You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Thoughts on Crowdfunding Real Estate
- Thread starter eyephone
- Start date
woodburyowner
Well-known member
I did POL and RM. Main issue I have is transparency and getting updates on the projects. There is a thread over at bigger pockets - topic ID 116851 which talks about POL.
woodburyowner said:I did POL and RM. Main issue I have is transparency and getting updates on the projects. There is a thread over at bigger pockets - topic ID 116851 which talks about POL.
What was your ROI?
woodburyowner
Well-known member
eyephone said:woodburyowner said:I did POL and RM. Main issue I have is transparency and getting updates on the projects. There is a thread over at bigger pockets - topic ID 116851 which talks about POL.
What was your ROI?
The RM investment was 9% and my POL investments are blended at 11.67%. One of the investments did not pay last month. This is where things will get interesting....
woodburyowner said:eyephone said:woodburyowner said:I did POL and RM. Main issue I have is transparency and getting updates on the projects. There is a thread over at bigger pockets - topic ID 116851 which talks about POL.
What was your ROI?
The RM investment was 9% and my POL investments are blended at 11.67%. One of the investments did not pay last month. This is where things will get interesting....
Not bad returns.
I also do POL. My ROI to date is between 11-12%. I haven't had any issues with them to date except for a few late payments (but all within the month). One even paid off months early. But there is definitely a lack of transparency which is probably most people's main criticism. I've only done a handful of deals - I'm pretty picky and some of the offerings are meh IMHO.
Woodbury - did you invest in the REIT at RM?
woodburyowner said:eyephone said:woodburyowner said:I did POL and RM. Main issue I have is transparency and getting updates on the projects. There is a thread over at bigger pockets - topic ID 116851 which talks about POL.
What was your ROI?
The RM investment was 9% and my POL investments are blended at 11.67%. One of the investments did not pay last month. This is where things will get interesting....
woodburyowner
Well-known member
eyephone said:Woodbury - did you invest in the REIT at RM?
woodburyowner said:eyephone said:woodburyowner said:I did POL and RM. Main issue I have is transparency and getting updates on the projects. There is a thread over at bigger pockets - topic ID 116851 which talks about POL.
What was your ROI?
The RM investment was 9% and my POL investments are blended at 11.67%. One of the investments did not pay last month. This is where things will get interesting....
No, I haven't done any additional investing in RM after the first investment was paid off. I think POL is a bit better for transparency. I sent in an inquiry on the loan that defaulted and I'm getting responses from the Chairman of the company!
woodburyowner said:eyephone said:Woodbury - did you invest in the REIT at RM?
woodburyowner said:eyephone said:woodburyowner said:I did POL and RM. Main issue I have is transparency and getting updates on the projects. There is a thread over at bigger pockets - topic ID 116851 which talks about POL.
What was your ROI?
The RM investment was 9% and my POL investments are blended at 11.67%. One of the investments did not pay last month. This is where things will get interesting....
No, I haven't done any additional investing in RM after the first investment was paid off. I think POL is a bit better for transparency. I sent in an inquiry on the loan that defaulted and I'm getting responses from the Chairman of the company!
Cool
Have you tried Rich uncles?
woodburyowner said:eyephone said:Woodbury - did you invest in the REIT at RM?
woodburyowner said:eyephone said:woodburyowner said:I did POL and RM. Main issue I have is transparency and getting updates on the projects. There is a thread over at bigger pockets - topic ID 116851 which talks about POL.
What was your ROI?
The RM investment was 9% and my POL investments are blended at 11.67%. One of the investments did not pay last month. This is where things will get interesting....
No, I haven't done any additional investing in RM after the first investment was paid off. I think POL is a bit better for transparency. I sent in an inquiry on the loan that defaulted and I'm getting responses from the Chairman of the company!
So what's going to happen in that situation? Does the loan go in default?
woodburyowner
Well-known member
eyephone said:So what's going to happen in that situation? Does the loan go in default?
POL is trying to get the borrower to pay with the notice of default. Issue is that he is waiting in an insurance payment for something that happened on the property. He spent money to fix it and can't pay the investors. He needs to give proof to insurance company that everything is fixed. Supposedly once this happens the insurance money will be used to pay back investors. Worse case, POL sells the property and makes more money than was loaned due to the amount of equity in the property. Then investors would get back even more than expected.
Chairman is telling me they don't want to be too aggressive or else the situation might look predatory. From everything he is saying, I'm not too worried about the situation. Other investors who ran into similar issues actually end up with more return that expected due to all the late fees and penalties from the borrower.
woodburyowner said:eyephone said:So what's going to happen in that situation? Does the loan go in default?
POL is trying to get the borrower to pay with the notice of default. Issue is that he is waiting in an insurance payment for something that happened on the property. He spent money to fix it and can't pay the investors. He needs to give proof to insurance company that everything is fixed. Supposedly once this happens the insurance money will be used to pay back investors. Worse case, POL sells the property and makes more money than was loaned due to the amount of equity in the property. Then investors would get back even more than expected.
Chairman is telling me they don't want to be too aggressive or else the situation might look predatory. From everything he is saying, I'm not too worried about the situation. Other investors who ran into similar issues actually end up with more return that expected due to all the late fees and penalties from the borrower.
Good to know.