What do you think about a business a friend of mine has? There is a lot of $$$ to be made?
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He loans money to people who OWN a house or piece of land in MEXICO who are financially cash strapped. He was explaining to me that he loans them the money up to 35% interest and usually loans them more than he believes they could pay back with a secure lien on the land title, but less than the property is worth (So he can extract his profit) The home/land owners are uaully unable to repay the debt and he forecloses and takes the house, resells it on the market and makes a tidy profit. There is some remodeling involved because most of the homes are in terrible condition.. He calls it "Flip that house" He has shown me the books he keeps and he is making over $100K ONLY on this business alone!! He wants me to help remodel and prepare the home and deal with the locals there since I speak spanish fluently. He has also come up with another idea for loaning money on Credit Cards (CC) the interest would be high as well on them..Any input on this? Is it a good way to make a quick buck?
What do you think about a business a friend of mine has? There is a lot of $$$ to be made?Seems like a good idea as long as you are not putting a HUGE investment yourself. Remember books can be doctored, and you would not be the first "friend" to be cheated on.
What do you think about a business a friend of mine has? There is a lot of $$$ to be made?I think it has nothing to do with immigration.
What do you think about a business a friend of mine has? There is a lot of $$$ to be made?More Related Questions and Answers ...
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