ok so a family member of mine just bought his 4th house, he has no job and no income as of now. he does however have a business license and about $30-40,000 in the bank because when my grandmother died he was able to buy the house from my grandfather for alot less than market value, so he got a loan for a bigger ammount then paid my grandpa the lower ammount. the odd things start here though. he bought another house and is currently living there, he then bought another house and is currently doing upgrades, he added a room and a bathroom that i know of, with no permits what-so-ever. now he still hasnt sold that house and he just bought another with intent to fix up and sell i believe. with no income i dont see how this is possible unless he is doing something illegal. i am thinking maybe he is using his business license and the cash he has to somehow show a paper-trail of money comming in. but there is no actual business at all. does anyone know how he could be doing this?? any info would be greatly appriciated.
i forgot to mention, he is also using the house that was my grandmothers as a Primary residence (which he is renting out), and also his home that he is currently living in as a Primary residence.
If u were gonna blow the whistle on him you would have long since done it. He knows it, too. How much shut up money you tryin to get out of this guy anyway? lol
I wonder why you need to know this information. Did he acquire your family’s property for legal consideration? If he did, then how does this affect you?
Just from what you are telling us here, there isn’t enough information.
What is his business license for, flea market? Retail? Do you need a Business License to invest your own money in residential RE?