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Current PPR Reviews

Joseph S.
Investor · Lynchburg, VA · Member since 2016 · 34 posts · 22 votes

I was searching for a PPR Review within the last year and I think the most current one I could find was from 3 or 4 years ago. I wanted to confirm that to date they have never missed a payment and always returned principal?

I'm new the notes world and frankly the 3-year locked in PPR preferred return of 12% seems almost too good to be true if they in 16 years have never missed a payment or failed to repay principal. Obviously past results are not necessarily indicative of future performance, but it seems like a great investment for accredited investors to get a low-risk, solid return in exchange for some illiquidity.

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Dave Tasset
Investor · Cincinnati, OH · Member since 2016 · 1 post · 8 votes
2y
I can also vouch for Dave VanHorn and PPR.  I have been a PPR investor since 2019 getting anywhere between 8% to 12% return over the years with no payments ever missed.  I have found this much easier than being a private lender.  I also usually compound the return by reinvesting my payments, so the present 12% fund effectively returns 14.38% which is pretty awesome.  

I do have a fairly high percentage of my net worth (35%) in the PPR fund.  Does anyone have another good fund similar to PPR that I could get some diversification?   Please advise.  Thanks!
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  • Jamie Bateman
    Investor · Baltimore County, MD · Member since 2014 · 466 posts · 438 votes
    2y

    I can vouch for this. They have never missed a payment to me and I am currently invested with them. They have always returned principal when requested in the past, as well. They use leverage in some of their funds, which can increase returns, especially if they have a low cost of capital (but potentially increase risk and trigger UBIT issues).

    2Reply
  • Dave Tasset
    Investor · Cincinnati, OH · Member since 2016 · 1 post · 8 votes
    2y
    I can also vouch for Dave VanHorn and PPR.  I have been a PPR investor since 2019 getting anywhere between 8% to 12% return over the years with no payments ever missed.  I have found this much easier than being a private lender.  I also usually compound the return by reinvesting my payments, so the present 12% fund effectively returns 14.38% which is pretty awesome.  

    I do have a fairly high percentage of my net worth (35%) in the PPR fund.  Does anyone have another good fund similar to PPR that I could get some diversification?   Please advise.  Thanks!
    8Reply
  • Rex Hale
    Member since 2020 · 6 posts · 3 votes
    2y
    Quote from @Dave Tasset:
    I can also vouch for Dave VanHorn and PPR.  I have been a PPR investor since 2019 getting anywhere between 8% to 12% return over the years with no payments ever missed.  I have found this much easier than being a private lender.  I also usually compound the return by reinvesting my payments, so the present 12% fund effectively returns 14.38% which is pretty awesome.  

    I do have a fairly high percentage of my net worth (35%) in the PPR fund.  Does anyone have another good fund similar to PPR that I could get some diversification?   Please advise.  Thanks!

    Yes, good idea to spread it around. I am looking at spreading into PPR to diversify, currently I use PPM (Pacific Private Money) and I go into their Southwest Note fund. It is the most conservative note fund I have ever found. It is based on performing loans where the mortgage payment is not higher than $600 and they have shown at least 5 years of payment history and get this, they have no higher than a 50% LTV so the homeowners are very motivated to not walk away from all that equity. Thy have been around since 2007. The people there I have gotten to know and I will say I distrust them the least of all business people I have ever met! We have dry powder right now and am torn at putting more with them or going into PPR. We want diversity though so working the out now...

    1Reply
  • Chris Wilson
    Coupeville, WA · Member since 2016 · 93 posts · 73 votes
    2y

    I have invested with them since 2021 and they have never missed a payment. I added a couple of different offerings with them earlier this year as well. 

    2Reply
  • Rex Hale
    Member since 2020 · 6 posts · 3 votes
    2y

    Excellent to know. Be aware of California taxes that will hit you in their other funds based on your income level. Ours is a 13% hit. In the PSWNF we are taxed in our state tax which I am in Utah so it is a paltry 3%.

    0Reply
  • Jim Peret
    Investor · Delafield, WI · Member since 2014 · 102 posts · 73 votes
    2y
    Quote from @Jamie Bateman:

    I can vouch for this. They have never missed a payment to me and I am currently invested with them. They have always returned principal when requested in the past, as well. They use leverage in some of their funds, which can increase returns, especially if they have a low cost of capital (but potentially increase risk and trigger UBIT issues).

     What is PSWNF?

    2Reply
  • Joseph S.
    OP
    Investor · Lynchburg, VA · Member since 2016 · 34 posts · 22 votes
    2y

    Thanks for all these replies... I actually just finished reading his book and was surprisingly disappointed for a couple reasons. Primarily it is because he gets credited with "writing the book on notes" which his hardly is. I found it an enjoyable read about his journey into notes, but out of roughly ~180 pages only the last ~40 discuss notes and even those are very general and don't go into any number crunching. 

    The other disappointment as a prospective investor in PPR is that his book could not be more loving of leverage and the ability to maximize returns by using OPM. My worry is that since he has built a 16 year track record of always paying his pref and returning capital on time, that he is now overleveraging.

    Does anyone share this concern?


    0Reply
  • Rex Hale
    Member since 2020 · 6 posts · 3 votes
    2y

    Valid concern. I watched their latest webinar 12/23 and they are still at low leverage. Remember investors also make money so if people are smart enough to get OPM then good for them. I am not that smart so I need people who can do this and they should be paid properly with the upside! Also they don't get paid in the capital stack until the pref return (investors) get paid! So they have to tread lightly/smartly in order to get paid! 

    0Reply
  • Chris Wilson
    Coupeville, WA · Member since 2016 · 93 posts · 73 votes
    2y
    Quote from @Dave Tasset:
    I can also vouch for Dave VanHorn and PPR.  I have been a PPR investor since 2019 getting anywhere between 8% to 12% return over the years with no payments ever missed.  I have found this much easier than being a private lender.  I also usually compound the return by reinvesting my payments, so the present 12% fund effectively returns 14.38% which is pretty awesome.  

    I do have a fairly high percentage of my net worth (35%) in the PPR fund.  Does anyone have another good fund similar to PPR that I could get some diversification?   Please advise.  Thanks!

     @Dave Tasset I haven't personally invested with this company but have heard good things about then. 7e Investments, Chris posts frequently on BP.

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

    @Chris Wilson

    Thanks

    For the shoutout - since self

    Promotion not allowed on BP happy to chat offline to people if they reach out and feel free to ask people about us and our history / reputation on BP (we have nothing to hide)

    7e investments53 Reviews
    WebsiteView Page
    2Reply
  • Marie B.
    Investor · Member since 2022 · 46 posts · 20 votes
    2y
    Quote from @Jamie Bateman:

    I can vouch for this. They have never missed a payment to me and I am currently invested with them. They have always returned principal when requested in the past, as well. They use leverage in some of their funds, which can increase returns, especially if they have a low cost of capital (but potentially increase risk and trigger UBIT issues).


     Jamie, I'd like to connect. I see you're in the Baltimore area as well. I'm interested in investing with PPR. What but I'm curious what the risks are? It sounds like you've had a good experience so far. Do you mind if I ask how much you have invested with them? 

    0Reply
  • Marie B.
    Investor · Member since 2022 · 46 posts · 20 votes
    2y
    Quote from @Dave Tasset:
    I can also vouch for Dave VanHorn and PPR.  I have been a PPR investor since 2019 getting anywhere between 8% to 12% return over the years with no payments ever missed.  I have found this much easier than being a private lender.  I also usually compound the return by reinvesting my payments, so the present 12% fund effectively returns 14.38% which is pretty awesome.  

    I do have a fairly high percentage of my net worth (35%) in the PPR fund.  Does anyone have another good fund similar to PPR that I could get some diversification?   Please advise.  Thanks!

     Thank you for sharing your experience with investing with them! 

    0Reply
  • Bryan H.
    Member since 2021 · 53 posts · 26 votes
    2y
    Quote from @Dave Tasset:
    I can also vouch for Dave VanHorn and PPR.  I have been a PPR investor since 2019 getting anywhere between 8% to 12% return over the years with no payments ever missed.  I have found this much easier than being a private lender.  I also usually compound the return by reinvesting my payments, so the present 12% fund effectively returns 14.38% which is pretty awesome.  

    I do have a fairly high percentage of my net worth (35%) in the PPR fund.  Does anyone have another good fund similar to PPR that I could get some diversification?   Please advise.  Thanks!
    Check out Norada Capital with a simple no fees structure and 12-15% annual yield depending on how much you invest. 

     https://noradacapital.com

    Been around 10-12 years and have great track record - never not paid apparently. I am considering them myself but have not invested yet. 

    0Reply
  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    2y

    Im generally distrustful of most people/funds in the real estate world. Even with some people I believe are honest, I simply believe most do not properly analyze and manage risk, as is evident with nearly every syndication doing capital calls right now because they didnt properly plan for rising rates.

    Dave Van Horn however, along with his company PPR one of the few people I trust in the real estate space. Ive known Dave for years now, and the one word Id use to describe him is Integrity.

    [email protected]301-893-4635Podcast Guest on Show #192
    District Invest Group546 Reviews
    WebsiteView Page
    2Reply
  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    2y

    @Bryan Harvey

    Just realize they provide high returns but it’s my understanding your investment is an unsecured loan.

    7e investments53 Reviews
    WebsiteView Page
    0Reply
  • John Terry
    Investor · Anderson, SC · Member since 2017 · 7 posts · 4 votes
    2y

    I also have a significant investment with PPR after finding them here years ago. I have been with them for over 5 years. Zero missed payments. Very short seasoning period. I would love to invest more with them, but I do need diversification. I do have an investment with DLP Capital Partners. They have not missed a payment in over 2 years I have been with them. My initial investment there started off a bit rocky. It took them 3 months to get my money invested and paying monthly. This was within the fine print, but I was told by email/phone that it would be within 30days. Has been fairly smooth since. I am also looking for the best alternative to PPR.

    2Reply
  • Joseph S.
    OP
    Investor · Lynchburg, VA · Member since 2016 · 34 posts · 22 votes
    2y

    Thanks for your feedback @John Terry. Yes I often hear PPR and DLP in the same breath as they both seem to offer solid income with fairly low risk.

    2Reply
  • Rex Hale
    Member since 2020 · 6 posts · 3 votes
    2y
    Quote from @John Terry:

    I also have a significant investment with PPR after finding them here years ago. I have been with them for over 5 years. Zero missed payments. Very short seasoning period. I would love to invest more with them, but I do need diversification. I do have an investment with DLP Capital Partners. They have not missed a payment in over 2 years I have been with them. My initial investment there started off a bit rocky. It took them 3 months to get my money invested and paying monthly. This was within the fine print, but I was told by email/phone that it would be within 30days. Has been fairly smooth since. I am also looking for the best alternative to PPR.


    Thank you for that advice! We are going invest with PPR for more diversity. We love Pacific Private Money (PPM) and their Pacific Southwest Note Fund that we are in currently. Pays only 8.5% but is the most conservative note fund we have ever come across as they only do performing notes that are in first lien position and only on homes that have a mortgage under $600 and people have at least 50% equity in their homes already. Very hard to have any defaults on this and been around as long as PPR.

    0Reply
  • Jamie Bateman
    Investor · Baltimore County, MD · Member since 2014 · 466 posts · 438 votes
    2y

    Yes, @Dave Van Horn is a great guy with an excellent track record and a stellar reputation. I've interviewed him twice on my podcast (once with @Chris Seveney and once on my current show), and I thoroughly enjoyed those conversationss. 

    1Reply
  • Chris Webb
    Investor · Central Virginia · Member since 2020 · 393 posts · 253 votes
    2y

    Anyone looking to get into a syndication, I would advise you do research. Look at Nuvo and their research, mentioned here.

    https://therealdeal.com/national/2023/11/02/multifamily-firm...

    0Reply
  • Jamie Bateman
    Investor · Baltimore County, MD · Member since 2014 · 466 posts · 438 votes
    2y
    Quote from @Chris Webb:

    Anyone looking to get into a syndication, I would advise you do research. Look at Nuvo and their research, mentioned here.

    https://therealdeal.com/national/2023/11/02/multifamily-firm...


     How does this relate to PPR?

    0Reply
  • Rex Hale
    Member since 2020 · 6 posts · 3 votes
    2y
    Quote from @Jamie Bateman:
    Quote from @Chris Webb:

    Anyone looking to get into a syndication, I would advise you do research. Look at Nuvo and their research, mentioned here.

    https://therealdeal.com/national/2023/11/02/multifamily-firm...


     How does this relate to PPR?


     Yes, note investing is a completely different animal, apples to oranges.

    2Reply
  • Jamie Bateman
    Investor · Baltimore County, MD · Member since 2014 · 466 posts · 438 votes
    2y
    Quote from @Rex Hale:
    Quote from @Jamie Bateman:
    Quote from @Chris Webb:

    Anyone looking to get into a syndication, I would advise you do research. Look at Nuvo and their research, mentioned here.

    https://therealdeal.com/national/2023/11/02/multifamily-firm...


     How does this relate to PPR?


     Yes, note investing is a completely different animal, apples to oranges.


    I do know that PPR has gotten a bit into multifamily investing, but I don't think that is their focus. And there are some great multifamily operators out there and then there are others. I agree you should do your research on any operator before investing in a fund/syndication, but I wasn't sure how Ashcroft Capital related to PPR. 

    0Reply
  • Marie B.
    Investor · Member since 2022 · 46 posts · 20 votes
    2y
    Quote from @John Terry:

    I also have a significant investment with PPR after finding them here years ago. I have been with them for over 5 years. Zero missed payments. Very short seasoning period. I would love to invest more with them, but I do need diversification. I do have an investment with DLP Capital Partners. They have not missed a payment in over 2 years I have been with them. My initial investment there started off a bit rocky. It took them 3 months to get my money invested and paying monthly. This was within the fine print, but I was told by email/phone that it would be within 30days. Has been fairly smooth since. I am also looking for the best alternative to PPR.


     What's your experience been like investing with DLP capital partners?

    0Reply
  • Daniel Na
    Member since 2024 · 1 post · 0 votes
    2y
    Quote from @Dave Tasset:
    I can also vouch for Dave VanHorn and PPR.  I have been a PPR investor since 2019 getting anywhere between 8% to 12% return over the years with no payments ever missed.  I have found this much easier than being a private lender.  I also usually compound the return by reinvesting my payments, so the present 12% fund effectively returns 14.38% which is pretty awesome.  

    I do have a fairly high percentage of my net worth (35%) in the PPR fund.  Does anyone have another good fund similar to PPR that I could get some diversification?   Please advise.  Thanks!

    I'm considering investing with PPR but am confused about the 14.38% compounded return. Can anyone help break this down?

    To try to answer this myself I read this on their website (#8 in the list):

    Choosing to compound in the 3-year, 12% targeted PPR fund increases your overall annualized return to 14.3%.

    I also read through the compounding examples in PPR's offering. For their three-year, 12% option they give an example of a $1M investment with the following preferred returns:

    - Without compounding: $360,328.77

    - With compounding: $431,237.45

    Taking 12% disbursements over 3 years on $1M would be $120,000 per year, or $360,000 over 3 years. It looks like there's an additional day of interest in their calculation which checks out just fine. The figure for without compounding makes perfect sense to me.

    For compounding, I took PPR's example, and calculated the annualized return:

    With the following numbers:

    A = $1,431,237.45

    P = $1,000,000.00

    t = 3

    This produced an annualized return of 12.68% over the 3 years with compounding.

    What am I doing wrong in this calculation (I'm certainly not a quant)? How do the numbers in the offering result in a 14.38% return?

    0Reply
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