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Updated almost 8 years ago,
- Investor
- Las Vegas. Jacksonville, Bay Area Ca, Nv, Ca, Fl
- 220
- Votes |
- 511
- Posts
UNSCRUPULOUS INVESTMENT COMPANY ALERT!!!
So, I find a property out in Jacksonville, Florida that I would like to buy and flip. This property is in very bad shape and would need a contractor or a very skilled rehabber to get this thing repaired and resold. The entire floor in the kitchen is rotted away do to the roof being in such bad shape it leaked causing the floor joist and sub-flooring below to totally disappear, this is also common in 2 other areas of the house. I contact the seller and after a few modifications to the purchase agreement we came to a satisfactory structured contract. He signed the contract and emailed over to me around 8am his time ( Jax ) which is only 5am my time ( California ). While checking my email that morning another email came in from this seller stating that he had a better offer and would not honor our agreement. I responded by telling him that this was a very un-professional practice which he replied " wouldn't you do the same".... Well the story get's better read on! After about 2 weeks I noticed that the property was still active so I emailed him for a explanation. His answer was that a car ran into the building and the buyer is on board but can't close until the insurance company investigates or something is finished, some b.s... Karma.. Another 2 or 3 days later he emails me asking me to reconsider purchasing the property. I said I would do it if he is honorable this time and don't sell the property out from under me again. He stated that " you have my word" ...lol. Well we go into contract and both sign the agreement. I had a 10 day due diligence so I packed up the truck and started out to Florida from Ca, a 3 day trip. I needed a break so a road trip was a great getaway. The whole time I was in contact with this seller and he understood I was driving through 8 states to walk the property. I get there and noticed that the pictures did not show that the roof was a total lost including most of the roof framing. So I sent him a email requesting a $1000 discount to help pay for the materials I would need to reframe the roof. He replied " I am out of the country and the lawyer will change the pricing on the contract and reach out to me" , O.K great, I informed the Title Company about the situation. A few days went by with no contact by the lawyer after I inquire with seller it was stated that the lawyer was running behind and he would be contacting me soon. Now I know this was a stall tactic... I get back to Ca, did some investigating and found out that the property was sold via Quit Claim to another buyer and he did this while I was in town doing my walk through. What a sleazy person, knowing I was travelling all that way to close the deal. So much for his "word". What a idiot to open his self up the legal recourse. If you ever come across Marius Investments, LLC stay away. After years in this business, by far this is the most unscrupululous investment company I have come across.
My trip wan't wasted , I was able to check on multiple investment properties across the lower states on my way there and back.