How To Avoid Real Estate Scams West Bloomfield MI

1. Who is the ideal Con Artist? The most savvy of con artists are those who have already attained some level of trust in your life. People you deal with daily, even family members, prove the most successful of con artists. When we "go along with others" our brains' defense mechanisms soften, and our skepticism is reduced. Con artists use this neurological trick to get you. It is ok to place trust your friends, family, and co-workers, but be skeptical about any business pitches they may give you. Always seek the advice of two or more financial advisors or confidants before proceeding.
   
   
2. Overseas Investment and Return. Con artists who utilize this real estate scam play on a victim's deepest desire-getting something for little-an easy investment. These schemes are usually Ponzi Schemes, meaning con artists collect money from many victims, and disperse smaller amounts out to these same people from the same pool of money and claim it is "profit". In this model, investors are told to send investment checks, and they are giving small checks in return, supposedly "proving" the system works. In realty they are receiving a small chunk of change from another "investor" who has also fallen for this plot. People tend to fall for the overseas angle because it is exotic-sounding and they think they are, in some way, taking advantage of a new discovery or resource others are not aware of.
   
   
   • Defense: Ask yourself the simple question, "Is this too good to be true?" Examine the business model thoroughly to determine whether the model could actually work. If you have never invested in real estate before, it is a good idea to start local, not abroad. ...

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Author: Grace Bloodwell