Disappointed with Granite Strategic Investments

[Bob Malecki]

Just a heads up, we had a NPL purchase deal with Granite this month with an accepted offer. We waited over 2 weeks for Chaz to get us a missing assignment to complete our due diligence. Just yesterday I was told that "Chaz said the loan is no longer available". This is the second time that we've spend time on DD , getting an offer accepted then Granite pulling the asset/deal out from under us. 

They have become a waste of our time and just want set other folks expectations if you decide to place an offer for an asset from them.  I'm obviously having difficulty with the company's and Chaz Guinn's integrity as a note seller. Buyer beware!

Bob

[Scott Carson]

@Bob Malecki what has happened to you is a disturbing trend that Chaz and Granite are doing.  Chaz approached me at the beginning of the year to help market their assets.  We agreed to do this under one major caveat...that we were the only firm marketing the lists.  We didn't want to do all the work of marketing just to have people buy the assets through a different broker and us not get credit or paid for our time and energy.  Well, that worked for two initial trades.  Unfortunately, our investors and a chunk of our mastermind students who bid on assets and had verbal agreements that they were the approved buyers on a Friday afternoon found out on Monday that Chaz/Granite sold the asset to someone over the weekend.  

I can understand that happening once or twice, but that quickly became the norm for Granite trades.  And then the big kicker was that Chaz could not keep his word and was marketing the tapes to other brokers even after I stressed that we would not waste our time doing all the work that we do to market if he sent it out to his list or other brokers.  Well, wouldn't you know, I get two phone calls from buddies who stated that Chaz either sent them the list two days or a week before he sent it to me...basically exposing Chaz as untrustful.   Hey, if you are going to market it, go ahead and do it, just don't waste my or my staff's time.  And sure as hell don't waste people's time and money telling them that they have an accepted offering and they start paying for BPO's, O&E's, etc only to pull the rug out from underneath of them and lie to them.  That's why we've blacklisted Granite as a source and stopped doing business with them.  It's not worth our time.  Thanks for initially posting.