Comments (61)

Aug 14, 2019

Heard the same thing. Statesman posted this update but haven't seen anything more concrete.

    • 1
Aug 14, 2019
Aug 14, 2019

Jesus, he should be arrested for just wearing that tie in the ABJ article.

    • 9
Aug 14, 2019

laugh

    • 14
    • 1
Aug 14, 2019

Never trust a man with 2 first names

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Aug 14, 2019

This has always held true in my experience, honestly

Aug 14, 2019


This is Nate Paul lol

    • 6
Aug 14, 2019

big boise state fan uh

    • 4
Aug 17, 2019

Looks more like Blue Mountain State to me

    • 1
Aug 14, 2019

Guilty.

    • 3
Aug 26, 2019

He looks like he could be a villain in a batman movie

    • 1
Aug 14, 2019

Sometimes the universe enacts some cosmic justice

    • 2
Aug 14, 2019

A very poetic justice today. The yield curve inverts and the universe takes down the first of many ego driven un-savy investors.

    • 1
Aug 14, 2019

Rumor is Vista may have been raided too

    • 1
Aug 14, 2019

Vista was not raided

Aug 14, 2019

'We are passionate about our role as the leader of reimagining real estate as we know it. We are World Class and the future is now.'

-Nate Paul, Founder, Chairman, President, and CEO

Aug 16, 2019
HotelCREwiz:

'We are passionate about our role as the leader of reimagining real estate as we know it. We are World Class and the future is now.'

-Nate Paul, Founder, Chairman, President, and CEO

What the hell does that even mean?
it's like he used the Dilbert mission statement generator.
Add in the words "paradigm shift" and I think you win 'business jargon bingo'

    • 2
Aug 14, 2019

This is the greatest Wednesday ever! So happy to hear Nate is finally going to face the law.

Also, Vista and Trilogy were raided too.

Aug 14, 2019

Vista and Trilogy were not raided

Aug 14, 2019

You are correct. Maxwell Locke and Ritter was raided at the Frost, they ran taxes for him.

    • 1
Aug 14, 2019

And the list of cringe-inducing RE Company names shrinks.

Aug 14, 2019

I'm sure he was also an investor in Prestige Worldwide

Aug 14, 2019

Yes, he was

Aug 14, 2019

Is Rich Unlces next?

    • 1
Aug 14, 2019

Couldn't happen to a better person. Too bad it took them so long, maybe he'll get to spend some time in the comforts of a federal prison!

Aug 14, 2019

What do you all think will happen to his land portfolio?

Aug 14, 2019

Endeavor will pick it up.

    • 4
Aug 15, 2019

Questionable reporting by KXAN:

"He has since invested in high-profile properties such as the IHOP restaurant site downtown at the corner of Cesar Chavez Street..."

Austinites, is anything high profile about this IHOP? Bold reporting in the city where breakfast tacos rule the world.

    • 1
Aug 15, 2019

High profile because it's a nice tract with huge development potential (near the convention center, near Rainey Street, near I-35) and unrestricted by Capital View Corridors.

Aug 15, 2019

Not trying to split hairs, but I'd call IHOP "high visibility" rather than "high profile". So much of this guy's story is bluster. Just like 99 Trinity is high visibility, he tried to make it "high profile" by announcing a high-rise that never materialized.

Aug 21, 2019

I've attended several SXSWs / Fun Fun Funs and I've always used their lot for parking. Funny, I live in NYC but this is the only IHOP I know off the top of my head.

Aug 15, 2019

It's a great site in Rainey, but in terms of breakfast, it is bottom of the totem pole in Austin.

Aug 15, 2019

Not much to go on, but Dallas Morning News reports:

'There were also reports federal agents searched World Class CEO Nate Paul's home.'

Aug 15, 2019

They hit his house first at around 10 am and were still outside at 5 pm loading boxes into a box truck.

Cognito

Aug 15, 2019

This guy is such a slimy douchebag. My buddy works for a top RE law firm in Texas who Nate tried to hire - they literally refused him as a client and told him they cannot work with him in any capacity due to his reputation. He rolls around in a Bentley with prostitutes and waddles his fat ass around downtown Austin like a pimp.

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Aug 15, 2019

That gaudy creamed-colored Bentley is arguably worse than his choice in dress.

    • 1
Funniest
Aug 16, 2019

Savage Glassdoor review.

    • 16
Aug 16, 2019

Hilarious

Aug 16, 2019
Aug 21, 2019

Forbes really killing it with their glowing profiles of Nate Paul and Elizabeth Holmes...

Sep 9, 2019

Ah, double monk straps...the sign of a true criminal.

Aug 16, 2019

surprised and a bit disappointed that there's no discussion of exactly what he might have done in here. 3M said their deal was legit. this is more than just misstating assets. right?

    • 1
Aug 26, 2019

We don't know anything as of yet and we won't know the full truth until this all plays out, which could take years. My best guess is some form of ponzi-scheme, where they were effectively using new capital to cover losses, show gains and rake in fees to affiliated entities.

I've believed this firm was a scam for over four years now. They own big profile (expensive) pieces of land in Austin that were supposed to be under construction years ago, but never broke dirt. Carrying costs are real, especially with our high property taxes, and I could never figure out how they were paying for debt service, property tax, property insurance and etc. on these deals while the land sat vacant for years.

    • 3
Aug 26, 2019

I worked there for a little while. There was one guy in accounting with the title controller that worked for Sheena. He knew nothing about accounting but was one of the longest tenured people in the company. He spent all his time shuffling cash between 200 bank accounts. Seemed a little shady

Cognito

Aug 19, 2019

Don't know any details but chalk one up for stereotypes proving true. The image of that place was today's Stratton Oakmont. Never checked out their parking lot but I imagine a lot of Camaro's

Most Helpful
Aug 19, 2019

This is probably the best write up I have seen to date.

Not a ton of information, but good color

https://atxrealestatenews.com/2019/08/16/world-cla...

    • 9
Aug 20, 2019

Agree. After I read it, I emailed and thanked her.

Cognito

Aug 21, 2019

This is pretty funny, they requested an interview two weeks back, then went cold. At least I feel validated they had actually did have a lot going on. lol

Aug 29, 2019

.

Aug 29, 2019

Sorry if I am out of the loop, but what's the big deal about this person? The comments make him sound like a scummy person, but these types of people are everywhere.

Aug 29, 2019

There he is!! You're done for Nate

    • 3
Sep 9, 2019
Level 100 Magikarp:

Sorry if I am out of the loop, but what's the big deal about this person? The comments make him sound like a scummy person, but these types of people are everywhere.

World Class Capital news has been a staple of the Real Estate forum for years.

Sep 3, 2019
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Sep 9, 2019
Sep 9, 2019
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