The Dark Side of Real Estate: Scams That Are RUINING People
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- เผยแพร่เมื่อ 14 ต.ค. 2024
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Ken and Danille McElroy discuss the most prevalent real estate scams and provide essential tips to protect yourself from falling victim. From wire fraud to fake home inspections, learn how to identify and avoid these costly traps.
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ABOUT KEN:
Ken is the author of the bestselling books The ABCs of Real Estate Investing, The Advanced Guide to Real Estate Investing, The ABCs of Property Management, and has an upcoming book: "ABCs of Buying Rental Property: How You Can Achieve Financial Freedom in Five Years." Ken is a Rich Dad Advisor.
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The Prince of Nigeria is working the email list again. That guy just never quits!
Hi Ken , the best way I know to avoid internet scam , is go to bank and pay buy cheque , especially is you are paying deposit of property purchase or only pay by cheque at real estate agent .
I am 28 years old and lost my dad about half a year ago and I am going to receive some money soon. Would it be smart to grow my money in stocks for a few years while I am in college and then invest in rental properties afterwards, or should I go for real estate investing first?
in my opinion, some financial situations can be handled on your own if you research enough, while others are best navigated in consultation with a financial specialist
Agreed, the role of advisors an only be overlooked but not denied. I was shocked that I made more money with investing than hard work, not even my CEO income. Earning ''return on investment'' fetched me millions within a space of 5 yrs.(But I still enjoy working)
@@Charlesman_T bravo! who is this professional guiding you if you dont mind me asking please? I could really use some help right now
Can't divulge much, I delegate my excesses to someone of great expertise ''Karen Lynne Chess'' preferably you can look her up on the web, her qualifications speak for itself.
@@Charlesman_T thanks for sharing, I must say Karen appears to be quite knowledgeable.. just copied and pasted her full name on the web and at once came across her consulting page, no bs!
Scams are everywhere we all need to be wise
One of my best friends got scammed for pretending her mortgage company by sending her an email to claim $50,000. This is a big red flag here.
Love the content, very helpful advice from vets to noobs. Ken mentioned that its not the state of the rental market, thats a macroscopic view that most people dont have or see.
Heard a good one, if you get an email with details for a payment, say for a big deposit, actually phone the office to talk to someone, to confirm the payment details.
Heard of someone paying a builder or a real estate agents office, however someone had intercepted, copied the email chain and input their own bank details…
Very informative- Thank you.
When you teased the guest last week, he was not who I was expecting! Really hoping I can catch a meal with him in the VIP room.
Wire fraud is definitely rampant. In Idaho, the only person with a secure email is the title and escrow company. Lenders and realtors never send out wire instructions.
Title has no firewall. They are an easy target for scammers.
Thanks for sharing your insightful guidance and wisdom. Now let's get 10 million people involved in real estate to watch this so these scams collapse!
Can you do a video on cash out refi? I know the loan proceeds are not taxable, but what about the payments? Is only the interest tax deductible? If i used the rent income to pay the payments, don’t I still pay tax on the rent? I enjoy the work you two do.
GREAT VIDEO
IN REAL ESTATE FRAUD PREVENTION
Times sure have changed. Now banks don't want you anywhere near their branches, at least not here. Small payroll expense.
to us this morning - phishing scam
Bottom line is just rent a hotel room and avoid all the scams and excess fees if it’s a legitimate air bnb.
good video Ken as always
Yes, I had a terrible inspector that I used the real estate agent recommended. I spent over $400. Getting a duplex inspected, and I paid more because it was supposed to be more of an in depth inspection, and once I got out f there I saw all kinds of things that he didn't call on. I backed out I lost about three thousand but saved me a hell of a lot in the long run, never again. So glad I didn't end up buying in Florida. Anyway?
Love the channel
Love this video. This is sadly very real.
I jus thad a bad experience on Airbnb with a listing and they did nothing. The property was completely different from what they had described and Airbnb said that they had spoken with the host and there was no basis to my claim even though I had sent them photographic and video proof of my claims. Airbnb will not protect you.
Which are the best construction lenders banks? And or hard money companies that specializes in helping small developers get started?
Oh man! I’ve trusted your advice till you mentioned RFK as a VIP guest. WTH he has to say about real investment???
When real estate investors ruin their own construction project and blames and backcharge the contractor😅
Not perfect but I always start with the BBB bureau as my start of the research in a company or contractor or anyone I do business with with
You should talk about your buddies that you promote, clayton morrisand
Matt onofrio
Yeah talk about scams. 😂 None of these people are clean. That are out to make a buck off anyone and anything even pushing people into real estate when a recession is coming
If you have issues with phishing and spam emails, I can help Ken. I work in IT space with title companies, mortgage brokers, attorneys etc Issues are huge at the moment
Criminals should be arrested, charged, prosecuted, convicted, and sentenced to life in prison.
Very good information. Thanks!
Hello. 😮
Ken need to thank you for always looking into the camera when your speaking and at the very least looking back n forth from others who are speaking then to the camera. But I just feel obligated to mention this constant occurrence from your partner there, and I'm positively sure I'm not the only one out here that finds it verrry disturbing, robbing me of my concentration and attention. She is looking at everything n everywhere other than the camera. I'm sure she's reading comments recently posted on the computer but what the heck else is she constantly looking at. As it is occurring I loose the grasp n focus of your conversation n if interesting indeed to go back n re listen. (With my eyes closed) seems like a nice young lady but would click on your programs more often n maybe won't shut it early. Ok
When real estate investors burn contractors 😅
Ken, What is your SS number.
🤣🤣🤣🤣
RFK!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Why help these investors. If they are dumb enough to fall for these types of scams, they deserve to lose their shirts. That is the free market at work
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