This week, I've talked to several very knowledgeable, very savvy business women who were mortified at the scams, losses and other life challenges that they are faced with.
One friend put a considerable amount of money into a pool of investors to buy property; was promised a great return. The week, after an FBI investigation, the Realtor/Investor plead guilty to fraud. Her life savings are down the drain.
Another friend put $100k into an oil and gas venture and another $100k into real estate. Both went bust. She's in bankruptcy court now.
Yet another friend invested all her money with a financial planner. His was a mini-Madoff scam. He was paying her to bring her wealthy friends to get the great returns that he was promising (and paying). I told her it was illegal, against SEC policy to pay a non-licensed individual for her procuring clients. She told me firmly that he had been a financial planner for a long time, and I didn't know what I was talking about. He's in prison now.
It's not just women. I spoke to an investor (Male) this week who sent $50,000 to acquire a property, all cash. Again, the FBI was involved. The money was missing before the FBI shut down the office.
It's understandable why people are hesitant about trusting. Due diligence is imperative. These three women trusted others. Women are relational; if we like someone, we trust them.
What's the answer? Start small and build trust?
I asked my mentor what would protect an individual who was working with our company from these scams. His response? The customer's money is always in THEIR name, not the company's account. The property is bought in THEIR name. And they have hundreds of testimonials from happy customers.
So, I chose to hang my hat with them; I trust their integrity. If you're here in Orange County, or in La Jolla area, join us. Wednesday in OC, Thursday in La Jolla. We'll treat for dinner. Just go to www.ocreic.com and register.
The founder of this company began investing in real estate at 21 and retired at 26. Go to www.LeapToWealth.com to see his story. Join us Wednesday in OC, we'll show you a gameplan to become financially free.