Recent Posts

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31
It would certainly be nice if they gave some type of update. It's been around 1.5 months since we've heard anything.
32
Has anyone received any tax documents or updates regarding timing of the K-1’s?

No, I haven't received any of my 4 K-1s.

Me either and simply assuming it'll be another required extension year.

Only RS/IRM missing them, yet again. My other sites have delivered pretty much all of them by now.
33
Do you get the cable channel AWE - "A Wealth of Entertainment"?

Started watching a few shows there, and has resulted in plenty of ideas for spending:
- Dream Cruises - luxury european cruises
- Boys  Toys - fancy cars, etc

give it a try, haha
34
Has anyone received any tax documents or updates regarding timing of the K-1’s?

No, I haven't received any of my 4 K-1s.
35
Has anyone received any tax documents or updates regarding timing of the K-1’s?
36
Taxes / Tax Planning
« Last post by teeta on April 07, 2021, 02:17:49 PM »
Greetings all! Hope all is well. 

Just curious at what point (income level) do you guys using CPA or tax strategist to optimize your taxes.  I've been doing my own taxes for years so i have a decent knowledge but always wanted to have a second set of eyes that could better my tax situation.  Many thanks in advance!
37

Hello All,

No news in this case really is just that. No news. IRM continues to drag its feet with yarns about lost documents and the like. Apparently now the documents have been found. Its a miracle!!

Meanwhile our money is basically dead.

How would you react if someone called you on the phone and said : " Hey, send me XXX amount of dollars in and in 3 or 5 years, if your lucky, I will send you your own money back. "   

BTW : Little to no interest from the legal community about chasing some of these scumbags down. Ian at the Law Firm in Boston says that case not going well. May not move forward at all.  Other attorneys showing zero interest in pursuing the sleazeballs who stole our money from the naive children we gave it too.

Once again : If you know anyone who is in law enforcement at any level......even better in a district attorneys office // DOJ// SEC // Postal Inspector......make sure that you tell them about this situation.   The only way that we are ever going to get any "justice" is going to be if someone with a badge and gun shows up at the RS / IRM offices and says :

"We need to see the files." 

Even then its doubtful this will help us get our money back........but at least someone will be made to answer for their actions. If the Fed can put Charles Keating in jail for being a bad banker.....then some people at RS can be held accountable. 

Best of luck to all.


38
I was going to suggest a car, but you've got that covered.  Great choice!

My wife and I are in our late 40s and approaching financial independence.  We have had a traditional path through staying employed and saving diligently.  My wife missed a couple of years working, since our son had many medical issues when he was born (6 months in the NICU, long story).  No real side hustles, although I've started blogging as a hobby for now.

We max out our 401ks, contribute to our Roths through the back door, and invest in an after tax brokerage account and Fundrise.  We aren't as thrifty as we could be, and enjoy driving new cars (Audi Q7 for her and a BMW m340xi for me).  We also splurge on family vacations with our family, renting a home on Cape Cod MA for a week on or near the ocean.  We've also taken family vacations to Disney and would like to go to the Caribbean once things get a little more normal. Maybe even some time with just the wife and I now that our kids are older!  We put a lot on hold when our kids were young and due to the health complications.

I do like some electronics and will splurge on a new OLED tv soon too, but also planning on more time in Retirement for hobbies like learning French, guitar, mountain biking, trying to workout, etc.  These activities don't require too much money, but could definitely spend too much on a mountain bike. 
39
I find it sneaky that I did not get some email from Realtyshares indicating there was an update. Instead, when I was checking to see if there were some tax documents I needed, I saw there was a more recent notification near the end of February on a pdf file. I think they turned off the email setting to notify people. It said:

"IRM has been able to obtain the original Franchise Growth loan documents from a storage location
in California. The files are safely in our offices in Dallas and are being reviewed by the legal team.
Upon first glance, the documents appear to be in perfect condition and properly labeled. We expect
the transaction for the sale of all portfolio properties to continue and hope to share more information
with you shortly.
The sale of the Franchise Growth notes is being done on a case by case basis, and updates with
expected returns will be sent to investors in each project, individually, as they become available"


Congratulations realtyshares. You found the loan docs.....Go GME!

I just checked and same for me.  Not a very official looking update but appears to be positive news.  Fingers crossed.
40
I find it sneaky that I did not get some email from Realtyshares indicating there was an update. Instead, when I was checking to see if there were some tax documents I needed, I saw there was a more recent notification near the end of February on a pdf file. I think they turned off the email setting to notify people. It said:

"IRM has been able to obtain the original Franchise Growth loan documents from a storage location
in California. The files are safely in our offices in Dallas and are being reviewed by the legal team.
Upon first glance, the documents appear to be in perfect condition and properly labeled. We expect
the transaction for the sale of all portfolio properties to continue and hope to share more information
with you shortly.
The sale of the Franchise Growth notes is being done on a case by case basis, and updates with
expected returns will be sent to investors in each project, individually, as they become available"


Congratulations realtyshares. You found the loan docs.....Go GME!
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