Complaints

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:01/16/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I am currently having issues with the website loading. I keep getting SOMETHING IS WRONG. I tried to google diversyfund Login and i am able to get to the website. When I click LOG IN i get the same SOMETHING IS WRONG. I am not sure if the website is still active.

  Business Response

  Date: 01/17/2023

  Hi there,

   

  Apologies for the issue you have been having accessing the site.  You should not experience this at this time.

   

  Please attempt to login and if you still have issues please contact us at *********************.

   

  Thank you,

  Christopher

  Customer Answer

  Date: 01/22/2023

  I will like a refund of my initial investment. I have neot been able to log in since last December. How can I have faith in an investment company when there is no transparency. This is annoying. I can not log in to the site and I am given solutions that do not work. Please it has been close to 3 years and I would like a refund if I can not log in to the site to see my transactions and my portfolio.

  Business Response

  Date: 01/30/2023

  Hi there,

   

  Please email us at ********************* and we will help you access your account.  Unfortunately, the investment cannot be refunded in the middle of the investment term.

  That said the fund does have a 5 year term with two one year optional (fund manger's discretion) extensions. The five year term ends in Nov. 2023. This information is available in the Offering Memorandum Pg. 17:
  "Term of the Company
  We will begin deploying the capital we raise in this Offering once we have raised at least $100,000, which we refer to as the “Initial Closing Date.” We intend to operate the Company for a period of approximately five years from the Initial Closing Date, with the option of up to two additional one-year extensions at the discretion of the Manager.
  To wind down the Company, the Manager will seek to generate liquidity for Investors and realize any gains in the value of our investments by selling or refinancing our properties and returning capital to Investors on an orderly basis. Sales and refinancing will be subject to prevailing market conditions and there is no guarantee that we will be successful in executing any such liquidity transactions on terms favorable to the Company and Investors, or that we will be able to do so within the time frame we have anticipated."

   

  Please email support and we will help you get into your account.

   

  Thank you,

  Christopher

• Initial Complaint

  Date:01/10/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Where is my Money?I deposited $500.00 into a Diversyfund Account at the same time, I tried another service of the same type. I wanted to see which one would perform better with the thought that once I made my decision, I would withdraw from the one that didn't work as well. I made my decision this year, and Diversyfund was not the answer for me; however, when I went to my account to withdraw my investment, I found that my initial $500 investment was not there. So I reiterate my question. Where is my money?

  Business Response

  Date: 01/17/2023

  Hi there,

   

  Apologies for the confusion, your $500 investment is still valid with us.  We are experiencing an issue with users seeing a $0 balance mostly on mobile.  If you go to your account via desktop, on chrome, you should see your proper balance.  We also initiated a cash dividend distribution for REIt l investors in 2022.  Please see the email below:

  
  DiversyFund is pleased to announce the first cash dividend distribution to investors in the ** Growth REIT, LLC (REIT I) fund. This initial distribution totals $4 million, and it represents an approximate [6.1%] annualized return for REIT I investors. In comparison, in 2022 stocks, bonds, and public real estate funds have returned *****%, ******%, and ******% year to date, respectively.* 
  We expect to process this dividend by December 31, 2022. You will see this distribution reflected on your dashboard under cash available. To ensure easy withdrawal of your funds, please verify you have the correct bank account listed in your profile. Keep in mind, the annualized return represented by this distribution is based on the sale of assets in the portfolio and does not represent the prospective total return for Growth REIT I. ******** is continuing to perform as expected.

   

  Please reach out to ******************************** if you have not received your distribution.

   

  Thank you,

  ***********

• Initial Complaint

  Date:01/04/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have invested $1,000.00 with diversyfund with the promise of monthy dividends. Dividend payments stopped a few months after investing. They have not paid dividends in years and refuse to refund my money.

  Business Response

  Date: 01/10/2023

  Hi there,

  Please see our most recent email:

  On 12/21/2022, we sent you an email announcing the first cash dividend distribution to investors in the Growth REIT I via a new platform feature, Cash Available. These dividend distributions were set to occur on 12/30/2022.
  
  What happened: Due to technical reasons, we were unable to activate the Cash Available feature and functionality on investor dashboards by the time of the initial distribution. Therefore, investors were unable to access their distribution.
  
  How we responded: To keep our commitment to complete the distribution of cash dividends by 12/31/2022, we decided to initiate ACH credit transactions to investors with complete/verified bank accounts. These transactions were initiated on 12/30/2022. Transactions to investors with ******** accounts were also processed at this time.
  
  Some investors have not received this distribution due to incomplete bank account information or self-directed **** If you did not receive your cash dividend distribution, here is what you need to do: 
  Regular investors: Update your bank account information via the dashboard. We will initiate a transfer once your account is verified, and you will see your cash distribution within 2-3 business days from the day the cash dividend distribution is initiated. 
  ******** investors: Your distribution was wired directly to ******** on 12/30/2022 and should show up in your ******** account within **** days. If you invested in REIT I outside of your Alto nking accounts once per week until all investors have received their distribution and/or by 1/31/2023. Again, please allow 2-3 business days from the day the cash dividend distribution is initiated for transactions to show in your bank account.
  We apologize for any confusion created, and we are working to get the Cash Available option up and running as quickly as possible.
  
  
  Thank you,
  
  The DiversyFund Team

• Initial Complaint

  Date:01/04/2023

  Type:Sales and Advertising Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Non responsive. The site credentials never work.

  Business Response

  Date: 01/10/2023

  Hi there,

  Apologies for the issues you have had accessing your account.  We recently announced our cash dividend distribution which caused the site to be slow for a few hours.  Please see the announcement below:

   

  On 12/21/2022, we sent you an email announcing the first cash dividend distribution to investors in the Growth REIT I via a new platform feature, Cash Available. These dividend distributions were set to occur on 12/30/2022.
  
  What happened: Due to technical reasons, we were unable to activate the Cash Available feature and functionality on investor dashboards by the time of the initial distribution. Therefore, investors were unable to access their distribution.
  
  How we responded: To keep our commitment to complete the distribution of cash dividends by 12/31/2022, we decided to initiate ACH credit transactions to investors with complete/verified bank accounts. These transactions were initiated on 12/30/2022. Transactions to investors with ******** accounts were also processed at this time.
  
  Some investors have not received this distribution due to incomplete bank account information or self-directed **** If you did not receive your cash dividend distribution, here is what you need to do: 
  Regular investors: Update your bank account information via the dashboard. We will initiate a transfer once your account is verified, and you will see your cash distribution within 2-3 business days from the day the cash dividend distribution is initiated. 
  
  We apologize for any confusion created, and we are working to get the Cash Available option up and running as quickly as possible.

  If you still have issues please email us at ******************************** and we will assist you.

• Initial Complaint

  Date:12/27/2022

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I invested with Divesify Fund since 2020 and my current balance is $5650. Later this year I received an email letting us know we could not add anymore funds to the account. So that meant my investment goals could no longer be fulfilled in the 5 year timeframe. I reached out to them by email to complain as to why they stopped paying dividends and an official by the name H. Kari responded with the standard letter they sent to most investors like myself.
  The response was disappointing because I requested to withdraw all my fuds.
  I explained that there was no purpose in keeping the money since there is no more hope of getting any dividends. Their explanation of money being tied up in investment properties seems to be deceitful.
  Any investment company makes forecasts on investments and they should have known what the future looks like. They are showing lots of red flags in their denials and excuses.
  
  There is no evidence of any investment properties like what other similar investment groups like Fundrise do, Their hypothetical projection of $11,861 in 2028 on a current balance of $5600 is unrealistic. I know how to calculate future value of any investment and 100% return on $5600 in 5 years is fantasy.
  
  All I want is to get out fast and cut my losses.

  Business Response

  Date: 12/30/2022

  Hi there,

   

  Apologies about the confusion regarding the return of your investment.  What you are referring to is your dividends you received prior to the close of the investment meaning we could not accept more funds.  We are looking to open a new fund in 2023 for investment. 

   

  We just announced our cash distribution for the year of 2022 for your REIT 1 investment of 6.1%.  ACH wires began for this today.  If your bank account information is incorrect please follow the following steps in order to get your disburement via mobile:

  Log out of your account
  Close the app
  Open the app
  Log in
  Go to Account > Profile & Settings > Payment Methods
  If you see an existing active payment method with the correct ending three digits of your bank account selected as default, no action is required, you are all set.
  If you do not see an existing active payment method with the correct ending three digits of your bank account, select Add another payment method and complete the process.
  
  
  If you would prefer to use your desktop follow the steps below:
  
  
  Login to your account
  In the top right corner, select Account > Profile and Settings (bottom right if on the app)
  Select Payment Methods
  Add a new payment method
  Save your changes
  
  
  Your investment cannot be withdrawn due to the 5-7 year investment term.  Please feel free to reach out with any questions we would be happy to assist!
  
  
  Thank you,

  Customer Answer

  Date: 12/30/2022

  There is no Dividend on file and AND I never received any notification about the payment. I already have account on file that I used to make payments to my Diversify account and n reason not to deposit the dividends.

  I see that you keep denying the the refunds in order to buy time. There is suspicion that there are no investments that will be sold or realized in the future. I suspect there is going to be another big surprise that the investment properties were never sold and don't exist. There are red flags which I never had with other investment companies who are more transparent.

   

  I will fight to get my refund and no need to email you anymore. The legal team can do a deep dive into your operations.

  I still want to cut my losses early.

  Business Response

  Date: 01/03/2023

  Please see the following agreement of your investment

   Here is what is stated in the Offering Memorandum Pg. 17:
  "Term of the Company
  We will begin deploying the capital we raise in this Offering once we have raised at least $100,000, which we refer to as the “Initial Closing Date.” We intend to operate the Company for a period of approximately five years from the Initial Closing Date, with the option of up to two additional one-year extensions at the discretion of the Manager.
  To wind down the Company, the Manager will seek to generate liquidity for Investors and realize any gains in the value of our investments by selling or refinancing our properties and returning capital to Investors on an orderly basis. Sales and refinancing will be subject to prevailing market conditions and there is no guarantee that we will be successful in executing any such liquidity transactions on terms favorable to the Company and Investors, or that we will be able to do so within the time frame we have anticipated."

   

  Due to the illiquid nature of our investment, refunds are not possible until the end of the investment term.

• Initial Complaint

  Date:12/20/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Diversyfund told me after a year of investment I could withdraw my initial investment without penalty. After a year of incurred interest around 9% ( not fixed). I haven't made 1% and I've asked for the monies to be withdrawn. I am always told" it's not time for property liquidation, we can't issue your money". That was not at all a part of the deal. There are thousands of people Diversyfund is doing this to.

  Business Response

  Date: 12/22/2022

  Hi ******,

   

  Apologies for your confusion for the investment you signed up for.  Nowhere do we state that the term is 1 year.  Our public investment offerings have 5-7 year terms.  Please see the following from the agreement of your investment stated in the Offering Memorandum Pg. 17:

  "Term of the Company
  We will begin deploying the capital we raise in this Offering once we have raised at least $100,000, which we refer to as the Initial Closing Date. We intend to operate the Company for a period of approximately five years from the Initial Closing Date, with the option of up to two additional one-year extensions at the discretion of the Manager.
  To wind down the Company, the Manager will seek to generate liquidity for Investors and realize any gains in the value of our investments by selling or refinancing our properties and returning capital to Investors on an orderly basis. Sales and refinancing will be subject to prevailing market conditions and there is no guarantee that we will be successful in executing any such liquidity transactions on terms favorable to the Company and Investors, or that we will be able to do so within the time frame we have anticipated."

  
  That said, our intent is to liquidate when we believe we can get the best return for our investors, with or without the extension.  Please feel free to reach out to customer service with additional questions.

   

  Thank you,

  ***********

   

   

• Initial Complaint

  Date:12/01/2022

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Three words...DO NOT INVEST! There is absolutely no transparency with this company. All communication is "handled" via email and all email responses are open ended from them just to continue the conversation versus finalizing a resolution. I invested $1k initially and was able to follow the progress of the dividends, so I invested another $500. Then there were no dividend updates. I was told the Reit I wanted to invest the additional $500 was closed and the $500 would be refunded. Guess what 6 months later, still no $500 reimbursement. Just stay away, I can't wait to close this account, you're better off parking your funds in a Series I Savings Bond at this point, at least they're at around 6-7% return right now. DiversyF***

  Business Response

  Date: 12/02/2022

  Hi ******,

  Apologies for the trouble you have had.  I handled your issues myself through email and your $500 investment is in the process of being refunded manually by our third party.

   

  Please feel free to reach out with any additional questions.

   

  Thank you,

  ***********

• Initial Complaint

  Date:11/29/2022

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I entered into an investment with Diversyfund in 2017. I noticed on my promissory note that I would be getting paid interest as I waited for the investment to mature. I opened up my account recently to find my account at the same level ( no interest) and I have been trying to enter into an agreement to " buy into" one of their projects so that I can realize gains on my investment. Not only have I not been able to invest (All of their projects are filled and I mean all) but I have attempted to contact them 4 times with no contact. I'm hoping that this complaint will at least be enough to get a response. ***********************

  Business Response

  Date: 12/12/2022

  Hi there,

   

  Apologies for the issues you have had with your  Series A investment.  Apologies the customer service team has not been able to give you an adequte answer.  Please email ******************************* for questions regarding your Series  A  investment. 

   

  We look forward to exceeding your expectation in the future and h ope you have a good day.

   

  Thank you,

  ***********

• Initial Complaint

  Date:11/28/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I opened my account in August 17, 2020, with my initial $500 investment I have received $28.76 in dividends that went straight into my account. Earlier this year on August 24, 2022, I was notified that the property that I had invested in was sold early. I said, great now send my money I want to close this account. Mind you, my last dividend was credited to my account on 10/15/21 I was given all types of reasons that they could not return my money. All the while I have a balance of $528.76 sitting there uninvested since around July of this year. This is unacceptable. Most companies will allow you to receive your funds less their fees. I do not wish to reinvest all I want is my $500 returned, immediately. Now more so than ever, especially since I have read all of the complaints.

  Business Response

  Date: 12/02/2022

  Hi there,

   

  Apologies for the confusion, it seems you are unfamiliar with how the investment works.  Please see the following:

  Why haven't I received dividends in a long time?

  
  DiversyFund Growth REIT is intended to be a growth asset and not as much an income asset. In the beginning Dividends were paid out of income as the company was identifying and purchasing properties. Once the investment was fully funded, the company stopped the dividends and started putting all the investment money and income into purchasing good properties and making improvements to the properties to be able to raise rents and eventually sell the property for a higher profit (Growth Oriented).

  
  How long before I start seeing returns on my investment?

  
  Returns will primarily come as properties in the Fund are sold for a profit. Over the last few months, 3 properties have been sold and DiversyFund is planning on a Distribution toward the end of the year. REIT's are required to distribute 90% of profits annually to investors, but keep in mind this is a net number. Some of the funds were reinvested into new properties with good potential as well.

  
  How long before I can get my money out?

  
  The investment term was 5-7 years for REIT I. We're toward the end of the 5 year period, but the company has chosen to take the extended 2 years to continue the property improvements and/or give time to raise rents after improvements to improve property sale value. As properties are sold, we'll see more disbursements until all properties are sold and funds+ profits are received.

   

• Initial Complaint

  Date:11/28/2022

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Logging into my account only option is with email. The email I used when setting up my account is no longer active. I cannot receive any password reset because they use only my original email I used when opening the account which is no longer valid. There is no other option available, I contact the company through their support portal and the message I received was to use the original e-mail. Apparently, the sender did not read my original message. I resent the following message in response:I received the following message from your support person who apparently did not read my prior e-mail:***** (DiversyFund)Nov 20, 2022, 9:28 AM PST Hello there, We rather found this email associated with your account ****************** Please log in using it. Kind Regards Alaba The e-mail I used in setting up my account (bhayden@**********) is no longer active as I ended my employment with The ************************************ {AUC} in February, 2022. Therefore I cannot receive any messages with this email. I supplied my current email address ************************* I receive email messages on at that address.You should have an alternative option for log ins besides only email as email address change.Please provide me a method to log into my account if you cannot use my CURRENT email address. My former email is inactive.Thank you.***************************** I tried calling rthe phone nymber listed - the same one you have posted with trhe comnay name and I get the message that the phone number is no longer active. I am beginning to wonder of this company is a scam as you cannot speak to a live representative and the support individual who responded to me did not take the time to address the issue I raised.Thak you.*********************

  Business Response

  Date: 12/02/2022

  Hi ****,

   

  Apologies for the issues you have had accessing your account.  Please email me directly at ************************************** and I will assist you personally to get into your account.

   

  Thank you,

  ***********