Internet Fraud

The biggest con in real estate investing is the concept of get rich quick. No investment is going to cash out in your favor immediately. Discounts are difficult to find and take some research. Due diligence should be given to every deal and if the seller or person bird dogging the deal pressures you drop it. For the basic investor there are these options: Flips, purchases for income, purchases for holding. Flips are basically buying a distressed or undervalued property, fixing it up, and reselling it for more than you paid for it. The less real money of your own you have to invest the better and the faster you turn it around the better. Buying for income is purchasing a property for its residual income value, that is the rent you will receive from tenants. In the mean time you hope that it appreciates in value so that you build equity. Buying to hold usually means your own home(s). There is nothing mystical or magical about buying tax sale properties, or estate and REO properties. You don't need to spend a thousand dollars on some tapes or a seminar to do any of these. Properties up for taxes can be purchased, or the taxes themselves at your local country administration building and the process is free. You have nothing to lose because even if the owner redeems you get paid a big fat premium for your trouble. Beats a CD at the bank and best case scenario you win a property for pennies on the dollar with a clear title. Scam II: We will find an investor to make your deal work because you have no money. What profit motive is there in that? All the books, tapes, seminars and nonsense about the cash flow connection is just that, nonsense. Make the investment yourself or with your own pool of investors and keep expense and dilution to a minimum. Good luck and I'll be looking forward to your profiles in the Wall Street Journal next year.

Check the property by your self and take help of an agent. Most important get an title insurance to make sure that you are the only owner,