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City Vest – DLP Income & Growth Fund I/DLP Access Fund 2

Home Real Estate Investing City Vest – DLP Income & Growth Fund I/DLP Access Fund 2

  • Avatar wizzies 
    Participant
    Status: Physician, Small Business Owner
    Posts: 2
    Joined: 09/06/2019

    Any updates from anyone on DLP Fund I/II?

    I have completed all requirements short of final wire of $$$ for DLP Access Fund 2, but am looking for some guidance/reassurance/direction from others in Fund I/II that may have had some positive interactions/experiences. Not that my interactions with Alan have been negative, but I have heard some whisperings that things are a little…uncertain recently…please share and advise. Thanks

    #244052 Reply
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1799
    Joined: 01/08/2016

    what whisperings and from whom?

    #244095 Reply
    The White Coat Investor The White Coat Investor 
    Keymaster
    Status: Physician
    Posts: 4520
    Joined: 05/13/2011

    There were a few kinks to work out earlier this year as they got their website up and running and communication was a bit less than ideal. The second distribution should be coming early next month from the first DLP Access Fund that I’m invested in.

    Make sure you confirm wiring instructions. There was one person from the POF FB Group who tried to invest in a previous CityVest offering whose email got hacked (had nothing to do with CityVest) and they ended up wiring $25K to the scammer! Between POF, myself, and Cityvest, we actually offered to make it right but she didn’t feel right about that.

    Site/Forum Owner, Emergency Physician, Blogger, and author of The White Coat Investor: A Doctor's Guide to Personal Finance and Investing
    Helping Those Who Wear The White Coat Get A "Fair Shake" on Wall Street since 2011

    #244203 Reply
    Liked by wizzies
    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3469
    Joined: 01/21/2016

    There were a few kinks to work out earlier this year as they got their website up and running and communication was a bit less than ideal. The second distribution should be coming early next month from the first DLP Access Fund that I’m invested in.

    Make sure you confirm wiring instructions. There was one person from the POF FB Group who tried to invest in a previous CityVest offering whose email got hacked (had nothing to do with CityVest) and they ended up wiring $25K to the scammer! Between POF, myself, and Cityvest, we actually offered to make it right but she didn’t feel right about that.

    Click to expand…

    Wow, must have been quite a thread on FB (and quite a story)!

    "Wealth is the slave of the wise man and the master of the fool.” -Seneca the Younger

    #244223 Reply
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1799
    Joined: 01/08/2016

    Make sure you confirm wiring instructions. There was one person from the POF FB Group who tried to invest in a previous CityVest offering whose email got hacked (had nothing to do with CityVest) and they ended up wiring $25K to the scammer! Between POF, myself, and Cityvest, we actually offered to make it right but she didn’t feel right about that.

    Click to expand…

    Can you comment on the mechanics of what went wrong for those of us who don’t FB?  A financial M&M, if you will.

    I usually just send good ol fashioned checks, but occasionally will wire money.

    #244237 Reply
    Liked by wizzies
    Avatar wizzies 
    Participant
    Status: Physician, Small Business Owner
    Posts: 2
    Joined: 09/06/2019

    How often are the distributions being made? Is that the same for both funds?  How long is initial investment kept before return of principal investment? Looking to invest 100k and don’t want it tied up waiting for fund to close or reach desired participants before realizing gains. First time investing in such a fund and as such am new to the detailed workings. Appreciate any/all clarifications from those already in fund 1 and those recently entering fund 2.

    Thanks so much in advance!

    #244383 Reply
    The White Coat Investor The White Coat Investor 
    Keymaster
    Status: Physician
    Posts: 4520
    Joined: 05/13/2011

    Make sure you confirm wiring instructions. There was one person from the POF FB Group who tried to invest in a previous CityVest offering whose email got hacked (had nothing to do with CityVest) and they ended up wiring $25K to the scammer! Between POF, myself, and Cityvest, we actually offered to make it right but she didn’t feel right about that.

    Click to expand…

    Can you comment on the mechanics of what went wrong for those of us who don’t FB?  A financial M&M, if you will.

    I usually just send good ol fashioned checks, but occasionally will wire money.

    Click to expand…

    Yea her email was hacked and the hacker pretended they were CityVest to her and gave her the wrong wiring instructions. As soon as she wired the money, the account was closed and the hacker disappeared.

    Site/Forum Owner, Emergency Physician, Blogger, and author of The White Coat Investor: A Doctor's Guide to Personal Finance and Investing
    Helping Those Who Wear The White Coat Get A "Fair Shake" on Wall Street since 2011

    #244446 Reply
    The White Coat Investor The White Coat Investor 
    Keymaster
    Status: Physician
    Posts: 4520
    Joined: 05/13/2011

    How often are the distributions being made? Is that the same for both funds?  How long is initial investment kept before return of principal investment? Looking to invest 100k and don’t want it tied up waiting for fund to close or reach desired participants before realizing gains. First time investing in such a fund and as such am new to the detailed workings. Appreciate any/all clarifications from those already in fund 1 and those recently entering fund 2.

    Thanks so much in advance!

    Click to expand…

    Quarterly.

    I don’t know.

    I think the plan is 3-5 years.

    Yes, there was little benefit in fund one for those of us who invested early, especially when the close was delayed a few weeks. Some funds do pay something extra to the early investors, but fund one did not.

    I haven’t talked to Alan at all about Fund 2. My experience is all with fund 1, but I presume it will be similar.

    Site/Forum Owner, Emergency Physician, Blogger, and author of The White Coat Investor: A Doctor's Guide to Personal Finance and Investing
    Helping Those Who Wear The White Coat Get A "Fair Shake" on Wall Street since 2011

    #244447 Reply

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