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24 Jun 19
15:04
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Date Joined:
23 May 09
If I set up a property company.
Borrow 150k from the bank.
Sell my house to the property company for 150k
Property company goes bust
Easy way to earn 150k?
Borrow 150k from the bank.
Sell my house to the property company for 150k
Property company goes bust
Easy way to earn 150k?
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I have another one ive often mused over,
if you have other access to somewhere to live, get equity relief on a property then say rent it out officially or unofficially for 20 years say, I no equity relief is poor value but its still some sort of double bubble isn't it |
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equity release
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What security do you imagine that the lender would require in order to provide the loan?
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£150k ?
A mere £150k would raise a lot of red flags and you'd get done for fraud, You need to go much much bigger... Say a £billion Barclay bros: built Canary wharf on a mortgage. Company went tits up with £1 billion debt. They step in and buy the finished block for less than £200m Trump, same scenario with same scale debt write off ( and a few $100m tax credit so he hasn't paid much tax since ) |
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Easy way to earn 150k?
No, but an easy way to earn 12 months in the Nick. |
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12 months? As long as you don't offend anyone along the way you might get away with lines.
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Oh Steve you haven't thought this through.
If you get 150 Large from the Bank unsecured good luck to you |