Real estate shell game - part 2

By
Services for Real Estate Pros with EquityScout.com

I've written a lot recently on real estaet fraud, to include posting a schematic of a popular investment collusion fraud that is plaguing many communities. 

Unfortunately there are many variations on this theme.  Here's another scheme that real estate con men are using to bilk investors:

Real Estate Fraud

Whether you're an investor or a real estate professional it pays to know the basic mechanisms of these schemes so you can identify them when they start popping up in your community.  Check out this YouTube video which profiles some victims of the scheme. 

Related posts:

 

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real estate fraud
mortgage fraud
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Rainer
34,061
John Parker
V.I.P. Independent Mortgage, Inc. - Murphy, TX
Texas Veteran Loan Officer

Great post!  I have had some of these investors call me after speaking to these "advisors"...A couple of them told me that I had no idead what I was talking about...Sometimes people want to believe it is the silver bullet to make them rich only to find in the end that they were taken for a ride.

Great post!

Oct 24, 2007 09:55 PM #1
Rainmaker
722,677
Barbara S. Duncan
RE/MAX Advantage - Searcy, AR
CRS, GRI, e-PRO, Searcy AR
I watched the video and it was very interesting.  The surprising thing is that this can happen and the people who do the scamming are still walking around free in the cities.  I always thought fraud was against the law.
Oct 24, 2007 10:02 PM #2
Rainer
69,706
Jonelle Simons
Windermere Real Estate - Park City, UT
There are so many criminals out there in this industry - no wonder the public in general thinks realtors and mortgage people are unethical.
Oct 24, 2007 10:03 PM #3
Anonymous
Anonymous
Anonymous
with so many out there, how do you identify a real, solid investment and a legitimate investment complany or firm?
Dec 14, 2007 05:12 PM #4
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Rainer
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Christopher Smith

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