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WDARROWFIEDLER. NET
BY: W DARROW FIEDLER
R E A LE S T A T E
I N V E S T M E N T
1 0 R E D F L A G SWH E N C O N S I D E R I N G A
O V E R V I E WA Q U I C K
If you are looking for real estate to invest in,then you certainly want to read this blog.Make sure to stay away from the ten biggestred flags that you can encounter whensearching for properties.
WDARROWFIELDER. NET
D E M A N D SA D E P O S I T
O N E
When you have not seen theproperty yet, do not put down adeposit. Oftentimes, scammers willpull legitimate properties fromlegitimate sites and then take downthe posting and disappear once theyget your money.
WDARROWFIELDER. NET
P R E S S U R E T O A C TI M M E D I A T E L Y
T WO
Scammers will pressure you to putmoney down and act quickly. This istypical of scammers. Doing so cancost you money and legal fees todeal with them after the fact. Go atyour own pace and make sure toconsult trusted people about yourpurchase before moving forward.
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I NSTRUCTI ONS TO NOTCONSULT OTHERS
T H R E E
Speaking more on the topicconsulting others, make sure toconsult your lawyers and lendersbefore moving forward. Discussingall investments with trustedprofessionals before moving forwardis vital to a successful purchase.
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UPFRONT FEESF O U R
Before services are actually given, nofees are allowed to be made,according to the FTC’s MortgageAssistance Relief Services Rule.
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EXTRAVAGANTGUARANTEES
F I V E
When someone guarantees thatthey can expect to make a certainROI in a certain amount of time andthat this would work for anyonebuying this property, it’s time to thinkabout another property to invest in.
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LACK OFDOCUMENTATI ON
S I X
Some scammers promisedocuments, such as titles and deeds,but they never show. Make sure toget all the documentation necessaryto make this deal go through beforetaking any steps forward.
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LOCATI ON I S I N A BADNEI GHBORHOOD
S E V E N
Many factors play into buying a home, but location isthe most important. You have probably heard thecommon phrase, “Location, location, location!” If thehome is a great place in a poor or vandalized area,proceed with caution. Stay away from slummy or rundown areas. You want to make sure a location has agreat school system and economy, as well as an activelocal police enforcement to protect the citizens.
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BUSI NESSES ARECLOSI NG
E I G H T
If you are looking to invest in an areathat has businesses closing, beware.You want to invest in an area that hasa great economy and demand forresidents. If businesses are closing, it’slikely that people are moving out ofthe area to better locations.
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PHOTOGRAPHSLOOKED ALTERED
N I N E
If you are looking at a property onlineand the photographs look altered, youmay be making contact with a scamartist. People will alter photographs tomake a property look better than itreally is. Make sure to visit theproperty first hand before making anybig decisions.
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THE PROPERTYREQUI RES TOO MUCHMAI NTENANCE
T E N
A property that requires a lot of maintenance orseems like it would need a lot of maintenance isnot a good buy. You do not want your expenses toexceed your income from the property. One wayto tell if a property is like this is to see how long ithas been on the market. Make sure to do yourresearch on properties to find out if they havebeen on the market for too long.
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@ W D A R R O W F I E D L E RDO YOU THINK THERE ARE OTHER RED FLAGS TO WATCH
OUT FOR? TWEET ME
AND WE CAN TALK ABOUT IT !
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