If you think a relative has been exploited, call the police, sheriff or your local adult protective services agency.
Managing someone else’s money | Consumer Information
You also can alert the bank or credit card company. If your loved one is in a nursing facility, call the long-term care ombudsman and talk to a lawyer. The Consumer Financial Protection Bureau CFPB Office for Older Americans will walk fiduciaries through the job, showing them how to spot scams and financial exploitation, and advising on what to do if the loved one is a victim.
There is little room for family friction, but it may appear. Tackle the problem before it festers.
Reach out to a family counselor, mediator or social worker who consults with families in your situation. A support group will give you a place to vent.
Was this page useful?
The Association for Conflict Resolution has listings of mediators. Members save on in-home caregiving services. You are leaving AARP.
Please return to AARP. Manage your email preferences and tell us which topics interest you so that we can prioritize the information you receive. In the next 24 hours, you will receive an email to confirm your subscription to receive emails related to AARP volunteering. Once you confirm that subscription, you will regularly receive communications related to AARP volunteering. In the meantime, please feel free to search for ways to make a difference in your community at www. Share with facebook.
Dean rated it really liked it Apr 05, Karen added it Jul 02, Geoff Woodland added it Jun 20, BookDB marked it as to-read Sep 19, Laird added it Jan 02, Donna is currently reading it May 04, Russ O'connell added it Jul 15, Dan Mastous marked it as to-read Dec 10, Ashley Brewerton marked it as to-read Apr 28, Jean added it Jul 14, Raza Ali marked it as to-read Oct 12, Mohamed marked it as to-read Feb 27, Tammy Vickers marked it as to-read Apr 28, Gerwin marked it as to-read Jul 22, Martin marked it as to-read Oct 13, Karen Kirby added it Dec 29, Cindy Kingman added it Jan 25, Ian Donnelly marked it as to-read Jan 27, Melanie marked it as to-read Feb 13, Chris marked it as to-read May 30, Aydan marked it as to-read Jun 18, Juxin Chan marked it as to-read Jul 10, Jayesh Shah marked it as to-read Aug 27, Dovidl marked it as to-read Sep 17, Ashley Harris marked it as to-read Oct 22, Arin marked it as to-read Nov 16, Marvin Latham marked it as to-read Dec 23, About Michael M.
Michael M. Books by Michael M.
Somebody Else's Money
Trivia About Someone Else's Money. No trivia or quizzes yet. Welcome back. Just a moment while we sign you in to your Goodreads account. On top of that, merely accepting capital from others can put YOU on the hook for ensuring compliance with both state and federal securities laws if you are not careful and understand the requirements.
So don't give away your hard-earned profits so easily. Erin Caldwell - I recently had a similar discussion about this. My vision of what success looks like and my goals are not necessarily how others see opportunities. And what may seem silly to you or I shouldn't be a barrier for other people to invest. Different people have different reasons to invest, different criteria they want to meet, and different goals they want to accomplish.
IDEALLY you find someone who has similar goals but what's the harm in helping your friends achieve what they consider success too?
To answer your question, you create partnerships that make it work for both of you. Most capital investors have an idea of what they want to see for projected returns for CoC and annualized IRR. Figuring out that part of the deal is the art to "No money down".
You can use OPM to purchase and they give you a mortgage, or you can take their money as an equity partner. I prefer using their money without the partnership arrangement. If I lose money, they still get paid. How many marriages fail? Those are partnerships that didn't work out. Same thing with RE. So, to answer your question, OPM has worked very well for me. It has allowed me to obtain several properties I didn't have all the cash to acquire. They love the interest. They are very happy because I pay them on time every month. I appreciate them giving me the opportunity to acquire more properties.
Managing Someone Else's Money
Erin Caldwell as others have said it depends what both your and the potential investors goals are. I am in a very similar situation right now. I would do all the acquisition, purchase, management etc I would be getting a return equal in dollars to them even though I had no dollars into it.
We see it as a win-win. John Thedford what is the typical interest and term for that?