Last I heard, the cops were looking for Mike Cade, who seems to be on the run as no one can find him. I like to picture him hiding in a cardboard box under an overpass getting abused by the homeless druggies.

I heard from the police that someone beat the s**t out of Mike several months ago (thank you to whomever you are!) and was apparently scared enough about it that he wouldn’t tell the police who did it.

We ended up suing Mike Cade and Prime Realtors in March of 2010. Mike’s lawyer had contacted us just before the default judgement became official asking us to withdraw it and that he would sign an Agreed Judgement. Our attorney Jeff Morrison (morrisonpllc.com) tried to contact them but never got a reply. Our default judgement became official.

We then had start the process of filing a claim with the Texas Real Estate Commission (Trec). They have a Recovery Fund set up to reimburse people who lost money from licensed real estate brokers and agents.

First we had to fill out a bunch of paperwork, send in documentation and prooff of our losses and any supporting documents we could. We then had to wait until the next Trec commissioner’s meeting which was two months away (They only meet once every three months to review claims against the fund). We weren’t able to have the case decided at the November 2010 Commissioner’s meeting as they wanted more documentation from us. The next meeting was in February 2011, where the Commission reviewed our claim and decided in our favor.

We had to fill out a lot more paperwork and notarize forms and spent a good amount on Fedex getting original documents back and forth, but after about a month, we received payment on our judgement.

Again, our attorney is Jeff Morrison. He did an outstanding job, very fair fees and is a no B.S. kind of guy. It’s let’s get the job done and move on. The last thing we wanted was to deal with any more drama.

Jeff managed to navigate us through the confusing maze known as the Texas Real Estate Commission successfully, which based on our research online, is no easy task.

Jeffrey A. Morrison
Morrison Law Office, PLLC
The Rangers Ballpark in Arlington
1000 Ballpark Way, Suite 308
Arlington, TX  76011

817.701.1845 Tele
817.701.1841 Fax

Now that we’ve started to recover and we’ve managed to get Mike Cade’s Brokers License revoked, the only thing left that I’d like to see is for Mike to do some jail time. It seems that could be accomplished soon as I’m told the police are looking for him and he’s on the run.

If a picture is worth a thousand words, this is a GREAT thousand words:

I am holding a bad check for $5600 for several months. I have it up for collection at his bank but, his secretary or office person deposits the income daily. I figured there would be enough monies in there in the first week of the month to get it paid. It included my tenants security deposits. My maintance deposits, and rents for Jan 2010 and some of the Feb. rents.

I have determined that he takes the money out the day after it is deposited so no one can grab it.  I knew the trust account was cleaned out as soon as a $1,458 check bounced from it. He probably has a savings account at that bank to cover any funds he takes out the next day to cover the bank in case any of the deposits bounce.

Out here in California, if you bounce several checks the bank cancels your account and other banks won’t take you if you have any outstanding checks you haven’t made good on. 

I filed with TREC but they have a 90-120 day backlog.  I figure he is setting up his retirement account and will live in style once he is out of jail at our  expense. I went to the DA and they sent me to the Arlington police to file a complaint and if they find he has committed a crime they fill refer it back to the DA for prosecution.

I have been in touch with Dave D. but you can also put me on your list of “the screwed”

Mike owes me $18k in rents and security deposits. My story is very similar to the one I read on your website.

He was good at the beginning, then gradually keeping back collected rents. He would carry out repairs in excess of $1,000 without first informing me (contrary to the mgt contract). Then he will not send the operating statements nor rent until I demanded them.

He rarely replies email or return calls. Eventually, I took off 7 consecutive working days to go through my file in his office and got him to issue checks for part of the past rents. All checks were dishonored by the bank.

Someone told me I could send them to the District Attorney’s office for prosecution (felony). I’m gathering more information about that. I will also contact the detective you mentioned in your email to present my case.

Jane Doe:

I was even there to try and help him re-pay some of the owners that were defaulted but instead of showing appriciation he turned his back on me in a time of desperate need….. there is also alot of unpaid employees of mike cade that worked the hours and were not paid!!!!!!

I know of one that worked full work days to try and get everything straightened out at his office and he just flat out didn’t pay her!!!! he owes her approx. $3,000 he only gave her one check and that was for $187 and some change and also pulled some swift strokes of the pen to make the bank not pay on or cash the check.

I pray your successful in getting him thrown in jail.

Hello,

My name is XXXX XXXX. I am XX years old. Me and my girlfriend recently signed a lease at XXXX LXXX Ln in Arlington TX, which is owned by Prime Realtors.

Everything was ok at first, we signed an agreement on the 28th of April to move in the house on the 14th of May, gave them a deposit for $795 to hold the house and was told by an agent that the house would be done in a week and ready by our move in date.

The house was in poor condition on the inside, smelled bad of animal urine, the carpet was stained, had a hole in the wall with marks and scratches all over the walls, tile in the bathroom needed redone, refridgerator was moldy. So we figured 2 weeks it would be done…

so on the 5th of april I contacted Kim with Prime Realtors and was told I would be able to set up electric in my name that the house would be ready, so we went ahead and set up water, gas, electric, and cable was scheduled but never turned on.

I tried to get ahold of them and until Wednesday the 12th was I able to get ahold of anyone in their office which was Mike, and was told I could come pick up keys on thursday. Went to the office thursday morning to pick up keys and he couldnt print the lease papers so we had to wait for Kim, by this time I’ve called into work for the day to finish.

So finally I get Kim there to sign off for the lease, She asks for the $795 deposit which Ive already given her, so I show her the reciept she wrote me for it. I give her my deposit and pet deposit and get keys. I go to the house the only thing they did was patched a hole in the wall. The house was exactly the same.

I go to the office and tell her, she says someone will be there in an hour to fix it. I figure by the time we get all of our stuff moved out they will be done. We get everything in the trailor and by this time its been 8 hours, they’ve had time to get in there and knock out a reasonable amount of work. We pull up and no one has been there..

I called Kim after taking about 30 pictures, and told her we want to cancel our lease. Now we have to stay in my apartment with nothing but a tv and a few pairs of clothes and blankets because all of our things are in a trailer which luckily was my moms boyfriend’s which is in storage with no charge.

Today, Friday the 14th my girlfriend went to get the check for our money back, they misspelled her name and she identified it so he scratched her name out on the check and rewrote it and initialed it. The bank wouldn’t take it. As of right now she is in the office waiting on Mike to show up to give her the check, in which before leaving she will call the bank to make sure funds are sufficient, if not she is calling the police.

- XXXX XXXXX

I was referred to Mike Cade in 2006 from an acquaintance who had recently started using his company “Prime Realtors Property Management” and was happy to date. I was looking for a new property manager since I had just had two in a row that were not doing a good job and in one case was actually doing a terrible job.

For the first year and a half, I had few problems with Mike (mostly accounting problems) but overall he was doing a better job than the previous two were.

Around 2008 things started to go bad. Mike Cade was starting to send my rents that he had collected later and later. In the beginning, he had promised to pay by the 20th of the month, but often paid sooner. By 2008, Mike wasn’t paying until early the following month. By the end of 2008, he would often send the rents in the middle of the following month.

Every couple of months, I’d call Mike and put pressure on him and grill him as to why my rent money wasn’t being paid on time. The next month or two, he’d send the rents earlier.

The other issue that kept on growing was repairs. All of a sudden, I was getting hit with major repairs every single month on multiple units. This led to more accounting “mistakes” where he would bill me for putting in new carpet one month, then “accidentally” bill me for the same carpet again the next month or month after. Of course the problem with him billing me for these things is that he calculates everything he’s billing me for and subtracts that amount from the rent money that he sends me. This means that every time I find a problem with his accounting, I have to prove it to him, get him to agree with me on it, then get him to send me the money that he took (which I could rarely get him to send).

There were other months where he charged me for a plumbing bill at several hundred dollars, then included the same bill in the next month’s expenses.

whenever I would ask him why he keeps screwing up and double billing me, he’d blame his “incompetent” staff (his discription, not mine) or the software they use. Interesting that his incompetent staff and software never mistakenly gave me too much money. Why is that? The laws of probability say that if it’s an honest mistake, it should happen an equal number of times in my favor as his, but never does.

Another interesting mistake made several times by Mike Cade at Prime Realtors Property Management would be to report that a tenant hadn’t paid rent at the time that the statements went out so they’d mark the income for the month as zero. The next month they’d show the tenant had paid rent for the new month as usual but no record of the missing previous month. Then when I look at the rent paid Year To Date column, it shows they did pay but Mike never sent it to me. The ironic part is that he WOULD take out his cut of the “management fee” of the rent he supposedly never collected!

The point there is simple, if he never collected the rent then he should have applied the previous months rent to the rent outstanding. If the tenant never paid anything then they should have been evicted. According to Mike’s statements, the tenant just skipped a month’s rent and he did nothing even though according to the Year To Date, the missing rent was collected… Can you say BS??

Yet another example is a tenant would be evicted and would forfeit their security deposits, but Mike never bothers to send those deposits to me, despite billing me for all of the repairs needed that the deposit should have covered.

So after all the accounting “mistakes” we get to early 2010. Mike is as usual is quite late in sending me the rent payments. January bleeds into February and February bleeds into March and Mike still hasn’t sent me a dime of my rent money. By now I’m calling and emailing Mike Cade several times a week. His voicemail on his cell phone is always full and he’s supposedly never in the office. Now I’m getting worried. Around this time, I got a call from the person that referred me to Mike in the first place saying that Mike was supposed to be paying the mortgage payments on his property with the rent collected and that the mortgage company had just notified him that Mike Cade had bounced two mortgage payment checks in a row and they were getting ready to take action. At this point the floodgates opened up and I found out that Mike owed over $50,000 to another client.

At this point I decided to get out before mike could collect and steal another month’s rents from me. I quickly started searching for and found another property management company. I sent Prime Realtors Property management and Mike Cade an email and left phone messages for them letting them know that I switched and that they are not to accept any more rents or any other money from tenants (which they did anyway and haven’t given back to me) and that my new PM company would be coming by to get the keys, leases, and security deposits, etc…

Well, I’d like to act suprised but really wasn’t when we got a call from the new property manager saying that prime realtors property management did not have the security deposit, pet deposit, or last months rents to return to us. Keep in mind that money is not supposed to be touched. From the day the tenant gives that money to us, it is suppsosed to go into a trust account and stay there until they move out. Mike Cade stole that money as well as all of my rents.