Norada Capital Management Promissory note investment

[Anthony Jackson]

Greetings Pocketeers!

Has anyone had experience with this company and investing in their promissory notes.  I am interested in investing in something a bit more passive as I am getting older and, while I love the real estate asset class, I do recognize the need for multiple streams of income.  IT seems they have been around for a while, but not that long.  Beofre I consider an unsecured loan, I would love to hear if anyone on the site has any stories good or bad to share.

[David Kanarek]

Please see my forum:

Caveat Emptor My Fellow Small Investors !!!

In 2023, I invested in some Norada Capital Management 7 year Promissory Notes and last week less than one year after signing the last note, I receive a "form" email addressed to "Valued Investor", dated June 20th, 2024 from Marco Santarelli, who signed the letter as CEO & founder, that interest payments were being suspended until further notice without any resumption date. In 2023 before I invested any funds, each and every time that I spoke with their representatives, I asked as my FIRST question if Norada Capital Management had ever missed any interest or principal payments, and was always told the same thing by their representatives, that Norada Capital Management had a perfect payment/reimbursement history. As of this morning July 2nd 2024, a full 2 weeks after writing their current investors that they are suspending interest payments, they are still seeking new investors for investments but do not inform the new potential investors that they have suspended interest payments.

Before you invest, please feel free to contact me and I will be happy to furnish all of the documentation of this episode, but in the meantime don't trust anything that is not in writing and don't sign any document that allows them to stop paying the interest and/or principal that is owed for any reason.

As I am currently preparing a report for the BBB, the CFPB and the FCC, I would also ask if anyone else has had a similar experience; I feel like David vs. Goliath so please let's work together to see what can be done to have them resume interest payments. And, like me, please leave all the reviews you can on all the web sites you can find about your experience so that other small investors have this information about Marco Santarelli and Norada Capital Management.  Thank you.