Rehabbing & House Flipping
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Creative Real Estate Financing
presented by

Tax, SDIRAs & Cost Segregation
presented by

1031 Exchanges
presented by

Real Estate Classifieds
Reviews & Feedback
Updated almost 8 years ago on . Most recent reply

Straw buying scheme?
Hey all,
I've been going out to a local REI meeting and the sponsor included a little insert about earning $$$ if you take title on a property and qualify for a private money loan (presumably backed by this same sponsor/investor) for an age-restricted community where you must be 55 or older. Once the property is sold after several months, they will pay out the 'fee' to the title owner. Basically, they're looking for an "in" to the community to get by the age-restriction.
Is this something generally to avoid from the perspective of liability etc? Or is this perfectly "normal" and "safe"?