Rental Property Investor · FL · Member since 2021 · 13 posts · 8 votes
Hi, my name is Reagan. I am a rookie investor with a question about a property's title. I met a new investor, with contracting experience, at a local real estate meet up and he is interested in doing a flip using a hard money loan, renting the property out to his girlfriend, then using a FHA loan to buy it so he can live in it. This investor let me know that since I have a track record of buying 3 properties, that the hard money lender will give the investor a better rate and add less points if I help. I would then get a small amount of money as compensation since I helped save even more. To prove that I actually owe my properties, the investor and hard money lender wanted me to send them an image of my titles with my name on it. I wanted to know if there was any danger to this. The investor seems genuine and I could not find any major red flags about him online. I however, don't know him beyond one meetup and a few phone calls. I want to make sure that this is not some sort of scam where someone could steal my title or information. I appreciate any response. Thanks.
These days there are too many scams and whether or not this is one I have no idea. My advice is send them nothing and don't even talk to them again. Just sounds too fishy. It is free advice, take it for what it is worth.
These days there are too many scams and whether or not this is one I have no idea. My advice is send them nothing and don't even talk to them again. Just sounds too fishy. It is free advice, take it for what it is worth.
I agree with the above post. I would not send him anything and distance yourself. There are so many other ways to prove ownership, like a RET bill or something. He may not have ill intentions, but it's better to move on and not find out either way.
@Reagan Clo sounds very suspect, especially as it's usually very easy to check ownership through online public records, unless you own them in a LLC or trust where your name is not in the title, which you usually do for privacy, not to then hand out copies to strangers. And he can't get an fha loan unless he's an occupant.