All Forum Posts by: Patricia Gammage

Update (11-14-15): the Bureau of Real Estate (BRE) received several complaints from  investors about Asset Ventures and Tony Martinez. The BRE and the Department of Business Oversight conducted an investigation and the BRE advised that the complaints have been forwarded to the BRE's legal section for prosecution.

Also, based on a 9-10-15 email forwarded to me by an investor to whom Tony also owes money, apparently Tony has hired a lawyer to file a Chapter 11 Bankruptcy. The contact info for the lawyer is Michael R. Totaro, 310-573-0276, [email protected].

In the lawyer's email, he said to call him anytime for updated information. He also said to send your full names and emails and he will put you in the Asset Group.

Will do Bill.  Thanks much, Pat

To update you, yes I did file a complaint with several organizations and, yes, I have been able to accomplish something with the help of the Bureau of Real Estate, Mortgage Loan Activities Unit, and the State of California, Department of Business Oversight Enforcement Division.

If you'd like to discuss, please contact me.

Best regards,

Pat

Thanks Gerald - I agree and regarding the weeding out process, the sooner the better.

Asset Ventures LLC and Tony Martinez advertise themselves as a note dealer and servicer company, established with the intention of facilitating the purchase and sale of Notes for Investors. Asset Ventures and Tony Martinez advertise on real estate investment sites and make presentations at real estate investment conferences in various states.

The problem is that Asset Ventures and Tony Martinez do not pay the investors back.

Previously, I thought that, possibly, I was the only investor to whom Asset Ventures and Tony Martinez owed money. But recently, I saw complaints on the "Rip-off Reports" website where investors in Texas were experiencing the same problems with Asset Ventures and Tony Martinez (i.e., non-payment of notes and a series of untrue statements when questioned about payments due). Whatever you may think about the Rip-off Report website, what is important is that the same or similar complaints have now been posted by investors in 2 different states.

See further details in my original post at:

http://www.biggerpockets.com/forums/51/topics/1372...

I'd appreciate any suggestions that you may have regarding how to obtain payment from Asset Ventures and Tony Martinez on a note that is past due since April 30, 2013.

Please leave your comments and/or suggestions on my original/linked post shown above (rather than on this post).

Thanks in advance.

Asset Ventures LLC and Tony Martinez advertise themselves as a note dealer and servicer company, established with the intention of facilitating the purchase and sale of Notes for Investors. Asset Ventures and Tony Martinez advertise on real estate investment sites and make presentations at real estate investment conferences in various states.

The problem is that Asset Ventures and Tony Martinez do not pay the investors back.

Previously, I thought that, possibly, I was the only investor to whom Asset Ventures and Tony Martinez owed money. But recently, I saw complaints on the "Rip-off Reports" website where investors in Texas were experiencing the same problems with Asset Ventures and Tony Martinez (i.e., non-payment of notes and a series of untrue statements when questioned about payments due). Whatever you may think about the Rip-off Report website, what is important is that the same or similar complaints have now been posted by investors in 2 different states.

See further details in my original post at:

http://www.biggerpockets.com/forums/51/topics/1372...

I'd appreciate any suggestions that you may have regarding how to obtain payment from Asset Ventures and Tony Martinez on a note that is past due since April 30, 2013.

Please leave your comments and/or suggestions on my original/linked post shown above (rather than on this post).

Thanks in advance.

Asset Ventures LLC and Tony Martinez advertise themselves as a note dealer and servicer company, established with the intention of facilitating the purchase and sale of Notes for Investors. Asset Ventures and Tony Martinez advertise on real estate investment sites and make presentations at real estate investment conferences in various states.

The problem is that Asset Ventures and Tony Martinez do not pay the investors back. 

Previously, I thought that, possibly, I was the only investor to whom Asset Ventures and Tony Martinez owed money. But recently, I saw complaints on the "Rip-off Reports" website where investors in Texas were experiencing the same problems with Asset Ventures and Tony Martinez (i.e., non-payment of notes and a series of untrue statements when questioned about payments due). Whatever you may think about the Rip-off Report website, what is important is that the same or similar complaints have now been posted by investors in 2 different states. 

See further details in my original post at:

http://www.biggerpockets.com/forums/51/topics/1372...

I'd appreciate any suggestions that you may have regarding how to obtain payment from Asset Ventures and Tony Martinez on a note that is past due since April 30, 2013.

Please leave your comments and/or suggestions on my original/linked post shown above (rather than on this post).

Thanks in advance.

Ellis/Rick/Scott:  Thank you for your responses.  I'll file a complaint with the Attorney General's office and I will post in other forums.   Thank you for mentioning the press, I hadn't thought about the press.  I had thought about getting an attorney -  but as a last resort.  I hadn't thought about the momentum aspect.  So, it sounds like getting an attorney may be something I'll need to look into sooner than later.  Scott, per my email, I'll call you in the morning.

I am somewhat of a new member to BP (only 1 other post), so I truly appreciate your timely and informative responses.  Thanks again.

Need suggestions on how to get Asset Ventures LLC and Tony Martinez to pay notes that are past due.

Asset Ventures LLC and Tony Martinez advertise themselves as a note dealer and servicer company, established with the intention of facilitating the purchase and sale of Notes for Investors. Asset Ventures and Tony Martinez advertise on real estate investment sites and makes presentations at real estate investment conferences in various states.

The problem is that Asset Ventures and Tony Martinez do not pay the investors back. See the details below.

On December 31, 2012, I purchased a short term note (due April 30, 2013) from Asset Ventures/Tony Martinez. To date Tony has only re-paid a portion of the investment and, although interest continues to accrue (according to Tony and as stated in the note), no interest has been paid.

Last year, when I began to making other investors aware of the situation, Tony had someone from a law office contact me and suggest that I allow Tony to work out a payment plan-which I did. Tony made 2 or 3 payments, the payments ceased and I haven't received a payment since October 2013 - although I have over a year's worth of emails from Tony in which he stated that my investment was secure; he made one after another commitment to pay; he stated that I would receive the balance of the amount due either that week or that month or that a check had been sent (although it hadn't).

I had been thinking that possibly, I was the only investor to whom Asset Ventures and Tony Martinez owed money. But recently, I saw complaints on the "Rip-off Reports" website where investors in Texas were experiencing the same issues with Asset Ventures and Tony Martinez (i.e., non-payment of notes and a series of untrue statements when questioned about payments due). Whatever one may think about the Rip-off Report website, it is noteworthy that similar complaints have been posted by investors in 2 states (California and Texas). In fact the comment from one of the investors in Texas was: "Asset Ventures, LLC -- Tony Martinez Serious Trouble in this Business. He does not pay back loans, does not pay the interest on the loan and repeatedly lies."

So, I'd appreciate any suggestions that you may have regarding how to obtain payment from Asset Ventures and Tony Martinez on this past due note.

Thanks in advance.

Pat G.

Thanks to all who replied. Based on the comments provided and my own research, although maybe???????? it could be done working with a legal expert, I've decided not to pursue the tranactions(s). I'm not willing to assume the risk of the tranaction being deemed a prohibited transaction. Thanks much again for your input. Pat