Fiscal Dynamics Wins in Yakima

Posted September 10th, 2007 by Joe Kaiser

I suppose you'll think we scammed them, but I'll let your guys make that call. Their attorney seemed to think it was good enough.

Dear Rob,

It’s always nice to knock down a win, particularly in Yakima.

They’ve been difficult to work with, to put it kindly, and getting the judge to see things our way and picking up a much deserved check is a good thing, indeed.

The nonsense, particularly in Yakima County, was getting old.


those guys are underhanded

We’d had a couple experiences in Yakima that were not satisfactory.

One, we’d requested title reports under the Public Records Act and had been turned down, with the county prosecutor maintaining title reports are “lists of individuals.”

Riiiiiight.

I should have sued him. Next time, I will.

Another time a partner called and casually mentioned Fiscal Dynamics to a gal at the treasurer’s office, and when she heard our name, she said, “Oooooo, those guys are underhanded.”

We’d never even done a deal in Yakima at the time, but clearly, word gets around.


garnishing the county

But the last one took the cake.

During 2005 Hell Week (where I brought a bunch of investor buddies to town to do deals with me statewide), we’d done a deal with the City of Yakima, purchasing a $100k lien for $10k.

Ten cents on the dollar?

I suppose you’ll think we scammed them, but I’ll let your guys make that call. Their attorney seemed to think it was good enough.

By owning that lien, it allowed us to buy property in the tax sale and have at least a 50/50 chance of collecting any overage created. It’s not a slam dunk, but fast acting creditors can sometimes collect overages by garnishing the county holding the funds.

But not in Yakima County.

There, it turns out, when you garnish the county in an overage matter, they will respond with a 70 page answer to the writ, contending the money DOES NOT belong to the former owner.

Yes, I know you think it does, and I know Judge Theodore Spearman believes it does as well, but the folks at Yakima County think otherwise and have 70 pages of reasons why it does not.


How convenient

Interestingly, it’s the same 70 page answer Pierce County used when we garnished them a few years ago (wonder if they’re connected?). In that case, they rejected our garnishment action and those funds became their funds shortly thereafter.

Conflict of interest?

Ya think?

But this time, in Yakima County, we decided to press the matter and what do you know, the judge ruled in our favor, essentially telling the county you can’t have it both ways.

The county says . . .

It’s the former owner’s money when we apply for it, but it’s suddenly not the former owner’s money when we garnish it.

. . . but it didn’t work this time around.


A big win

I don’t really know the exact particulars of the case, since I sold out a year and a half ago. So, if I missed a fact or two along the way describing it here, excuse my error.

In any case, what I do know is the judge decided those funds belong to the former owner and with the judgment against that owner, they should be paid out to Fiscal Dynamics, Inc.

And $45k came our way.

A big win for Fiscal Dynamics, Inc., and what I’d like to believe is the first of many more to come.

Respectfully,

Joe Kaiser


2 Responses to: “Fiscal Dynamics Wins in Yakima”

  1. anemonehead responds:
    Posted: September 11th, 2007 at 1:15 pm

    Congrats Joe,

    It’s about time the law was actually interpreted in your favor. Chalk up one for the good guys.

    Cudos to the judge for seeing it for what it was.

  2. Davido responds:
    Posted: September 18th, 2007 at 9:19 pm

    A second on that. Hearty congratulations to you, Walt, and Fiscal Dynamics! Who saw it through? Did Walt?


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