pacific property assets

[san]

as of 5/1/09
pacific property asset investors stop receiving interest payment, due to financial hardship.

I am looking for other investors to discuss the situation. maybe we can get
better answers in numbers.

thank you

[ali]

I have talked to PPA (Pacific Property Asset). They said that this delay is temporary but would take months to recover or solve the financial problem. As for the principal repayment, they mentioned that it would delay. Although they said that principal is secured by property and should be safe, I'm not sure about it.

Is there anybody who requested PPA to repay the principal?

[san]

hello ali

thanks for your response.
we should keep each other updated as we hear more info.
I hope this is temporary.
So are you doing anything else besides wait to see if situation resolves??

[san]

ali wrote:

I have talked to PPA (Pacific Property Asset). They said that this delay is temporary but would take months to recover or solve the financial problem. As for the principal repayment, they mentioned that it would delay. Although they said that principal is secured by property and should be safe, I'm not sure about it.
Is there anybody who requested PPA to repay the principal?

ali
thank you for your response

I don't know any other investors that requested the principal. but when i talk to them, they say principal is delyed as well.
We should be stay in contact and be vigilent in his matter.
Hopfully more investor will respond to this posting.
I will keep you posted on what I find out.

thank you
san

[Dan]

I know the attorney who are advising PPA and I also spoke with a restructuring firm with whom I work, and they are interested in organizing some of the lender/creditors. Please let me know if you would like to contact them.

san wrote:

<quoted text>
ali
thank you for your response
I don't know any other investors that requested the principal. but when i talk to them, they say principal is delyed as well.
We should be stay in contact and be vigilent in his matter.
Hopfully more investor will respond to this posting.
I will keep you posted on what I find out.
thank you
san

[san]

Dan wrote:

I know the attorney who are advising PPA and I also spoke with a restructuring firm with whom I work, and they are interested in organizing some of the lender/creditors. Please let me know if you would like to contact them.
<quoted text>

Dan
thanks for your response
are you a private investor with PPA as well??
yes, I would like contact them

thank you
sang,

[Ed Kader]

The more I think about it the more I am convinced this is a PONZI SCHEME... Collect from Peter to Pay Piper. Any investors wanting to discuss please contact me [e-mail]..... We need to act fast before we are left holding the bag... After talking to PPA representative I am convinced that their organization is fraudulent...

[PPA Investor Jim Brawner]

A group of PPA investors are forming to execute a recovery strategy. If you are a PPA investor, please contact me at [e-mail], or reply to this post. So far we have 5 out of 752 PPA investors banded together to attempt to recover our money. You can't do it alone. More investors equal lower attorney's fees for each of us... and we're already hurting financially. This is a serious post.

[PPA Investor Jim Brawner]

On Thursday I had a two hour meeting with Michael Stewart. Let me tell you that PPA is in very deep trouble. He admitted to me that if he was an investor, he would group togther and hire an attorney to oversee the PPA liquidation plan. My small investor group has already identified a highly skilled real estate attorney with experience in this area. He is reviewing the sitaution now. I have an appointment with him on Monday. Please contact me at [e-mail] so we can talk about recovering our money.

[Richard McDonough]

san wrote:

as of 5/1/09
pacific property asset investors stop receiving interest payment, due to financial hardship.
I am looking for other investors to discuss the situation. maybe we can get
better answers in numbers.
thank you

GO TO:: http://web.me.com/rpmcestmoi/PPA_RECOVERY/PAG...

[Richard McDonough]

Interested Parties should see this site set up to deal with what looks like a PPA meltdown.

http://web.me.com/rpmcestmoi/PPA_RECOVERY/PAG...

[Richard McDonough]

Ed Kader wrote:

The more I think about it the more I am convinced this is a PONZI SCHEME... Collect from Peter to Pay Piper. Any investors wanting to discuss please contact me [e-mail]..... We need to act fast before we are left holding the bag... After talking to PPA representative I am convinced that their organization is fraudulent...

Get organized. Go to this site: http://web.me.com/rpmcestmoi/PPA_RECOVERY/PAG...

[Richard McDonough]

san wrote:

as of 5/1/09
pacific property asset investors stop receiving interest payment, due to financial hardship.
I am looking for other investors to discuss the situation. maybe we can get
better answers in numbers.
thank you

Others are at: http://web.me.com/rpmcestmoi/PPA_RECOVERY/PAG...

[Richard McDonough]

Ed Kader wrote:

The more I think about it the more I am convinced this is a PONZI SCHEME... Collect from Peter to Pay Piper. Any investors wanting to discuss please contact me [e-mail]..... We need to act fast before we are left holding the bag... After talking to PPA representative I am convinced that their organization is fraudulent...

http://web.me.com/rpmcestmoi/PPA_RECOVERY/PAG...

[Richard McDonough]

san wrote:

hello ali
thanks for your response.
we should keep each other updated as we hear more info.
I hope this is temporary.
So are you doing anything else besides wait to see if situation resolves??

Serious situation requiring investor action
http://web.me.com/rpmcestmoi/PPA_RECOVERY/PAG...

[Horseracer 21]

OH Richard ...what a tangled web we weave!!
Pacific Property Assets
INVESTORS RECOVERY GROUP
Com' on...give me a break!!
"My name is Jim Brawner ... I've invested in PPA over the last 4 years.
On Thursday, 5/7/09, I had a two hour meeting with Michael Stewart. Let me tell you that PPA is in very deep trouble. Mike himself admitted to me that all PPA assets will be liquidated and the company has zero chance of ever recovering from this situation"
That is horse crap.....Mike is an attorney and a partner in the company....do you expect people to believe he would say something that stupid at this time to you or any one???
You don't have the money for an attorney but you finacially qualified to be an investor??
You had to have had a net worth of a million dollar to qualify to be an investor in PPA and now you do not have the money to hire an attorney?? maybe you should try small claims court...
That is a crock Richard..!! give us all a break...

[Horseracer21]

It is amazing to me how stupid and naive people really are!! Reading these posts above, like Ed Kader....you are a moron ED...OK!!
"The more I think about it the more I am convinced this is a PONZI SCHEME"..."you don't want to be left holding the bag"...what's in the bag Ed?? and why the hell would you be holding it...??
If you had thought like that in the first place why would you be in this investment to begin with??....hindsight is always 20/20
"You know what thought...thought?? He thought he farted but he shit in his pants instead"
I was a PPA investor in the past and know the principals very well, I have known John Packard since college & this is no PONZI scam OK!!
I was a very successful investor for three years with them after my divorce and got paid in full after 3 years of getting checks like clock work. I did not get back in because I need the cash to capitalize my business again.
Mike and John are smart real estate professionals...and they work their asses off to make money for themselves and their investors for 10 years now.
All 752 PPA investors knew exactly what they were getting themselves and why...you did read the prospectuses did you not?? they were pretty clear in them as to the risks involved and you all signed them right??.....
The Stockmarket was a loser as were mutual funds...etc...no one offered this rate of return and that is why all of the 752 people invested with them , they had a perfect payment record....and it was backed by a tangible asset....real estate...and still is....this not a Madoff rip off by any means....who did not have any assets ..other than his mouth...
I am not a PPA spokes person here, but I will tell you this if I was still an investor, I would leave these guys alone for awhile and let them sort this out....that is YOUR best chance of getting paid....if you file law suits it will accomplish nothing more than add grief to the very people you trusted with your money to begin with and create a distraction than will ultimately come back and bite you in the ass. Remember that prospectus and contract you signed?? You have no case ...you were fully informed and you now you have to take resonsibilty for that. If you hire an attorney and sue ...you will lose , number one and number two....cost yourself even more money....only lawyers make money in law suits 99% of the time.
Let them go forward and try to salvage this , time is on all the investors side...given that all their property holdings will regain their value....apartment buildings will come back....and you will get paid back, eventually. Now if you want to form a vigilante type law suit and go after them after missing ONE PAYMENT than I believe it will not serve you at the end ....you will burn the only bridge to recover anything!!
Bottom line here is...we are in the worst economy we have all ever seen and Wall Street ate through half of yours and my 401K....why don't you sue them?? Wall Street looks more like a scam than PPA....when you owned stock....what did you actually own?? Think about that for a while...I have....you want safe and non productive investments...but your money under the mattress....but don't bet on a horse in a race and after he loses go back to the teller that sold you the ticket and demand your money back...or you will sue him for selling you the ticket!!
Bite the bullet....live up to your agreement with PPA and give them the chance to bail themselves out and in turn you. Don't be a cry baby whimp and run for cover.....reward comes only with risk....
MAN UP already!!

[Richard McDonough]

san wrote:

as of 5/1/09
pacific property asset investors stop receiving interest payment, due to financial hardship.
I am looking for other investors to discuss the situation. maybe we can get
better answers in numbers.
thank you

Have you found satisfaction re their non-payment and are you going to get representation to deal with it. I am inclined to do the latter. I am in Irvine as well.

[Carlos barrot]

I really doubt that you had this meeting and he told you what you posted. Before you go trying to sue after ONE missed payment, you should let things settle a bit and let them explain what their recovery plan will be. I am also an investor and knew before hand what the risks were and so did everybody else. If everybody starts suing them, it will take away from their energy as to what to do to refinance some of their properties which is how they will repay their loan obligations, not thru getting sued right away.

PPA Investor Jim Brawner wrote:

On Thursday I had a two hour meeting with Michael Stewart. Let me tell you that PPA is in very deep trouble. He admitted to me that if he was an investor, he would group togther and hire an attorney to oversee the PPA liquidation plan. My small investor group has already identified a highly skilled real estate attorney with experience in this area. He is reviewing the sitaution now. I have an appointment with him on Monday. Please contact me at [e-mail] so we can talk about recovering our money.

[PPA Investor Jim Brawner]

Carlos, getting legal counsel doesn NOT mean suing them. We simply want to know how bad things are. For example: Are several properties in default? Are the tenant rents actually paying enough to keep PPA above water? What are you giving them time to do exactly? Fall deeper into debt, or come up with an realistic restructure plan? How do you know this is possible if you don't know the real status of the company? That's all we want to do and we need an attorney to do it. No lawsuits... just getting the facts.