- $400M of Harvey Relief Funds Held Up by the Shutdown Will Now Be Disbursed To Help Repair Homes of Senior, Disabled, and Low-Income Houstonians [Houston Public Media]
- A $9.75M River Oaks Foreclosure with an Indoor Pool, Sauna, and Stained-Glass Skylight [Houston Chronicle]
- Hines Eyes 5-Acre Tract on 34th St. in Garden Oaks for Midrise Apartment Building [HBJ ($)]
- New Multilevel H-E-B Debuts Its Food and Booze Selection in Former Heights Dry Zone [Houston Chronicle; previously on Swamplot]
Photo of I-10: Marc Longoria via Swamplot Flickr Pool
Headlines
Anyone know what the story is behind the foreclosure?
J: Other than people not paying their mortgage?
It smells of overextension and madly moving money around on a sinking ship.
HCAD says it was owned by an individual from 2007 to 2016, and then by RO MANSE 1708 LLC for a couple years, at which time it was taken over by Goldman Sachs Bank USA.
County Clerk says that same individual:
– In 2000 purchased a property in Tanglewood.
– In 2002 purchased a property in River Oaks (Addition).
– In 2007 purchased another property in River Oaks (Country Club Estates).
– In 2010 had a tax lien levied by the IRS.
– In 2016 had a lien levied by a service company.
– In 2016 transferred three houses to three different LLCs named after the addresses, of which RO MANSE 1708 was one.
– In 2018 had a lien levied by a service company.
– In 2018 had another lien levied by the original contractor.
– In 2018 lost the three houses by foreclosure to Goldman Sachs Bank USA, because he couldn’t pay his eight-digit debt obligation.
Further investigation reveals that the individual is said to be an oil billionaire who at one point moved to Peru to attempt to avoid taxes, and that the Peruvian government is after him too. Also that Goldman Sachs took his $66M yacht. Cue the violins.
Oh, hey, previously on Swamplot: http://swamplot.com/goldman-sachs-following-bargain-sale-of-bill-kallops-yacht-by-marking-down-his-river-oaks-house-too/2018-10-22/
Cody-yes. A failure that spectacular usually has a little dirt.
HCAD is very user friendly. Easy to see ownership and property transactions. Follow that up with some Google searching and you shall find your answers.
Seems like ol’ William likes to have a little too much fun that Goldman Sachs didn’t agree with. Not only did they recently take this home, but they also seized his 40M yacht in 2017.
Don’t borrow if you don’t intend to repay – one of the simplest lessons in life
@ googlemaster
it was a 66 METER yacht worth $40M, but at this point its po-tat-o po-tot-o
great internet Sherlock work, keeping true to your name ;)
https://yachtharbour.com/news/william-kallop-s-66m-yacht-seized-by-goldman-sachs-1908
Looks like ex-owner lost a fortune in the crude bust after reinvesting the proceeds from the sale of his oil company into Quicksilver Resources, an E/P company that is now bankrupt and non existent. The timeline of taking loans against his boat and probably his homes fits nicely in the crude market down years. I wonder how broke he actually is today or if he stashed away money over the years.
Just STOP with the OVER development of Houston. It’s RUINED this city and will only get WORSE..
The story re: 1709 River Oaks Blvd. is he spent money they doesn’t have any more. (it probably was NOT his $$$$ to begin with.. They have tacky, Gawd awful taste and they need to be run outta town. Pronto !!! In other words ,he’s NOT a billionaire and he probably embezzled / STOLE his $$$$ and had to run for the border.. Like those Venezuelan / PDVSA con artists shacked up in the Woodlands & in one in Miam -who got caught. Now Mr. Kallops is in the cross hairs of various governments. Probably didn’t go along to get along aka dole out some of those alleged billions.