp doesn't do anybody?
Does anybody know? I actually don't know. We have to
figure this out.
Speaker 9 (01:39:33):
I have a feeling he don't, cause their customer service sucks.
Speaker 4 (01:39:36):
Well it ok A, yeah, that's hard to say because
it always sucked. I mean after the sun took over.
So it's either sucking more or sucking less. I don't know.
This is terrible. The message here though, for everyone avoids shomp.
They suck. That's all I can say. I mean, what
(01:39:57):
else can we do?
Speaker 9 (01:39:58):
But I mean I guess here he'll have to try
and maybe pay the bail and to get the car.
Speaker 6 (01:40:03):
Do the car.
Speaker 4 (01:40:04):
Yeah, he can always go back and try to get
some kind of resolution if it turns out they were
full of horse crap. Do you think they were full
of horse crap.
Speaker 9 (01:40:15):
With these two repairs?
Speaker 5 (01:40:17):
Yeah?
Speaker 9 (01:40:18):
Yeah, they It didn't solve the problem, he.
Speaker 4 (01:40:20):
Has the Yeah, but sometimes just so you know, sometimes
it's they need more than one thing, right Kevin?
Speaker 5 (01:40:29):
Well, yeah, but why weren't they worried about the transmission
noise before they charge them twenty two hundred bucks? They're
worried about it now that they won't warranty his battery.
But they certainly didn't bring it up before they church.
Speaker 4 (01:40:40):
Yeah, they're totally unreasonable, right, yeah, right, they want to
replace the transmission and what does that have.
Speaker 9 (01:40:47):
To do with the flipping battery? I get it, and
they won't address the battery.
Speaker 5 (01:40:51):
He needs to get it out of it.
Speaker 4 (01:40:52):
I got to take I gotta take this break though,
uh three all three seven one three eight two five five.
Compass Insurance Group into a insurance check up to make
sure you're not paying too much, you're not under insured
or maybe even over insured. It's all free and complementary
due to Compass and the show three oh three nine
nine six nine thousand the Insurancehealthcenter dot com. Go with
(01:41:18):
a sure thing Denver's Best roofer Excel Roofing dot com.
You don't pay a cent until you're content time for
an insurance check up, free, no obligation. In comparison, call
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insurance companies find out now three oh three seven seven
to one help. You'll think you're his only customer when
(01:41:40):
you choose Frank durand the real estate Man dot com
to list your home with Remax Alliance three oh three
nine two zero sixteen twenty two. Hi, Tom Martine here
three oh three seven one three talk seven one three
eight two five five. I want to talk to you. Uh,
(01:42:01):
he's been waiting. Well, Deputy Bow. Oh, well we talked
to Deputy Bow. What are we going to do about that?
I mean, I don't really know yet. We're going to
have to try to figure out. Maybe he pays, he.
Speaker 5 (01:42:14):
Don't have to pay the bill and get it moved.
Speaker 4 (01:42:15):
And pays by credit card, can contest it as well.
Andrew is back. Andrew, you have hot air. You have
hot air blowing out of the driver's side on your
f one fifty.
Speaker 13 (01:42:28):
Yeah, fifty. I can only get heats on the driver's
side right now.
Speaker 4 (01:42:35):
Kevin, you say this, I think you take one of
these every week. About Blend, the Blend and Mote doors.
Speaker 5 (01:42:40):
You know, there's so many different actuators and doors inside there,
the direct air different places.
Speaker 4 (01:42:44):
The fact that you're getting hot air somewhere means the
heater core is working.
Speaker 23 (01:42:47):
Yep, yep, yeah, you're just losing the only only one
eater is it vacuum operated?
Speaker 9 (01:42:54):
Are those electric?
Speaker 5 (01:42:56):
Little actuators sit on top of the doors. The door
has like a stem on it and the little motor
will turn the door open or closed or halfway and
so forth. So probably it's an actuator ninety percent of
the time.
Speaker 13 (01:43:09):
So I've got the floor shifter?
Speaker 6 (01:43:11):
Is that?
Speaker 13 (01:43:12):
Am I just going to have to tear everything apart.
Speaker 12 (01:43:14):
To get to it?
Speaker 5 (01:43:15):
You know, I've got to look at a diagram because
there's so many different ones. Some you can actually we
call it gumby. I got one guy's got real skinny
flexible arms. He gets up in there. Uh so you can.
Some you can get without pulling it aparts. Some you
got to pull the whole dash out.
Speaker 4 (01:43:27):
Yeah, no, yep, are you doing it yourself? Are you
doing it yourself? Andrew?
Speaker 13 (01:43:33):
It depends on I mean, I'll bring it into him.
Speaker 5 (01:43:36):
And have to look it up on YouTube. You know.
They'll give you some general ideas.
Speaker 4 (01:43:41):
And give me a general idea from what to what?
Speaker 5 (01:43:43):
Well, I don't know. I mean it could be one
hundred bucks to you know, plus the actuator upwards to
eight to twelve hundred bucks. That's a huge spread.
Speaker 4 (01:43:50):
Because of the parts.
Speaker 5 (01:43:51):
No, because one one you can get to like through
the glove box.
Speaker 4 (01:43:55):
You take a let glove box, That's what I'm asking.
Speaker 5 (01:43:57):
And another the next one though you have to pull
the entire dash out.
Speaker 4 (01:44:00):
And get to it as a few hundred If you can't.
Speaker 16 (01:44:02):
It been twelve to fifteen hundred bucks. Yeah, because of
the labor. Yep, yeah, yep, there's your range, bro. I
hope these but you can find out with the VIN
number or something.
Speaker 5 (01:44:12):
Well, yeah, we did. We did get a look at
it today.
Speaker 4 (01:44:15):
You have them take a look at it. Won't cost
you anything on Tom Martino three oh three seven one
three talks seven one three eight two five five. We
got another two hours ago on the Troubleshooter Show. Solving problems,
answering questions, taking complaints. Go with a sure thing Denvers
Best Roofer, Excel Roofing dot com. You don't pay a
(01:44:35):
cent until you're contenth time for an insurance check up,
free no obligation comparison call Compass Insurance paying too much
your coverage at dozens of insurance companies find out now
three oh three seven to seven to one help. You'll
think you're his only customer when you choose Frank durand
the real estate Man dot com to list your home
(01:44:56):
with Remax Alliance three oh three nine two zero sixty
twenty two.
Speaker 2 (01:45:01):
Yeah ripped up new need advice. Who you don't have,
come running just.
Speaker 3 (01:45:14):
As fast as we can.
Speaker 1 (01:45:17):
Shooter's gonna help come.
Speaker 3 (01:45:19):
Man six is the Troubleshooter Show. Now, Tom Martino, Hey.
Speaker 4 (01:45:26):
Tom Martino here, Welcome to the show. Three all three
seven one three talk is the local number here in
the studio. You can call directly, or you can call
twenty four to seven three oh three Martino and you'll
get through when we're here. Three oh three six two
seven eight four six six. Before the end of the
last hour, I was talking about, Uh, the monsters are
(01:45:48):
due on Maple Street a Twilight Zone episode where aliens
disrupted the power in this neighborhood Maple Street and isolated
the people and I think their cars wouldn't run or anything,
so they're all isolated. And then they started casting suspicion
on each other as to who caused her, what they're
(01:46:09):
all about, and how weird they are, and the the
whole theme of the of the of the whole thing
was that aliens did this on purpose, and the neighborhood
devolves into chaos, and then they say to each other
how easy it is to manipulate humans into self destruction
(01:46:32):
and paranoia and suspicion of each other. And they say,
now all we have to do is do this in
other streets. And so with the when and when, I
I remember hearing about the the drones, and people are saying, oh,
it's this, it's that, it's the cartel, it's the government,
it's uh whatever. There's there's a million theories, and I'm
(01:46:54):
thinking there's some aliens watching saying, hmm, this doesn't take much.
Speaker 10 (01:46:59):
Remember the one to Serve Man that was the best
Twilight Zone.
Speaker 4 (01:47:03):
Serf man to serve s the rve Well just I
don't may not know the title, but what was it about.
Speaker 11 (01:47:09):
Well, these aliens came down and they did all these
great things to the humanity and then they said, you
know what, if you like it here, you can go
back to our planet. It'll even be better. And they
have this book that said to serve Man and it
turned out to be a cookbook.
Speaker 4 (01:47:25):
Oh god, how ridiculous.
Speaker 10 (01:47:28):
But that was a true Twilight episode.
Speaker 4 (01:47:30):
I truly loved the episodes of Twilight Zone. How about
the one where you see these people talking about you
see these people talking over a patient. Oh yeah, and
she's being unwrapped after plastic surgery, and you just hear
(01:47:52):
voices and you can see and you're seeing through the
eyes of the patient as the as the mummy is
being unwrapped, how hers her raps are coming off, and
it's getting lighter and lighter, and they say we and
one nurse you can hear saying, I hope we've taken
(01:48:12):
away her hideous looks, and let's hope this worked, this
surgery so she can blend in with society instead of
being a freak, basically right, And they keep unwrapping and unwrapping,
and all of a sudden, now there was there was
a bunch before the episode, but you never saw the
(01:48:34):
people involved. You only saw her rap So finally, first
you're seeing it from her. You know, you're absolutely seeing
it first from her eyes, because when they unwrap her
eyes and she looks out, they scream and say, oh
my god, she's still hideous and ugly. And what the
(01:48:55):
patient is looking at are pig men and pig women,
and what they're looking at is a beautiful blonde woman
who is the patient. And the beautiful blonde woman was
the one who was having the surgery done to try
to get rid of those hideous looks. And it didn't work.
And so at first you're seeing it through her eyes
(01:49:16):
as they're unwrapping the bandages, and then you hear them
scream and the doctor leans over her and says she's
still hideous, and that doctor is a pig man. So
the whole the whole episode was beauty is in the
eyes of the Beholder, right, And all of their episodes
(01:49:36):
had single themes like that basically on It's just amazing anyway,
there was one where people were in an environment and
they kept disappearing, or they kept appearing new ones, and
then food would just magically appear, and toys for the
(01:49:58):
kids and all that, and it turns out at the
end they were playthings in an artificial environment for some
kind of giant aliens and it was akin to how
what we do with animals and gerbils and all that.
So it was just another weird episode. I may not
(01:50:18):
be thinking of the details exactly, but the themes for sure,
and I just always thought they were ingenius. And then
Star Trek tried to do that in another way, not
so much in a horror genre, but in a science
fiction e space drama anyway. So if it's just cool anyway, Raven.
(01:50:42):
She wants to talk about her transmission. Hey, Raven, twenty
twenty one buick in vision. Wait, Raven, this is one
we took. I remember you. I'm sorry. I told you
to wait and see what they did with the rental car.
To make a long story short, this woman bought this
car new and had nothing but trouble, nothing nothing, nothing
but trouble. And she just got so frustrated with them.
(01:51:05):
And they said it was the control module, right, Kevin,
and it would take months, possibly years.
Speaker 5 (01:51:11):
Well I think they were sarcastic saying years, but yeah.
Speaker 4 (01:51:14):
Anyway, she was so upset, and they said, and if
you keep calling here, we're going to take your your
loaner away, or we're going to make you pay for it.
And I told her, as long as she has a loaner,
let it go, because that's less miles and where she's
putting on her call wall to sit at the dealer.
And as long as they're willing to replace whatever the
(01:51:36):
module is and pay for a that's free use of
that car. Go as long as we can. And then
what we'll do is check back in a month or
two to see if the parts in what why are
you calling so soon. Did something change, Yes.
Speaker 24 (01:51:53):
Sir, after we got I was so lound up. But
you she said you would have an investor contact soon.
And what had happened was I just got off the phone.
I didn't get to tell you on the radio that
I spoke with Alisa, who was supposed to be customer
service of General Motors. But about October sixteenth, when I
(01:52:17):
told my vehicle back to the dealership, the dealership basically
told me that they were not the ones.
Speaker 10 (01:52:24):
It was General Motors.
Speaker 24 (01:52:25):
So I contacted them and at that time asked for
some answers. Well, there's just now. I received a call
from Alisa but the case number, and she'd liked to
let me know ahead of times that they are not
reproducing my vehicle. I've been declined for anything. And the
part is if they have it will not even be
(01:52:46):
shipped for till February.
Speaker 4 (01:52:50):
Ending of February, Okay, all right, Yeah, we suspected it
was going to be a while. But they're also providing
a loaner vehicle, yes, sir, but.
Speaker 24 (01:53:01):
They also said they're not going to do a repurchase
show for me, not even to have that considered.
Speaker 4 (01:53:07):
Well, first of all, Raven, they don't get to decide
if they're doing a repurchase. Okay, they don't get to
decide that. And again, right now, I think you should
do what I said. You're getting yourself worked up because
there's no reason to get yourself worked up. You're not
using your twenty twenty one buick in vision, you're not
(01:53:27):
putting miles on it. You're using the vehicle they're supplying
to you at their cost. And the here's the here's
the ultimate downside. Okay, let's say let's say that you
have a loaner. I'm not saying this would happen. You
have a loaner for three years. It did you no harm.
(01:53:48):
You never have to worry about it. If you don't
have to do maintenance, you don't have to do tires,
you don't have to do anything but gas. You literally
have a free car. If that was worst case, it's
not going to be. But when they tell you, oh,
by the way, we looked at your case number, your
car is not I don't know what they mean, is
not being supported anymore. But no matter what, if they
(01:54:11):
cannot fix this car under warranty, now, if they want
to rent you a car the rest of your life,
I guess they could do that if they want. Technically
they won't, but they don't get to say whether they're
going to repurchase it, because, as you heard from the
attorney we had on she said, she said, you absolutely
(01:54:32):
have a good case against them, and this is a
case for repurchase or for damages. So I don't see
how they're going to get out of it. Why do
you even let see, Raven, just listen to us and
don't let yourself get worked up? Right now, what does
it matter if for the next year you have a
replacement vehicle? What does it matter? Tell me? Is there
(01:54:55):
some emotional attachment?
Speaker 24 (01:54:57):
What would be the I think it was it was
the lie seeing that I was able to work for
and pay off and now I'm sick.
Speaker 4 (01:55:05):
And Raven, Raven, I'm asking a question, please, dear. I
know that you're focused on your health. I understand, But
if if truly for the next year you drove a
nice replacement vehicle, what harm would it do you?
Speaker 24 (01:55:28):
I guess I wanted to enjoy the car that I
picked for myself.
Speaker 4 (01:55:32):
I understand that, I totally do.
Speaker 5 (01:55:36):
Let me.
Speaker 4 (01:55:36):
I understand that. Yeah, that's reasonable, That's what I was asking,
But it's doing you no harm, really.
Speaker 24 (01:55:43):
And you're right. I just wanted to update you that
that's what they said. So I got nervous when the
lawyer told us arbitration we could ask for repurchase that way.
Speaker 4 (01:55:53):
What she meant was, here's what she meant, she says,
Tom right now. Here's what she said, Tom, right now.
They're paying for the placement vehicle, so we ought to
ride that. The next thing is, let's see how long
it takes to get the part. And then the next
thing is if they can't do any of those, the
replacement vehicle or the part, then we can sue them.
(01:56:17):
And she most assuredly will either get her money back
or another car. That's what and it hasn't changed, Raven.
Don't let anyone upset you. And you did right by.
You did right by calling us back. We're on your side, okay,
we really are. Okay, thank you very much, and we do.
(01:56:38):
How can I say this, We babysit these cases. We
have someone on it and we will get directly involved.
Speaker 7 (01:56:46):
Now.
Speaker 4 (01:56:46):
I know in the media, by the way, there are
all kinds of people who claim to solve problems and
to be on your side and whatever other moniker they
want to give and I understand that, and there's nothing
wrong with that. The more people we can get shaken
up the system, the better. But they do one thing,
(01:57:09):
and one thing only. They draw publicity to it, which
is good, But they never get directly involved. Never, not once,
not once have any of them hired an attorney, Not
once have any of them gone to court, Not once
have any of them ever did anything like find another
(01:57:31):
contractor to do it. So when people say they get involved,
they're on your side and they're problem solvers. You know
that's good. It's better than nothing. But trust me when
I tell you this brand that I built over forty
five or fifty years, this is direct involvement for you.
(01:57:53):
I'm Tom Martinez. We got more coming up. Go with
a sure thing Denver's Best Roofer Excel Roofing dot com.
You don't pay a cent until you're content, Wait time
for an insurance check up free, no obligation. In comparison,
call Compass Insurance paying too much your coverage at dozens
(01:58:17):
of insurance companies find out now three all three seven
seven to one help. You'll think you're his only customer
when you choose Frank durand the real estate man dot
com to list your home with Remax Alliance three all
three nine two zero sixteen twenty two. All right, I'm
Tom Martino. You're a troubleshooter. I'm not sure what this
text means. And by the way, you can text me
(01:58:39):
at twenty four to seven. You can always text me
and uh or during the show, and then my Google
number comes right to my cell phone. It's seven four
seven nine nine nine fifty two eighty seven four seven
nine nine nine fifty two eighty. You can also do
(01:58:59):
that a iHeart short code that all the other shows
use as well, five seven seven thirty nine. But anyway,
so on my Google text, it says, have you noticed
all buicks are driven by Chicanos? What the hell does
that mean? I no, okay, but okay, and I don't
(01:59:23):
know what that was supposed to be a joke. And
then the other one says, Tom, here's what here's something
from Wikipedia. According to witness reports, the drones flew in
grid grid formations in groups of nineteen up to nineteen
visible at night between six and ten. The FAA, FBI,
(01:59:46):
and local law enforcement investigated, but have not yet determined
the operator of the drones flying drones at night without
a waiver is a violation of federal Well why haven't
they done anything about it? I find that shock that.
I mean, are we that stupid? Well, I'll bet you
those drones will be shot down if ever they had
(02:00:07):
like magaflat maga lights, you know, like LED's maga. Anyway,
sometimes digital hoarding is good. I talked about digital hoarding guys,
and it's where you have everything on your computer like
you went around a house. You never get rid of
a file. Anyway, sometimes it's good. I have a computer
(02:00:30):
repair shop here in Sterling, and there's been times when
we have to reload a customer's computer and they have
specific software they use. Oftentimes we can find that software
from their old downloads. Okay, I see what they're saying.
All they have to do are a computer backups. You
(02:00:50):
don't have to do a hoarding. But anyway, like last week,
we had to reload a customer's computer. They had an
older version of QuickBooks and didn't want to up date.
So they oh, I see, so anyway, well that would
if you update, you can update all that. You know.
What I mean is backup is what I mean. She
was able to find the original version from four or
(02:01:12):
five years ago, So in this case, hoarding served her
to get her computer back to the way. It was, actually,
all right, Tom, glad you're doing better than our president
Joe Biden, because I'm sure he can't wait to move
on from that meat grinder of the White House. And
(02:01:32):
that's because I was saying, hey, at least they'm doing
better than Biden, right, because people sometimes make fun of me, Okay,
but good fun there. There's no one vicious here. Somebody
wants to know what about mineral rights? And that was
based on a call about and it's too much to
get into, but basically, I just want to say this,
Mineral rights do not always go along with land rights,
(02:01:55):
not only sometimes they were sold earlier and when you
buy land, someone who as the mineral rights may have
access to your land to get those minerals. And it
depends on what the deed restrictions are.
Speaker 11 (02:02:08):
Is that what Title Insurance will cover, Tom, Title Insurance
will show it, right, Yeah, they'll show exceptions, obligation.
Speaker 4 (02:02:15):
They'll show exceptions. Yeah. Now, looking for an extended warranty
for my twenty twenty one GMC Sierra fifteen hundred, I
am out of my three year thirty six thousand mile
factory warranty. So what they're looking for is a true
extended warranty, one they can pick up. Now. Now, what's
odd is a GM should have written to them before
(02:02:39):
this and offered, and if they did, I would just
continue the factory warranty. Yes, that's the safest. I do
not like Carshields and the rest of them.
Speaker 5 (02:02:48):
Do you, No, they're not up to part with the
OE stuff, not at all.
Speaker 4 (02:02:53):
Or call a GM dealer, or call somebody at GM
and ask him. Now, I was having a conniption fit
listening to Mark about his A one C. He says
he eats really healthy for thirty days and then goes
and gets his blood work done and the A one
(02:03:15):
C looks excellent, and he wanted to know, so what
good is that?
Speaker 6 (02:03:22):
No?
Speaker 4 (02:03:22):
I know, I know what this guy's saying. He's to
make his blood work looks good. He does a I
heard him saying.
Speaker 5 (02:03:30):
Something.
Speaker 4 (02:03:31):
But that doesn't mean he's healthy.
Speaker 5 (02:03:33):
It just means.
Speaker 4 (02:03:35):
Your trick. Yeah, that's a hack, he says. Anyway, so
this doc chimed in and didn't know how long it
was that A one C goes back. A one C
is a three month rolling average. You knew that right, Doc,
Go with a sure thing Denver's best roofer Excel Roofing
(02:03:56):
dot com. You don't pay a cent until you're content.
Time for an insurance check up free, no obligation. In comparison,
call Compass Insurance paying too much your coverage at dozens
of insurance companies find out now three all three seven
seven to one help. You'll think you're his only customer
when you choose Frank durand the real estate Man dot
(02:04:17):
com to list your home with Remax Alliance three all
three nine two zero sixteen twenty two. Hi Tom Martino,
your trouble shooter three all three seven one three talks
(02:04:38):
seven one three A two five five listen. I wanted
to uh tell you that I've had a number of
people that we are getting to and I apologize if
we have an on Wave eight Wealth Management and I
certainly appreciate your trust. And we have found numerous cases
(02:04:59):
where people have been being overcharged and inappropriate investments and
they thought they were doing wonderful look at I don't
want to be a debbie down or if you have
a great way of doing things, will tell you. I
promise you that's not what this is about. I want
you to be doing well. There are some people we've
told they're doing great, and some people don't need any
(02:05:21):
help whatsoever, and they can do things they were doing
on their own, by the way, totally on their own, anyway.
So if you want help, if you want us to
go over it. I've met with people personally and we've
gone over their results and they've been very, very happy
(02:05:42):
with what we've told them. Here's the point, and I
took some notes on some of the stuff. I'm finding
a lot of people are building equity, but they're not
planning for cash flow in retirement. Equity'll do you no
good as you grow toward retirement. You have to start
(02:06:05):
thinking of equity as transferring to income or retirement. And
that doesn't always mean an annuity, by the way, there
are many many ways to do that. But it's like anything.
I mean, an exaggerated example would be artwork, for example. Okay,
that's equity, meaning it grows and it's valuable, but it
does nothing for you as you get older. If it's
(02:06:26):
not income unless you want to leave it, that's different.
But this is what's really important. It's the conversion from
equity to cash flow. And then when you're younger or
middle aged and you have cash flow but you're not
converting it to equity, that's another mistake because cash flow
can be spent or just saved and you end up
(02:06:49):
losing it, or it deteriorates or inflation eats it up.
But if you take some of that cash flow and
move it into equity and then let that sit, that'll grow.
So there's two ways that you gain net value, but
only one way to achieve wealth, and that's in the
(02:07:12):
knowledge of when to transfer back and forth from equity
to cash flow. Okay, that's really the importance. That's the
biggest mistakes people make. They're either top heavy in cash
flow with no equity or top heavy inequity with no
cash flow, or they don't know when to go back
(02:07:33):
and forth. And I want to say one thing about
real estate investment. Real estate is great, but here's something
you need to know about real estate. And this is
why Barry over at Vestera Turnkey, if you listen to
his program, he very seldom keeps his people in the
rentals more than three years. Very seldom he moves them in.
(02:07:57):
He moves them out. Sometimes they ten thirty one into
new ones. Sometimes they just sell and take the money.
Why does he do that? Well, this is something you
need to know about real estate. If you're investing to
become a landlord, you get depreciation and you get right
off for expenses, and then you get income for rent.
(02:08:19):
The object is to get rental income, which is offset
by depreciation to OxT extent. So the depreciation is an
invisible expense, right, So that's good for you. Now what
you have then is equity as well. So now you
have depreciation, it helps in taxes, you have rent which
(02:08:41):
helps with income, and then you have equity which helps
later on to sell. It's all wonderful, but here's the mistake.
A lot of people make whore landlords. They get into
it for too long. So as you get into your
sixties or later and you have all this equity the
(02:09:01):
assets getting older. When you have equity growing and assets
getting older, you have the risk of an event, a
major event, a big giant HVAC system or roof or
just anything. I'm not saying it always happens, but no
(02:09:24):
matter what, there will always be something. Because it is
not monolithic and permanent. It is a deteriorating asset and
you have to keep up on it. So as you
get older. While you love that income and you love
that equity, you should harvest that equity and then convert
(02:09:47):
it to a safer form of income so you still
get the income you love from real estate without having
to go over and paint or change bulbs or have
a management company. You could take the equity now and
put it into municipal bonds or even a fixed indextinuity
or other investments where the income is still there but
(02:10:08):
the deterioration and depreciation is long behind you. So again conversion.
The mistake people make sometimes is not the accumulation, it's
the conversion and knowing when to convert. I love talking
about this stuff because I see it every day. And
(02:10:30):
here's the problem. I think a lot of people if things,
if they haven't addressed them in a while, they start saying,
you know what, I don't want to think about it.
It's just something you keep putting off. I know I
do that sometimes that I don't get to my financial
statements or my when you balance your accounts or your
quick books. The longer you stay away, the harder to
(02:10:53):
get back. But then once you do it, you feel
so good? Right anyway? Our number three oh three seven
won three talk seven one three eight two five or
three oh three Martino three oh three six two seven
eight four sixty six. By the way, you can also
if you want to get a hold of Wave eight
Wealth Management for a free consultation. You want to talk
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seven to one help three oh three seven seven one
(02:11:16):
four three five seven. You can text or call and
leave a message three oh three seven seven one help.
The website is Waveeightcapital dot com, the number eight and
uh two interesting items. This guy said from the United
Healthcare This is a text United Healthcare murder. Oh do
I have to take this break? Okay? Real kick? His
family is very rich and if he had some claim
(02:11:40):
denied for surgery, his family could have paid for it.
And he apparently had oh oh oh oh, I'm sorry
they're talking about not the CEO, the suspect. He is
rich from a rich family, so therefore, even if he
was turned down, they could have paid for it. And
the second one, he wasn't even a customer.
Speaker 10 (02:12:00):
Right that. That's the weird part of it, don't you think, Tom.
Speaker 4 (02:12:02):
Yeah, maybe he had a friend going through something. Maybe
they came to him saying, Hey, I know you have
back problems. I have back problems. What did you do
my insurance company? Who knows We're gonna find out? Go
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(02:12:25):
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three nine two zero sixteen twenty two. Hi Tom Martine
(02:12:53):
here three all three seven one three talk three oh
three seven one three eight two five If Kevin Coggin,
what are we going to do in the car business now?
As far as the coming days, are things the same
getting better? Anything? People should watch out for buying a car,
servicing cars, use cars? What are you seeing? Let's just
talk about that.
Speaker 5 (02:13:13):
These cars are hard to find and they're expensive, so
get them pre checked.
Speaker 4 (02:13:17):
Yes, sure, a ton.
Speaker 5 (02:13:18):
Of pre checks, and probably half of the cars don't pass.
Speaker 4 (02:13:22):
Wow seriously, or at least they know what they're facing. Yes,
because when you PreCheck, you can say, hey, this car
is going to need this, this and this, and this
is what it will cost exactly. So then you take
that cost and you compare it to the purchase price.
Speaker 5 (02:13:38):
And you can either renegotiate price or just get a
different car in better shape or whatever. But yeah, please please.
Speaker 4 (02:13:43):
You said about half of the cars end up being
one they failed.
Speaker 5 (02:13:47):
I mean they need more than two thousand dollars in repairs.
Speaker 4 (02:13:50):
And what level of car are you checking for?
Speaker 5 (02:13:53):
People?
Speaker 4 (02:13:53):
What price ranges?
Speaker 5 (02:13:54):
Probably between ten and twenty most of them.
Speaker 4 (02:13:57):
Okay, yeah, but it at the prices you charge, you
should even get a car checked. If you're paying five
or six grand, Oh.
Speaker 5 (02:14:05):
Absolutely, for one hundred and fifty bucks, yeah yeah, why not?
Speaker 4 (02:14:08):
Come on, man, that is unbelievable. And you what you
do is you find out the condition of a car.
And as far as the uh uh tires, I wanted
to ask you something. If you have a choice of
all weather or snow tires in Colorado, I'm almost leaning
toward all weather because snow tires. What if you put
(02:14:31):
them on in the last show storm this dry.
Speaker 5 (02:14:35):
Page unless you somebody goes to the mountains a lot, okay,
because the differs with snow tires is the ice that
you get blizz acts and things they grip like studded
snows to do without studs.
Speaker 4 (02:14:45):
So but let me ask you this, just how bad
is regular pavement on snows Kenny?
Speaker 5 (02:14:50):
It's just yeah, you get twenty five thousand miles on
a set of snow tires, were you know, fifty sixty
on a set all season mile or twice?
Speaker 4 (02:14:59):
But you have so you always have trade off.
Speaker 5 (02:15:02):
Yes, they're softer, that's why they griped the out.
Speaker 4 (02:15:04):
Do you change snow tires too all the time? When
do you put them on?
Speaker 5 (02:15:09):
Uh? Anymore? People aren't putting them on because.
Speaker 4 (02:15:12):
I know, I know that's anyway. I'm Tom Martino. Don't
forget referral lists dot com and of course Wave eight
Capital three oh three seven seven one help and then
you can call three oh three Martino around the clock
for help, information and referrals and save all your problems
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