I had contacted BH Capital Limited through one of their agents, Ron Coleman of NEPCO, Inc. to arrange financing for a multi-family apartment building. They provided a few references, including news journalist Bill Kurtis (ABC News).
They provided an initial "approval" of the loan within days, but quickly started backpeddling. Their "approval" was not based upon any document or due diligence review, it was just a way to collect upfront advance fees.
George Lovato Jr. runs this company in New Mexico, along with Terry Suitt from Florida. Ron Coleman of NEPCO, Inc. is based in Georgia, and was the agent involved in the loan file. They gave numerous representations, commitments and approvals to us and to attorneys involved in the transaction that proved to be false. They misrepresented the status, NEVER obtained an actual loan approval, and came up with numerous excuses for the delays.They were incompetent, unprofessional, and outright lied about certain facts (which we caught later). They would not return phone calls or emails for days (if at all), and made tons of excuses. Records show that we provided all documents and information within 48 hours of request. Five months later, they indicated that they can't finance a property in our state! They ended up wasting a tremendous amount of our time and money, and ripped us off for thousands of dollars.
To put this complaint into context, we are experienced real estate developers and managers, with over 20 years of experience. We went to them based upon a unique set of circumstances, that were fully diclosed at the time of contact, and thay they agreed to - and they indicated would not be an issue.
Further, once we realized that they were incompetent, we secured another loan with another lending institution without issue. There was nothing wrong with the loan package, collateral or credit - they simply were bumbling idiots.
Save your money and alot of aggravation - stay away from BH Capital, George Lovato, Terry Suitt and Ron Coleman. I wish we had.
I had Three (3) Clients that deposited large Retainers via Terry Suitt's efforts through to BH Cap Ltd / Lovato. The approximate amount of these Retainers was greater then $410,000.00. If you believe you were defrauded money and I do then suggest you contact the ... FBI in Abq. NM / White Collar Crime Unit. You may also wish to contact the Attorney Generals Office of the State of NM. My Three Clients received "Nothing from Lovato / BH Cap Ltd" (did have for months on end their biz plan revised many many times which was not the reason BH Cap was so retained) other then having their money defrauded from them. They also demanded their funds be returned and received Nothing as well. Contact the FBI as they may be able to assist you?
Appreciate the update. I too almost was scammed by Ron Coleman in the Georgia area. He tried to get our group to pay an upfront retainer just to be introduced to George Lovato. Red flag one. Then after a call with George Lovato and Terry Suitt they tried to convince us to pay them 100k - 250k to set up a bond program to raise the capital for our project. Red Flag Two. After going with our gut and researching their associates we ran as fast as we could away from these guys. Red Flag Three. All of these guys are scammers including their associates who are being investigated by the FBI. Bad News all around.
BH Capital Ltd Reviews
I had contacted BH Capital Limited through one of their agents, Ron Coleman of NEPCO, Inc. to arrange financing for a multi-family apartment building. They provided a few references, including news journalist Bill Kurtis (ABC News).
They provided an initial "approval" of the loan within days, but quickly started backpeddling. Their "approval" was not based upon any document or due diligence review, it was just a way to collect upfront advance fees.
George Lovato Jr. runs this company in New Mexico, along with Terry Suitt from Florida. Ron Coleman of NEPCO, Inc. is based in Georgia, and was the agent involved in the loan file. They gave numerous representations, commitments and approvals to us and to attorneys involved in the transaction that proved to be false. They misrepresented the status, NEVER obtained an actual loan approval, and came up with numerous excuses for the delays.They were incompetent, unprofessional, and outright lied about certain facts (which we caught later). They would not return phone calls or emails for days (if at all), and made tons of excuses. Records show that we provided all documents and information within 48 hours of request. Five months later, they indicated that they can't finance a property in our state! They ended up wasting a tremendous amount of our time and money, and ripped us off for thousands of dollars.
To put this complaint into context, we are experienced real estate developers and managers, with over 20 years of experience. We went to them based upon a unique set of circumstances, that were fully diclosed at the time of contact, and thay they agreed to - and they indicated would not be an issue.
Further, once we realized that they were incompetent, we secured another loan with another lending institution without issue. There was nothing wrong with the loan package, collateral or credit - they simply were bumbling idiots.
Save your money and alot of aggravation - stay away from BH Capital, George Lovato, Terry Suitt and Ron Coleman. I wish we had.
FBI - White Collar Crime Unit
Hello Sir,
I had Three (3) Clients that deposited large Retainers via Terry Suitt's efforts through to BH Cap Ltd / Lovato. The approximate amount of these Retainers was greater then $410,000.00. If you believe you were defrauded money and I do then suggest you contact the ... FBI in Abq. NM / White Collar Crime Unit. You may also wish to contact the Attorney Generals Office of the State of NM. My Three Clients received "Nothing from Lovato / BH Cap Ltd" (did have for months on end their biz plan revised many many times which was not the reason BH Cap was so retained) other then having their money defrauded from them. They also demanded their funds be returned and received Nothing as well. Contact the FBI as they may be able to assist you?
D. P. Dave Bebout
Dodged a bullet
Appreciate the update. I too almost was scammed by Ron Coleman in the Georgia area. He tried to get our group to pay an upfront retainer just to be introduced to George Lovato. Red flag one. Then after a call with George Lovato and Terry Suitt they tried to convince us to pay them 100k - 250k to set up a bond program to raise the capital for our project. Red Flag Two. After going with our gut and researching their associates we ran as fast as we could away from these guys. Red Flag Three. All of these guys are scammers including their associates who are being investigated by the FBI. Bad News all around.