I Invested in flip out of state! Help!!

[Lisa Clouse]

I invested in a flip over 9mos ago. I was told that he sold it but at a loss. I have not gotten my money back, any suggestion or opinions would be greatful.

[Mya Toohey]

@Lisa Clouse

Hi Lisa,

Unfortunately, it may have been a scam. I am in the Tampa, Florida area and I hear of this happening all the time. BUT, do your due diligence. Look up the County Property Appraiser website, check out the tax records and find out the REAL owner. See when and if it has been sold and for how much. You may not get money back but you may be able help it from happening to someone else. If he says it was sold at a loss, that means that the expenses were more than the amount of money they made for it. Weather its true or not. Read the small print in the document that you signed. It probably said something about cost vrs. sales price and so on. If you put a little pressure on them, request itemized cost sheets and copy of the HUD. They should be happy to supply these if there isn't anything to hide. Threaten to have YOUR lawyer, weather you actually have one or not, call them to request if they don't comply at first. Threaten to report the company to the BBB and to post about your experience to all of the RE groups you are part of. Again, they should supply this if they aren't doing anything wrong. Hopefully, this helps your case. I know this sounds extreme but I don't like people being taken advantage of. Feel free to reach out if you need help. Best of luck.