Straw buying scheme?
Hey all,
I've been going out to a local REI meeting and the sponsor included a little insert about earning $$$ if you take title on a property and qualify for a private money loan (presumably backed by this same sponsor/investor) for an age-restricted community where you must be 55 or older. Once the property is sold after several months, they will pay out the 'fee' to the title owner. Basically, they're looking for an "in" to the community to get by the age-restriction.
Is this something generally to avoid from the perspective of liability etc? Or is this perfectly "normal" and "safe"?