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Updated about 11 years ago, 10/14/2013
Flipper wants loan for $70K
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