Mortgage broker fraud has contributed to a myriad of problems in our real estate and financial markets throughout the US, with the Miami leading the pack.
With the onslaught of new condominium construction in Miami during the cond boom, also came the Condo management companies to manage these properties.
Unregulated management companies also contributed to making problems even worse for unsuspecting new condo owners in Miami. New condo owners would find themselves in desperate need of management services because the market was plagued with crooked condo developers that would pull the "disappearing act" leaving homeowners holding the bag. These management companies, such as SPM Group Inc. Use untrained, unlicensed, inexperienced management staff barely able to speak English and and completely unfamiliar with Federal and State laws that govern condominiums, that would lead small condo properties right into major State and Federal violations and thousands in wasted money and endless nightmares because of negligent management.
Carlos Arteaga co owner of SPM Group Inc., SPM Group Maintenance Division Inc, and Precision Mortgage Broker Business Corp, all in Miami Florida, manages SPM Group Inc. I had the opportunity to interview Mr. Arteaga when he applied for the management position for my condominium association when our Developer "flew the coop" with all of our association money.
Mr. Arteaga came to the interview for the position and slathered on the crap like a used car salesman right out of Hialeah, ensuring all of our current condo problems would be solved for sure with the services of his company. All we needed to do was sign a two year contract, and it will all be okay.
After running our property right into the ground we finally severed the contract successfully for "non performance". Mr. Arteaga offered no defense to our attorney. It had been over three months with absolutely no contact or management services from SPM Group Inc.
It has taken a year for our new management company to clean up the mess in our association paper work from the involvement of SPM Group.
Condo Associations in Miami beware of this company at least until the company is closed for good, which is our relentless goal.
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