United Development Funding IV fka UDFI

[56Chevy]

I've been hard on Greenlaw & co for sure ..he has a way of creating uneasiness. He operates UDFI like its an unlisted REIT. Whatever.

Then you add in this trifecta dispute between Bass and Greenlaw/MM and it's not hard to put together that there is alot of bad blood between these guys. And what we're caught up in is their own private war..and to hell with everybody else.

Last July EI posted this and I think it's worth revisting;

I was so bored last night that I reread the affidavits. Just like watching a movie a second or third time, I realized that I missed some important details.

The problems actually started in 2008 when UDFLOF LP became a limited partner in a residential development fund managed by Bass and Woods called Hayman Woods Residential Strategies Fund, L.P.

Hayman Woods made a bid in a bankruptcy proceeding to purchase the Stoneleigh Residences, a partially built luxury condominium building in an area called Uptown in Dallas that had fallen victim to the financial crisis and ended up in bankruptcy. Hayman Woods lost its bid to Centurion American.

I also found it very interesting that the first investment had an interest rate of 12% with an additional 2% exit fee.

Interest rates at 13% don’t look very strange now, do they?

UDFLOF withdrew funds in 2009.

EI would never say this and I respect that but imo Bass' short n' distort scheme certainlly seemed to have a twist of vindictiveness to it.

So what do we do? There's not much we can do. Wait till somebody blinks. ":-[