Do any BP members have experience investing in one of PPR Notes current or past Note Fund offerings? Trying to wrap up my due dilligence before investing in their current fund offering. Please share your experiences good or bad. Have they consistently been able to pay the preferred returns? have they been responsive in communications, etc. Thank you.
@Todd Leicht I suggest you do a search of BP's website. You'll find several threads that address this exact question and you'll see several responses from different posters over time.
@Todd Leicht I suggest you do a search of BP's website. You'll find several threads that address this exact question and you'll see several responses from different posters over time.
@Andy Mirza thanks for the reply. I adjusted my search keywords and found the threads. Most were circa 2016. Was hoping to get some recent perspectives as well.
Happy Investing!
@Todd Leicht My experience with PPR has been very good. I'm about one year into a 3-year commitment. Preferred return payments have been on time throughout. The founder, Dave Van Horn, is very visible here on BP as well as throughout the note investing industry in general. The preferred returns offered on their funds have come down a few points which I believe reflects the overall state of the market for distressed debt. Inventory is lower and prices are higher. My due diligence before investing was two-fold, getting a sense for what others thought (as you are doing) and educating myself to a reasonable degree on distressed debt investing. Obviously, your mileage may vary. It's great that you're asking these questions. I'm interested in hearing what others think as well. Good luck.
I have also invested in PPR's fund and can corroborate James' experience above. Payments are like clockwork and they are responsive to any questions or concerns. They keep inviting me to in-person events that seem interesting, but I am too far from Philly to make them easily.
@James McCullin and @Bill Loeb - I have been an investor with PPR for the past two years. I wanted to check back in and find out if you continue to invest with PPR or if your opinion has changed given the market changes over teh past 12 months. I'm thinking of investing more into the 8% fund but PPR has experienced massive growth as well as a few acquisitions and its tough to tell if they have the same corporate structure and culture as when I initially invested. Let me know what you think when you get a chance!
@Andy Kelly I am aware of the organizational changes made over the last year at PPR, but can't really comment on what impact they have had (or will have) on investors. My current investment was made prior to these changes. I can say that I haven't seen any disruptions in the monthly preferred return payouts. Personally, I am less concerned about these organizational changes than I am about the state of the notes industry in general considering all of the external forces that have disrupted the normal flow of business.
Thanks @James McCullin - really appreciate the response. And yes, the note industry is a bit troubling, but so are many of the trends in an around real estate in general. Either way, appreciate your insight and have a great day.