FYI: Potential Investors Beware
While there are a lot of legitimate investment opportunities in the world, there are also several "opportunities" that can cost you much more than you bargain for. Our realtors have noticed lately that an old scheme is starting to pop up again. Have you seen signs while you are driving that say: Do you want to make money?, Investors needed, Make $5000 a month, and We Buy Houses? There are also radio commercials touting how to become a millionaire in real estate, how to be an investor, and how to increase your equity. A lot of these signs and ads are intended to lure people into a situation that is not only illegal, but also will result in stress and worry for the "investor".
When weeding out the "bad apple" investments, here are few things to look out for:
1. If sounds too good to be true, it is.
2. If you are being left out of the loop on the home you are buying/selling's title, then the deal is fradulant. In other words, if your name does not show up on title at some time, there is a problem.
3. You are offered money to do next to nothing.
If you are concerned about an investment you are being approached about, make sure that you speak with a real estate attorney and/or real estate agent that you trust.