Knowledge/Experience with Cope Equities in DFW Area?

[Donna Johnson]

Anyone invest with these builders or thoughts about doing so?  They are currently offering 14% up to 20% on a particular project they are working on.  If it sounds to good to be true.......or opportunity knocks?

From Cope Equities:

"This project is already begun – no risk of it not starting – it already started, a $44 million dollar project ($29 million in costs, approximately). We did not fund the last few million of the raise, so we are allowing the final slots to come in at up to 20% APR, fixed annual simple deferred return (deferred means you get all of your interest earnings at the end when we repay your principal – and that happens when we finish building and then sell the apartment complex).

This asset is our safest MF asset, in my opinion, BECAUSE the project is backed not just by our equity in the apartments – but by our equity in the entire 54-acre land development.

There is $15 MILLION of equity there – meaning of course that the project is worth (apartments and surrounding land) $15 million more than what we owe to ALL banks and investors involved in the project. So your investment will be covered by millions and millions of dollars worth of equity based on recent appraisals."

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