- Report: #1350737
Complaint Review: Alive Investments LLC - Baltimore Maryland
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Author Not Confirmed
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Alive Investments LLC
518 S Conkling St 4th Floor Baltimore, 21224 Maryland, USA
Phone:
(410) 656-9471
Web:
http://www.aliveinvestments.properties
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Alive Investments, LLC Alive Property Management Turnkey Baltimore real estate company locks out investors after receiving their cash Baltimore Maryland
Report Attachments
In November of 2015, I retained Alive Investments for four rental properties.
Alive Investments falsely represented that three of the properties would be rehabbed within thirty days of close. This is not case. One property took 120 days, another took about 150 days and one is still in rehab delayed for over thirteen months. Not only did Alive Investments not meet the deadline, but the combined cost of the acquisition and rehab did not yield the promised 30% after repair value. Moreover the estimated rental income from the finished properties did not match the actual rental income. Lastly, it has come to light that no lead paint inspections were arranged for any of the properties. I have since changed property management companies from Alive Investments to a reputible company. This company is now dealing with the aftermath and fallout from unfulfilled promises to tenants, missing lead certificates, lack of signed lease agreements, and reconciling and correcting violations with the Baltimore Department of Housing.
All told the combined neglect, misrepresentation, fraud and breach of contract breaches all fiduciary duty, and borders on criminal offense.
For the immediate term, I am attempting to be made whole for the expenses incurred that include, but is not limited to the opportunity cost of lost rent, the cost of extended homeowners insurance for vacant property, the cost of all the remodeling and repairs ordered to be completed by the Baltimore Department of Housing. Next, I will be seeking damages for the beach of contract for the terms of the rehab contracts.
