This started out as a great investment opportunity. A short-term note at 10% interest secured by the real estate (land) with an Operator who had reportedly done over 400 deals and had been syndicating deals since 2012. Distribution payments had been received on time for almost the full first year. Then the notices started to come through - notices from a Certified Fraud Examiner and then the U.S. Department of Justice (DOJ) & Federal Bureau of Investigation (FBI) San Antonio Division. Apparently Devin Elder (his company DJE Texas Management Group) has been charged with a felony count of Wire Fraud and Prosecutors are saying he used investor funds in a way that resembles a Ponzi-style scheme. Also as part of a plea agreement, he has agreed to plead guilty to the offense and has agreed to pay approximately $66 million in restitution to the people he defrauded. It's been reported the government is moving to liquidate his real estate holdings to help compensate victims. As an investor in one of the deals it is quite disappointing to learn of this situation. Who knows what others within the organization knew or didn't know. Justin Liggit was our investor relations contact. Should you come across Devin Elder in the future, likely under a different name or company name, INVESTOR BEWARE!!

Devin Elder is defrauded investors and pled guilty to wire fraud. At the time of this review, he is awaiting sentencing. He's been ordered to pay back $66M to investors. I was involved in a strong multifamily asset, with fixed rate debt, bought at a great basis in 2020 in TX. It should have been a home run. A lesson to all LPs that the jockey matters more than the horse. I really spend time on due diligence and understand the finance and operations sides of running apartment complexes. That's what makes this so tough to learn from...cause it was almost impossible to see coming. Diversify your portfolio!

My experience with DJE Texas Management has been overwhelmingly positive. I've invested in three opportunities so far. One investment went full cycle returning what was expected in a shorter amount of time. The second one, recently faced some challenges via a partnership which has been a learning opportunity for the team and yet over time should turn out ok. DJE Principle, Devin Elder's proactive involvement ensured a swift resolution by actually taking over the entire deal upholding the commitment to safeguarding his investor’s capital at a personal loss to himself. The returns might not meet initial expectations on this particular investment, but Devin's dedication to maintaining an unblemished track record in relation to not losing investor capital is commendable. The third investment is currently performing as expected with zero issues. What sets DJE apart is their excellent communication with investors—an attribute that stands out. I've known Devin for years now, and his local presence added an extra layer of confidence when I would introduce DJE to family and friends as a solid alternative investment opportunity. DJE's track record, commitment to investors, and effective communication make it a reliable choice for those seeking successful limited partnerships in real estate investments.