Investor · Santa Clara, CA · Member since 2010 · 27 posts · 1 vote
Has anyone in the BP community dealt with Norada funding? This is a sister company of Norada Real Estate. They're opening up some investment opportunities for 24 months. Rates are pretty high (12-15% with an additional 5% of the loan paid at maturity). The minimum investment is 50K.
Investor · Arvada, CO · Member since 2016 · 8 posts · 17 votes
3y
Mr. Santarelli - I'm interested in getting started in promissory note investing. I'm in the general due diligence phase, i.e. determining if I really want to do this at all. The SEC wars against prommissory note scams here: https://www.sec.gov/investor/p... Could you address a few key points with respect to Norada? Specifically:
1. Are your investments registered with either the SEC or with the California Department of Financial Protection & Innovation? 2. Who at your firm is licensed to sell securities?
I, too, am interested in investing with their promissory note option. However, it seems extremely high risk as, to my knowledge, it is unsecured and only backed by a 'promise' to repay not any hard assets or relevant collateral.
I wish I read "Michael Fish"'s post more carefully. It seems as of now, no interests coming from my 3 notes and I requested my principals back, Marco/Norada Capital doesn't respond to my emails/voicemails. Marco/Norada Capital sends emails that my money is taken and I don't have any control over my money.