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#1
11-07-2007, 02:46 PM
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Re: Hard Money Lending
The risk/reward doesn't seem to add up here. The potential to make 12k or so just doesn't add up here. I think he's trying to use you as a risk shield if something goes wrong and it becomes hard to resell the house you bear the costs. The potential for a long listing to resell is also a danger, every month just eats away at your already small margin and even if the house is worth more then what you paid + repairs you can still loose out on the carrying costs.
In short if the boss was sure this was guaranteed profits he wouldn't be looking for a partner Steve 
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#2
11-07-2007, 03:10 PM
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Re: Hard Money Lending
[ QUOTE ]
I think he's trying to use you as a risk shield if something goes wrong and it becomes hard to resell the house you bear the costs. [/ QUOTE ] This is my thinking also. Am I wrong in my thinking that getting him to cover the carry cost will reduce my risk in the deal? [ QUOTE ] In short if the boss was sure this was guaranteed profits he wouldn't be looking for a partner [/ QUOTE ] I have said this exact same sentence to myself 1000's of times.
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