Woods Cove I has a new officer in Wayzata, Minnesota (suburb of Minneapolis). He is James Kenneth Beltz. Formerly a partner in Wayzata Investment Partners = Lakeview Holding. I am attaching a deed they recorded this week in Franklin County from Woods Cove I to some buyer of the house forfeited. Beltz lists himself as the Managing Director of Woods Cove and is the Minneapolis point-man for Imperial Capital Asset Management (Imperial Capital LLC) of Los Angeles, CA.
Woods Cove II got the Summit County tax liens in 2011 and Cuyahoga County ones in 2012. But Woods Cove I bought its tax liens in Franklin County in 2010 for 13.25%. Cuyahoga they get the for 18%. That means that the folks in Cuyahoga County have to pay their tax bill plus 18% to redeem; in Franklin County, it is 13.25%. So these investors seem to make a good enough return at 13.25% at auction.
Woods Cove III won the Summit County bid in December, 2012 and Woods Cove I, II, III, and IV are all operating in this State. There is a tax sale in Cuyahoga County in May, 2013 so I wonder who will be the winning bidder? My bets are on Woods Cove III or IV.
Found some lovely customer service from Woods Cove II in Summit. Lots of complaints.