real estate scam in Detroit

5 Replies

HI,

I just read this article about a real estate scam in Detroit, Mi.  I thought I'd share it to warn anybody.  

(http://www.freep.com/story/money/business/john-gallagher/2017/10/10/detroit-federal-prison-housing-scam/730810001/)

It is sad that these issues give a bad impression on honest investors.

real estate scams are very common and have be going on for years Straw buyers, crooked appraisers , ponzi schemes you name it it has been done Rule of thumb if something sounds too good it usually is Be on your guard investigate ,check references etc  Whenever there is large sums of money involved there is a scam to separate people from their money

Yeah, the air here is alot cleaner now in my opinion. I've been dealing with out of state and over sea investor, hadnling acquisitions and asset management for them. SO far so good

Damn! Giving a bad name to my native home. We'll come out stronger!

Right Shawn.  We always do. (It is my home town as well.)

Thanks for the article.  I read it and will ensure I do my due diligence to not get ripped off.  I still believe in Detroit though.  I hope that the resurgence of downtown Detroit will begin to creep out into the residential areas that surround downtown.

-- Lisa

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