I have debt investment with them that was supposed to be paid back late December. Have not received the payback nor any interest for the month. Anyone else having issues?
Yeah a number of payments from December missed. My hope is that there was a transition problem in December combined with holidays and they will catch up on missed payments. My fear is something worse is brewing...
I don't trust it either....very disappointed in them
In same situation with regard to RS. Debt investment maturity was Dec 2018, crickets from RS despite emails (which is the only way to contact them). Cannot reach sponsor, literally no communication on investments in place. Considering legal path to get the clear read on these, will share what I find as well.
Lot of folks are disappointed with RS as there hasn't been any communication and very few distributions since November. Please follow the more extensive thread below related to RS issues:
I have two investments that are failing.. do you guys have these duds?
1. 86 Sugarloaf Single Family - property sold to first lien. Nothing left for RS investors. RS was supposed to pursue the personal guarantee but the trail is lost.
2. 405 Alberto Way Office - lost contact with Lamb Partners
I have 5 others that hopefully will return their principles back :'(
I have the same concerns about, and the same utter lack of communication from, my fund's sponsor, Bulldog Capital. I have tried reaching out by phone, email, Facebook Messenger, and LinkedIn. If I had to guess (and I do, because the people with actual information aren't sharing it) I'd say they are exploiting the confusion surrounding RS to walk away with capital. RS has succeeded in funneling large amounts of money, from large numbers of investors, to crooks. Nicely done. I am beginning to prepare a lawsuit and would like to hear from other Bulldog Capital investors.
Update 3/11/19: I received the following from Juan Carlos Zapata at RS. I wouldn't call it informative but it indicates he has read and understood my questions, and it is grammatical enough to build a plausible narrative around. I remain perplexed and frustrated by the overall lack of communication, however, including the vagueness of such terms as "delicate," "careful," and "improve things."
Thank you for your email. We are transitioning to a third party Fund Administrator. While we believe this change will improve things going forward, the transition is delicate and we need to be very careful to make sure that distributions are correct.
I hope this context is helpful and that you understand that it is in the interest of investors to be careful on distributions, even if it results in delays. We apologize for the delayed response and appreciate your patience.
My investment also missed a month of interest payments, but they made it up the following month. On June 5 I received an email From Kip Sowden at "RREAF Holdings" indicating that they acquired RS's management platform "in a joint venture with IINTOO". It says that RREAF has 600+ investors from RS sponsored deals, and they are an ongoing owner/operator of multiffamily and hospitality/resort deals. Email says they are now "servicing your active positions through the RealtyShares platform to the best of our ability..."
--So it appears that they are the successor manager of the RS portfolio.
Did everybody here who has an active investment with RS received an email on June 5 from Kip Sowden, CEO of RREAF holding?
Email indicates that they acquired RS's management platform "in a joint venture with IINTOO". It says that RREAF has 600+ investors from RS sponsored deals, and they are an ongoing owner/operator of multifamily and hospitality/resort deals. Email says they are now "servicing your active positions through the RealtyShares platform to the best of our ability..."
If did not receive the email, let me know, and I can forward. Cheers, Nick
Anyone else receive any news?