Mantria is Middle TN (Murfreesboro, McMinnville: sales, real estate, foreclosure)

[JC918]

Has anyone ever heard of the Mantria Corp.?

I did some research and it looks like they bought a ton of land in middle tennessee undervalued, set up communities, and sold it for a hefty profit.

The company is located in Philly, where I live, so that's why I ask.

Has anyone had any encounters with these communities, either positive or negative? Just wondering. Thanks!

[alleycat]

I hadn't, but I looked them up. Looks like they're one of many companies developing property near the lakes and on the Cumberland Plateau. They seem to be overstating their influence in Tennessee however; in one of their own postings they state that they're a $30-million company total, not exactly the next Donald Trump yet.

[JC918]

Alleycat, thanks for your response.

I was a little surprised because their CEO is a 25 year old kid. Impressive for a young man his age, but I question how he got Tennesseans to give up their land for under market price so he could develop it and make a fortune.

I guess I was just wondering what happened in that area for him to be able to profit off their land. Seems a little unfair, especially when a kid right out of college is doing it.

[cqbdriver]

I own some land near two of Mantria's developments – Indian Trail & Iron Bridge. I have been watching it for a few years. They put in some gravel roads, put up an entrance, & halfway built a demo house. They stopped work on the house about 2 years. Not much as happened since then except they finally removed the saw horses sitting in front & I heard the copper wiring was stolen out of the house.

I was told that Wragg is some way related by marriage to a Doctor who bought a lot of the land in this area.

I have wonder if it is real or an investment scam. Still not sure. My Father did run into an electric co. guy who out there a few months ago. He was surveying the road to run power out to Indian Trail. He said as soon as Mantria paid them, they would run the lines out there.

[2mares]

I question how he got Tennesseans to give up their land for under market price so he could develop it and make a fortune.

I guess I was just wondering what happened in that area for him to be able to profit off their land.

it goes something like this, local people that have owed large tracts of land for years have generally been poor hard working people. Usually farmers who utilize the "good" part of the land and leave alone the beautiful mountainous areas the would cost a whole bunch of money to put in roads, electricity, and water. Over the years grandpa/ma pass away, split the land between kids, those grow older split the land again. Now these heirs are ususally not tied to the land, maybe have moved away for job opportunities and are looking to make a chunck of money.
The lands have not been sold under market vaule, all the developers and folks buying up land at rediculous prices has driven the market vaule up and too many of these people cant resist that big hefty price for land they have no intrest in or cant afford to develop themselves. Ive seen the land in the same general area go from 700 per acre in the 80s to nearly 35,000 per acre.

[seenitallb4]

hahaha

Sorry, but I laugh at the Wannabe Trumps!

A little hiccup and all that big money and dreams are gone.
Who pays? The suckers that bought in a developement where there aren't even roads or power.

McMinnville an emerging market?

Somebody SLAP me!

Research...research...research!
30 miles from 'nowhere'.

[rb1231]

I am actually an owner of four homesites in the Mantria Communities in Tennessee. This company is far from a scam and the CEO might be one of the most innovative and smartest persons I have ever been lucky enough to meet. He has constructed an answer to the real estate crisis and loan crisis which has kept this company afloat. If I even had the slightest hunch that this investment was a scam I would never have invested over $100,000 in these homesites. I plan to resell these homesites in the near future and make quite a substantial profit since my four homesite have already appreciated an average of $16k. I might even take my profit and invest it into the first and only green mortgage bank which is Mantria Financial where they are marketing a 17% ROI. This company is definitely going places with 11 division and 30 total operating companies. I would not be surprised to see Mantria as a household name in the future.

[nvstorxpert]

Originally Posted by seenitallb4

hahaha

McMinnville an emerging market?

Somebody SLAP me!

Research...research...research!
30 miles from 'nowhere'.

McMinnville is actually an emerging market. I guess you have not done the research you are talking about seenitallb4. I live in McMinnville and big chain stores like Lowes, Home Depot, and Applebees are beginning to be built in the area so it must be an emerging market or else these major corporations would be just flat out stupid to build in a part of the country that they do not expect to be an emerging market. Mantria is not the only company that is developing communities in the middle Tennessee area either. Long Branch Lakes and numerous other companies besides Mantria are developing communities in the middle Tennessee area. I expect the middle Tennessee area to really expand and become more populated in the coming years because of the master planned communities that are being built by the likes of Mantria and others and I am excited for that to happen.

[JMT]

Originally Posted by nvstorxpert

McMinnville is actually an emerging market. I guess you have not done the research you are talking about seenitallb4. I live in McMinnville and big chain stores like Lowes, Home Depot, and Applebees are beginning to be built in the area so it must be an emerging market or else these major corporations would be just flat out stupid to build in a part of the country that they do not expect to be an emerging market. Mantria is not the only company that is developing communities in the middle Tennessee area either. Long Branch Lakes and numerous other companies besides Mantria are developing communities in the middle Tennessee area. I expect the middle Tennessee area to really expand and become more populated in the coming years because of the master planned communities that are being built by the likes of Mantria and others and I am excited for that to happen.

Sorry, I'm laughing and rolling my eyes as I read this. There is no Home Depot in McMinnville nor is it likely that there ever will be. Retail sales in Warren County are down something like 12% over a year ago, home sales are anemic, new construction is down, and unemployment is high--6.7%. Maybe you're referring to the booming economy an hour west of McMinnville in Murfreesboro. Otherwise you're way off base. Or you're an employee or investor of Mantria.

[yarddawg]

Originally Posted by JMT

Sorry, I'm laughing and rolling my eyes as I read this. There is no Home Depot in McMinnville nor is it likely that there ever will be. Retail sales in Warren County are down something like 12% over a year ago, home sales are anemic, new construction is down, and unemployment is high--6.7%. Maybe you're referring to the booming economy an hour west of McMinnville in Murfreesboro. Otherwise you're way off base. Or you're an employee or investor of Mantria.

Yeah, I can't see this as being anything but hype. I've lived most of my 40+ years about 25 miles from McMinnville. When I was a kid before the state improved the highway system it was a regional shopping destination. Now just about everyone who doesn't live there has better options. A lot of the developers that moved into this part of the state during the height of the real estate boom are having problems now. On my part of the plateau "master planned development" subdivision lots have been sold on the courthouse steps in foreclosure and the $500,000+ McMansions that have been rotting on the market have started burning to the ground.

Tough to sell when you have a house listed at nearly 1000% higher than the average sale price in the area.