Real Estate Investment for beginners:
Are you a beginner thinking about investing your money in real estate? If yes, you can start investing in co-wholesaling real estate. Zack Childress co-wholesaling real estate investing system is the quickest and the easiest way to follow. Zack was working as a business developer in Landmark Property Investment Inc. After gaining experience, he realized to start his own business wherein he can earn good amount of money. He started his business as a real estate investor and CFL broker which is running for thirteen years. He is also the proprietor or director of REI success academy and has introduced co-wholesaling real estate investing system.
Real Estate Scam
- What to do if I scammed in real estate
There are lots of frauds in this field and one needs to be very careful and alert while giving the property papers at the time of selling it. There are many ways to scam but we will be talking about some of the common real estate scams.
- Online Rental Scams
The buyers and the renters search for the real estate from different sources. Online search is the most common thing in today’s world. When the scammers get the original listing, they repost the listing by presenting it to the people as their own property on some other site with a misleading price tag. The sellers are denied for the payment when they ask for it. To avoid this you need to find out about the person from sources like Federal Trade Commission’s advice and take the references from that person before the deal.
- Beware of title frauds
This type of scam is not so common but when it takes place, it is the most dangerous real estate scam as there is every possibility in which the false owner misuses your identity. In this type of scam, the person or the party goes in for a secured loan & takes the cash, leaving the real owner to repay them. For your protection from this scam, there are two best ways to do so.
Purchase title insurance – provides financial protection from the person who falsely impersonates you & tampers with your legal documents. Apart from this, you need to guard your personal information.
Avoid carrying important documents like passport, social security numbers, credit cards etc when it is not needed.
- Avoid Loan Modification
If an agency makes an unsolicited calls and offers upfront fees refinancing options, beware of them though it seems to be good. These agencies target the house owners who are facing foreclosure or very soon to face it. These companies come to you when you are in a vulnerable situation. Most of them are fake lenders who offer foreclosure options like reduced mortgage payment to access your bank account. To avoid this situation, watch out whether:
- They are requesting for the advance fee
- Advising you to redirect the payment to the lenders agency that does not belong to the mortgage company.
- Guarantees you protection from the foreclosure and asks for your bank information
- Avoid taking the house on rent which is under foreclosure
The homeowners who approach you for renting their houses to you may be in dire situations that need finance in the form of advance and monthly rent to pay off their debts. When the foreclosure date is nearing, the tenants are asked to relocate which will be a disadvantage to them as they lose their shelter and the money they have already paid. The solution to avoid this situation is to check their background before going for it through sources like online databases and County Recorder. If you find the default notice or trustee sale notice filed, look for the house elsewhere.
If you have become a victim to these scams, there is nothing much you can do except to file a case on them with the necessary real estate documents you possess like sale deed, insurance etc. However, when you take a house on rent, you can show the rental agreement as evidence.
- Zack Childress Characteristics
He is a well-known real estate investor and has earned millions of dollars in real estate field within a short span of time. His hard work and perseverance is the secret of his success. His articles and reviews are useful for everyone, especially for the beginners. However, his theory works out only when you invest your time & put efforts in the areas it is worth although there are negative reviews about it.