We invested in Apple Reit product in 2007 and were told that our money would be liquid (some of it) within 1 year. Well we of course were holding off until more money was generated in accounts (that is why most people invest).
In 2012 we were having hardship (husband lost job) and wanted to get some of our money out. DL told us that monies can be taken out of accounts if hardship is shown. We submitted all the paperwork to them showing our liabilities.
After 3 weeks they came back to us and said that the hardship would have to be that we were at wit's end (foreclosure on home, etc..) in order for us to get any money from OUR INVESTED MONEY.
We had a small line of credit left and it was about to go into repayment period and they told us to use whatever we had left on our HomeEquity line of credit. They do not look out for the clients. Here we are trying to meet our bills because of my husband's unemployment (he only received $405/wk unemployment) and our bills were approx. 5,000 per month at that point) and they would not help us. There answer was Hit your line of Credit, or you can get some of your money back if you show servere hardship (losing home, on death-bed, etc..).
YOU can check your money in easily but you can't check it out when you need it.
They use your money to make money and play GOD with it.
Here is is almost 2015 and for 1-1/2 yrs now they said that they have a few potential buyers to buy some of the Apple Hospitalty products and at that point when bought then we can get our money (it can either go private or on the Stock Market).
In a nutshell. They suck, they lie and David Lerner lost his operating license for 2 years? Why? Well some of the reasons are above and also big reason, they lied to investors about some of their product's returns.
David Lerner Associates Inc. Reviews
We invested in Apple Reit product in 2007 and were told that our money would be liquid (some of it) within 1 year. Well we of course were holding off until more money was generated in accounts (that is why most people invest).
In 2012 we were having hardship (husband lost job) and wanted to get some of our money out. DL told us that monies can be taken out of accounts if hardship is shown. We submitted all the paperwork to them showing our liabilities.
After 3 weeks they came back to us and said that the hardship would have to be that we were at wit's end (foreclosure on home, etc..) in order for us to get any money from OUR INVESTED MONEY.
We had a small line of credit left and it was about to go into repayment period and they told us to use whatever we had left on our HomeEquity line of credit. They do not look out for the clients. Here we are trying to meet our bills because of my husband's unemployment (he only received $405/wk unemployment) and our bills were approx. 5,000 per month at that point) and they would not help us. There answer was Hit your line of Credit, or you can get some of your money back if you show servere hardship (losing home, on death-bed, etc..).
YOU can check your money in easily but you can't check it out when you need it.
They use your money to make money and play GOD with it.
Here is is almost 2015 and for 1-1/2 yrs now they said that they have a few potential buyers to buy some of the Apple Hospitalty products and at that point when bought then we can get our money (it can either go private or on the Stock Market).
In a nutshell. They suck, they lie and David Lerner lost his operating license for 2 years? Why? Well some of the reasons are above and also big reason, they lied to investors about some of their product's returns.