Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago on . Most recent reply

Account Closed
  • Flipper/Rehabber
  • Denver, CO
21
Votes |
56
Posts

GC moving funds to pay for other projects

Account Closed
  • Flipper/Rehabber
  • Denver, CO
Posted

I am finishing up a flip and am being contacted by my GC that he needs final payment funds to complete the project.. I wired him funds to buy appliances and now hes saying he doesn't have the money to buy the appliances.

Backstory: he is 7 weeks behind not only on my project but a few others it sounds like. I have a strong feeling he is using the funds that I wire him to complete various things to pay for other projects that he is falling behind on as well to appease his other investors.

I'm trying to figure out if there are legal ramifications for this type of thing and if so how does one go about pursuing it? I'm basically at the end of the rope with him and its time for him to pay the piper

Loading replies...