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Updated over 7 years ago,

User Stats

13
Posts
8
Votes
Travis Thornton
  • Tulsa, OK
8
Votes |
13
Posts

Your thoughts/advice on this story?

Travis Thornton
  • Tulsa, OK
Posted
Hello all, awhile back I reached out to this RE investment company that's been super active in my area, buying up the ugliest house, making them look awesome and selling. I reached out because I own a cool house in the area that needs rehabbed and could potentially sell for a great profit but I lacked the rehab costs and the experience (it would be my first). I asked the guy if he'd be interested in partnering with me on flipping the house. I let him know that I had about 10k of my own money that I was going to put into it myself. We met for a drink a couple times to get to know each other a little. Seems like a nice guy, definitely has more experience than myself. BUT, when it came down to it he kept trying to get me to invest my 10k into a project he already had going that was near completion in exchange for 10% roi. I explained that the money was really all I had and that I didn't think it'd be worth it for me to do it. I was a little taken back by it all.. I mean, I approached him about investing in a project of my own and instead was encouraged to invest in one of his.. I'm curious what your thoughts are on this scenario? What does these actions say about this person as an investor? Is it common practice to try to "flip the script" like this? Would you have taken him up on his offer? Do you think he was trying to take advantage of someone less experienced or actually offering me a shot at something bigger? All thoughts are welcomed, thanks a lot for your time! Travis.

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