Investment Opportunities they aren't always as they seem.
That was the opening line from a client I had just met.
Mr. Handyman as it turns out has had a few bumps in the road. Haven't we all?
His deal wasn't a one of a kind, it wasn't the first time I had been offered it either but I must say it was different than I had anticipated when we first met.
He decided that it would be a great opportunity for me to buy him a home "of my choice" let him fix it and live in it while making the repairs. Then we could split the profits once completed and sold.
I have to say it was a novel approach for me to spend my money and get less at the same time.
I also must say, I actually mulled the prospect of doing this over until his credit report came back. He has more paper attached to his name than Pillsbury has flower.
He was a bit annoyed with me when I said no. He couldn't understand the fact that I would own the home and he could live there and both would benefit.
It was a pretty simple decision in actuality. I might own the home but once he took up residence I would have to take legal action to get him out. My costs for him living free could have been much higher.
I had no assurances that he would repair anything. His recent history didn't suggest that he was able to complete any of his self proclaimed repair work.
So sometimes these opportunities may sound good but many times they only work for one side of the partnership.
My suggestion look before you leap...that first step could be stories. Desperate situations cause people to take desperate steps.
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