Posted by brandoncbsre on May 10, 2008 at 21:36:43:
In Reply to: I have money to spend now what! posted by Rich on May 10, 2008 at 15:09:55:
Wow.........what a can of worms this could lead to. Do yo have any experience with flipping? If you lose money will you be able to pay it back? Will a loss of her money ruin your relationship with your girlfriend? Make sure you understand all the possible outcomes here and be prepared to deal with them.
Now if you really want to do this have her loan you the money in advance so that it is in your account. Spend the money on an attorney drafted agreement between the two of you.
Another option, if she is willing to help you would be for her to make a deposit into a CD at a good local bank. Then allow you use that money as collateral for a loan from the bank. This will help you build a relationship with the bank for future deals where you can stand on your own.
Read some of the archives on good local banks. They beat borrowing from family or future family in most cases. My wife's parents have the funds available and would probably be willing to finance some of my deals............It would just make for awkward dinner conversation. I've never missed a payment in my LIFE, so it is not a fear of not being able to repay the loan, it's just not worth stressing the relationship.
Good Luck to You