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Has Cityvest/DLP returned your calls?

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  • Avatar lolo11 
    Participant
    Status: Physician
    Posts: 2
    Joined: 03/10/2019

    Hi All-

    I filled out an application for the Cityvest opportunity promoted in the WCI podcast 2 weeks ago.  I messaged Alan Donenfeld to inquire about whether I had submitted correctly for our joint revocable trust.  He sent me one email telling me he would contact me after the weekend, and then has not returned other correspondence.  I really can’t tell what is going on with my application and am a little concerned about investing $$ with an organization that can’t communicate effectively.  Is my money just small potatoes to them so not worth their time to respond?  Has anyone else invested with them?

    Thanks!

    #197263 Reply
    Avatar ZZZ 
    Participant
    Status: Spouse
    Posts: 427
    Joined: 06/18/2018

    Sounds like you’ve learned all you need to about that opportunity. There are effectively unlimited things you could invest in…why press forward with one that frustrates you?

    #197359 Reply
    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3172
    Joined: 01/21/2016

    Hi All-

    I filled out an application for the Cityvest opportunity promoted in the WCI podcast 2 weeks ago.  I messaged Alan Donenfeld to inquire about whether I had submitted correctly for our joint revocable trust.  He sent me one email telling me he would contact me after the weekend, and then has not returned other correspondence.  I really can’t tell what is going on with my application and am a little concerned about investing $$ with an organization that can’t communicate effectively.  Is my money just small potatoes to them so not worth their time to respond?  Has anyone else invested with them?

    Thanks!

    Click to expand…

    I invested with the previous opportunity (Pathfinder Access Fund), which was also prompted via the @WCI. Alan was very attentive during the crazy end-of-the-year rush to get the deal together, but I have not heard much since. There was one update from Pathfinder that was passed along to the investors.

    In your case, I am guessing that there is a lower level of urgency to get the deal together, and perhaps your email has fallen through the cracks. If I were you I would:

    1. Reach out by telephone tomorrow.

    2. If you decide to proceed with this investment, lower your expectations for contact, customer service, hand holding, and updates. If you find this to be unsettling, this type of investing is probably not for you.

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

    #197363 Reply
    CordMcNally CordMcNally 
    Participant
    Status: Physician
    Posts: 2143
    Joined: 01/03/2017
    Disability Insurance

    Next opportunity!

    “But investing isn’t about beating others at their game. It’s about controlling yourself at your own game.”
    ― Benjamin Graham, The Intelligent Investor

    #197365 Reply
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1469
    Joined: 01/08/2016

    Hi All-

    I filled out an application for the Cityvest opportunity promoted in the WCI podcast 2 weeks ago.  I messaged Alan Donenfeld to inquire about whether I had submitted correctly for our joint revocable trust.  He sent me one email telling me he would contact me after the weekend, and then has not returned other correspondence.  I really can’t tell what is going on with my application and am a little concerned about investing $$ with an organization that can’t communicate effectively.  Is my money just small potatoes to them so not worth their time to respond?  Has anyone else invested with them?

    Thanks!

    Click to expand…

    I found/find Alan quite responsive to email.

    2. If you decide to proceed with this investment, lower your expectations for contact, customer service, hand holding, and updates. If you find this to be unsettling, this type of investing is probably not for you.

    Click to expand…

    While I don’t need handholding, if I am told that there will be a “dashboard” (mostly interested in fastest access to K-1) or ACH transfer form coming, I do expect these things to happen or I wonder if things got filed to trashcan!

    Speaking of K-1s, Alan said that Pathfinder isn’t sending them out til Mar 31 and CityVest will turn them around when they get them.  Awesome–I love April K-1s.

    #197406 Reply
    The White Coat Investor The White Coat Investor 
    Keymaster
    Status: Physician
    Posts: 4263
    Joined: 05/13/2011

    I’d just call up tomorrow. Shoot me an email and I’ll try to help as well.

    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

    #197407 Reply
    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3172
    Joined: 01/21/2016
    Earnest refinancing bonus

    Hi All-

    I filled out an application for the Cityvest opportunity promoted in the WCI podcast 2 weeks ago.  I messaged Alan Donenfeld to inquire about whether I had submitted correctly for our joint revocable trust.  He sent me one email telling me he would contact me after the weekend, and then has not returned other correspondence.  I really can’t tell what is going on with my application and am a little concerned about investing $$ with an organization that can’t communicate effectively.  Is my money just small potatoes to them so not worth their time to respond?  Has anyone else invested with them?

    Thanks!

    Click to expand…

    I found/find Alan quite responsive to email.

    2. If you decide to proceed with this investment, lower your expectations for contact, customer service, hand holding, and updates. If you find this to be unsettling, this type of investing is probably not for you. 

    Click to expand…

    While I don’t need handholding, if I am told that there will be a “dashboard” (mostly interested in fastest access to K-1) or ACH transfer form coming, I do expect these things to happen or I wonder if things got filed to trashcan!

    Speaking of K-1s, Alan said that Pathfinder isn’t sending them out til Mar 31 and CityVest will turn them around when they get them.  Awesome–I love April K-1s.

    Click to expand…

    Good point, perhaps it is better to wait and see how things go with the first of these access funds. Yes, I do remember discussion of dashboards, Q4 2018 distributions, ACH transfers, etc. but have seen no action on any of these fronts.

    As for the K-1’s, that is unfortunately typical and not under the control of CityVest.

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

    #197452 Reply
    Avatar lolo11 
    Participant
    Status: Physician
    Posts: 2
    Joined: 03/10/2019

    Thanks to all for your input. I called and was able to speak with Alan. Apparently there was an introductory email that I missed (?), which he sent again. I haven’t wired funds yet and am debating the level of ‘hand holding’ that I need. Aso not loving the idea that my $$ could languish for awhile uninvested. Is that the usual for these type of investments?

    #197997 Reply
    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3172
    Joined: 01/21/2016

    Thanks to all for your input. I called and was able to speak with Alan. Apparently there was an introductory email that I missed (?), which he sent again. I haven’t wired funds yet and am debating the level of ‘hand holding’ that I need. Aso not loving the idea that my $$ could languish for awhile uninvested. Is that the usual for these type of investments?

    Click to expand…

    “Languish” is not the correct word (or mindset). Your money will be patiently awaiting for the appropriate opportunity to be deployed. (Languishing is what I am doing at the Hospital right now 😉 )

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

    #198004 Reply
    Liked by rmecc001, lolo11, Peds, Tim
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1469
    Joined: 01/08/2016

    Thanks to all for your input. I called and was able to speak with Alan. Apparently there was an introductory email that I missed (?), which he sent again. I haven’t wired funds yet and am debating the level of ‘hand holding’ that I need. Aso not loving the idea that my $$ could languish for awhile uninvested. Is that the usual for these type of investments?

    Click to expand…

    “If you have to ask how much it costs, then you can’t afford it” might apply here.  😉  There will be more opportunities.  Didn’t I read on PoF that the next one will be an OZ Fund?  Now that might really tickle my FOMO….

    #198019 Reply
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1469
    Joined: 01/08/2016

    Hi All-

    I filled out an application for the Cityvest opportunity promoted in the WCI podcast 2 weeks ago.  I messaged Alan Donenfeld to inquire about whether I had submitted correctly for our joint revocable trust.  He sent me one email telling me he would contact me after the weekend, and then has not returned other correspondence.  I really can’t tell what is going on with my application and am a little concerned about investing $$ with an organization that can’t communicate effectively.  Is my money just small potatoes to them so not worth their time to respond?  Has anyone else invested with them?

    Thanks!

    Click to expand…

    I found/find Alan quite responsive to email.

    2. If you decide to proceed with this investment, lower your expectations for contact, customer service, hand holding, and updates. If you find this to be unsettling, this type of investing is probably not for you. 

    Click to expand…

    While I don’t need handholding, if I am told that there will be a “dashboard” (mostly interested in fastest access to K-1) or ACH transfer form coming, I do expect these things to happen or I wonder if things got filed to trashcan!

    Speaking of K-1s, Alan said that Pathfinder isn’t sending them out til Mar 31 and CityVest will turn them around when they get them.  Awesome–I love April K-1s.

    Click to expand…

    Good point, perhaps it is better to wait and see how things go with the first of these access funds. Yes, I do remember discussion of dashboards, Q4 2018 distributions, ACH transfers, etc. but have seen no action on any of these fronts.

    As for the K-1’s, that is unfortunately typical and not under the control of CityVest.

    Click to expand…

    Anything?  K-1?  ACH form?  Quarterly distribution?  (Investor dashboard?–LOL)

    I am unimpressed.

    #205093 Reply
    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3172
    Joined: 01/21/2016

    I received a K-1 today.

    Otherwise, I am languishing. 😉

    The @WCI promoted this opportunity. He has our back.

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

    #205357 Reply
    Liked by Tim
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1469
    Joined: 01/08/2016

    I received a K-1 today.

    Otherwise, I am languishing. 😉

    The @WCI promoted this opportunity. He has our back.

    Click to expand…

    Hey, good news, Vagabond.  Still crickets here.  Did it arrive via email, USPS?

    The last K-1 to straggle in.

    #205379 Reply
    Avatar justlearning 
    Participant
    Status: Other Professional, Spouse
    Posts: 114
    Joined: 08/15/2017

    i got K1 as well via email. I think you can reach out to Cityvest and request K1.

     

    Question on K1. Since there is a paper loss on K1, this does not reduce your tax liability this year right? I just carries over the loss to next year which may offset with next year gains?

     

    #205407 Reply
    The White Coat Investor The White Coat Investor 
    Keymaster
    Status: Physician
    Posts: 4263
    Joined: 05/13/2011

    I received a K-1 today.

    Otherwise, I am languishing. 😉

    The @WCI promoted this opportunity. He has our back.

    Click to expand…

    Hey, good news, Vagabond.  Still crickets here.  Did it arrive via email, USPS?

    The last K-1 to straggle in.

    Click to expand…

    I’m not expecting a 2018 K-1 for CityVest, but it looks like neither RealtyShares nor EquityMultiple will get me their K-1s in time so I’ll be filing extensions this year (see my post on Friday for a how-to guide!). Not uncommon for real estate and the extension really is no big deal.

    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

    #205415 Reply

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