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Updated about 18 years ago on . Most recent reply

User Stats

92
Posts
3
Votes
Andrew B.
  • Real Estate Investor
  • Calgary
3
Votes |
92
Posts

Co-worker wants to help..

Andrew B.
  • Real Estate Investor
  • Calgary
Posted

Co-Worker of 3 months,

She wants to help me get into investing, She has been investing with her husband for a long time and owns like 5 properties right now . She and I talk about investing everyday and she said "Listen next property I come across in 60k-80k range, I will finance it in my name, put both of our names on the house and we will paint, put laminate floors in and sell it in a few months and split the profits" ..

She Obviously went more into detail but the only reason she is doing this is to help me get into it.. She said we will go out some weekend look at properties and I will be present with her lawyer all though the process's.. She also buys and sells on her own not using a realtor. just lawyers..

Although I know she is a very good person ( Shes about 45 and Im 20 , may be taking advantage?) and Im "FAIRLY" sure that she would not do anything to harm my wealth , there is possibilies correct? what could/should i look out for, any signs?

Thank you very much

Andrew

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