Secured RealEstate Income Fund Loss
Several years ago Bob Collins had on a regular financial fellow (don’t recall name). Over several weeks, he kept mentioning a solid investment that returned 8% – the Secured Real Estate Income fund. Finally and intrigued, I invested $25,000. of chicken money. For years it did grow at around 8%. Then the commercial real estate market took a hit around the covid time. The fund stopped being able to pay any dividend.
Two years ago this August, I requested a payout of my fund investment that had grown to about $35,000. I was told that the fund managers were trying to sell a large piece of commercial real estate and that would allow a payout to investors.
Well this past year my investment fund decreased by about $125. so its no longer an investment. I spoke by phone early this month to the 2 key managers. They gave me info that this piece of real estate may be sold soon and I should get by fund payout hopefully later this year.
I asked them if they are just “playing” me or is this some sort of a Ponzi scheme. They, of course, said no. I am wondering if I should submit a complaint to the SEC (either Calif or AZ, not sure).
Any thoughts very welcome and sorry for the long communication.
You are the best!
Terry Says
This falls under the heading “anything too good to be true …”! I don’t know exactly what the name of this investment is/was — or what’s going on with it. But I do remember writing and warning about these deals at that time. There was nothing “secure” about them!
I suggest you start your search at FINRA (Financial Industry Regulatory Agency) by calling their helpline: https://www.finra.org/investors/need-help/helpline-seniors
Also, you might want to do a Google search for the name of the fund, and for the officers’ names that were on your paperwork. That should turn up the latest news — if there is any.
