100% Total Loss on GROCAPITUS Deal: A Warning to Investors
I just received an email from Grocapitus stating that my $100k investment in a Texas property was foreclosed, resulting in a 100% total loss for both limited partners and preferred equity investors.
This firm is headed by Neal Bawa, the self-proclaimed "Mad Data Scientist" of the multifamily universe. Far from being a data wizard, he has proven to be entirely incompetent.
He overpromised returns while boasting about being "conservative" with his pro formas, claiming that "with his secret sauce, actual returns are usually much higher." He assured us that, in the event of an economic downturn, he would build a war chest to protect the asset. Apparently, he failed to do so.
Neal Bawa acts like a snake oil salesman who profits from commissions while delivering catastrophic results. He has wiped out capital for limited partners and preferred equity investors alike.
Now, he is hosting webinars to pitch new water investments and CPA firm acquisitions. Don't fall for it. He cost me and countless other investors 100% of our money after stringing us along for three years.