All Forum Posts by: Account Closed

Hello Everyone,

I signed a contract to flip a house with a person I met that I invested about $30K with.

They told me that the person living there that was paying rent accepted a cash for keys agreement, so I then proceeded to meet, sign a contract, and then deposited the money to them.

Then after I gave the money, they tell me about a month later that it will take a long time to evict the tenant.

So they told me, I could get my money back quicker if I go to another investment with them. A whole year went by, with nothing but excuses.

This in now the 2 year anniversary of signing the original contract. They made an attempt to pay me $500 for 3 months as interest, but haven't paid me for awhile now. Everytime I call/text they don't answer, or when they do answer there is some sort of excuse they have.

My question is what should I do exactly? Anyone have experience with something similar?

I worry about this all the time, I just want my original investment back.

Thank you very much for your time in helping me figure this out.

Hello Everyone,

I signed a contract to flip a house with a person I met that I invested about $30K with.

They told me that the person living there that was paying rent accepted a cash for keys agreement, so I then proceeded to meet, sign a contract, and then deposited the money to them.

Then after I gave the money, they tell me about a month later that it will take a long time to evict the tenant.

So they told me, I could get my money back quicker if I go to another investment with them. A whole year went by, with nothing but excuses.

This in now the 2 year anniversary of signing the original contract. They made an attempt to pay me $500 for 3 months as interest, but haven't paid me for awhile now. Everytime I call/text they don't answer, or when they do answer there is some sort of excuse they have.

My question is what should I do exactly? Anyone have experience with something similar?

I worry about this all the time, I just want my original investment back.

Thank you very much for your time in helping me figure this out.

Thank you so much!

Hello Everyone,

I am thinking about trying to wholesale a property.

If I finally find a property, my question is what are the quickest/best ways to find another investor to purchase the property from me?

Thank you, taking your time is greatly appreciated.

Hello George,

Thank you for the valuable information.

How will I know if a process server has served them their papers?

Is there a certain document that I can request for proof that the process server did their job?

Thanks.

Hello Wayne, 

Is it too late to protect myself? In other words, can I somehow get a mortgage document still while in a contract? 

Thanks in advance.

Hello Ken,

I will get that copy from them.

Can you clarify about the lien? All I know is that the contract says that after September 30th, it mentions I can put a lien on the property. Does this sound right?

Thank you in advance.

Yes, this is for nonpayment of rent. Court stamped documents makes a lot of sense.

How long should I wait until the 30 day notice expires for them to file papers with the court?

Also, how long does it take for this process to start at this point?

Thank you.

I paid 100% of the estimated funds they gave in the contract.

Hello Everyone,

I am entered into a contract by providing rehab costs with a house flipper in Illinois (this is my first time investing in real estate).

I am trying to figure out if they are or aren't telling me the truth.

They told me that they started the eviction process by sending a 30 day notice. 

My question is what exact documents should I have them email me to make sure they are telling me the truth?

Thank you, any advice will greatly help (very stressful).