Please.. Help me figure this out - Posted by Destin - Oh

Posted by phil fernandez on November 15, 2003 at 18:56:57:

Why not talk to a local attorney. Ask the question you asked here and you should get a good answer. Also do the same with an accountant.

Please… Help me figure this out - Posted by Destin - Oh

Posted by Destin - Oh on November 15, 2003 at 17:16:28:

Please Help… I need some advice…

I have an investor who is eager to give me the money I need to get started doing renovations. BUT… He and I are both unsure how he should give it to me. He is disabled and in the middle of a divorce. He is afraid that doing REI (Rehabs)will mess something up with his benifits. His lawyer has told him it would not be wise for him to show any outside income.

I currently do not have good credit (to wreckless in the younger years) but I am an excellent operational manager as well as handyman. The legal and tax side though of this business have me overwhelmed right now.

I am not sure if I should be researching differnt types of secured loans, trusts, business models that would grow in equity for him rather than income, etc etc… Any guidence/direction anyone could provide would be extreamly appriecated.

thanks in advance
Destin - OH

P.S. - below is a link of where I asked this question a few days ago. It supplys a little more background info. I hate asking the same question twice but I am in desperate need of this answer. I know it isnt that hard of an equation, it is just currently is over my head. Thanks again

Re: Please… Help me figure this out - Posted by ken

Posted by ken on November 15, 2003 at 20:37:23:

I do not think it should affect disability payments. Ibelieve he has the right to make investments. Call the disability office and ask them to put the answer in writing. As for the divorce, nothing says he has to file the mortgage.