Four Peaks Capital Partners

I invested with Four Peaks Capital in 2019. They were all marketing hype and made many false promises to string investors along. They stopped all correspondence almost a year ago despite numerous inquiries. The investments were in mobile home parks and they were all incredibly mismanaged, and I never received a dime from them. The correspsondenc was always poor from the outset, but every 6 months they would reappear with a sporadic update about how they were going to fix things. However, those were all delay tactics to keep collecting fees. I'm assuming they are no longer communicating as there is fraud occurring. I even emailed them stating that if they did not respond despite my numerous attempts to reach them over many months that the assumption would be that there was balatant fraud occurring; yet, there was still no reply. We don't have any K1s and they took down all their websites, so clearly there was massive impropriety. These are the exact type of unscrupulous characters you hear about in the news. It is a great service that we have Invest Clearly to shed light on these individuals so others don't fall for their tactics. If the other reviewers or other investors would like to contact me I would be happy to speak to you. We can join together to report them to the SEC and other agencies as well as pursue legal action.

When I began investing with the persons running Wavemark (Mike Ayala and Kara Ayala) they had a different company name and an additional partner, Andrew Lanoie. The name of the fund was Four Peaks Mobile Home Park Income Fund 5. However, these people shape shift and have to re-invent themselves and rename their companies in order to continue to operate. Their business acumen is less than zero yet they continue to try to raise funds from unsuspecting people. I invested in 2018 and the business plan was to raise money to improved Mobile Home parks, refinance or sell and give LP's their share. Their quarterly reports were weak from the beginning and lacking key details. I get other reports from general partners so I have a lot to compare to over time. Also, nearly every year, their K-1 came on the last possible reporting date of Sept 15. They did not use professional property management software and T-12 looked like a beginner excel sheet. I am sure their accountant had a challenging time producing those K-1's. For that reason alone, I would advise NEVER investing with him or his ilk because they have such poor business skills and no way to really track KPI's with those homemade sheets. Things went sideways right away and my belief is they paid themselves acquisition fees (not disclosed), were poor general contractors, overpaid for parks in their desperation to get under contract and generally had no clue how to execute their business plan. We never got our pref distributions. In 2022-2023 they needed more money to improve the parks and reinvented from Four Peaks to Wavemark. Couldn't get it right the first time, so with no changes to their structure, they decided to try again. Their promise to those new investors was a high interest rate and deeds to mobile homes. As an original investor, I was excluded from this mailing list bc they knew I would never give money to them based on past performance. Others did though and what happened to that money is extremely unclear. Several parks have been sold (no notification to investors), a couple were forced to be sold bc of large overdue utilities payments and the rest generally look awful and have had no improvements. If you search Four Peaks and Mike Ayala and Park Place Communities you will find articles all about this negligence. Their residents paid for utilities and they kept that money and did not pay the municipalities. This is theft. Several years ago, Andrew Lanoie decided he wanted out. Mike was still communicating to us at that point. He said they were still determining his buyout which shocked me. The T-12 reports showed NEGATIVE NOI year over year over year. The parks literally had zero value and would sell for maybe 10-20% of original value (and at a pro forma at that so few potential buyers could do that). Yet they were "rewarding" him with a buyout. When we asked questions, we were shut down. Perhaps his buyout is where some of the Wavemark funds went - again theft! Just because Andrew wants out, does not absolve him from responsibility. Fast forward to 2025 and Mike decides he will longer communicate with us. Rather than being honest, he hides and ignores emails and requests for information. They have produced many podcasts over the years. Funny they promote honesty, courage, leadership yet display none themselves.

Mike Ayala and his team (wife Kara Ayala and partner Andrew Lanoie) are suddenly unavailable. They are not returning investor phone calls, their website is down, their CPA firm cannot get ahold of them and there is not information anywhere except on Yahoo news that Mike Ayala owes almost $100k in water bills for this mobile home park: https://www.yahoo.com/news/articles/alexandria-mobile-home-park-residents-221900622.html There is a warning on this forum (Invest Clearly) against another company he "owns" (Wavemark Capital) that warns against fraud and also against Four Peaks Capital Partners and and anything Mike Ayala related on Reddit: https://www.reddit.com/r/investing/comments/1rnn8w6/mike_ayala_kara_ayala_andrew_lanoie_wavemark_four/ If you have any information on how to contact Mike or how we can hop on board an assist in prosecution and/or returning investor capital, please get in touch with me. Thank you!