Real Estate Investment Fraud

I have invested in two property in California with firm/person who does flipping. After first property was sold, person did not return full money with profit. After almost one year after so many back and forth , he did return about 95% of my money for first property. He still did not return money for profit and small portion of principal from this property. He says he will return money after he sells another property. I was afraid that he might sell second property and still do same so we met with attorney and filed case against him. Attorney has filed Lis Pendens for second property.
He has put second property on market but after we told him about lawsuite , he said , he will take property off market and rent it out.
Our name was not on the title, he has only given Joint Venture Agreement and based on that his contract for first property has been violated for more than 1 year since he supposed to return our money as soon was escrow was closed.

I have asked him to put our name in deed of trust for remaining balance on first property plus amount invested in second property but he simply ignored.

I am not the only one whom he has fooled, I know one more person whom he did same and we both did file case against him.

Case was filed on Nov 2nd and based on attorney it has seen served also. How do I find out whether he has responded or not. I don't see any info on DoaminWeb site other than case filed. If he has not responded then can we get default judgement and put judgement lien in 2nd property which is still not sold.

What are our best options ?

Any other authority, I should be able to complain about fraud this guy is doing. I did complain to Bureau of Real Estate but they said they did not find any wrong doing by this guy which is very shocking to me.


Appreciate your help.

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Case was filed on Nov 2nd and based on attorney it has seen served also. How do I find out whether he has responded or not. I don't see any info on DoaminWeb site other than case filed.

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Visit the courthouse and review the case file.

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If he has not responded then can we get default judgement and put judgement lien in 2nd property which is still not sold.

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You should be asking your lawyer about that.

Theoretically, though, you can seek a default judgment, but whether you get one is anybody's guess. And even if you get one, you might still never see another nickel of your investment back.

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What are our best options ?

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There are no "best" options. You've already done yourself damage by getting into this deal in the first place. All you can do now is follow the guidance of your lawyer and hope for the best, but prepare for the worst.

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Any other authority, I should be able to complain about fraud this guy is doing. I did complain to Bureau of Real Estate but they said they did not find any wrong doing by this guy which is very shocking to me.

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The Bureau of Real Estate is only concerned about whether he has violated any licensing laws. If he hasn't, then he hasn't done anything wrong at that level.

That he is doing wrong to you is between you and him.

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Quoting adjusterjack

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Visit the courthouse and review the case file.

You should be asking your lawyer about that.

Theoretically, though, you can seek a default judgment, but whether you get one is anybody's guess. And even if you get one, you might still never see another nickel of your investment back.

There are no "best" options. You've already done yourself damage by getting into this deal in the first place. All you can do now is follow the guidance of your lawyer and hope for the best, but prepare for the worst.

The Bureau of Real Estate is only concerned about whether he has violated any licensing laws. If he hasn't, then he hasn't done anything wrong at that level.

That he is doing wrong to you is between you and him.

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Their is real estate to put a judgment lien against so the odds might be a little better in this case than in some others.

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Quoting llworking

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Their is real estate to put a judgment lien against so the odds might be a little better in this case than in some others.

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Can default judgement put like Judgement Lien or we have to till outcome of case first.

A default judgment is the outcome of the case if you file for one and are awarded
one.