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Updated over 8 years ago on .

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2
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0
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Jermaine King
  • Macon, GA
0
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2
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I NEED SOME HELP AND ADVICE

Jermaine King
  • Macon, GA
Posted

This is a intricate story yet I've simplified the best I can Im early in a real estate investing career. My brothers adopted cousin has offered to be a mentor to me as an investor. He says he has been looking for a partner for quite some time. I obviously fit the bill I have a credit score of at least 740 in all three credit bureaus and no delinquencies except that at the time of starting with him I had no revolving credit I had never used a credit card so I got 2 credit cards back in late or mid may and added him as an authorized user he said he'd help with the payments . Fast forward to a couple months later I got a credit card from chase. Of $9700 and capital one of $1000 (which we have used roughly $10000 with chase and $950 with capital one) to remove that delinquency and raise my score above 800. He linked his bank account to the chase account to make payments and about a month ago I seen that from his account a payment of $1500 was set to be drawn on July 20 the due date being July 22 the minimum payment being only $30. He has told me before and recently had reminded me he wants to put my name on the deed of a $130-$160,000 house that he's paid off and says he's doing me a great service as an investor. July 19th comes and he says he needs to reconfigure the payment and post $350 on the chase acct. to bring the balance up from negative etc. But primarily because it cost $3000-$4000 even more sometimes to put my name on the house deed. Is that true? At this point I I need some help and advice opinions and answers etc.