All Forum Posts by: Harish V.

@Steven Huynh  Numbers like these only tell you how many people have invested with them. It does not tell you anything about anyone who got their dividend or principal back.

I fell for it and invested in Buffalo project. It worked wonderfully till the dividend came due. Now they are just postponing. The IRR projected was 30%. Now they are trying to sell the unbuilt project to someone else. Already tried to restructure the deal once. If they really had 500+ investors happy, none of them can defend them here on bigger pockets?

If you really believe that.. i wish you luck, please invest with them.

Anyone invested in this that has cash flowing, please share your experience.

Avoid Grocapitus and financial attunement. They are just sales people for other firms that do actual work.  You will not see your money back.

Guess no one has positive experience. It’s rather new company so unlikely to have successful exits. I have experience with financial attunement, the firm where Neil Bawa of Grocapitus was before. I did not have good experience. Posting this response to help and warn wandering souls. 

Interesting: 

Morris Invest: How to Get Started Investing with $30,000 - YouTube

I have invested with financial attunement (Neil Bawa was a partner at the time), emails still include him. Like most other places, the projections were rosy, everything seemed to be going fine in terms of work. However the deal is running several years behind schedule. Lenders cannot be found. For 1 year nothing is happening. No  return has come out. I am skeptical. Just want to put it out there. 

You should not read any reviews given to you by solicitor/advertiser. You need to talk to people directly and find full cycle experience from start to exit for syndications. It may seem syndications do not earn till they exit. However once money is given, no one knows what is going on. Syndication may spend your money then loose interest as an example and move on to next deal.

Also, if they tell you, we are full but one spot is available, beware you are being played.

Good luck to anyone who invests with SDIRA Wealth a.k.a. Growth equity group friends of Morris Invest. Read the forums. If you did not do independent appraisal and inspection, you experience what 170+ investors experienced. Its matter of time.

Some links in this other thread.

Turnkey Company via SDIRA Wealth (biggerpockets.com)

Good luck to anyone who invests with SDIRA Wealth a.k.a. Growth equity group. Read the forums. If you did not do independent appraisal and inspection, you experience what 170+ investors experienced. Its matter of time.

Turnkey Company via SDIRA Wealth (biggerpockets.com)

Avoid SDIRA Wealth and Growth Equity group like a plague.  Search up Growth equity group here.

Turnkey rental has potential to make a lot of money for those selling to you and managing property for you. If you must do it, follow strict code.  From my experience you want to do the following

1. Get independent inspection - do not accept the words of selling party, no matter how reliable. You need to get independent inspection. Also get independent appraisal done.

2. Double check rent, insurance, property tax and  maintenance assumptions - Model vacancy of 15 days per year. Model cost of renting + management. You should model to have new tenant every year. If that is not the case some years that will be your upside.

3. Some sellers may only tell you seasonal high rents and build model based on that. When season is gone, rents may be lot different. So build model based on average rents.

4. Never refinance through hard money lender. FHA or bank if they will finance it, I feel more comfortable. If you end up with hard money lender that's fine, but a bank should be willing to lend that will ensure loan to value and other performance metrics are good.

Good luck