Menu

Realty Shares

Home Real Estate Investing Realty Shares

  • The White Coat Investor The White Coat Investor 
    Keymaster
    Status: Physician
    Posts: 4263
    Joined: 05/13/2011

    I haven’t had any response from customer service at Realtyshares and their phone number is no longer functional.  I did reach out to the sponsor of my equity investment directly and it seems like the investment is currently on track (early stage investment and no distributions have been paid yet).  I haven’t received a K1 for 2018 yet, despite the sponsor forwarding it to Realtyshares a few weeks ago.

    Is anyone concerned about the fact that equity investments in specific properties are through a Realtyshares LLC?  While the sponsor is managing the investment, if Realtyshares is no longer operational, what happens to the LLC?

    Click to expand…

    Sure. Always lame to be working with a company on their way out of business. But they are on their way out of business, not out of business. They should still be servicing the current investments (not very well obviously).

    I’m still waiting on a K-1, but I’ve already got my money back on that investment so the only issue is finalizing my returns.

    The one investment there that I don’t have my money back on yet is a debt investment, so no K-1 involved. I got my 1099 just fine and the investment continues to pay me through Realty Shares. I’m honestly more worried about the sponsor there than I am Realty Shares.

    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

    #206770 Reply
    Liked by Vagabond MD
    Avatar frass 
    Participant
    Status: Other Professional
    Posts: 1
    Joined: 05/13/2019

    Any news about getting K1 from realtyshares ?

    who is responsible to provide that information to us in case they don’t do it ?

    I filed an extension with the IRS , just wandering what happens if I never receive the forms ?

    Any suggestion is welcomed Q

     

    I understand the previous post suggest we get in touch with the sponsor ? is that the only way ? What if they don’t provide ?

     

    Thanks in advance !

     

     

    #214352 Reply
    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3171
    Joined: 01/21/2016

    Any news about getting K1 from realtyshares ?

    who is responsible to provide that information to us in case they don’t do it ?

    I filed an extension with the IRS , just wandering what happens if I never receive the forms ?

    Any suggestion is welcomed Q

     

    I understand the previous post suggest we get in touch with the sponsor ? is that the only way ? What if they don’t provide ?

     

    Thanks in advance !

     

     

    Click to expand…

    I am in the same boat, filed an extension for the first time ever, waiting for two K-1’s. They announced today that they have a new management services company, so perhaps this will help move things along.

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

    #214371 Reply
    Jarpee Jarpee 
    Participant
    Status: Physician, Small Business Owner
    Posts: 105
    Joined: 02/06/2017

    Still waiting on mine too.

    #214558 Reply
    Avatar RU4SCUBA 
    Participant
    Status: Physician
    Posts: 13
    Joined: 12/28/2016

    Have you tried contacting them? When I reached out, they acted surprised that I hadn’t received it yet and promptly sent it to me, but I’m not sure who is responsible for the K-1’s? So maybe I just got lucky?
    Who knows though, the whole place seems like quite a mess right now. I have 3 investments, all of which have stopped paying for the past 4 months. One of my investments is now 6 months beyond the six month extension, with no end in sight.
    I found this forum which has been nice to read and not feel completely alone in the realty shares debacle. Thought I’d post it here, might provide helpful information for someone:

    https://www.financialsamurai.com/forums/real-estate-crowdfunding/thoughts-on-realtyshares-closing-its-doors-to-new-investors/

    This has been my only experience with real estate crowd funding, hasn’t been too positive. I’ll probably stick to other methods to include real estate in my portfolio.

    I’m not too hopeful that I’ll get any of my principle back, anybody know if I can use that to my advantage on taxes somehow?

    #214566 Reply

Reply To: Realty Shares

In case of a glitch or error, please save your text elsewhere, clear browser cache, close browser, open browser and refresh the page.

Notifications Mark all as read  |  Clear