Time for some proper due diligence/ independent auditing in our communities

[yfr bachur]

When things were great no one cared..

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

[knowitall]

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.

[elimmm]

was the MCA ponzi confirmed as well? is there money left or it all vanished?

[gubevo18]

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.

[Fish Tank]

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".

[Fish Tank]

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?

[dm123]

What about the quarterly distributions?

I imagine he assumes none as:

I’m assuming it went to debt service?

[chevron]

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...

[YitzyS]

Reading this thread makes me thank Hashem that I'm poor enough to not have to worry about these things... 

Am I supposed to feel good about the fact that so far 11 people have "liked" that I am so poor?     

[Euclid]

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

[Yehudaa]

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.

[AsherO]

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

[AMH]

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.

[AsherO]

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?

[Lurker]

BTW sale of DDF likes is forbidden

Source?

[Euclid]

Fried likes are delicious, who would ever sell that instead of feeding it to their kids?

Only if they're unsweetened

[AMH]

Source?

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

But still not sure about selling received likes.

[AMH]

Only if they're unsweetened

Well all depends on what the kids like......

[aygart]

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

[Essen est zich]

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/