Apr 22, 2009

Real Estate Scammers hurting too

Looks like the current real estate market is having a negative effect on the no-money-down-get-rich-quick 'gurus'. What a relief.

The New York Times reports that some of the infomercials from supposed 'real estate moguls' are now off the air, as these savvy opportunists face losses in their investments. Yippee!
Even Donald Trump has led poor suckers into believing that they could get rich in real estate - in their spare time - with no cash, no credit, and no education. Every time a Trump seminar came to town, my phone would start ringing with people looking for bargain properties to scoop up and flip. I could tell within seconds that they'd been to a seminar, had no idea what they were doing and were looking to loose their shirts.
The best site to check out these huckster schemes is John Reed's Scam Detection Checklist. If you are even thinking about taking a 'real estate investment course' - read this first. Don't make the scam artists the only ones to profit in the market.
You CAN get rich in real estate and a lot of people will create a great deal of wealth by buying real estate in today's down market. But they won't do it with no money down and no risk. It requires a lot of hard work, sacrifice and knowledge.

[where: 75230]

1 comment:

CoachingByPeter said...

Buying real estate bargain properties can be a great way to make a large profit. If you take the time to do your research and select the property carefully, you can make a great deal of money.