Real Estate Investment Fraud Scheme!

1 Reply

I read this article and I thought I'd share it. 

N.J., Man Arrested In Multi-Million Dollar Real Estate Investment Fraud Scheme

Share your thoughts.

What should we do to make sure we don't become a victim.

"He told investors that he had significant past real estate experience, including a purported history of successfully buying and selling numerous bank foreclosed properties, and an MBA degree from NYU in real estate finance.He claimed that he had long standing relationships with banks that provided him with unique access to purchase foreclosed properties below market prices and, in fact, already had negotiated with the banks to purchase certain properties at agreed-upon prices that would guarantee an easy resale and profit for investors."

It sounds good right?

What can you do to make sure you're dealing with a real person? Not a fake.

I'll start off with doing a Google search of his company name. What else?

first never give someone money, only a title company when you are getting a deed or a note thats my rule. Period KISS Keep It Simple Stupid.  BTW 25% in 8 months, we all know we can get that, but why would he give up all his profits, typical greed is what drives these scams.

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here