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Updated 8 months ago, 05/01/2024
Showing property title as proof of ownership concerns
Hi, my name is Reagan. I am a rookie investor with a question about a property's title. I met a new investor, with contracting experience, at a local real estate meet up and he is interested in doing a flip using a hard money loan, renting the property out to his girlfriend, then using a FHA loan to buy it so he can live in it. This investor let me know that since I have a track record of buying 3 properties, that the hard money lender will give the investor a better rate and add less points if I help. I would then get a small amount of money as compensation since I helped save even more. To prove that I actually owe my properties, the investor and hard money lender wanted me to send them an image of my titles with my name on it. I wanted to know if there was any danger to this. The investor seems genuine and I could not find any major red flags about him online. I however, don't know him beyond one meetup and a few phone calls. I want to make sure that this is not some sort of scam where someone could steal my title or information. I appreciate any response. Thanks.