Locked out Millionaire in You owner also runs closed Jakobstettel Inn
The Waterloo headquarters for the Millionaire in You Wealth Institute, owned and run by Daniel P. Reeve, has been taken back by the landlord for nonpayment of rent.
Mat Wolf, a principal in Solowave Investments, the landlord for the property at 423 King St. N., said his company changed the locks and took back the premises on April 16, 2009.
Wolf said Solowave tried for weeks to meet with Reeve in an effort to make arrangements to get back rent owed, but each meeting was deferred by Reeve.
"We have had no success in actually meeting with him and we went through a process of making a formal demand for the rent arrears," Wolf said.
Reeve is also the president of Jakobstettel Properties Inc., which ran Jakobstettel Inn in St. Jacobs until its sudden closing in early April.
The inn property on Isabella Street is in power of sale proceedings because of defaults on the mortgage.
Reeve said on an April 17 the Record interview that he hopes to meet with the landlord of the Millionaire in You office to work out an arrangement to reopen the office.
He also said that he is "in the middle of refinancing" the business.
Reeve also used to head Daniel P. Reeve and Associates Financial Services Inc. and was the "chief visionary officer," for DPR Financial Inc. Now, both websites, www.dpr-financial.com. and www.themillionaire-inyou.com, are no longer functioning.
Another site, www.corporateangel.ca, was still functioning as of April 17. It advertises Reeve's books such as The Millionaire Mortgage, which claims to show people how to "turn your mortgage from being a burden of debt into a high-earning investment vehicle," and do so "without even changing your cash flow."
The Millionaire in You Wealth Institute offices in the 5,000-square-foot building opened in November 2007.
The office was to be a state-of-the-art "command centre" for the Millionaire Group and its affiliated businesses that encompassed Millionaire Travel, Millionaire Executive Services, Millionaire Mortgages and other businesses.
Waterloo Regional Police are now "reviewing" 35 complaints about products offered by various businesses headed by Reeve, Staff Sgt. Wally Hogg said in mid-April to the Record.
In an interview on April 8 with the Record, Reeve said his companies have done nothing wrong and he is confident that nothing further will come from the review.
Reeve also said at the time that the Jakobstettel Inn was closed because he was training new staff. He said he planned to reopen it on April 21.
Former suppliers to Reeve's businesses say they also are owed money. Daniel Tuka of The Essential Image in Waterloo said he is owed $5,000, plus material costs, on a project completed about eight months ago to produce promotional DVD discs for The Millionaire in You Wealth Institute.
People who paid deposits for weddings that were booked at the Jakobstettel Inn are also trying to get their money back.
Showing posts with label nightmare. Show all posts
Showing posts with label nightmare. Show all posts
Saturday, April 25, 2009
The Wedding Nightmare Continues
Jakobstettel Inn can operate despite power-of-sale process.
The Jakobstettel Inn property in St. Jacobs is in the midst of a power-of-sale process because of defaults on mortgage payments, according to court documents.
The inn, located in an old mansion on Isabella Street in St. Jacobs, had been booked by couples who put down deposits for upcoming weddings. Those couples have been scrambling to make other arrangements since the inn suddenly closed down.
In a statement of claim served to Jakobstettel Properties Inc. on Jan. 22, the mortgage holder, Brunen Holdings Inc. of Kitchener, claimed it is owed almost $350,000 in principal and interest on a mortgage of $655,461 that was registered last June in the Waterloo Region land registry office.
Last month, the Ontario Superior Court of Justice granted Brunen Holdings the authority to issue a writ for possession of the property when it is sold, so that it can be turned over to a new owner.
Bruce Lackenbauer, a Brunen Holdings representative, said the court order basically allows the power-of-sale process to proceed. That process is now underway, but the writ of possession has not been taken out yet, he said.
"We don't want to get into possession until we have to, and the power-of-sale process requires appraisals and that sort of thing, so we are just in the process of that now," he said.
Lackenbauer said the power-of-sale process does not prevent the inn from operating. "We are not in any way preventing it from being open. That is up to the business, which is Jakobstettel Properties Inc.," he said.
The president of Jakobstettel Properties Inc., Daniel P. Reeve, has not returned calls since last week. His lawyer also has not returned calls.
Reeve said in an interview with the Record on April 8 that he was training staff and would reopen the inn on April 21, but couples who have weddings booked at the inn are still in a state of confusion about whether the property will be available to them. As of April 14, there was still no answering machine or voice mail system to pick up calls to the inn.
The Jakobstettel Inn property in St. Jacobs is in the midst of a power-of-sale process because of defaults on mortgage payments, according to court documents.
The inn, located in an old mansion on Isabella Street in St. Jacobs, had been booked by couples who put down deposits for upcoming weddings. Those couples have been scrambling to make other arrangements since the inn suddenly closed down.
In a statement of claim served to Jakobstettel Properties Inc. on Jan. 22, the mortgage holder, Brunen Holdings Inc. of Kitchener, claimed it is owed almost $350,000 in principal and interest on a mortgage of $655,461 that was registered last June in the Waterloo Region land registry office.
Last month, the Ontario Superior Court of Justice granted Brunen Holdings the authority to issue a writ for possession of the property when it is sold, so that it can be turned over to a new owner.
Bruce Lackenbauer, a Brunen Holdings representative, said the court order basically allows the power-of-sale process to proceed. That process is now underway, but the writ of possession has not been taken out yet, he said.
"We don't want to get into possession until we have to, and the power-of-sale process requires appraisals and that sort of thing, so we are just in the process of that now," he said.
Lackenbauer said the power-of-sale process does not prevent the inn from operating. "We are not in any way preventing it from being open. That is up to the business, which is Jakobstettel Properties Inc.," he said.
The president of Jakobstettel Properties Inc., Daniel P. Reeve, has not returned calls since last week. His lawyer also has not returned calls.
Reeve said in an interview with the Record on April 8 that he was training staff and would reopen the inn on April 21, but couples who have weddings booked at the inn are still in a state of confusion about whether the property will be available to them. As of April 14, there was still no answering machine or voice mail system to pick up calls to the inn.
Monday, April 13, 2009
Wedding Nightmare, North of Waterloo
No answer at the inn! Horror of horrors! What's going on north of Waterloo, Ontario?
Couples who had wedding plans at the Jakobstettel Inn in St. Jacobs, Ontario, Canada are suddenly scrambling to find other venues after the inn located in an old mansion closed.
Meanwhile, Waterloo Regional Police are reviewing 22 complaints about investment products offered by various businesses headed by Jakobstettel Inn's owner, Daniel P. Reeve, who also runs DPR Financial Inc. and The Millionaire in You Wealth Institute on King Street in Waterloo.
Staff Sgt. Wally Hogg of the Waterloo Regional Police fraud squad said the review is taking place to see whether a full investigation is warranted.
In a telephone interview with The Record, Reeve denied that there were any problems.
"We have hid nothing . . . we have done nothing wrong," he said.
Reeve said he fully intends to reopen the Jakobstettel Inn for business on April 21 and is training new staff.
He promised to refund money owed couples who booked weddings, but are now worried and want to cancel the bookings.
"If anybody wants to cancel, they will get their deposit back. If they want to continue on, great . . . we will honour any commitment," Reeve said.
Some couples haven't heard anything from Reeve or anyone else from Jakobstettel Inn. Others have started a Facebook group in an effort to find out what is going on.
The inn was found locked with no information on its door. The phone was unanswered and there was no answering machine picking up messages.
Reeve said if anyone has any problems or questions, they should call his assistant at 519-883-8414 or 1-866-240-6737.
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