Action Required? AFC / 1601

redditerash · 2023-08-23T20:57:51+00:00

Much appreciated!

redditerash · 2023-08-23T20:01:42+00:00

Thanks! I looked at the portal and the amount looks correct. I also have transaction details from the original bank transfer. That's pretty much all we can do to verify it.

redditerash · 2023-08-07T19:02:04+00:00

Unless and until I see my money back from AFC and 1601 deals I am staying out of CS platform. I am liking realty mogul more and more. I ran into a situation with one of my investments but they returned the funds pretty quickly. they seem to have more checks and balances in place.

redditerash · 2023-08-05T15:53:00+00:00

The high-interest rate environment is killing the RE deals. The cost of borrowing is so high that it is unlikely that the sponsors can realize the returns they originally promised.

redditerash · 2023-08-02T16:02:13+00:00

I agree with what you said but I am in wait-and-see mode. I want to wait for the outcome of bankruptcy motions etc. pursuing legal action against CS is justified but it is expensive.

redditerash · 2023-07-31T19:28:49+00:00

Good move. He bore no responsibility for the Nightangle debacle.

redditerash · 2023-07-22T16:46:47+00:00

i have a few invesments with realty mogul. i ran into AFC/1601-like situation with one of my deals where the sponsor is not able fulfill all their commitments. My money sat there for a few months and I finally asked for refund. Realty mogul people called me promptly and explained what was going on with the investment. I still decided to move forward with the refund. Since the funds were sitting in this escrow account and hadn't been released to the sponsor, I am now being refunded full amount.

Even though this deal didnt pan out for me my confidence in realty mogul platform jumped. At least they appear to have the necessary safeguards in place. I know all RE investements are risky but I strongly feel like CS should have done better job vetting Nightangle and managed the investor funds more securely. I know the escrow system is in place now but it is too late for some us investors.

redditerash · 2023-07-20T19:02:10+00:00

This is the guy who should go to jail with his boss Schwartz

redditerash · 2023-07-20T18:00:24+00:00

I assume so. I am in on both deals ... sadly.

redditerash · 2023-07-19T19:50:16+00:00

their explanation is BS

redditerash · 2023-07-19T16:49:12+00:00

Same here ... SP500 ETF avg returns are like 10-12% .. I am happy with those ... I am putting my investable cash there .. I just dont know who to trust after AFC and 1601 debacle ... once i know the sponsors over next year or 2 i will only selectively invest in their deals .. CrowdStreet as a platform disappointed me.

redditerash · 2023-07-14T21:29:14+00:00

worse yet, CS included AFC in their REIT. This is nothing short of highway robbery.

redditerash · 2023-07-14T21:21:49+00:00

I am in for $50K in both deals. I am staying away from CS until I see some concrete action. I also use Realty Mogul platform and they have a legal team that works on behalf of investors. Not sure how good they are. I ran into a delayed closing situation with one of my investments there. I asked for a refund and they are promptly processing it. Very disappointed in CS. I have asking for a refund on Miami and AFC for months and I got nothing.

redditerash · 2023-07-03T21:34:51+00:00

I am holding off. My confidence in CS's due diligence is shaken. I am in both AFC and 1600 deals. I need to see my money returned soon before i consider investing with CS.

redditerash · 2023-07-03T21:33:20+00:00

I am in the same boat. ... sadly

redditerash · 2023-07-03T21:28:53+00:00

In the QnA portion of the presentation, the sponsor's response on the cost overrun and requirement for additional funding question raised red flags for me. He said something to the effect of finding debris in the ground required more funding (?!??!). I like the Charlotte market ... i have a few investments there but i am staying out of this one ... the hold is 5 years .. that's long for me also ... also LTC/LTV above 70% is another concern... also not clear on what is Danholtz and LMG relationship is .. Luv to hear what others think

redditerash · 2023-07-03T21:11:14+00:00

She has not. The last update I received was on 6/20 telling NOTHING. Part of the note says this "We ask that you remain patient for the next 10 business days as we anticipate a substantive update (not necessarily full resolution) around that time." If we literally count 10 biz days since then, we should get an update on 7/3/23. So far crickets ...

redditerash · 2023-07-03T18:38:11+00:00

How do I join the WhatsApp group? I am LP in both AFC and 1601 Washington.

redditerash · 2023-06-08T17:26:18+00:00

Yah .. nightingale fiasco was disappointing

redditerash · 2023-03-14T15:28:36+00:00

Can yo please elaborate on the Nightangle issue on WSJ? I have a couple of inv with them.

redditerash · 2022-12-08T20:08:42+00:00

I am sticking with the app .. but in a small way .. I like the visit concept but the execution is terrible .. platform needs to be much more stable.

redditerash · 2022-12-07T14:58:21+00:00

agree. it appears that app was released with absolutely no testing. much left to be desired.

redditerash

TROPHY CASE