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Started by Sam, November 07, 2018, 11:29:29 AM
Quote from: Hindsight2020 on July 03, 2019, 06:29:55 AMThe major changes I see on the asset management side:1) Sponsor interaction seems to be much more active2) IRM didn't create these messes, so they have no problem abruptly telling us when we are screwed
Quote from: John_PVF on July 03, 2019, 06:24:43 AMJust received an email from the new manager (IRM) indicating that that K-1 postings would extend into July now. I checked on the dashboard and 2 that they previously posted have been reissued with drastically different numbers. Glad I didn't file any of my returns yet, now I'm thinking I should wait until right up to the deadline in case any other edits come through. No communication via email or dashboard notification that there were changes, so would have filed inaccurate returns if I hadn't checked. Suggest everyone checks their tax documents as well.Distributions have slowed to a crawl (last one was June 12), which I hope is due to them focusing 100% on getting K-1 issues sorted out. Still just one more data point that we aren't out of the woods yet on this whole thing.
Quote from: 1UnknownSubject on July 09, 2019, 02:04:30 PMWas on the FG call. The main person said that Coastal Florida Church's Chicken, Melbourne, FL, should be completed in August. However, I am not sure what that means for anyone invested in that specific deal. Anyone else hear what it would mean if it is completed? Probably still a near 100% loss at this point. Not super impressed with FG....they missed something.
Quote from: mspringer on July 09, 2019, 02:10:09 PMQuote from: 1UnknownSubject on July 09, 2019, 02:04:30 PMWas on the FG call. The main person said that Coastal Florida Church's Chicken, Melbourne, FL, should be completed in August. However, I am not sure what that means for anyone invested in that specific deal. Anyone else hear what it would mean if it is completed? Probably still a near 100% loss at this point. Not super impressed with FG....they missed something.I'm in Apopka, FL (Orlando) Church's, which he lumped in with yours. I took it to mean that by August it will be ready for GOALZ (I assume they are still onboard) to take over. Maybe it's wishful thinking but I would think that would lead to a near full recovery of funds. Perhaps minus the $350k still needed to finish and legal fees. To this point we have only gotten 2% back and I'm at the point where anything close to 100% would be really good.
Quote from: rrw2013 on July 09, 2019, 02:22:12 PMAlso, FG kept talking about finishing the projects but made no comment about how that would impact RS investor returns. There are appraisals. FG should show us if they sell all assets and return to investors, what does that look like. I assume that finishing some that are close may help, but for most probably not.How does one give money to 27 properties before verifying that they are doing nothing?
Quote from: ft2008 on July 07, 2019, 04:13:02 AMI have a quick question. These losses that some of us are seeing in investments with RS, can they be written off on our taxes against other capital gains etc??