Oct 13, 2005

Bill White, Nazi Landlord

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Bill White, during his Pravda-US days

Lisa Renee Ward contributed a ton of research to this story

Toledoans are curious about Bill White, leader of the Roanoke VA National Socialist Movement (NSM) unit.

White, over the past two years, has suddenly become quite the real estate investor in Roanoke. This is especially interesting in light of his relatively young age (27) and his previous incarnation as - ostensibly - a private property-eschewing anarchist and socialist.

The city of Roanoke real estate records show White as an individual owner of 10 properties, and his White Homes and Land LLC group owns another 8 properties. All of these have been purchased in the past 19 months, suggesting that White recently came into a fairly large sum of money.

The properties total approximately $1.1 million in valuation.

Also interesting is the fact that at least 4 of these properties were purchased from one of his attorneys, John H. Kennet:

(data courtesy of City of Roanoke, VA)

832 PATTERSON AV SW
$85,000 7/7/2005
Wilson Larry W Etux
Kennet John H Jr (previously $100,000 on 4/29/2005)

PATTERSON AV SW (vacant commercial)
$85,000 7/7/2005
Wilson, Lary
Kennet John H Jr (previously $100,000 on 4/29/2005)

PATTERSON AV SW (vacant commercial)
$85,000 7/7/2005
Wilson Larry
Kennet John H Jr (previously $100,000 on 4/29/2005)

819 CAMPBELL AV SW
$85,000 7/7/2005
Wilson Larry
Kennet John H (previously $100,000 on 4/29/2005)

All four of these properties fell in value by $15,000 when sold to White; he pocketed a cool $60,000 in equity in the transaction.

Nice work if you can get it; this deed-shuffling works out to a pace of about $300,000 a year if he can keep finding these "deals."

Perhaps Mr. White should devote himself more fully to his real estate ventures. Better yet, he might have a terrific career ahead of him as a get-rich-quick-in-real-estate author.

That is, if his land deals are indeed legitimate profit-seeking by an entreprenurial-minded investor.

What's your secret, Mr. White?

17 comments:

Anonymous said...

good info

Lisa Renee said...

He seems to have found some really good deals, proof that when it comes to real estate it's not necessarily what you know but who you know. Thanks to both his attorney and Ralph Smith, he has some good connections.

It doesn't make sense, if you looked at his land purchased you'd think you were looking at the portfolio of more of a yupster not someone that involved in the NSM. That's not even counting his varied history in other groups prior to changing over to the NSM. Quite the puzzle our Mr. White is...

Anonymous said...

check into White's "buy White" scam

Hooda Thunkit said...
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Hooda Thunkit said...

As soon as Mr. White's name is mentioned, the property devalues.

Mr. White appears to be the sole factor for this.

Seems that his association (or, even interest) is enough to "sour" any property.

Conclusion:

Bill White = white trash...

Bill White said...

The total valuation of my company and I's direct investment in Roanoke's West End, including notes and non-real assets is about $2 million. This does not more passive interests in other ventures (other companies / partnerships).

The actual appraised values of those properties, when we finish construction on them, is closer to $1.4 - $1.5 mil is (using an objective measure, such as gross cash flows against cap rate, though they appraise about the same as well). They cash flow, when full, about $150,000 a year from rents (though the bulk of my company's cash flow is from borrowing against the forced appreciation).

And, technically, I started the company with $13,000 cash. I just know how to grow it

As to the properties "purchased" from local attorneys, that's what a property record looks like during certain types of foreclosure. The grantor is the trustee, either of the court or under the deed of trust.

Because most of the expenses involved in foreclosing condemned property are not part of the purchase price, of course the land records indicate a lower sale price. Second, the primary expense in acquiring a condemned building is reconstruction, and that is not reflected in land records. Third, when we purchase such buildings, we generally have them reappraised downwards by the City because our investment in them qualifies us for tax relief -- i.e., the right to have them taxed at a lower value.

Et cetera. There are answers to all these questions. If you ever want to do an article on real estate investing and models of urban redevelopment, I'll be happy to go into depth with you.

For now, understand that I do very difficult real estate deals -- I buy properties that are physically collapsing, that have bad titles, that are crackhouses, and I clear them out and make them nice places to live. The reason they are difficult is because they require a lot of knowledge and ability to acquire, and require a certain type of personality to address -- the type of personality who can walk into an apartment building filled with crack dealers, gang members, crack heads, guys who have just been release from prison and tell them they will all be moving in the very near future.

Or, the type of person who can lead a march of national socialists through a gang-ridden neighborhood to tell them we are sick of their misbehavior and crime.

;-D

Bill White said...

Oh, and the Wilson transactions represent the differences in the blanket notes used to acquire the properties.

The actual equity we acquire from that deal, once we make 819 Campbell livable again, will be about $137,000, not $60,000. That does not include the estimated $25,000 that will have to be invested in rehabbing the buildings and making them livable -- take that out and the profit is more like $112,000.

My company purchased those properties for paper -- no cash involved, with payments suspended. We foreclosed the paper once, Wilson pulled a dummy bankruptcy, and we fought him in bankruptcy court for about five months until he surrendered and transferred the properties on a deed of barter.

So we end up owing $85,000 on four properties (two buildings), that cash flow about $2200 a month (that includes reducing rent in 832 Patterson by removing two of the apartments) against a $700 a month payment.

And yes, that's a very good deal. That's how I make money.

But why did no one else take this deal?

One, both buildings were crackhouses that were full of people renting there illegally. To clear them out, we had large portions of both buildings condemned. Now only does that reduces cash flow, and increase short term holding costs, but it also means that the tenants literally had to be forced out of the building. The tenants there did all sorts of fun things before they left -- including stabbing each other, assaulting and accosting me repeatedly, burglarizing the building -- they even set a big pile of garbage on fire outside the building. To illustrate the buildings problems -- while we were foreclosing, we actually had one person die from overdosing on crack cocaine in one of the side apartments.

Second, because the previous landlord was a known slumlord who hadn't paid taxes or his mortgage for five years and three years respectively. I had to clear about $8,500 in back taxes on the properties immediately after purchase. And the guy filed a bogus bankruptcy to stop my first foreclosure. And he sued me on top of it, claiming I was violating debt collection laws (he lost).

Third, the buildings have (in one case, had) serious structural problems. On one of them, we only just recently stabilized the three story porch out back -- which was in danger of imminent collapse, and which I wasn't 100% sure could be saved.

So, the short answer to your question is that I take on very difficult projects that make a lot of money.

Lisa Renee said...
This comment has been removed by a blog administrator.
Lisa Renee said...

I'd also add that public systems online like Roanoke have are fun to play with. I've done the same thing here with Lucas County.

Back in the old days if you wanted to research property value or court records you'd have to actually go to the tax or court office to get documents. Now? Alot of stuff is online.

It's a good idea for anyone who is renting or buying because not only can they check the value of the property but here in Lucas County you can see if the taxes are deliquent and if they are often delinquent. Especially important if you are a renter because chances are if your Landlord continually pays his taxes late or is close to having the property sold due to tax deliquency? It's something you should know.

Lisa Renee said...

I delted my above because I had my names mixed up (note to self don't multitask too much when writing)

Ohio law must be different than VA law because Larry Wilson is listed as buying the properties for $100,000 just a few months before you did at $85,000. Here in Ohio, past due mortgages and deliquent taxes have to be paid before you can sell or transfer property.

Now, is the relation of the price difference something that has to do with Mr. Wilson? It just doesn't make sense that he would take a $60,000 loss in that short of a time period. It appears he has bought and sold other properties so you wouldn't think that he would have made an error but for whatever reason, you did get a very good deal on those four properties.

As well as the two ones from Ralph Smith. I'm assuming they are adjoining to something else you own since $105.00 each for two pieces of land would seem like an excellent deal until you look at the lot sizes.

I'd suggest you consider seminars or a book on how to buy 2 million dollars worth of property with only $13,000.

:-)

Bill White said...

No. My company is listed as "buying" them for $100,000 a few months before, because we foreclosed twice. So the order of transfer was -- Wilson bought them in 1999, we foreclosed in April 05, they were transferred back to Wilson by judicial order in July 05, and then transferred back to my company in August or September. Thus the record shows a series of transactions with no real consideration -- just theoretical values-- essentially numbers that we agree with the city represent the value of the property for purposes of the recordation tax. The actual transactions were a deed of foreclosure, an order voiding the foreclosure, and a deed of barter and sale.

And Ralph Smith, Incorporated, is an estate auction company. Again, because of those were sold on something other than a general warranty deed and transferred in an other than usual manner, the official number used for tax purposes is somewhat irrelevant.

I may be wasting my breath here though. Real estate is more than one person buying a property at another price. Once you get out of the basics, it is a very complex subject without about seven hundred years of law behind it. The kind of transactions you are looking at are complicated, not just to record, but to understand, and I think some of the concepts are going over your head.

I'll give it one more try though:

Larry Wilson buys a property for paper from a private owner. This means that he puts no cash down and writes out some IOUS -- called paper or notes -- to the previous owner. In this case, one note was for about $110,000 and one was for about $10,000. The $110,000 was secured for property, and thus a "mortgage note", and the $10,000 was unsecured.

Wilson defaults on the notes. I buy the notes in a paper exchange -- meaning I give my company's good paper secured under the UCC with and for Wilson's bad paper.

I then have the right to foreclose the defaulted paper. I did so. Wilson bankrupted the day beforehand, didn't tell anyone, then sued to have my deed of foreclosure voided.

We countersued for relief from the automatic stay, arguing that because the property was held by Wilson and his wife as joint tenants by the entirety that it was not part of the bankruptcy estate and thus not subject to the stay.

The judge rejected that argument but granted relief and voided any future stay if Wilson were to have dismissed his bankruptcy and refiled. As it turns out, Wilson did dismiss.

Rather than have us foreclose again -- and have me sue on any deficiency on the voided note and on the unsecured note -- Wilson then surrendered the property for the note. My company then converted our paper for two notes secured by deeds of trust on the properties (essentially mortgages, though legally different), and we make payments to the original owners as if they had sold us the properties for paper.

So all Wilson did was settle a lawsuit out of court.

My company is now investing about $30,000 into those two properties, which we expect will be wroth $90,000 and $120,000 when down (plus $11,000-ish for the land), for a total value of $221,000 in property against an investment of:

$90,000 in paper (including a side deal I didn't detail here to avoid complication)
$25,000 in cash for repairs
$10,000-ish in cash for acquisition (pay off tax liens, legal fees, etc).

So, using round numbers, we end up with $131,000 in equity (somewhere I've lost $6,000), of which $95,000-ish is "profit" on top of expenditure (I forget legal and tax costs in the first thing. If we add in closing costs, it goes down to maybe $92,000. In any case, its a lot of money).

And note that this is all income-tax free (though not property tax free).

Now, if you can understand that, you can also make money like I do.

And I probably should write a book on this -- I am that good. ;-D

Lisa Renee said...

I understand it, the Wilson's were not making the payments they agreed to pay to the Toneys, you or rather White Homes bought the paper on the notes in March of 2005 then made Kennet the trustee of the property. There was a foreclosure sale and the next day the property was "sold" but really transfered from Kennett to White Homes. In reality all this did was remove Larry Wilson from the deal because you already owned the notes.

Larry Wilson tried to hold off by filing bankruptcy. You kind of won because you did end up with the property but you did not have the original sale from April approved so you had to have another "sale" when you bought the properties. Given the deed work was already done that necessitated the second "sale", for a lesser amount this time.

Personally it appears the Toneys should not have sold the properties to Wilson in the first place given his financial situation but it's easy to see how you or to be precise your attorney acquired the notes for cheaper, they were tired of dealing with it.

I didn't get why the other two vacant lots went for that price given neither one of them had that value - especially since you testified at the bankruptcy hearing that the lots were only worth between 5,500 and $6,5000 each. The total amount Wilson bought all four from the Toney's was $117,000 in 1999 from the way I understand it. So, I'm assuming that what that means is since it is one parcel with four addresses, you in reality only paid $85,000 for all four (Well not really paid since you already owned the notes and had paid the Toney's for it) Here in Lucas County those additional parcels would have a zero value if they were "attached" to the parcel the way these were, so that is what caused alot of confusion.

So, the way you are making money in real estate is to find people who either have done a land contract type deal to people that are not paying or to buy the notes from people who can't pay. I don't think your profit is quite that high because you have to also deduct whatever you paid the Toney's to get the note, I'd say though given how long they went without collecting any payment you probably didn't have to pay them very much to get the note.

Does that about sum it up?

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Time Realty Asbestosis said...

Racist Slum lord John McCloskey AKA Jack McCloskey forces cancer patient out of his home by not making repairs to the house. here is a copy of part of his story....

Asbestosis and mold in the house... 3 year lease with only one year done.

Asbestosis is a serious, progressive, long-term disease of the lungs. Asbestosis is not a cancer. Inhaling asbestos fibers that irritate and inflame lung tissues, causing the lung tissues to scar, causes asbestosis. The scarring makes it hard to breathe and difficult for oxygen and carbon dioxide pass through the lungs. Asbestosis generally progresses slowly. The latency period for the onset of asbestosis is typically 10-20 years after the initial exposure. The disease can vary from asymptomatic (no symptoms) to disabling and potentially fatal.

Land Lords Info Is:
Time Realty & Mortgage Co
License ID:00307461
John Francis Jr McCloskey,A.K.A Jack McCloskey
(650)992-913
timerealty@comcast.net
16 LOUVAINE PLACE
COLMA, CA 94015-2024
Below is a short copy of the details of the case. There are many more issues such as racist comments directed about my wife and friends (Asians, African & Moroccan) There are 5 open cases with the San Francisco the DBI you can go to www.sfgov.org. Look under building inspection for the address: 314 Polaris Way San Francisco 94112.
The Owners:
Walter & Vivian Jebe
650-965-2982
413 Hillwood Ct
Mountain View, CA 94040
Trust me we have tried to contact the owner many times and they did not seem to care, that their life long home where their children had grown up in the Excelsior District of San Francisco was being torn apart by this slum lord property manager. The agent Mr. McCloskey did not inform us that there was Asbestos on the property knowing that I had cancer and that my wife and I were hoping to have kids. Both my cat and I have developed breathing problems and this Slum lord has refused to make repairs. He has tried to evict us many times after we reported infractions to the city. We did move from another property in which he only paid part of our old deposit back to us, and said if we did not like it to move. We have attempted to resolve the many issues that we have had with him but he has just refused to give us back our deposit and tries to evict us. Here is a brief list of some of the infractions:

John Francis McCloskey, Jack McCloskey (Our Landlord) has seriously and wantonly disregarded our tenancy rights, and created intolerable living conditions. He has refused to make repairs to the home in which I rent. Although the following is not a total recitation of our tenancy and interactions with Landlord, it should suffice to illustrate the problems that Landlord has created during our tenancy: In every agreement for the rental of residential premises, California law implies a warranty of habitability. This warranty means that the premises are habitable and that the landlord will undertake the repairs and maintenance required to keep the premises in a habitable condition during the term of the tenancy. Some of the problem that exist are: Asbestos, faulty electric wiring throughout the house, faulty plumbing ,front door knob lock is missing its strike plate at frame the front door knob lock latch does not swing freely, failing to latch and lock properly, and thus presenting a security risk. There is excessive soot and / or scorching above the fireplace indicative of failure to properly draft smoke. The dining room ceiling light fixture exhibits illegal installation / wiring, having several splices outside of junction boxes, thus constituting shock and fire hazards. There are no smoke detectors in the house thus constituting a severe fire hazard. The front bedroom window is not properly weather stripped to prevent rain penetration and the wall by the window is water damaged. The water stains and peeling paint indicate this condition is long standing and pervasive, and if there is not already mold contamination in the wall, it is only a matter of time before there is. The basement has non-code compliant plumbing, including a sink drain line exhibiting an "S-trap" sewer line (lack of proper vent line), thus failing to properly drain and vent out raw sewage and raw sewage gases, which are noxious, toxic, and flammable.''

John F McCloskey Time realty said...

Slum lord John McCloskey AKA Jack McCloskey forces cancer patient out of his home by not making repairs to the house. here is a copy of part of his story....

Asbestosis and mold in the house... 3 year lease with only one year done.

Asbestosis is a serious, progressive, long-term disease of the lungs. Asbestosis is not a cancer. Inhaling asbestos fibers that irritate and inflame lung tissues, causing the lung tissues to scar, causes asbestosis. The scarring makes it hard to breathe and difficult for oxygen and carbon dioxide pass through the lungs. Asbestosis generally progresses slowly. The latency period for the onset of asbestosis is typically 10-20 years after the initial exposure. The disease can vary from asymptomatic (no symptoms) to disabling and potentially fatal.

Land Lords Info Is:
Time Realty & Mortgage Co
License ID:00307461
John Francis Jr McCloskey,A.K.A Jack McCloskey
(650)992-913
timerealty@comcast.net
16 LOUVAINE PLACE
COLMA, CA 94015-2024
Below is a short copy of the details of the case. There are many more issues such as racist comments directed about my wife and friends (Asians, African & Moroccan) There are 5 open cases with the San Francisco the DBI you can go to www.sfgov.org. Look under building inspection for the address: 314 Polaris Way San Francisco 94112.
The Owners:
Walter & Vivian Jebe
650-965-2982
413 Hillwood Ct
Mountain View, CA 94040
Trust me we have tried to contact the owner many times and they did not seem to care, that their life long home where their children had grown up in the Excelsior District of San Francisco was being torn apart by this slum lord property manager. The agent Mr. McCloskey did not inform us that there was Asbestos on the property knowing that I had cancer and that my wife and I were hoping to have kids. Both my cat and I have developed breathing problems and this Slum lord has refused to make repairs. He has tried to evict us many times after we reported infractions to the city. We did move from another property in which he only paid part of our old deposit back to us, and said if we did not like it to move. We have attempted to resolve the many issues that we have had with him but he has just refused to give us back our deposit and tries to evict us. Here is a brief list of some of the infractions:

John Francis McCloskey, Jack McCloskey (Our Landlord) has seriously and wantonly disregarded our tenancy rights, and created intolerable living conditions. He has refused to make repairs to the home in which I rent. Although the following is not a total recitation of our tenancy and interactions with Landlord, it should suffice to illustrate the problems that Landlord has created during our tenancy: In every agreement for the rental of residential premises, California law implies a warranty of habitability. This warranty means that the premises are habitable and that the landlord will undertake the repairs and maintenance required to keep the premises in a habitable condition during the term of the tenancy. Some of the problem that exist are: Asbestos, faulty electric wiring throughout the house, faulty plumbing ,front door knob lock is missing its strike plate at frame the front door knob lock latch does not swing freely, failing to latch and lock properly, and thus presenting a security risk. There is excessive soot and / or scorching above the fireplace indicative of failure to properly draft smoke. The dining room ceiling light fixture exhibits illegal installation / wiring, having several splices outside of junction boxes, thus constituting shock and fire hazards. There are no smoke detectors in the house thus constituting a severe fire hazard. The front bedroom window is not properly weather stripped to prevent rain penetration and the wall by the window is water damaged. The water stains and peeling paint indicate this condition is long standing and pervasive, and if there is not already mold contamination in the wall, it is only a matter of time before there is. The basement has non-code compliant plumbing, including a sink drain line exhibiting an "S-trap" sewer line (lack of proper vent line), thus failing to properly drain and vent out raw sewage and raw sewage gases, which are noxious, toxic, and flammable.''


Keywords: Asbestosis, Mold, slumlord, racist, hate, Cancer, eviction,

Anonymous said...

Interestingly, White may, like one-time nazi leader "Frank Collin", be a Jew himself. He grew up in a wealthy, largely Jewish neighborhood. How could this be??? Three words: false flag operation.

Anonymous said...

Very interesting stuff on Mr. White.... I agree with the previous poster: there are good reasons for believing White is a false flag operative of the ADL/SPLC axis, who's been set up to justify government action against so-called hate groups.