All Forum Posts by: Alphonso Swaby

It is absolutely correct that that all investment has risk, and Norada is no exception. But Norada was pushing their Promissory notes and touting the company as doing very well in there webcast on 6/11/24 and 6/18/24, actively encouraging viewers to use their IRA to invest. They sent out the email suspending distribution on 6/20/24. To quote Marco, "this decision was not made lightly and comes after thorough deliberation and analysis of our current financial position." So the company financial position was known, so while you are deliberation with knowledge of "our current Financial position," you don't continue to solicit new investors for your Promissory note and continue to state the company was in position of growth, doing so well your are considering a future listing on the stock exchange. During the webinar, someone ask specifically about the failure of the company, he reassured that not withstanding a " black swan event, like the recent pandemic," they should be fine( this is the webinar of 6/11/24), I am not aware of a black swan event occurring. Then 1 week later you then offer another Promissory note offering at an even higher interest rate(17% instead of 12-15% offered prior) with a now significantly higher minimum investment. there are what led persons to invest in the last few week before the the email was sent. Yes any investment can fail nothing is guaranteed but to not only conceal financial difficulty of the company, but to knowing convey the opposite, to entice investors to invest, that unethical and possible illegal

This  for me is the issue. All Investments has inherent risk, some more than others, but if Marco(Norada Capital) had information that there were significant problems with the investment since as early as December 2023 and continued to advertise and market his funds as doing well and never missing a payment, thus attracting new investor deposits. They were accepting deposits to their accounts just weeks prior to announcing conversion to equity.  If Marco(Norada Capital) knew  of significant problems that changed the baseline risk, but continued to market as usual with the intent to use the equity conversion clause, then that is a problem, ethically and likely legal as well. But it's early yet and we await Marco Response for more clarity on the situation. Interesting though, they have removed mention of the offering from their site as of yesterday

I recently (4 weeks ago) invested a substantial amount of money in Norada Capital Management and did receive a first payment in June. This "financial problems," can't something that occurred overnight. If they knew problems were brewing, why keep taking in money from new investors, to only after a few weeks, just say thank you, no more distribution and your  money is now converted to equity. Hopefully Marco will be fully transparent in the coming days, so we can all get a better understanding, especially those of us who deposited our money over the past few weeks. I am in Medicine, most patient sue us Doctors not for mistakes we make, but lack of transparency/information, it forces us to give information. Looking forward to specifics from Marco in the coming days and not just, " Due  to current market conditions and unforeseen financial challenges."

@Drew Sygit. Thanks very much for your response. Most important for me is a property manager that is familiar with city rental ordinances and can work with  the city of Detroit  to obtain certificate of compliance . Do regular inspections and preventative maintenance. Properties on Warwick street(48219) and Bluehill(48224), are these area considered Class C areas? Thanks again

I have a few properties in Metro Detroit and am not happy with my current Property management. Anyone know of any reputable/good property managers in Detroit. Need  Property manager who can work with the city of Detroit in obtaining Certificate of compliance/Registration. I want to build my current portfolio, but need good  property managers as it can make or break your investments. thansk for your respons.

Alphonso

Thanks Drew & Isaura, appreciate the info.

Alphonso

Hello, I have a couple of properties in Detroit, my Current Insurance Company (ARCANA), informs me that they are no longer insuring properties in Detroit, looking for information on Insurance company currently willing to Insure properties in Detroit. i would really appreciate any info or leads.

Alphonso swaby