All Forum Posts by: Sebastian Bennett

Should I be creating a Wyoming LLC to undertake all of my crimes? It seems I may be protected from prosecution...

lol mic drop 

Areas near college campuses are good places to begin as is Center City and south philly. Avoid the c/d neighborhoods, they are trash and difficult to efficiently operate in. 

Agreed, seems like a tenant to keep as long as they are paying market rent. On the flipside you say getting the tenant out could kill the deal. This makes it seem like you are obligated to keep this tenant if they want to stay.  Is that part of the agreement with the seller? I would never agree to such terms. Perhaps I am just misunderstanding. 

@Chris Seveney  I don't even think you have to rely on your gut. The facts are clear, RAD operated illegally in Philadelphia...didn't apply for permits and licenses then misrepresented values of their assets which I understand were relied upon for their share prices. If this is any indication on how the portfolio was operated in other cities by RAD then I agree investors are not getting there capital back, at least not in full. I also find it hard to believe Philadephia was operated differently than the other markets where RAD invests. Add the fact Dutch's brother left the company and is not personally answering any investors questions, it's not looking good. 

@James Wise These are the property owners who also drive up our insurance filing claims over nonsense! 

You sound like a nightmare client for anyone who performs services for you.

What are you protecting against? 

@Chetan Malik You literally posted you could raise money from people and give them 8% cash on cash return. Now you are saying you do not have access to folks who would be willing to raise capital....which one is it? 

Excerpts from the 2022 Philadelphia Inquirer article:

The boarded-up row home at 4243 Leidy Avenue, for example, is said to be earning the company $14,400 a year in rent- even though it has no rental license and its most recent license was as a vacant property.

Two more properties 10 W. Pomona Street and 6400 Glenmore Ave in Elmwood are listed as delivering "projected rents" of $14,400 and $12,200 a yar. L&I has labled both of them as unsafe, meaning the agency found them to be "dangerous to the life, health, property or safety of the public or the occupants of the structure". The designation means no one can live in them.

The vacant dilapidated house at 915 Dauphin Street meanwhile was listed as having a market value of $200,000 in a February 2020 RAD document, about three years after the DDH Fund paid $27,000 for that property when images on the Atlas property data website show it was in better condition. 

THEN THERE IS THIS:

During the Way of Renaissance Man podcast interview Mendenhall told host Woods that he came to real estate after an early career coaching college basement, a grueling vocation that he said left him feeling burnt out.....Mendenhall did his coaching at University of San Francisco according to this Biography on Rad's Website. A spokesperson for the school said Mendenhall had not been a paid university employee but had coached as a volunteer in 2021.

I am sorry but when you lie about something so minor you know there are bigger issues! Also who is Amy Vaughn his partner. She is a ghost online before RAD. How do you go from being a ghost to managing a company that secured hundreds of millions in investment dollars? You have a company with a guy who lied about a coaching career and a ghost running the show. How are the alarms not going off?