Like others stated here, we were taken by Jeremy Richardson for $5000.
We began working with Richardson Equities LLC based on a web search. I did all of the typical things, better business, web search, etc. Everything checked out. On November 12th, I had a conversation with Brad Paradiso who answered all of my questions. He explained how they make their money and all seemed very logical. After several conversations of question and answer with Brad, we wired the money on November 14th.
We had recently accepted an offer on our current home and the closing date was set for December 28th so time would be a factor for us. Brad assured me that this would not be a problem. The next time I made contact with Richardson Equities, I was informed that Jeremy had "taken over" my file and that I needed to work with him to get our house.
Many weeks of missing little deadlines, ordering inspections and such, and a failure to send the earnest money even though he had assured the realtor that it had been sent. We ended up having to write a $500 check out of our own account to keep the offer alive. When our realtor contacted the financial institution they indicated that they could not lend in Iowa. This left us the offer without any funding. Jeremy kept telling us it would be fine and that "sometimes real estate investments take a little extra time".
As weeks passed, it became increasingly difficult to get through on the phone. When I did get through I would get an excuse, in a meeting, out to lunch, home sick, sickness in the family and the list goes on. As the closing approached, Jeremy asked for an extension which still would have given us time to move so we agreed.
As the extended close date approached we were unable to get anyone on the phone. The closing came and went in which Jeremy asked for another extension, this time, it was for Jan 5th. He had been made aware numerous times that the close on our house was Dec 28th. This left us homeless and with no money to secure housing.
The sellers countered with a close date on Dec. 31st. And an additional $1000 in earnest money which he failed to act on. On Christmas Eve and Christmas day we spent packing all of our belongings into a storage unit. We successfully closed on our house and had to move into a friends basement. We still have no home and no money to move forward. It will take us months, maybe years to put this behind us. We are currently forced to live in a home that is on the market and could sold out from under us. It has been a very difficult time for my wife and three children due to the stress that this situation has created. What Jeremy Richardson does not seem to realize or care about is the peoples lives that this is destroying.
This is a cautionary tale for anyone considering working with this company. I have a nice set of contacts that is growing with every call and mail and willing to share with all who have been effected by this man and his office.
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