I bought a 32 units multifamily complex in Detroit on Aug 19 2013.
The property management company promised with proposed budgeting saying she can get the 32 units rehab and tenanted with budget $75,000 only for the whole 32 units.
I transferred the money $61,500 to them sometime in Oct 2013, but till now “none” of the unit has been rehab.
They send me invoices two weeks ago showing me how the $61,500 being spend but none of unit is ready for move in.
I looked at the bill, noticed the invoice is full fake yet inflated figure.
Therefore, I got some local people to take look of the work done, the person come back to inform me; saying the work done is worth less than $20,000. He showed me all the video of the work done.
May i ask what shall i do now to claim back the money?
I desperately need help !!! any good, reliable yet reasonable price and expert in real estate claim lawyer to recommend?
By the way, how do i know whether the property management company is also in this forum???
I am looking for a reliable yet reasonable property management company in Detroit to recommend?
Thank u so much.