"Rich Uncles NNN REIT"
Just wanted to say this has got to be the worst-named real estate company on earth. Worse than 'World Class Capital.'
https://www.sec.gov/Archives/edgar/data/1645873/0…
https://www.richuncles.com/
I feel bad for whoever takes this job https://www.linkedin.com/jobs/view/acquisitions-a… as that name will be on his or her resume for a lifetime
The name is bad....but not bad enough for Ray Wirta (Chairman of the Board at CBRE and President of the Irvine Company) to be the backbone of the venture.
They clearly branded it to a specific audience and it must be commercially feasbile--aka they're going to make a shit load of money so who cares whats in the name.
In today's culture of killing the patriarchy, I am dumbfounded that they have a link to a section named, "meet the uncles".
Seems ready to be attacked for not having any female representation.
Woah. Did you just assume that all uncles are male, brah?
Literally LOL'ed reading your post out loud prospie.
Can you imagine...
You're dating some new girl that you met and go to her hometown for Thanksgiving to meet all of her friends and family. As you settle around the dinner table, your girlfriends mother asks what you do and you sheepishly have to tell her that you work for, "Rich Uncles Triple NET R-E-I-T". Bonus points if she actually does have a "Rich Uncle".
I would die on the spot.
There is a lot of info floating around about some of these guys. Their yields are very high and it's a private Reit which scares the s*** out of me.
There are some heavy-hitting names behind it so who knows. My money will never wind up there. Last I heard they were guaranteeing 8% cash on cash on triple-net deal. Credit tenant triple-net deals these days are capping out around 4 to 5%.
8% Cash-on-Cash doesn't seem so hard to believe.
A 5% Cap-Rate Deal with 4% - 70% LTV loan would net an 8% C-o-C. None of those things seem unrealistic.
Just wondering, what's the most concerning part of owning Private REIT Shares? Just the fact that they are unregulated?
Can you show the calculation on that?
I am terrified of losing a possible deal to these guys in the future. Can you imagine going back to IC?
IC: "Hey, what happened to that deal you guys were chasing?" Me: "We lost it." IC:"To whom?" Me:"Rich Uncles." IC:"Are you fucking serious?"
Lol
Don't know too much about this shop, but I heard Rich Great Uncles is killing it right now.
update - it appears the REIT changed names: RW Holdings NNN REIT, Inc., f/k/a Rich Uncles NNN REIT, Inc. prior to the name change they were, i now see, investigated by the SEC regarding the sales/marketing of their shares
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