Real estate partnerships- have you ever been involved in one? They can be a high-quality vehicle in certain situations but they can ruin you too if you go down for a real estate investing scam. Get these tips and use them and hold on to your money.
- The property’s representative is not capable to meet with you in person:
You should always be confident that you’re dealing directly with the property’s owner or a genuine representative. Landlord and seller impersonation happens more often than you would think, and even the smartest of renters and buyers have fallen victim to silver-tongued con artists like these. If they claim to work for a real estate company, call the office and double check.
- The property they show you is dissimilar than the one you saw online:
You’ve been looking around online for the ideal place for weeks, and you’ve lastly found it. But when you arrange to meet with the seller, you’re told that that particular property is not accessible. Tell them you aren’t interested and start your search over.
- They’re asking for money early on:
Never hand over your hard-earned money before you’ve verified that you are dealing with a legitimate representative, you’ve seen the possessions itself, and, perfectly, you’ve had a real estate attorney look over all the attendant paperwork. If they’re asking for money up front, you should be doubtful.
- They’re asking you to wire money:
If you’re being asked to wire money, especially before you’ve seen a goods in person or been able to verify the uniqueness of the landlord or seller, don’t. Odds are, the person you’re dealing with is not the actual landlord or seller and they’re trying to take down a property.
Successful investors are not scared to stand up for their interest when things seem to shift. A balanced portfolio plan will make it easier for you to mark when something does not fit your plan. Your contract addendums will help extremely. No one, even a partner should control your investments.
More Information: Jeff Adams Scam Prevention