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Learning, Sharing, and Teaching => Investor Alley => Topic started by: RapmasterD on February 04, 2015, 09:06:10 PM

Title: How F'd am I? Inland American Real Estate Investment Trust investment
Post by: RapmasterD on February 04, 2015, 09:06:10 PM

I have an inherited IRA as of last Fall. About 25% of it is invested in Inland American, which is a non-trading REIT. It is hard to get information on this firm. I certainly didn't make the original investment selection.And it appears to be nearly impossible to sell out of Inland American.

I am about to begin the process of moving this inherited IRA from an independent investment adviser...over to Vanguard. Of course Vanguard won't take the Inland security over. And I'm getting scanty information from the current adviser. I had asked to sell out months ago, to no avail. And they're not willing to be very helpful since they know I'm leaving them.

Does anyone here have experience with non trading REITs, and more specifically, liquidating them? Thank you.

Title: Re: How F'd am I? Inland American Real Estate Investment Trust investment
Post by: SaintM on February 05, 2015, 05:12:22 AM

Rap, there are worse things than inheriting a REIT that pays $.0416666 per share every month, a portion of which is nontaxable return of capital.  You paid nothing, and now get an extra monthly paycheck.

The company just completed a taxable spin-off of its hotel business. The tax you will owe would be my bigger complaint.

Title: Re: How F'd am I? Inland American Real Estate Investment Trust investment
Post by: PEIslander on February 05, 2015, 07:06:57 AM

A quick 'Yahoo Finance' search turned up a law firm that is seeking to contact investors of Inland America. Calling might be a source of info...

Here's the link: http://www.salaswang.com/topics/sec-actions/inland-american-sec-probe-salas-wang-investigation/ (http://www.salaswang.com/topics/sec-actions/inland-american-sec-probe-salas-wang-investigation/)

Title: Re: How F'd am I? Inland American Real Estate Investment Trust investment
Post by: PEIslander on February 05, 2015, 07:32:54 AM

And here's a shareholders' rights website intended to help investors: http://www.inlandinvestoralert.org/ (http://www.inlandinvestoralert.org/)

Title: Re: How F'd am I? Inland American Real Estate Investment Trust investment
Post by: RapmasterD on February 05, 2015, 12:14:30 PM

Thanks all. I've done more research and am all set for now.

SaintMichael - I agree with you. Thanks. It's much better than being willed a motor boat, and I shouldn't look a gift horse in the eye. It's just not my style.