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The idea of becoming real estate investor for little less than $ 5 can look too good to be true.
And for many users of flat, a Proper’s company the proceeding promised that – it was.
Landa emergent from lucky In August 2022, by $ 33 million financing and a commitment to help each day Americans access residential real estate for frazal actions.
CEO Yishai Cohen and Ex CTO amit Funaraf founded in 2019 in an effort to make the most inclusive real estate investment. The app requirements was the users are over 18 and the residents of the United States. They can start investing with only 5 $, and buy and selling actions as you see real-time updates on their properties from the asada area. (APE you are missing company in December of 2023, depending on their LinkedIn Profiling. I am Did not respond to the questions to comment.)
Today, the LAND INVENU INVINAL INVERY LAKE IS FALLED AND HER APP INOPERABLE. Users claim that they cannot access their funds and have not paid dividends in months. Startup is embrilled in litigation, including a lawsuit from its readiness investors investors.
An initial user told Techcrough that flood has stopped dividends to him on their actions in January. When he asked chanda now, “paved the question,” he said.
“I called repeated on it and only have become background answers, nothing true”, the user said. “Then a few months later, the app becomes unusual. Do not open.”
The user then asked if he could remove their account, who had opened in 2021 and sell the action. But found flat had disabled their ability to sell actions.
“They essentially frozen out of my funds and just closes the app”, the user said. “Where are the money? Why won’t you return?”
More than 130 complaint They have been archived against the landa to the Business Bureau, with tens of people that slips similar allegations. For example, May 1, a user who presented such complaint shared that they invested more than $ 8,000 through flat and planted to receive dividends the last fall. The user says Cloud Heaven Heavely heaved to their emails from which company is “work on it.”
To the middle of april, when Techcorn asked one’s emission – including the status of the site taked and be closed: “Of course. The site is not. The site
When he asked why the apps didn’t get users have not received dividends in months, the COE’s test answer seemed referenced to the servings of dividenders. Are of our servers. We’re on it. Event of him. We are.
Having prodding in the further 18th part the following statement following the following apartments and in effect of our vision to acccessionate of our vision
Cohen did not respond to our state update question on May 20. NFX and 83north investors did not respond to our multiple requests for comment.
Embriled in a lawyer
It’s not just users who are angry with flash. The primary primary of the company are subject.
Violet and Finance Credit submitted a The 5th of ligation In New York sticks of Carts against Scared the 2024, accusing to “numerous prefect” on more than $ 35 million of value that used to the company. (Viola is also an investor in language through their adventure division.)
The pretenders initiate the tax payments missed that they led to the forced sales of these properties, and lacking, rinse.
The fordice – first reported From immovation posting property immobilize “State Deployment – a year of a year to receive Lesbes to honor the heavy borrows and the manager of the property of the Capimoicement.
After the most negotiations failed, the creditors failed to the brain, and they were grateful, and they were gratefuled, and they were grateful to their language, interagining from his businesses, which claims to be found – including property sales.
Despite the injunction, the prestants turned to court 2025, asking the land said to the feeding to send the lease payments not covered by the bank rule. They will discover this while performing repairs to the septic system of property. They also further as floor bearing bowl of sales or enforcement some properties.
The court ordered flash to explain yourself. Instead of in the beginning of March, Landades asked the court for a violet braking order and l financing, asking the independent manager is “installed illegally.”
Jennifer G. Jennifer was not pleased. In March, ordered both sides to find a solution “is good for all your customers.” She pointed the flat question for a term and ordered the company to pay almost $ 100,000. Some weeks are after, flash punched a formal content. The case is always pending.
Challenge model
Landa now one of many tapers that emerge in the last few years of real estate investment investment. It is apparently not just the only one who fought it – as long as the interest rates for hippets used in 2022.
Grak has raised millions of dollars Before you apparently pivoting to offer a “agent ai for automation of finance finance and real estate with the performance of the human level.” Based in Dallas NothingWhat investment products offer “cityfunds”, allow the investors undressed in order to buy in a city market at a city with $ 250, it also seems to be pivoted. Her website promotes a new tagline: “Access home Micification for financial.”
Arrived It was perhaps the highest of the handful-and the only one seems to be actively operately under the same model. May in May 2022, Techcrough stated that has arrived has raised $ 25 million In a series a rondic funding including the delivery of bezos, to allow people to buy actions of a family of family with “as much as $ 100”. According to his website, the startup will be given more than $ 13 million and interest and has 766,000 reliable recorded.
As for those who have invested with flash, the future of their money appears uncertain. As per May 23, the LAND investor’s portal site also redirects to a “burned” maintenance message.
