All Forum Posts by: Mario Rosales

I agree Jim, I shouldn't have put my money into this deal as an equity partner.  That assured that they could claim losses and use that as an excuse to shying away from paying my money back.  I should've been a lien on this deal. 

@Steven Hamilton II.  Thanks for the feedback.  No guarantee of recovering 100% of contribution on op agreement.  I'll touch base with @Jerry W.  Thanks again.

@Taylor L. I don't have any relationship with the other investors.  In your experience, do you think I could have a lawyer review this case, if this wasn't done correctly from a securities standpoint? 

Hello BP community, I invested SDIRA funds as an equity partner to fund a high value house flip in the LA area.  The contract was done via an Op Agreement / Promissory Note.  However, the flipper miscalculated rehab costs, and they claimed that things got complicated due to Covid-19 as they couldn't close buyers' escrows for a while.  After the property was finally sold this month, debt partners (hard money lender, liens) got paid back their money. We, equity partners, only got paid approx 20% of initial contribution.  My question is whether I have any legal recourse to go after this company, or do I just suck it up and take it as a hard earned lesson?  

@Frankie Woods I appreciate your comments.

@Tim Walsh thank you for your feedback.

@Bob Hines, thank you for your input.

@Kyle Eckert. Thank you for your feedback!

Hello fellow BPers, I'm interested in buying a four-plex in the southwest of Saint Louis, MO in a neighborhood called Benton Park West for long term investment. I'd like to get your feedback on whether this is a good neighborhood to invest in. Property is being rehabbed and it yields great cashflow with tenants in place already. I'm mainly looking for neighborhood and market outlook feedback from investors with experience in this market. Thank you.

 Thank you for the referral!