Looks like the 2nd month of no distributions for me, how about you guys? I emailed RS last month, and got a reply about onboarding someone to take care of distributions - looks like it never happened, or the info I received was not accurate.
So should we assume the sponsors are paying RS, and RS is simply not distributing? Any way to track down the exact situation? My latest email to RS got no reply.
Didnt RS announce a few months back they were not going to be doing any new deals? At the time I think I said, sounds like its only a matter of time til something like you are describing was going to happen.
@Russell Brazil yes they did.... it's a sinking ship.
Yes, its certainly not an encouraging sign. Not like any of us could have gotten our investments out when things started going sideways.
Still interested in hearing advice on tracking down more details, or perhaps how to get the proof needed to declare a loss on the old tax returns, ha!
Just wanted to add an update that a couple payments from RS just posted.
Checking the details on the RS site they are appropriately designated as the missing Jan, Feb payments. As long as Mar comes in and it resumes the normal schedule, looks like all might be well. Just FYI.
Didnt get my march distribution from sale of Park Grove Apts. and they dont answer my emails. Anyone know how to contact someone there or the agency in charge of their regulation?
I had one deal pay off last month and it appears another one is scheduled to pay off this month. Out of 5 deals I had with RS, only one apartment investment is not paying, however I continue to receive status updates every couple of months.
Anyone have any updated information about payouts from realtyshares? Have 3 investments with them that I fear are lost as I haven't received a payment on any of them since May and all three were supposed to be finished long ago. I know IIRM took them over, anyone have experience with contacting them?
I've nagged them several times and never got satisfactory answers. There hasn't been an interest payment on One Sand and Sea in over a year, and though they post a construction update every few months they give no information about financials. I"m seriously unimpressed with IIRR Management.
I have both Vida on Valley and Arbor Creek. The first one has never paid though it is been 1 and half years since the project started. The second one stopped paying a couple months ago.
You can contact the local US Attorney and SEC. It's easy to google and find out the contact information. This will get their attention. Call the local FBI. Get all of your documents together.