Avoiding Real Estate Scams
Many people will attest to the fact that a new investor can learn a lot from a good mentor. Let me repeat that, a good mentor. Not all mentors are created equal and not all of them practice what they preach. There are many companies out there offering training and mentoring programs for new investors. If you are considering taking one of them, make sure you do your research. Failing to do so can cause you to lose thousands of dollars, and that money is much better off invested in a piece of property.Â
The key to getting off to a good start in real estate investing is finding someone who is truly successful and following their lead. If you can find a local professional that will take you under their wing, you will learn the most in the shortest amount of time. A good mentor will not simply bombard you with books and videos and then leave you on your own. If you want to make money in real estate now, you must know how, where and when to strike while the deal is hot, and this means getting out there and watching deals go down.Â
The most common place you will run across real estate scams is online at sites such as Craigslist. People from all over the globe can market on Craigslist and you will often run across scams from people located overseas. A good rule of thumb if you are just getting into real estate is to deal locally, with people you can actually meet in person. If you are looking for a mentor to get you started, you can always post an ad on your local Craigslist site and then meet with that person to go over their credentials. You will also want to find out what their charges will be and what their “training” will entail before you make a decision. Keep in mind that being prepared and practicing due diligence will get you far in this business. Â
