Richard Morin Richard Morin Aka Morin Properties LLC Do not trust this man or his company San Antonio Texas
He is selling Real Estate investments. I found out that he doesn't have a license. He promises great returns & doesn't deliver. He never returns phone calls. I invested in four deal at one time with him. Not only is he incompetent he was also verbally abusive. To top it all off he is an ex-con on parole. I hope he ends up back in prison where he belongs.
investment 1) I gave him a loan to invest in a house. He did not keep up payments on the mortgage which caused me to be wiped out 100%. he didn't even know about it, I had to tell him what happened. He acted surprised and gave his typical wussy excuse & slick salesman script.
investment 2) I invested in a rental house, he never keeps up with the collection so the tenant basically lives rent free. I have to yell and scream for someone to call me back & ask them what they are going to do. Nothing so far. I found out that they have been stealing the rent & not sending it to me.
investment 3) Invested in a loan on another property- never received any payments. I keep hearing a story that they will be refinanced & I will get my money back...I won't hold my breath.
investment 4) Purchased 50% of an investment property that was supposed to be fixed & sold right away. Nothing is being done on it. Just sitting there. he just took my money & never put it into the property he just put it in his pocket.
My goal is to prevent anyone else from losing any money with this dishonest thief. I will be lucky if I get any of my money back.
Retiredbeachguy
El Segundo, California
U.S.A.
5 Updates & Rebuttals
Retiredbeachguy
El Segundo,California,
U.S.A.
Richard Morin gets 5 years in jail
#6Author of original report
Thu, September 01, 2011
August 30 2011
U.S. Department of Justice
United States Attorney's Office
Western District of Texas
601 N.W. Loop 410; Ste. 600
San Antonio, TX 78216-5597
United States v. Defendant(s) Richard Morin
Case Number 2009R13169 and Court Docket Number 11-CR-00089
Defendant Richard Morin was sentenced by the Court. Court ordered the defendant to the following:
Incarceration of 5 year(s) 3 month(s)
Followed by Supervised Release of 3 year(s)
Special Assessment of $100.00.
Fine of $0.00.
Retiredbeachguy
El Segundo,California,
U.S.A.
Richard Morin is in jail!
#6
Tue, August 25, 2009
The law finally caught up with Mr. Sleazebag Richard Morin.
Ymyfamily
San Antonio,Texas,
U.S.A.
That Sucks It happen to my family and I as well.
#6Consumer Comment
Mon, June 15, 2009
Richard is a great sales man. He knows what to say and trys to make you feel like there are people out there that might be good, however he isn't one of them. We found a house through him and put a deposit down on a house then changed our minds for many reasons. The house had dog crap in every room. To much mess and the truth is his deal would have sold us but he kept trying to get the rest of the money before we signed any paper work. He said he could not fix anything till he had that money. However we had heard after the deposit was already given to him about other people in our area that had been scammed by him. The truth is, my family and I can't afford a hit like the one he gave to so many people. We keep getting the run around with him and am going to be taking this to the next level. We are first time home buyers with not so great credit who did not know the process of buying a house. We are now paying by not being able to put that money towards another house. We learned alot from this but my family should not have to pay for his greed. It should not have to take someone going to court to get there money but some times it is the only way. I hope to all you out there you don't do business w/ him. He post ads in the paper all the time. If you see a number that is 210-999-1381 that is his ad. Walk away no matter how great the deal is. We didn't and I have contacted many people who have been scammed by him. Don't make the mistake and take a chance on someone you have no background on. You don't want to have to give up on any of your dreams because of someone like him!
Retiredbeachguy
El Segundo,California,
U.S.A.
Morin continues to distort the truth.
#6Author of original report
Tue, August 05, 2008
My hope is that this will prevent any other investors from ever falling for your BS.
Show me proof that I you have sent me any of my capital.
As I said, if I have made ANY return on my investment I challenge you to prove I have received any return of my capital. At this point, I am hoping that I have a return of my principal rather than a return on my investment. Last time I checked I have negative returns, & lots of promises. I am well aware of investment risk & have no problem with it & deal with it daily. However,thanks to you I am also reminded of dealing with risky characters & I do not tolerate dishonesty, disrespect, or being treated unprofessionally. You provide zero accounting & accountability for your so called business to me as an investor. It's seems a good dose of honesty & humility would do you good.
Investment #1- I didn't find out I lost money until I did my own investigation & called you. Somehow you & your company have a problem with communication with your investors & keeping track of whether or not you are paying the mortgages.
Investment #2 - If you claim recently sold the mortgage note. Why haven't I received a payoff? "At the end of the day I will receive original plus 30%" I won't hold my breath.
Investment #3 I invested in a house that I own a NON-PERFORMING NOTE, thanks to your brilliant loan servicing & screening process. I can easily calculate my return 0%.
Investment #4 We haved own a vacant house together for $40k since August 2007. Thats great that you think the house is worth $135k. I have yet to see any proof that we have this property under contract. It's just a lot rhetoric. Projected profit is a whole lot different than realized profit. Don't make me laugh about not calling you. You know darn well I have called you numerous times in the past with no response or if you do respond you give me the same empty promises.
I guess when the truth is posted for all to see, it pushes your button & finally gets you to respond. I guess the pressure is on you & you feel cornered. I sincerely hope you get through this as a human being. I would just have appreciated honesty, communication & accountability instead of defensiveness & denial.
Never Give Up Investor
San Antonio,Texas,
U.S.A.
Unhappy investor with Morin Properites LLC
#6REBUTTAL Owner of company
Mon, August 04, 2008
Dear Mr Retired Beach Guy,
Should never deal with wussy investors, in response to your slanderous comments.
Investment #1: We both lost on this mortgage deal that got wiped out. The correspondence was being sent to the original mortgage holder on the wrap note. I lost twice the money on that you invested. As you will know in the real estate business there is calculated risks. Three of the four deals you invested in, you have made usurious returns. But your ignorance provides blinders, which you were constantly. But when your greed sets in Mr. Retired beach guy you become incredibly slanderous, when things don't go your way.
Investment #2: Is not a rental house, you made a small investment. In which we just recently sold, the mortgage note at 76% of the note. As you well know or maybe you don't. The mortgage secondary market has been null and void. At the end of the day you are receiving your originally investment plus 30% profit.
Investment #3: You invested about 50k, in which the house is under your name. We sold the house owner finance and you own a note for 82.8k. Now who do you think is getting ripped off. Can you possibly calculate a return on your money? While you are sitting on the beach drinking a pina colada, wow I should really comment about this deal. Who's talking about integrity now.
Investment #4: You and I purchased a house for 40k, the house is worth 135k. We currently have a contract with our customers getting an origination loan. God forbid you make 40k on your 20k, Mr. Retired Beach Guy. You are the one who should be in jail for slander. By the way I've never been on parole. If you are unhappy with our business, in which you are. Why don't you pick up the phone and call me. All the United States has it. Don't trust slanderous investors. Just think how you would act, if you lost in all 4 investments deals.