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Updated almost 7 years ago on . Most recent reply

Account Closed
  • Flipper/Rehabber
  • Denver, CO
21
Votes |
56
Posts

GC moving funds to pay for other projects

Account Closed
  • Flipper/Rehabber
  • Denver, CO
Posted

I am finishing up a flip and am being contacted by my GC that he needs final payment funds to complete the project.. I wired him funds to buy appliances and now hes saying he doesn't have the money to buy the appliances.

Backstory: he is 7 weeks behind not only on my project but a few others it sounds like. I have a strong feeling he is using the funds that I wire him to complete various things to pay for other projects that he is falling behind on as well to appease his other investors.

I'm trying to figure out if there are legal ramifications for this type of thing and if so how does one go about pursuing it? I'm basically at the end of the rope with him and its time for him to pay the piper

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