Chicago Investment Club Leaders - Feedback needed

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Chicago Investment Club Leaders - Feedback needed

Dale Stevens
Investor · Downers Grove, IL · Member since 2015 · 353 posts · 213 votes

So I have been going around and attending many different networking and REI Clubs in the Chicago area. Some I have found useful, others I wouldn't call a club but more an infomercial for the guru pitching a product. Some I would caution you to put your wallet into a safety deposit box before attending.

There is one, I have yet to attend, but I wanted to ask for feedback here. I have asked everyone about all clubs. There is one called the "Chicago Wealth Club".  They are marketed, I think, by a guy from Texas, but run by two local guys. 

Has anyone attended this group?

I have met multiple people that claim the two guys running it, have a history of bad deals and still owe them money from as recent as a bad deal 2-3 years ago, to one guy saying he is still owed money from them from a deal done about a "decade ago" (his words).  I don't want to miss out on a good opportunity if it is just sour grapes.

Has anyone else been left holding the bag by Robert Bock or GD Chaplin that run this group? I want to see if it is worth going or yet another person that just started their own club so they can find a new audience of people as they aren't allowed at other groups due to past dealings.

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Account Closed
Investor · Downers Grove, IL · Member since 2015 · 135 posts · 55 votes
11y

@Dale Stevens

 Thanks for the info. I have bumped into the folks you mention at some networking events, but that's the extent of my interaction.  I will say in those limited interactions something felt a bit "off," for what it's worth.

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  • Gerard Schmitt
    Aurora, IL · Member since 2017 · 11 posts · 0 votes
    8y
    Originally posted by @Michael A Collura:

    I am NOT part of Senior Shared Living, LLC. Marc Collura is my younger Brother. I have no business dealings with any of these people. I am not involved in the senior housing or any real estate based investment. The website at this link does not mention me specifically, but it does mention my companies (although the names are misspelled).

    https://www.realtyevest.com/deal/74/4311_N_Spauldi...

    Did Bock go ahead and lose this property because he failed to pay taxes?  This following website shows that it was foreclosed on and auctioned off in late February.

    https://www.redfin.com/IL/Chicago/4311-N-Spaulding...

    0Reply
  • Michael A Collura
    Carpentersville, IL · Member since 2017 · 4 posts · 0 votes
    8y

    Gerard, If your asking me I have no clue. I have no dealings with these people. I only presumed you were asking me because my original post was used in your question. I do not know GD or Bob. I asked the realtyvest.com folks to remove the erroneous information about my companies only. It is a shame what has happened, the concept can work, but they made far too many mistakes in the marketing of the product or the development of the opportunity. I hope everyone gets back what they invested. 

    0Reply
  • Gerard Schmitt
    Aurora, IL · Member since 2017 · 11 posts · 0 votes
    8y

    Those idiots are losing everything.

    https://courtlink.lexisnexis.com/cookcounty/FindDock.aspx?NCase=&SearchType=2&Database=3&case_no=&Year=&div=&caseno=&PLtype=2&sname=MARYCREST+DEVELOPMENT&CDate=

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  • Drew Veeneman
    Genoa, IL · Member since 2017 · 3 posts · 0 votes
    8y

    FYI - It took a while, but in small increments Senior Shared Living did finally pay off my bill this week. Thank you.

    0Reply
  • Howard Hamilton
    Chicago · Member since 2018 · 2 posts · 0 votes
    8y

    Thanks to all for this posting. I’m a relatively new investor and was introduced to the concept when an associate and I joined GD/Bob’s Wealth Club to learn the basics of investing in RE.

    I will cut to the chase. After almost 2 yrs of participating in their weekly Educational Training, I ventured into the private lending space and made 2 loans to GD/Bob totaling about 100k. 

    Sadly, I found out the hard way these guys are not honorable people. So I guess I am another casualty of their tactics and feeling pretty foolish for trusting them. Especially since I’m an experienced business founder and executive.

    It’s bad enough that the notes are in default and I’ve started legal action, but Imfinding out recording of one transaction was never done until after the securing property was already sold which I think qualifies as fraud. And I discovered I’m not the only new member of the Gd/Bob group to be in a similar spot.

    My attorney thinks a criminal case could be filed because of the multiple victims and multiple counties involved. If anyone is interested in joining forces on this I am willing to pursue it further. Lmk.

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  • David McDonald-Hunt
    New to Real Estate · Killeen, TX · Member since 2018 · 2 posts · 0 votes
    8y

    Do you all invest as a club?

    0Reply
  • Howard Hamilton
    Chicago · Member since 2018 · 2 posts · 0 votes
    8y

    Not at this time but it was raised as a topic by some several months back - prior to my individual loans to GD/Bob going south. Doubt the group will be a group once this news gets out.

    0Reply
  • Gerard Schmitt
    Aurora, IL · Member since 2017 · 11 posts · 0 votes
    7y

    I am currently working on a class action lawsuit against Bock and his LLCs.  If anyone on this board is interested in joining in, please let me know and your contact information.  

    0Reply
  • Gerard Schmitt
    Aurora, IL · Member since 2017 · 11 posts · 0 votes
    5y

    United States Bankruptcy Court for the Northern District of Illinois - Eastern Division

    Case number: 20-13866

    Robert Alan Bock., Amended Plan of Reorganization dated 02/22/2021
    This bankruptcy case was commenced by the filing of a voluntary petition under Chapter 11 Sub-Chapter V of
    the United States Bankruptcy Code on July 13, 2020. The Debtor is operating and managing its financial
    affairs as Debtor-in-Possession. No committee of unsecured creditors has been appointed to serve in this
    Chapter 11 case. The Debtor is the proponent of the Plan. The Plan provides for distributions to the holders of
    Allowed Claims by the Debtor from the income of the Debtor.
    Debtor has direct and indirect interests in multiple corporations. (See attached Exhibit A – Corporate Map)
    One of these corporations, Integrity Funding Group/Marycrest Development, has a large financial lender
    who has obtained a deficiency judgment which relates to real estate properties in which the Debtor was a
    personal guarantor.
    Debtor has filed this Chapter 11 case in order to reorganize his financial affairs and make payments to his
    personal creditors to the best of his financial ability.

    0Reply
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