Real estate scam question. Need help.

[Ike Dandy]

A friend of mine got scamed by some cats on sum property.Not really scamed but doublecrossed.He got talked into letting these guys boost his credit by faking bank deposits and history, made fake check stubs for him to get these loans for these 2 houses. now this cat had a 620 credit rating and they got him approved for 2 $200,000+ homes in the atl area( downtown) a couple weeks apart. now here's the "crime", the homes were going for 190,000 and 194,000 but these guys got the houses appraised for around 250,00 each. Insted of getting the loan to buy for 190,000 ect, they get the loan for the 250,000 and are suppose to split the cash. We'll you know the rest they got him for the cash. gave him a lil chump change and are now giving him run around. this has been going on for a few months and now this fool is so stressed because the notes on them shits are so high he cant pay em. He just wants the property out of his name.he has found out that he's not the only one who has had this flim flam ran on them. Real estate floks what would be his best advice? i told him that those same two houses he has ,they prob slod those 2 shits about 50 times already. Thanks for any advise

 

[Temujin]

Wow. Your friend has fucked up. There is not a lot he can do legally without implicating himself in a fraud conspiracy.

He can't go to the authorities without going to jail and having to pay restitution. If he defaults on the mortgages his credit is fucked for years for nothing. He can try to rent the houses out but considering he overpaid for the houses by 30% I doubt he will be able to cover the mortgage with rent.

To bad he didn't realize this earlier in most states you have three days to rescind a real estate purchase. Your friend should have rescinded when he didn't get the money in three days.

There isn't much advise to give your friend other then don't get involved in real estate fraud conspiracies.

 

[rawlo5660]

This is a classic con. I do not know if you know how cons work but chances are the houses are not really for sale. There was once one con man that sold a very famous landmark(I forgot which one) for hundreds of thousands. The brush off, slip, or other con terms describe a way to stick the mark (your friend) with some sort of liability so that he does not go after them. The key is to make the mark believe that he can not go to the police or any type of law inforcement agency for fear that he will implicate himself. They may even have a tail on him right now to see what he does. How did they first interact with him? They may or may not be a professional con team but cons generally follow the same patterns.

1. One first spots someone that is greedy(as the term goes you can not fleece an honest man). A team generally consists of a pointmant, shill, and the inside man.
2. Have a place(usually called the store) that acts as an attractive place of business that lures the mark in.
3. Do the mark a favor or in your friends case, fix his credit. Chances are his credit is still messed up. That is if the con team is really good as to make the mark believe that his credit has been fixed, usually by forging fake documents. If the team is really good then your friends credit is fixed because they have made so much money from fleecing others that they can pay a person(an assist) to easily fix your credit
4. The con team make the mark believe they have an unbelievable deal(Housing Property).
5. Fleece the mark, set him up for the fall, make sure that he will most likely not go to the cops and then split.

Your friend has to alert the authorities now and I mean now or he wants to see any of the cash. Sounds like they are amateurs though, so catching them will probably not be hard. Probably similiar to people who sell laptop boxes full of bricks.

P.S. Most con men work in a pattern Atlanta here, Alabama there, you get the picture. Sometimes you can catch a bad con man by setting yourself up to be a mark and letting the word out that you are someone greedy, looking for a deal. You have to be pretty good though because good con men have a strong radar when it comes to the con game.

 

[Temujin]

This is a classic con. I do not know if you know how cons work but chances are the houses are not really for sale. There was once one con man that sold a very famous landmark(I forgot which one) for hundreds of thousands. The brush off, slip, or other con terms describe a way to stick the mark (your friend) with some sort of liability so that he does not go after them. The key is to make the mark believe that he can not go to the police or any type of law inforcement agency for fear that he will implicate himself. They may even have a tail on him right now to see what he does. How did they first interact with him? They may or may not be a professional con team but cons generally follow the same patterns.

1. One first spots someone that is greedy(as the term goes you can not fleece an honest man). A team generally consists of a pointmant, shill, and the inside man.
2. Have a place(usually called the store) that acts as an attractive place of business that lures the mark in.
3. Do the mark a favor or in your friends case, fix his credit. Chances are his credit is still messed up. That is if the con team is really good as to make the mark believe that his credit has been fixed, usually by forging fake documents. If the team is really good then your friends credit is fixed because they have made so much money from fleecing others that they can pay a person(an assist) to easily fix your credit
4. The con team make the mark believe they have an unbelievable deal(Housing Property).
5. Fleece the mark, set him up for the fall, make sure that he will most likely not go to the cops and then split.

Your friend has to alert the authorities now and I mean now or he wants to see any of the cash. Sounds like they are amateurs though, so catching them will probably not be hard. Probably similiar to people who sell laptop boxes full of bricks.

P.S. Most con men work in a pattern Atlanta here, Alabama there, you get the picture. Sometimes you can catch a bad con man by setting yourself up to be mark and letting the word out that you are someone greedy, looking for a deal. You have to be pretty good though because good con men have a strong radar when it comes to the con game.

One thing you missed in this was the fleece. The con men didn't get the money from his friend they got it from the mortgage company that lent the money. There is no way they got the mortgage company to fork over half a million dollars unless deeds were actually filed.

I think this transaction was actually completed. The mortgage broker, the appraiser and the closing attorney or seller were involved. The mortgage broker doctored the information to send to the lender, he got a fraudulent appraisal got approved had the closing attorney make two sets of closing documents one to give to the mortgage company and one to the seller. The one to the seller has a price of 190k the one to the mortgage company has 250k. When the mortgage company pays the 250k it is put into escrow buy the closing attorney he is supposed to give the seller his money, take the closing fees and record the deed. In most cases the buyer is in on it and is willing to take the money over the credit hit (since his credit was probably fucked up in the beginning anyway) for defaulting on the loan.


The real victim is the mortgage company his friend is just a co-conspirator that got fucked by his partners. Going to the authorities would be sending his friend to jail. So if he is going to the authorities he should get a lawyer first and clear his schedule for the next 36 months. O and he will still have to pay the mortgage companies back.

 

[cranrab]

i don't have much to add to this except 2 observations.

all co-conspiracists are looking at federal beefs, for taking out the loans (if we can agree that the loans were real)

the "con men" double dipped. that is, not only did they make the money off the overstated purchase price of the homes, but they also presumably made additional gain from the commission "earned" on the sale of the property.

the "friend" needs to contact an attorney quickly. perhaps a couple of them. regarding the contracts, aren't they voidable since there was no legal object?

 

[deputy dawg]

Time to blow the whistle on the con men, lawyers, lender, EVERYBODY!
(let the law find 'em if he doesn't know where they are)

That ass needs to start whistling

and sing like a bird to the state consumer protection.

Going to the law first may get him out of doing time.

 

[afroyale]

Let me repeat this -- Don't buy residential real estate from now until 2008. The market is (and has been) full of scam artists since 2001.

How can a house built for about $200K in 2002, appreciate to $450K in 2005? The only reason that could have happened would be due to media hype, hype and more hype.... fuk dat! Every mufucka thinks they gotta rush and get a piece of the pie before it all runs out.

 

[Dwayne Wayne]

Man my sister got involved in a scam like this in Illinois. She was hanging with Some B list x NBA players and their friends and they told her it was a quick way to make a $1500. To make a long story short She is on the hook for $300K and they bought new Range Rovers. My parents went wild when the sheriff served her at their home. Lawyers said no crime was committed and they forclosed on her.

 

[Ike Dandy]

Thanks for all the feedback. I told my patna lets take it to the streets. One of the cats is a decon in a church.These cats got him for like 100g+ damn near plus got his shit fucked up. It was a scam ,this chick he know put him in contact with these cats.I told him he can't just let these fuckers just get him.Shiiiit if it was me , nuff trigga play woulda been involved! Thanks for all the feedback once again folk.

 

[deputy dawg]

Let me repeat this -- Don't buy residential real estate from now until 2008.

extremist P.O.V. ...

He means don't pay too much-
for car insurance or real estate.
Know how much property is really worth before putting your money down. Don't rely on somebody else's reasearch.

Everybody repeat after me: "Buy Low - Sell High."

Question: for the greedy folks who got scammed, what was their exit strategy? I mean some dudes come to you with an idea that appeals to your greedy side; what do you see as your way out and get your profits? If it isn't clear to you, or you aren't included in the plan the originators have, DON'T YOU DO IT!!

 

[Real1]

Man my sister got involved in a scam like this in Illinois. She was hanging with Some B list x NBA players and their friends and they told her it was a quick way to make a $1500. To make a long story short She is on the hook for $300K and they bought new Range Rovers. My parents went wild when the sheriff served her at their home. Lawyers said no crime was committed and they forclosed on her.

Damn....back in 2000 I "invested" in a pryamid scam that was supposed to Real Estate Related. I put in about $8,000 and was supposed to get back $16,000. The payment date came and dude was making excuses. Long story short........I had to visit his house on Christmas Day (about 2 weeks after I was supposed to get paid)......mysteriously I got paid in full plus an additional $2,500 for the hassle 2 days later.

Motherfuckers will step over you to get what the fuck they want. They will rob 6 poor people of $10,000 each to get a damn Range Rover!

 

[Lick]

A friend of mine got scamed by some cats on sum property.Not really scamed but doublecrossed.He got talked into letting these guys boost his credit by faking bank deposits and history, made fake check stubs for him to get these loans for these 2 houses. now this cat had a 620 credit rating and they got him approved for 2 $200,000+ homes in the atl area( downtown) a couple weeks apart. now here's the "crime", the homes were going for 190,000 and 194,000 but these guys got the houses appraised for around 250,00 each. Insted of getting the loan to buy for 190,000 ect, they get the loan for the 250,000 and are suppose to split the cash. We'll you know the rest they got him for the cash. gave him a lil chump change and are now giving him run around. this has been going on for a few months and now this fool is so stressed because the notes on them shits are so high he cant pay em. He just wants the property out of his name.he has found out that he's not the only one who has had this flim flam ran on them. Real estate floks what would be his best advice? i told him that those same two houses he has ,they prob slod those 2 shits about 50 times already. Thanks for any advise

This is not passing the “Laugh test”! First, the FICO at 620 is just on the edge of prime/sub prime loans. Sound like his are LIBOR… Not good for long term.
You said this took place in ATL,GA? A lot of Real Estate loan fraud down that way… I always run into issues when I need an Appraiser for GA.
He needs to see an Attorney ether way.
If he wants to sell them I may be able to help. I know people there that can look at the homes for me, send pics and shit…
Yell@me

 

[Lick]

Let me repeat this -- Don't buy residential real estate from now until 2008. The market is (and has been) full of scam artists since 2001.
How an a house built for about $200K in 2002, appreciate to $450K in 2005? The only reason that could have happened would be due to media hype, hype and more hype.... fuk dat! Every mufucka thinks they gotta rush and get a piece of the pie before it all runs out.

Yo Dawg!
I know you are stuck on your thoughts. However, based on your name here I will say this respectfully… It is not the same though out this Country. Some States Real Estate is higher whereas some are much lower and no difference with Cities. Supply and demand has a lot to do with this like anything else. Developments are taking place all over this Country in many ways. Here is Los Angeles there is a housing shortage like other large Cities in the US. The prices are high and rents are up as well.
So a blanket statement don’t buy Real Estate or they are all scammers is wrong and you know this Bruh. That is like saying everyone at Yale is like G. W. Bush.
Man, I’m all for you coming on with an opinion that may or may not be in line with anyone. But damn Dawg… Let’s get real here and be apart of us sharing information, learning shit, Brothers helping Brothers and moving up financially.
We can get on this MOFO to check out some pussy and figure another income stream. From being on this part of the board, I have networked with some Dawgs and some we are doing business and some not. It's like that.
I have made up my mind that I will not be apart of the BS that we see on the mother. Don't have the time for that shit. Call me what you want I don't give a fuck and some bruhs here have done just that. But at the end of the day if I do not accomplish my goals I have to answer to me with no one to blame but me.
I am going after WEALTH! I will listen to anyone else on the same journey that is willing to share the information!
So what up Dawg? Let’s make some paper and make that paper make paper… That is where I am.

As always, stay up Dawg!

 

[afroyale]

Yo Dawg!
I know you are stuck on your thoughts. However, based on your name here I will say this respectfully… It is not the same though out this Country. Some States Real Estate is higher whereas some are much lower and no difference with Cities. Supply and demand has a lot to do with this like anything else. Developments are taking place all over this Country in many ways. Here is Los Angeles there is a housing shortage like other large Cities in the US. The prices are high and rents are up as well.
So a blanket statement don’t buy Real Estate or they are all scammers is wrong and you know this Bruh. That is like saying everyone at Yale is like G. W. Bush.
Man, I’m all for you coming on with an opinion that may or may not be in line with anyone. But damn Dawg… Let’s get real here and be apart of us sharing information, learning shit, Brothers helping Brothers and moving up financially.
We can get on this MOFO to check out some pussy and figure another income stream. From being on this part of the board, I have networked with some Dawgs and some we are doing business and some not. It's like that.
I have made up my mind that I will not be apart of the BS that we see on the mother. Don't have the time for that shit. Call me what you want I don't give a fuck and some bruhs here have done just that. But at the end of the day if I do not accomplish my goals I have to answer to me with no one to blame but me.
I am going after WEALTH! I will listen to anyone else on the same journey that is willing to share the information!
So what up Dawg? Let’s make some paper and make that paper make paper… That is where I am.

As always, stay up Dawg!

STFU! Who is gonna buy all those overpriced POS? The whole nation is in a real estate bubble and you're still in denial.

DO YOU UNDERSTAND WHAT THAT MEANS?... OR THE WORDS THAT ARE COMING OUT OF MY MOUTH?

The hardest hit are the western states (California, Arizona etc). Go ahead fool, hold on to your "investment" properties, then come back next year to BGOL and talk trash.

The number of houses for sale (doesn't even include For Sale By Owners -FSOB) on Zip Realty is close to 1 Million nationwide! (http://www.ziprealty.com/maps/index...8&pageLink=/buy_a_home/search/form/cityG.jsp?).
There has NEVER been a time in US history that we've had so many houses on the market. You best believe, this shit is gonna get ugly.


I suspect you didn't even complete high school to understand economic fundamentals. If more houses are being built, but very few people are buying, then prices will eventually fall. Kinda like what Walmart does when it wants to get rid of merchandise that are not selling.

 

[Lick]

STFU! Who is gonna buy all those overpriced POS? The whole nation is in a real estate bubble and you're still in denial.

DO YOU UNDERSTAND WHAT THAT MEANS?... OR THE WORDS THAT ARE COMING OUT OF MY MOUTH?

The hardest hit are the western states (California, Arizona etc). Go ahead fool, hold on to your "investment" properties, then come back next year to BGOL and talk trash.

The number of houses for sale (doesn't even include For Sale By Owners -FSOB) on Zip Realty is close to 1 Million nationwide! (http://www.ziprealty.com/maps/index...8&pageLink=/buy_a_home/search/form/cityG.jsp?).
There has NEVER been a time in US history that we've had so many houses on the market. You best believe, this shit is gonna get ugly.


I suspect you didn't even complete high school to understand economic fundamentals. If more houses are being built, but very few people are buying, then prices will eventually fall. Kinda like what Walmart does when it wants to get rid of merchandise that are not selling.

Well, we do disagree. I believe it is you my brother that is in denial. Since you are the one that is so educated, wouldn’t you think as a businessman that I would get the facts before doing or making a deal?
We don’t know the facts… Only what was posted and have no idea to the facts.
So you believe the hardest hit will be the western states (California, Arizona etc). Please explain… You did not make a point on that last comment.
“The number of houses for sale (doesn't even include For Sale By Owners -FSOB) on Zip Realty is close to 1 Million nationwide!”
Bruh, I don’t know where you live on this Earth. However, I am in Los Angeles, known as "L.A." or the "City of Angels", is the largest damn City in the State of California and the second-largest in the United States, as well as one of the world's major global cities. California is the 5th largest economy in the DAMN WORLD. The DAMN population is over 3.9 million within 498 square miles. It is the core cultural and economic center of the Greater Los Angeles metropolitan area, a region home to over 17 million people. So for a million people to be selling their home on their own to save on the commissions is a very small damn number… When you think about it… You did think about that… Right?
“I suspect you didn't even complete high school to understand economic fundamentals. If more houses are being built, but very few people are buying, then prices will eventually fall.”
LOL… I have to laugh because I am an alumni of the LAUSD (Los Angeles Unified School District) and as you (the educated one) may know that it is one of the worst ones in our Country. Yet, I did graduate, played the solo at the ceremony and did Tulsa University for two years.
But so what… Let’s say that I am a drop out for the sake of argument. My net worth is WELL over 5 million… What is yours?
Man… I do wish you well… Now can we agree and or disagree like MEN… No better yet, LIKE BLACK MEN????
Stay up!

 

[SpiritualPorn]

This thread is a good example of negative thinking.

Back in 98,99 the prime was about 8 and a half. Subprime loans were 12-14%. Homes sitting on the market just like now.

I did about 6 loans for one guy at the time.

When the boom happened, those same six houses that he struggled with at 12% brought him net 1.3 million dollars through refi alone.

One mans trash is another mans treasure.

If some say it is bad, that is good......more deals for me.

Most of those who speak negatively are not in business for themselves and are regurgitating the IMF controlled press preconditioning.

The reports are skewed....record growth will result in the same type of decline. The cycle will be shorter.

In addition with the amount of immigration going on and the plan for the Amercian Union there are plenty of new buyers that have not even been tapped yet. Lenders are developing programs now specifically for this market.

Here in Florida, homes were appreciating at 25-35% a year!!! That is too much...this decline is simply an expected adjustment...no gloom and doom here...except for those that shy away from challanges.

 

[SpiritualPorn]

A friend of mine got scamed by some cats on sum property.Not really scamed but doublecrossed.He got talked into letting these guys boost his credit by faking bank deposits and history, made fake check stubs for him to get these loans for these 2 houses. now this cat had a 620 credit rating and they got him approved for 2 $200,000+ homes in the atl area( downtown) a couple weeks apart. now here's the "crime", the homes were going for 190,000 and 194,000 but these guys got the houses appraised for around 250,00 each. Insted of getting the loan to buy for 190,000 ect, they get the loan for the 250,000 and are suppose to split the cash. We'll you know the rest they got him for the cash. gave him a lil chump change and are now giving him run around. this has been going on for a few months and now this fool is so stressed because the notes on them shits are so high he cant pay em. He just wants the property out of his name.he has found out that he's not the only one who has had this flim flam ran on them. Real estate floks what would be his best advice? i told him that those same two houses he has ,they prob slod those 2 shits about 50 times already. Thanks for any advise

I read this for two months and did not reply. I thought I might know this guy.

I had a Pastor as a business partner. The most crooked MF I have ever dealt with ...ON THE REAL.

I got into a fist fight with that bitch too.

He did the exact same thing as what happened to your friend. He went one step further though. He would actually use stolen ID's to buy houses. He was a funeral director and would sometimes use dead people to buy houses. He would always find out which property is up for sale at the familys moments of grief.


In your friends case there really wasnt enough money to go around. This is a payola business. The title company doing the funding must get at least 5000.00. There are taxes and insurance due at the time of closing also. All three parties involved must get paid, the mtg broker, the person who set up the deal and the actual buyer. From the probably 60,000.00 dollars quickly turned into about 30,000.00 to split once everything is paid.

The good news is your friend got two houses with no money down. He was not a homeowner before, he is now 500,000.00 in gross worth richer.

He needs to find renters even at a loss and hold on to the properties for at least two years. This requires a long term stratgey......

A person can use the situation to their advantage if they so choose. Everyone was in on the game so he really can't be upset. Dishonest people play each other .

 

[Lick]

I read this for two months and did not reply. I thought I might know this guy.

I had a Pastor as a business partner. The most crooked MF I have ever dealt with ...ON THE REAL.

I got into a fist fight with that bitch too.

He did the exact same thing as what happened to your friend. He went one step further though. He would actually use stolen ID's to buy houses. He was a funeral director and would sometimes use dead people to buy houses. He would always find out which property is up for sale at the familys moments of grief.


In your friends case there really wasnt enough money to go around. This is a payola business. The title company doing the funding must get at least 5000.00. There are taxes and insurance due at the time of closing also. All three parties involved must get paid, the mtg broker, the person who set up the deal and the actual buyer. From the probably 60,000.00 dollars quickly turned into about 30,000.00 to split once everything is paid.

The good news is your friend got two houses with no money down. He was not a homeowner before, he is now 500,000.00 in gross worth richer.

He needs to find renters even at a loss and hold on to the properties for at least two years. This requires a long term stratgey......

A person can use the situation to their advantage if they so choose. Everyone was in on the game so he really can't be upset. Dishonest people play each other .

Brother “SpiritualPorn”…
It is refreshing to hear an optimistic view on the board other than my own. Everything has it’s cycle and Real Estate is no different. You made a very good point about the other market. Here in CA Wells Fargo all ready have a program where they are making Real Estate loans to undocumented workers and B of A is working on one as well.
As for this post… I ain’t heard nothing from dawg! So it is like you said… All parties knew it was a scam and at the end the paper got short!.
Stay up Dawg!

 

[deputy dawg]

Brother “SpiritualPorn”…
It is refreshing to hear an optimistic view on the board other than my own. Everything has it’s cycle and Real Estate is no different. You made a very good point about the other market. Here in CA Wells Fargo all ready have a program where they are making Real Estate loans to undocumented workers and B of A is working on one as well.

That's what I'm talking about - not everyone who wants a house has one already; be they long time renters moving up or those new to the U.S. with $$ to spend.

As for this post… I ain’t heard nothing from dawg! So it is like you said… All parties knew it was a scam and at the end the paper got short!.
Stay up Dawg!

still here...
Once repairs went past 6 mos. we went to Plan B. We're gonna hold to do a 1031 Exchange and use the property to show new investors the process. There's $$ in teaching others

I'm putting together a gallery of pics that I'll upload soon...

 

[SpiritualPorn]

Brother “SpiritualPorn”…
It is refreshing to hear an optimistic view on the board other than my own. Everything has it’s cycle and Real Estate is no different. You made a very good point about the other market. Here in CA Wells Fargo all ready have a program where they are making Real Estate loans to undocumented workers and B of A is working on one as well.
As for this post… I ain’t heard nothing from dawg! So it is like you said… All parties knew it was a scam and at the end the paper got short!.
Stay up Dawg!

Thanks

I read your posts. Bought some MSFT on the strength of one of them.

I'm working now to be more liquid to take advantage of the next cycle.

 

[Lick]

Thanks

I read your posts. Bought some MSFT on the strength of one of them.

I'm working now to be more liquid to take advantage of the next cycle.

Right on Dawg! Ya know it is coming! Doing the same on my end. I will close escrow on some land in Tehachapi, CA off of Gay Avenue and thinking about a deal in Little Rock, CA... Not buying SFD any longer. Land or units is the only thing I'm looking at now.
Stay up!

 

[Lick]

That's what I'm talking about - not everyone who wants a house has one already; be they long time renters moving up or those new to the U.S. with $$ to spend.



still here...
Once repairs went past 6 mos. we went to Plan B. We're gonna hold to do a 1031 Exchange and use the property to show new investors the process. There's $$ in teaching others

I'm putting together a gallery of pics that I'll upload soon...

Good to hear you are still in the game Dawg! I listen to the Dawgs that are in the game working it ya know! I mean ya don’t ask a loser digging in the trash for your cans “How to become a millionaire” now do you???
Catz like Donald Trump, Robert Kiyosaki & Douglas R. Andrew are players in the game with Real Estate & Companies. Say what you will about them but they are doing it and doing it very well.
Don’t ever quit Dawg!

 

[samh32]

I would highly recommned that anyone thinking about real estate as an investment option, spend a little time on MSN.com real estate link. Valuable information available along with a very helpful forum on the ins and outs of good investment strategies.

 

[Lick]

I would highly recommned that anyone thinking about real estate as an investment option, spend a little time on MSN.com real estate link. Valuable information available along with a very helpful forum on the ins and outs of good investment strategies.

Thanks! If they are talking like Trump, then I'm there. It is the wealthy MOFO that has my ear!
Thanks and stay up!

 

[RiverCity]

if the mortgage company will approve the contract, you can do a
short sale. you can sell for less than you owe. there should be
mortgage protection insurance to cover the difference. you may
get a mark on your credit but you can reduce liability

 

[Lick]

if the mortgage company will approve the contract, you can do a
short sale. you can sell for less than you owe. there should be
mortgage protection insurance to cover the difference. you may
get a mark on your credit but you can reduce liability

Man is this the STYXX from back in da day????? HOLLAR@ ya doc when ya get a chance!
Stay up!

 

[Pharaoh]

I think it's funny folks give Afroyale a hard time. But it's all good. I remember when folks here told me I was an idiot for having a safe full of money and for buying land. Other day I saw a post about, you guessed it, buying land and a sig with cash in what could have been a safe or container.... very interesting this board.

Here's what the pro real-estaters aren't saying, which is why I always caution cats who're new to realestate "investing" - would you sell bulk air conditioners in Alaska or the North Pole? Absolutely not. So it's not that the market is still ok or good or you can always make money, it's who you are and whether you are in a location which, by whatever reason (jobs, government, builders, etc.), you have qualified buyers and a good product.

Having said that, if you generalize your profitability based on industry alone or a couple of weak facts, then you have done the newbie a disservice. If you instead say, "I'm doing well in Real Estate because I'm a bad muthafucka and if I weren't selling RE, I'd be doing the same with something else" then you've got something that the average guy could latch onto and work with.

It takes a lot of money to play this game the right way - just like the stock game. I remember when my boy Chase tried to convince everybody how you could make a fortune starting with a couple hundred dollars buying stocks... "don't work hard" he said - let me teach you the stock market and you'll be rich-bitch... well, I guess either he got so much money because he defied gravity, economics and the theory of relativity or it didn't really work out as planned.

Bottom line is we need to teach people how to apply good business principles in their daily life, the clients and the money will follow.

Just one man's opinion.

Peace!

P.S. - please stop looking at Trump and folks like him for justification, whatever - you have no "real" idea of how these folks got started and what they have done to maintain... only what you see on TV. If you know what I know, then you'll seek wisdom and innovation. Learn how to meditate and practice being positive.

My name is Pharaoh and I approve this message.

 

[Lick]

P.S. - please stop looking at Trump and folks like him for justification, whatever - you have no "real" idea of how these folks got started and what they have done to maintain... only what you see on TV. If you know what I know, then you'll seek wisdom and innovation. Learn how to meditate and practice being positive.

My name is Pharaoh and I approve this message.

LMBAO!
I ain't mad at ya bruh... I started with one house... If I were to do it again I would buy two, three or four units. Live in one and rent the others or go in on the units with some friends (And an written agrrement) and when the value moved up make a move to buy out the other person and get something else. I have always said I buy and hold.
I just want us all to talk about Real Estate and share the info!
Stay up!