Thanks Investpro for getting back so quickly.
Would wait for ur response for other ones as well.
I also read about Lexxco based in Mississauga offering 26% on 3 yr term!!!
Not sure if any experiences dealing with them.
Hi Investpro,
Pls check ur PM. Thanks.
Looking forward to hearing from u.
Alterra....stay away for the moment. They invest in apartments in the US and turn them around into condos....hence the two year term. The current housing market in the US makes this investment a little shaky....I have not yet received my annual interest payment which was due last December.
Nelson....top marks!!! I have been with them over 4 years and all payments have been made on time (or early) directly in to my account.
Lexxco....if you compound 8% over the three years, you get 26% total...not per year.
Vellacqua....looking for more info myself, I registered my name and address on their site but no info has arrived yet. No properties listed under their CURRENT PROJECTS tab on their web site.
Quote:
Originally posted by investpro
Sometime ago I had arranged such deals for Harry Stinson, the Toronto based real estate developer who appears in the papers often. He had actually floated such an offer for his now completed hotel at I King Street west . He was offering 12% for a min of $10,000. All who invested were rewarded without a hitch.(At first it was 8%)
In the last several years, this kind of investing has been pretty secure. All the deals I arranged nobody lost any money. I am still doing it, but again the returns I am offering are 12-13%.
You may also remember that the real estate developer of 1 King West; Harry Stinson, filed bankruptcy protection last year. This raises question about the risks and rewards of such type of ventures.
See this link: http://www.thestar.com/News/article/190064
According to documents obtained by the Star, Stinson's two companies, Stinson Hospitality Inc., and Dominion Club of Canada Corp., owe more than $20 million. The main secured creditor is Ed Mirvish Enterprises Inc. for $11.8 million. Unsecured creditors include debenture holders for $5.25 million.
Regards,
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Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/
Location: Canada-Glorious and Free
Posted on: 16-07-08 19:48:49
Quote:
Originally posted by amit kalia
You may also remember that the real estate developer of 1 King West; Harry Stinson, filed bankruptcy protection last year. This raises question about the risks and rewards of such type of ventures.
See this link: http://www.thestar.com/News/article/190064
According to documents obtained by the Star, Stinson's two companies, Stinson Hospitality Inc., and Dominion Club of Canada Corp., owe more than $20 million. The main secured creditor is Ed Mirvish Enterprises Inc. for $11.8 million. Unsecured creditors include debenture holders for $5.25 million.
Regards,
When you look at the prospectus or legal documents in such investments, they use words that will not make sense to unsophisticated investors except when they are talking about the returns. They never say that your loan is UNSECURED! They never say that you will be second last guy to be paid if this deal goes sour. They use word like mezzanine financing or second mortgages. These "investments" are the prime example of "SUB-PRIME" lending (pardon the pun).
BV
