I worked as an acquisitions manager for a big real estate wholesaler. We did 10-20 deals every single month, like clockwork. Profits were $10k-$20k per deal. I was responsible for at least half of those deals.
I had to work for minimal wage ($7.25/hr) for 4 months when I first started work so that I could feed my pipeline. While I waited for a nice filled pipeline to pay off I just continued my work. I later learned that, upon my leaving the company, I lose all deals still in the pipeline that are already in escrow, but are just waiting for escrow to close.
Is this a common practice? Is it fair in the eyes of other wholesalers? What are your thoughts?
Unfortunately, I took this employer to the Labor Board, a state agency, and they ruled in favor of the employer because the employer lied and said that I was given an employee handbook when I started where it stated their practice of ripping off employees, eerrr, I mean of not paying deals when someone leaves the company.
I just got screwed! To the tune of about $20,000! The company owner, Larry H. Goins, is even an author on Amazon and has taught paid seminars across the country, too! He’s even fighting my unemployment now. This guy is a horrible example of a human being. Horrible! Cheater! I used to like & trust the guy. Now I know the real truth. He even fraudulently stated “need” to obtain a forgivable Paycheck Protection Program loan through the SBA! Scum! I reported him to the whistleblower line at the SBA. Now I have no job, no cash, no hope, no faith in human beings anymore! Nothing!