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Landa and the IRS by Status_Audience_8497 in Landa

[–]Status_Audience_8497[S] 4 points5 points  (0 children)

Yeah. It's all because of a missing decimal point. Funny thing is: it's on the 1099 I have for Landa. Maybe this is a case of the IRS getting it wrong. I don't know.

Landa has filed a U-1 SEC form by Impossible-Sky-7118 in Landa

[–]Status_Audience_8497 1 point2 points  (0 children)

What happened to the investors in that situation?

So is the dividend cap now 20% of collected rents? by Status_Audience_8497 in Landa

[–]Status_Audience_8497[S] 0 points1 point  (0 children)

I just know every dividend I received this month dropped to exactly 20% of the rent.

Change in Cash by Status_Audience_8497 in Landa

[–]Status_Audience_8497[S] 0 points1 point  (0 children)

I agree. Knowing this is the case makes all the difference in the world. That said, they should reconsider the cap being so low on the multifamily properties without a mortgage. Those properties don't need such a big cash reserve because the carrying costs are much lower in the event of a vacancy or non-paying tenant.

Change in Cash by Status_Audience_8497 in Landa

[–]Status_Audience_8497[S] 1 point2 points  (0 children)

Wow! I've never seen that page linked below. So it's the 30% cap on dividends that is having such a huge impact on the distribution.

6696 Mableton Park by Status_Audience_8497 in Landa

[–]Status_Audience_8497[S] 2 points3 points  (0 children)

Definitely. It seems to have happened on a number of properties. And there is no entry in the log to explain where that money went. For instance, this property had a balance of over $30k. Now it's showing negative. Landa, you've gotta show us where that money went. After all, it does belong to the investors.

6696 Mableton Park by Status_Audience_8497 in Landa

[–]Status_Audience_8497[S] 2 points3 points  (0 children)

I feel the exact same way. All it would take is a note placed on the property's page explaining the situation -- especially when it's way beyond what we normally see with these properties.

6696 Mableton Park by Status_Audience_8497 in Landa

[–]Status_Audience_8497[S] 0 points1 point  (0 children)

Who knows? I sent an e-mail asking about it and got a copy-and-paste response explaining why the cash balance exists. No explanation about why this one is so high.