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 Post subject: Re: Agape World inc
PostPosted: Fri Jan 23, 2009 9:11 pm 
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Joined: Tue Jan 20, 2009 12:00 am
Posts: 22
"The project is ahead of schedule, AGAPE is the lender/partner in the project and has never missed a payment for the construction. .... "


As I stated before this doens't make any sense. I don't proffess to understand your industry so pardon my ignorance, why would AGAPE be making payments to you? Wouldn't this be a hole and foundation loan, to get the project going, ( as is the traditional bridge loan for construction) not a full construction loan? I beleive the investors where told it was a short term loan to get the project off the ground. Hence the confusion. PLease explain?


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 Post subject: Re: Agape World inc
PostPosted: Fri Jan 23, 2009 9:14 pm 
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Joined: Mon Mar 31, 2003 10:09 pm
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Just so everyone knows, I have been warning the people who are not "playing nice" in this message thread, and given warnings. The ones that are not listening to the warnings are having their permission to post turned off. If the rest of you do not want your permissions turned off also, watch what you say!

Facts! If you have a letter or email that backs those facts, pots it.
No name calling of any kind! We are not in third grade here people. Let's act like adults.
Instigating a verbal fight or verbal mudslinging will not be tolerated.

If these simple rules cannot be followed, more people will have thier permissions turned off.

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There is strength in numbers!

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 Post subject: Re: Agape World inc
PostPosted: Fri Jan 23, 2009 9:21 pm 
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Joined: Sun Dec 21, 2008 7:07 am
Posts: 8
http://libn.com/libizblog/2009/01/23/pyramid-victim-packed-a-punch/

for those that haven't seen the link on fatwallet. it's getting ugly.


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 Post subject: Re: Agape World inc
PostPosted: Fri Jan 23, 2009 11:42 pm 
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Joined: Tue Nov 04, 2008 3:27 pm
Posts: 36
people - the debate is over. Nick is going to jail, and a lot of good people lost a lot of money. The difference with Madoff was that he stole from wealthy people that could afford to lose, or were nerdy white collars who were embarassed. Nick stole from hourly workers who are pissed and his safety is now in jeopardy - as displayed by the fight at the office this afternoon. this is gonna get uglier


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 Post subject: Re: Agape World inc
PostPosted: Sat Jan 24, 2009 12:12 am 
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Joined: Thu Dec 11, 2008 3:52 pm
Posts: 29
Nick Cosmo a causuality of Bernie Madoff. Madoff blowing up turned up the heat on Cosmo. Great theatre.


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 Post subject: Re: Agape World inc
PostPosted: Sat Jan 24, 2009 12:27 am 
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Joined: Tue Jan 20, 2009 12:00 am
Posts: 22
i agree that Madoff helped people look at this realistically otherwise it may have gone on alot longer. it's a shame though Madoff involved big money...this creep is gonna effect alot of little guys.


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 Post subject: Re: Agape World inc
PostPosted: Sat Jan 24, 2009 1:38 am 
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Joined: Sat Jan 24, 2009 1:25 am
Posts: 1
Hi Nick If you around I know you are near a computer. Please tell us, your investors who trusted you with our life savings, will you be going back to work to recoup our money soon?


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 Post subject: Re: Agape World inc
PostPosted: Sat Jan 24, 2009 9:32 am 
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Joined: Sat Jan 17, 2009 6:17 pm
Posts: 12
I thing investor panic will calm down if someone could prove that Agape merchant advance was legit, if so, there should be dozens of small businesses out there who recieved merchant advance loans from agape. that should not be that difficult to prove. Can someone please do this, then we can all relax.


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 Post subject: Re: Agape World inc
PostPosted: Sat Jan 24, 2009 9:43 am 
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Joined: Fri Jan 23, 2009 3:55 pm
Posts: 3
reality. give it a rest buddy. it must kill you to have had this happen. take off the horse blinders already. stop posting for crying out loud. get in the back of the "class action law suit line" like everybody else.


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 Post subject: Re: Agape World inc
PostPosted: Sat Jan 24, 2009 9:45 am 
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Joined: Sat Jan 24, 2009 9:40 am
Posts: 4
The worst part is when you call Agape the answer you get is "I don't know" How could a company that is supposedly so great and have millions of dollars from people give answers like "I don't know". Does anyone know for sure that he got punched in the face yesterday? I really hope this works out. I honestly doubt that these guys are ready for jail rather than figure out a way to get everyones money back. Right?


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 Post subject: Re: Agape World inc
PostPosted: Sat Jan 24, 2009 10:08 am 
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Joined: Thu Jan 22, 2009 5:58 pm
Posts: 18
To everyone who cares to listen to some reason; I would like to state the following. As the Agape web site claims:

"We are not a mortgage company or regulated lending institution. We traditionally do not purchase real estate but have taken equity positions if we like the future of your project. We have private sources of financing for bridge loans. Depending upon the borrower's time frame and the circumstances, interest-only loans as well as fixed-rate loans are available. Additionally, Agape World Inc. can provide financing at the time of acquisition, or years after an acquisition, in order to free trapped equity. These special situation loans can be placed instead of or alongside conventional financing to provide winning solutions where others may only see problems. Our firm can fund viable transactions of any size."

Thus; AGAPE liked the proforma of my Carriage Homes project in Maine, and they took an equity position in the project as the funder of the construction needs. So, as the funder, AGAPE provided construction funds to the project. They were given regular monthly requisitions for construction expenditures and they promptly paid them, without fail. As a result of their payments to us, we have reached 45% substantial completion of the project as of just yesterday. We expect to be 95% complete on or about the beginning of July 2009. If that completion date is met, and we see no reason other than a lack of funding, to stop the completion; the units (8) total, will be on the market and sold by a target date of Oct. 2009 - and because AGAPE took an equity position, they stand to make a very hefty return on the investment. Their return or ROI is so significant that it is more than sufficient to both, pay a 10 - 15% return to investors of theirs, and to sink the remaining funds into another project. This should answer the question about why AGAPE is making payments to us. Construction is not done. They funded construction. They make payments to us until done. Then we either take an end loan from a traditional source, or we sell the units off for a nice margin.

As for Carriage Homes being in default; that just is not the case. We owe nothing to anyone, and in fact are regarded to be one of the best projects under way in this area. Subs and vendors are all paid in full and very quickly. Some paid in advance so they can obtain materials etc. We do not owe the lender/investor/equity partner a dime until we are done. With all of the bad press, false inuendos, and outright hysteria and lies, this project may stop so it can acquire additional funding - if AGAPE is not able to continue. That would place a burden on other investors to AGAPE, in that if the project stops, then the end goal may not be met. So, the trashing of people, the rampant disregard for truth and fair play as portrayed in this web discussion, may ultimately destroy an otherwise good project - and hurt more people yet.

It is appalling to see remarks about going to one's office and engaging in physical violence against Nick or anyone for that matter. How does assaulting a man get you your money back? Money issues are a civil matter, while assault is criminal in nature.

I don't profess to have the answers about AGAPE at this point but, they should be given their opportunity to work things out with their investors. And, I should not be subject to the nasty - crude and obnoxious calls to my company, my home, our lawyer's office and home, and we should not be subject to the vile accusations that have been leveled upon us and this project.

An irony exists in some of this. People who take the risk of puting monies into an investment that provides for higher than normal returns, do so at their own choice. While they may be sceptical, they still take the risk. They do so becasue they want to make more than others could or would, in safe environments and in other circumstances. That says, you are willing to take the risk - as long as you are gauranteed your pound of gold. But, if the risk does not pay out as planned, the balme is shifted to everyone but one's self. I have learned in life, we can't have it both ways - not all the time.

I wish a resolution for all AGAPE investors. And, I wish a resolution for AGAPE and Nick as well. Without the funds to finish this project, we will risk a failed project and not experience a success. It isn't easy to take a risk in these economic times - we did up here. And, we are employing people in bad times. AGAPE took a risk on this project. You all took a risk on AGAPE. From what I can see, eveyone is judging AGAPE as the Titanic going down. I am an optimist I see a lot of people in the water, jumping ship, and freezing to death while the ship moves on trying to regain it's bouyancy and making it to shore.

In the final analysis - I wish you all well. I made myself available for anyone to call. Many of you have, and several people have even made arrangements to come and visit the project in Maine. Those are the people with open mind and vision. They are going to find out the facts for themselves and not rely on trash talk. They are the ones that will make it to shore.


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 Post subject: Re: Agape World inc
PostPosted: Sat Jan 24, 2009 10:14 am 
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Joined: Thu Jan 22, 2009 5:58 pm
Posts: 18
014450

A default in a construction project can occur if the construction project is either stopped, or it becomes late in production, and or if it should be abandoned for some reason. Thus, owners, investors, or others can claim a default by the contractor or developer in those cases. However, a default interms of monies, is not the situation that would befall a project, as the funds are coming into the project from the funder and not the other way. However, if the ontractor is paid from the funder, and the contractor does not pay its subs and vendors, the contractor could be considered in default - but to the subs and vendors, not a lender.


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 Post subject: Re: Agape World inc
PostPosted: Sat Jan 24, 2009 10:19 am 
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Joined: Thu Jan 22, 2009 5:58 pm
Posts: 18
Correction of typo:


This should answer the question about why AGAPE is making payments to us. Construction is (now) done. They funded construction. They make payments to us until done. Then we either take an end loan from a traditional source, or we sell the units off for a nice margin.


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 Post subject: Re: Agape World inc
PostPosted: Sat Jan 24, 2009 10:24 am 
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Joined: Sat Jan 24, 2009 9:40 am
Posts: 4
hey Maine,

In simple terms and not a long post very simply. Do you think that the Agape investors got scammed? what do you think honestly.


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 Post subject: Re: Agape World inc
PostPosted: Sat Jan 24, 2009 10:27 am 
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Site Admin/Co-Founder

Joined: Mon Mar 31, 2003 10:09 pm
Posts: 2921
DRAGON TAILS wrote:
hey Maine,

In simple terms and not a long post very simply. Do you think that the Agape investors got scammed? what do you think honestly.



I think that was already answered here.

Quote:
An irony exists in some of this. People who take the risk of puting monies into an investment that provides for higher than normal returns, do so at their own choice. While they may be sceptical, they still take the risk. They do so becasue they want to make more than others could or would, in safe environments and in other circumstances. That says, you are willing to take the risk - as long as you are gauranteed your pound of gold. But, if the risk does not pay out as planned, the balme is shifted to everyone but one's self. I have learned in life, we can't have it both ways - not all the time.


so let's move on

_________________
Shawn Mosch
Co-Founder of http://ScamVictimsUnited.com
There is strength in numbers!

Share your story with the media and educate others about scams! Details here http://scamvictimsunited.com/phpBB2/viewtopic.php?f=28&t=6319
Sign our petition http://www.change.org/actions/view/crea ... s_programs
Follow our blog http://scamvictimsunited.wordpress.com/
Find us on Twitter, Facebook and more http://www.retaggr.com/page/ShawnMosch
_______________________________________________
Has this site helped you?
Buy us a coffee to say thanks ~ http://www.scamvictimsunited.com/donations.htm


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