All Forum Posts by: Rich Weese

Guy- I agree with you 100%. No one will ever take better care of your money than you. I don't think I have lost any sleep over the $48,000 that I appear to have lost in trying to buy into the accelerated depreciation program that was available in the Biloxi area. It has been so long ago I can't even remember what the program was called, but it was put together by the government to help speed up the rebuilding of that area after the devastating hurricane hit it.

Michael-I'm not sure what to make of your e-mail about Scott and I appearing on American greed. I certainly didn't make the investment in that area to make money. I seriously may be investment to provide housing that was necessary at that time and the significant accelerated depreciation that was available for building their at that time. I really didn't care if I made any money or not. I have substantial income coming in from various other real estate ventures and I was simply trying to offset it with advanced depreciation.

I have chosen a new way to do that since 2008. I buy relatively good-sized apartment buildings and then pay for a cost segmentation study which allows tremendous depreciation in the early years. Then, when that advanced benefit is used up, I look to exchange the building by method of 1031 and continue staying ahead of the game. This will normally cover the majority of the income made from the apartments in cash flow and also offset additional income made from building spec houses in Texas and Florida.

Lew- I really don't know what you were attempting to say either. I have been extremely open on this venue for many years. One of the reasons I don't post very often anymore, is the nit picking and the need by many posters to attack messengers as well as the messages that appear on bigger pockets. I realized that can happen anywhere but for me it is the main reason I don't post very often. I do try and follow-up with replies to threads that I have been involved in in the past.

Carlos- I don't know of any money that has been recovered but I do know of various class-action suits that were filed. I also invested money with a lady that was supposed to find an attorney that would file an action on our behalf. That never materialized and she represented that she knew more of what was going on than I believed was accurate. She never had the agreement with the attorney to work on our behalf at an extremely discounted rate since he had also been duped by Bill Lange.

I believe that gives my two cents worth to all the e-mails since my most recent.

On this Good Friday I want to wish everyone a happy Easter weekend and hope some thought will be given to what the true meaning of Easter is and not just a gorge out on candy. I hope all are doing well with their real estate endeavors.

Rich

hi Scott,

I think Lange was actually sentenced several weeks ago. I had several discussions with the Brooklyn district attorney's office and the people that were forming this case against Lange. I also was flown to Brooklyn for a meeting with the Dist. Atty. to add my information to the prosecutor's case. They also asked me for a victim statement which I supplied but it was not used in the sentencing.

It was pretty obvious that Lange was going to get a significant sentence after Brad Russell received 10 years. Lange was one of the better liars I have ever come in contact with and I think he lied so often that he may have even believed what he was saying somewhat. He was definitely the mastermind but had many people surrounding him that helped to perpetuate the crime.I never saw what the sentence was that the lady in the office received. She was always the one that seemed to answer the phone when I called and was definitely lying for Lange. I'm glad to see that they got everyone that had lied to me about the situation.

I believe there were two Roger Campagnolos and I met with one in an office across from the crooked title company that had helped with all this information and closings in Fort Myers. I believe he was the same individual you are referring to and not his father. I cannot vouch for his earlier life, but I believe he was as big of a scumbag as was Mr. Lange. He was very smug and not helpful at all in trying to obtain information. May he rest in peace.

I'm glad all of them eventually received their just due.

Rich

First defendant just sentenced. Brad Russell got 10 years in prison followed by 3 years of supervised probation. Others to follow with sentencing. One down and more to come.

Rich

Hi Uwe- House designed by BP member was built and sold. The update is on here somewhere. I finished building in Utah and moved to Florida. Building homes on spec and first one closes tomorrow. Hope all is going great for 2015.

Rich

Same to you, Uwe and Merriest of Christmases. I'm not sure who is on here less. You or me. Have a safe 2015.

Rich Weese

Minh Le,

Thanks for the publicity. You must use something like Dragon speak (as do I). Every once in awhile, I forget to check it before sending. Allow me to correct the name of my Book:

From JANITOR to Multimillionaire.

Thanks Minh.

Rich

Thanks Karen.

Rich

Karen,

Where is this new forum you speak of?

hi Karen,

I'm not really aware of any of the new forms. I just don't spend much time on bigger pockets anymore. I do try to reply when I mentioned in a forum thread and I certainly still reply to e-mails I receive. I will try to find investor deal diaries and take a look at it. Merry Christmas to you and your family.

Rich