Directly consult with a registered master builder. Discussed with him whether the deal is good or not. Then invest wherever you want.
if this is an investment all your money is at risk, you could lose it all and never see a penny back, it will be based on that money making money. if the rennovations run out of money and never get completed he will never be able to sell it and give you your money back, this is a very high risk. If this is a loan, he could still default, you could sue and he could file bankruptcy and you will never see a penny of the money
Friend of mine needs 7000 dollars to help with him renovations to a building. Now he already has 4 other people going in on this. I wanna know what do I do to protect myself. I know notary of public doesn't do much. And hiring a attorney will just wipe out what interest he's paying me back. Or will a notary be fine as long as I put down everything he said he would so ex: pay ? Every month at this date for a set amount of months till ? Is paid in full. Thoughts?
