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Updated about 11 years ago, 10/14/2013

User Stats

29
Posts
3
Votes
Ron Steckly
  • Oakland, CA
3
Votes |
29
Posts

Flipper wants loan for $70K

Ron Steckly
  • Oakland, CA
Posted

Hi,

Flipper wants 70K for rehab and is willing to put me on title of property along with hard money lender and his LLC. Property is selling for $165K but comps but it rehabbed at $282K to $297K.

He has experience flipping but this is the first he has done on his own.

Should I do the deal? He has an LLC, so he could just take the funds and disappear. On the other hand, I will be on the title so I could recoup most of the money.

Anybody know a good real estate attorney in California?

Thanks,

Ron

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