We See This Every Day in Real Estate: The "Daejon Love" Problem
If you haven't seen the story yet, a 35 year old man named Daejon Love was recently arrested and, according to federal prosecutors, charged with wire fraud conspiracy for allegedly posing as a San Francisco 49ers player to defraud more than two dozen women out of over $1.3 million (again all of this is alleged).
Per the criminal complaint and reporting on the case, he allegedly built out fake bank statements, staged FaceTime calls, custom jerseys and helmets, and even had an accomplice pose as his "financial advisor" to make the fabricated wealth look real. Everything below is based on the allegations in the publicly filed complaint; none of it is proven in court yet.
I'm not writing this post about football or dating apps. I'm writing it because I see a version of this same playbook in real estate constantly, and most investors never stop to check it.
Here's the pattern, and it should sound familiar:
A fabricated track record ("I've closed $200M in deals") that nobody bothers to verify
Screenshots of "returns" or account balances that are never tied to an actual audited statement
Staged calls or testimonials meant to create the illusion of legitimacy
Borrowed credibility, name dropping real players, real banks, real institutions to make the story feel true
A sense of urgency or intimacy ("this is a personal, off market opportunity for you") that discourages you from doing normal diligence
The women in this alleged case weren't naive. They were dealing with someone who allegedly built an entire multi year, multi platform persona designed specifically to survive scrutiny. That's the part real estate investors should sit with. If you assume you'll "just be able to tell," you're assuming the fraud is lazier than the ones that actually work.
So what do you actually do about it in real estate?
Verify track record independently. Don't take a deal sponsor's word for prior deals, call the county recorder, check for the actual deed or note assignment.
Ask for audited or third party verified financials, not screenshots.
Check if the entity is actually registered where it claims to be (SEC EDGAR, state Secretary of State).
Talk to other investors in the same deal or fund, not just the ones the sponsor hand picks for you.
If something is described as "guaranteed" (RUN AWAY) or the story feels a little too tidy, that's the moment to slow down, not speed up.
None of this is about being cynical. It's about applying the same diligence to a sponsor's story that you'd apply to a property's title. Stories are cheap to fabricate. Verifiable paperwork is not.
- Chris Seveney
Most Popular Reply
That's wild! Always do your due diligence, never trust blindly