Author Topic: Time for some proper due diligence/ independent auditing in our communities  (Read 229970 times)

Offline yfr bachur

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Sep 2018
  • Posts: 1754
  • Total likes: 1975
  • DansDeals.com Hat Tips 2
  • Gender: Male
    • View Profile
  • Location: Yerusholayim -> נחליאל
When things were great no one cared..

Wasn't it a tightening market that brought BM down?

Offline knowitall

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Dec 2013
  • Posts: 766
  • Total likes: 211
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: 08701
When things were great no one cared..
I’m sure many investors would have cared then too if they knew.
If someone who’s holding your money is lying to you and stealing from you, most people would care, even if they were getting distributions.

Offline elimmm

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Apr 2015
  • Posts: 783
  • Total likes: 93
  • DansDeals.com Hat Tips 0
    • View Profile
was the MCA ponzi confirmed as well? is there money left or it all vanished?

Offline gubevo18

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Apr 2014
  • Posts: 1108
  • Total likes: 99
  • DansDeals.com Hat Tips 1
  • Gender: Male
    • View Profile
  • Location: here
I’m sure many investors would have cared then too if they knew.
If someone who’s holding your money is lying to you and stealing from you, most people would care, even if they were getting distributions.
Exactly. his post should be "when no one cared to to look" since they were receiving fine distributions.

Offline Fish Tank

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Feb 2012
  • Posts: 916
  • Total likes: 177
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: NJ
Another option is for them to get avise from someone who is not an amateur similar to hiring an investment advisor.
Investment advisor may not know the ins and outs of RE. They just know that "it's riskier than other investments".

Offline Fish Tank

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Feb 2012
  • Posts: 916
  • Total likes: 177
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: NJ
Wow! So many apparently savvy guys on this forum just assumed that 20% appreciation would equal 100% return on the investment since it’s leveraged 5x without considering the points above. Imagine investors who aren’t savvy and well versed in finance.
If this is true then what is really needed is a prospectus in plain English mapping out examples of various scenarios.
For example:

This investment is not guaranteed. You may lose your entire principal if this investment does not perform as anticipated.

If this property were to sell in 5 years at the 10M purchase price the syndicator will make $200,000 in acquisitions fees. Investors will lose approximately 15% of their invested capital.

If this property sells for 12 million in 5 years the syndicator will make approximately $700,000. Investors will earn a total return of approximately 15% on their invested capital, or approximately 3% annually.

If this property were to sell for 15 million in 5 years the syndicator will make approximations 3 million and investors will earn a total return of 35% or 7% annually.

If the property doubles and sells for 20 million after 5 years the syndicator will make approximately 4.5 million and investors will earn approximately 120% on their investment or 24% annually.

Etc.
(These numbers are extrapolated from the above post.) These numbers would give potential investors a dose of reality of what to expect under various scenarios.
What about the quarterly distributions?

Offline dm123

  • Dansdeals Platinum Elite
  • ****
  • Join Date: Nov 2018
  • Posts: 453
  • Total likes: 443
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: United States
What about the quarterly distributions?

I imagine he assumes none as:

I’m assuming it went to debt service?




Offline chevron

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Dec 2013
  • Posts: 2634
  • Total likes: 566
  • DansDeals.com Hat Tips 2
    • View Profile
I’m sure many investors would have cared then too if they knew.
If someone who’s holding your money is lying to you and stealing from you, most people would care, even if they were getting distributions.

Well it's a much bigger deal now because if you have losses at this point instead of having say 25k more payouts when things were good. That 25k is a massive deal.

People are always going to examine with a microscope when things go wrong...

Online YitzyS

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jan 2015
  • Posts: 6012
  • Total likes: 15388
  • DansDeals.com Hat Tips 34
  • Gender: Male
    • View Profile
  • Location: Lakewood, NJ
Reading this thread makes me thank Hashem that I'm poor enough to not have to worry about these things...  ;D
Am I supposed to feel good about the fact that so far 11 people have "liked" that I am so poor?     :)

Offline Euclid

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jun 2010
  • Posts: 5352
  • Total likes: 6768
  • DansDeals.com Hat Tips 6
    • View Profile
Am I supposed to feel good about the fact that so far 11 people have "liked" that I am so poor?     :)
It's a catch 22. If you get likes then you wont be poor

Online Yehudaa

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Mar 2018
  • Posts: 3998
  • Total likes: 3086
  • DansDeals.com Hat Tips 111
    • View Profile
Am I supposed to feel good about the fact that so far 11 people have "liked" that I am so poor?     :)

1. You're 11 likes richer now.
2. See #3 here.
3. See #7 there.

Offline AsherO

  • Global Moderator
  • Dansdeals Lifetime 25K Presidential Platinum Elite
  • **********
  • Join Date: May 2008
  • Posts: 32066
  • Total likes: 8929
  • DansDeals.com Hat Tips 79
    • View Profile
  • Location: NYC
Am I supposed to feel good about the fact that so far 11 people have "liked" that I am so poor?     :)

איזהו עשיר - השמח בחלייקו
DDF FFB (Forum From Birth)

Offline AMH

  • Dansdeals Platinum Elite
  • ****
  • Join Date: Mar 2022
  • Posts: 480
  • Total likes: 426
  • DansDeals.com Hat Tips 2
  • Gender: Male
    • View Profile
  • Programs: UA Platinum,Star Alliance Gold, Avis President's Club, Hertz President's circle, Europcar privilege Elite, Marriot Gold
Am I supposed to feel good about the fact that so far 12 people have "liked" that I am so poor?     :)

FTFY

Good way to get people to go back and see that post(and get more likes)

BTW sale of DDF likes is forbidden so not sure where 11 likes richer will get you.
👆 אהבת חינם

Offline AsherO

  • Global Moderator
  • Dansdeals Lifetime 25K Presidential Platinum Elite
  • **********
  • Join Date: May 2008
  • Posts: 32066
  • Total likes: 8929
  • DansDeals.com Hat Tips 79
    • View Profile
  • Location: NYC
BTW sale of DDF likes is forbidden so not sure where 11 likes richer will get you.

Fried likes are delicious, who would ever sell that instead of feeding it to their kids?
DDF FFB (Forum From Birth)

Offline Lurker

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jul 2019
  • Posts: 5141
  • Total likes: 6404
  • DansDeals.com Hat Tips 2
    • View Profile
  • Location: As always, silence is NOT an admission of agreement on DDF. It just means that people lack the stamina to keep on arguing with made up "facts", illogical arguments, deceiving statements, nasty and degrading comments, and fuzzy math. - @yelped
BTW sale of DDF likes is forbidden

Source?
Failing at maintaining Lurker status.

Offline Euclid

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jun 2010
  • Posts: 5352
  • Total likes: 6768
  • DansDeals.com Hat Tips 6
    • View Profile
Fried likes are delicious, who would ever sell that instead of feeding it to their kids?
Only if they're unsweetened

Offline AMH

  • Dansdeals Platinum Elite
  • ****
  • Join Date: Mar 2022
  • Posts: 480
  • Total likes: 426
  • DansDeals.com Hat Tips 2
  • Gender: Male
    • View Profile
  • Programs: UA Platinum,Star Alliance Gold, Avis President's Club, Hertz President's circle, Europcar privilege Elite, Marriot Gold
Source?

Well seems like @AsherO has found a way to cash out on likes.

But still not sure about selling received likes.
👆 אהבת חינם

Offline AMH

  • Dansdeals Platinum Elite
  • ****
  • Join Date: Mar 2022
  • Posts: 480
  • Total likes: 426
  • DansDeals.com Hat Tips 2
  • Gender: Male
    • View Profile
  • Programs: UA Platinum,Star Alliance Gold, Avis President's Club, Hertz President's circle, Europcar privilege Elite, Marriot Gold
Only if they're unsweetened

Well all depends on what the kids like......
👆 אהבת חינם

Offline aygart

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: May 2008
  • Posts: 19735
  • Total likes: 16312
  • DansDeals.com Hat Tips 14
    • View Profile
    • Lower Watt Energy Brokers
  • Programs: www.lowerwatt.com
Fried likes are delicious, who would ever sell that instead of feeding it to their kids?
Someone who



think almost any weightloss reason is more 'serious' than most any travel reason

Feelings don't care about your facts

Offline Essen est zich

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Apr 2017
  • Posts: 2640
  • Total likes: 966
  • DansDeals.com Hat Tips 60
    • View Profile
  • Programs: Nichoach Vol 2
I dont know if this is the right thread...

A nice attack by the NY Post. It seems theyre always extreme, either to the right or to the left on certain issues.

https://nypost.com/2023/06/08/brooklyn-rabbi-slammed-with-voter-fraud-accusations-in-catskills/
Shloffen Shloft Zich