Who Has Done a Syndicated Deal with Scott Meyers?
I'm looking to invest some funds with Scott's platform. Just curious on feedback from members on the forum how their syndications went/are going. I know he's considered the guru around these parts and has educated many a folk.
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As Jeff very nicely pointed out, I am deeply concerned about Tricore Fund I and will not be investing again with Scott. It's nothing personal, just business. Communication was rocky from the start and the repeated attempts to boost occupancy have done nothing but slide downward month to month. I'm at the point where I want them to liquidate even at a slight loss. It's time for the portfolio to trim some losers or actually refinance when they say they will. Tons of overpromising and hand waiving rather than results. IRR is dropping like a rock, and it's clear to me inadequate sensitivity analysis around interest rates and occupancy stabilization was done. The Canton facility has hovered near 10-12 percent occupancy since last year and utility expenses are 4x what other facilities in the portfolio exhibit. Investing in Ohio requires stupidly complex K-1 forms for the invididual partner (I'm a sucker for doing my own taxes). Sure, the interest rate environment has changed. Sure, cap rates have changed. But that does not change the fact that occupancy is dismal.