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Almost zero maintenance and charging at home means I always have a "full tank."
Just plain fun to drive. My wife and I fight over who gets the electric car and who has to drive the gas car.
Latest update on Franchise Growth:
"
The borrower (Franchise Growth) has elected to exercise their final extension of 30 days as per the agreement. The borrower has satisfied the required $35,000 non-refundable deposit to extend. The final extension expires on 8/29/2020. IRM does not plan to accept any additional extensions.
IRM has asked Franchise Growth for a status update of the asset sales. To date, no such update has been received. We estimate the chances of a sale at 50/50 with the other option still being foreclosure on all remaining assets.
"
Looks like we are on the final 30 day countdown. They have now put up $195,000 in non-refundable deposits.
It's going to be interesting to see if they can get a sale agreement closed out in the next 30 days. The cost of borrowing money is extremely cheap right now, and there's a lot of capital sloshing around... but I personally don't have much insight as to how fast food commercial real estate is doing right now. Not encouraging, although not surprising, they wouldn't give IRM any updates.
While I hope to lose as little (or none) as possible on my FS deals, I'm anxious for the saga with them to finally be over with. Even if foreclosure is in the cards, I'll be glad to not be waiting on updates from the FS folks.
Fingers crossed.
2020 is canceled folks, stay home.
Yep, I was in on Penbrook with this one, which forecasted a 14% IRR and promptly never distributed more than a few $10 payments. What a joke. How bad was RS’s scrutiny of these deals that so many failed right out of the gates? All said and done this was a 3 year investment that returned -4% for me. Could have been worse, but I sure wish I never heard the name Realtyshares in the first place. 1 deal down, 3 to go.I was on Penbrook too. On the dashboard, they are showing the distribution as earnings instead of return of capital. Just sent an email asking for that to be corrected.
Still waiting to see this corrected. It was the same for all 4 of my investments that were paid back so it needs to be rectified.
More importantly, today is the termination date for the FG restructure. It's concerning that we haven't heard anything about it yet, leading me to believe there will be a further extension (though that would have to have been finalized 5 days ago) or that the revised deal is unlikely to complete.
Either way, we should hear an update soon...
