Will a wireless network extender / access point extend multiple wireless networks?

I have a wireless network and so does my neighbor we both have our networks secured. We decided to let each other go on the others network, the reason we did it is because we are using his network for downloading and mine for just internet so the internet is fast. When i look at available networks there are many unsecured networks if i bought a wireless network extender / access point would it extend all the networks?

Will a wireless network extender / access point extend multiple wireless networks?
No, you configure the extender to repeat one signal from a specified Access Point. It then creates a new SSID to connect to.





http://www.newegg.com/Product/Product.as...