[Fredslist] Need Advice re: David Lerner Associates

Wed Feb 24 10:10:52 EST 2010

This post may be anonymous and you have to take it with a grain of salt.
That being said, if I read the first page of the prospectus, there are
several red flags...my best advice to anyone looking at an investment
that is highly leveraged is "buyer beware".  REITS serve a purpose and
can be a great investment, but they are not for everyone.  These REITs
are not appropriate for everyone, and should  be marketed appropriately.

FYI...The last paragraph in the prospectus reads:

"We have no restriction changes in our investment and financing
policies.  Our board of directors may, in its sole discretion, determine
the amount of our aggregate debt.  Therefore, our properties may be
highly leveraged and subject to greater risk of default.  In addition,
since Apple Suites Realty's commission is based on gross purchase price,
it may have an incentive to encourage us to purchase highly leveraged
propertiesin order to maximize commissions."

Just some food for thought...
karen 
 -----Original Message-----
From: Glenn Dekhayser [mailto:gdekhayser at voyantinc.com] 
Sent: Wednesday, February 24, 2010 9:39 AM
To: Hubbard, Karen1 [MSB-PVTC]; Deidre Siegel; tfishkind at carcogroup.com
Cc: fredslist at gothamnetworking.com
Subject: RE: [Fredslist] Need Advice re: David Lerner Associates

	Regarding this harryhat.wordpress.com - The post is anonymous-
likely created by a competitor, on a hastily-created wordpress blog that
seems to exist solely for this post about Lerner (it's the only post,
from March 2008- none before, none after).  Certainly have to take that
post with a grain of salt. That's not to say that what the person is
writing isn't true, it very well could be (all REITs have fees),
everyone should read the prospectus....and historically the other Apple
REITs have done well, etc. but no guarantees.  Apple and Lerner aren't
non-profits after all, right?

	It's been as promised so far.  Keep in mind you're not allowed
to take out any funds for the first 3 years without penalty.

	From: Hubbard, Karen1 [mailto:karen1.hubbard at smithbarney.com] 
	Sent: Wednesday, February 24, 2010 9:26 AM
	To: Glenn Dekhayser; Deidre Siegel; tfishkind at carcogroup.com
	Cc: fredslist at gothamnetworking.com
	Subject: RE: [Fredslist] Need Advice re: David Lerner Associates

	Hi all,

	Please take a look at this link:
http://harryhat.wordpress.com/2008/03/27/david-lerner-associates-tricks-
investors/

	Before you invest in anything like this, make sure that you are
informed.  The prospectus is a MUST!!!

	I am happy to speak with any one interested in non-proprietary,
non-affiliated investment adice.  I can be reached at 

	516-227-2977.

	Regards,

	Karen Hubbard

	Second Vice President

	Morgan Stanley Smith Barney

		-----Original Message-----
		From: fredslist-bounces at gothamnetworking.com
[mailto:fredslist-bounces at gothamnetworking.com] On Behalf Of Glenn
Dekhayser
		Sent: Tuesday, February 23, 2010 10:06 PM
		To: Deidre Siegel; tfishkind at carcogroup.com
		Cc: fredslist at gothamnetworking.com
		Subject: RE: [Fredslist] Need Advice re: David Lerner
Associates

		Todd-

		I too invested in this.  It's been the real deal so far,
all news on the Apple REIT series has been good.

		Glenn Dekhayser

		Gotham Princeton.

		From: fredslist-bounces at gothamnetworking.com
[mailto:fredslist-bounces at gothamnetworking.com] On Behalf Of Deidre
Siegel
		Sent: Tuesday, February 23, 2010 7:05 PM
		To: tfishkind at carcogroup.com
		Cc: fredslist at gothamnetworking.com
		Subject: Re: [Fredslist] Need Advice re: David Lerner
Associates

		Hi Todd:
		GO FOR IT!! I am very involved with them and they know
what they are doing!!
		Deidre
		Deidre Siegel
		PEAR Core Solutions, Inc.
		100 Crossways Park West
		Suite 115
		Woodbury, New York 11797
		Tel: 516-496-PEAR(7327)
		Fax: 516-496-7328
		www.pearcoresolutions.com
		Cell: 516-301-8173

		<-----Original Message-----> 
		>From: Todd Fishkind [tfishkind at carcogroup.com]
		>Sent: 2/23/2010 3:24:56 PM
		>To: fredslist at gothamnetworking.com
		>Subject: Re: [Fredslist] Need Advice re: David Lerner
Associates
		>
		>
		>
		>
		>
		>
		>
		>
		>
		>2/23/2010
		> 
		>Dear Gotham Members,
		> 
		>I hoping you can offer me some advice about your
experience investing with David Lerner Associates.
		> 
		>I've been presented with an opportunity to invest in
their Apple Nine fund which is a REIT, and the person I 
		>met with set the expectation for an 8% return.
		> 
		>Any insight you can offer - - either good or bad will
be greatly appreciated.
		> 
		>Best Regards,
		>...Todd
		> 
		>Todd Fishkind
		>Regional Sales Manager - 
		>Risk Mitigation & Onboarding Solutions
		>CARCO Group, Inc.
		>Phone: (631) 862-9300 ext 433
		>Fax: (631) 584-0095
		>tfishkind at carcogroup.com 
		>www.CARCOGroup.com 

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It is important that you do not use e-mail to request, authorize
or effect the purchase or sale of any security or commodity, to
send fund transfer instructions, or to effect any other transactions.
Any such request, orders, or instructions that you send will not be
accepted and will not be processed by Morgan Stanley Smith Barney.

Recently, the Global Wealth Management Group of Morgan Stanley & Co. Incorporated
and the Smith Barney division of Citigroup Global Markets
Inc. combined into Morgan Stanley Smith Barney LLC, a new investment
advisor and broker/dealer registered with the Securities and Exchange
Commission.  The URL on this e-mail is not indicative of the sender's
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