Walter Cole, owner of The Cole Team with his wife Elizabeth, are stated to have been moving into Alabama, Florida, and Mississippi with respect to work with Safeguard Properties (SGP) — Caution Google lists SGP as NOT SECURE. It wouldn’t surprise me. Fact of the matter is that The Cole Team operates for short term gains and maximizing profits. And that has been to the peril of Minority Contractors. Sources working in Mexico Beach, Florida, speaking on condition of anonymity, stated that there are contractors whom are approaching 50+ days waiting on payment on debris removal. When considering the relationships between The Cole Team, Abba Construction and UPC Insurance, this is spelling out dissatisfaction with consumers. Going further though, The Cole Team does not even have a web presence. And while Abba Construction, a large provider of work to The Cole Team after Walter’s ascension as Debtor’s Committee Chairman in the NFN Involuntary Bankruptcy, does have a web presence, it is listed as NOT SECURE by Google. This is serious as ABBA Construction bidding on a Secure Information Facility in Florida!
How bad are relationships between Florida Hurricane Victims and The Cole Team? Glad you asked. Homeowners are paying attention to how The Cole Team is operating,
Walter and Elizabeth Cole are attempting to operate within the insurance community acting like chargebacks and no pay is the norm. Hurricane damage repairs are not the same as the Mortgage Field Services Industry. Refusing to pay Minority Contractors because it cuts into the bottom line is not an option.
It is not simply that The Cole Team and Abba Construction do not have a tight handle with respect to contracting. When Foreclosurepedia went along for a ride with Phillip Greiner, a Buffalo native, into the hurricane zones, here is what Tommy Novak, President of Abba Construction, attempted to force homeowners to commit to,
Normally, not that big of a deal. The problem was the contract itself. Novak and Cole demanded that unlicensed contractors with absolutely no legal relationship between they and either The Cole Team or Abba Construction force hurricane victims to sign documents that we were part of a Vericlaim Network. Now, had we been part of it or had there been a blanket agreement between us and either Abba Construction or The Cole Team MAYBE this would fly,
More concerning, though, was the fact that homeowners were required to sign blank checks committing to unknown deposits even before the actual final adjustments were made by the insurance company,
Foreclosurepedia expressed our concerns about the rush to forcing hurricane victims to sign contracts and our deep concerns over the integrity of the process directly to Tommy Novak and Walter Cole. Our reward for doing this was being replaced by lackeys whom would bow down and do the job.
That’s how it always has been, though, with The Cole Team. Promises made to multiple people, all broken, and then moving in people whom will work for bottom dollar providing a sub par product like these contractors hired by The Cole Team whom installed the wrong color of roofing and painted it over instead of replacing.
In order to understand the kind of lies The Cole Team puts out there; to truly understand the depths to which Walter Cole will stoop in order to make a dollar, here is a recording — all parties knew the call was recorded as it announced such when they entered their PIN to attend — of Walter Cole stating that there was work ready for contractors and that homeowners already had insurance checks in their hands. Cole went on to promise that the minute contractors were ready to begin they would be paid FORTY PERCENT DOWN, THIRTY PERCENT AT MID POINT, and THIRTY PERCENT AT THE END. These were all lies.
Here is Walter Cole making these outlandish promises on 03 October 2018 at 1850 EDT,
In fact, none of the projects had scopes available. Moreover, though, not a single homeowner we met even knew whom we were or were ever notified that either The Cole Team or Abba Construction were involved in the process. The Cole Team had guaranteed work and none was coming while simultaneously assigning other hurricane work to his underbidders with the blessing of Abba Construction.
Tommy Novak, President of Abba Construction, came down on the final days and met with homeowners. Novak, a square jawed, corn fed, bible thumping Southerner played the part to a “T”. Blue skying homeowners came built in with Novak. I mean I have heard some pitches made back in the day on the trading floors, but Novak took the cake. Needless to say neither he nor I got along.
Over the next several days, Foreclosurepedia will continue releasing articles and audio recordings of Walter Cole to give the American Public a better idea of the lies Cole sells to ensure the short term gains are met. Which brings me to the question of how precisely Walter Cole was ever appointed as the Debtor’s Committee Chairman in the NFN Bankruptcy. One would think that the character of that designee would have to be sterling?