Don’t Get Scammed
I am taking a short sale listing this week that bears a cautionary tale. It seems that this novice investor was invited to an “investing seminar.” There she met a fast-talking investor who had an offer too good to be true.
He offered to sell her one of the homes in his portfolio. He would assist her in getting a mortgage, in her name, and he would find and manage the tenant. At the end of 5 years they would sell the house and split the profits. Sounds good, right?
However, here is what he did:
- He inflated the price of the house and took this investor to the cleaners when he sold her the house.
- He put lousy tenants in the house. They wrecked it.
- He made only a couple of mortgage payments and then stopped making payments.
- He left the investor with a possible foreclosure in her future.
He still lives in the area and is now “helping” people who are facing foreclosure. So, be careful of the deals you do and who you do with with.
Please contact me, Dan Forbes, or call if you have questions about our Bradenton, Florida real estate market at 941-746-0505; toll free 877-646-8326. Visit my web site BradentonFloridaRealEstate.com
