Ethics-Scare Tactic Or Strategy? Denver Investor (not me)doing...
There a local Denver investor/wholesaler, not myself, using this strategy to get properties under contract. My wife, real estate agent, noticed that a property she had listed was getting low offers. She’s usually spot on with her comps as we also flip and wholesale etc, also it’s in her client’s best interest. However when viewing these “offers” she notices they came from 3-4 different agents but were in a trust signed by the same investor. An investor I had used once (never again) in the past. These offers all came in $20k under asking, then a few days later by another agent $30k under asking and then the very next day by yet another agent for $40k under asking.
My question to you, BP community- Is this a scare tactic, given the current situation with COVID-19 or is this an investing strategy?
I believe it should be illegal, if it’s not already and I’m just unaware, but especially believe it takes advantage of people in an already fear-filled situation. Your thoughts?
And remember - Please try to keep things positive and not attacking one another. Thanks