All Forum Posts by: Sam Wilson

@Carrie Young Excellent analysis. We will recover in total about 50% of our initial investment in this as we too were early to the table and elected to not reinvest. Unfortunately...I happen to have a front row seat to the Touzi one as well. Good times.

Basically- As investors, we're hosed. If you think otherwise I'd love to hear it, but this is not the first time a company has gone belly up and investors have lost all their principal. The likelihood that any scraps will be left after the lawyers get paid and other suits are settled is quite low. Any return of principal- 10% would be a home run in my opinion.But that too seems statistically unlikely. If you've not read Debt Cleanse, you should. It will give you insight into how Jorge will think about your investments. Chalk these losses up to tuition.

I've not heard a thing. Checked info online and should be getting some sort of updates, but nada. If y'all here of a webinar etc I'd be grateful if you posted it here!

yep, you're not wrong. What I have found is that we can get the house set/landscaping/driveway done turnkey for the same or less cost than what clayton homes charges to just set the house. They like to 2.5x the cost of anything just because it says Clayton Homes on it. It is akin to adding the word "wedding" to anything. Suddenly the price skyrockets for no apparent reason.

I have a few lots in Rock Hill, SC that have previously had manufactured homes on them (mobile homes not modular). We want to find a contractor/turnkey company that can handle the whole process of setting the home/driveway/landscaping/ ready for sale.

We have such a provider in another area, but not any contacts in Rock Hill. Does anyone have a recommendation for a turnkey company like this?

All the big players such as Clayton etc all set the house only, but don't have the finer details.

I'm in the middle of a few deals like this now unfortunately. It seems the finger pointing happens when things go south. I believe the best course of action right now is to assume that this all ends in nothing for the investors and attorneys fees for the attorneys. After that, I expect very little. A bit of a bummer but I guess this is the way it goes when we venture into less tried tried and true investments. If anyone does have a webinar replay link I would love to get a copy of that. Thank you. I never received the initial invite.

@Jorge Newbery thank you for the reply. I'll look for the webinar.

We invested via a retirement account. The K1 was irrelevant...was. As of now, we have zero documents in the portal. EVER. Not sure where they went.

I saw what they were doing as bulletproof- as in- buying notes for pennies on the dollar, working out most of them for massive discounts to borrowers and splitting the returns with investors. 

What can go wrong? A lot obviously. The devaluing of those notes by fixing the interest so low seems to be the real kicker that made the fund's intrinsic value decline, performing or not no one wants them on the secondary market. Sound right?

This is disheartening. I haven't seen any information about webinars/ updates etc. I just saw them go dark and that was it. I've tried to contact for 3 weeks now, with no reply. Anyone have a link for another scheduled webinar or a place to sign up for any communications?

@Marcus Hill -  Why you might not "need" an accountant with just two properties, I think having one is an excellent business decision.  They know the tax law/rules WAY better than non-experts (like me) could ever learn.  Our accountant not only keeps us out of trouble with the IRS but uses the rules to keep us from paying any more taxes than we already do!