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Re: Too good to be true-right?
Old 10-27-2005, 12:25 PM   #21
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Re: Too good to be true-right?

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Originally Posted by wab


2) The SEC has got to be the weakest regulatory agency on the planet. Don't count on them for saving you from (or investigating) even the most blatant cases of security fraud.

HA! I take it you've never been through an SEC audit. They can be impossible to deal with and very strictly enforce their rules. However, the SEC is a picnic compared to the NASD.

You can't expect them to be listening in to people's houses whenver a friend or neighbor offers you to invest in something.
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Re: Too good to be true-right?
Old 10-27-2005, 12:28 PM   #22
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Re: Too good to be true-right?

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Originally Posted by cube_rat
Good point, Peggy. However, this is why money is released in increments as the construction is built out over time rather then funding the project at 100% up front. Construction loans are very short term and the developer will have hopefully sold upon completion or he/she will need to obtain interim financing. I really don't think construction loans are drying up any time soon even in a fast market.


I've invested in some of these with an established builder and they have returned the promised 12% carry + 1/3 share of the profits. What they tell us is that the reason they need our seed money on projects is that the banks will not give loans until 1/3 of their units are sold which is why they need investors.
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Re: Too good to be true-right?
Old 11-23-2005, 10:17 PM   #23
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Re: Too good to be true-right?

are u in indiana?

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Originally Posted by wab
Good point, Martha. I was going to mention that but I wasn't sure if real estate investments were "special."

I'm constantly amazed about two things:

1) Investment scams are widespread. I live in a relatively small town (20,000), and one of our local boys bilked $90M from investors using a network of people who solicited mostly from church members.

2) The SEC has got to be the weakest regulatory agency on the planet. Don't count on them for saving you from (or investigating) even the most blatant cases of security fraud.
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Re: Too good to be true-right?
Old 11-25-2005, 01:26 PM   #24
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Re: Too good to be true-right?

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Originally Posted by wab
Good point, Martha. I was going to mention that but I wasn't sure if real estate investments were "special."

I'm constantly amazed about two things:

1) Investment scams are widespread. I live in a relatively small town (20,000), and one of our local boys bilked $90M from investors using a network of people who solicited mostly from church members.

2) The SEC has got to be the weakest regulatory agency on the planet. Don't count on them for saving you from (or investigating) even the most blatant cases of security fraud.
Then don't go to Europe where they don't care about insider trading. Or South America where they have fake stock exchanges.

- Alec
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