LIT UPDATE & COMMENTARY
DEC 7, 2024
The history of this property starts with homeowners CATHY J & STEVEN POULOS meeting with Mike Self’s American Home Buyer, Ltd, where he obtained a ten buck deed from the homeowners on Aug. 2022.
The homeowners loans were released (paid) around that time and the vanity LLC is incorporated into the transaction – 6462 LIBERTY VALLEY DRIVE LLC.
All at the same time, this vanity LLC is giving its interest to STOA 3 LLC (AZ), but this startup apparently goes bust at the end of 2023.
Then, exactly 2 years later, in Aug. 2024, the lender seeks to foreclose and sues the vanity LLC for the “Construction Mortgage, Assignment of Rents Security” Mortgage borrowing in Aug. of 2022.
The home is now showing as owned by a Dallas-based entity, Open House Texas Realty & Investments LLC, which leads back to Colton Apartments/Properties LLC which in turn is returning the name Noel Collins (and Preston Freeman/Jerald R. Hinton and their entities).
The address is a multi-purpose commercial building, with Unit 225 showing “Open House” as a tenant, which leads to the website of the same name, leading one to believe there’s American businesses and law firms aiding the overseas Japanese-controlled interests.
Unless corrected, LIT maintains this residential house is now owned by Japanese Investors, c/o US legal assistants (the law firm of Moses Palmer Howell, LLP, Ft Worth/Dallas, et al).
Open House Group is a publicly-traded company and the largest single-family home developer in the Tokyo metropolitan area.
When deciding on ways to expand further, it was decided to begin operations in the United States. This began some time ago with Open House Realty and Investments in Los Angeles, specializing in high end “flips” and renovations.
Not only does Open House oversee all renovations, our recently established Property Management departments in each market also oversee rent collections, maintenance, and tenant requests. We are a one-stop-shop for an investor looking to have a stress-free investment in the US market.
The Japanese have also capitalized on open borders, open houses, literally. We’ll be releasing more on how we’re finding our residential properties are being stolen by Wall St, purchased by international entities who then rent them back to American residents as the US Gov smiles. pic.twitter.com/3PxkQFBp6e
— lawsinusa (@lawsinusa) December 7, 2024
STOA 3, LLC – THE STARTUP REAL ESTATE INVESTMENT FLIPPIN’ BUSINESS IN ARIZONA WHICH COLLAPSED, QUICKLY
Who is Joe Stockton of STOA 3 LLC (Arizona)?
NMLS ID #1841717
Arizona Mortgage Broker License #1002728
From lawyer Joe Stockton’s LI Resume
Jan 2023 – Dec 2023 – 1 year
Stoa was a platform to source and renovate off-market houses that will be transitioned into SFR investment portfolios.
I joined the company at its post-Series B stage to help scale the business in an asset light manner.
My team was responsible for the legal, compliance, risk, transaction management and strategic partnership functions at Stoa, and we were strong cross functional partners with all other business units to help position the company for success.
What sayeth the @SECGov: No need to register when it’s a foreclosure auction investment scheme with no legal disclosures on website?
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Pool Your Funds with other Investors gives you access to investments that may not be possible for you as individual investor pic.twitter.com/l1fq0eQU8y— lawsinusa (@lawsinusa) December 5, 2024
The case would be nonsuited without prejudice on Oct 2, 2024. The HAR listing claims the property sold on Sep. 27, 2024.