All Forum Posts by: Dutch Mendenhall

@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.

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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 I also know that RAD's accreditation with the BBB has been revoked due to the massive influx of similar complaints that have been pouring in since the official statement was released on April 1st, 2024.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.

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Quote from @Shafi Noss:

They are using a Reg D 506(b) offering if raising from non-accredited investors. I am guessing you guys are non-accredited investors. If so they need a 'substantive relationship' with you before you put any money in. If they didn't have one, it may have been illegal for them to raise money from you. That is another thing you could mention to the SEC.

We do have both accredited and non-accredited offerings available through Reg D and Reg A. Whether you're accredited or not, we're here to address any concerns you might have and aim to do so as effectively and directly as possible.

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Quote from @Chris Tessmann:

Hey Dutch,

My IC Membership refund was approved 2/13/24, and was advised 2/19/24 that it would be processed that coming Friday (2/23/24). I then sent 6 emails over the next 10 days that were not responded to until the last one on 2/29/24, and was told it didn't go out in the prior week, and that your DoC was "hoping it would go out in this week's batch" (3/1/24). On 3/1/24, your DoC sent me an email stating that "Unfortunately no disbursements will go out this week. That is the only update I can provide today. I am the only person that will be able to update you in this matter. You can continue to reach out to the entire company looking for updates but again I will be the one to reach out as I get further direction."

After a few additional email interactions that same day, your DoC stated "I do not have an answer for you. I depend on another department as well for answers and I too have to wait," and then asked if I would "be open to an installment of a partial payment? So that I can go and ask if that is possible.If not then I will wait." (This is also after I was asked very early on if I would like to put the refund into the REIT instead of a cash refund.)

Since then, I have sent nine additional emails asking for status update with no response from anyone in the thread.

I started this refund request process 12/29/23 and it has been extremely frustrating in its' own right, to say nothing of the challenges that prompted the refund request being made in the first place. If transparency, responsiveness, and reliability are truly core values for RADD, I would appreciate you seeing to it that this isn't delayed any further.

Thank you.

Thank you for bringing this matter to my attention. I understand how important it is to resolve this matter promptly.

I want to address your concerns regarding the delay in processing your IC Membership refund. I have been made aware of some issues, including problems related to IRA money movement and incomplete deals, which have contributed to the delay in issuing refunds.

I want to assure you that your refund has been approved, and steps are being taken to expedite the process. As of now, the refund is scheduled to be issued soon. I apologize for the lack of communication and for the inconvenience caused by the delay.

Transparency, responsiveness, and reliability are indeed core values for us at RADD, and I am committed to ensuring that your concerns are addressed promptly and efficiently.

Once again, I apologize for the inconvenience and appreciate your patience and understanding in this matter.

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Quote from @Melanie P.:

Quote from @Stuart Udis:

@Mike Hurney What do I possibly get out of fabricating a statement a RAD fundraising consultant shared with me? When a real estate company takes money from 8,000 investors and has purportedly made everyone money doesn't that seem suspicious? Especially in real estate where contingencies come up that even the most seasoned of real estate investors don't expect? I can understand a flawless track record with a limited sample size but with 8,000 investors? I just opened their March 2023 circular available through their website and while the circular does not offer full addresses for all properties, I gravitated towards zip codes that I am personally active in within the Philadelphia market. One of the properties is titled "W Pomona St, Philadelphia PA 19144 and lists the purchase price of $192,000.00. There are only 2 blocks on West Pomona Street and the two blocks total 90 tax parcels. There's one house titled to Rad Diversified REIT Inc and it was nominally transferred from an affiliate company for $1. Previously the property was purchased by the affiliate DHI Fund LP for $58,000 in 2018. I checked to see if there was any other home which sold for $192,000, just in case I might have missed a transfer involving an entity that I did not recognize as a Rad affiliate and there are none. This took me less than 10 minutes. Would you classify this as first hand knowledge or do I need to personally lose money for that to qualify? This exercise was merely to prove a point. I could have told you the gist of this post before even opening the circular based on the comment you dismissed as "hearsay".

Hopefully @Dutch Mendenhall can provide an explanation as to why this is listed as an asset but not corroborated in the title records.

I appreciate your attempt to protect people. We have fought for a lifetime to provide investors with a proven, reliable, trusted resource with a proven historical track record. Real Estate is hard, and nothing goes perfectly. We’ve had a house fraudulently stolen, 10 West Pmona had a professional squatter, and rehabbing costs, contractors, banks, and more can be a challenge. We do own the Pomona property (https://property.phila.gov/?p=593090600) along with hundreds of other properties in the Philly area. Our investors have also enjoyed our stock going from $10 to $25.04. We are far from perfect, but we always fight hard for our investors. Also, our team and staff are incredible people who deserve great acknowledgment for all they do for our investors. I believe in our company, our people, and our investors!

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Quote from @Stuart Udis:

@Sebastian Bennett @Chris Seveney I have not invested, but checked them out. One of their fundraising consultants informed me "every investor at Rad has made money" and they have over 8,000 investors. I can tell you right now, this will end badly for some.

We understand your concerns regarding the statement made by one of our consultants regarding the success of RAD. While we strive to provide transparent and accurate information to all potential investors, it's important to clarify that no investment is without risk. While we are proud of the track record of success that many of our investors have experienced, we cannot guarantee similar outcomes for every individual. Market conditions, economic factors, and other variables can impact investment performance. We encourage all potential investors to conduct thorough due diligence, assess their own risk tolerance, and consult with financial professionals before making any investment decisions.

As for our number of investors, we are fortunate to have a large and diverse investor base. We value each and every one of our investors and work diligently to provide them with opportunities for growth and success.

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San Diego, California

Great job, Jenny! That is an achievement to be proud of! I wish you the best of luck with the rehab.

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Quote from @Michael Magno:

I didn’t say you were. Click the link and see what I am talking about.

I see. That is a different RAD Diversified. My apologies!

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Quote from @Michael Magno:

Anyone used them? Can't find much online....

https://raddiversifiedllc.com/about

We are not lenders.

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All Forum Posts by: Dutch Mendenhall

Dutch Mendenhall has started 3 posts and replied 19 times.

Post: RAD Diversified SCAM ALERT!!!

Post: RAD Diversified SCAM ALERT!!!

Post: RAD Diversified Review — It Wasn't Pretty

Post: RAD Diversified Review — It Wasn't Pretty

Post: Rad Diversified Feedback Request

Post: Rad Diversified Feedback Request

Post: Invest Wealth Summit | San Diego April 19-21

Post: First Investment Property at 20

Post: RAD Diversified Lending out of Baltimore?

Post: RAD Diversified Lending out of Baltimore?