Recent Posts

1

Travel / Which is the best country to visit natural vegetation?

« Last post by SteveGood on January 28, 2020, 10:53:02 PM »

Hi,

I like very much natural vegetation and birds. Which is the best country to visit the natural vegetation and birds?.

What are the formalities we follow to visit that country?

2

Real Estate Crowdfunding / Re: Thoughts On RealtyShares Closing Its Doors To New Investors

« Last post by babets on January 28, 2020, 02:13:17 PM »

Here are two lawsuits currently:

https://www.businesswire.com/news/home/20200127005436/en/EQUITY-ALERT-ROSEN-TOP-RANKED-LAW-FIRM
https://www.prnewswire.com/news-releases/shapiro-haber--urmy-llp-announces-filing-of-a-class-action-lawsuit-against-realtyshares-inc-rs-lending-inc-and-others-300989140.html

More to follow. I encourage everyone to seek damages regardless of the profitability of such actions.

But if they are out of business and managing just existing deals, a lawsuit could just knock them out completely and damage also existing deals that are performing maybe, no?

The lawsuits wouldn't target IRM or any sponsors who are actively handling their deals; they go after previous RS principals and sponsors who have committed theft/fraud.

Any sponsor who is doing what they should be has nothing to worry about, nor do any of the investors in their property(ies).

Thank you. Are you recommending to join a lawsuit? I mean will we be excluded if a deal get fixed itself or we have nothing to lose in participating to class action?
Sorry i dont know anything about law...

3

Real Estate Crowdfunding / Re: Thoughts On RealtyShares Closing Its Doors To New Investors

« Last post by JD on January 28, 2020, 01:12:09 PM »

Here are two lawsuits currently:

https://www.businesswire.com/news/home/20200127005436/en/EQUITY-ALERT-ROSEN-TOP-RANKED-LAW-FIRM
https://www.prnewswire.com/news-releases/shapiro-haber--urmy-llp-announces-filing-of-a-class-action-lawsuit-against-realtyshares-inc-rs-lending-inc-and-others-300989140.html

More to follow. I encourage everyone to seek damages regardless of the profitability of such actions.

But if they are out of business and managing just existing deals, a lawsuit could just knock them out completely and damage also existing deals that are performing maybe, no?

The lawsuits wouldn't target IRM or any sponsors who are actively handling their deals; they go after previous RS principals and sponsors who have committed theft/fraud.

Any sponsor who is doing what they should be has nothing to worry about, nor do any of the investors in their property(ies).

Incorrect, as you can see here for the parties being sued:

https://dockets.justia.com/docket/massachusetts/madce/1:2020cv10107/218112

In my instance, I understand the indemnification that IRM is attempting to hide behind however in one of the properties I am involved in they are severely mismanaging the case. They had the opportunity to litigate immediately when the developer missed their payment. Now the property is 2 months past due in paying their property tax liability and they've missed dividend payments for a long time.

One party has failed their payment obligations and another has failed in their attempts to collect payment and foolishly granted extensions without any evidence of repayment or goodwill other than the fact that the sponsor is responding to e-mails. These poorly managed extensions have exacerbated my losses.

If you were involved with LXR or Dutchints just know that I have $250k in checking liquid for potential attorney fees and I'm seeking counsel now so these two deals will get sticky soon. Getting the ball rolling in March, a bit later than expected but it's time to collect.

Oh wow, I hadn't realized IRM is in there as well - fair enough. Admittedly, I'm underwhelmed by what they've done so far but like groovy said, I'm not entirely sure it makes sense to go after them at this time.

It is good to have litigation in action though, wish it had happened sooner.

4

Real Estate Crowdfunding / Re: Thoughts On RealtyShares Closing Its Doors To New Investors

« Last post by groovydude on January 28, 2020, 11:13:00 AM »

Here are two lawsuits currently:

https://www.businesswire.com/news/home/20200127005436/en/EQUITY-ALERT-ROSEN-TOP-RANKED-LAW-FIRM
https://www.prnewswire.com/news-releases/shapiro-haber--urmy-llp-announces-filing-of-a-class-action-lawsuit-against-realtyshares-inc-rs-lending-inc-and-others-300989140.html

More to follow. I encourage everyone to seek damages regardless of the profitability of such actions.

But if they are out of business and managing just existing deals, a lawsuit could just knock them out completely and damage also existing deals that are performing maybe, no?

The lawsuits wouldn't target IRM or any sponsors who are actively handling their deals; they go after previous RS principals and sponsors who have committed theft/fraud.

Any sponsor who is doing what they should be has nothing to worry about, nor do any of the investors in their property(ies).

Incorrect, as you can see here for the parties being sued:

https://dockets.justia.com/docket/massachusetts/madce/1:2020cv10107/218112

In my instance, I understand the indemnification that IRM is attempting to hide behind however in one of the properties I am involved in they are severely mismanaging the case. They had the opportunity to litigate immediately when the developer missed their payment. Now the property is 2 months past due in paying their property tax liability and they've missed dividend payments for a long time.

One party has failed their payment obligations and another has failed in their attempts to collect payment and foolishly granted extensions without any evidence of repayment or goodwill other than the fact that the sponsor is responding to e-mails. These poorly managed extensions have exacerbated my losses.

If you were involved with LXR or Dutchints just know that I have $250k in checking liquid for potential attorney fees and I'm seeking counsel now so these two deals will get sticky soon. Getting the ball rolling in March, a bit later than expected but it's time to collect.

ReadyToSue89, how are you concluding that IRM is mismanaging your investment? I'm not defending them, but it seems that their defense will be that lawsuits are expensive and by contract the costs come out of investor's pockets, not theirs, so they are trying to exhaust all other options before litigation.

I'm all for suing the pants off of Nav Athwal and the other founders. Even RS lending. I think Nav belongs in jail too, I hope that someone can prove that he knew they were propping up horrible deals in order to raise more cash (ie fraud), but suing what's left of RS and IIRM Management seems counter productive at this point.

5

Real Estate Crowdfunding / Re: Thoughts On RealtyShares Closing Its Doors To New Investors

« Last post by ReadyToSue89 on January 28, 2020, 08:57:00 AM »

Here are two lawsuits currently:

https://www.businesswire.com/news/home/20200127005436/en/EQUITY-ALERT-ROSEN-TOP-RANKED-LAW-FIRM
https://www.prnewswire.com/news-releases/shapiro-haber--urmy-llp-announces-filing-of-a-class-action-lawsuit-against-realtyshares-inc-rs-lending-inc-and-others-300989140.html

More to follow. I encourage everyone to seek damages regardless of the profitability of such actions.

But if they are out of business and managing just existing deals, a lawsuit could just knock them out completely and damage also existing deals that are performing maybe, no?

The lawsuits wouldn't target IRM or any sponsors who are actively handling their deals; they go after previous RS principals and sponsors who have committed theft/fraud.

Any sponsor who is doing what they should be has nothing to worry about, nor do any of the investors in their property(ies).

Incorrect, as you can see here for the parties being sued:

https://dockets.justia.com/docket/massachusetts/madce/1:2020cv10107/218112

In my instance, I understand the indemnification that IRM is attempting to hide behind however in one of the properties I am involved in they are severely mismanaging the case. They had the opportunity to litigate immediately when the developer missed their payment. Now the property is 2 months past due in paying their property tax liability and they've missed dividend payments for a long time.

One party has failed their payment obligations and another has failed in their attempts to collect payment and foolishly granted extensions without any evidence of repayment or goodwill other than the fact that the sponsor is responding to e-mails. These poorly managed extensions have exacerbated my losses.

If you were involved with LXR or Dutchints just know that I have $250k in checking liquid for potential attorney fees and I'm seeking counsel now so these two deals will get sticky soon. Getting the ball rolling in March, a bit later than expected but it's time to collect.

6

Real Estate Crowdfunding / Re: Thoughts On RealtyShares Closing Its Doors To New Investors

« Last post by JD on January 28, 2020, 08:04:55 AM »

Anyone else in Vida on Valley and get today's update? It's definitely very concerning. Funded in late 2018, has never paid a cent in distributions, is unresponsive and hasn't provided quarterly updates since Q2 2019.

I looked up the sponsor, they have 3 Google Reviews - all 1-star, fairly recent - and all about how the sponsor doesn't pay their debts and is almost impossible to get hold of. Another one that seems should never have gotten a green light from RS.

7

Real Estate Crowdfunding / Re: Thoughts On RealtyShares Closing Its Doors To New Investors

« Last post by JD on January 28, 2020, 07:59:31 AM »

Here are two lawsuits currently:

https://www.businesswire.com/news/home/20200127005436/en/EQUITY-ALERT-ROSEN-TOP-RANKED-LAW-FIRM
https://www.prnewswire.com/news-releases/shapiro-haber--urmy-llp-announces-filing-of-a-class-action-lawsuit-against-realtyshares-inc-rs-lending-inc-and-others-300989140.html

More to follow. I encourage everyone to seek damages regardless of the profitability of such actions.

But if they are out of business and managing just existing deals, a lawsuit could just knock them out completely and damage also existing deals that are performing maybe, no?

The lawsuits wouldn't target IRM or any sponsors who are actively handling their deals; they go after previous RS principals and sponsors who have committed theft/fraud.

Any sponsor who is doing what they should be has nothing to worry about, nor do any of the investors in their property(ies).

8

Real Estate Crowdfunding / Re: Thoughts On RealtyShares Closing Its Doors To New Investors

« Last post by babets on January 28, 2020, 05:27:03 AM »

Here are two lawsuits currently:

https://www.businesswire.com/news/home/20200127005436/en/EQUITY-ALERT-ROSEN-TOP-RANKED-LAW-FIRM
https://www.prnewswire.com/news-releases/shapiro-haber--urmy-llp-announces-filing-of-a-class-action-lawsuit-against-realtyshares-inc-rs-lending-inc-and-others-300989140.html

More to follow. I encourage everyone to seek damages regardless of the profitability of such actions.

But if they are out of business and managing just existing deals, a lawsuit could just knock them out completely and damage also existing deals that are performing maybe, no?

9

Financial Independence Retire Early (FIRE) / Re: What has been more harmful on your journey to financial independence?

« Last post by SteveGood on January 27, 2020, 10:31:48 PM »

Hi,


I was faced with the harmful financially between the age of 22 to 25. Because at that time I don't have a job so I face this problem.

10

Managing And Investing In Physical Real Estate / Re: Latest Mortgage Rates

« Last post by Sam on January 27, 2020, 07:58:56 AM »

Those are great rates. Sounds like there will be no fees involved. Rates are collapsing today due to the coronavirus.