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Updated about 5 years ago on . Most recent reply

User Stats

49
Posts
1
Votes
Lisa Clouse
  • Richfield
1
Votes |
49
Posts

Investment in a flip gone bad

Lisa Clouse
  • Richfield
Posted

Hi everyone

I would like to ask the flippers on here a question. I’m not looking for legal advice or anything but a suggestions or opinion would be greatly appreciated.

I invested 5k into a flip with this guy. He said 6-9 mos. for my return on it with 12% interest. Feb was 9 mos. At the time I contacted him he said he hadn’t sold the property yet. When I contacted him again this month he told me that he sold it at a loss and he had to put up his own money to close it. I don’t have any proof of the sale, just his say. Do I have any options of getting my money back?

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