Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. 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.
Tax, SDIRAs & Cost Segregation
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 almost 4 years ago,

Account Closed
  • Chicago, IL
1
Votes |
24
Posts

Owed Money, not being paid back. Need Help, what to do?

Account Closed
  • Chicago, IL
Posted

Hello Everyone,

I signed a contract to flip a house with a person I met that I invested about $30K with.

They told me that the person living there that was paying rent accepted a cash for keys agreement, so I then proceeded to meet, sign a contract, and then deposited the money to them.

Then after I gave the money, they tell me about a month later that it will take a long time to evict the tenant.

So they told me, I could get my money back quicker if I go to another investment with them. A whole year went by, with nothing but excuses.

This in now the 2 year anniversary of signing the original contract. They made an attempt to pay me $500 for 3 months as interest, but haven't paid me for awhile now. Everytime I call/text they don't answer, or when they do answer there is some sort of excuse they have.

My question is what should I do exactly? Anyone have experience with something similar?

I worry about this all the time, I just want my original investment back.

Thank you very much for your time in helping me figure this out.

Loading replies...