Mr. Potts has a variety of job descriptions; investor, contractor, theif... He went in on a partnership deal with me for the purchase of a investment property to which I had found. He gained my trust and as part of our partnership arrangement he was to obtain the financing for the property to which I had bought for cash temorarily until proper financing was obtained.
He convinced me to sign off on the deed of the property in order for his financing to go through, explained that I would be immediately put back on and needed to be removed for the loan to be accepted as it was combining two properties on one loan, of which one I had no ownership rights to. He was an experience investor at the time, and I was not.
I believed his story, trusted what he said and followed through to quickly get the financing in place and my cash back in the bank. Low and behold, I was not returned to the deed and he has now obtained a contract on the property and is scheduled to settle in 4/08. After some research I now find out that along the way he opened a second mortgage on the property which was bought for 98k.
The balance to date is 210k, he has spent all 'our' equity and I never saw a penny. He has now gone further and told me that I was bought out at the time the financing was put in place and that I agreed to sell to him and sign off my ownership rights, this is a complete lie. I have been robbed by this person, my family and I are shocked and uphauled at how anyone could do this and get away with it.
He has committed fraud against us and I'm sure others. This is a very bad person and others need to know... I would NEVER write anything like this unless absolutely necessary. I don't want to see anyone get taken advantage of as my family and I have been.
He is currently in business as a contractor and will likely be investing in real estate deals again in the future. Please do not do business with this man, he's bad news. Please, please, please run the other direction and don't trust this person for one minute!
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