Trada Properties...anyone ever bought a 4 plex from them

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,

Edited: 06/26/2010 at 04:12AM

Jeff Weissman

Residential Real Estate Agent · Oakland, California

68 posts
68 Influence
2 Awards

Icon_minipost Apr 02 '08, 11:41 AM

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!

Edited: 06/26/2010 at 04:58AM

Jeff Weissman

Residential Real Estate Agent · Oakland, California

68 posts
68 Influence
2 Awards

Icon_minipost Apr 30 '08, 08:29 PM

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

Edited: 06/26/2010 at 05:08AM

Stacy Borek

Accountant · santa barbara, CA

1 post

Icon_minipost Jul 14 '08, 07:39 AM

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

Edited: 06/26/2010 at 05:31AM

D Brown

4 posts
12 Influence

Icon_minipost Jul 17 '08, 11:14 PM

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.

Edited: 06/26/2010 at 05:32AM

Vimal Singh

1 post

Icon_minipost Jul 18 '08, 01:16 AM

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.

Edited: 06/26/2010 at 05:32AM

Scott Hannah

Real Estate Consultant · Overland Park, KS

1 post

Icon_minipost Jul 22 '08, 03:17 AM

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

Edited: 06/26/2010 at 05:33AM

Andy Nguyen

3 posts

Icon_minipost Jul 29 '08, 10:00 AM

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.

Edited: 06/26/2010 at 05:35AM

Ej Vogt

11 posts

Icon_minipost Aug 17 '08, 02:44 PM

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

Edited: 06/26/2010 at 05:42AM

Manohar Hiremagalore

1 post

Icon_minipost Aug 18 '08, 02:12 AM

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

Edited: 06/26/2010 at 05:42AM

Ej Vogt

11 posts

Icon_minipost Aug 25 '08, 01:31 AM

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.

Edited: 06/26/2010 at 05:45AM

Joseph Kon

Inspector · san jose, CA

10 posts

Icon_minipost Aug 25 '08, 04:56 AM

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?

Edited: 06/26/2010 at 05:45AM

Mike Ainge

2 posts

Icon_minipost Aug 27 '08, 08:57 PM

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.

Edited: 06/26/2010 at 05:47AM

Jon Holdman

Real Estate Investor · Denver, Colorado

11859 posts
75547 Influence
15 Awards

Icon_minipost Aug 28 '08, 12:15 AM

Please post any further replies in the main Trada thread.

Edited: 06/26/2010 at 05:47AM

Jon Holdman, Flying Phoenix LLC