A glut of residences and lots owned by a Springfield property investor and motivational speaker are headed to the auction block tomorrow to settle debts.
According to trustee’s sale notices published in The Daily Events and Missouri secretary of state filings, 32 properties owned by J. Barry Watts are scheduled to be sold at 2 p.m. June 24 on the Greene County Courthouse steps.
The sales seek to claim loan debts ranging from $47,200 to $1.3 million, representing combined debt of $11.1 million, according to The Daily Events.
The properties are owned by eight limited liability companies organized by Watts. He and Millington, Glass & Love attorney Jeffery Love, the trustee listed for the sales, could not be reached for comment by deadline.
Largely in Springfield, the properties are organized under:
- Jordan Creek Real Estate Fund LLC;
- Properties Partners LLC;
- Railey Creek Real Estate Fund LLC;
- RJ Edwards Investment Properties LLC;
- Solomon Real Estate Holdings LLC;
- Springfield Property Management Inc.;
- Springfield Real Estate Fund 2009 LLC; and
- Springfield Real Estate Fund B-09 LLC.
Not all of the LLCs - which have a registered address of 2847 S. Ingram Mill Road - are listed as active by the secretary of state.
Springfield Property Management Inc. signed on in the mid-2000s as a franchisee of Dallas-based HomeVestors of America Inc., the company known for its slogan, “We buy ugly houses.” Springfield Property Management represented a partnership between Watts and Gerald “Jay” Vigneaux, according to
Springfield Business Journal archives.
In the late 1990s and early 200s, Watts also operated James River Holdings Corp., which grew to be a $100 million investment management firm, according to
JBarryWatts.com. The website indicates Watt’s HomeVestors team purchased and renovated 400 houses in Springfield. He’s also a motivational speaker via Abundant Living, which is designed to help people transition to retirement.
A separate trustee’s sale is scheduled June 30 for property Watts owns under Wilson’s Creek Real Estate Fund LLC. The tract has a listed debt of $1.3 million, according to The Daily Events.[[In-content Ad]]
