Why does Real Estate often synonymous with scams?

Why does Real Estate often synonymous with scams?

New to Real Estate · Burbank, CA · Member since 2020 · 9 posts · 2 votes

I'm a complete newbie.  I live in Los Angeles and I've realized that I'm never going to be financially free if I continue simply earning a paycheck.  I've been wanting to start in Real Estate investing yeeeeeeaaarss ago but never took the steps until now.

My goal this year is to purchase a Duplex, live in one side of it, rent the other.  This seems to me to be the best way to start my RE investing career.

This morning, Youtube fed me a video from Morris Invest. 

I watched the video, and it seemed great.  Went to the website and all seemed good.  Maybe too good? 

I decided to come here and a simple search brought up tons of info of what a scam he his and how many folks have lost everything with him.

Why is this something I am constantly encountering? 

Why is Real Estate synonymous with cheaters, scammers, schemes and crooks?  It's exhausting and terrifying.

Can someone here please point me in the direction of some real people who are actually legit and honest people who are making this happen who I can learn from?

BP definitely seems legit and real but who the heck knows? 

One other person I encountered on Youtube is Ken McElroy.  He seems honest and trust worthy.  He has a new course coming out that's $400.  Is it worth it?  Has anyone worked with him?  Is he a scammer too?  I haven't searched BP about him yet but I will as soon as I post this.

I really want to buy a duplex this year but I don't want it to destroy me in the process but I'm already encountering crooks and sharks. 

What the heck?




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  • Rental Property Investor · Member since 2018 · 207 posts · 225 votes
    5y

    If people are making great money doing something, there is someone just around the corner trying to figure out how to sell you the hype without all the work.  It's the way of the world, but good on you for wising up and finding your way here.  There are good people here, and most of what you can find in those seminars you can find here for free if you're willing to take the time to search, read and interact.  Full disclosure; I haven't taken Ken's course, but I do watch his youtube vids as well as Graham and Kevin's...tons of good info.  Spend some time digging through threads, pick up some books, join a local meetup or investor group, and find a mentor that you can actually interact with.  Best of luck!

    - jm

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