Syndications with BAM, Ashcroft, and/or Praxis

Multi-Family and Apartment Investing
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Syndications with BAM, Ashcroft, and/or Praxis

Joseph S.
Investor · Lynchburg, VA · Member since 2016 · 37 posts · 24 votes

I'm considering making my first investment in syndications and am considering BAM, Ashcroft, and/or Praxis. Most of the reviews of these folks are quite dated, so I was wondering if people could offer more current perspectives or experiences they have had with them. In particular I'm considering BAM's Westgate property in Bloomington, IN and Ashcroft's Fund III that has properties in Sarasota, FL, Ft. Lauderdale, FL, and Chapel Hill, NC. I'm still getting access to Praxis' opportunities.

I'm less interested in current income and more interested in growth and building wealth. All perspectives appreciated.

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Chris SeveneyBusiness Member
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Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
2y

@Jim Pfeifer

And since BP doesn’t like self promotion and Jim is very humble - he runs a group called left field investors which I can brag about since it’s not my group

Strongly recommend those who invest passively to give it a look.

Tons of great content, people and information

7e investments53 Reviews
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  • Jon Gardner
    Member since 2025 · 6 posts · 2 votes
    9mo

    Yes, they had an account manager named Evan tell me to invest with them in 2022 right before interest rates went up.  I told him "NO" because they were going to take out adjustable rates (with rate caps).  He told me we will be selling the whole portfolio within 1 year (a quick turn around).  I fell for his sh*t and invested.  The distributions stopped in 2023 and now I am only going to get back 25% of my investment.  Yes, I signed the papers and tool his word for it.  But now you have many LP's that are losing a lot of money.  I am not an expert and took there word for it.  They got greedy and paid too much at the wrong time while selling us that a portfolio of properties is 2.7 time safer than buying one property.  Are you invested with them?? 

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    • Joseph S.
      OP
      Investor · Lynchburg, VA · Member since 2016 · 37 posts · 24 votes
      9mo
      Quote from @Jon Gardner:

      Yes, they had an account manager named Evan tell me to invest with them in 2022 right before interest rates went up.  I told him "NO" because they were going to take out adjustable rates (with rate caps).  He told me we will be selling the whole portfolio within 1 year (a quick turn around).  I fell for his sh*t and invested.  The distributions stopped in 2023 and now I am only going to get back 25% of my investment.  Yes, I signed the papers and tool his word for it.  But now you have many LP's that are losing a lot of money.  I am not an expert and took there word for it.  They got greedy and paid too much at the wrong time while selling us that a portfolio of properties is 2.7 time safer than buying one property.  Are you invested with them?? 


       I'm not. I'm curious how you thought about portfolio management and if you diversified into a number of deals/sponsors or if you really doubled down on them alone. I'm just surprised and saddened that this one fund single handily ruined your financial future.

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  • Jon Gardner
    Member since 2025 · 6 posts · 2 votes
    9mo

    They did good during the good times for me.  I trusted them.  What I did not know is how bad they would be during the bad times, ie rates going up/market changing.  I am in 4 deals with them and all of them are bad..... THEY RUINED MY FINANCIAL LIFE. 

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  • Jon Gardner
    Member since 2025 · 6 posts · 2 votes
    9mo

    3 out of the 4 are post 2022.

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  • Joseph S.
    OP
    Investor · Lynchburg, VA · Member since 2016 · 37 posts · 24 votes
    9mo

    @Todd Dexheimer This is the entirety of what you said with regard to Brian's Senior Housing Syndication: 

    "If Brian has the operations down, the assisted living can do well. If that struggles, then belly up they go." I maintain that is not very helpful or insightful but I guess to each his own. 

    Then you mentioned your own back and experience and that it is a complicated industry, which I can definitely appreciate. 

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  • Jason Merchey
    Investor · Hendersonville, NC · Member since 2013 · 757 posts · 282 votes
    7mo

    Well maybe you are correct so thank you for the clarification.

    I'm just pleased that the operators/lessees of said commercial spaces are senior-healthcare-and-living-related, that is slated to be a good sector going forward.

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