You can be visited by the Atty General if you are cheating "vulnerable" sellers (foreclosures, handicapped, veterans, elderly and anyone else the Atty General deems vulnerable)13.

Youth lacks wisdom, direction and guidance from elders has been rejected by the inexperienced for thousands of years, it's simply a natural part of coming of age.

You do have to be conscious of that though, because people do love to talk sometimes, especially some elderly people lol.

The couple who owned it were elderly.

Case in point heres a storyIt was $200,000 house but it was grandma's house they're in their 70s and it's free and clear and they really needed updating in their kitchen and a little bit of fixtures in the bathroom they kept it in meticulous shapeIt really had a nice layout but it was kind of small you know built in the 1950s so the closet space wasn't great but they had a nice big attic and a good size garageI always try to have a fiduciary duty to the seller and help that seller get a good solutionThe house was listed with an agent and because it was needing updating it didn't sellSo I came in and talked with the sellers and basically talked about all their options we could rent it outtry listing it again at a reduced price to maybe 180 or so but still a lot of buyers don't have vision to be able to say "oh if I spend 10,0000 that it will fix the problem" they just don't have the visionBut what I need to hit home with them is if they don't fix the problem so then they need to look at another possible solution which was selling it to an investor flipperThis is not a major rehab, this is a minor rehab where in 30 days you can tear out the kitchen, put a new one in and update some bathroom fixtures for 10,000 and now you can compete with all the other $200,000 houses for saleJust for giggles I have them call "we buy houses people" and they came in and did 65% ARV minus the 10,000 and offer them 120,000 for the houseAnd I explain to them that the investors have two sets of closing costs and they have to make a profit so that's why the number so lowAnd I asked the elderly couple what if we did a joint venture and I brought my money and fixed it and then resold the property and they would make a lot more for working with meGranted because it was free and clear I bought it on a private mortgage with a joint venture agreement which basically said that they would give me a private mortgage with no payments for six months I would do the work and then I would resell it with an agent list it at 98% of comps, advertising brand-new kitchen with full one-year warrantyBottom line here it cost about 10% to sell with a sales price of 200,000 and then I use private money for the 10,000 in kitchen and then I charge the $10,000 JV fee so they netted about 170,000 on the houseHow do you like to make 10 grand ethically and honestly and help people get a good result? 

I am able to bring a wholesome feel to many elderly clients that I think they needed and appreciate that was lacking in their prior experience.

They would call me and I would go pick it up because they were elderly and could not drive.

If you can find a good tenant, like an elderly person on a fixed income, you'll get your rent like clock work and make great returns.  

The offer to purchase we just assigned and closes in two weeks has been reviewed by the sellers (an old German elderly couple who I adore), their kids, and an attorney who unfortunately knows nothing about real estate and is probably a waste of money.

They seek out vulnerable people (often elderly or uneducated) who dont understand the various ways they can sell their property.