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Updated almost 2 years ago on . Most recent reply

User Stats

12
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8
Votes
Daniel Shafer
  • San Francisco, CA
8
Votes |
12
Posts

What happened to Elite Invest?

Daniel Shafer
  • San Francisco, CA
Posted

Hi everyone! 

I'v been lurking on here for a while and decided it's time to start trying to contribute. I'm a software engineer in the Bay Area and am considering turnkey investing since I don't have the time or expertise (or even confidence tbh) to do it on my own. To that end I've been talking with some of the main TK providers out there, reading some really helpful reviews on here as well as turnkey-reviews.com, etc. 

I'm curious to hear if anyone has had recent experience with Elite Invest in Chicago. They have stacks and stacks of 5 star reviews on turnkey-reviews.com that are more than two years old and then most of the recent ones are really bad. Granted we're talking about a small sample size here but the tone between older versus recent reviews makes it seem like their whole situation has gone downhill dramatically. Seeing a lot of vacancy, shoddy repairs, etc. Has anyone dealt with them recently and could weigh in?

I'm generally open to hearing from people on more than just this one company, different opportunities, etc, Though I have browsed the posts on turnkey and other topics a decent bit so I'm not asking anyone to rehash stuff that's been said a lot already. Thanks!

Most Popular Reply

User Stats

31
Posts
42
Votes
Ivan Lai
  • Investor
  • Hacienda Heights, CA
42
Votes |
31
Posts
Ivan Lai
  • Investor
  • Hacienda Heights, CA
Replied

I liked Alex's (founder/owner of Elite Invest) drive and vision for his company, so I invested with him...  biggest investment mistake I've ever made.  They've got so many lawsuits they got to deal with, it's no wonder he doesn't have time to run his company anymore.  He took a large sum of my money to invest in buying and rehabbing the money.  Turned out he couldn't get the permit to rehab, so instead, he lied to me about getting the permit, then squandered my money on things unrelated to the property it was meant for.  Blatant fraud.  I also got sued by the city of Chicago for Elite's code violations, was listed as co-defendant just because I invested with Elite.  Me, being sued by the City of Chicago, for giving money to Elite!!!  I had to hire my own lawyer and pay them out of pocket o defend myself against the city of Chicago.  No joke, I have the paperwork to prove it.  I sued Elite for stealing my money and lying about the investment and am still in a lawsuit with them for almost a year now.  It appears they're under so many lawsuits and can't get permits to rehab any properties, I wouldn't be surprised if they file for bankruptcy soon.  Don't be fooled by his charm and eloquent sales pitch.  Think twice before you go in business with them.  

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