The ACE Family Deserve Their Failure

i'm sorry but i enjoy every moment of my life their big ace family home that they're always flexing is being foreclosed on they will soon no longer have their house which is really the only visual we have that they're successful i think that they bit off more than they could chew when they started hiring all this high-end talent and now he's about to lose everything and to make matters worse they are getting foreclosed on their 10 million dollar house everything they do seems to turn into a scam or lawsuit we're at about 12 lawsuits right now it looks like maybe his wife is gonna leave austin mcbroom is such a freaking scammer i hope this guy goes to jail the ace family only had so long before their golden facade of extravagance eventually came crumbling down taking a move right out of dan bulzerian's playbook austin mcbroom and his wife catherine displayed their decadent life inclusive of mansions and fancy cars to their 19 million subscribers on youtube before being completely and utterly exposed at the time i found it really odd that they had two loans on the property totaling nearly 10 million dollars the ace family's 10 million dollar house with a 10 million mortgage on it is going into foreclosure they're being sued for over 130 million dollars for shady and failed business practices all while their viewership on youtube has declined from 200 million per month in late 2018 to only 10 million per month recently if you were a religious person you'd say that the ace family are currently paying for their sins they're steadily coming to terms with the fact that they cannot outrun the bad decisions from their own past made at a time when everything was going swimmingly and failure seemed like an impossibility however despite previously sitting in a totally unshakable bulletproof position there was always controversy the ace family began their channel back in 2016. and when observing even their first video we can see that the foundation of their channel was built on fake perfection they wanted everyone to think that they were a picture-perfect family consisting of former college basketball player oster mcbroom his fitness model girlfriend catherine peyers and their two-month-old baby elle this image of being a happy high status family with absolutely zero internal problems became increasingly paramount as time progressed they'd wear matching clothes while out and about we were matching today oh yeah we were matching while displaying their perfect home together and on the side austin would even purchase catherine a new car for valentine's day i'll be surprising my queen and my princess with a new car yes people a new car and this is not a prank the naive amongst their audience who believed in their problem-free facade saw them as what you might call family goals and as a result their channel grew insanely fast blasting past a million subscribers less than a year after creating their channel which was met with an over-the-top cringy cliche video celebrating the milestone however now that they had a following people started to notice and therefore call them out on the fake nature of their lives it started somewhat subtly for example catherine made a tweet stating i'm the most laid-back chill drama-free overly calculated person you'll ever meet if you don't like it f off if someone tries to convince you that their personality is this or that it's probably best to assume the opposite because if they really were that thing they wouldn't need to tell you this is highlighted pretty well in that catherine states she's a laid-back drama-free person in a combative tweet that requests people to f off in addition to this you'd respond to fans stating your whack ass is annoying mind your own business your tweet of my pick is the most attention you've ever had lol highlighting that maybe she's not the laid-back genuine individual that she proclaims to be many would probably agree that in the social media world the same rule applies those who look like they have the best lives the best families the best holidays etc etc probably have some of the worst lives because hey how good can your life be if all you're trying to do is make others envious of you everyone could sense the ace family's life was total bs we all know on an unconscious level that this kind of life is complete and utter garbage it's all fake the happy rich problem-free life that you see on instagram does not exist it's a facade usually put up by miserable people looking to mask their own uninteresting personalities but in the case of the ace family there was no rock solid evidence yet they were excellent at covering their trail however after moving into an la mansion only 1.5 years after starting youtube the ace family they began to get exposed on the main screen when introducing the property they framed the whole scenario as if he and catherine had purchased the home i've always wanted my own home and i've never had one catholic's never had one and the fact that we're able to have one together as a family is a blessing we've worked so hard for this and this is something that we've always wanted and to have a home like this to raise l and have a backyard and be able to obviously work from home is such a blessing it has been a dream of mine to have my own house tour this is crazy in addition to this austin mcbroom would make a post on instagram stating if you would have asked me where i'd be at the age of 25 i definitely wouldn't have said i would be standing on the roof of my own house implying that he and catherine had purchased it however people became somewhat suspicious when in a vlog catherine's brother mentioned that they should talk to the owner of the property after noticing a problem with the house bro i would call the owner and ask him about the history of his house baby tell me about that recall about the history of this house viewers would then figure out the address of the property and subsequently discover records stating that it had last sold in april 2016 almost two and a half years before they had moved in additionally they would find another instagram post by a rental agent who stated that he had just leased this exquisite custom view estate in woodland hills prometing responses such as so apparently the new house they bought is just a lease they're paying 17 000 a month to live in this huge house when they don't even need it for what they are idiots they are always preaching about being so down to earth and humble and this and that but instead of just buying a nice home in la they have to spend seventeen thousand dollars each month just to live in this freaking mansion in the woodland hills yeah super down to earth though the ace family wouldn't live in the house for very long after only 10 months of living there they would upload a video titled someone broke into our house stating that while out at disneyland they had been robbed we've been at disney all day and someone broke into our house as you can see this would however turn out to be another event that many considered to be a fake stunt for views viewers found it to be a little suspicious that the robbers decided not to take all the electronics that have been left out in the open on the ground floor i'm so confused they didn't take the wallet they didn't take this stuff including vlogging cameras which were integral to their youtube channel instead going upstairs to look through the walk-in robes where the shoes and clothes were kept in pyrocynical's video on the topic he noted that the ace family had installed numerous cameras around the house we do have cameras yes everywhere yes people don't try to do no funny stuff which were apparently completely useless as the robbers only had small flashlights we obviously have cameras in the house but like i said the house was completely dark and they had some little ash flashlights suspicions were further raised when austin would go to the effort of pointing out a random pair of footprints found in the front garden oh hold up hold up though hold up though hold up oh yeah there you go that's a big foot right there oh those are big feet as if the whole thing had been set up and he was trying to solve his own crime with suspicions raised viewers would look into the possibility that it had been faked and we discovered that one of the police officers in the video looked very similar to a fake hirable police officer from a company called top cop shop la someone would then pose as a financial advisor for austin mcbroom emailing top cop shop la requesting that they provide an invoice for the hire of fake police at which point they would receive a receipt made out to oster mcbroom for the hire of five police cars and six fake police officers catherine then responded to the criticism by doing what all moronic influences do when they're under fire virtue signal by talking about the police to attack those who risk their lives on a daily basis to protect our communities and our families by suggesting that they would participate in a stage robbery amounts to slander to suppose that the police officers that responded to our robbery call were paid to act in a vlog or a staged robbery is ridiculous it doesn't only attack the integrity of our family either they had any integrity to begin with it takes away from a relevant issue which is the safety of our family and our home as well as the integrity of our police department austin would respond by stating that the top cop shop receipt had been faked people made up a receipt that we paid acting actor cops they typed it out made it up and the fact that it was just typed up uh very professional they thought it was real and then they took one of the cops that looked like he was from a movie and put the two pictures together and said it's the same cop but it was completely different four days later the ace family would move to a new property and things seemed to go back to normal however the ace family's housing problems were far from over only a few short months later austin explained that while filming a video with faze rug he would notice two almost finished side-by-side houses close to where they lived and for content they would go and film some videos inside them after getting permission from the builder alright guys so these are the two houses that are almost done being built i think they're gonna be done in like three months and they're gonna be up for six after going back to look at the property once again at a later date austin came up with a crazy idea and i was like let me go and ask him just to see what he would say if i decided to just combine both of the houses they plan on purchasing both houses and combining them together to create one mega mansion which they knew would fit perfectly with the ace family's luxurious branding the problem was that both homes had already been completed internally meaning that have to gut the inside of the houses knock out walls connect the whole thing up add a new driveway etc etc so the project was going to cost substantially more than if they were to buy each house separately like way more when looking at a basic real estate map for sold properties surrounding the two houses they wanted to combine together pretty much every single sale price is under 1.5 million let's give them the benefit of the doubt and say that each property was worth 3 million on their own considering each house was brand new and on top of a hill with a view which would total 6 million for the two houses well after all was said and done the ace family paid 10 million and 64 dollars for the two houses as a combined finished product we are here at the mcboom residence about to sign our lives away our lives not only had they paid a premium of approximately four million to have the houses combined but they also paid 10 million for a property in an area where very few had sold for more than 2 million however just in case the purchase wasn't stupid enough already it was then revealed that they had financed the entire 10 million dollars from two different hard money lenders at the end of july 2019 the mcbrooms took out a hard money loan of 8.85 million dollars from five arch funding corp and another one million dollar loan from tmk development llc who i'm assuming is also a hard money lender hard money loans are expensive loans used by house flippers that almost always have a one year payback term they're considered expensive because the borrower typically pays multiple points at closing and an interest rate of 10 to 12 percent on an interest-only loan the amount owed is about 9.5 million dollars at 12 interest the loan is 95 000 per month interest only add-on property taxes which for that property are exactly 10 000 a month insurance and maintenance gives you a total monthly cost of well over a hundred and ten thousand dollars every single month now while 110 000 per month seems pretty damn expensive for you and me we can assume that the mcbrooms are making well over a million per month at this point so to them 110k per month with their income at the time seemed somewhat reasonable the key word however is at the time social media stars like sports stars as cornelius outlined excellently in his video have some of the most fragile careers imaginable especially for those like the ace family where all they're really bringing to the table is look at how much money i have or look at our amazing family which people get bored of pretty damn quickly as soon as the ace family had announced that their house was finally finished everything started to go downhill after moving into their new 10 million mansion it seemed as though they stopped paying for an unfinished 7 000 a month lease at their previous rental property and as a result they would be sued by their landlord for 65 000 this would accompany what would be a total of 12 different lawsuits shortly after moving into their extravagant house each of which totaling various different amounts some being as much as a hundred million dollars this 100 million lawsuit came about after austin hosted a boxing event by the name of social gloves the concept was pretty simple a bunch of different youtubers would fight a bunch of different tick tockers and then market it as youtube vs tick-tock boxing i will be fighting austin mcfarl that's him right there the event would make money through pay-per-view a method proven successful by the likes of logan and jake paul however austin mcbroom of the ace family set his expectations way too high he estimated that the boxing match would earn a total of between 200 and 500 million dollars however on the day of the anticipated event it would sell only a hundred and thirty six thousand pay-per-view subscriptions which at between fifty dollars and ninety dollars each totaled an absolute maximum of twelve million dollars for this reason those who fought in the event failed to receive payment for their participation and began to file subsequent lawsuits one after the other against austin mcbroom none of the fighters have been paid nobody's been paid nobody knows what's going on apparently they were planning on selling 500 000 subscriptions they only sold a hundred thousand they've made nowhere near enough money a company by the name of live x live hired by mcbroom to help promote and run the event would state that the mcbrooms and their entire approach to this event was built upon a stack of lies followed by the filing of the previously mentioned hundred million dollar lawsuit for damaging their company's reputation with such a bad event austin mcbroom's lawyers would state in light of the apparent underperformance of the event our firm has been retained to represent mcbroom in connection with either a workout of the claims of all its creditors or if a workout is not feasible a likely bankruptcy filing to add another two cherries on top of the cake catherine was then sued for 30 million dollars for dodgy business practices relating to her makeup line all while the ace family's youtube channel has been declining in viewership extremely rapidly in the three months between june 2020 and september 2020 they went from an average of 105 million views per month to an average of 35 million views per month which has since dropped even further with the ace family being unable to crack even the 10 million view mark over the last 30 days with all this in mind it was barely a surprise to discover that their 10 million home was going into foreclosure for failure to pay the mortgage when asked about the foreclosure catherine would state that it wasn't true okay captain there's a lot of rumors that uh your house is getting foreclosed what do you have to say about that it's not true it's not true no thank you okay you're welcome while austin would make a post on instagram stating stop capping on me and my family's name ain't nobody getting evicted ain't nobody moving stop leaving everything you see the haters say on the internet if we were moving we definitely would have informed the world and made a whole youtube video about it have a good rest of your day however as stated by youtuber sloane the ace family could say whatever they wanted court documents confirmed that the property was in fact going into foreclosure so when katherine is out about saying that you know her home isn't foreclosed when asked this document is proof that yes the home was foreclosed it's now owned by the bank and catherine can lie all she wants but the records don't lie a youtuber by the name of static john would even attend the foreclosure auction however the property failed to sell for the nine million dollar price tag and has since been purchased by another party for substantially less than the original asking price according to cody ko i know the guy who bought it yeah it was just weird coincidence i was with him last night and he was like he said we bought a problematic house and i was like what house and he's like i don't know some youtuber he did some boxing thing and i was like awesome mcbroom he was like yeah yeah crazy they got taken for a ride when they built it spent way too much money on it and now it's in this area that the other like the next most expensive house is two and a half million dollars so no one wants to buy this 10 million dollar house right so it's not worth anything close to that so they picked it up like for cheap from the loan company and i guess they're gonna try there's something that's just universally satisfying about seeing the ace family's empire crumble maybe it was because we could sense that it was to some extent built on lies and therefore it feels as though we've witnessed an example of karma to see it all come to a messy end austin and catherine mcbroom built their empire on sand with debt with lies and with most important of all ego the ace family's need to maintain a public image as a happy problem-free family was the basis for all their success but was simultaneously the reason for their catastrophic fall

Channel: SunnyV2

Views: 8,738,533

Keywords: ace family foreclosure, ace family eviction, ace family house tour, ace family house, ace family drama, austin mcbroom lawsuit, austin mcbroom, social gloves, catherine mcbroom channel, catherine mcbroom lawsuit, catherine mcbroom makeup, catherine mcbroom skin care, mcbroom family drama, mcbroom family broke, mcbroom family house, the ace family drama, foreclosure, house foreclosure, real estate investing, hard money, hard money loans, real estate, hard money lender

Id: XvPMCzPxYgc

Length: 16min 17sec (977 seconds)

Published: Fri Nov 26 2021