Anyone every do this?

[Gregg Coreno]

I was approached by an investor with a unique purposal.
He had a double valued at $100k fully rented grossing $900 a month. He asked if i was interested in buying 25% of the houses equity value which at 60% would be $60k for $15k. I would make $225 a month on my $15k investment I'd have to keep the money in for 18 months and as I understood the $225 would like interest in my money. Gross 17% a yr. Backed by the equity n the house. Whenever after the 18 months I wanted my 15k investment back he would give it, or I could wait till he sold the property collect the 225 a month and collect 25% of the gross along with my initial 15k investment money. Never been approached with this before any thoughts
Thanks

[Don Konipol]

He's selling you a minority interest in a piece of real estate - with no obligation to ever pay you off. In fact your getting no lien whatsoever, legally the seller can kick the tenants out, move in himself, and charge you 25% of the costs, mortgage, repairs and maintenance.

No matter how good the intnetions, there is a 75-80% chance 2 attorneys will end up with all the profit!