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Ken R Fisher & Associates, Inc.

KenFisherRealtors.com

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The Investor Scam - Buyers Beware

Real estate Investment Clubs can be a benefit or a disaster to the Investor Buyer.  Sometimes, it is difficult to determine what is right and what is wrong with certain opportunities.  Surprisingly, many people just do not check out what they are doing until it is far too late! 

The Scammer sets up an Investment Club or Investment School as a brick and mortar or online or both enterprise.  They often offer opportunities in other 'potentially more profitable' cities than where the investor lives.  They then develop a network of real estate agents, a title company, a mortgage company, a remodeling company and a management company in most or all of which they have a financial interest.  They buy houses in foreclosure, rehabbed houses that won't sell, 'we buy houses' properties and the like.  Some will buy new home pre-construction properties.  The Scammer is able to convince the Investor of the fantastic opportunity and go in for the kill.  Some investors plow their own cash into the deal, some borrow on their homes to get cash, some cash in their savings and mutual fund accounts.  Most investors lose a greater part or all of their investments and just walk away rather than seek recourse.  Some 'hang in there' for a long period of time, chasing more good money after the bad, hoping and hoping that the market will turnaround' without realizing that they were scammed. 

My company offers an Investment Package to local and out of town investors seeking a way to invest in the real estate industry for fun and profit.  We will assist the Investor in locating good investments and then carry through with the steps involved to inspect it, arrange a mortgage as needed, arrange for title work and attend the closing.  We can then arrange for independent people to remodel and improve as needed.  We then provide a property management service to lease and manage the property.  We ultimately list and sell the property.  We have absolutely no financial interest, overt or covert, in the ancillary services companies.

Call your local Board of Realtors, call the BBB, call the County Tax Assessor before you make a mistake that causes your 'opportunity' to actually become the 'opportunity' for the scammer.