All Forum Posts by: Paul Chapey

@Bob Malecki That's an interesting comment about you not accepting new subscriber capital.
During the recent AHP webinar, Jorge Newberry showed three pools they are currently negotiating on. They would require an additional 25 million raise.
I was shocked because they don't have anywhere near that amount of cash on hand, nor a credit line to draw on.
Newberry was asked if he felt confident that he could raise that amount. He stated that he was.
It seems like a stretch since AHP Servicing has only raised around 17 million to date.

@Linda Hastings Thanks. I watched the webinar and noted his mention of mid March. That was enlightening information as his customer relations department has refused to provide any yardstick or timeline on redemption progress.
 
On the same day, March 23, I requested a partial 60K redemption from Iron Bridge. They responded immediately, and the funds were wired on March 25. 

The customer relations guy at AHP, on the other hand, provides vague responses to my emails that come precariously close to just blowing an investor off with BS.

I requested a partial redemption on March 23. Initially, I was told it would take 60 days. I'm still waiting and have yet to get even an estimate of when I can expect the return of these funds.

If you're around Mooresville, there's a nice one under construction on W. Lowrance, about half a mile from the golf course.

I requested a partial redemption on March 23. I was informed it would take 30 days. After 30 days, I emailed and requested the redemption. They responded it will take 60 days from the date of request. 
What's annoying is that now I feel like I'm chasing my money. They could have sent me notification at some point that they will not be redeeming in 30 days but instead 60. They were not proactive. 
This is not the way investors should be treated.

AHP has an investor portal. It's decent.

AHP needs to communicate more frequently and effectively with investors. They're always behind problems and glitches. They should always be in front of any difficulties, not playing catchup with silly excuses.

They're not well buttoned up at all. Investors want transparency, the more the better.

@Adam Sciupac How did you find this deal? Was it publicly offered?

@William Allen The best source for contractors in the Charlotte area is the private Facebook group "Charlotte Reak Estate Investors." It's a huge group with lots of sharing members.

@Amanda K. Good catch. My email also says March. I didn't notice that. Late tax forms without communication,  late payment, email error and no portal update — inexcusable and concerning. 

@Amanda K. About an hour after posting, I received an email stating that I was paid. Payment isn't showing on the portal yet.