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Real estate shell game - part 2

I've written a lot recently on real estaet fraud, to include posting a schematic of a popular investment collusion fraud that is plaguing many communities.

Unfortunately there are many variations on this theme. Here's another scheme that real estate con men are using to bilk investors:

Whether you're an investor or a real estate professional it pays to know the basic mechanisms of these schemes so you can identify them when they start popping up in your community. Check out this YouTube video which profiles some victims of the scheme.

Posted by Christopher Smith on 10/24/2007 09:49 PM

Comments (4)

real estate fraud, mortgage fraud, investing

4 Comments on Real estate shell game - part 2

OCT

2007

Great post! I have had some of these investors call me after speaking to these "advisors"...A couple of them told me that I had no idead what I was talking about...Sometimes people want to believe it is the silver bullet to make them rich only to find in the end that they were taken for a ride.

Great post!

I watched the video and it was very interesting. The surprising thing is that this can happen and the people who do the scamming are still walking around free in the cities. I always thought fraud was against the law.

There are so many criminals out there in this industry - no wonder the public in general thinks realtors and mortgage people are unethical.

DEC

2007

with so many out there, how do you identify a real, solid investment and a legitimate investment complany or firm?

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