anyone w experience with holdfolio
Investor · Staten Island, NY · Member since 2015 · 64 posts · 9 votes
anyone w experience with holdfolio
Most Popular Reply
Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votesOriginally posted by @Jacob Blackett:
Originally posted by @Frank Casi:
Read Jacob's reply...alot of fancy words...anyone ever gave me a response like that I would hang up the phone on that person.. In Brooklyn Ny we call that ******** 101. Again that's my interpretation..of course I could be wrong.. My gut who I trust more then anyone hasn't failed me yet. The Reason it took me a year to pick a company I was going to jump into this game..was my ads was getting sore from all the smoke blown up it..until Home invest..compleye and total honesty and Transparency. By no means perfect. But the word perfect should not even be in the vocabulary..no such thing.
@Frank Casi I have been running several businesses since my sophomore year of college, and have over 300 individuals invested with me. Over the course of all of these relationships, both investor related and business operations related, I have never received feedback in the manner that you have chosen to characterize me. I attribute this to the fact that we've never done business together. I wish you the best in your investing, but I believe your judgment of me is unfair and does not reflect my experience.
welcome to the world of managing others money. I am on some Crowdfunding facebook private groups and OH man you should hear these folks.. not sure what it is with expectations but perfection seems to be one of the major one's and you know just cant be perfect never will never was .. we all do the best we can and sometime everything goes just right.. sometimes middle of the road and sometimes not so well.. perfection is investing in a CD with govmit gurantee FDIC.
39 Replies
- Specialist · Columbus, OH · Member since 2012 · 176 posts · 98 votes11y
Disclosure: I'm CEO of Holdfolio.
@Frank Casi Just want to look for some understanding about your statement that we carry "Claims a 15%-20% monthly"?
In general we project 9% to 11% returns based on rent income. Once the properties are sold we project a return of 16% to 19% for our investors.
No self-promotion, just trying to manage misinformation.
- Investor · Staten Island, NY · Member since 2015 · 64 posts · 9 votes11y
OK my mistake I misunderstood you.. my bad well talk on our scheduled appT
I do my homework .. always but I make a mistake once in a,while
I will still seek reviews on your company and every single that I do potential business with
- Investor · Staten Island, NY · Member since 2015 · 64 posts · 9 votes10y
no I did not not saying anything bad but too little information available on them.. honestly think the concept is a good one but nor too much of a past to draw a conclusion. As they grow and more people get involved w them and they develop a track record, quite possibly something to consider in the future. If your interested in buying rentals turnkey freshly regained..I am dealing w Midwest equity partners.... very honest and trustworthy
Frank
- Chicago, IL · Member since 2017 · 96 posts · 12 votes9y
@Frank Casi Hey Frank - I was recommended HoldFolio by a fellow member on BP was trying to get more information. Did you end up investing with them? Also which regions are you currently investing and are you still involved with Midwest equity partners?
- Investor · Staten Island, NY · Member since 2015 · 64 posts · 9 votes9y
No i never invested w holdfolio would love to get facts on how they are doing..still interested in the concept.. I am still involved w midwest no complaints,,,checks keep coming w minimal headaches. My next investment will be a multifamily 2-5 family as opposes to single family home.. I think thats the smarter play, although i regret nothing just learning more w each day.
- Rental Property Investor · Chicago, IL · Member since 2017 · 77 posts · 25 votes8y
What does it mean "are you an accredited investor"?
- Birmingham, AL · Member since 2018 · 9 posts · 4 votes7y
Originally posted by @Frank Casi:
anyone out their deal with a company called holdfolio
Their pitch is u have a piece of a 10 property portfolio where they hold and rent some and flip some.
Claims a 15-20% monthly
My antennas went thru my head because it just doesn't sound feasible
I have an investment with Holdfolio. Overall, it has been very disappointing. Right now, they are not paying investors because they claim the portfolio hasn’t reached 100% occupancy. All houses have been occupied, but one is being turned between tenants so this is how they say they haven’t reached 100%. Given usual turnover rates, they will never reach 100%. When I got into this investment, it was very clearly written that one could get out by selling their shares back to holdfolio or to another investor. I tried to get out and was denied.
So, at this point, holdfolio is behaving like several other fraudulent investments that I’ve had the misfortune to be part of.
- 7yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Scott H.:
Originally posted by @Frank Casi:
anyone out their deal with a company called holdfolio
Their pitch is u have a piece of a 10 property portfolio where they hold and rent some and flip some.
Claims a 15-20% monthly
My antennas went thru my head because it just doesn't sound feasible
I have an investment with Holdfolio. Overall, it has been very disappointing. Right now, they are not paying investors because they claim the portfolio hasn’t reached 100% occupancy. All houses have been occupied, but one is being turned between tenants so this is how they say they haven’t reached 100%. Given usual turnover rates, they will never reach 100%. When I got into this investment, it was very clearly written that one could get out by selling their shares back to holdfolio or to another investor. I tried to get out and was denied.
So, at this point, holdfolio is behaving like several other fraudulent investments that I’ve had the misfortune to be part of.
when i first looked at the assets that were back this .. it was a concern in my mind these were C class assets at best and its hard to keep those things running smoothly.. so i am sure they are trying hard but it just is what it is when you invest in that asset class.
if the group paid cash for these which i assume they did and there is no debt not sure why they cant distribute whatever they make monthly prorata.. no portfolio stays 100% full as you mentioned.. thats strange.
- Specialist · Columbus, OH · Member since 2012 · 176 posts · 98 votes7y
Originally posted by @Scott H.:
Originally posted by @Frank Casi:
anyone out their deal with a company called holdfolio
Their pitch is u have a piece of a 10 property portfolio where they hold and rent some and flip some.
Claims a 15-20% monthly
My antennas went thru my head because it just doesn't sound feasible
I have an investment with Holdfolio. Overall, it has been very disappointing. Right now, they are not paying investors because they claim the portfolio hasn’t reached 100% occupancy. All houses have been occupied, but one is being turned between tenants so this is how they say they haven’t reached 100%. Given usual turnover rates, they will never reach 100%. When I got into this investment, it was very clearly written that one could get out by selling their shares back to holdfolio or to another investor. I tried to get out and was denied.
So, at this point, holdfolio is behaving like several other fraudulent investments that I’ve had the misfortune to be part of.
Scott is referencing an investment in a portfolio of 10 single family homes, of which my company is the manager (I am a partner at Holdfolio). We paid out earnings on this portfolio for the first three consecutive quarters since the investment started, and unfortunately did not make a payout for Q3 2018 since there was not enough cash flow due to turn costs and property tax allocations. Currently, 9 of the 10 properties are rented and we anticipate all 10 to be rented very soon. It's not uncommon for our portfolio's of single family homes to all be rented at the same time, more often than not this is the case. Unfortunately for this specific portfolio we've had some challenges to work through. We're still optimistic in the long term outlook of the investment and we're doing everything we can to ensure a successful venture for everyone.
- Birmingham, AL · Member since 2018 · 9 posts · 4 votes7y
Jacob
All 10 HAVE been rented; one of them just happens to be turning over right now. As a result, you are holding dividends. You can withhold dividends forever if it requires 100% occupancy. Additionally, there were written materials stating that in investor could sell his shares either back to holdfolio or another investor, yet I was denied. In fact, I have received several emails from holdfolio asking if I want to buy someone shares, yet I can’t sell my own.
- Specialist · Columbus, OH · Member since 2012 · 176 posts · 98 votes7y
Originally posted by @Scott H.:
Jacob
All 10 HAVE been rented; one of them just happens to be turning over right now. As a result, you are holding dividends. You can withhold dividends forever if it requires 100% occupancy. Additionally, there were written materials stating that in investor could sell his shares either back to holdfolio or another investor, yet I was denied. In fact, I have received several emails from holdfolio asking if I want to buy someone shares, yet I can’t sell my own.
Hey Scott, we're not holding dividends. As I mentioned and as you know, we've paid out earnings every quarter except for one in which there was not enough cash flow to do so. There is no occupancy requirement to payout dividends. I understand your interest in selling your position, and I've kept this in mind. I am going to keep our direct communication to email or phone call going forward. Thank you.
- Investor · Staten Island, NY · Member since 2015 · 64 posts · 9 votes7y
to the the investor who is getting scammed by holdfolio.. Did not like their concept from day 1. My advice to you is get out anyway you can. Spoke to the owner of holdfolio he spoke from 3 sides of his mouth ..thats the impression I got.. My gut is very rarely wrong.
My advice to you after 3 years in the invest property business is find an honest company..took me a year to find an honest company. I deal with home invest. My sales persons name is Susan. I find them very honest. Believe me if your looking for a headache free investment open a CD. This business will never be headache free.. My advice also is if the brochure says 11% return immediately take 2 or 3 points off that figure..thats reality ! I have accepted this..still a good return with an honest and transparent company. That 11 % is based on 100 % occupancy not even close to reality. Also based on no maintenance again not even close to reality. Still all and all I am satisfied and will continue to do business w Home invest.try to avoid singles get duplexes or better.
Good luck Frank
- Specialist · Columbus, OH · Member since 2012 · 176 posts · 98 votes7y
Originally posted by @Frank Casi:
Read Jacob's reply...alot of fancy words...anyone ever gave me a response like that I would hang up the phone on that person.. In Brooklyn Ny we call that ******** 101. Again that's my interpretation..of course I could be wrong.. My gut who I trust more then anyone hasn't failed me yet. The Reason it took me a year to pick a company I was going to jump into this game..was my ads was getting sore from all the smoke blown up it..until Home invest..compleye and total honesty and Transparency. By no means perfect. But the word perfect should not even be in the vocabulary..no such thing.
@Frank Casi I have been running several businesses since my sophomore year of college, and have over 300 individuals invested with me. Over the course of all of these relationships, both investor related and business operations related, I have never received feedback in the manner that you have chosen to characterize me. I attribute this to the fact that we've never done business together. I wish you the best in your investing, but I believe your judgment of me is unfair and does not reflect my experience.
- Rental Property Investor · New York, NY · Member since 2017 · 25 posts · 15 votes7y
I invested with HF for 2 deals, a multifamily in Indianapolis and a 10 property portfolio with SFRs in Indianapolis and Dayton. My funds have been invested for a little over a year now. Cash on cash returns have been 4.26% for the multifamily and 4.75% for the portfolio. Both investments are unencumbered. I am rooting for these guys to pull off some refinancings within the next year to boost returns. There is definitely some equity in the SFR portfolio, and apparently HF mismanaged or misjudged the costs of rehabbing and turning the units in the multifamily which I imagine they will not do again on transactions in the future. Not trying to poo poo on HF, but this is where my investments stand, and I am rooting for them to perform better. Good luck everyone.
- Birmingham, AL · Member since 2018 · 9 posts · 4 votes7y
Below is a cut and paste from the 4Q update. So it would appear that Holdfolio intends to not pay out unless all properties are rented simultaneously, which will probably never happen.
LATEST UPDATE12/31/2018. We had 2 move outs during Q4, which brings the total vacant properties to 3. One is being marketed for rent, and the other two are in the process of being turned. We are looking forward to this portfolio becoming fully occupied in order to maximize cash flow and overall earnings. Holdfolio is allocating all earnings on this portfolio until it is performing at 100% occupancy.
- Specialist · Columbus, OH · Member since 2012 · 176 posts · 98 votes7y
Originally posted by @Scott H.:
Below is a cut and paste from the 4Q update. So it would appear that Holdfolio intends to not pay out unless all properties are rented simultaneously, which will probably never happen.
LATEST UPDATE12/31/2018. We had 2 move outs during Q4, which brings the total vacant properties to 3. One is being marketed for rent, and the other two are in the process of being turned. We are looking forward to this portfolio becoming fully occupied in order to maximize cash flow and overall earnings. Holdfolio is allocating all earnings on this portfolio until it is performing at 100% occupancy.
Hi Scott, thanks for reaching out! I'm sorry the update on your dashboard was not clear for you- this means that while Holdfolio has ownership in the portfolio, we are foregoing any share in profits until the portfolio is operating at 100% occupancy. In other words, 100% of profits have been going to investors since the investment started. For Q4 we paid out $5,066.82 to investors, which is certainly lower than the $8k to $9k that we expect from this portfolio. I updated the dashboards to help clear this up- I have the update below for your quick reference. As always, feel free to call me or email me anytime if you have questions. Best- Jacob
"12/31/2018. We had 2 move outs during Q4, which brings the total vacant properties to 3. One is being marketed for rent, and the other two are in the process of being turned. We are looking forward to this portfolio becoming fully occupied in order to maximize cash flow and overall earnings. Holdfolio is allocating 100% of the earnings on this portfolio to investors until it is performing at 100% occupancy." - 7yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Jacob Blackett:
Originally posted by @Frank Casi:
Read Jacob's reply...alot of fancy words...anyone ever gave me a response like that I would hang up the phone on that person.. In Brooklyn Ny we call that ******** 101. Again that's my interpretation..of course I could be wrong.. My gut who I trust more then anyone hasn't failed me yet. The Reason it took me a year to pick a company I was going to jump into this game..was my ads was getting sore from all the smoke blown up it..until Home invest..compleye and total honesty and Transparency. By no means perfect. But the word perfect should not even be in the vocabulary..no such thing.
@Frank Casi I have been running several businesses since my sophomore year of college, and have over 300 individuals invested with me. Over the course of all of these relationships, both investor related and business operations related, I have never received feedback in the manner that you have chosen to characterize me. I attribute this to the fact that we've never done business together. I wish you the best in your investing, but I believe your judgment of me is unfair and does not reflect my experience.
welcome to the world of managing others money. I am on some Crowdfunding facebook private groups and OH man you should hear these folks.. not sure what it is with expectations but perfection seems to be one of the major one's and you know just cant be perfect never will never was .. we all do the best we can and sometime everything goes just right.. sometimes middle of the road and sometimes not so well.. perfection is investing in a CD with govmit gurantee FDIC.
- Staten Island, NY · Member since 2017 · 5 posts · 4 votes7y
I've been invested with Holdfolio in three different portfolios for over a year. It started off well but the last few quarters have been the same excuse of why they're paying out a low (or no) dividend for each of the three portfolios. They blame a small amount of move-outs/turnovers on why there's no dividend. I don't see why having one vacant unit out of ten is an excuse for a substantially lower payout? I trust their management but it appears they were way too optimistic in their offering documents. I am not looking to cash out but I won't be investing any further unless they're able to straighten all this out.
- Specialist · Columbus, OH · Member since 2012 · 176 posts · 98 votes7y
You're right, Jay. We have a lot of great partnerships, with very successful outcomes. Sometimes you face adversity, and struggle, and that's applicable for a few of our investments. At the end of the day, we always do our best to see that our investments are performing and when they aren't, we focus on solutions. We've always been able to make improvements. Our overall portfolio is great, and we will correct course on the investments that have struggled and I strongly believe they will all work out!
- Investor · Staten Island, NY · Member since 2015 · 64 posts · 9 votes7y
Mr Bob.... Also from Staten island ..no knowledge in the crowdfunding game ..what i will tell you i have 3 properties i bought from A company known as homeinvest and while their promises of 10 to 11% are not accurate because they do not put repairs and vacancies and turnover cost into arriving at that figure . whatever anyone tells you immediately take 3 % off for a cash on cash deal. If your ok you can make some money in the passive turnkey home bussiness. Homeinvest is an Honest company and my salesperson is a strait shooter her name is Susan. If i can help you be happy to. Frank
- Staten Island, NY · Member since 2017 · 5 posts · 4 votes7y
Originally posted by @Frank Casi:
Mr Bob.... Also from Staten island ..no knowledge in the crowdfunding game ..what i will tell you i have 3 properties i bought from A company known as homeinvest and while their promises of 10 to 11% are not accurate because they do not put repairs and vacancies and turnover cost into arriving at that figure . whatever anyone tells you immediately take 3 % off for a cash on cash deal. If your ok you can make some money in the passive turnkey home bussiness. Homeinvest is an Honest company and my salesperson is a strait shooter her name is Susan. If i can help you be happy to. Frank
Thanks Frank. Holdfolio has been responsive to my inquiries and does their best to keep us updated; the sub-par investment returns just don't add up. And I'm 3 for 3 in my investments with them returning far less than they projected, so it's not just a one-off fluke. I will keep your suggestion in mind for the future.
- Investor · Staten Island, NY · Member since 2015 · 64 posts · 9 votes7y
Anytime ..i can help
- 7yLuke M.Pro MemberRental Property Investor · Brooklyn, NY · Member since 2011 · 76 posts · 17 votes
Originally posted by @Scott H.:
Originally posted by @Frank Casi:
anyone out their deal with a company called holdfolio
Their pitch is u have a piece of a 10 property portfolio where they hold and rent some and flip some.
Claims a 15-20% monthly
My antennas went thru my head because it just doesn't sound feasible
I have an investment with Holdfolio. Overall, it has been very disappointing. Right now, they are not paying investors because they claim the portfolio hasn’t reached 100% occupancy. All houses have been occupied, but one is being turned between tenants so this is how they say they haven’t reached 100%. Given usual turnover rates, they will never reach 100%. When I got into this investment, it was very clearly written that one could get out by selling their shares back to holdfolio or to another investor. I tried to get out and was denied.
So, at this point, holdfolio is behaving like several other fraudulent investments that I’ve had the misfortune to be part of.
@Scott H
Scott, thanks for your input on this topic. I've got one investment with them and was looking to do another, but this is giving me great pause. Has there been any progress since you posted last? Did they eventually buy back your shares or refi you out?
Lucas
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