REM Capital - Robert Ritzenthaler - Thoughts?
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Member since 2022 · 29 posts · 19 votes
2yQuote from @Manshi M.:
Has anyone from this group invested with REM Capital? I am considering investing in one of their syndication projects in Texas. Since we have not worked with this group before, I am hoping to get some references.
I have and it has gone badly. Robert mixed funds among separate investment properties which has hurt the all of those properties. The one am in (in Atlanta) is in disrepair with many squatters. Robert has been removed from the project and Rod Khalif has been brought in as the "fixer." I hope he can salvage some of our money.
43 Replies
- 2yJoshua ChristensenPro MemberReal Estate Broker · Albuquerque, NM · Member since 2015 · 281 posts · 232 votes
Robert is a standup guy and their company is solid based on our experiences. We're in with them on a deal in Atlanta that has gone as well as can be expected. It was acquired at the end of 2022, so rates were climbing and rents in the area were starting to slow down. All in all the distributions were paid slightly lower than initially expected while the remaining is accrued. K1's were distributed with the cost segregation and 100% bonus depreciation allowed in 2022 which helped offset other taxes, so that was nice.
- Investor · Vancouver, WA · Member since 2017 · 67 posts · 18 votes2y
I'm involved in one with another group. Good returns. Let's connect.
- Bradenton, FL · Member since 2017 · 168 posts · 39 votes2y
I am in 3 different deals with REM of 300K total. I started investing with REM Capital back in Feb of 2022. As you can see below of our "hard earned capital" invested into three deals. I can tell you that from the inception dates of our wired capital into REM, we have seen a total of $12.04K back in distributions over around a two year period. As of today, all 3 deals are paused distributions. I trust Robert's expertise going forward but at this point, the proof is in the pudding. I think these properties will turn around in 2024 but this is all prefaced on interest rate cuts by the Fed, I do not like that risk!! We can blame interest rates and I understand how that has impacted MF investments. However, I did not do enough due diligence for myself understanding they only had 2 year rate caps and floating rate debt. I gave too much trust on their conservative approach and how these "great deals" penciled initially on paper. I too, got caught up with the shiny object syndrome. Now I see where they took on too much risk for their debt services.
I sincerely hope things change but if you had to ask me right now, I would accept all of my (300k) capital back if they wired it back to me tomorrow. I have other Syndicators that are doing what they say they do under this interest rate environment. Time will tell.... just wanted to pass along.
Also, is there anyone out here on BP that is invested in any of these deals? If so, Please DM me .... please!
1.) Midwest Deal- 772 Units -- (invested 100K on 2/22) Paused Distributions
2.) Liberty Crossing, NC - 440 Units -- (invested 100K on 2/22) Paused Distributions
3.) Villa Neuva, TX- 306 Units -- (invested 100K on 8/22) Paused Distributions
- Member since 2026 · 3 posts · 0 votes8mo
Hello Marty, I'm involved in the Midwest deal. 4 of 7 have been sold at a loss. The 3 remaining are doing OK but our investment is only worth about 30% currently. We can wait 3-5 MORE years and recover maybe 60-70% or our original investment. I've asked Robert to send notice all investors so we can decide. I'd rather get 30% now vs "Maybe" 60-70% in another 3-5 years.
Be happy you didn't invest in Atlanta, we lost ALL our money in that deal.
See my other post in this thread for more details.
- 2yMelanie P.Pro MemberRental Property Investor · Member since 2023 · 1k+ posts · 922 votes
You would have to be NUTS to get involved with one of these multi family investments right now. The Fed is only proposing 75 basis points in reductions next year IF everything goes according to their plan. That's not going to provide the solutions these over leveraged deals need to solve their problems.
Read the post above and use common sense. What could these guys do that you couldn't do? What do you need them for? Buy a dividend stock. At least then you're not tied to one asset.
- 2yV.G JasonPro MemberInvestor · Member since 2022 · 3k+ posts · 3k+ votes
Quote from @Melanie P.:
You would have to be NUTS to get involved with one of these multi family investments right now. The Fed is only proposing 75 basis points in reductions next year IF everything goes according to their plan. That's not going to provide the solutions these over leveraged deals need to solve their problems.
Read the post above and use common sense. What could these guys do that you couldn't do? What do you need them for? Buy a dividend stock. At least then you're not tied to one asset.
It's cause people push where the simplest dollar in front of them shows. Before I started getting into REI(just post-covid), I was told syndications, syndications, syndications. Everyone told me with so much to do on the day, best thing to do is get a high quality group to invest in and sit back. So I did, 1 is okay & the other flopped and is flopping. Looking up the flopper, I came across this site so I guess it's a blessing in disguise.
I think if you made it here, you're far enough in REI to know what to weed out and that's likely syndications(for now). If rate cuts come severe, and we continue to see CRE price below a 15-20 year level then doing diligence on a manager of the syndication may actually be the best deal on the market. That's still months away though.
Physical REI is not a paper investment; almost anyone whose invested on paper numbers I am willing to bet is showing a lot less than the reality of if it unless they took realized gains by selling(into the appreciation rate) or cashed out refi.
Everyone's form of investing this last decade plus is strategically wrong for the upcoming years. You have to adapt to the new era of higher cost of capital, lower supply, population changes, natural disasters, etc.
- Bradenton, FL · Member since 2017 · 168 posts · 39 votes2y
Quote from @Melanie P.:
You would have to be NUTS to get involved with one of these multi family investments right now. The Fed is only proposing 75 basis points in reductions next year IF everything goes according to their plan. That's not going to provide the solutions these over leveraged deals need to solve their problems.
Read the post above and use common sense. What could these guys do that you couldn't do? What do you need them for? Buy a dividend stock. At least then you're not tied to one asset.
- Bradenton, FL · Member since 2017 · 168 posts · 39 votes2y
I am invested into syndications and do this full-time. The reason? It's because to your point, I use to be the operator of my own rental real estate. There is too much work and a better way to scale with multi-family. When you do private equity with a General Partner, there are so many thing you can do in a syndication that you cannot do alone. Too many good reasons to list here.
I posted my story as to see who has invested with REM and let folks know what is going on if they are looking to invest.. I did not ask for your unsolicited advice on how to invest into syndications.
How many syndications have you invested with and give me your story so that we can have a constructed conversation here.
- Bradenton, FL · Member since 2017 · 168 posts · 39 votes2y
Quote from @V.G Jason:
Quote from @Melanie P.:
You would have to be NUTS to get involved with one of these multi family investments right now. The Fed is only proposing 75 basis points in reductions next year IF everything goes according to their plan. That's not going to provide the solutions these over leveraged deals need to solve their problems.
Read the post above and use common sense. What could these guys do that you couldn't do? What do you need them for? Buy a dividend stock. At least then you're not tied to one asset.
It's cause people push where the simplest dollar in front of them shows. Before I started getting into REI(just post-covid), I was told syndications, syndications, syndications. Everyone told me with so much to do on the day, best thing to do is get a high quality group to invest in and sit back. So I did, 1 is okay & the other flopped and is flopping. Looking up the flopper, I came across this site so I guess it's a blessing in disguise.
I think if you made it here, you're far enough in REI to know what to weed out and that's likely syndications(for now). If rate cuts come severe, and we continue to see CRE price below a 15-20 year level then doing diligence on a manager of the syndication may actually be the best deal on the market. That's still months away though.
Physical REI is not a paper investment; almost anyone whose invested on paper numbers I am willing to bet is showing a lot less than the reality of if it unless they took realized gains by selling(into the appreciation rate) or cashed out refi.
Everyone's form of investing this last decade plus is strategically wrong for the upcoming years. You have to adapt to the new era of higher cost of capital, lower supply, population changes, natural disasters, etc.
- Bradenton, FL · Member since 2017 · 168 posts · 39 votes2y
What is the name of the Operator who flopped? I want to understand and avoid them in the future.
- Member since 2022 · 29 posts · 19 votes2y
Quote from @Manshi M.:
Has anyone from this group invested with REM Capital? I am considering investing in one of their syndication projects in Texas. Since we have not worked with this group before, I am hoping to get some references.
I have and it has gone badly. Robert mixed funds among separate investment properties which has hurt the all of those properties. The one am in (in Atlanta) is in disrepair with many squatters. Robert has been removed from the project and Rod Khalif has been brought in as the "fixer." I hope he can salvage some of our money.
- Member since 2026 · 3 posts · 0 votes8mo
I've invested int two deals, I'm losing almost all my money, the properties are underwater and being forced to sell, so nothing left for the investors. John, I'm also in one of the Atlanta deals. Currently the investors have lost ALL their money in that deal. The property is $19M under water and the bank if forcing a sale. Purchased for $56M, $49M debt, it's worth somewhere in the $30 millions range. Unless a friendly buyer throws us a bone and gives us some pity our money is gone. I'm also in the Midwest deal, 4 of 7 were sold at a loss. The remaining are doing ok so we'll be able to get back maybe 20-30% of our original contribution. So after 5 years I'll have 30% of my money in Midwest and $0 from Atlanta (I was the largest investor so it's ALOT). The two main issues, it was purchased at 4.15% cap rate with floating rate debt. HUGE error, rates were at historic lows so they needed to lock it in, especially since any interest rate increase puts the property at a negative rate spread between Cap and loan interest. The 2nd major blunder was trying to hold rents above market rate - even on existing tenants. So vacancy went all the way up to 55% - and they still didn't lower rents to get income coming in the door, instead they took on new debt to pay the bills. Overall these seem like VERY rookie mistakes that cost the investors lots of money. Everyone knew rates would be going up in the near future. I locked all my properties in about 1 year prior to the rate hikes so ALL my properties I manage myself are performing fortunately. Both Syndication properties with REM I've essentially lost 99% of my investment. I've heard similar stories with other syndications, they are gambling with our money. Anyone idiot could make money 5 years ago when mortage rates were bottomed out and property values were skyrocketing. They were supposed to be professionals and should have been able to function in a "normal" economic environment - all mine are performing in this environment....
- Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes2y
@Rudy Bello
Are you in different offerings than the others ?
7e investments53 Reviews - 2yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @John Jasko:
Quote from @Manshi M.:
Has anyone from this group invested with REM Capital? I am considering investing in one of their syndication projects in Texas. Since we have not worked with this group before, I am hoping to get some references.
I have and it has gone badly. Robert mixed funds among separate investment properties which has hurt the all of those properties. The one am in (in Atlanta) is in disrepair with many squatters. Robert has been removed from the project and Rod Khalif has been brought in as the "fixer." I hope he can salvage some of our money.
Deja Vu all over again for me.. not as an investor.. I was a RE broker doing acquasitions for a large syndicator in the 80s in San Francisco / Sacramento market.. and thats what brought down their billion dollar buziness taking reserve money from good projects to prop up losers.. Instead of just flushing a loser and dealing with the blow back..
- Bradenton, FL · Member since 2017 · 168 posts · 39 votes2y
@John Jasko
I am in 3 deals with REM and they are all a joke. We have been frauded and lied to on financing terms while they said they are a conservative underwriter. There are millions at stake here over their portfolio.
Not sure how they are going to mend the non-fiduciary responsibilities by the KP's. Lots going on here.
I worked hard for my capital in these deals and expect to get it back on deals that were pretty good. As an investor, I avoided the Atlanta markets. Hence the reason....but the risks I took were calculated....based on the information provided by the GP's. Now I find out they didn't tell us that debt terms changed before closing on at least 1 of the deals I know about.
If investors lose here.....the KP's will have a bigger problem. No one is skating on this one!!
- Member since 2022 · 29 posts · 19 votes2y
Yes, and I was brought in to the deal by a 3rd party money wrangler who has since washed his hands of the whole thing. That was my rookie mistake to not vet the actual sponsor better. I will never enter a deal through a recruiter again.
- Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes2y
Quote from @John Jasko:
Yes, and I was brought in to the deal by a 3rd party money wrangler who has since washed his hands of the whole thing. That was my rookie mistake to not vet the actual sponsor better. I will never enter a deal through a recruiter again.
who was the money wrangler?
7e investments53 Reviews - Member since 2022 · 29 posts · 19 votes2y
Patrick Grimes. I don’t know if Patrick was completely duped by Robert as well, but I do know that when I make inquiries, Patrick directs me straight to REM and doesn’t address the issues himself.
Patrick seems to be a very intelligent guy and, honestly, I still occasionally listen to his educational content, but I will never invest with him again. - 2yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @John Jasko:
Patrick Grimes. I don’t know if Patrick was completely duped by Robert as well, but I do know that when I make inquiries, Patrick directs me straight to REM and doesn’t address the issues himself.
Patrick seems to be a very intelligent guy and, honestly, I still occasionally listen to his educational content, but I will never invest with him again.
is he licensed series 7 so he can legally take fees or was he a principal or employee so he could legally take fees ? just curious - Member since 2022 · 29 posts · 19 votes2y
Quote from @Joshua Christensen:
Robert is a standup guy and their company is solid based on our experiences. We're in with them on a deal in Atlanta that has gone as well as can be expected. It was acquired at the end of 2022, so rates were climbing and rents in the area were starting to slow down. All in all the distributions were paid slightly lower than initially expected while the remaining is accrued. K1's were distributed with the cost segregation and 100% bonus depreciation allowed in 2022 which helped offset other taxes, so that was nice.
Are your REM investments still going well? I've encountered several folks who have been hurt by Robert's misdeeds and I was wondering if that has affected all of his deals. This would give me some perspective on whether I should have hope for a turnaround for my Atlanta REM deal
- 2yMelanie P.Pro MemberRental Property Investor · Member since 2023 · 1k+ posts · 922 votes
Quote from @Marty Summers:
I worked hard for my capital in these deals and expect to get it back on deals that were pretty good. As an investor, I avoided the Atlanta markets. Hence the reason....but the risks I took were calculated....based on the information provided by the GP's. Now I find out they didn't tell us that debt terms changed before closing on at least 1 of the deals I know about.
You gambled your investment capital on an internet investment-promoter. You cannot take information received from an investment promoter at face value and use it to "calculate" your risk in a deal. You have to take information you independently verify and determine what your risk is from that information. You said, "website looks good, but I don't like Atlanta." That's not a calculated risk. It's the laziest possible path the outcome is predictable.
- Bradenton, FL · Member since 2017 · 168 posts · 39 votes2y
@Melanie P. You are a troll and know nothing about me. I'm not even in their Atlanta deals. I've been retired for years now as a full time LP.
Grow up...I've given you my phone number just waiting for your call. You are too stupid to call me because you are a troll....not looking for solutions.
- Rental Property Investor · Havre de Grace, MD · Member since 2018 · 15 posts · 11 votes1y
Did you end up investing in the REM deal?
I'm in 3 of their deals and they are all awful. 2 in Atlanta, one in NC - Lauradale. Robert has unfortunately been extremely shady the past few years. He's lied to investors, co-mingled funds, and many other shyster things. Things were hitting the fan post covid with the eviction debacles and soaring interest rates and he went quiet and never let the investors know what was truly going on. They've had people come in to try and salvage the deals but so far nothing has panned out. We did just get word they sold half the NC deal so hoping to recover a portion of my funds in the next few months. I'm not holding my breath.
- Member since 2026 · 3 posts · 0 votes8mo
- Cincinnati, OH · Member since 2020 · 4k+ posts · 3k+ votes1y
Not sure about other markets, but REM has lost at least one property here in Cincinnati, which is currently listed for sale through Court Appointed Receiver.
Not to harp on anyone losing money, but I hope creates more informed investors versus completely burning the ideal of syndication for everyone.
- Member since 2025 · 5 posts · 3 votes1y
I am an architect in Florida, where REM Capital (Robert) signed a contract for architectural professional services in January 2024. We successfully performed our contract, with a local municipality approving our plans in May 2024. We are now in September of 2025 and REM Capital has not paid their contractual obligations, 5 figures. After 15 months of patience and good faith communication with Robert, we have turned this account over to a collection agency and will seek all legal avenues until we are paid in full. Our architectural firm is not a developer nor do not have the ability to take on "risk" like investors. We simply perform our services and expect to be paid for our work, as agreed-to. While the correspondence from REM has been professional, and somewhat hit and miss, we've received every excuse in the book, such as "my entire company ruined by a couple of bad partners", "I'm working as quickly as possible to free up cash flow", and "my other projects fell out of contract, I had planned to use those proceeds". I could go on and on with excuses over the course of 12 months. Do not do business with Robert Ritzenthaler or REM Capital. I'm sure Robert will see this message; once you pay in full, I will delete this post as well as all of my other posts on the internet stating my firsthand experience, which I have a long trail of written communication. Until then, all facts will be posted for those to make judgements for themselves regarding your company.
- 1yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @Craig NA:
I am an architect in Florida, where REM Capital (Robert) signed a contract for architectural professional services in January 2024. We successfully performed our contract, with a local municipality approving our plans in May 2024. We are now in September of 2025 and REM Capital has not paid their contractual obligations, 5 figures. After 15 months of patience and good faith communication with Robert, we have turned this account over to a collection agency and will seek all legal avenues until we are paid in full. Our architectural firm is not a developer nor do not have the ability to take on "risk" like investors. We simply perform our services and expect to be paid for our work, as agreed-to. While the correspondence from REM has been professional, and somewhat hit and miss, we've received every excuse in the book, such as "my entire company ruined by a couple of bad partners", "I'm working as quickly as possible to free up cash flow", and "my other projects fell out of contract, I had planned to use those proceeds". I could go on and on with excuses over the course of 12 months. Do not do business with Robert Ritzenthaler or REM Capital. I'm sure Robert will see this message; once you pay in full, I will delete this post as well as all of my other posts on the internet stating my firsthand experience, which I have a long trail of written communication. Until then, all facts will be posted for those to make judgements for themselves regarding your company.
of course you did not deliver your work/ plans without being paid right ?? - Member since 2025 · 5 posts · 3 votes1y
Quote from @Jay Hinrichs:
Quote from @Craig NA:
I am an architect in Florida, where REM Capital (Robert) signed a contract for architectural professional services in January 2024. We successfully performed our contract, with a local municipality approving our plans in May 2024. We are now in September of 2025 and REM Capital has not paid their contractual obligations, 5 figures. After 15 months of patience and good faith communication with Robert, we have turned this account over to a collection agency and will seek all legal avenues until we are paid in full. Our architectural firm is not a developer nor do not have the ability to take on "risk" like investors. We simply perform our services and expect to be paid for our work, as agreed-to. While the correspondence from REM has been professional, and somewhat hit and miss, we've received every excuse in the book, such as "my entire company ruined by a couple of bad partners", "I'm working as quickly as possible to free up cash flow", and "my other projects fell out of contract, I had planned to use those proceeds". I could go on and on with excuses over the course of 12 months. Do not do business with Robert Ritzenthaler or REM Capital. I'm sure Robert will see this message; once you pay in full, I will delete this post as well as all of my other posts on the internet stating my firsthand experience, which I have a long trail of written communication. Until then, all facts will be posted for those to make judgements for themselves regarding your company.
of course you did not deliver your work/ plans without being paid right ??We received a small initial payment (retainer), and a signed contract from REM. We are a smaller architectural firm and do our best to not hold plans "hostage", as we like to establish relationships with developers and clients, and a level of trust between all parties. I had no reason to think REM would not pay. For over 12 years of my career I was previously at a top 500 ENR firm and we did not require payment prior to the release of plans. Do some engineering and architectural firms require payment prior to the release of plans? Sure. However, we try to separate ourselves from other firms, provide excellent client service, and provide accounting flexibility to the greatest extent possible to help contribute to the success of the project.
- Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes1y
Quote from @Craig NA:
I am an architect in Florida, where REM Capital (Robert) signed a contract for architectural professional services in January 2024. We successfully performed our contract, with a local municipality approving our plans in May 2024. We are now in September of 2025 and REM Capital has not paid their contractual obligations, 5 figures. After 15 months of patience and good faith communication with Robert, we have turned this account over to a collection agency and will seek all legal avenues until we are paid in full. Our architectural firm is not a developer nor do not have the ability to take on "risk" like investors. We simply perform our services and expect to be paid for our work, as agreed-to. While the correspondence from REM has been professional, and somewhat hit and miss, we've received every excuse in the book, such as "my entire company ruined by a couple of bad partners", "I'm working as quickly as possible to free up cash flow", and "my other projects fell out of contract, I had planned to use those proceeds". I could go on and on with excuses over the course of 12 months. Do not do business with Robert Ritzenthaler or REM Capital. I'm sure Robert will see this message; once you pay in full, I will delete this post as well as all of my other posts on the internet stating my firsthand experience, which I have a long trail of written communication. Until then, all facts will be posted for those to make judgements for themselves regarding your company.
did you file liens on the properties?
7e investments53 Reviews - 1yJared W SmithBusiness MemberArchitect · Westchester County, NY · Member since 2018 · 682 posts · 476 votes
Quote from @Craig NA:
Quote from @Jay Hinrichs:
Quote from @Craig NA:
I am an architect in Florida, where REM Capital (Robert) signed a contract for architectural professional services in January 2024. We successfully performed our contract, with a local municipality approving our plans in May 2024. We are now in September of 2025 and REM Capital has not paid their contractual obligations, 5 figures. After 15 months of patience and good faith communication with Robert, we have turned this account over to a collection agency and will seek all legal avenues until we are paid in full. Our architectural firm is not a developer nor do not have the ability to take on "risk" like investors. We simply perform our services and expect to be paid for our work, as agreed-to. While the correspondence from REM has been professional, and somewhat hit and miss, we've received every excuse in the book, such as "my entire company ruined by a couple of bad partners", "I'm working as quickly as possible to free up cash flow", and "my other projects fell out of contract, I had planned to use those proceeds". I could go on and on with excuses over the course of 12 months. Do not do business with Robert Ritzenthaler or REM Capital. I'm sure Robert will see this message; once you pay in full, I will delete this post as well as all of my other posts on the internet stating my firsthand experience, which I have a long trail of written communication. Until then, all facts will be posted for those to make judgements for themselves regarding your company.
of course you did not deliver your work/ plans without being paid right ??We received a small initial payment (retainer), and a signed contract from REM. We are a smaller architectural firm and do our best to not hold plans "hostage", as we like to establish relationships with developers and clients, and a level of trust between all parties. I had no reason to think REM would not pay. For over 12 years of my career I was previously at a top 500 ENR firm and we did not require payment prior to the release of plans. Do some engineering and architectural firms require payment prior to the release of plans? Sure. However, we try to separate ourselves from other firms, provide excellent client service, and provide accounting flexibility to the greatest extent possible to help contribute to the success of the project.
Wrong call. Been running a small firm for 10+ years now. Giving completed plans to the client before payment is NOT one of the ways I am differentiating my firm from others. My contract states I am paid 100% of design fees before permit filing and/or signed and sealed construction documents are released to any party. No exceptions. The outcome of the project is not your responsibility. My payment is not predicated on how well the project goes or if it is even built. They must pay for the services they requested. Period.
Sorry to hear about your experience with REM but that's a textbook way for architects like us to be stiffed and then we have no leverage on the IP/instruments of service we create.
Architect Owl PLLC521 Reviews - Member since 2025 · 5 posts · 3 votes1yCongratulations on building a successful small firm, I am always interested in hearing success stories; I'll DM you.
Quote from @Jared W Smith:
Quote from @Craig NA:
Quote from @Jay Hinrichs:
Quote from @Craig NA:
I am an architect in Florida, where REM Capital (Robert) signed a contract for architectural professional services in January 2024. We successfully performed our contract, with a local municipality approving our plans in May 2024. We are now in September of 2025 and REM Capital has not paid their contractual obligations, 5 figures. After 15 months of patience and good faith communication with Robert, we have turned this account over to a collection agency and will seek all legal avenues until we are paid in full. Our architectural firm is not a developer nor do not have the ability to take on "risk" like investors. We simply perform our services and expect to be paid for our work, as agreed-to. While the correspondence from REM has been professional, and somewhat hit and miss, we've received every excuse in the book, such as "my entire company ruined by a couple of bad partners", "I'm working as quickly as possible to free up cash flow", and "my other projects fell out of contract, I had planned to use those proceeds". I could go on and on with excuses over the course of 12 months. Do not do business with Robert Ritzenthaler or REM Capital. I'm sure Robert will see this message; once you pay in full, I will delete this post as well as all of my other posts on the internet stating my firsthand experience, which I have a long trail of written communication. Until then, all facts will be posted for those to make judgements for themselves regarding your company.
of course you did not deliver your work/ plans without being paid right ??We received a small initial payment (retainer), and a signed contract from REM. We are a smaller architectural firm and do our best to not hold plans "hostage", as we like to establish relationships with developers and clients, and a level of trust between all parties. I had no reason to think REM would not pay. For over 12 years of my career I was previously at a top 500 ENR firm and we did not require payment prior to the release of plans. Do some engineering and architectural firms require payment prior to the release of plans? Sure. However, we try to separate ourselves from other firms, provide excellent client service, and provide accounting flexibility to the greatest extent possible to help contribute to the success of the project.
Wrong call. Been running a small firm for 10+ years now. Giving completed plans to the client before payment is NOT one of the ways I am differentiating my firm from others. My contract states I am paid 100% of design fees before permit filing and/or signed and sealed construction documents are released to any party. No exceptions. The outcome of the project is not your responsibility. My payment is not predicated on how well the project goes or if it is even built. They must pay for the services they requested. Period.
Sorry to hear about your experience with REM but that's a textbook way for architects like us to be stiffed and then we have no leverage on the IP/instruments of service we create.
I am in complete agreement with everything you said, but it is easier said than done. All of our clients are private, some of them non-profit. In my 7+ years of building my practice, with the approach I have, I have never been "stiffed". Upwards in $15m in gross revenue with no marketing. In this particular case for REM, it was a schematic package for a private developer to finalize a development agreement with a local municipality on city owned property.
Let's not take away from the focus of why I posted. REM signed a contract and did not pay, and I was simply coming on here to report my firsthand experience as the original poster requested. We are in the processing of pursing all legal action against REM. - Member since 2025 · 5 posts · 3 votes1yCity owned property, REM was to develop a project, so we do not have lien rights.
Quote from @Chris Seveney:
Quote from @Craig NA:
I am an architect in Florida, where REM Capital (Robert) signed a contract for architectural professional services in January 2024. We successfully performed our contract, with a local municipality approving our plans in May 2024. We are now in September of 2025 and REM Capital has not paid their contractual obligations, 5 figures. After 15 months of patience and good faith communication with Robert, we have turned this account over to a collection agency and will seek all legal avenues until we are paid in full. Our architectural firm is not a developer nor do not have the ability to take on "risk" like investors. We simply perform our services and expect to be paid for our work, as agreed-to. While the correspondence from REM has been professional, and somewhat hit and miss, we've received every excuse in the book, such as "my entire company ruined by a couple of bad partners", "I'm working as quickly as possible to free up cash flow", and "my other projects fell out of contract, I had planned to use those proceeds". I could go on and on with excuses over the course of 12 months. Do not do business with Robert Ritzenthaler or REM Capital. I'm sure Robert will see this message; once you pay in full, I will delete this post as well as all of my other posts on the internet stating my firsthand experience, which I have a long trail of written communication. Until then, all facts will be posted for those to make judgements for themselves regarding your company.
did you file liens on the properties?
- 1yJared W SmithBusiness MemberArchitect · Westchester County, NY · Member since 2018 · 682 posts · 476 votesYes, I agree that it sheds light on REM and not abiding by their obligations.
Quote from @Craig NA:
Congratulations on building a successful small firm, I am always interested in hearing success stories; I'll DM you.Quote from @Jared W Smith:
Quote from @Craig NA:
Quote from @Jay Hinrichs:
Quote from @Craig NA:
I am an architect in Florida, where REM Capital (Robert) signed a contract for architectural professional services in January 2024. We successfully performed our contract, with a local municipality approving our plans in May 2024. We are now in September of 2025 and REM Capital has not paid their contractual obligations, 5 figures. After 15 months of patience and good faith communication with Robert, we have turned this account over to a collection agency and will seek all legal avenues until we are paid in full. Our architectural firm is not a developer nor do not have the ability to take on "risk" like investors. We simply perform our services and expect to be paid for our work, as agreed-to. While the correspondence from REM has been professional, and somewhat hit and miss, we've received every excuse in the book, such as "my entire company ruined by a couple of bad partners", "I'm working as quickly as possible to free up cash flow", and "my other projects fell out of contract, I had planned to use those proceeds". I could go on and on with excuses over the course of 12 months. Do not do business with Robert Ritzenthaler or REM Capital. I'm sure Robert will see this message; once you pay in full, I will delete this post as well as all of my other posts on the internet stating my firsthand experience, which I have a long trail of written communication. Until then, all facts will be posted for those to make judgements for themselves regarding your company.
of course you did not deliver your work/ plans without being paid right ??We received a small initial payment (retainer), and a signed contract from REM. We are a smaller architectural firm and do our best to not hold plans "hostage", as we like to establish relationships with developers and clients, and a level of trust between all parties. I had no reason to think REM would not pay. For over 12 years of my career I was previously at a top 500 ENR firm and we did not require payment prior to the release of plans. Do some engineering and architectural firms require payment prior to the release of plans? Sure. However, we try to separate ourselves from other firms, provide excellent client service, and provide accounting flexibility to the greatest extent possible to help contribute to the success of the project.
Wrong call. Been running a small firm for 10+ years now. Giving completed plans to the client before payment is NOT one of the ways I am differentiating my firm from others. My contract states I am paid 100% of design fees before permit filing and/or signed and sealed construction documents are released to any party. No exceptions. The outcome of the project is not your responsibility. My payment is not predicated on how well the project goes or if it is even built. They must pay for the services they requested. Period.
Sorry to hear about your experience with REM but that's a textbook way for architects like us to be stiffed and then we have no leverage on the IP/instruments of service we create.
I am in complete agreement with everything you said, but it is easier said than done. All of our clients are private, some of them non-profit. In my 7+ years of building my practice, with the approach I have, I have never been "stiffed". Upwards in $15m in gross revenue with no marketing. In this particular case for REM, it was a schematic package for a private developer to finalize a development agreement with a local municipality on city owned property.
Let's not take away from the focus of why I posted. REM signed a contract and did not pay, and I was simply coming on here to report my firsthand experience as the original poster requested. We are in the processing of pursing all legal action against REM.
I am just very outspoken for any and all architects to stand up for their rights and best practices to help our industry. Unless I have equity, and even still it’s dependent, I do not front load work before fees. I know it’s tough to implement for sure. All the bestArchitect Owl PLLC521 Reviews
- Member since 2026 · 1 post · 0 votes6mo
My first deal was to a property in Dayton when Rod Khleif was involved early on. I know and trust Rod and that's why I went into the deal.
At first things went well and we got distributions.
Later, K-1s were always late, forcing me to file taxes in October. Then we got a notice that Robert mixed funds between deals and took money from Dayton. Robert committed to repaying what he misappropriated. The distributions stopped and Rod's role to fix things ended. We also learned there was some sort of shenanigans where the legal documents on the company structure we unilaterally modified by Robert (I didn't recall all the details). My understanding is that move had something to do with why Rod was no longer involved, and it was after Rod want involved that things started going sour.
Then Robert became unresponsive to investor requests. Finally we learned there was a buyer and deadlines kept going by. The investors were considering law suits and finally last fall the property sold. I received a check but no financial information. It's been 6 months and no K-1 or final accounting info. We (investors) have been sending emails to Robert but he isn't responding, just like what happened previously.
If you haven't already learned of the law suit against REM Capital Management by Cincinnati, search for that. I saw where Robert claimed he had deposited funds for a SLC management company to handle things like paying for the trash, and when the city came after him he blamed the management company. The management company response said they tried to contact him to get money to pay bills and he didn't respond. Based on my experience, I believe the management company.
My advice is to stay way clear of anything Robert is associated with.
- Investor · Hendersonville, NC · Member since 2013 · 754 posts · 281 votes5mo
That is too bad, Rod really has the knowledge in that noggin of his that adds up to about three average/seasoned real estate investors.
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