For other depreciation: When placing a property in service late in the year, depreciation is prorated based on the mid-month convention for residential rentals.

By the time the cops get there even with best efforts it might be too late.

I'm speaking up because the Djuric Family Office failed to operate the deal according to the promises they made to investors.Promised -> Received- Quarterly investor reports -> were either not received unless I asked for them, or they were received 2-3 months late.- K-1s by end Q1 -> K-1s received Sept-Oct every year.- Robust investor portal -> portal not actively used.- Direct investment in the deals -> one of the deals turned out to be a fund of funds investment.- Prompt & transparent communications -> very poor, e.g. in Apr 2024 I was informed the property had been foreclosed in Dec 2023. - Lead operator in the deals -> well not really. 

I will use the rest to pay off about half of the hard money loan for the 4 plex as well as finish the rehab.

A national builder is under contract to purchase all the finished lots to construct the units.

From beginning to finish, this project took us 16 months and were 100% leased within 30 days.

I know as the Lender, I always have the option to modify things but the NoD helps set the stage if the borrower doesn't act or respond in a way I feel is beneficial to getting the project across the finish line and me my capital back.     

Lately, I've started thinking maybe these people are wholesalers or investors that could have properties to sell.

Therefore, it can't add automatic late fees, send email reminders or track per property. 

We have lots of automated processes - All online rent collections, inquiries, signature requests, and late fees.