Forums » Ask About A Real Estate Company » Trada Properties...anyone ever bought a 4 plex from them

Trada Properties...anyone ever bought a 4 plex from them 15 posts by 13 users (locked)

girl12345

Posted: 09/22/2007 at 09:51AM

I am considering buying a 4 plex from trada...they build it new and when its ready for occupancy you start your mortgage... :shock:

Sponsors:

Marco S.

1 post

Posted: 11/03/2007 at 10:53PM

Hello girl12345,

I see that nobody has replied to your question here...

Trada is actually one of our (friendly) competitors - we both develop investment real estate for investors around the country.

In my experience in talking with other investors that have also done business with our company, I can tell you that I have never heard any complaint about them or the quality of their builds. In fact we took a close look at one of their 4-plex developments as a possible " featured investment" for our large investor network.

The bottom line, which we always tell our clients, is to do your homework (due diligence) and satisfy yourself that the investment is solid and will provide you with a positive cash-flow. If they can't provide you the information you need, then I suggest leaning on another seasoned investor for some guidance in doing your due diligence.

Continued Success,

Jeff W.

Real Estate Investor
Oakland, CA

59 posts

Posted: 04/02/2008 at 10:41PM

Dear girl12345,
I purchased a duplex (actually 2 townhomes) from Trada last summer. Did you go ahead with them? If so, I'd love to talk with you!

Jeff W.

Real Estate Investor
Oakland, CA

59 posts

Posted: 05/01/2008 at 07:29AM

Trada just closed their doors.
Anyone else out there stuck with a mess?

Stacy B.

Accountant
santa barbara, CA

1 post

Posted: 07/14/2008 at 06:39PM

we are trying to figure out a property Trada has in Texas and saw your post. We have uncovered very little in the way of information about what is going on. to make matters worse the contact we have has been evasive in answering our questions.

Stacy

D B.

2 posts

Posted: 07/18/2008 at 10:14AM

Are you talking to someone from Trada or an owner who bought a property from Trada. I understand that Trada has basically shut down and gone out of business. I am not sure what is happening with the sites they were currently developing or marketing.

Vimal S.

1 post

Posted: 07/18/2008 at 12:16PM

Weissman and others,

I am in the same mess as some others with investment in pre-construction 4-plex in Faith Landing, Caldwell, Idaho. I wasn't aware that Trada had closed down and I'am interested to know if folks are filing for a lawsuit, etc to recover their down-payment etc.

Looking forward to hearing from any other Trada investor.

Scott H.

Real Estate Consultant
Overland Park, KS

1 post

Posted: 07/22/2008 at 02:17PM

I'm a realtor in KC and found an expired listing they had while doing a comp search. I had never heard of them, so I was doing research and found this forum. Their phone numbers in MLS are for CA, so your comments are interesting. Foreclosures of these properties are starting to pop up. I work with investors (and we have a property management company too) and could possibly help out. Let me know what I might do for you.

Scott

Andy N.

3 posts

Posted: 07/29/2008 at 09:00PM

The owner of Trada Group was originally Kevin Geddes. John Sieckert seemed to be the face guy and maybe predecessor? Faith Landing is suppose to be headed up by Joe Nunley. Trada may be dissolved which is why they may be difficult to get ahold of.

Beginning: Trada sends you a great looking" pro forma and has you sign a contract. You sign, and put a deposit down. $10k less if you use one of two of their mortgage brokers. The date of completion is unbeknownst to the future owner.

Middle: You close escrow and try to get ahold of Property Management aka Trada. The past President Debra Westby (and overseer of one of the projects) has told me to call my designated PM and that if she is fielding calls like this, that she can't get residents into my home. Well, I stopped...and I still didn't get a fully leased unit.

End: After two years of property mgmt (shoddy in my opinion since I had 1 month of a fully leased building in the 2 years with them), they pass onto Bristile Property Management. Aubrey Brisendine is owner and was with Tierra Capital. Look up BOTH companies.

Now: If you are serious about discussing, please respond to this email. I am forming many alliances to try to help the sticky situtation that people are in. I am NOT buying property, nor selling. I am just getting owners in contact with other owners to find out what they can do to remedy the situation.

Ej V.

11 posts

Posted: 08/18/2008 at 01:44AM

Vogt vs. Trada lawsuit in Kendall County Texas is set for trial Sept. 2,2008 after several years for delays from Trada. Issue of Trada building on a deeded easement and flooding neighbor. Past property delevopemnt manager has filed $75,000. mechanics lien, multiple other liens, etc.
would like too hear from past employees.
thanks

Manohar H.

1 post

Posted: 08/18/2008 at 01:12PM

Is there anyone who bought in Forest creek properties in Round Rock, tx.
If could you tell us what is happenning there.

Ej V.

11 posts

Posted: 08/25/2008 at 12:31PM

Trada's attorney for Texas is bailing on them, Marin, and other defendants.
Looks like bankruptcy for Trada VI so that the limited partners will be on the hook for the amount of their investment.
Also appears Boise office closing with their furniture being repo'ed.

Joseph K.

Inspector
san jose, CA

9 posts

Posted: 08/25/2008 at 03:56PM

S**t. I am screwed! Can you elaborate a bit? Are they in fact bankrupt? I bought their property in Caldwell, ID. Now what is going to happen to my deposit? I don't even know if they still have the deposit or they spend it. Will I be in line to collect something in bankrupcy?

Mike A.

2 posts

Posted: 08/28/2008 at 07:57AM

I bought from Trada in Kansas City and in Texas. I had a good experience with them compared to my SFH's in Vegas. I heard they have so many people that have deposits that can't close that is why they have went out of business. A developer in Vegas I bought a condo from just went out of business for the same reason.

Jon H.

Real Estate Investor
Denver, Colorado

Moderator

3993 posts

Posted: 08/28/2008 at 11:15AM

Please post any further replies in the main Trada thread.