a week or so ago i posted a piece about foreclosures in the corvallis/benton county area. one of the persons who has at least one such property is local real estate "professional" (a term i use loosely), kip schoning. today i decided to google his name, see what else i could find. wow! seems as though greed has caught up with mr. schoning and some old fashioned karma is running after him faster than a nascar driver. here's just a sampling of what i found:
http://portland.indymedia.org/en/2006/01/331878.shtml
http://www.ci.corvallis.or.us/council/mail-archive/ward1/msg07301.html
http://www.topix.net/content/cj/9472562118916414048
http://www.indymedia.org/en/localfeatureswire/archive367.shtml (scroll down about 1/3 to get the story)
as i said in my original post, if you see a red door with a sign out front that says either "for rent" or "cash for your property"--RUN AWAY!
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11 comments:
It would sure be great if the IRS took a close look at Schoning's financial dealings. An audit that ends in a HUGE penality would be OK but some jail time would be far more just. I wonder if his wife and kids would visit him?
At the very least one would think that the DA in at least one of the multiple counties where Kip has screwed (countless) people over would take an interest in Schoning. Perhaps it's time for a closer look. Maybe it's true that Schoning is not doing anything "illegal" but I personally would like to be assured of this by someone other than Schoning or one of his lacky's.
if we had a real newspaper in this town with real investigative journalists, this would have been old news by now. i keep waiting to hear about a class action lawsuit.....
Hello Portland!!...I have to say a big THANKYOU to all you folks for the tip off. I'm up here in Washington State, on Vashon Island in particular and look who just came to town! That's right....Kip Schoning. He purchased a house here and is TRYING to pull one over on the locals and our building inspectors but it ain't working. We're smelling a rat and the word is out. I heard from a friend who heard from a real estate broker to watch out for this guy and to Google his name. I did..So thanks to you people and to the power of the internet.
hello vashon island! beautiful territory up there.
it's unbelievable to me this guy would be looking at sucking up any new marketplace considering the foreclosures he has here in corvallis. plus where does he get all of this cash??? he has many vacant rentals here in town--his signs are everywhere. good for you all for sticking together and speaking out against him. your intuition is right on target--he is a rat.
i also had to live in the infamous unsafe conditions behind the red door offered by mr.schoning for over a year just because i was a poor college student and could not afford nothing better... now he is trying to charge me all these b/s fees just to keep my deposit and instead make me pay him some more money... i dont think so!
I know from records research that one way Kip and his wife get money is by taking out huge numbers of short term 60day-6mo bridge loans against property they already own. More and more often I see his wife's assets and name, maybe he can't get loans without her anymore?
It looks like they use some of the loans to buy real estate they hope can be turned over fast and some of it to pay of earlier loans. Several of these loans seem to be past due, but in the time it take to forclose a property Schoning comes up with what ever payment (for mortgage, taxes or what ever) he needs to hold on to it.
Imagine, the big schoning real estate empire is all smoke and mirrors, just a huge shell game.
Good thing for his family, he has stealing the deposit for unsuspecting students to fall back on as a up cash source.
Wonder how the kids will feel once they are old enough to understand how mommy and daddy pay for the big house they live in?
The Schonings home on Honeysuckle in Corvallis is in default and scheduled for auction on 2/18/08 at the Benton County Court House.
So, if anyone is looking of an nice place to live, go up and take a look around. You can just go up the drive and look. If you are a "serious" buyer take pictures and measurements. I think it's OK to ring the door bell and ask if you can have a "peek" inside. People came to my house and did it to me when Schoning defaulted on his loan. I hope both Schonings gets a taste of what they dished out to my family.
I am sure Schoning has one of his usualthree card montie game plan and get out of this. Did his "staff" forget to pay the mortgage? Meanwhile I hope everyone he has ever F***ed over checks out Schoning's latest foreclosure up close and personal.
I hope he ends up in a 500 square foot squat like the ones he rents, and when he moves becasue his kids have asthma from the mold, the owner screws him out of his deposit!
Nina,
Good work on keeping the saga of Kip Schoning alive. It was my personal mission for a long time and I am glad to see that others are picking up some of the slack I left as I move to other projects.
Receintly some interesting information about just how Schoning buys some of his homes has crossed my desk, but I will wait on it for a bit to see of his greed catches up with him before I spring it.
I have a feeling that I will find a Schoning empire downfall caused by his (mis)behavior far more sadisfying than anything I come up with. Though part of me is sure he will find someone else to blame for the failture of his "creative financing" schemes! Maybe the guy on late night TV that sells the "NO MONEY DOWN" CD's?
After working for Schoning & Schoning for a very short time I saw what a slumlord is really like. Several times when someone would call about sparks coming out of the burner on the stove he had the attitude, tell them not to use the burner. That was his solution. There are many many stories and sad to say, I was right in the middle of all of it. He will get what he deserves...eventually.
Kip aka Bula always posts on Criagslist for rentals and I notorious flag and warn others. I've never had an encounter but feel the need to criticize his rental practices. Did you happen to see this:
http://gazettetimes.com/news/local/crime-and-courts/article_23a5e14c-9cff-11de-9693-001cc4c002e0.html
I won in small claims court against Kip Schoning but have to collect it myself. does anyone have an idea how to do that on someone that owns their own business? If you do, please send response to Godswhisper1228@yahoo.com. He stole a lot of money from me.
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