All Forum Posts by: Jim M.

There seems to be talk that Realty Mogul is going to take over RS.  That would be a very good thing indeed.  Here's hoping the rumor pans out.

I'm still getting payments (Jan 8 and Jan 11, two different investments).  I think the key is, if the sponsor is scrupulous and does the right thing, you'll keep getting your payments.  But if they decide to default, don't count on RS to go after them on your behalf as they would have in the past.

This is probably a very naive question but, I've always wondered about the financial relationships between BP and the podcast guests, since this is never disclosed by BP as far as I can tell.  I would imagine that some of the more successful guests (e.g. Grant Cardone, many others) who don't need the exposure, charge a fee.  Whereas, some of the newer players might guest for free, or might even pay BP, for the exposure to potential investors.

Anyone in the know about this?

Just a quick update:  RS had debited my bank account $10k a couple weeks ago for a deal which is now dead.  They advised me that the money would be credited back by the 16th, but it hit yesterday.  I'm glad they are acting with integrity and this gives me hope that I'll eventually get all my money out (maybe even with the promised returns!)

As an example of a company in trouble being euphemistic about it...who remembers NetBank?  One of the first online-only banks.  I had savings and checking accounts with them.  Some time in 2007 I think it was, they sent out an email saying they were looking to grow/expand by merging with another bank.  Ok, well, that sounds great, right?  So they entered into negotiations with EverBank to merge.  For whatever reasons that only those in the boardroom were privy to, the deal fell thru.  They sent out another letter saying they were continuing to look for a new business partner.  Um, ok, still sounds ok???

2 weeks later, the FDIC showed up and closed them down, insolvent. They weren't looking for a business partner to help them grow; they were desperately seeking a buyer to stay alive. When the EverBank deal fell through, it was the end. And still they made it sound like nothing more than a temporary setback.

This is how the letter RealtyShares posted on their site rings to me.  I think their troubles are far worse than they are letting on.

Am I right?  Who knows?  I have no inside information other than the letter we've all seen, and I am no oracle.  I could be, and indeed hope I am, 100% wrong.  But my gut is telling me that many RealtyShares investors are going to lose some, most, or all of their money.

 I'm not sure what you mean by this?  All of their deals are pooled; that's the nature of crowdfunding.