Real Estate Mentor has me suspicious
I paid an experienced Real Estate investor to be my mentor so I can have some guidance and coaching to get in the game. I'm looking to acquire rental properties for cashflow. After a few talks I got sent 2 properties that showed they were recently sold. My mentor mentioned not to worry about them showing sold, that they knew the investor who purchased these properties and would reach out to see if they would re-sell. The next day I got a message saying the prices were negotiated and there was a deal being presented. This deal is about 40k over what they recently sold for (when I looked them up) but they ensured me that it still made sense to purchase and rent. Long story short I start some paperwork and when I get sent the contract, the seller on the document is my mentors company... When I asked about it, they said that they secured the properties under their company... Can they "secure" the properties over night and take ownership and what would be the benefit if im signing docs the next day? Or have they owned these the whole time and flipping me 2 properties for 40k profit on my first deal and just telling me its still a good deal and not being honest about ownership?
Most Popular Reply
@Joshua Melendez
Run away as fast as possible. You are getting scammed. Find a new mentor immediately
If he was going to mentor you he would not be selling you properties $40k more than purchased whether they were his or not - he should have showed you how to buy those properties at that price or similar ones
- Chris Seveney
