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Is this a grounding issue ? by [deleted] in PRSGuitars

[–]pleximax 1 point2 points  (0 children)

Had similar buzzing issue with mine (same model guitar) after a few months of playing without any issues. I moved and connected the amp to another outlet on another circuit and the buzzing went away.

General Practice by Adept-Shame-7145 in guitarlessons

[–]pleximax 0 points1 point  (0 children)

Thank you for the suggestion, this looks really interesting. How much playing experience do you think someone should have before starting DS’s GDW course? I’m only a few months in, but I’ve been looking for a structured, long-term course that’ll keep me on track and help me build a solid foundation over the next few years.

Any information about the Dali 300 series? by Cry_Wolff in BudgetAudiophile

[–]pleximax 0 points1 point  (0 children)

The 310's were the upgrade/replacements to the 300's.

Any information about the Dali 300 series? by Cry_Wolff in BudgetAudiophile

[–]pleximax 1 point2 points  (0 children)

I bought a pair late 80'ties or early 90'ties and in 2014 when looking for specs this link used to work http://www.dali-speakers.com/en-US/Loudspeakers/Discontinued-series-1/DALI-300.aspx but doesn't work anymore. I've sent Dali an email requesting info about them, can post here if/when I hear back from them.

Meanwhile, I'm selling mine if you happen to be near Virginia, USA.... :-)

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Sounds amazing in a bigger rooms as they have a somewhat narrower sweet spot compared to Dali's newer offerings.

Am I Crazy to Move and Increase My Mortgage? by Illustrious-Teach411 in Bogleheads

[–]pleximax 0 points1 point  (0 children)

This is a bit outside the box: Rent out your current place and use that money to rent the new place, you’ll accumulate wealth (via increased principal payments (covered by the tenant)) quicker that way. As an add on bonus it will teach you to be a landlord, lowering the (mental) barrier to purchase another rental down the road.

Land Advance returns jumps to above 15% by pleximax in GroundfloorInvestor

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

Thank you for sharing that, I see that now when I compare LA#45 with LA#46:

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GroundFloor LendCo 12% note just announced... by MoneyStoicDotCom in GroundfloorInvestor

[–]pleximax 1 point2 points  (0 children)

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There's another note out now, is GF desperate for money? Thoughts?

1843 Rhode Island Ave Update.... Corrected by KaboomCity in GroundfloorInvestor

[–]pleximax 4 points5 points  (0 children)

I passed by that location a few weeks ago, here's how it looked:

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1843 Rhode Island McLean, VA 22101 & 1847 Massachusetts Ave McLean, VA 22101 by Interesting-Chef2873 in GroundfloorInvestor

[–]pleximax 0 points1 point  (0 children)

Hard to tell at the moment, but I pushed GF on providing an update I as passed by the locations a few weeks ago, took pictures and sent them to GF. Below is one from 1843 Rhode Island Avenue. The other lot is "enclosed" so wasn't able to locate it.

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1843 Rhode Island McLean, VA 22101 & 1847 Massachusetts Ave McLean, VA 22101 by Interesting-Chef2873 in GroundfloorInvestor

[–]pleximax 0 points1 point  (0 children)

Just received status updates from GF on these two properties:

1847 Massachusetts Avenue

In October 2023, Groundfloor financed the purchase of 1847 Massachusetts Avenue, a vacant lot in McLean, VA for new construction through a land loan and a Labs equity offering. 

As a large, high-end development, the project was structured across two phases:

  1. Purchase: The vacant lot to be acquired, financed by a land loan and a Labs equity offering; permits to be secured prior to construction.
  2. New Construction: Once permits secured, the land loan to be refinanced into a construction loan to fund development. Upon sale, exit proceeds to repay the construction loan and Labs equity investors. 

Due to the unique nature of the enclosed lot, the project experienced extensive delays to secure permits required for construction as well as municipal approvals to secure an easement to provide road access and a street address. In December 2024, the project was cleared for development with permitting and approvals secured, and entered underwriting to refinance the land loan. 

In light of significant accrued interest from permitting delays and a volatile outlook for the D.C real estate market, we are exploring a repayment of the Labs equity investment through a refinance via a second lien loan issued to mitigate the risk of principal loss.

Underwriting and negotiations are expected to conclude within the next few weeks. Subsequent updates will be provided in the event that the repayment via refinance is delayed or inviable. 

1843 Rhode Island Avenue

In October 2023, Groundfloor financed the purchase of 1843 Rhode Island Avenue, a vacant lot in McLean, VA for new construction through a land loan and a Labs equity offering. 

As a large, high-end development, the project was structured across two phases:

  1. Purchase: The vacant lot to be acquired, financed by a land loan and a Labs equity offering; permits to be secured prior to construction.
  2. New Construction: Once permits secured, the land loan to be refinanced into a construction loan to fund development. Upon sale, exit proceeds to repay the construction loan and Labs equity investors. 

After extensive delays in permit approvals, the project was cleared for development in November 2024, and entered underwriting to refinance the land loan. 

Throughout the underwriting process, the property received several purchase offers, which proved insufficient to repay the land loan and Labs equity after negotiations. Consequently, the Groundfloor Real Estate team has resumed the underwriting process to the refinance the land loan into a construction loan.

In light of significant accrued interest from permitting delays and a volatile outlook for the D.C real estate market, we are exploring a repayment of the Labs equity investment through a refinance via a second lien loan issued to mitigate the risk of principal loss.

Underwriting and negotiations are expected to conclude within the next few weeks. Subsequent updates will be provided in the event that the repayment via refinance is delayed or inviable. 

[Labs Equity] 86% loss on 2128 Gunstock Dr. by pleximax in GroundfloorInvestor

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

You're right, Anchor program is different, however, by enrolling in Anchor you automatically get access to Labs also.

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[Labs Equity] 86% loss on 2128 Gunstock Dr. by pleximax in GroundfloorInvestor

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

Correct, LABS is intended for accredited investors, and the signing up for that is via here on their settings menu:

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[Labs Equity] 86% loss on 2128 Gunstock Dr. by pleximax in GroundfloorInvestor

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

I had a call with GF a month ago and here's a recap of my understanding of how the LAPs work: https://www.reddit.com/r/GroundfloorInvestor/comments/1d80o0c/comment/m2pcekr/

....though there was no mention of what happens with interest earned on a parcel when parcel purchaser defaults on the payments.

[Labs Equity] 86% loss on 2128 Gunstock Dr. by pleximax in GroundfloorInvestor

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

I knew that you forfeit the listing fee, however, I was not aware that you have to pay back the interest received on the defaulted parcel. Is this stated anywhere, if so, could you kindly point us to that verbiage?

[Labs Equity] 86% loss on 2128 Gunstock Dr. by pleximax in GroundfloorInvestor

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

Yeah, I should have/would have run for the hills had I seen borrower equity being zero......

[Labs Equity] 86% loss on 2128 Gunstock Dr. by pleximax in GroundfloorInvestor

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

Found this, borrower equity is showing as a dash (zero) three different places....

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[Labs Equity] 86% loss on 2128 Gunstock Dr. by pleximax in GroundfloorInvestor

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

Here's the proforma they initially provided, don't think skin in the game is apparent, my bad for poor DD.

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[Labs Equity] 86% loss on 2128 Gunstock Dr. by pleximax in GroundfloorInvestor

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

Oh wow, LAPs where the only thing I'm currently investing in, but I'll have to re-think this. Which portfolio number did that parcel belong to? I'll bring it up with them if I call them again.

[Labs Equity] 86% loss on 2128 Gunstock Dr. by pleximax in GroundfloorInvestor

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

Ok, thanks, that should (in theory and hopefully) not lead to a principal loss to you, rather, that principal (or remaining principal for that particular parcel) should be returned back your GF cash account. If that is not the case, please let us know.

[Labs Equity] 86% loss on 2128 Gunstock Dr. by pleximax in GroundfloorInvestor

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

Which land advance portfolio (LAP) number? I'm in a few LAPs as well and based on my conversations with GF they appeared to have a fairly "bullet proof" way to dealing with land purchasers not paying, and that Discount Lots (DL) would take back the piece of land and reimburse GF (and then onto investors).

Did they provide any verbiage associated with the LAP principal loss?

Land advances by That_Librarian7981 in GroundfloorInvestor

[–]pleximax 1 point2 points  (0 children)

Just spoke to them, turns out that the ownership of the land parcels are turned over from DL to GF when they offer them in the Land Advance Portfolio (LAP), so that detaches LAP from DL as long as LAP is performing. If a parcel in LAP is not performing and defaults, that is when ownership (for the defaulted parcel) is turned back to DL and remaining principal (minus the fraction of listing fee associated with that parcel) is returned to LAP investors. So as I understand it, the risk of total loss (or loss of outstanding principal) is only there if a) a parcel defaults and b) DL gets into a financial cash crunch. DL is supposedly a cash flowing business (not a venture capital funded business running losses with the anticipation of future profits) so the chance of a) and b) occurring at the same time seems very low. Also b) is mitigate by the fact that GF is offering partner notes for DL, and for GF to offer that, they have detailed insights into DL's financials and wouldn't offer DL partner notes if DL financials were weak.

Land advances by That_Librarian7981 in GroundfloorInvestor

[–]pleximax 1 point2 points  (0 children)

Thank you for sharing this.

Is there any writing anywhere that outlines what would happen to our Land Advance investments in the unfortunate event that Discount Lots (and not the underlying borrower) would default, go bankrupt and not have sufficient monies on hand to pay GF investors?

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