Norada real estate (Based out of Cali)

[Robert Keyosaki]

Does anyone have any information about this company, or actually done any deals with them?

They concentrate on pre-contructions in Florida.


Thanks!

[wricg]

Someone asked me about them a few months back, as they are pushing properites in Cape Coral and actually "guaranteeing" 34% appreciation. I called and asked for a brochure and after several minutes of persistance spoke to the VP "Marco Santarelli"...

I am not endorsing this company in anyway, this is just what i learned: They are basicaly a bridge between investors and builders (any and all builders), they do pre-construction and you put x amount down at contract and they find a buyer when complelted and then they SPLIT 50/50 the profit...i asked how they guaranteed 34% return and i never got a real good answer...i figured they would have some histroical track of trends and how past appreciation has worked. They work with builders all over the country and the flavor for this month is a Apartment in Texas that is clsoe to Baylor College...I would be curious to see what others have found...

Best...

[Bluemoon06]

I don't understnad why thy need you.  Builders don't need your money, they have consturction loans for that, and the buyer has his mortgage money, so why do they need your money?

Smells like a rat to me!

[wricg]

It looks like that act more as a bird dog, but taking 50% of the profit?

[Robert Keyosaki]

I was thinking the same thing. Why would they need my money. But here's the site for more info. I googled them to death, but couldn't find anything good or bad about them.  

www.noradarealestate.com

[Bluemoon06]

It looks legitimate with room for abuse.  The room for abuse is that they will have your $6000 per property and can be gone in a flash.  They also have your financial information that they can sell.  I didn’t see that they are a licensed mortgage broker.  I would find someone in my town that I can see and hit in the nose to invest with.  I guess I am just a control freak.  I would want to be able to visit my investments so that I can see if it is in the ghetto, or swamp land or next to a landfill. Real estate is all about location.  That means that I either have to understand the location or have someone in my network that I trust that does.
 
To fish them out, suggest that you will invest in one of the properties, but use your own mortgage company.  Tell him that you have a really good relationship with your company and that it will strengthen your business position for future deals with your mortgage company.  This will get him paid at closing just like any other people of interest in a real-estate deal.  The mortgage company can then act as a third party.  If he comes back and says that his financing is “special” or “different” and other banks won’t understand he is worth of scrutiny.

[realinvestor1]

I have done several deals with Norada Real Estate including in Cape Coral Florida. I have to say I'm very pleased with their service and expertice.

They know what they are doing and they made me a lot of money.
I started with the Cape Coral investment because I trusted Norada and because I have read an very positive article about Cape Coral. Also comps showed that the 34% appreciation was accurate.

Seb. from Las Vegas

[aak5454]

so Seb tell us why your first post on this board is on this particular thread.........and your comments are so glowing about the entity in question.......

[ckh]

Would also like to know if anybody knows anything about Norada?  I've been to their website and it looks legit, but has anybody done any deals with them?

[Verdoclev]

Hi,

I also went to the site and am very intrigued.
Please, more information needed?!

Paulo

[BoboTheKing]

so Seb tell us why your first post on this board is on this particular thread.........and your comments are so glowing about the entity in question.......

My first thought too.

[TamiSpartan]

Would also like to know if anybody knows anything about Norada?  I've been to their website and it looks legit, but has anybody done any deals with them?

Anyone can make a nice website -- ask the Red Cross about the problems they are dealing with regarding clone sites over Katria these days. Don't believe anything you read -- verify, verify and then verify again.

[Tim777]

That's right, a nice website does not mean much. They might be a good company, but here are my concerns:

their website Google pagerank is 0, they are not in search engines at all.. It means they(or the website) have not been around long time.

It is too easy to get started. They do not encourage to visit any locations and see model homes first, just send the money.

"Requires Only A Small Amount of Your Time" - if it's so easy to make money, why would not they do it themselves, and in any case why would they target lazy investors with bad credit and small equity? There are many hard-working investors who are really looking to invest much more money.

I think before doing anything, it makes sense to ask them for actual locations to be built and locations that were already built and see and talk to their owners face to face.(not a phone talk)

[mtnwizard]

I've received several emails from Marco Santarelli offering pre-construction condos in Vegas.  Seemed a little too good to be true.  I also am suspicious about someone's first post being conveniently supportive of this.  I'd like a lot more information from realinvestor1.  I have the same question, why do they need you?

One more thing.  To sell real estate, you must be licensed.  There is no info about the company so I'd be very careful with this one.

[marcus335]

Hmm, well someone has to volunteer to be the guinea pig and invest $6k.  Who's it going to be? haha....  

The only thing I can see is it may be cheaper than hard money for them depending on how long they borrow and what the points would be on a HML.  I'm guessing it's 34% APR or is it 34% total return over a set period of time?  

If it's short-term and the HML points are high then it may be better to pay private investors 34%.   If you pay 5 pts on a 3 month HML, then that's like paying 21% annualized plus the interest on the HML.  Not to mention they get all $6k from you and with a HML they'd usually have to pay the points up front.