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American Homeowner Preservation (AHP) Fund
I stumbled across the American Homeowner Preservation (AHP) Fund ad on a podcast. Upon going to their website and researching further, it appears it's a hedge fund that buys discounted mortgages and supposedly tries to let homeowner's stay in their homes (and obviously make a profit) in doing so. This is now open to non-accredited investors (as well as accredited) for as little as $100. They keep any profits above 12% and it appears they charge about a 2% fee plus a couple other nonsense items (based on my very brief skimming through some info). Anyone familiar with AHP? Thoughts?
Originally posted by @Paul B.:Originally posted by @Mark F.:
Edit: Reread your post. You said closing, so the 2018 fund is not closed yet? Read it at first as closed.
Correct. My understanding is that the 2018 fund is still available for investments. I don't know what it says on their site, but the webinar I watched was quite recent.
Got it thank you. Their site was a little confusing on that due to some glitches in their links but that clears it up. I appreciate the insight.
Originally posted by @Mark S.:A quick search on BP would answer most of your questions before you go blasting them. In the time it took you to create an account on BP could have yielded the answers you’re looking for.
I've searched and this thread has the most recent post about AHP, which is what I was asking for, recent info. In the time it took you to create an account on BP you could have actually read my post correctly. Their website on mobile has glitchy links and does not yield the answers I was looking for, like I mentioned. Threads that I did read on BP even mentioned this. And this recent thread here (https://www.biggerpockets.com/...) even mentions how this thread has the most recent chatter. Coming on here to get clarifying questions, not baseless wise *** comments.
And I wasn't blasting them. I made a comment how two of their links aren't optimized. If I do invest I would reach out to let them know this so they can fix it. Important in my eyes since these links are for people thinking of investing.
Originally posted by @Jay Hinrichs:
keep in mind IB and AHP are completly different business's and business models.. one is distressed notes work them out.. the other is a day to day hard money lender.. huge difference.
Actually, Jay, the "huge "difference" isn't in their business structure but in their investor-relations departments. That was my point.
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Originally posted by @Paul Chapey:
Originally posted by @Jay Hinrichs:
keep in mind IB and AHP are completly different business's and business models.. one is distressed notes work them out.. the other is a day to day hard money lender.. huge difference.
Actually, Jay, the "huge "difference" isn't in their business structure but in their investor-relations departments. That was my point.
Gothca I know IB really well but dont know AHP at all.. just know they have completely different business models was my point where the HML are usually getting payoffs constantly and the note guys they need to foreclose to liquidate which is much more involved.. although i suspect they do get payoffs too.
Touching base....AHP still making steady monthly payments? Feedback? I am considering investing..
@Andrew Frishman, yes. Distributions are generally paid on/within a few days of the 10th of each month. Their current fund with a 10% preferred return is supposed to stay open until the launch of the new fund that will pay 7%. Originally, the 10% fund was slated to close in early November but according to Jorge on a recent investor update webinar, his attorney informed him AHP was able to submit a particular form to extend the fund for up to a year (normally it can only stay open for 2 years from launch). They expect it to stay open until January 2021 when they plan to launch the 7% fund. Looks like an extra 2 months to get money in at 10% instead of 7%. Cheers.
Originally posted by @Mark S.:@Andrew Frishman, yes. Distributions are generally paid on/within a few days of the 10th of each month. Their current fund with a 10% preferred return is supposed to stay open until the launch of the new fund that will pay 7%. Originally, the 10% fund was slated to close in early November but according to Jorge on a recent investor update webinar, his attorney informed him AHP was able to submit a particular form to extend the fund for up to a year (normally it can only stay open for 2 years from launch). They expect it to stay open until January 2021 when they plan to launch the 7% fund. Looks like an extra 2 months to get money in at 10% instead of 7%. Cheers.
Mark how do you get access to webinars? I've invested and haven't gotten any links. Thanks!
In this recent podcast episode, Jorge Newbery shared that AHP was unable to honor investor redemption requests during March and April of this year. While I understand the relationship between those months and COVID impacts, and I'm guessing they were within their agreed-upon rights do halt redemptions, it's an additional risk to consider.
@Marco Bario AHP Servicing Fund is making redemptions but they take some time. My March 23 request for a partial redemption was paid on September 28.
That's good information and great news @Paul Chapey. Thanks for sharing it.
Originally posted by @Marco Bario:In this recent podcast episode, Jorge Newbery shared that AHP was unable to honor investor redemption requests during March and April of this year. While I understand the relationship between those months and COVID impacts, and I'm guessing they were within their agreed-upon rights do halt redemptions, it's an additional risk to consider.
Hi Marco, how do I get access to their podcast? Do I email jnvestor relations? I searched with no results. Thanks
@Mark F. - You should be able to click the link I added to my post (on the word episode), or search iTunes podcasts (or any favorite location for podcasts) for the "Passive Real Estate Investing via Simple Passive Cashflow" podcast. I don't recall the episode date but it was the most recent featuring Jorge Newbury.
Originally posted by @Marco Bario:@Mark F. - You should be able to click the link I added to my post (on the word episode), or search iTunes podcasts (or any favorite location for podcasts) for the "Passive Real Estate Investing via Simple Passive Cashflow" podcast. I don't recall the episode date but it was the most recent featuring Jorge Newbury.
Got it thank you. I wasn't sure if it was a specific podcast for their fund or just Jorge going on podcast and letting people know. I'll check it out now.
Just fyi, Jorge starts talking about the AHP fund in the podcast at the 29 minute mark. The rest is talking about preREO which is pretty interesting honestly.
@Marco Bario @Paul Chapey @Mark F.
I have been with AHP servicing couple years and do monthly deposit to them as my system "pay myself first". I have never tried to do "full redemption" of my money back from them, so never knew if it was trouble. I thought it was within 60 days and 10% return goes to 8% if withdraw.
I have requested my whole account of funds back to get me liquidity on October 19th, 2020 and still have not got ANYTHING. I did this investment, because believe in the model (distressed notes) and thought this was liquid. Otherwise would've just kept 100% control and invested in real estate or index funds myself.
Good to see you successfully redeemed your funds from AHP servicing before. 6 months seems crazy, but understand coronavirus could be at fault. Have you ever done "full redemption" of funds and got it back? I am wondering if I only requested partial that it would redeem me faster, unlike me asking for 100% of my funds back.
This all seems very interesting to me now that it isn't as liquid as thought, especially after watching Bernie Madoff and Ponzi schemes.
@Quentin McNew, you should check out the monthly(ish) investor webinars. This gets addressed multiple times each webinar.
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Out of curiosity / what does the agreement state in regards to sending the $ back? How much was the investment ?
My past agreements have stated 90 days to provide investor their funds back (to give time to sell assets to pay the investor). As I keep some $ liquid but for a fund you have to balance investment vs liquidity because if you are paying a preferred return on $ not invested then it causes other problems.
I have not invested in this fund so I am not providing a positive or negative review.
Originally posted by :
I have been with AHP servicing couple years and do monthly deposit to them as my system "pay myself first". I have never tried to do "full redemption" of my money back from them, so never knew if it was trouble. I thought it was within 60 days and 10% return goes to 8% if withdraw.I have requested my whole account of funds back to get me liquidity on October 19th, 2020 and still have not got ANYTHING. I did this investment, because believe in the model (distressed notes) and thought this was liquid. Otherwise would've just kept 100% control and invested in real estate or index funds myself.
Good to see you successfully redeemed your funds from AHP servicing before. 6 months seems crazy, but understand coronavirus could be at fault. Have you ever done "full redemption" of funds and got it back? I am wondering if I only requested partial that it would redeem me faster, unlike me asking for 100% of my funds back.
This all seems very interesting to me now that it isn't as liquid as thought, especially after watching Bernie Madoff and Ponzi schemes.
If you've watched the webinar, Jorge Newberry the CEO, said they had fulfilled redemption to either April or May. I cant remember off the top of my head but the reason being they were so far behind is due to massive amounts of redemption request from covid. Id sign up for the next webinar in January, yet to he announced, if you're interested in learning where they are at in the redemption request line. He said they fully intend to take of all redemption request.
To those who received a K1 does this give off interest income (box 5) or passive income (Box 1) on K1?
minimum investment $100, but I put chunk of change into start. I then set “pay myself first” just doing automatic $500 monthly deposits and turned on “reinvest” all dividends. I will keep an eye out for next webinar. They were reputable and referral from my trusted network, so have hope it works out. It was my fault on due diligence thinking it was “liquid” within 60 days money back. I looked at it like a checking account making 10% my money. Thanks for all the insights. Appreciate you all.
@Quentin McNew - You mentioned that I made a redemption from AHP. Actually, I've never been an investor in the fund. Just wanted to clear that up.
Did they talk about when K1s are going out on the webinar this past week? I wasn't able to attend the most recent webinar and still waiting on a link to the replay.
