new blog for SUN 1031 TIC Investors to SOUND OFF / take action

hi all:
a few people have mentioned starting a blog (or web page) so people who search for SUN1031 TIC's (tenants-in-common) get first hand accounts on the investments they own thru SUN1031. some owners are on an email list. but many are not, so perhaps this will also inform other owners of SUN1031 TIC properties & their dubious dealings.

hopefully, people can do a search & this page will come up to inform people.

MOST of these properties began selling in 2005. recently tho, SUN has a new sale out offering 9.12% returns.

there's plenty of info floating around re: these property investments in SUN1031 (located in AZ) TIC's and their choosing of a management company, CUSA, that did a terrible job while raking money from our investments via high fees. SUN1031 has sat passively by while watching this go on.

SUN 'flipped' properties to investors at a very large profit – most above @ 40% + gain – and without the benefits of appraisals to investors.

SUN1031 also insinuated that the original returns would be ongoing while the property was owned. actually, this was only in the first year of owning. SUN NOW spells that out clearly in offerings.

furthermore, the bank that SUN 1031 did MOST of their financing thru, First Bank of Beverly Hills (FBBH) has been recently seized by the FDIC. gee, wonder why?

the way SUN1031 set up these TIC's they were doomed to have trouble. just a few reasons...
1) overcharging for the properties.
2) choosing a poor management co. who charged HIGH FEES.
3) overstating returns & quality of the properties and the leases.

ok let's see how this goes & please post your stories re: this.