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Real estate investment is a very good way to make money. The quickest and easiest way to make money is by Zack Childress’concept called co-wholesaling real estate investing system. When you surf for this information, there are many attractive offers but most of them are just too good to be true.
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Zack Childress’ Real Estate Scam Victims http://reisuccessacademy.com/
Introduction • Real estate investment is a very good way to make money. • The quickest and easiest way to make money is by Zack Childress’concept called co-wholesaling real estate investing system. • When you surf for this information, there are many attractive offers but most of them are just too good to be true. • Zack Childress cautions every real estate entrepreneurs against the scams. A fraudster has numerous ways to extract cash.
Title fraud • Though this type of fraud is rare, it is the most scary thing. It has got to do more with your identity than cash. • In this type of fraud, the fraudster acquires the secured loan in your name by forging with the documents and gets the cash, but it is the real owner who has to pay these loans. • Title fraud is common with the homes that are not mortgaged under any individual or party to get a loan.
Title fraud • Once they go with the cash, the fraudsters are likely to target those homes that are either free from the mortgage or the homeowner has redeemed their house from the mortgage company paying all the loan installments. • There are many ways to avoid this type of scam but the two suggested and the recommended ways are to take title insurance and avoid issuing vital property documents till the last stages of transferring the ownership to them.Titleinsurance protects the homeowner against this fraud.
Loan Modification • If the homeowner have mortgaged or pledged the house to the mortgage company & are struggling to repay the loans due to high interest, there is a tendency to approach the agency to help them to save their house. • This is the weakest moment for them where the agencies of the situation & exploit them. • If the lender is a fraudster, they will give foreclosure options like reduced mortgage payments to access your bank account.
Loan Modification • You need to watch out certain aspects such as advance fee, redirect the payments from the mortgage company to their agency, guarantees to save your house from foreclosure & asks for your bank account information. • To be on a safer side, consulting an advocate or financial advisor would be even better. • If you are buying the house for the first time, then you are ought to be more careful from the fraudsters.
Foreclosure or home-equity fraud • If you are short on funds, you may use the property to get some cash to cover your expenses. • Criminals approach the funds-stripped house owners and promise to consolidate the loans as he holds the title for the property. • The criminal then fails to make payments as agreed. He also keeps all the payments that are made by the client.
Foreclosure or home-equity fraud • After sometime, the criminal reportages the property and disappears with the cash. The house owner is left in debts without the property. • Be wary of agents who promise good deals in exchange for the property equity. • Leveraging properties is always very risky. • However, if you must do it, consider using a lawyer and your financial advisor.
Property investment courses and seminars • It is important that you educate yourself on real estate. However, ensure that you do the research on the suitability and the accuracy of the courses before enrolling into the programs. • Seminars where the speakers try to sell their properties are scams. Likewise, avoid workshops, which charge excessively but have no proven success against their claims.
Property investment courses and seminars • If you got to a seminar where you are forced to buy a book or a program as a requisite to earn from the information, it is likely to be fraud. Genuine courses give tons of free valuable information and only charge for the exclusive information for the attendees.
To avoid such Craigslist scams you can do the following: • You should see whether the house is being rented for a whopping price. • When the landlord says that he is unavailable to contact you in person then take extra care. • In case you get to know that the home advertised for sale also comes under the purview of listing for sale then don’t hesitate to ring to the real estate agent. By doing this the scam will be exposed in no time.
To avoid such Craigslist scams you can do the following: • The key is that since you are the seller you as well as your agent should exercise great care. • Renters seek a house, condo or apartment while scammers seek target in the name of online rental listing. • Beware of rental scams, they are everywhere! Hundred thousand renters are swindled by online rental/sales scams every year on a collective basis.
To avoid such Craigslist scams you can do the following: • Rental listing disguised as online rental/sales scams are a Scam, so be on the lookout for certain things like the landlord is overseas, communication is exclusively by email or cell phone, the house has a “For Sale” but not a “For Rent” sign, when you are conducting your rental search. Read on to know more about the red flags.
Prevention • When you are looking to rent a house, always remember to do your own research work and find out all details about the renting part because prevention is always far better than simply trying to recuperate after being deceived. • With technology getting better and better, in certain cases, you will never see your money again and finding the criminal may go in vain if you fail to take these preventative measures.
Prevention • Demand a written lease • Never deal in cash • Meet the landlord in person • Talk to the current tenants • Do your own research and find out all details • Organize an inspection for the property • Know the market rates and compare with the neighborhood value • Take the service of a licensed real estate agent
Prevention • If you have been scammed, then without any second thought file a complaint and provide the cops, as much as information as possible to help them find the deceiver. • Real estate investments are trickier and the chances for you to get deceived are higher if you are a beginner. • Sign up for Zack Childress real estate reviews to stay up to date on real estate concepts and make secure investments with the guidance of this connoisseur who will guide you every step of the way.
Conclusion • Home Improvement is an answer for that. However, when you hire someone to do the work, you need to be careful whether the contractor is genuine or whether they want to extract cash from you. • The scammers usually target the old and damaged houses. They use low quality roofing materials and cheap paint.
