does anyone have any news on this reit
is it good any advice
Hi Dale,
Why do you want to invest in it? Is it because it pays a monthly dividend? You do realize they cut their dividend for two years to zero during covid? Understandable because of what they are invested in. I noticed their volume is really low which might make it hard to sell. Just a few notes, I haven’t dug deep but with that low of volume I really do not want to look any further. But for someone that expects to hold for a lifetime, they should dig much deeper.
Andy
these are good responses
from what i understood they just bought the motels during covid at low prices and once they started to operate the motels they started having income coming in and have been paying out since.
this is a 50 million reit currenty sold half as money comes in they are buying more motels
not sure about investment but would like to earn money on account not sit in bank earning nothing
Dale
You can earn 3 percent on Schwab money market fund SWVXX until you find something you would like to invest in. I have been looking at IIPR and it looks interesting. It does have some fleas with their buildings in California but I do think they have it under control. But I could be wrong.
Andy
I also want to Emphasize Dale that I have no clue about Reits. I am just starting to look into them but I really shouldn’t be relied on for reliable information.
Andy
THANK YOU ANDY
it is a interesting small reit raising 50 million they own 11 motels and started couple years ago paying 11.5 dividend per year and when they sell they are projecting 28.5% return per year on principal when they sell motels
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Thanks Dale,
That sounds really encouraging, maybe I should look at them.
Andy
you should then give me your opinion
Yea Dale I am going to give it a hard pass. They trade low volume. They are an OTC out of Canada. They have been trading since 2018 and haven’t gone anywhere. They stopped their dividend from 2020 to 2022. They are a limited partnership ( Why would you have a limited partnership on a Reit?) which makes them provide a K-1. I am just not interested in this company but thanks.
Andy
i am not sure if we are talking about the same company
they are based out of Dallas the reit doesn’t trade on any exchange to small
they have had 5 previous reit all closed this is the 6th they raise anywhere from 11 million to 50 million like this one is
yes they didn’t pay dividend till end of 21 as that is when they started receiving returns and are required to payout 90%
i will check on limited partnership work under reit which would be illegal reit are like a limited in that your investment is all you can lose you are not liable for their actions
i work in taxation and handle cases like this all the time
i am just sitting on the sidelines and now that the people have spoken on the election i feel we are going to move ahead and time to invest
hope you agree
i appreciate your listening to me and value your advice if you want to confirm my info that would help and in turn if you ever need some tax advice i am an expert in that field
Dale