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Re: pull cord sooner rather than later?
Old 07-27-2006, 12:57 PM   #41
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Re: pull cord sooner rather than later?

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Originally Posted by Martha
Screams danger to me too.

I only invest after careful review of a private placement memorandum that includes all applicable agreements, budgets, etc.
Any kind of investment of this nature that I've heard of where there is 10-20 partners would have some kind of a "private placement memorandum" or memorandum of understanding that summarizes the key terms of the deal. It was noticeably absent in this case, as was all kinds of disclosure except "we'll work it out once we get all the money in". This particular "investment" deal was offered to all employees of the company, and probably 10 took them up on the offer for $5000+ each. I told all my buddies at work I wouldn't touch it. Good thing they took my advice!
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Re: pull cord sooner rather than later?
Old 07-27-2006, 01:20 PM   #42
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Re: pull cord sooner rather than later?

Hum. Also sounds like a potential securities issue.
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Re: pull cord sooner rather than later?
Old 07-27-2006, 01:30 PM   #43
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Re: pull cord sooner rather than later?

Quote:
Originally Posted by Martha
Hum. Also sounds like a potential securities issue.
I wondered about that, too. The offer was only made to those employed here (25 people or so). Out of all of those, the only accredited investor (I would guess) is the principal partner making the offer. It was phrased more as an invitation to form a partnership to acquire the office building.
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Re: pull cord sooner rather than later?
Old 07-27-2006, 07:35 PM   #44
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Re: pull cord sooner rather than later?

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Originally Posted by newguy888
Hey calif

Interesting numbers.

My gut feeling is yes go for it.

66,000 pre tax, I am gonna do it on 40,000 here in North Carolina.

We sold the house, bought a great new one with a small 50K mortgage at 6% fixed.

I am going to finish my contract thru jan 07 then my pension kicks in.

I have had so many teaching offers here in NC that I will probably take a sub job in feb and decide if i would like a full time gig for the following school year.

The sub job will bring in about another 12K a year which would bring my funds up to 50+ a year.

Seems doable since my medical bennies are covered.

I figure the 5 months of work at my 80K salary will be enough to pay off a big chunk of my new mortgage.

Thanks newguy,

You've got a great stable situation with, if I remember correctly, a COLA'd pension and health bennies.* Plus you relocated from an area you were getting tired of.* Pluses all around.

I think I may need to develop a bit more in a stock/bond portfolio to balance the dependency on real estate or just get to a point where I generate so much real estate cash flow I don't need to worry about its volatility. And I'm still skittish about leaving San Diego.* *Feel like I'm sorta close but not quite there.* Driving me crazy...





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