All Forum Posts by: Account Closed

This sounds pretty shady.

@Gus Muller Congratulations!  I started rehab in February on a rental in SE Wyoming that I have owned since 2012. My longtime tenants bought their own house and gave notice in January. With the equity I've gained over the years, I decided to sell. Put the house on the market March 15 and was under contract with a full-price offer within 10 hours. We closed April 13. Of course, I had a Plan B like yours, which would have been to re-rent as that property has always rented quickly. But not seeing much slow down in sales in the SE Wyoming market yet.

Yes, I am glad the AZ numbers are not going up too fast also and I was kind of surprised due to the population in AZ. I live near Scottsdale. I am sure so many people are going crazy with the kids at home and the kids are probably going crazy too. I read a statistic that a lot more people are boozing it up working from home!

I am sorry to hear this. My dad lived in Sequim for several years and I had the good fortune to visit the lovely town of Port Townsend.

@Brian Holt Thank you for your kind words.

@Sara Als. I am sorry to hear that.  I will PM you.

@Jeff Stansberry I am sorry to hear you are going through a similar experience as I am. I will PM you the insurance company and contact person I went through. It's a lender forced-placed insurance policy that covers a vacant house and covers me for liability if the borrower allows their insurance on the house to lapse. @Devon Cobbs I'd be interested to hear your experience as well, you can PM me if you would rather.

@Gary Siver Thank you for your response Gary, I'm happy to hear you stayed away from him!

@Reba Vera Thank you Reba, yes I was looking into the central Florida market and part of my research is how I found Dustin. I am sorry to hear you know of someone else who is going through a similar situation.

He is very active on the Marketplace asking for private money for flips (as recently as 2 weeks ago) and has been active for several years. After a year of communicating with him and doing research on him (but obviously not enough), I finally went in on a deal with him in Daytona Beach, FL. In 7 months, he has not touched the property and has lied to me about several things, i.e., having started rehab on it (nothing has been done), then saying there were squatters in it who caused damage not covered by insurance (didn't happen), that his contractor had received rehab money and materials were stolen that insurance didn't cover but there was still "a good chunk of the money left" (contractor verified he never received any rehab money from Dustin), and the last straw being that there was insurance on the property. None of this was true and I recently was able to confirm it all through the person who has the keys/access to the property (Dustin lives in CA, the property is located in FL). Dustin has also stolen $20k in rehab money. He continues to string me along with promises but finding out there was no insurance on the property was the nail in the coffin for me and I don't believe anything he says anymore.

PLEASE, I would appreciate not being "flamed" for this post, I am NOT looking for advice (I have an attorney for that), I'm just looking to see if there are other investors I can communicate with who may have had a similar experience with Dustin and also posting this as my cautionary tale to anyone else who may be thinking of working with him as he appears to still be very active on the Marketplace. I realize I made a lot of mistakes with this deal and that is behind me. I have put a vacant house/liability insurance policy on the property and I'm moving forward with getting the property into my name so I can rehab it and/or sell it as-is and move on.