Have you not read about the scams perpetrated by people that claim to have an ownership or management interest?

I don't want to involve myself in something that could be a possible scam.

I suppose many of the gurus have earned their reputation of a scam, rip off, or whatever else you might want to call it.

I know this is an ad click revenue site & you need thousands of users,but it is tedious to wade through the posts to get to the good ones..The signal to noise ratio is terrible.I just get so tired of seeing TV,hearing radio,books on this stuff.If it's isn't get rich quick at poker,it's flipping houses.The rich dad guy appears to be the biggest scam of all.From what i've heard,he appears to live in a universe where there are no bad deals,bad tenants or housing bubbles.Ask your RE agent how many deals have been backed out of & time wasted trying to do business with 1 of these seminar gurus.

I looked at their web site and it does have the feel of a scam.

Sounds like somone is trying to scam you.

There's a lot of scam artists out there.If you're doing REOs, you really should have more than 1 offer out at a time anyway so you don't have to worry about "this one deal".

Now the building was foreclosed on by the bank that loaned the developer money and now he is gone and can not be found.What they do is use your money to either start the project or SCAM you by coming up with all sorts of stories that why the project is not complete.

Some states have passed laws making them virtually illegal, and look at them as scams to prey on homeowners in trouble.

And no, not even the "seasoned shelf corp" scam will overcome that, lenders will look at the financials of the owners unless and until you are publicly traded with a long history of audited financial reports.