Parnters

4 Replies

I'm not sure this is the right area to post, if not please move. 

What is everyone's thought on this. A person approaches you to invest. They have some cash to start and have a couple thousand dollars each month to invest. However they had a bankrupsty approx 1.4years ago.  Would you invest with them? If no, why? If yes, why and how would you make a deal happen? I don't think they can be on a loan for a few years because of this.

Thanks

If this person has cash to invest and a couple thousand a month in extra income you might want to start questioning where this money is coming from if they can't get a mortgage on their own. You need to offer more details if you want advice. 

Yes,  only if I had complete control.  They give me their money to invest and I do whatever I believe to be in their best interest and come up with an agreement on when and how we each get paid.  If they want control, probably not.

They have a good/great job. Also note that the bills they have are very low. I looked into bankruptcy a bit. You can get FHA loans from 1-2yrs, convention in 4yrs for a personal residents, 7yrs convention for investmenting. I don't know what commerical loans are like, can't find solid information on it yet.

Bankruptcy is the economic "reset button".  Most lenders, after a short seasoning period, treat those coming out of bankruptcy better than those with good credit.

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