Strathmore Investment/Development Opportunity

[max_boost]

Ahh what's done is done I guess. I have no clue about the tax stuff.

[ercchry]

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Covid sure was a convenient excuse, huh.

Yeah, who knew that the catalyst for a massive spike in home prices would be the thing to end a development project

[BerserkerCatSplat]

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Yeah, who knew that the catalyst for a massive spike in home prices would be the thing to end a development project

Let's not forget this project went through not one, but two major housing booms while making (on paper) no money whatsoever! Truly a singular project.

[suntan]

Like if you're willing to blow money like this, just buy junk bonds.

[Buster]

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Like if you're willing to blow money like this, just buy junk bonds.

or Lottery group G6, E4 or A12

[triplep]

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Let's not forget this project went through not one, but two major housing booms while making (on paper) no money whatsoever! Truly a singular project.

Well at least now they will show some profit potentially with all those forgiven loans being brought into income!

[pheoxs]

Get a bunch of investments, land value spikes up with the current housing runup, declare the project cancelled and 'dump' the land for scraps and declare bankrupt. The compt buying the land for scraps happens to also be owned by the same group.

Wouldn't surprise me if something like this happens

[suntan]

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or Lottery group G6, E4 or A12

No one expects to win a lotto though.

[Buster]

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Get a bunch of investments, land value spikes up with the current housing runup, declare the project cancelled and 'dump' the land for scraps and declare bankrupt. The compt buying the land for scraps happens to also be owned by the same group.

Wouldn't surprise me if something like this happens

The shareholders could almost certainly sue the directors if this was the case. I'm not a lawyer, but this is the type of thing that gets courts to pierce the corporate veil.

[mr2mike]

Only if you find out.

[dirtsniffer]

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Where does the rape happen?

If he doesn't want to go into the profit participation and is worried about "the market" he gets his loan at 6 or 7%, goes in on the 14% flex bond of our development with no profit sharing and has a nice, low risk day.

Or he can get his loan and do our 11% with quarterly payments..

I don't see the issue. This is strathmore. They NEED lots...the town MUST grow to support all the new infrastructure and we WILL develop this land. We have over 100million in unencumbered land in our portfolio, we aren't about to let a 20mil investment go sideways, seeing as we've owned and worked this deal for nearly four years.

This is not your run of the mill syndication where people make ridiculars claims before the even OWN the land let alone set the project in motion via development permits etc.

We are completely transparent and I urge you all to ask me anything you need to know...even come by our office...

Mark

Guess we finally found out when and where the raping happens.

reading the first page again is depressing.

[ExtraSlow]

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The shareholders could almost certainly sue the directors if this was the case. I'm not a lawyer, but this is the type of thing that gets courts to pierce the corporate veil.

For sure, this would be a textbook case

[R-Audi]

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Get a bunch of investments, land value spikes up with the current housing runup, declare the project cancelled and 'dump' the land for scraps and declare bankrupt. The compt buying the land for scraps happens to also be owned by the same group.

Wouldn't surprise me if something like this happens

Thats the Strategic/Riaz Mandani way!
They declare bankruptcy and buy back the decent buildings for pennies on the dollar and somehow have first dibs to do so!

[max_boost]

Attachment 102302

[killramos]

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No one expects to win a lotto though.

You clearly haven’t spoken to Mario before

[suntan]

You guys give him a hard time but there's literally thousands of those lotto groups. His is actually tiny.

[killramos]

I never claimed there wasn’t a lot of stupid people out there

[Buster]

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You guys give him a hard time but there's literally thousands of those lotto groups. His is actually tiny.

tiny, but persistent.

[riander5]

Jesus reading the first page did this ever have some red flags

[vengie]

Moral of the story, don't invest with actors?