Flip - Money Stolen

[Arzu Alimjan]

Hello all, I am posting to see if I can find an attorney and if anyone can provide feedback in regards to a flip. I was working on a flip where the flipper closed on a property in PA and I helped in raising money for the rehab. However, the flipper has not been able to finish the project and has stopped responding to my emails, phone calls, and text messages to find out the status and next steps with the project. About $80k was raised and I am under the assumption that he may have used the money for himself. I would like to take legal action at this point since it has been 8 months with no response from the flipper. I know he has been receiving my messages but he chooses not to respond. If there are any attorneys out there and anyone that can provide feedback and assistance on what next steps I should be taking here I would greatly appreciate it. I am also trying to see if I can find the right attorney to get the job done. I value all responses. Thank you. 

[Bob Floss II]

@Arzu Alimjan Lots of missing information here so it's hard to point you in the right direction. It sounds like perhaps the investment was made in an LLC? Were the investors made a part of the LLC? You could use the operating agreement to take control of the LLC and therefore the property. If not, and it sounds like you don't have a promissory note and mortgage, you'll have an uphill battle. You need to meet with an attorney in the jurisdiction of the house and get started right away.