Other People's Money

[Romy Gibson]

Good Morning BP,

I'll get right to the point, I have a friend who recently came into a large amount of money. He called me yesterday because he knows I'm into real estate investing and he said he doesn't want his money sitting in a bank. I have one deal under my belt and I learned a good amount of information, but honestly, that deal went through without any real hiccups. I guess what I'm getting at is, I'm wondering if it's a good idea to take his money and put it in a deal, even though I don't really have that much skin in the game. If it was my money, I would be infinitely more comfortable with using it to learn, but I feel like when it's someone else's money and they're coming to you for an investment, you need to have it figured out. Ultimately, I'm going to do what I'm comfortable with, but I just wanted to know what you guys' thoughts are. What would you do in this situation? Thanks in advance!