All Forum Posts by: Scott Allan

For those of you keeping up on news, Campagnolo plead guilty but the charges were totally unrelated to what we are all interested in.

Sorry I've been MIA. I just thought that I shared my 2 cents and would let the authorities handle it.

Gilad,
Not sure who you are and not sure how you know me, but you seem to not have any of your facts straight. I will not even dignify and go into detail about defending myself about "company involvement". Be careful what you say, is all I am saying.

For the few that DO know me know that I have a business in NJ. I am a NJ native and only moved to FL in 2002. Been in real estate since 2003 in NJ. That is why I am in "several states". I have a home in FL and NJ and a business in both. Something wrong with living in different area codes once in a while? Gilad, nice meeting you :-)

Eric,
I really don't have any clue who Integrity Title is. Were they based out of Ft. Myers or Cape Coral Florida? I've been to Roger's office at the very beginning of this. He did share an office with JPO.

Carlos,
No update on anything at this point. I can tell you it is still being worked on. I am assuming that its a longer list of logistics than anticipated. We'll see what happens.

Guys,
I know frustrations are up and people will be getting cranky. Let's all remember here that we need to work collectively to bring these bastards down. A few updates:

Roger Campagnolo was indicted on 1 count of mortgage fraud yesterday. It was totally unrelated to what the subject of our matter is. I heard about the indictments early yesterday morning. The others involved I don't know them and couldn't care less. Could we see good out of this?? Roger being arrested...does this mean IF he knows something about Lange & Co that he will sing? Hope so. Either way, its all karma.

Regarding Global Community Steve, I haven't seen such arrogance and ignorance like that from someone who has so many investors in a deal. To hang up the phone is maybe acceptable after being cussed at but just to hang up at first sign of "investor" portrays "guilty" tattooed on her forehead..

Danny Silver and his crew at Property Direct doesn't surprise me that they closed. I heard he recently started talking trash about me. Funny since I don't even know him and vice versa. From what I hear though, he challenged me to a fist fight, siting his military experience as a "keyboard toughguy" thing. (I'm only 30 and pretty in shape at 210 pounds..I don't think he wants any of this)...sorry, thought I'd bring a little humor!

Per the phone call yesterday, I was NOT on the call and was NOT invited. There are some people involved on that call that I have some very big differences with, which I will not elaborate on and perhaps I was left off intentionally.

My commitment remains with the US Attorney's Office. I don't have an exciting update for you because of the obvious reason... My e-mail address does not end in .gov which means I do not work for them and do not have access to classified stuff.

Know this: I am still highly involved and extremely motivated to see this to the end. I will not give this up until Lange is gone. I want this guy locked up more than I want my beloved Chicago Bears to win every Sunday and that is saying a lot...Just ask my wife. The USAO does not update me daily, nor weekly. I provide them what they want when they ask for it, PERIOD.

In conclusion, lets all keep our eyes on the prize.. We all know what that is. In the meantime, try to be productive in other aspects and don't let this affect your daily routine of conducting good business. If anyone needs me, you know where to find me. Have a great weekend!

Sorry I have been MIA from this board in a while. If there are some people looking to get in touch with me, please send me an e-mail or PM. I have literally hundreds of investors calling me now because of this thread. I don't mind at all because there is strength in numbers and I believe if we work together, justice will be served.

Mr. Tumbarello: Interesting that you mention Ellen Petrecco. That last name has come up quite a few times. Any relation to Jeff Petrecco?

Seems like affiliates of Lange are beginning to pitch alternative financing already. I was shocked. They must have HUGE ba!!s. Anyway, once again, if anyone needs to contact me please PM me. I will get your information to the proper authority at the U.S Attorney's Office where they are handling this investigation.

Carlos, I hope you are now satisfied that you have been contacted by the DOJ.

The thing about a double close is if Jared does not have the cash to close, it is impossible. Some banks, depending on your rapport with them will allow you to assign without releasing you from liability. I've done it this way maybe 15% of the time, not much.

There are resources out there that will help you with a double close but your end buyer will need to close within 24 hours. These companies often charge 2%, which isn't bad. Still gives you a decent spread for fascilitating.

Hey Rich...I agree. SW Florida has the most value out of anywhere I've seen so far. The bank I purchase my REO's through has property all over the southern U.S. and I cannot find the same value that I see in SW FL, coincidentally I happen to live here. If you have a $125,000 budget, you can get a very nice single family home that has gone to foreclosure. You can rent this type of home for $900-$1,000 a month. There are plenty of homes under 100k, but for an extra few grand, get a pool, nicer location, etc.

Beware of the condo market. If you go to MyRealtySource website in my signature I wrote a recent article on condos and why "Beware". You are safer, down here at least in single family homes which have dropped considerably in value and in my opinion have bottomed out. It is a niche market and my opinion on bottoming out pertains to our single family homes under $250k only.

I happen to know a guy :-) that can help you get a nice single family home in SW Florida. Think Lee County.

Rich, how is your stay so far. Hotter than hell this past weekend, huh?! There weren't enough Corona's to keep me cool this weekend!

Hi Everyone. Sorry for the delay in response. I didn't get e-mails letting me know that everyone was hitting this thread. I have spoken to some on here and not to others. Quick update:

Bill Lange, Michael Garger, Roger C, and Co are all under investigation by the U.S Justice Department. If you contacted the FBI, they will push this to the bottom of the pile. Believe me, I've already gone there 8 months ago.

Bottom line, Garber's funds were frozen on 12/8/08. Lange is nowhere to be found, however our government will find him just fine. Garber will be dealt with.

I was the only one to personally confront Garber. He lives 12 miles from me at my NJ residence. He told me point blank that he sent all the money to Bill Lange. So now the investigation is in full force and we will have answers soon.

I am not sure where the money is. I wish I did as I have a lot of money in also. I have committed a full time job to make sure our government has the resources to get an indictment. It will happen.

Those that want to reach me, I will put you in touch with the U.S Justice Dept division that is handling this case. PM me, call me or e-mail me. Thanks and I promise to stay more apprised to this thread.

Nationwide: I somewhat resent your statement. Understand this: The integrity of our industry has declined over the last 5 years. Why? Because fraud is being committed all over the country. In fact, isn't CA the leading state in mortgage fraud? I'm not trying to pick an argument with you, but the fact is that there is a black eye surrounding our industry and it is up to all of us to improve that integrity.

The go zone, if done correctly, and in the right area is a very very very good investment, especially to those with passive income and heavy income tax liability over the last 5 years. Additionally, if you are in the right area, your competition is low due to the destroyed housing inventory.

I did a lot of good business in the Go Zone, but have also fallen victim to uncontrollable circumstances, such as sheister builders and so called lenders. In fact one of the builders that got me was a county manager for a certain area of Michigan! Who woulda thought?! Don't tell me that you have never been screwed over before in this industry.

Anyway, I feel ya though. If you have good stuff where you are at in CA, no need to get involved in other stuff, but don't stygmatize the Go Zone with no reason.

Let's all collectively try to make real estate a better industry.