Updated almost 9 years ago on . Most recent reply
American Greed
After watching a numerous episodes of American Greed on CNBC, one thing that is made clear to me is people should trust but verify, verify, verify. So many of the con artists from the show have ruin lives promising questionable returns to innocent people in exchange of their hard earn money. American Greed has opened my eyes evening more and unfortunately made me more cynical of people. People ought to invest the time to find something they are interested in and find a way to make it profitable for themselves. It all starts with a having a dream, then a goal, then taking action. What are your thoughts?
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I enjoy the show. Very educational.
The one that breaks my heart is on a 1031 intermediary, who skipped town with all their clients money. In cases like this, there's no precaution anyone can take. One lady wanted to 1031 one property to another, getting ready for retirement, and now have to spend her retirement years working, with a lifetime of savings destroyed in one scoop.
I looked into using 1031 intermediaries a while back, and never realized these folks are not bonded.