This website is brought to you by a concerned group of PREP investors. We have joined forces to create group leaders to manage our collective voice against FAR and their attempt to combine our properties into a new entity that is surely destined to fail!
Our investments have already been diminished by 12%!
If you invested $25,000 dollars, your investment today is now worth $22,000 according to FAR. With their so called preferred equity payment of 8% per year ( assuming everything went perfectly for them ) that would equate to an actual ROI of 3.04%
So why don't we call it the 3% preferred equity plan, or perhaps the "Transfer what value we have left to FAR to finance their careless investment plan?"
Whatever you want to call it, the fact of the matter is that the bulk of us invested in a specific project that we liked. We chose specific demographics and projects that fit our criteria at the time. We did not choose to be grouped all together. For thos of us interested in Medellin, we did not ask for exposure to Bogota. Nor did someone in Cartagena ask for exposure to a project in Laureles.
For those PREPS that did well, they are forced to suffer with those who perhaps had a bad PREP. How is that fair to them??
Our best hope is to go back to the basics. We do not have any intent on stealing from anyone else and robbing Peter to pay Paul ( The LifeAFar way ) we did not ask to be part of this complex tentacle that has become unmanageable! The Greed at Far has taken us down this path and its time to end the gravy train! No more using our money and assets to expand their failing empire!
Our approach is simple. We band together and segregate ourselves from the overall mess. We take control of the original SAS that we invested in, we manage our project with our own property management team. We make this investment work. If we need to sit on it in the short term and cover the miminal expenses to keep it boarded up and keep the taxes paid, that is what we do. But in the end, we control our asset, we are not forced to sell in a down environment at the worst possible time, and we do not give into this predatory approach to steal our investment based on the Covid-19 excuse which is a clever attempt at masking a much bigger problem!
Let's band together and in the end, I assure you we will be far better off than if you choose to stick with FAR!
Your fellow concerned investor