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Would you try or keep out of it?

4 replies

WoodenClock · 05/05/2022 21:23

Friend's husband has plans to make a lot of money. It involves acquiring a large plot of land on which they can build 7 detached houses. Appqrently it's owned by a widow thay know and they can rip her off get a good deal. He has a "friend" who can finance it and another who will do the building work. He has no business experience and no practical skills.

It is not at all clear why the two friends want him on board - what he is bringing, but to make it happen he has set up a company of which friend is a director and will remortgage their house to raise equivalent to 2 years' salary, so that they can live until the scheme is sold and they realise the enormous profits. He plans to leave his job although it's not clear what his day to day involvement in the project will be.

Friend is saying things like "I won't let the money go to my head", but is actually already spending it in her head.

I'd love to think it will all come good, but it seems highly unlikely and meantime she stands to lose everything.

Even if there is a reason for him to take a cut, I just don't see how the profits, split 3 ways, can amount to kinds of sums they're taking about.

ATM I'm nodding and smiling and saying it all sounds very exciting, but...

OP posts:
Willdoitlater · 05/05/2022 21:44

You don't really know what's going on, what their plan is, how it might work (or not). I think you are safest to keep completely out of it, and keep your wits about you for the moment they ask you to invest in their scheme.

WoodenClock · 06/05/2022 11:20

Yes, I know, but there are so many gaps that she doesn't seem to have answers for that I'm worried she hasn't been told the full story and she's signing away her home for it.

OP posts:
Blone · 06/05/2022 11:24

He has no business experience and no practical skills

Sounds great! Confused

Why is your friend letting him sign away her house to this craziness?

WoodenClock · 06/05/2022 11:25

Blone · 06/05/2022 11:24

He has no business experience and no practical skills

Sounds great! Confused

Why is your friend letting him sign away her house to this craziness?

Because she thinks they're going to get rich. She has no business skills either...

OP posts:
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