Finance Articles

Beware Of Real Estate Investment Scams

Charlotte, NC (PRWEB) November 21, 2007 -- Bestbraindrain.com, a website and blog geared towards helping people and offering free tips and advice has expanded their real estate section to include many helpful articles on real estate investing and real esate scams. This is in response to the ever growing numbers of real estate investment scams out there.

Right now there are thousands of self proclaimed real estate gurus traveling around the country stating that right now, with the current real estate turmoil and rise in foreclosures, is the best time to ever get into real estate investing. They are hawking their ideas on TV in late night infomercials, in magazines and online, and even in your local real estate investment clubs. Many are claiming real estate investing to be an easy route to instant wealth. Actually, per the FTC (Federal Trade Commission) in most cases it's an instant route to the self proclaimed real estate guru's wealth, not yours.

Yes, according to a recent Money magazine article, the FTC and numerous authoritative sources these real estate scam artists are popping up everywhere and pitching that real estate investing through fancy terms like short sales, probate sales, foreclosures, REO, HUD foreclosures, etc? is the road to the American dream and financial wealth and freedom.

According to Bestbraindrain.com (http://www.bestbraindrain.com) website owner David Maillie, "There is a possibility that people can make some money through these various techniques and a decent living at it, but they need to know it is not easy, takes a lot of hard work and they most likely will not get rich from it. Most people have little chance of ever making back the money they spent on these expensive seminars. This is why we greatly expanded the real estate section of our website with numerous helpful articles that actually expose investment scams and their promoters."

Money magazine investigated several of these gurus and their pitchmen and could not find sufficient sales to even come close to the grossly exaggerated claims of profits and sales. This is not uncommon. According to the FTC (Federal Trade Commission) website many of these real estate investments schemes are complete scams whose sole purpose is to unsuspecting investors to buy their expensive and often times outdated cd/dvd systems, boot camps, seminars and coaching.

In reality, many of these self proclaimed gurus have been found to be fraud and live entirely off the profits and proceeds of their expensive seminars with very little, if any, actual real estate investing on their behalf. "It is sad that these scammy real estate gurus take advantage of people in the way that they do," said David Maillie. "It also tarnishes the industry for the few good and honest real estate investment experts out there. This is why we greatly expanded this area of our website and even loaded it with a lot of the information that you will find at expensive thousand dollar boot camps and seminars all for free."

In general, to avoid being scammed by a shady and slick real estate guru or promoter:

1) Avoid any investment scheme that claims you don't ever have to look

at the real estate to buy it or sell it.

2) Avoid any real estate guru or promoter that says their way is an easy, no fail route to instant wealth.

3) Don't allow yourself to be rushed into an expensive decision you may later regret.

4) Use common sense. If it sounds too good to be true it probably is.

For more great information, tips and advice on real estate investing scams, various real estate investing methods, real estate articles and more all absolutely free please visit Bestbraindrain.com at:

http://bestbraindrain.com/categories/Real%20Estate.aspx

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