Your best bet for success in real estate is starting with a bay area investment property Sometimes though, investors can lose out when tricked into bad deals by con artists. You can avoid being tricked by paying careful attention to your deals and looking out for these common scams.

To start off you’ll want to avoid making a simultaneous close. Title companies have started refusing simultaneous closes because it’s too difficult to keep track of who has received the finances and from what source. In the long run you’ll find it easier to avoid these kinds of closings and just go with another closing strategy. Scam artists sometimes hire appraisers to appraise a home at higher or lower than its actual market value for extra cash.

This method is used by many different types from homebuyers to other investors. Those who get suckered by these con jobs usually end up with a property that is worth more or less than they really expected. Protect yourself by hiring your own appraiser to look at a property or doing your own market value research. Finding the market value of the home will be easy when you look at the selling prices of other similar properties in your area.

A lot of new investors or homebuyers are drawn in by these scams. You may get a phone call or invitation from a company hosting a free real estate seminar with food. The company offering this seminar may call you with a chance to register using your name, address, number and they may even ask for your social security number. Free seminars are common but the person registering you for this seminar may ask for private information which you should never give out.

Once they have your social those running the scam will be able to determine if you can get approved for a large mortgage on a home. At the conference you’ll be pitched this deal by other ‘investors’ and all you have to do is get approved for the loan to buy the house. However, after the deal closes these marks are typically left holding a home that’s worth less than they thought and a loan that they can’t pay off. Make sure you see that bay area investment property before buying and do get your own market value comparison.

When you keep your wits about you, you’ll find that it’s a lot safer to buy bay area investment property. The easiest ways to success are common sense, getting your own home inspection and not giving out your social security number! Besides that, the best way to successful investing is to secure your own lenders, contractors, and appraisers.

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categories: bay area investment property,San Rafael real estate,bay area investment property deals

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