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Updated almost 7 years ago,

User Stats

79
Posts
14
Votes
Carlann Mckenna
  • Hyattsville, MD
14
Votes |
79
Posts

Partnership possibly gone bad

Carlann Mckenna
  • Hyattsville, MD
Posted

Scenario: Purchase a fix/flip with a partner 1yr ago.  My soon to be former partner took the lead on repairs and dealing with finances. She received money from the bank(although we were partners she did any and everything financial and repairs, hiring and firing cheap fake contractors). Anyways  all of the funds to repair the property has been used, however the property isnt completed 1yr later.  This individual still wants me to go half on carrying cost, and put  monies towards repairing the property( there is still a good amount of work to be done before sales).  To be truth I had 2 people look at the place and they all indicated this was an 8 week project and it appears that the funds were misappropriated.  What should i do as this person is not willing to show me all of the financial documents, unwilling to compromise and I am unwilling to fund this deal any more.

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