All Forum Posts by: Travis D.

Joel....prudent words and very much agree!  For me, I've written off the money already but will check in every now and then to see if any progress is made.   I would much rather focus time and energy on other profitable investments/opportunities going forward. 

I try to take something learned for each negative situation and I'll do the same for this.  With some luck I'll get back a few bucks at some point.  

Hi John,

Sorry to hear you're in the same boat!   I feel your pain.  The whole case is now placed with a Receiver appointed by the Court to work thru the next steps.  They actually update and maintain a site dedicated to this specific case.  

http://www.roop-blr-assetreceivership.com/default....

You can read the latest update which basically mentions the Receiver making a recommendation to the Court that liquidation of asset/homes be thru CH 7 process I believe.   

In those documents it lists all the homes and all known liens on each property and I was able to find my name and lien so you may want to check there too.

I spoke with a CO attorney and he mentioned there is also a stay on any proceedings or court actions (Foreclosure) on any of the homes which was imposed by the Receiver so even if note holders are looking to try to FC I don't think they get very far.  

Seems like a waiting game at this point to see how they plan to resolve the Estate/assets.  Sorry couldn't help more but that site is the best start for up to date info.  

TY Scott & Bill!  I'm going to contact attorney asap and see what I can do.  Very appreciative of the help and comments.  

So in just checking property documents there doesn't seem to be anything related to any mortgages or deeds of trust.  I'm assuming if the mortgage is not recorded than it holds no weight and I can kiss that money goodbye?  Just really disappointed in myself to allow this to happen...so many things I should have done to cover myself now looking back...ugh. 

Thank you for the replies and advice.  I'm going to look into the First Am app and see if I can find if the note is recorded.  Then go from there.  Tx again! 

Good Afternoon,

I'm looking to see if anyone can provide any help or direction.  I just learned today Richard Roop and his company were shut down by the State of Colorado last year for alleged Ponzi scheme and securities charges.  I have a note on a property he owned/owns and it's coming due in 2 weeks.   After numerous attempts to contact he and his company and receiving no response I eventually searched and found out what is going on. 

My question is can anyone provide any advice on where I go from here to see if I have any chance of getting any portion of the note proceeds I'm due. It was held in a Self Directed IRA if it matter. Should I contact a Colorado attorney as that is where he and the property are? Does anyone have a referral to someone if so? I'm sick to my stomach over this now and trying to decide what to do next. Any direction is greatly appreciated! TY!

Attention rehabbers/landlords! 

This is a 3br 2 bath with great potential as rental or flip. 

ARV: $235,000

Repairs:  $20,000-30,000

Price:  $139,900

Mkt Rent: $1,875-1,950/mo

Taxes: $4,700/yr

Property is located 9 blocks to the beach. Great family neighborhood and could be rental, summer home or live year round. Nice flat, deep lot with shed toward the back. Only minutes from beach, shopping, award winning restaurants and train station.

Property needs full kitchen rehab along with downstairs bathroom. Nice opportunity to make nice open plan. Upstairs partially rehabbed already including bath so bedrooms just need minor updates. Aside from some other cosmetic updates this one can be ready to go quickly.

Contact me back for information sheet and additional details/showing. Thanks!  

Thanks Michael!  Appreciate the referral! 

Anyone have a good structural engineer referral for a property in the Monmouth Cty area?  Tx in advance! 

Tx Ken!  That's an option I'll seriously consider to hold this one.  I'll have funds for out of pocket if need be if I go that route.  

Nuhan, ty as well. That was a thought I had as well but I think my main issue is the kitchen needs a full rehab and property needs new furnace so it may be cost prohibitive as a wholetail.  

Thank you both for the feedback.