All Forum Posts by: James Pederson

Unfortunately, I know he's done this to other investors, too now. It's highly unlikely there is an innocent explanation. I've learned there are a lot of angry people out there..... there's a reason he deals with mostly out of state or out of country investors. 

I'm going to talk to her. I've already talked to my son in law. He had no explanation when I confronted him with the $1300 overcharge on blinds. He just threatened me to not let me see my grandson. 

Thanks, James Ma, appreciate it. Makes my blood boil too. I feel so angry and betrayed. 

Andy, the thing is, it was already my investor's property. He bought it cash four years ago. It's vacant and my son-in-law rehabbed it before the investor owner finances it. Way overcharging while doing it. 

Thanks, Jim. Yes, you certainly understand the situation, thanks for reading that long post :). Yes, I am going to present my conclusions to my daughter in writing. I am not dealing with the son-in-law anymore now that I know what he is. The danger to my daughter and grandson is my greatest concern. You mess with Powerful Men and Women With Money long enough, and the roof caves in eventually. 

this is a bid. 

I will edit my post. My son in law is bilking an investor I brought HIM of 10s of thousands of dollars. I just became aware of it. 

He's a family member. It's not about me going to court. This isn't MY property. it's an investor's that I brought my family member. 

Sigh. The last 10 days or so have been traumatic for me. I have a son-in-law who is an experienced real estate investor. I became aware that two deals had closed six weeks ago involving one of the investors I got him. He didn't tell me they closed and didn't pay my marketing fees to me. 

So, I started to look at the emails about these two properties he CC'd me on. I came across the construction bid. Usually I pay no attention to them as it's not my part of the business. 

My hair stood on end. I'm not a construction guy, but I know these houses and a bit on costs. This is perhaps a $60,000 rental house before renovation. The construction bid is attached with names blacked out. 

Total on bid is about $26,000, BUT he added more than $10,000! on the bid in additional emails not on the bid! WTH????

new water line: $8,900.00

water heater $1,295.00

Blinds for all (10 not 13 as claimed on bid) windows: $1,595.00

Stove, Microwave, Refrigerator: $2,950 includes all material, labor and installation.

Based on my conversation with 2 people who worked on the site, there is no $8900 water line. 

I know the blinds installed are 12 bucks from Lowe's. It took one guy an hour to install 10 not 13 blinds as claimed on bid. The overcharge is around $1300. 

There was no new siding bought, like $1900? on the bid. It's recycled junk from the back yard. The interior and exterior paint jobs involved a few hundred bucks in paint and were sprayed in a day. Total on both $7000 in labor and $3100 material. In SANE. 

The tree removal took two guys two hours maybe, burned some in the yard, hauled away the rest, $1900! charge. 

I have not yet walked the property with an experienced contractor but that's next. My guess based on my conversations with people there is there is $20,000 at least in overcharges here. 

I have family ties at risk. I brought this investor into contact with my son-in-law. There are so many facets to this I've been in a tailspin and a wreck. And he still hasn't paid me my commissions, even though he knows I know the blinds charge is outrageous, not to mention the rest of the bid. 

I could lost contact with my daughter and grandson. My son and I are going to do something, just figuring out what to do. 

Opinions appreciated. I'll update this post as I learn more. 

Please note - THIS IS REAL. This is not BS. I figure someone in the thread will say I'm making this up. I wish I were. :( Thank you for input. 

UPDATE - I will walk the property with a licensed contractor and provide more info.