General Real Estate Investing
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated 3 days ago, 11/29/2024
RAD Diversified SCAM ALERT!!!
Hello,
I Just wanted to give everyone a quick update on the RAD Diversified scandal that is currently unfolding. As of April 1, 2024, RAD Diversified (a REIT), has officially put a freeze on withdrawing any and all funds from the REIT. If I had to speculate, I would say they are facing some serious liquidity issues. Interestingly enough, I came across an article in the Philidelphia Inquirer that raised concerns about the REIT two years ago. It's pretty much spot on. Looks like your classic Ponzi scheme. It would appear good ole Dutch has been using new investor funds to pay liquidations i.e. robbing Peter to pay Paul. I guess the well has run dry.
I myself was duped into investing $5000 (unaccredited) into the fund and will now no longer be able to liquidate any portion of my shares. The URL provided above will take you to official statement that RAD has provided to the SEC. Personally, I doubt its authenticity, but that's the direct information I was provided with from Alexander Prock, as of one hour ago. I also know that RAD's accreditation with the BBB has been revoked due to the massive influx of similar complaints that have been pouring in since the official statement was released on April 1st, 2024.
I would strongly advise ALL BP members to stay far away from this scam. I highly doubt I will ever see my money again. I would sincerely hope that the SEC has begun looking into this and/or the FBI. And, by the way, Dutch Mendenhall the CEO of RAD, has been a member of the BP community now for several years so feel free to chime in bud. Below is a copy of the SEC statement. It really makes me sick that these scam artists run rampant while the SEC does absolutely nothing to combat the issues. Anyway, please feel free to do your own due diligence but it looks like we all got got.
"On April 1, 2024, the board of directors (the “Board") of RAD Diversified REIT, Inc. (the "Company”) decided, in accordance with the terms of its Share Redemption Program, to continue the temporary freeze of the Company’s redemption program. The Company will not process any pending requests that have not been redeemed as of February 1, 2024 nor will it accept any redemption requests after April 1, 2024. Pending redemption requests will remain in queue until the Company recommences the redemption program. The Board intends to reassess this decision to determine whether to recommence the redemption program or to continue to pause the redemption program no later than July 1, 2024."
Quote from @Stuart Udis:
@Dutch Mendenhall Your company just released a video of you touring your new office space. 5:34 into the video you discuss how important it is for you and Amy to finally have your own bathrooms in your executive offices separate from your staff. I am not personally invested in any of your offerings but this is not the message you should be sending right now with paused distributions
New Office Walkthrough | Downtown Tampa (youtube.com)
That's too bad. The intent was: a better environment for our people and cost savings.
Quote from @Jay Hinrichs:
Quote from @Jingjing Zou:
Quote from @Dutch Mendenhall:
Quote from @Arthur Crum:
Hello,
I Just wanted to give everyone a quick update on the RAD Diversified scandal that is currently unfolding. As of April 1, 2024, RAD Diversified (a REIT), has officially put a freeze on withdrawing any and all funds from the REIT. If I had to speculate, I would say they are facing some serious liquidity issues. Interestingly enough, I came across an article in the Philidelphia Inquirer that raised concerns about the REIT two years ago. It's pretty much spot on. Looks like your classic Ponzi scheme. It would appear good ole Dutch has been using new investor funds to pay liquidations i.e. robbing Peter to pay Paul. I guess the well has run dry.
I myself was duped into investing $5000 (unaccredited) into the fund and will now no longer be able to liquidate any portion of my shares. The URL provided above will take you to official statement that RAD has provided to the SEC. Personally, I doubt its authenticity, but that's the direct information I was provided with from Alexander Prock, as of one hour ago. I also know that RAD's accreditation with the BBB has been revoked due to the massive influx of similar complaints that have been pouring in since the official statement was released on April 1st, 2024.
I would strongly advise ALL BP members to stay far away from this scam. I highly doubt I will ever see my money again. I would sincerely hope that the SEC has begun looking into this and/or the FBI. And, by the way, Dutch Mendenhall the CEO of RAD, has been a member of the BP community now for several years so feel free to chime in bud. Below is a copy of the SEC statement. It really makes me sick that these scam artists run rampant while the SEC does absolutely nothing to combat the issues. Anyway, please feel free to do your own due diligence but it looks like we all got got.
"On April 1, 2024, the board of directors (the “Board") of RAD Diversified REIT, Inc. (the "Company”) decided, in accordance with the terms of its Share Redemption Program, to continue the temporary freeze of the Company’s redemption program. The Company will not process any pending requests that have not been redeemed as of February 1, 2024 nor will it accept any redemption requests after April 1, 2024. Pending redemption requests will remain in queue until the Company recommences the redemption program. The Board intends to reassess this decision to determine whether to recommence the redemption program or to continue to pause the redemption program no later than July 1, 2024."
Mr. Crum,
As a RADD investor, we value your business. Under careful consideration, The Board of Directors has decided to freeze all distributions and withdrawals for an additional 90 days. This decision has been made due to record-high interest rates and the worst Real Estate economy since 2008. Most importantly, to protect you, the investor.
In 90 days, the Board of Directors will reevaluate our cash position and decide if we will continue to recommence or continue to pause distributions. This will occur on/about 01 July 2024. I want you to know this is a good decision that has been made by our Executive board to protect your investment. We assure you, if you have been approved for a redemption/distribution, your approval will remain valid and remain in que for payment once the freeze is lifted.
The following link is to the 1U Amendment to our SEC Offering Circular and SEC Offering Circular itself.
https://www.sec.gov/Archives/edgar/data/1721469/000110465924043461/tm2411068d1_1u.htm
https://www.sec.gov/Archives/edgar/data/1721469/000110465922002821/tm222539d1_partiiandiii.htm
It’s vital to understand that the journey forward for us has a series of progressive steps:
1. The freeze, which is painful, is necessary for us to build reserves, pull equity, and meet commitments going forward.
2. Submitting all financials to auditors for REITs. RADD America has been submitted and RAD Diversified will follow soon.
3. Simultaneously improve our process and communication systems.
4. Portfolio loan against existing assets for immediate payment to investors. The loan is in process and through our financials and reserves we will achieve it.
We are a good company with incredibly hard-working people. We are going through a challenging time that will make us stronger. Capital invested is tied up in Real Estate and we will pull equity to take care of investors.
I highly recommend you read the SEC filing and the 1U Amendment. Additionally, as stated above, for additional questions please contact [email protected] or at (813) 709-8281.
Additionally, Blackstone, one of the World's largest Real Estate Investment Trusts, froze redemptions in November 2022 and still have restrictions on redemptions and distributions due to the state of the Real Estate market and economy in 2023 and an unforeseen flurry of requests for withdrawal of funds within their BREIT.
To Play Devils Advocate I submit:
I suspect you just never read the entire document and all the small print that gives the sponsor these unilateral rights.. Now your upset.. does not make it stealing your money.. I don't know this person or company from a sack of salt or what they do.. But with all the syndicators out there NOT all but many also getting stuck with their deals needing to recapitalize because interest rate rise and tax's and insurance rise was not planned for or contemplated these are legitimate actions to take to protect the greater good. These are the risks when you send your money to a company and then you have zero control over it. That is how it works in syndication everyone of them works the same way.. As it relates to the latitude they have to run the company.. Its up to you the investor to realize this before you invest in these kind of vehicles. Trashing the company is not going to speed up your redemption.
I invested in Fundrise, ARK 7 and RADD and other companies. I sensed the rising interest will make impact on real estate market so I withdrawal all my investments at the end of 2022 or early 2023. Fundrise, which I invested since 2019, took less than 3 months to pay me back. ARK 7 can sell stocks within investors after minimum holding period. I understand each comapny structure and risk and I do respect it. I filed withdrwal application March 2023, and it took 10 months for RADD to pay, and they can't pay it. Do you know how many times I called and emailed with no response untill I mention I will seek legal help and finally someone replied to me. Do you know the employee told me that she's the only one working... balabla. Do you know the manger said they replace the whole accounting department that's why the redemption being deplay. If you don't know this company or what they do, where do you stand to make this comment? Promise to pay and not paying on time, freeze approved redemption without a reason and no follow up payment date is not the company I'd like to invest and have faith for.
#4 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
- 61,799
- Votes |
- 41,976
- Posts
#4 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
Quote from @Jingjing Zou:
Quote from @Jay Hinrichs:
Quote from @Jingjing Zou:
Quote from @Dutch Mendenhall:
Quote from @Arthur Crum:
Hello,
I Just wanted to give everyone a quick update on the RAD Diversified scandal that is currently unfolding. As of April 1, 2024, RAD Diversified (a REIT), has officially put a freeze on withdrawing any and all funds from the REIT. If I had to speculate, I would say they are facing some serious liquidity issues. Interestingly enough, I came across an article in the Philidelphia Inquirer that raised concerns about the REIT two years ago. It's pretty much spot on. Looks like your classic Ponzi scheme. It would appear good ole Dutch has been using new investor funds to pay liquidations i.e. robbing Peter to pay Paul. I guess the well has run dry.
I myself was duped into investing $5000 (unaccredited) into the fund and will now no longer be able to liquidate any portion of my shares. The URL provided above will take you to official statement that RAD has provided to the SEC. Personally, I doubt its authenticity, but that's the direct information I was provided with from Alexander Prock, as of one hour ago. I also know that RAD's accreditation with the BBB has been revoked due to the massive influx of similar complaints that have been pouring in since the official statement was released on April 1st, 2024.
I would strongly advise ALL BP members to stay far away from this scam. I highly doubt I will ever see my money again. I would sincerely hope that the SEC has begun looking into this and/or the FBI. And, by the way, Dutch Mendenhall the CEO of RAD, has been a member of the BP community now for several years so feel free to chime in bud. Below is a copy of the SEC statement. It really makes me sick that these scam artists run rampant while the SEC does absolutely nothing to combat the issues. Anyway, please feel free to do your own due diligence but it looks like we all got got.
"On April 1, 2024, the board of directors (the “Board") of RAD Diversified REIT, Inc. (the "Company”) decided, in accordance with the terms of its Share Redemption Program, to continue the temporary freeze of the Company’s redemption program. The Company will not process any pending requests that have not been redeemed as of February 1, 2024 nor will it accept any redemption requests after April 1, 2024. Pending redemption requests will remain in queue until the Company recommences the redemption program. The Board intends to reassess this decision to determine whether to recommence the redemption program or to continue to pause the redemption program no later than July 1, 2024."
Mr. Crum,
As a RADD investor, we value your business. Under careful consideration, The Board of Directors has decided to freeze all distributions and withdrawals for an additional 90 days. This decision has been made due to record-high interest rates and the worst Real Estate economy since 2008. Most importantly, to protect you, the investor.
In 90 days, the Board of Directors will reevaluate our cash position and decide if we will continue to recommence or continue to pause distributions. This will occur on/about 01 July 2024. I want you to know this is a good decision that has been made by our Executive board to protect your investment. We assure you, if you have been approved for a redemption/distribution, your approval will remain valid and remain in que for payment once the freeze is lifted.
The following link is to the 1U Amendment to our SEC Offering Circular and SEC Offering Circular itself.
https://www.sec.gov/Archives/edgar/data/1721469/000110465924043461/tm2411068d1_1u.htm
https://www.sec.gov/Archives/edgar/data/1721469/000110465922002821/tm222539d1_partiiandiii.htm
It’s vital to understand that the journey forward for us has a series of progressive steps:
1. The freeze, which is painful, is necessary for us to build reserves, pull equity, and meet commitments going forward.
2. Submitting all financials to auditors for REITs. RADD America has been submitted and RAD Diversified will follow soon.
3. Simultaneously improve our process and communication systems.
4. Portfolio loan against existing assets for immediate payment to investors. The loan is in process and through our financials and reserves we will achieve it.
We are a good company with incredibly hard-working people. We are going through a challenging time that will make us stronger. Capital invested is tied up in Real Estate and we will pull equity to take care of investors.
I highly recommend you read the SEC filing and the 1U Amendment. Additionally, as stated above, for additional questions please contact [email protected] or at (813) 709-8281.
Additionally, Blackstone, one of the World's largest Real Estate Investment Trusts, froze redemptions in November 2022 and still have restrictions on redemptions and distributions due to the state of the Real Estate market and economy in 2023 and an unforeseen flurry of requests for withdrawal of funds within their BREIT.
To Play Devils Advocate I submit:
I suspect you just never read the entire document and all the small print that gives the sponsor these unilateral rights.. Now your upset.. does not make it stealing your money.. I don't know this person or company from a sack of salt or what they do.. But with all the syndicators out there NOT all but many also getting stuck with their deals needing to recapitalize because interest rate rise and tax's and insurance rise was not planned for or contemplated these are legitimate actions to take to protect the greater good. These are the risks when you send your money to a company and then you have zero control over it. That is how it works in syndication everyone of them works the same way.. As it relates to the latitude they have to run the company.. Its up to you the investor to realize this before you invest in these kind of vehicles. Trashing the company is not going to speed up your redemption.
I invested in Fundrise, ARK 7 and RADD and other companies. I sensed the rising interest will make impact on real estate market so I withdrawal all my investments at the end of 2022 or early 2023. Fundrise, which I invested since 2019, took less than 3 months to pay me back. ARK 7 can sell stocks within investors after minimum holding period. I understand each comapny structure and risk and I do respect it. I filed withdrwal application March 2023, and it took 10 months for RADD to pay, and they can't pay it. Do you know how many times I called and emailed with no response untill I mention I will seek legal help and finally someone replied to me. Do you know the employee told me that she's the only one working... balabla. Do you know the manger said they replace the whole accounting department that's why the redemption being deplay. If you don't know this company or what they do, where do you stand to make this comment? Promise to pay and not paying on time, freeze approved redemption without a reason and no follow up payment date is not the company I'd like to invest and have faith for.
I agree these actions have tainted the company big time. I just dont think it Stealing. I did not say it was proper or how it should be handled and as I stated you can find 10 threads on BP and I am sure other sites like Reddit about syndicators doing the same thing IE freezing payouts. How a company then handles those situations will define how they do in the future.. It appears this company has not handled it well allowed this to get out into SM and from what I can see has done irreparable harm to its reputation. I just dont think it was pre meditated stealing. Or like many like to go to and claim Ponzi.
I think these are good discussions to have for investors when the market has shifted and choosing a sponsor is so critical and one cant invest simply on popularity or SM presence. AS for Fundrise I think they are/were a crowd funder to start with Just think how many crowdfunding sites bit the dust and massive loss's happened.. only a few it seems have been able to keep going.. Realty Shares comes to mind.
To me bottom line when your money goes into these funds you have lost all real control and your simply along for the ride be it good or bad.
- Jay Hinrichs
- Podcast Guest on Show #222
Quote from @Arthur Crum:
Jay, my cousin is an attorney and he is simply looking at the contract for me. I dont care if its a dollar, if someone steals from me im comming for them.
So am I. Dutch Mendenhall and his side kick Amy are in a lot of trouble. Now what the hell is the SEC doing for all of the investors including myself. This RAT is going DOWN!!
Quote from @Arthur Crum:
#4 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
- 61,799
- Votes |
- 41,976
- Posts
#4 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
Quote from @Mark Sanita:
Quote from @Arthur Crum:
Jay, my cousin is an attorney and he is simply looking at the contract for me. I dont care if its a dollar, if someone steals from me im comming for them.
So am I. Dutch Mendenhall and his side kick Amy are in a lot of trouble. Now what the hell is the SEC doing for all of the investors including myself. This RAT is going DOWN!!
other than freezing redemption's what specifically do you believe they have done that is illegal or dishonest or their collateral that you invested in is in serious jeopardy.
Can you be specific other than they are Rats :) this is good information for others to follow and learn from..
- Jay Hinrichs
- Podcast Guest on Show #222
Quote from @Arthur Crum:
I am so sorry that I invested with them. I would like everyone that is in this position just as I am lets start a class action lawsuit today against this company. Is there any great lawyers out there that can help all of us sue the hell out of them. What is wrong with our government by letting them get away with this.
#4 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
- 61,799
- Votes |
- 41,976
- Posts
#4 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
Quote from @Justin Maciak:
Just a point of fact Class action suits are a pipe dream at this level in almost all circumstances.
there has to be money to collect.
- Jay Hinrichs
- Podcast Guest on Show #222
@Jay Hinrichs
I agree. People can try and sue but if nothing illegal was done / the sponsor can be near incompetent but as long as they did what they said they would do in the offering then it’s just a bad investment
As you mention jay they have multiple offerings and I still bet people are investing in them without reading what is going on or knowing what they are investing in.
- Chris Seveney
#1 Multi-Family and Apartment Investing Contributor
- Attorney
- Philadelphia
- 1,261
- Votes |
- 817
- Posts
#1 Multi-Family and Apartment Investing Contributor
- Attorney
- Philadelphia
@Dutch Mendenhall Your latest email was just released titled "4 X Your Investment". Contained within is a video of you interviewing someone on how to 4X revenues through ad spend. Is this really the correct allocation of your organizations resources at this time?
Meanwhile your website lists 11 staff members with the following titles: CRM/Email manager (1); SEO Manager (1); Content Creator (3); Director of Advertising (1); Digital Advertising Specialist (1); Event Logistic Specialist (1); Chief Creative Officer (1); Social Media Manager (1); Senior Social Media Engagement (1)
How is this overhead optimizing your real estate portfolio so you can return to making distributions? Perhaps you should be refocusing your organizations resources at this time?
Quote from @Manny Vasquez:
@Dutch Mendenhall Care to chime??
I still want to know what these titles job functions are: Director of Special Operations vs director of operations (one is a Mendenhall), VP of real estate and director of real estate (both are Mendenhall's) There is already a CFO and COO not names Dutch or Amy. No bios for any of the staff members either. Everyone is in the dark!
Quote from @Sebastian Bennett:
Quote from @Manny Vasquez:
@Dutch Mendenhall Care to chime??
I still want to know what these titles job functions are: Director of Special Operations vs director of operations (one is a Mendenhall), VP of real estate and director of real estate (both are Mendenhall's) There is already a CFO and COO not names Dutch or Amy. No bios for any of the staff members either. Everyone is in the dark!
Sebastian Bennett, feel free to reach out to me directly. 919-604-5703
Quote from @Justin Maciak:
Justin, Mark Sanita here, I have contacted a law office in Coral Springs, Florida last week. Please let everyone know Its Silver Law Group (954) 755 4799 They are trying to help me out with my Rad Diversified situation. I think the more people that call them we might have a chance of opening 1 big class action lawsuit. Thanks
#4 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
- 61,799
- Votes |
- 41,976
- Posts
#4 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
Quote from @Mark Sanita:
Quote from @Justin Maciak:
Justin, Mark Sanita here, I have contacted a law office in Coral Springs, Florida last week. Please let everyone know Its Silver Law Group (954) 755 4799 They are trying to help me out with my Rad Diversified situation. I think the more people that call them we might have a chance of opening 1 big class action lawsuit. Thanks
I am playing devils advocate on this one..
what do you guys hope to achieve thinking your going to be able to do a class action.
I mean from what I see here on this thread the only thing that has happened is distributions have been postponed or delayed.. and more likely than not the sponsor has the legal right to do that.
so at this point other than being pissed off you cant get your redemption when you wanted it there are no loss's what are they going to do a massive class action over ?
Now if this all ends up in BK and there are actually loss's and the attorney thinks there is insurance money to go after then maybe some litigation will be warranted..
I highly suspect you folks have never ever been through any kind of civil business litigation and have no clue how expensive and time consuming it can be.. No attorney is going to take this on contingency from what I see posted here.
Now on the flip side.
there was a good post on BP facebook from a syndicator that went to a conference with a bunch of syndicators and one of the main points being brought up by the investors in the audience is the Poor communications that is coming out of the syndicators these days. Which is leading to these assassinations on SM by Investors many with very little money at risk like the OP who started this thread 5k and he is going into orbit over it.. Syndicators need to take heed on this and up their communication game big time otherwise this is the result reputation assassination whether your right or wrong.
- Jay Hinrichs
- Podcast Guest on Show #222
#1 Multi-Family and Apartment Investing Contributor
- Attorney
- Philadelphia
- 1,261
- Votes |
- 817
- Posts
#1 Multi-Family and Apartment Investing Contributor
- Attorney
- Philadelphia
I agree with @Jay Hinrichs. A lawsuit at this stage is likely throwing good money after bad. Best course of action is to work on better accountability/communication and perhaps push RAD to re-allocate some of their operational spend on personnel that can maximize the profitability of it's portfolio.
My observations of their business tends to focus on their Philadelphia operations/portfolio which I understand to be a sizeable portion of RAD'S holdings. While I hate to be the bearer of bad news the latest email to hit my inbox (yesterday) was titled: [Walk Through] We flipped this property for $200K.... Contained within the the email was a 5 Minute video featuring @Dutch Mendenhall providing a tour of 4488 Livingston Street, a single family home I can best describe for those not familiar with Philadelphia as located in a "C" neighborhood with no barriers of entry.
I am not going to even get into the video itself because the renovation looks like a complete disaster but relying solely on information that's public and easily accessible, this single family home was purchased by DH1 Fund LP, a RAD affiliate in 2017 at a sheriff sale and transferred from predecessor company to DDH Fund LP in 2019. A permit was was pulled in 2019 to close out violations as the remarks indicate the home was renovated without permits. Fast forward to now & there are no permits that have been issued since 2019. Oh and there is no sales history for this home having sold. Thus it was as not flipped (unless you consider the nominal transfer between predecessor deed holder and current deed holder a flip).
Either this is a video from 2019 that's being recycled by their rather robust marketing division or RAD is renovating this C neighborhood home twice in a 5 year period (and for a second time without permits). Regardless of which holds true, for a company who represents to have a $250M portfolio to select this home to be showcased in their marketing materials at this time speaks to the operational disconnect that exists.
I've written on this before but investing passively requires even greater diligence than investing actively. Active investors have to conduct diligence on the investment thesis/ opportunity whereas anyone investing passively has to conduct diligence on the operators as well as the investment thesis/investment opportunity. I can't speak to the legalities of the paused distributions ( I did not invest in any RAD offerings) but what I can observe are poor operations. Again, your time and energy is better spent increasing accountability and pushing RAD to improve their staffing with individuals qualified to maximize their portfolio at this time.....and in the future spend some time and money to perform adequate diligence before you invest passively.
Quote from @Stuart Udis:
I agree with @Jay Hinrichs. A lawsuit at this stage is likely throwing good money after bad. Best course of action is to work on better accountability/communication and perhaps push RAD to re-allocate some of their operational spend on personnel that can maximize the profitability of it's portfolio.
My observations of their business tends to focus on their Philadelphia operations/portfolio which I understand to be a sizeable portion of RAD'S holdings. While I hate to be the bearer of bad news the latest email to hit my inbox (yesterday) was titled: [Walk Through] We flipped this property for $200K.... Contained within the the email was a 5 Minute video featuring @Dutch Mendenhall providing a tour of 4488 Livingston Street, a single family home I can best describe for those not familiar with Philadelphia as located in a "C" neighborhood with no barriers of entry.
I am not going to even get into the video itself because the renovation looks like a complete disaster but relying solely on information that's public and easily accessible, this single family home was purchased by DH1 Fund LP, a RAD affiliate in 2017 at a sheriff sale and transferred from predecessor company to DDH Fund LP in 2019. A permit was was pulled in 2019 to close out violations as the remarks indicate the home was renovated without permits. Fast forward to now & there are no permits that have been issued since 2019. Oh and there is no sales history for this home having sold. Thus it was as not flipped (unless you consider the nominal transfer between predecessor deed holder and current deed holder a flip).
Either this is a video from 2019 that's being recycled by their rather robust marketing division or RAD is renovating this C neighborhood home twice in a 5 year period (and for a second time without permits). Regardless of which holds true, for a company who represents to have a $250M portfolio to select this home to be showcased in their marketing materials at this time speaks to the operational disconnect that exists.
I've written on this before but investing passively requires even greater diligence than investing actively. Active investors have to conduct diligence on the investment thesis/ opportunity whereas anyone investing passively has to conduct diligence on the operators as well as the investment thesis/investment opportunity. I can't speak to the legalities of the paused distributions ( I did not invest in any RAD offerings) but what I can observe are poor operations. Again, your time and energy is better spent increasing accountability and pushing RAD to improve their staffing with individuals qualified to maximize their portfolio at this time.....and in the future spend some time and money to perform adequate diligence before you invest passively.
*Mic drop...
- Alan Asriants
- [email protected]
- 267-767-0111
Just to be clear - which RAD Diversified are you referring to?
This group was posting in a FB group about private lending: https://raddiversifiedllc.com/
But I think you're referring to this group, right?: https://raddiversified.com/team/
@Becca Pariser This thread is related to a real estate investment company, not a lender. Multiple threads on bigger pockets with RAD Diversified investors (the REIT and investment company) complaining about bait and switch tactics where they believed to invest in the REIT only to find out RAD tried to convert the investment into an unsecured loan. @Dutch Mendenhall is on bigger pockets but has failed to answer to any red flag accusations that have been presented. Don't know anything about RAD the lender.
Quote from @Becca Pariser:
Just to be clear - which RAD Diversified are you referring to?
This group was posting in a FB group about private lending: https://raddiversifiedllc.com/
But I think you're referring to this group, right?: https://raddiversified.com/team/
Yes, this is the investment company that is holding all of my investment money and wont give it back.
Appreciate it. I found another thread about RAD Diversified - a private money lending group. Also potentially sketchy!
Hey Radd Enthusiasts! Check out their Instagram page, RADDCOMPANIES...They are getting ready for their investor Summit...self described as the Coachella festival for people with 401K's....can't make this stuff up lol
BTW here's the link https://investwealthsummit.com/
Very little is mentioned about RAD which seems odd since its clearly a marketing opportunity to pull in more capital. Questions why they aren't marketing the RADD brand better? Perhaps because they know people will do a simple internet search and see the *****torm that's brewing?