All Forum Posts by: David Kanarek

He continued to publicize, search out and NOT disclose any of the difficulties his business was in. He also did not disclose that he had already 3 days before suspended payments. He is in a lot of trouble, and the fact that you don't see this as wrong, immoral and probably illegal is a clear indication that you are not impartial. Why do you think the SEC is investigating this if it was all perfectly legitimate? If you are working for Norada, you should publicly declare that. In any case STOP BLAMING INVESTORS FOR THE WRONG DOING OF OTHERS !

Quote from @Jay Hinrichs:

Quote from @Chris Seveney:

Quote from @David Kanarek:

I was made aware this weekend by one of the investors on our Facebook group that Marco Santarelli on June 18th, 2024, held a "web seminar" again soliciting investors. This would be 2 days before he announced in his June 20th email (which I believe you have) that he was suspending payments to hundreds of investors because of financial problems.He did not disclose anywhere in the webinar (48 hours before the email) the difficulties that his business was experiencing which was laid out in the email 2 days later. This would appear a blatant disregard for disclosing to would be new Investors information that would have been needed to make an informed investment decision.Perhaps you already have this YouTube video. I was sent the link yesterday and here it is:https://m.youtube.com/watch?v=8QPipxwcGMg&feature=youtu.be

Dave

I watched some of this and what caught me by surprise not knowing much about Norada is:

1. he was upfront that only like 6% of his portfolio is in real estate. Were investors aware of this?

2. He mentions the risk involved in this, and that is it very high risk.

3. He also mentioned he sent out some financials but did not have cashflow statements from his book keeper and he would have those shortly. There is the potential (again depending on how often he does his books) - that he literally did not know there were concerns on the cash side of things.

I went and reviewed a webinar from August 2023 where he noted he got out of a lot of real estate investing and investing in five categories: Ecommerce 33%, educational masterminds 55% (and lists them), broadway musical and very minor in real estate and crypto. He also mentioned he never did miss a payment during this webinar.

Has anyone asked When did you realize there were issues? Was there a PPM as part of this offering? I have not heard anyone comment whether there was a PPM?

My last question based on above is, curious is, is this worth continuing discussion here on BP? This is not a real estate fund.

As all of this Norada notes flush's out its very clear to me the investors really did not understand the risks and that the risks were pointed out but investor greed for return over rode the risks.. now that these highly risky business's are not working its got to be the sponsor who is at fault and the poor investor was duped.. This is nothing more than disgruntled investors not taking personal responsibility for their choice of investment .. This is no different than picking a high risk stock and the stock goes bust.. Or those that leverage bit coin at the wrong time and lost hundreds of thousands on that play.. and for sure character assassination on the internet is not going to right the ship crazy

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I was made aware this weekend by one of the investors on our Facebook group that Marco Santarelli on June 18th, 2024, held a "web seminar" again soliciting investors. This would be 2 days before he announced in his June 20th email (which I believe you have) that he was suspending payments to hundreds of investors because of financial problems.He did not disclose anywhere in the webinar (48 hours before the email) the difficulties that his business was experiencing which was laid out in the email 2 days later. This would appear a blatant disregard for disclosing to would be Investors information that would have been needed to make an informed investment decision.Perhaps you already have this YouTube video. I was sent the link yesterday and here it is:https://m.youtube.com/watch?v=8QPipxwcGMg&feature=youtu.bePlease let me know if I can be of further assistance.

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😁

I was made aware this weekend by one of the investors on our Facebook group that Marco Santarelli on June 18th, 2024, held a "web seminar" again soliciting investors. This would be 2 days before he announced in his June 20th email (which I believe you have) that he was suspending payments to hundreds of investors because of financial problems.He did not disclose anywhere in the webinar (48 hours before the email) the difficulties that his business was experiencing which was laid out in the email 2 days later. This would appear a blatant disregard for disclosing to would be Investors information that would have been needed to make an informed investment decision.Perhaps you already have this YouTube video. I was sent the link yesterday and here it is:https://m.youtube.com/watch?v=8QPipxwcGMg&feature=youtu.bePlease let me know if I can be of further assistance.

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I was made aware this weekend by one of the investors on our Facebook group that Marco Santarelli on June 18th, 2024, held a "web seminar" again soliciting investors. This would be 2 days before he announced in his June 20th email (which I believe you have) that he was suspending payments to hundreds of investors because of financial problems.He did not disclose anywhere in the webinar (48 hours before the email) the difficulties that his business was experiencing which was laid out in the email 2 days later. This would appear a blatant disregard for disclosing to would be Investors information that would have been needed to make an informed investment decision.Perhaps you already have this YouTube video. I was sent the link yesterday and here it is:https://m.youtube.com/watch?v=8QPipxwcGMg&feature=youtu.bePlease let me know if I can be of further assistance.

Quote from @Alex Tank:

https://www.facebook.com/reel/1200185371006648

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Thank you for your post. I was made aware this weekend by one of the investors on our Facebook group that Marco Santarelli on June 18th, 2024, held a "web seminar" again soliciting investors. This would be 2 days before he announced in his June 20th email (which I believe you have) that he was suspending payments to hundreds of investors because of financial problems.He did not disclose anywhere in the webinar (48 hours before the email) the difficulties that his business was experiencing which was laid out in the email 2 days later. This would appear a blatant disregard for disclosing to would be Investors information that would have been needed to make an informed investment decision.Perhaps you already have this YouTube video. I was sent the link yesterday and here it is:https://m.youtube.com/watch?v=8QPipxwcGMg&feature=youtu.bePlease let me know if I can be of further assistance.

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Quote from @Caroline C.:

Quote from @Joe R.:

Anyone with experience on Norada Promissory Notes?

We just had our 3-year loan mature on 2/2/24. Interest always paid on time, and principal was returned with bonus right on schedule. I have only had good experiences with Norada to date.

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Thank you for your email I was made aware this weekend by one of the investors on our Facebook group that Marco Santarelli on June 18th, 2024, held a "web seminar" again soliciting investors. This would be 2 days before he announced in his June 20th email (which I believe you have) that he was suspending payments to hundreds of investors because of financial problems.He did not disclose anywhere in the webinar (48 hours before the email) the difficulties that his business was experiencing which was laid out in the email 2 days later. This would appear a blatant disregard for disclosing to would be Investors information that would have been needed to make an informed investment decision.Perhaps you already have this YouTube video. I was sent the link yesterday and here it is:https://m.youtube.com/watch?v=8QPipxwcGMg&feature=youtu.bePlease let me know if I can be of further assistance.

Quote from @Marco Santarelli:

@Anthony Jackson — thanks for posting the question. :)

Please refer to the related thread here:

https://www.biggerpockets.com/...

Feel free to contact me with any questions.
Continued success!

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I was made aware this weekend by one of the investors on our Facebook group that Marco Santarelli on June 18th, 2024, held a "web seminar" again soliciting investors. This would be 2 days before he announced in his June 20th email (which I believe you have) that he was suspending payments to hundreds of investors because of financial problems.He did not disclose anywhere in the webinar (48 hours before the email) the difficulties that his business was experiencing which was laid out in the email 2 days later. This would appear a blatant disregard for disclosing to would be Investors information that would have been needed to make an informed investment decision.Perhaps you already have this YouTube video. I was sent the link yesterday and here it is:https://m.youtube.com/watch?v=8QPipxwcGMg&feature=youtu.bePlease let me know if I can be of further assistance.

Quote from @Craig Salzer:

I don't believe there is compounding. Norada pays you monthly interest on the note and a lump sum payment at the end.

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All Forum Posts by: David Kanarek

David Kanarek has started 2 posts and replied 65 times.

Post: Norada real estate

Post: Norada Capital Management Promissory note investment

Post: Norada Capital Management Promissory note investment

Post: Norada Capital Management Promissory note investment

Post: Norada real estate

Post: Marco Santarelli talks out-of-state investing at Think Realty

Post: Norada Capital Management Promissory note investment

Post: Norada Capital Management Promissory note investment

Post: Norada Capital Management Promissory note investment

Post: Norada Capital Management notes