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.

[Engelo Rumora]

Quote from @Jay Hinrichs:

Quote from @Engelo Rumora:

@David Kanarek

I don't think I have ever seen better investigative research than this.

Hat's off to you and sorry for your troubles and everyone else's.

Please don't investigate me haha

Engelo this is all the Due diligence that should have been done prior to investing its fine after the fact but that's not going to get their money back.. And there is a constant mention of Guaranteed returns there is no Guarantee unless its the federal govmit on 250k or less FDIC insured .. this was simply investor greed.. investors did not understand what they were investing in what the risks were and were blinded by the returns offered.. no one put a gun to their head.. investor make bad investments all the time..

Agreed mate,

I'm all about taking personal responsibility and I have been swindled many times in a similar fashion like many feel on this thread.

It seems like these investors including myself in other instances get negligent and don't read between the lines.

Especially after trust and a relationship have been established, we become gullible and don't second guess or question.

Maybe it's greed for some but in my instance it wasn't.

Just innocent and trusting stupidity (No, I'm never a victim as that is ******** mentality in my book).

I had some spare $$$ and wanted to diversify in other assets through folks I considered friends and trustworthy business partners.

Didn't even think twice to look things over.

Looking back, it all makes sense now but it's easy being a general after the battle hehe

I only blame myself here...

I mentioned in the thread further above that I lost to the tune of hundreds of thousands of dollars.

Again, it is what it is and it's a lesson.

Only myself to blame and have always taken the high road in such instances.

As much as I'd like to fight for justice and go down the legal path, it just isn't worth the time and emotion.

Upwards and onwards.

Become better and make more than you have lost.

Each to their own and that's just my personal "modus operandi"

[Engelo Rumora]

Quote from @Jay Hinrichs:

Quote from @Engelo Rumora:

@David Kanarek

I don't think I have ever seen better investigative research than this.

Hat's off to you and sorry for your troubles and everyone else's.

Please don't investigate me haha

Engelo as someone that has taken this kind of abuse on BP and SM  and lived to fight another day I think you understand better than most investors mind set and how they feel or attack if their deal does not go right.

Bloody oath I do mate.

It's never their fault and always yours (Ours).

They rarely take any responsibility and cry victim.

It's crazy to think but it's like many intentionally look for drama and deep down inside don't want success but rather problems.

Someone to dislike and blame and to feel wronged by.

All other personal and "at home" issues can now be blamed on this one unfortunate scenario.

This "drama" per se is like food for the hungry and they need such drama in life to "survive".

My apologies if my above comments sound weird as they are more so from a philosophical standpoint and just some thoughts that I have considered after 5,000+ investor intro calls and as you have mentioned, others feeling wronged by me or my company on many occasions.

What a $#@% way to live IMO but I don't judge and sleep in peace.

Again, I have been "wronged" by many but consider it my own fault.

I also don't call them out publicly or post bad reviews, etc... 

Prefer keeping this kind of stuff behind closed doors if possible and sorting it out without revealing dirty laundry.

I would have been in the same boat as many other turnkey providers that are no longer around if I didn't focus on limiting how much business I take on.

And even with my stupidly strict criteria, we still copped the brunt of the sword.

Business is business and people are people, sometimes things just don't work out.

It's a true shame but such is life.

I always want whats best for everyone and for every deal to work out and for everyone to succeed.

With the best intentions, mistakes are still made.

Those that work hard and do their best, will also make mistakes unfortunately.

Again, I sleep in peace and whenever I F@#$ up, it's an honest mistake so crucify me all you want.

Thank God, never been sued and back round is squeaky clean and I intend to keep it that way.

Less is more and when crisis does arise (It always eventually does no matter how much you prepare and do your best), we can hopefully rectify and do our best to fix.

For example, just had an investor loose $50,000 on a deal and the next few deals we are working for free for this investor.

We don't have to do this, we want to...

Not sure how we would be able to accommodate such an instance if I had 50+ investors loosing that much so I guess my stringent on-boarding criteria has saved our A$$ for 10+ years now.

Granted, I'm burnt out on folks and have pulled back even more from doing our "measly" 4-5 turnkey deals per month and have decided to focus on just building my own portfolio.

Like I initially intended when I moved to this country in 2012.

Thanks mate and keep being great

[Jason Chmel]

I heard back from Marco. I asked if the equity shared will be converted back to notes, or if that part of it was permanent (which begs the question how do we get our money back?). I also asked if there was accounting I could see that shows my share of the equity as a whole? Who is to say my dollar equals how many equity shares? I asked about 3rd party accounting.

His response was it'll take 6-8 weeks at least for them to come up with a plan but the conversion to shares is permanent. Nothing on accounting or # of shares.

Today I looked on the website and the "Get started" button takes you to a "Coming Soon! Our New Equity Based Offering!" That's not what I singed up for but maybe something.

[Jay Hinrichs]

Quote from @Jason Chmel:

I heard back from Marco. I asked if the equity shared will be converted back to notes, or if that part of it was permanent (which begs the question how do we get our money back?). I also asked if there was accounting I could see that shows my share of the equity as a whole? Who is to say my dollar equals how many equity shares? I asked about 3rd party accounting.

His response was it'll take 6-8 weeks at least for them to come up with a plan but the conversion to shares is permanent. Nothing on accounting or # of shares.

Today I looked on the website and the "Get started" button takes you to a "Coming Soon! Our New Equity Based Offering!" That's not what I singed up for but maybe something.

well if you can  keep the other note holders from going nuclear on marco maybe there will be a work out etc.. one thing is for certain though putting him out of business will not get you any money back.. But its your folks call on that one..  

[Dennis Summerford]

Quote from @Alex Tank:

PONZI SCHEME, yes, I do have experience investing in Norada. As of today they stopped paying the interest. I lost my money, Hope you don't! 

Same thing with me

[Gerald Larue]

I am very sorry to hear about the losses that others have experienced.  I considered the Norada investment offering about two years ago and decided it wasn't a match.  Here is what deterred me:  I asked for audited financials, and they couldn't produce them.  I even offered to sign an NDA, but the sales rep insisted that they were not available for review.  The absence of independently audited financials coupled with an abnormally high interest rate is what prevented me from proceeding any further.  Please be sure to request audited financials before you invest.  If a company isn't willing to be transparent with their investors, that is a massive red flag.  

[Chris Seveney]

Quote from @Dennis Summerford:

Quote from @Alex Tank:

PONZI SCHEME, yes, I do have experience investing in Norada. As of today they stopped paying the interest. I lost my money, Hope you don't! 

Same thing with me

 What ever happened with Norada? curious if the lawsuits were filed etc. I believe the sponsor still is on social media going about their day to day

[Jay Hinrichs]

Quote from @Chris Seveney:

Quote from @Dennis Summerford:

Quote from @Alex Tank:

PONZI SCHEME, yes, I do have experience investing in Norada. As of today they stopped paying the interest. I lost my money, Hope you don't! 

Same thing with me

 What ever happened with Norada? curious if the lawsuits were filed etc. I believe the sponsor still is on social media going about their day to day

My Guess Chris is after all the blustering and threatening this calmed down and if litigation has started its in Ca so we can check back in about 18 months to 24 months from now to see what if anything happens.. I am still amazed at all the investors who went from their interest stopping to ( I lost all my money) with out digging into the collateral. It could very well be its all lost but seems like a big jump to conclusions by investors that basically did very high interest rate investing and expected  CD like performance.. Seems like most of them never got the RISK / REWARD concept.

[Doug Effinger]

Quote from @Chris Seveney:

Quote from @Dennis Summerford:

Quote from @Alex Tank:

PONZI SCHEME, yes, I do have experience investing in Norada. As of today they stopped paying the interest. I lost my money, Hope you don't! 

Same thing with me

 What ever happened with Norada? curious if the lawsuits were filed etc. I believe the sponsor still is on social media going about their day to day

 I'm sure lawsuits were filed. Some are making complaints to SEC. I tend to agree with Jay Hinrichs that forcing bankruptcy by many lawsuits will not be beneficial for the majority. I've got some funds in NCM. Also in 7e. The latter has never missed a payment. :)