BiggerPockets

The two recent *threads* here on BP illustrate creative schemes I've seen touted before. One of those threads is not deleted - Thanks Joshua

On those threads all I can say is:

"A fool and his money ... were lucky to get together in the first place."

I will add this to this current thread and it is more of a request for funding than a scheme.

Someone seeks $13 million in funding for a broken condo project. He wishes to purchase several *penthouses* in a building then upgrade each unit with $150,000 of upgrades. The building is in a Private Country Club with a Private marina in Florida. He also wants to roll into the loan all points and fees PLUS 12 months of interest.
.... when pigs fly.

Bryan,
Did you mean more entertain (like scams) or further crazy real financings?

-Uwe

Thats an nice scam :cool:

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Great answer Greg!

I am thinking more along the lines of someone posting about some great real estate financing program designed to get you loads of money with minimal effort, money of your own, etc.

I haven't seen those Darryl. Most of the ones I see involve wanting fees up front to *decide* whether or not to fund the project. That is ALWAYS a red flag to me no matter how reputable the lender/financier is.

I have to hand it to you Bryan! Interesting topic...and interesting answers. :roll:
Now that banks have restricted their lending policies and tightened credit, there are many people out there offering EXTREMELY high yields. I'd say as a rule of thumb when it comes to mortgage pools that anything over a 14-16% yield is too risky. The assets in the portfolio are probably in trouble and this is obviously a warning sign.
There are good programs for the passive investor though, but the key is the relationship. That's right, the relationship that you, the investor, have with the fund manager. I know a couple of really good fund managers, and these relationships have opened new doors. My point being, "Know who is in control of your money".
The investors in the fund are currently yielding 12% annually, if compounded, or the investors can choose to be paid out quarterly. David Owen is my mentor and the fund managing partner. He and his business partner, Robert Buchanan are able to achieve such high returns for their investors because they have a highly diversified portfolio, full of trust deeds, first liens, and loans secured by real estate. They are always fully invested, and make sure of that. To get more information on these passive investment strategies that minimize some of the risks of investing in real estate and combine the benefit of a strong local market, then visit http://ATXInvestorMasterminds.com or http://UnRealMasterminds.com

I have seen what APPEAR to be some recent closeted aged LLC threads. Those have always been entertaining to me too.

Why do people always think there is a shortcut to success, good credit, etc.? I find this an interesting human phenomenon. I guess that is why people will always make money with these schemes. Appealing to people's laziness, greed, and envy of others will always be profitable I guess.