Similiar – to the above poster. I invested through RealtyShares in 2018 , for property located in Alabama. There has been no distributions since then , Sporadic reporting to Realty shares on the performance for past two years. Property recently sold ( Novmebr2020) , and though the sale price was ~ 3million more than the original purchase price , Sponsors did not send enough back to Realty shares to cover the original investment – Invested 15K and only getting 13K back. Closing also had an issue of ~ $400 K unpaid water bill for the property . Total cluster and scam
Victim Location 30342
Total money lost $15,000
Type of a scam Investment
Company and its CEO, Joseph M Harker, raised hundreds of thousands of dollars on crowdfunding investing platform Realtyshares in late 2018 for an investment named Vida on Valley (a rental property in Birmingham, AL). Since then, the company has failed to file quarterly reports, failed to respond to inquiries from individual investors as well as the investing platform, and apparently failed to pay contractors for the work they’ve performed. The physical address they have on their website is a shared workspace. Phone number is never staffed and calls never answered. Emails remain unreturned.
While investing in real estate ventures does entail risks, this company appears to have been established to fraudulently receive money with no intent to return either principal or earnings to its investors.