Norada real estate

Investor · Visalia, CA · Member since 2015 · 6 posts · 2 votes

I see several positive posts regarding investing thru norada 7 mos ago but would love to hear from anyone with more recent dealings with them. I am in the process of looking at turn key investments in Memphis, Kansas City and Indy. So far my dealings with norada have been professional. Does anyone have a long term relationship with them who'd care to comment?

Lori flaherty

Visalia, cal

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Todd Krzeminski

Rental Property Investor · Northern Virginia · Member since 2015 · 106 posts · 51 votes

10y

This week I closed on my second property with Norada. You hear a lot of negative feedback on BP about Turnkey operators, and I'm sure they're not all professional and trustworthy, but I've had a great experience with Norada. When I had an issue arise during the closing process, I was able to turn to my investment counselor (Steve Olson) for input. In this case, he actually went the extra mile to negotiate a contract change with the seller due to my concerns. For a new investor, it's nice to know you're not on an island all by yourself trying to figure it all out.

I did travel to Indianapolis to visit the team on the ground. I was very happy with the operation and I was able to see properties throughout the different stages of renovations. I wouldn't say it was necessary, but it did give me a sense of what I was buying. It was also nice to meet the team I'd be interacting with throughout the process.

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David Kanarek
Member since 2023 · 65 posts · 52 votes
2y
How dare you mention my children as you continue to defend the indefensible !!

Take note everyone considering working with Jay Hinrichs of BrokerLake Oswego OR Summerlin, NV
This is clearly someone who either does not know right from wrong or even worse, does know but defends wrongdoing and his lack of any kind of moral base doesn't allow himself to criticize bad behavior. Do you really want to work with or listen to that kind of a misguided business person? I wouldn't trust him to sell my dog's house 🏠

I call on anyone who has had a negative experience with Jay to please post about your travails with him or his business we can all be forewarned of what he is capable of doing
Quote from @Account Closed:

Quote from @David Kanarek:

Quote from @Jay Hinrichs:

Quote from @David Kanarek:

I can not believe that I actually have to explain this:

He continued to publicize, search out and NOT disclose any of the difficulties his business was in. He also did not disclose that he had already 3 days before suspended payments. He is in a lot of trouble, and the fact that you don't see this as wrong, immoral and probably illegal is a clear indication that you are not impartial. Why do you think the SEC is investigating this if it was all perfectly legitimate? If you are working for Norada, you should publicly declare that. In any case STOP BLAMING INVESTORS FOR THE WRONG DOING OF OTHERS !

Quote from @Jay Hinrichs:

Quote from @Chris Seveney:

Quote from @David Kanarek:

I was made aware this weekend by one of the investors on our Facebook group that Marco Santarelli on June 18th, 2024, held a "web seminar" again soliciting investors. This would be 2 days before he announced in his June 20th email (which I believe you have) that he was suspending payments to hundreds of investors because of financial problems.He did not disclose anywhere in the webinar (48 hours before the email) the difficulties that his business was experiencing which was laid out in the email 2 days later. This would appear a blatant disregard for disclosing to would be new Investors information that would have been needed to make an informed investment decision.Perhaps you already have this YouTube video. I was sent the link yesterday and here it is:https://m.youtube.com/watch?v=8QPipxwcGMg&feature=youtu.be

Dave
I watched some of this and what caught me by surprise not knowing much about Norada is:
1. he was upfront that only like 6% of his portfolio is in real estate. Were investors aware of this?
2. He mentions the risk involved in this, and that is it very high risk.
3. He also mentioned he sent out some financials but did not have cashflow statements from his book keeper and he would have those shortly. There is the potential (again depending on how often he does his books) - that he literally did not know there were concerns on the cash side of things.
I went and reviewed a webinar from August 2023 where he noted he got out of a lot of real estate investing and investing in five categories: Ecommerce 33%, educational masterminds 55% (and lists them), broadway musical and very minor in real estate and crypto. He also mentioned he never did miss a payment during this webinar.
Has anyone asked When did you realize there were issues? Was there a PPM as part of this offering? I have not heard anyone comment whether there was a PPM?
My last question based on above is, curious is, is this worth continuing discussion here on BP? This is not a real estate fund.

As all of this Norada notes flush's out its very clear to me the investors really did not understand the risks and that the risks were pointed out but investor greed for return over rode the risks.. now that these highly risky business's are not working its got to be the sponsor who is at fault and the poor investor was duped.. This is nothing more than disgruntled investors not taking personal responsibility for their choice of investment .. This is no different than picking a high risk stock and the stock goes bust.. Or those that leverage bit coin at the wrong time and lost hundreds of thousands on that play.. and for sure character assassination on the internet is not going to right the ship crazy

I do not work for Norada I have never met Marko.. my points are that you folks simply did not do enough due diligence up front and were blinded by the high returns and clearly did not understand the risks of unsecured notes/Junk bonds.. Its known as the greed factor.. U only post your versions of this that supports your narrative...

Give Marco my best.
You are as dishonest, disingenuous and corrupt as he is. At least he has the excuse of pocketing millions. What do you get out of this? Your lack of empathy and defensive of this disgusting behavior make me want to vomit.

SHAME ON YOU FOR NOT CONDEMNING THIS OUTRAGEOUS BEHAVIOR AND YOUR COWARDICE !!
Get help David. The kids on your Facebook profile need you to stay rational and provide for them. You are losing it my man. Jay is only telling you the truth and it hurts but it will get better with time.

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David Kanarek
Member since 2023 · 65 posts · 52 votes
2y
btw, are you the same Jay Hinrichs of "TRUE "WHOLESALE HOUSES" that was sued by the STATE OF OREGON-DEPARTMENT OF CONSUMER AND BUSINESS SERVICES DIVISION OF FINANCE AND CORPORATE SECURITIES?

If so, perhaps you could tell all of us what that was about.....

Here are the details:

Quote from @Account Closed:

Quote from @David Kanarek:

Quote from @Jay Hinrichs:

Quote from @David Kanarek:

I can not believe that I actually have to explain this:

He continued to publicize, search out and NOT disclose any of the difficulties his business was in. He also did not disclose that he had already 3 days before suspended payments. He is in a lot of trouble, and the fact that you don't see this as wrong, immoral and probably illegal is a clear indication that you are not impartial. Why do you think the SEC is investigating this if it was all perfectly legitimate? If you are working for Norada, you should publicly declare that. In any case STOP BLAMING INVESTORS FOR THE WRONG DOING OF OTHERS !

Quote from @Jay Hinrichs:

Quote from @Chris Seveney:

Quote from @David Kanarek:

I was made aware this weekend by one of the investors on our Facebook group that Marco Santarelli on June 18th, 2024, held a "web seminar" again soliciting investors. This would be 2 days before he announced in his June 20th email (which I believe you have) that he was suspending payments to hundreds of investors because of financial problems.He did not disclose anywhere in the webinar (48 hours before the email) the difficulties that his business was experiencing which was laid out in the email 2 days later. This would appear a blatant disregard for disclosing to would be new Investors information that would have been needed to make an informed investment decision.Perhaps you already have this YouTube video. I was sent the link yesterday and here it is:https://m.youtube.com/watch?v=8QPipxwcGMg&feature=youtu.be

Dave
I watched some of this and what caught me by surprise not knowing much about Norada is:
1. he was upfront that only like 6% of his portfolio is in real estate. Were investors aware of this?
2. He mentions the risk involved in this, and that is it very high risk.
3. He also mentioned he sent out some financials but did not have cashflow statements from his book keeper and he would have those shortly. There is the potential (again depending on how often he does his books) - that he literally did not know there were concerns on the cash side of things.
I went and reviewed a webinar from August 2023 where he noted he got out of a lot of real estate investing and investing in five categories: Ecommerce 33%, educational masterminds 55% (and lists them), broadway musical and very minor in real estate and crypto. He also mentioned he never did miss a payment during this webinar.
Has anyone asked When did you realize there were issues? Was there a PPM as part of this offering? I have not heard anyone comment whether there was a PPM?
My last question based on above is, curious is, is this worth continuing discussion here on BP? This is not a real estate fund.

As all of this Norada notes flush's out its very clear to me the investors really did not understand the risks and that the risks were pointed out but investor greed for return over rode the risks.. now that these highly risky business's are not working its got to be the sponsor who is at fault and the poor investor was duped.. This is nothing more than disgruntled investors not taking personal responsibility for their choice of investment .. This is no different than picking a high risk stock and the stock goes bust.. Or those that leverage bit coin at the wrong time and lost hundreds of thousands on that play.. and for sure character assassination on the internet is not going to right the ship crazy

I do not work for Norada I have never met Marko.. my points are that you folks simply did not do enough due diligence up front and were blinded by the high returns and clearly did not understand the risks of unsecured notes/Junk bonds.. Its known as the greed factor.. U only post your versions of this that supports your narrative...

Give Marco my best.
You are as dishonest, disingenuous and corrupt as he is. At least he has the excuse of pocketing millions. What do you get out of this? Your lack of empathy and defensive of this disgusting behavior make me want to vomit.

SHAME ON YOU FOR NOT CONDEMNING THIS OUTRAGEOUS BEHAVIOR AND YOUR COWARDICE !!
Get help David. The kids on your Facebook profile need you to stay rational and provide for them. You are losing it my man. Jay is only telling you the truth and it hurts but it will get better with time.

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
2y
Quote from @David Kanarek:

btw, are you the same Jay Hinrichs of "TRUE "WHOLESALE HOUSES" that was sued by the STATE OF OREGON-DEPARTMENT OF CONSUMER AND BUSINESS SERVICES DIVISION OF FINANCE AND CORPORATE SECURITIES?

If so, perhaps you could tell all of us what that was about.....

Here are the details:

Quote from @Account Closed:

Quote from @David Kanarek:

Quote from @Jay Hinrichs:

Quote from @David Kanarek:

I can not believe that I actually have to explain this:

He continued to publicize, search out and NOT disclose any of the difficulties his business was in. He also did not disclose that he had already 3 days before suspended payments. He is in a lot of trouble, and the fact that you don't see this as wrong, immoral and probably illegal is a clear indication that you are not impartial. Why do you think the SEC is investigating this if it was all perfectly legitimate? If you are working for Norada, you should publicly declare that. In any case STOP BLAMING INVESTORS FOR THE WRONG DOING OF OTHERS !

Quote from @Jay Hinrichs:

Quote from @Chris Seveney:

Quote from @David Kanarek:

I was made aware this weekend by one of the investors on our Facebook group that Marco Santarelli on June 18th, 2024, held a "web seminar" again soliciting investors. This would be 2 days before he announced in his June 20th email (which I believe you have) that he was suspending payments to hundreds of investors because of financial problems.He did not disclose anywhere in the webinar (48 hours before the email) the difficulties that his business was experiencing which was laid out in the email 2 days later. This would appear a blatant disregard for disclosing to would be new Investors information that would have been needed to make an informed investment decision.Perhaps you already have this YouTube video. I was sent the link yesterday and here it is:https://m.youtube.com/watch?v=8QPipxwcGMg&feature=youtu.be

Dave
I watched some of this and what caught me by surprise not knowing much about Norada is:
1. he was upfront that only like 6% of his portfolio is in real estate. Were investors aware of this?
2. He mentions the risk involved in this, and that is it very high risk.
3. He also mentioned he sent out some financials but did not have cashflow statements from his book keeper and he would have those shortly. There is the potential (again depending on how often he does his books) - that he literally did not know there were concerns on the cash side of things.
I went and reviewed a webinar from August 2023 where he noted he got out of a lot of real estate investing and investing in five categories: Ecommerce 33%, educational masterminds 55% (and lists them), broadway musical and very minor in real estate and crypto. He also mentioned he never did miss a payment during this webinar.
Has anyone asked When did you realize there were issues? Was there a PPM as part of this offering? I have not heard anyone comment whether there was a PPM?
My last question based on above is, curious is, is this worth continuing discussion here on BP? This is not a real estate fund.

As all of this Norada notes flush's out its very clear to me the investors really did not understand the risks and that the risks were pointed out but investor greed for return over rode the risks.. now that these highly risky business's are not working its got to be the sponsor who is at fault and the poor investor was duped.. This is nothing more than disgruntled investors not taking personal responsibility for their choice of investment .. This is no different than picking a high risk stock and the stock goes bust.. Or those that leverage bit coin at the wrong time and lost hundreds of thousands on that play.. and for sure character assassination on the internet is not going to right the ship crazy

I do not work for Norada I have never met Marko.. my points are that you folks simply did not do enough due diligence up front and were blinded by the high returns and clearly did not understand the risks of unsecured notes/Junk bonds.. Its known as the greed factor.. U only post your versions of this that supports your narrative...

Give Marco my best.
You are as dishonest, disingenuous and corrupt as he is. At least he has the excuse of pocketing millions. What do you get out of this? Your lack of empathy and defensive of this disgusting behavior make me want to vomit.

SHAME ON YOU FOR NOT CONDEMNING THIS OUTRAGEOUS BEHAVIOR AND YOUR COWARDICE !!
Get help David. The kids on your Facebook profile need you to stay rational and provide for them. You are losing it my man. Jay is only telling you the truth and it hurts but it will get better with time.

No problem David if you would like to know .. One attorney told me I did not need a PPM for the business model and the state disagreed.. paid a small fine 5k created the type of PPM they wanted and that was the end of it Plus I did not get sued I got a cease and desist big difference which of course you simply dont know the difference .. This is public record I did not hire anyone to scrub it from google search's etc etc.. but thank you for pointing that out.. . I was not bared from doing any further business etc etc.. But while your investigating me look up my Brokers license in CA.. #00521387 U will see no complaints since the late 70s.. Anyway this attack on me sure shows how you deal with things you just like to blame everyone else but yourself.. And like to get on SM and ruin people if you can.. Of course with myself that simply wont happen :) I am very straight forward with my business anyone in our business has had bummer deals and lost money myself included.. I am not one of those guys who says I have been in bizz 50 years and never lost a dime.. there are very few folks that can say that if your actually doing any volume in the Real Estate world. The GFC wiped out a lot of folks I lost virtually all my net worth making sure my banks were all paid back.. Not one bank lost one dime with me.. I took the hit personally and had to start all over in 2010 .. I talk about this on the BP podcast I did and frequently on BP. The idea of BP is to help people and your situation and your fellow note holders is a perfect example of a cautionary tale .. And what we describe will help others not take on investments of a super high risk nature without being able to sustain if the investment is lost.

And finally how do we even know if you really are an investor and if you really lost any money and how much.. there is another thread on BP where someone like you ( major bone to pic) started flaming the company because they could not pay their interest payment or get a redemption and it boiled down to that individual had a 5k investment total .. I mean really ?

Also please see all the threads on other companies that were very well respected and liked for years on BP ton of investors and now they have had to stop payments do cash calls and in some cases have lost the entire property and wiped out the investors.. ODC AHP Ashcroft Radd Lane Kuaoaka to name just a few .. And from what I can see with these notes they have been rolled into equity so until that company goes BK or is liquidated the only thing that has happened to those investors is interest has stopped.. And by going on your mission to nuke the company and the sponsor you just dig yourself a bigger hole and are NOT helping the other investors get their money back.

I never mentioned your children as your family does not interest me this is all about as I noted teaching other members a lesson in how to assess risk in our industry.
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