Anyone heard of or invested in Bridgecreek?

[Marcus99]

Hello,

Has anyone in Vancouver, or across Canada invested into the Bridgecreek group of companies? (www.bridgecreekdc.com)

I recently came into an inheritance and was looking for a place to get a great return relative to a low-moderate risk level. My contact at Bridgecreek has provided me with detailed information and project details and I feel really comfortable investing my money, but I thought I should do a little more due diligence with more savvy investors.

For my $ 200,000 investment I earn 14% annually and in 3 years I have the option of taking my principle back or re-investing into another one of their projects.

They are focuses on recreational property in Alberta, I figure with all of the oil money and growing population they are in a great position? Anyone have conflicting thoughts?

Thanks in advance for your help and advice.

Marcus

 

[UTCVenturesLtd]

QUOTE (Marcus99 @ Feb 19 2008, 05:27 PM) Hello,

Has anyone in Vancouver, or across Canada invested into the Bridgecreek group of companies? (www.bridgecreekdc.com)

I recently came into an inheritance and was looking for a place to get a great return relative to a low-moderate risk level. My contact at Bridgecreek has provided me with detailed information and project details and I feel really comfortable investing my money, but I thought I should do a little more due diligence with more savvy investors.

For my $ 200,000 investment I earn 14% annually and in 3 years I have the option of taking my principle back or re-investing into another one of their projects.

They are focuses on recreational property in Alberta, I figure with all of the oil money and growing population they are in a great position? Anyone have conflicting thoughts?

Thanks in advance for your help and advice.

Marcus

Hi Marcus,
I have seen them advertise in the Calgary Herald many a time. I think at this point, they are still trying to raise money. To my knowledge, no actual work has begun yet on the Crowsnest Pass project. My house down there has tripled in value since i bought it in Apr 2005. I would suggest not putting all of your eggs in one basket. Maybe $50K each project. You can find some experienced REIN members here looking for Joint Venture partners. Watch for their websites in their signatures and see what they have going.
Dean
[email protected]

 

[RedlineBrett]

QUOTE (Marcus99 @ Feb 19 2008, 05:27 PM) Hello,

Has anyone in Vancouver, or across Canada invested into the Bridgecreek group of companies? (www.bridgecreekdc.com)

I recently came into an inheritance and was looking for a place to get a great return relative to a low-moderate risk level. My contact at Bridgecreek has provided me with detailed information and project details and I feel really comfortable investing my money, but I thought I should do a little more due diligence with more savvy investors.

For my $ 200,000 investment I earn 14% annually and in 3 years I have the option of taking my principle back or re-investing into another one of their projects.

They are focuses on recreational property in Alberta, I figure with all of the oil money and growing population they are in a great position? Anyone have conflicting thoughts?

Thanks in advance for your help and advice.

Marcus

There are REIN members that could give you just as good a return but you`d have your $$ invested in CASHFLOWING real property - not land for development or a section on the outskirts of town hoping and praying to be annexed

 

[albainstar]

I agree with the above posts

I looked at bridgecreek and chose not to go with it. I didnt like the stage of building(or not) they were in and they dont compound the intrest plus I didnt want to be locked if for so long.

I also agree a good JV should give you this return or more and it is in actual property that already exists.

I second that I wouldnt put the whole 200k in the investment either, if you spread it out you may earn better intrest over the average of the investments AND you will significantly reduce your risk as well.


I found other option I went with. signature capital becouse I needed to reinvest in my RSP that i had drawn on years ago to buy my fist home. So thier investmetn is rsp eligble ( which bridgecreek is as well)
but the intrest compunds (or they will pay out quarterly) so even if i had a lower ywarly intreat rate, if you compound it it may equal more. I am getting 15 percent return plus the compound factor
and it is property that exists
AND best of all to me the time frame was only 1.5 years.

 

[Marcus99]

Thanks for the help so far guys,

I guess it depends who you are and how you invest, but I was looking at Bridgecreek as a short term investment, being that the maturity date would only be 3 years away. Plus with the quarterly interest that I receive, I can put that towards the vacation homes they are building?

Also, I did actually take a road trip through there in January while I was skiing in Fernie and construction has begun so I am not sure when some of you were looking into Bridgecreek.

I like the alternative of a JV, being that $200k would representing less than 10% of my portfolio I am not too concerned about spreading risk (15% is my largest position in any single company), but with a JV do you not carry more risk in the sense of liability? i.e. being sued?

Maybe I am misinformed?

This is all fairly new to me, I am mostly invested into the equity markets, and besides owning my own homes and those that are rented, I have never looked at investing in a development this large or doing something myself.

I don`t know, it seems like this is a popular "style" of investment though which does comfort me.

I will take the advice of investing in two of their projects, one their community and the second their project on the lake that offers profit sharing, which offers much higher "potential".

Thanks and I am still open to advice if anyone else has any.

 

[DonCampbell]

Knowing the Georgraphic area well, I HIGHLY recommend that you take out the Goldmine Scorecard and due diligence checklists as if you were buying a property there, not a security. This will tell you what`s real. (in addition to the key numbers on the Scorecard: Take a very detailed look at the length of the airport runway and whether the `proposed` charters flying in can take off with full loads or not.)

Remember, these types of investments are NOT real estate investments, they are securities with limited control and very limited exit options if you need to get out if the fundamentals begin to shift.