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hufnstuf

  • hufnstuf replied to the topic free deposits in the forum No Subject 21 years, 4 months ago

    Rob

    I certainly wouldn’t go near this approach. Apart from the illegal aspects there is the risk of losing all credibility with the banks – also paying more stamp duty than you otherwise would on the inflated purchase price.

    Regards

  • hufnstuf replied to the topic free deposits in the forum The Treasure Chest 21 years, 4 months ago

    quote:
    Hi

    Just finshed talkin to an investor that said they bought a house for $200’000 but had on the contract 250’000 so they get 50’000 extra cash from the bank which they are using as deposits on potive cash flow houses I said that it was illegal and they said that everyone is doing it what are peoples thoughts on this.

    Thanks Rob

hufnstuf

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