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Real Estate Project Gone Sour

Location: Texas, La Joya. I entered an agreement to cofund a new construction project with an individual that ended up cutting me out of the deal and took the profit for himself. The deal was that I’d pay 60% of the initial down payment for a hard money loan which was $3,600 as well as 100% of the monthly interest payment of $3,000 in addition my job was to oversee the construction of two homes. I got the builds up to 90% completion at 5 months. Around payment time for the interest on month 5 I went through some hardship and was a few days behind on the interest payment. Initially my co-funder was willing to pay on my behalf while I fixed the funds together. He then went on and completely cut me out of the deal. He went on and sold the properties without paying me a dime. I’m a little over $15,000 in on this deal out of my now money which went straight to profiting him. He’s since ignored all my calls and messages. I can’t even get the C.O. From the city because he went and told the city that I broke ties with him. Do I have any options to recover my investment at a minimum? I’m not looking to fight for profits at this point. My subs were paid and all so that’s good but I basically paid for this project as well as labored away do his gain.

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Real Estate Project Gone Sour

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