90 Day Fiance couple Elizabeth Potthast and Andrei Castravet are at present on their third season of Fortunately Ever After. Sadly for viewers, the couple appears to have the identical actual story line they’ve had since their 90 Day Fiance debut in 2017.
Except for an occasional second marriage ceremony in Moldova, or Libby’s sibbies trying to set the Guinness World Report for many sisters breastfeeding concurrently, just about each episode is in regards to the rigidity between work-challenged Andrei and Elizabeth’s dad, Chuck the Florida actual property tycoon.
Ol’ Chuck doesn’t actually come throughout because the sort of man who might construct or run a big actual property empire, which impressed me to do some digging into the Potthast household enterprise.
On condition that the Potthasts have been on TLC for what looks as if greater than a decade, it is sensible that I’m not the primary 90 Daytective to go snooping into Potthast, Inc. In July of final yr, YouTuber Sharrell from Sharrell’s World shared some data she bought in regards to the Potthast’s actual property firm, CDC Capital Investements, LLC. (Video embedded on the backside of this publish.)
The data within the video included samples of horrible Yelp opinions, in addition to some authorized paperwork. Earlier than I get to that data (and extra), let me set the stage a bit of bit.
The earliest documentation I might discover on what seems to be the Potthasts’ primary actual property enterprise is from January, 2013. That doc is the Digital Article of Group for a Florida restricted legal responsibility firm known as PT Capital Investments, LLC. The registered agent is listed as Elizabeth’s brother, Daniel Potthast. There are additionally three further managing members/managers together with Chuck (Charles R. Potthast) and Chuck’s dad, Charles J. Potthast. There may be additionally a lady listed, however I don’t see the necessity to embrace her identify right here.
In December of 2013, Chuck’s dad and the girl each resigned from the corporate, leaving simply Chuck and Daniel. From all the analysis that I did, it seems as if Daniel is the one who’s legally answerable for issues.
Just a little greater than two years after the Potthasts made their TLC debut on 90 Day Fiance Season 5, PT Capital Investments, LLC modified its identify to CDC Capital Funding, LLC. That is the identify listed within the opinions and courtroom paperwork shared by Sharrell.
Lower than a yr earlier than the identify change, the Potthast enterprise obtained three TERRIBLE opinions on Yelp. It seems as if Yelp mechanically made the identify change replace to CDC Capital Investments on their website, so the Potthasts had been unable to ditch the dangerous opinions. (I’m not saying that was the explanation for the identify change, merely that they didn’t get the added bonus of forsaking three horrible Yelp opinions.)
Listed here are the Yelp reviews with areas and dates:
Lake Metropolis, FL
I moved from oklahoma to florida. i discovered this property (840 sw illinois st fort white) for hire and so they had been very good and labored with me to get into the home. little did i do know that i must transfer 2 years later earlier than christmas to a brand new home as a result of they didn’t personal the property and the mortgage firm who owns it’s making me transfer!!! i’m a mother with 2 children, 3 canine and a cat. that is essentially the most horrible factor i’ve ever needed to do to my kids in such a brief time frame and all earlier than christmas of all holidays.
Beware of those crooks! Daniel will inform you it’s okay to pay your hire late then when your prepared to gather your deposit Chuck will inform you’ve all these late charges. It’s a rip-off they run forwards and backwards and also you get screwed. My daughter was with out warmth for 2 weeks in January through the two coldest weeks in Tallahassee. These two Pennywise clowns make slum lords appear like Walt Disney.
Actually need unfavorable stats for these evil of us! Moved in to a rental property, lower than 6 months later we get a termination of the lease, giving us 2 weeks to maneuver, claiming the home was bought! Came upon the home was FORECLOSED on. Nobody bothered to inform us it was up on the market or foreclosures…certain would have been good to know upfront. Foreclosures don’t occur that quick! On prime of the two weeks to discover a new place, the letter really threatens to cost us 3 TIMES the courtroom prices if we’re not out by the first. Observe we obtained this letter on the sixteenth a SATURDAY. Keep away from these individuals! Keep away from this firm! They don’t reply cellphone calls, they don’t have voice mail. Very shady!!
As you’ll discover from the opinions above, the Potthasts personal (or declare to personal) properties in a number of Florida counties. I spent a couple of hours looking out and located dozens of properties owned by CDC Capital Investments stretching from south Florida all the best way to Pensacola within the western most portion of the panhandle. They really personal fairly a couple of properties in Escambia County the place Pensacola is situated.
In case you had been questioning in regards to the validity of the opinions, they appear genuine to me. I found the court documents regarding the earliest evaluate by Christina J., and it seems prefer it went down precisely as she described.
CDC Capital purchased the foreclosed property and rented it out. However, it seems that the legitimacy of the acquisition was in query. The mortgage firm that owned the mortgage of the earlier householders sued CDC Capital in February of 2015 claiming that they nonetheless legally owned the property. A decide dominated in favor of the mortgage firm and the property was auctioned off (once more?) on November 7, 2018. That was 37 days earlier than Christina left her unfavorable evaluate.
#90DayFiance Maybe Elizabeth’s relations had been in no place to guage her Moldovan fiance Andr-r-r-rAY so harshly? Take a look at their reasonably in depth mug shot picture assortment with arrest particulars: https://t.co/gQ2MAgTz64 pic.twitter.com/U9apg5058M
— Starcasm (@starcasm) December 11, 2017
I attempted to discover a case associated to the grievance by Lance W. in Crawfordville, Florida, however had no luck. It’s very doubtless he didn’t go as far as to sue. The identical can’t stated for an additional tenant from Crawfordville who sued CDC Capital in 2016 after extra alleged shady practices. The tenants allege within the grievance that they signed a 24-month lease in December of 2014. As soon as once more, there was a difficulty with a foreclosures.
“The events got here to an settlement underneath which the Plaintiffs would vacate the property and the lease be terminated in or close to September of 2016,” reads the grievance. The tenants adopted via and vacated the property.
By October 1, CDC Capital had leased the property to another person! Including insult to harm, CDC Capital despatched a letter to the tenants saying they broke their lease and wouldn’t be getting their deposit again until they wished to danger being sued for the rest of their 24-month lease plus authorized bills:
We symbolize your landlord, CDC Capital Investments, LLC. You executed a lease settlement on December 14, 2014, connected hereto as Exhibit “A”. You’re at present in breach of that settlement by abandoning the premises on September 15, 2016. Pursuant to the phrases of the lease settlement, we’re owed a the rest of $5,343.27 (stated steadiness consists of an utility of final month’s hire to the excellent steadiness).”
We’ll waive the excellent steadiness and take into account the lease terminated with every celebration poing their separate methods should you afgree to waive declare to the safety deposit we’ve ($1,595.00). Do you have to intend to demand return of the safety deposit, we’ll in fact return similar much less any declare we impose to recuperate injury, however we may even deliver motion for breach and demand the complete quantity excellent. We may even demand — and can doubtless be granted — lawyer’s charges and prices.
That case was later settled with a joint discover of dismissal of all claims with prejudice filed by the plaintiff’s lawyer on March 19, 2018.
These circumstances weren’t an remoted incident for CDC Capital. I spent a couple of extra hours combing via civil courtroom information in quite a few Florida counties and got here throughout dozens of comparable circumstances.
I’m undecided how widespread it’s that foreclosures purchases are later disputed by the unique mortgage lender, however coping with that actual concern seems to be a full-time job for the Potthast enterprise lawyer! For instance, looking out Escambia County courtroom information turns up 5 open civil circumstances involving foreclosures that record CDC Capital Investments because the defendant. I received’t have the ability to view the precise paperwork till they’re reviewed by the clerk, however the dockets appear to point they’re related conditions.
Whereas trying via CDC Capital property information I’ve seen a variety of loopy low cost buy costs listed — some as little as $5,000? Is that proper? Granted, most all the properties I discovered which can be owned by CDC Properties aren’t appraised at greater than $200,000, however a few of these numbers are sort of ridiculous. Is the potential possession dispute danger a part of the explanation that the worth is so low in foreclosures purchases?
Regardless, it seems just like the Potthasts have a reasonably sizable window of some years to hire out properties earlier than the opportunity of dropping them and having in addition tenants.
Right here’s one other related instance taken from a unfavorable evaluate for CDC Capital Investments on the Better Business Bureau website:
My spouse and I had been on the lookout for one other place to reside after the place we had been dwelling at was bought. Our credit score rating was not the perfect however had good employment historical past and cash in financial savings. Most companies wouldn’t contact us on account of credit score till we discovered a property managed by this CDC Capital Investments. They acknowledged so long as we pay first months hire, deposit, and final months hire together with a pet deposit they might hire us this property. We paid them $4585 up entrance earlier than we moved in. In November we had a stranger come to our door asking in regards to the foreclosures standing of the property. We defined we had no concept what he was speaking about as we had simply completed transferring in and had been renting the property. We didn’t hear something extra about it till January 09, 2019 by one other stranger who was wanting to have a look at the property earlier than it went up for public sale as a result of foreclosures. It was after this go to we made contact with CDC Capital asking what the standing was. We had been knowledgeable by them that there was nothing to fret about, that the proprietor of the property had misplaced it in chapter and so they had been engaged on buying the property to proceed to hire it out and if they didn’t buy it we might nonetheless have at the least six months earlier than the financial institution would make contact with us about both persevering with to hire or they might purchase out our lease. We obtained a discover on January 16, 2019 advising us we had 30 days to maneuver or we might be evicted from the property by the financial institution who took over the property from CDC Capital. We made contact with the realtor and got here to a cope with the financial institution giving us 60 days to maneuver together with a small settlement. We made contact with CDC Capital on January 17, 2019 and so they acknowledged they might name us again in ten minutes. Since then we’ve not obtained any return cellphone calls or emails from them in reference to the cash we’ve paid to them or any refund of that cash.
Desired End result: Refund. We’re on the lookout for the refund of our deposits that we paid to CDC Capital since they not personal the property together with the refund of our final months hire since but once more they not personal the property. We’d additionally like at minimal a return of the present months hire prorated for the time that the corporate did personal the property for a complete of $840. This may make a refund whole of $3980.
Renting out properties wherein the authorized possession is likely to be in query isn’t the one authorized points for the CDC Capital Investments. The latest instance that I noticed was a quotation from the town of Tampa for “accumulation of particles” at one of many CDC Capital properties. The corporate was ordered to pay $163 in fines and courtroom prices. They had been formally paid up earlier this yr, however not till after their debt was despatched to a set company.
In the long run, I’ll admit that I used to be reasonably shocked at simply what number of properties the Potthasts personal. Nonetheless, their enterprise mannequin appears to depart loads to be desired. Plus, should you’ve learn this far then you might be properly conscious that the numbers of properties they really legally personal is likely to be a bit decrease.
Andrei ought to in all probability attempt to discover work someplace else, if TLC producers will permit it. I would even suggest that he get in on the bottom ground of the quickly rising Libby’s Sibbies OnlyFans empire!
I’ll wrap up by embedding the Sharrell’s World video on Potthast, Inc. wherein she additionally has enjoyable scrolling via our Potthast family mug shot collection post: