Posted by GL(ON) on July 07, 2002 at 13:39:37:
Hey Bill, did you just invent another new real estate instrument?? LOL LOL ROTFLMAO
How do I protect myself?? - Posted by AnonymousOne
Posted by AnonymousOne on July 06, 2002 at 20:34:23:
I was wondering, say if a were to get a hold of a mentor willing to fund my deals and even show me the ropes. What ways can I do just to ensure I’m entitled to any profit from a venture we did together? I would assume get our own lawyers involved, RIGHT!!?? Please respond with your input as to how or atleast advice what to do with partnerships??
Eager to learn… and make some mulah…
Re: How do I protect myself?? - Posted by bill gatten
Posted by bill gatten on July 07, 2002 at 10:33:08:
If you find a mentor willing to show you how to find deals, how to fund deals, how to put them together, and then fund them for you to boot and pay you money on top of that. Please send me that guys’s number! I have a great little single-span bridge in San Francisco I’d like to sell him a Quit Claim Deed on. It has a good positive CF from taking tolls, or can just be melted down into gold ingots and flipped-out…buyer’s choice). BTW the Quit Claim is guarantedd to be 100% completely valid and encofreceable: or purchase monies will be cheerfully refunded, along with one hundred million dollars in cash.
Bill
Re: How do I protect myself?? - Posted by GL(ON)
Posted by GL(ON) on July 07, 2002 at 06:32:34:
If you find a mentor willing to finance the deals and show you the ropes, you aren’t entitled to any profit.
If he is willing to put up the money and the knowlege, AND teach you as well, you should be paying him.
Work for him for nothing until you know enough to make your own deals under his supervision and you will be amply repaid.
Re: How do I protect myself?? - Posted by JoeS
Posted by JoeS on July 06, 2002 at 21:14:01:
Any type of partnership requires some level of trust from both partners. However…all parties involved have to be protected. I always recommend that the parties involved be as lienholders on the property. That way when it is sold everyone has to be paid off. The amount of each lien is what is negotiated beforehand.
Re: How do I protect myself?? - Posted by Rusty
Posted by Rusty on July 06, 2002 at 20:44:00:
My CPA advices to go LLC