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The actual owner, drug cartel kingpin Martin Madrazo, convincing them to pay for the repairs.
Their conversation, however, is interupted with Jimmy phoning to say that Michael's yacht had been stolen with him in the helm.
He then moves in with his aunt Denise (presumably his grandmother's house left to both of them) and cousin Tavell Clinton and eventually the cousins became members of The Families along with most of their childhood friends. Franklin states while hanging out with Lamar that he didn't graduate high-school because he was kicked out for beating up a teacher for unspecified reasons.
At one point he began selling drugs for a local dealer named Marcus.
The two rescue Jimmy but can not recover the boat, with Michael promising to keep Franklin in mind for future "jobs".
Franklin later helps Michael destroy a stilt house in Vinewood Hills, believing it belonged to Kyle Chavis who Michael had caught cheating with his wife.
"It seems like everyone's getting rich off the stock market these days.