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by Willard Michlin
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e then flattened with ease.
The Real Estate Fraud Articles:
These articles were published individually at different times. Here they appear all together, as parts 1, 2 and 3.
Fraud in real estate, are you being victimized? (Part I)
Rip off artists appear in all shapes and sexes. They usually are nice looking, well dressed and very smooth talkers. They, in conversation, tell you about a financial killing they made, or are in the middle of closing. Then they change the subject. A really smooth talker never asks or suggests you invest. They wait until you beg and plead with them to let you in on their great deal. At this point you are HAD. That means, " your goose is cooked and you are invited to the feast, because you are the main course." The logical question is how do you know, before you lose your money that you are going to be ripped off? The answer is independent research, and lots of it. 1) Find a friend, or a friend's friend who is an "expert" in the specific field of investment you are considering. Ask lots of questions and listen to him. Ask him or her how to make sure you are protected. In the years, 1990 to 1995, eight people I know paid the same real estate trainer over $5,000 each to show them how to buy real estate for "NO MONEY DOWN." The trainer claimed she got results. Not one of the students, all of who got to know each other, after years of trying, ever bought a property for "No Money Down."
Recently the same trainer is offering to get her students 100% financing on real estate, even with bad credit. The MARK (the name for a con artist's pigeon) thinks he is paying for an education. The education is that you are $5,000 poorer and you have the name of a loan company that will charge you 8.5% on a 1st Mtg. and 11% on a 2nd mtg. I will tell you how to find such a lender yourself and it wi |
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