All Forum Posts by: Helen Ramirez

@Barry H. Hey Barry thank you for that. Well what i meant by the finance guy was that he helps you out either by finding a hard money lender which he says he knows a lot of, and also other solutiions for funding which in my case i didnt have the capital but had the credit. Him and his partner will be putting in the house that they will rehab, so us 3 would be putting in to the house but they said theyll put up more of it since im new to this and are showing me. In the JV contract it says we will be doing 4 houses together and i can do 2 more if i like it. They said they have all the general contractors and lots of buyers they know since they do flips. I'm going to the bank with them to get approved with a bank which he said we can go to my bank that he knows someone in there as well. I'm just scared that this some how is a scam. I researched one of the guys and found him in a lot of investing websites to network and houses he has for sales that go back since 2010 maybe. As for the other guy i cant find nothing on him but then again all i have is his name. The one guy that i find has 2 LLCs. It's a scary thing to kmow i can mess up my credit and money by this.

@Christopher Phillips Thank you for your response. What if i'm taking the loan from my own bank and keeping it myself and just giving them the $20,000 they said they're putting in the rest of the money as well for the closing etc... I am going to meet up with them again and ask more information such as receipts, who exactly are they.. etc..They claim they're teaching me the ropes for free just that im putting in the deal with them. 

@Andrew Johnson I believe he means the amount that I used to to put in to invest? Lets say the $20,000. 

Hello BP community,

So I am new to this and I came across an investor who works on rehabs and also knows lendors. I met up with them (two individuals) who are partners. One guy does the financial and the other guy does everything else. They said they like to teach newbies the rope but of course they (newbies) has to put in the deal. I told him i have no capital but i do have good credit. They told me they work with helping getting funds and know a lot of people such as banks, hard money lenders so forth. He said with my credit i can get a loan out, i will be using some of it in the deal say i get $80,000, i will have to put say $15-20,000 down. they will be doing the rest. They told me they have the GC buyers and so forth. They said i can of course go to the bank with them and see what im approved with. They said the profit will be split 4 ways 25% each, 25% ONE GUY, 25% HIS PARTNER (Which i met as well) 25% myself and 25% back to the bank. My question is how can i know for sure i am not getting scammed? They showed me a HUD-1 sheet of what they closed on to explain how it works. To me they seem legit but you just never know. What is it to them to help someone new and not get a lot of profit? They did send over a Joint-venture agreement to look at. They haven't put pressure on me either.