Hi, are these companies for real? they say they bulk buy new properties at discount and can pass on 15% discount to the invester (you) ..eg www.invest2let.com...do you think this is for real? surely you don't get jsomething for nothing? is it a good idea?
2006-06-20 08:25:58 · 1 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Take a look at the recent Readers Digest. They report on scammers who buy property real cheap from people in financial trouble. They told of this one family who was in danger of foreclosure and these "really nice people" had them sign a bunch of refinance papers with blanks on the form ("we'll fill them in for you later"). Even though they had a bunch of money in equity it turns out that they sold out their house. The scammers then sold it to someone else as rental property, who then evicted them because the scammers failed to tell them that they were now supposed to pay rent to the new owner--naturally, not knowing, they hadn't paid rent. Then the "nice people" were gone, with the profits. I wouldn't touch that "opportunity" at all.
2006-06-20 08:31:47 · answer #1 · answered by Rabbit 7 · 0⤊ 0⤋