Would you be a credit partner?

General Real Estate Investing
1

I’d appreciate some feedback from any of you who do this…pros/cons? Advice?

Thanks in advance!

2

NO! I certainly would not be a credit partner TO ANYONE! If I’m putting MY MONEY into something, I’m controlling it. I’m certainly not allowing someone who doesn’t have good enough credit on their own to have access to my credit. NO, NO, NO!

Pros/Cons:

Pros: You might only lose half your money

Cons: You might lose it all and then have someone sue you! UGLY!

Mike

3

The last guy who approached me for this was wanting to use my credit to leverage 100% into preconstructions in Florida about three years ago. There was no way we could lose, the market there had no way it could go down, etc. Of course he wasn’t worried if it did, it wasn’t his butt on the line, it would be mine. I said no thanks, look where we would be now.

DB

4

Thanks for your feedback. There seems to be a lot of this going around. The risk factor seems to be WAY too high. Ever heard of National Funding Alliance? They are posting alot on Craigslist L.A.

5

I have looked at a ton of different things over the last several years that I have been looking for investments, and have found that the best stuff is found close and with or from people that know what is going on in your area. Almost without exception, everything that I have found deal wise from the internet has been some one with a line out trying to reel in a sucker.

DB