My $100K Loss With Jimmy Vreeland / Vreeland Capital

My $100K Loss With Jimmy Vreeland / Vreeland Capital

Property Manager · Saint Louis · Member since 2018 · 11 posts · 9 votes

I invested through Jimmy Vreeland / Vreeland Capital's turnkey real estate system and lost over $100K across four properties (two flips and two rentals) over more than a year.

This was not a single bad deal or isolated mistake. The same pattern repeated across multiple properties, time periods, and geographies within the system.

The model was marketed as a fully managed, "done-for-you" investment system handling acquisition, renovation, and property management. That structure was a major reason I invested.

In practice, my experience involved repeated construction-cost overruns, extended delays, poor communication, misrepresentations, and final property values that came in significantly below projections. Rehab budgets were repeatedly exceeded, timelines extended by many months, and projected ARVs did not match actual outcomes.

Examples from my deal-level reconciliation included:

- Rental 1 - Missouri: Rehab ran 77% over budget and eleven months late; estimated loss of over $25K+ versus Vreeland's stated ARV.

- Flip 1 - Missouri: about $19,000 net loss after rehab ran 22% over budget and the sale price was $55,000 below the stated ARV.

- Flip 2 - Arkansas: about $55,000 loss on disposition.

- I also paid $13,000 in program fees over 13 months.

Additional contractor charges were assessed during the process that I had not authorized through an executed agreement or approved change order.

I sent Jimmy Vreeland a formal resolution request on March 7, 2026. After discussing it with him, I sent supporting deal reconciliations, spreadsheets, change orders, and invoices on March 12, then followed up on March 13 and 16. My proposed resolution was not substantively addressed, and communication ultimately stopped without meaningful resolution.

While real estate investing always carries risk, my expectation was reduced complexity through professional execution. Instead, the outcome required substantial owner oversight and produced significant financial losses.

Based on this multi-property experience, I would not invest with Jimmy Vreeland / Vreeland Capital again.

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Ashish AcharyaBusiness Member
CPA, CFP®, PFS · FL · Member since 2017 · 5k+ posts · 3k+ votes
1mo

Elliot, that’s a painful experience, and the part that stands out most is that the same issues repeated across multiple properties rather than being isolated to one deal.

At this point, I’d separate the emotional frustration from the financial cleanup and go property by property. Reconcile what you originally funded, what was actually spent, which charges were authorized, what improvements were completed, what each property ultimately sold for or is currently worth, and what documentation you have supporting every overrun and change order.

I’d also have a CPA review the tax treatment of each property separately. The two flips may be treated differently from the two rentals depending on how the properties were held and operated. Properties held primarily for sale in an active flipping business are generally treated differently from investment property, while rental losses can be limited by the passive-activity and at-risk rules.

For the rentals, I’d also look at whether there are still depreciation or cost segregation opportunities that could improve the after-tax result. But cost seg should not be sold as a blanket tax savings. If the resulting rental losses are passive and you cannot currently use them, those losses may simply carry forward.

If flipping is something you plan to continue independently, that active income is also where an S-Corp may be worth evaluating once the activity and profits justify it. And if there are disputed charges or amounts you believe may never be recovered, I’d have both your attorney and CPA review the facts before assuming there is a tax deduction. The treatment of an actual deductible loss depends heavily on what happened and how the transaction was structured.

The biggest lesson I'd take forward is to independently verify the rehab budget, ARV, contractor scope, and exit assumptions even when the investment is marketed as "done for you."

Happy to connect!

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  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    1mo

    Unfortunate!

    Always, "trust but verify" to avoid issues like this.

    You may want to report them to local real estate boards and state AGs.

  • Ashish AcharyaBusiness Member
    CPA, CFP®, PFS · FL · Member since 2017 · 5k+ posts · 3k+ votes
    1mo

    Elliot, that’s a painful experience, and the part that stands out most is that the same issues repeated across multiple properties rather than being isolated to one deal.

    At this point, I’d separate the emotional frustration from the financial cleanup and go property by property. Reconcile what you originally funded, what was actually spent, which charges were authorized, what improvements were completed, what each property ultimately sold for or is currently worth, and what documentation you have supporting every overrun and change order.

    I’d also have a CPA review the tax treatment of each property separately. The two flips may be treated differently from the two rentals depending on how the properties were held and operated. Properties held primarily for sale in an active flipping business are generally treated differently from investment property, while rental losses can be limited by the passive-activity and at-risk rules.

    For the rentals, I’d also look at whether there are still depreciation or cost segregation opportunities that could improve the after-tax result. But cost seg should not be sold as a blanket tax savings. If the resulting rental losses are passive and you cannot currently use them, those losses may simply carry forward.

    If flipping is something you plan to continue independently, that active income is also where an S-Corp may be worth evaluating once the activity and profits justify it. And if there are disputed charges or amounts you believe may never be recovered, I’d have both your attorney and CPA review the facts before assuming there is a tax deduction. The treatment of an actual deductible loss depends heavily on what happened and how the transaction was structured.

    The biggest lesson I'd take forward is to independently verify the rehab budget, ARV, contractor scope, and exit assumptions even when the investment is marketed as "done for you."

    Happy to connect!

    INVESTOR FRIENDLY CPA®5241 Reviews
    TaxMD™ | AI-Powered Tax Planning
  • Member since 2024 · 4 posts · 1 vote
    1mo

    That is horrible bro. Go with your gut, if things are not going well from the start, the chances are, it will be a bad right away.

    Sorry man

  • Josh C.Pro Member
    Property Manager · Indianapolis, IN · Member since 2010 · 1k+ posts · 1k+ votes
    1mo

    Spent 13k to teach you how to lose money? Oh man. So sorry. Continue to blow up their socials and maybe they will work with you. At least on the coaching side. 

  • Stuart UdisPro Member
    Attorney · Philadelphia · Member since 2018 · 2k+ posts · 3k+ votes
    1mo

    @Elliot S. Mind sharing the FMV of these properties?

  • Investor · Statewide, MO · Member since 2011 · 813 posts · 424 votes
    1mo

    Man, that really sucks. Thanks for sharing this, hopefully it will help someone else not get burned by these guys. 

    It's a shame so many turn key operators burn people like this.  

  • Huntsville, AL · Member since 2018 · 577 posts · 864 votes
    1mo

    @Elliot S. - two comments here that jumped out at me the most:

    "Flip 1 - Missouri: about $19,000 net loss after rehab ran 22% over budget" - that happens to all of us. I've had numbers worse than that because the market shifted while we did the rehab. If you feel this is unacceptable, then flipping for REI is probably not right for you. It will happen if you flip enough properties. Should this be the norm? Absolutely not. But that's not an unreasonable scenario to occur unless you feel it was due to negligence, which is a totally different situation.

    "I also paid $13,000 in program fees over 13 months." - if this was similar to assignment fees, that again happens - we've been surprised sometimes how much a wholesaler pulled in on a deal, but all that matters to us is what our bottom line is and what our purchase price is.  Now, if this is some sort of "admin" fee and "membership" fee - if it was not disclosed to you in writing up front, that's ridiculous.  But if you agreed to it in writing before you started and it was totally disclosed,it is what it is.  

    Did you visit each of these properties before and during the rehab? If not, learn from this as you pivot to future REI opportunities. Spending $300 on a flight is way cheaper than spending an extra $20k because due dilligence wasn't done.

    Sorry you had to experience it, but hopefully you can transition to better opportunities in the future.  

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