Has anyone invested with ATW Investments?

30 Replies

Hi,

I am considering buying a property through ATW Investments in San Antonio Texas.  They are like turnkey operators.  They help you find a deal, then help you rehab it, and then sell it to a homebuyer and you hold the note.  Their strategy is that since you're selling the home to a homeowner versus renting it to a tenant then there will be less headaches.

I was wondering what other people's experiences has been working with them.

Thanks,
Dean

this created one of the longest threads on all of BP

maybe some of the folks here who know how to link a post in so you can read them all can do so   I personally cannot.

this model is fraught with regulatory oversight.  not to mention I have been a party to at least 100 of these type of deals  as the owner principal and I can tell you NO one ever buys the house.. I had exactly two buy the house I used this pre dod frank when it was legal and it is just glorified rental contracts nothing more nothing less.. that is my opinion

I'd like to re-invite discussions on this thread.  Any recent knowledge of ATW-Investments in San Antonio/

Also, would like to get a few references for an Attorney there.  I've moved out of state so don't have local information any longer.

Thanks in advance

@Dean Suzuki I just replied to @Rodney Getsy on a separate thread.

I have been in SA for several years now and while I have never worked with ATW I can say I have never heard anything good about them.

I have worked with several of the buyers of those homes that you would hold the note on because they were being foreclosed on by ATW. The terms of the loans for the condition of the homes were pretty sub par even for owner finance properties.

Seemed it was very easy for just any buyer to be placed into one of the homes because the down payments were very low, the interest rate was way up there, and the value of the note was about 115% of value

Hi,

I purchased 3 investment properties from ATW.  Overall, I have had challenges on my investments with them.    If you want to message me directly, we can discuss.

Thanks

Dean

We "sold" our home to ATW (Brian Payton) mortgage was left in our name and property was converted to a land trust. The investor that was supposed to be paying the mortgage got so far behind on payments that the house is now in pre foreclosure to our shock. I know his former business operations manager who is also suing him. We need a real estate attorney with sharp teeth.

I'm in the exact same situation.  I'm going to start to contact some local (SA) attorneys.   Any suggestions and would like to keep this thread open and hear how your situation is going.

Originally posted by @Kelly White :

We "sold" our home to ATW (Brian Payton) mortgage was left in our name and property was converted to a land trust. The investor that was supposed to be paying the mortgage got so far behind on payments that the house is now in pre foreclosure to our shock. I know his former business operations manager who is also suing him. We need a real estate attorney with sharp teeth.

 Was that so called "subject to" sale? When the buyer get the house and obligated to pay your mortgage?

Was bank informed n that kind of deal? Or now you're being foreclosed because the buyer is behind on your mortgage payments?

Hi,

Does anyone have an attorney referral in San Antonio?  

I haven't received my August and September payments from ATW.  I am not sure why it takes so long to process the mortgage/rent payments and disburse them.  They also have charged me for my expenses that happened over 6-8 months ago.  

Is anyone else experiencing this?

Does anyone know if there is a statue of limitations on how far back a vendor can charge you for expenses on a property?

Thanks

Dean the money's held by ATW were not passed on to trinity and I emailed Brian Payton to ask him to transfer to my account as usual and he claimed ATW owes nothing to me which came as a shock as they even on their records were holding near $4000 rent. I know Kenneth grubb San Antonio lawyer sued him on behalf of other investors but stealing monies held in trust is the latest game. I assume he,s walked off with everyone's money. Everyone needs to act quickly and get Brian Payton and ATW off their trusts and companies. 

If anyone invested in a Corpus Christi property on Meadowlane Dr. and is wondering if it is being kept up, just send me a request and I will be glad to send photos.  

Hi All. I have encounters with many of ATW/Trinidad's "Investors" over the period of the last month. All these investors were in Australia. All have had issues with the company. I have successfully helped 2 get out from their home and in the process of helping another 3. I was given their info from their financial planer there. When I got to the properties;

1. Was completely ransacked with feet of debris inside, windows broken and boarded up and over $5000 in liens on the home. The property taxes hadn't been paid since purchase from the investor. There had been squatters living in it for over 6 months. "Property Management" 

2. Same investor. Had another property that was going into foreclosure. Had to get a Deed in Lieu of Foreclosure signed and notarized by the occupant so they wouldn't tear up the property before listing. The "re-hab" was so bad that the tiles were cracking and the foundation was slipping. This had only been about 16 months. The taxes here hadn't been paid either.

3. Different investor. Home had been vacant since the property was re-habed 20 months and was not managed. All services to this home were disconnected and either the HVAC, Water Heater and the kitchen had been stolen, or they were never installed. The work done on the property was not equal to the amount the investor paid. 

4. Different investor. Home has been vacant since the buyer defaulted on payments and they had to take it back. Home was in decent shape, but you can tell that the amount of money the investor spent did not equal the amount done to the home. Has been vacant for over 12 months.  

5. Different investor. Home has been vacant since the buyer defaulted on payments and they had to take it back. Haven't been able to get out and see it yet, but I am expecting the same. 

I had a call today with Zeke. He asked for me to list all the vacant properties that came over from ATW. I declined and told him I would hep with the back-end, directly with the investors. He called any that were not with him , disgruntled.

I am here to help if you need.

I Truly hope this will help...


Brian E. Betts

Keller Williams City-View


@Brian E Betts   nice of you to step in.. the aussie investors got hammered I wrote an e book for aussie investors which outlines what they need to watch out for .. as I was posting on the property investor forum in AU ( AU version of BP) and it was evident to me that US promoters were simply ripping these nice people off..

some of the AU investors though need to be held accountable they went for pie in the sky returns and did not calculate risk.. lots of money lost that's for sure and in more places than just your area.

the buy rehab and sell sub prime owner occ is a very big thing in that area of the country and fraught with fraud and crumbled deals.

Brian,I bought a property in 200 Nicholas Uvalde in Sept 2015 for over$58k US.Have made zero return & had no corespondance of late.Dont know the state of the property as no management or oversight has been performed.Ive contacted Zeke to get the title deeds which he says he has.I just want to sell the property and get my money back.If you can help in this regard . Thanks Hopefully John Micheletti

Apparently, my "loan" (seller financed) to Atw is now being serviced by trinadad mortgage services, located in SA.  they are now almost 3 months behind.  they are calling 'loss mitigation section'.  not certain how to respond but if the checks start up again suppose it will be a positive move.   anyone heard of trinadad??

i believe brian Betts might have info concerning the relationship as per his previous post.  

sorry about the type.  new keyboard not working 100%