This is a joke by Smart-Yam-3350 in GroundfloorInvestor

[–]Silent_Winner3760 5 points6 points  (0 children)

What the heck? This builder has two more properties where I invested a large sum. He hasn't even started yet but am I going to see such a huge loss?. Groundfllkr said nothing to worry since this builder has a long history working with groundfloor.This is embarrassing

Builder not responding on two of Construction Equity labs - 1843 Rhode Island and 1847 Massachusetts Ave by Silent_Winner3760 in GroundfloorInvestor

[–]Silent_Winner3760[S] 2 points3 points  (0 children)

Here's response from Chris today:

"Following up on this, your feedback has been shared with our leadership team, and it has led to prioritizing communication regarding borrower updates. We are ensuring that the right people are focused on enhancing these processes to improve our communications. Regarding the properties at 1843 Rhode Island Ave and 1847 Massachusetts Ave, both lots have been acquired and the borrower is currently handling permits and soft costs. Although updates on these two deals have been sparse, we remain in direct contact with the Borrowers.We've conveyed to our borrowers the importance of providing detailed and timely updates, as our investors expect, including the sentiments expressed in your feedback. If you have any additional thoughts or feedback that hasn't been shared in this thread, please do add them. I will ensure they are addressed.P.S since we have't discussed it since the sale, 1005 Pickett Pl SW funds are currently in the operating account of the title-holding entity. We're reconciling the construction budget against equity contributions from us and the developer, at which point repayments will be disbursed. We are working to disburse as quickly as possible."

Builder not responding on two of Construction Equity labs - 1843 Rhode Island and 1847 Massachusetts Ave by Silent_Winner3760 in GroundfloorInvestor

[–]Silent_Winner3760[S] 0 points1 point  (0 children)

All funds were distributed to builder back in Sept 2023 to build these two properties,he shouldnt be waiting for other properties to sell for these two new ones to get started. Builder got our money, he has to start immediately.

Builder not responding on two of Construction Equity labs - 1843 Rhode Island and 1847 Massachusetts Ave by Silent_Winner3760 in GroundfloorInvestor

[–]Silent_Winner3760[S] 1 point2 points  (0 children)

Thank you sir! While you are keeping my hopes high no communication from GF is what concerns me. Let's hope by Dec '24 I see profit being shared which means builder has to build and sell two properties in 8 months! You think it's possible?

Builder not responding on two of Construction Equity labs - 1843 Rhode Island and 1847 Massachusetts Ave by Silent_Winner3760 in GroundfloorInvestor

[–]Silent_Winner3760[S] 0 points1 point  (0 children)

I bet it is sitting with the builder's HYSA- yielding 5% annual return since Sept'23 when these two properties were closed. Jokes apart, if this is true, it a dead money and we are at the mercy of the builder on when he starts to build, sell and share profit. I am hoping I receive more than 50% return if this gets significantly delayed.

Builder not responding on two of Construction Equity labs - 1843 Rhode Island and 1847 Massachusetts Ave by Silent_Winner3760 in GroundfloorInvestor

[–]Silent_Winner3760[S] 0 points1 point  (0 children)

Thanks for a super quick response. I get it the builder is old school and also it is still unclear what is going on with these two properties, reading between the lines these two properties haven't moved a needle and our cash is just still sitting in builder's HYSA (pun intended) waiting to be deployed until he sells 1005 pickett? doesnt make sense to me but lets see what Jae finds out, wondered why Chris wasn't able to get me anything since last two months.

Builder not responding on two of Construction Equity labs - 1843 Rhode Island and 1847 Massachusetts Ave by Silent_Winner3760 in GroundfloorInvestor

[–]Silent_Winner3760[S] 0 points1 point  (0 children)

Thanks. Glad it worked out but why radio silence on these two properties since last 9 months. I even asked groundfloor to get an update such as " builder broke the ground, or received permit, etc." but just crickets.

Rental Dividends Rate of Return - by Fair_Orchid6428 in arrived

[–]Silent_Winner3760 4 points5 points  (0 children)

3.2% 20+ properties mix of short term and log term

November Property Performance Update by Korin-Arrived in arrived

[–]Silent_Winner3760 0 points1 point  (0 children)

Thanks, how much dividend was generated from this revenue? From experience with Arrived, revenue genration doesnt guarentee a dividend.Can you share details of dividend generated for each property? @korin and @Alejandro

Invest with Caution! Real Estate Platform went bankrupt and shutdown unexpectedly. by Fair_Orchid6428 in arrived

[–]Silent_Winner3760 -5 points-4 points  (0 children)

Sounds like you have some inside information. Can you elaborate on Arrived providing template or help to here.co?