Anyone have any Farmfolio Experience?
New to Real Estate · Central Vermont · Member since 2021 · 6 posts · 3 votes
So I was listening to an episode of the BP Podcast and heard a sponsor spot for Farmfolio and found the concept kind of interesting and worth a bit or research. Just wondering if anyone has had any experience/success/input from using it. From the website and information packet I read through it seems like a good way to dip a toe into farmland investing but haven't really been able to find any independent reviews or feedback that isn't posted directly on their website.
@Gina Washburn I have the same experience. I spent a little more though. My LOT was $32,500 and then they added the FOA to cover the first 2-3 years. It was still under $38K in total. I think late 2023 was supposed to be the first year we saw profit. We didn't. 2024 was supposed to be a profit year. It wasn't. Their updates state that they expect 2nd quarter to be the winner. We will see.
Good news....they haven't asked us for any more money....yet. So far, the FOA is covered by the fruit production. So, hopefully that continues. I would hate to go backwards. Ug.
I would be interested to hear others' experience as well. Not much in terms of online reviews as far as I can tell
I would be interested to hear others' experience as well. Not much in terms of online reviews as far as I can tell
I also invested with them in 2022 and STILL haven't seen a payout. I've requested my lots be sold and that has been over a year!
Margaret
@Gina Washburn I have the same experience. I spent a little more though. My LOT was $32,500 and then they added the FOA to cover the first 2-3 years. It was still under $38K in total. I think late 2023 was supposed to be the first year we saw profit. We didn't. 2024 was supposed to be a profit year. It wasn't. Their updates state that they expect 2nd quarter to be the winner. We will see.
Good news....they haven't asked us for any more money....yet. So far, the FOA is covered by the fruit production. So, hopefully that continues. I would hate to go backwards. Ug.
@Gina Washburn I have the same experience. I spent a little more though. My LOT was $32,500 and then they added the FOA to cover the first 2-3 years. It was still under $38K in total. I think late 2023 was supposed to be the first year we saw profit. We didn't. 2024 was supposed to be a profit year. It wasn't. Their updates state that they expect 2nd quarter to be the winner. We will see.
Good news....they haven't asked us for any more money....yet. So far, the FOA is covered by the fruit production. So, hopefully that continues. I would hate to go backwards. Ug.
Invested 3 years ago like others about $40,000 total which included covering operational cost for the first or so. Was told I could expect a small return year 1 or 2 but nothing so far. Was told not to invest unless I was in for 10 years minimum. But now year 3 I would like to see something as I am becoming doubtful as to the legitimacy of the organization. Was somewhat glad to see I’m not alone so hopefully there is some kind of safety in numbers.
Looked at them several years ago. We didn’t since we already have teak plantations in Belize and didn’t need to add that type of diversification.
Our Grafted lime trees put a little production in year 2 and 3 but nothing noteworthy. Their return would be backend loaded years 4 thru 10 and further out. There is more maintenance cost when they are small keeping the grass down. Dont trust me. Google. Our Tahiti lime tree which is about 20 years old produced about 300 pounds of fruit. But we don’t maintain the tree. I would say only 1/2 would make it thru their quality check for size and color. They have a very consistent package. Hopefully they moved on to a juice processing plant for culls.
They added their own sorting plant which made for a more consistent product size and color. Thus more marketable.
They looked like a good diversification investment. Plus lime is increasing in usage.
Downsides. Just to consider, doesn’t necessarily apply to them.
1. Greening disease- worldwide citrus has been impacted by greening disease. Their fields looked very healthy but a question you can ask them. Bananas and coconuts have similar disease issues.
2. You’re a captured producer. Limes arent worth anything without their marketing. Looks like they made great inroads into the European and U.S. markets. Find their marketing name and last I checked they were in the large stores in the U.S.
3. Foreign currency translation
4. Government support is great. They are a large exporter for Columbia.
5. There were a few other good and bad items.
Believe the COO is on BP although he doesn't frequent. You might reach out to him.
UPDATE: Farmfolio just sent out demands to all owners of the Fronterra Lime Farm investment that we all owe $1,083 as a special assessment. This is after the projected year of profit starting in 2023. So far no money received, and now we are being asked to fund $1,083 or risk our lots be sold. UG. PLEASE use caution when investing with Farmfolio.
Same story here. They just teased a first time payout and now they are saying the following:
"I hope you are doing well.
We wanted to notify you that the scheduled payment has been delayed due to the synchronization and due diligence processes currently being completed with AppFolio. At this time, we are awaiting final confirmation/action from their team in order to proceed with the payment.
This is a one-time setup process related to our first payment through the system. Once this initial configuration is completed, we expect future payments to be processed more efficiently and with a more agile timeline.
We understand the importance of timely payments and apologize for the inconvenience this delay may cause. Based on the current status, we expect this matter to be resolved soon and the payment to go through shortly thereafter.
We will continue monitoring the process closely and will provide an update if there are any further delays.
Thank you for your patience and understanding.
Best regards, The Farmfolio Team"
Bought 2 lots in Rio Alto back in 2021....this past Dec (2025) received notice of a Special Assessment to keep the farm running. Hard pass....I'm told my lots will basically be foreclosed on and sold for whatever is owed. I don't know who would buy them, but I am hoping for a loss statement to claim on my taxes. Chances of that? Low....
I remember having a couple of conversations with Oscar the CEO. When I asked about the returns he said "we weren't wrong we were just late". Nope, wrong, late and now it seems like they may be out of business.
Scam.....
Bought 2 lots in Rio Alto back in 2021....this past Dec (2025) received notice of a Special Assessment to keep the farm running. Hard pass....I'm told my lots will basically be foreclosed on and sold for whatever is owed. I don't know who would buy them, but I am hoping for a loss statement to claim on my taxes. Chances of that? Low....
I remember having a couple of conversations with Oscar the CEO. When I asked about the returns he said "we weren't wrong we were just late". Nope, wrong, late and now it seems like they may be out of business.
Scam.....
Practically all their projects in Colombia are closed, DAX is on the run in USA and Oscar the "CEO" of almost everything is cashing out on his own... Just Burroteka's assets were sold and the money collected by Oscar B.....a deep and pure Scam, all planned since the beginning
The founder, Dax Jonathan Cooke is a convicted fraudster. You just have to google his name followed by scam or fraud and you'll find many articles. It's probably the reason he stepped down as CEO and put Oscar in his place.
They owe employees and contractors plenty of money.
The founder, Dax Jonathan Cooke is a convicted fraudster. You just have to google his name followed by scam or fraud and you'll find many articles. It's probably the reason he stepped down as CEO and put Oscar in his place.
They owe employees and contractors plenty of money.
Just need to check the site www.nomasfarmfolio.com to see the scum they made in Colombia and Panama, among other things