Disclosure - I've never invested with Summit Capital Partners but know their projects, and know a few investors who have put money in. All the people I know that invested with them invested pretty recently, so too early to see what the results are.
Looking at their numbers "too good to be true" is accurate. My concerns with them would be:
1. They have changed business names and had (I believe multiple) bankruptcies in the past
2. They claim returns that would make any investor salivate, but market towards new investors with small investments required ($50k for instance). If the returns are so good I would assume they could target higher net worth individuals, and the fact that they cobble together a bunch of beginners $50k investments is a red flag for me.
3. If they hit their numbers they would be leaving hundreds of thousands of dollars on the table by financing with equity instead of debt. Any investor with this track record should have access to debt at 10% interest with 1-2 points, or potentially even less for someone their size. The fact that they're not taking debt makes me think they know something you don't.
As with all things, if you feel like you're being pitched or sold, you probably are.
