EquityBuild has been taken into receivership. Anyone with info?

[William Tong]

Does anyone know what is happening with EquityBuild?  It is in Receivership by the SEC.  What does this mean for investors?

[Jay Hinrichs]

Originally posted by @Account Closed:

https://www.housingwire.com/articles/46567-sec-shu...

really nothing good

YUP  this is bad news for all involved..  from the documents a few BP folks sent to me a few years ago. it looked like they were investing in multi beneficiary mortgages IE multiple investors in a fractionalized mortgage.. which can be argued is a security .. 

in CA they are quite common but you have a specific disclosure document that must be filled out by a real estate broker .. it lets you know who the co investors are.. which is really the rub here.. none of these folks know each other.. and of course this is always the rub in a pooled syndicated investment that goes south.. 

And of course greed had a big part in this greed on the part of the investors we were in a 1% interest rate or less at banks and these guys were offering 15 to 20% interest on notes..  so the investors do need to look in the mirror here.. I suspect most did not really understand how the transactions were set up and what there risks were.. I suspect many just focused on the return..