My friend made me a proposition that if I signed this house into my name for $200,000 I would OWN it, and somehow get $20,000 back (can't remember exactly how he said I'd get that back, he was talking fast).... then I could apply the $20,000 to the monthly payments for about a year or so (or rent it out if I wanted to)....... and in the end I'd flip it and sell it in a year to make money........
Has anyone ever heard of this or been successful with this sort of thing????? He says he'd have me sit down with his broker and what not..... being that I'm not AS familiar with that sort of market as some people I want to know if what he's doing is legal and if it has the potential to actually MAKE money. (He's got a lot of crap to show for his last flip.... a boat, two cars, a new house, a bike... etc.....)
2007-07-03
09:05:43
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6 answers
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asked by
Katia
3