Creative Financing Vs Commiting Fraud
I noticed lately a lot of newbies are totally confused. They don't know the difference being creative investors nd being fraudulant investors. I am a mortgage broker, but I have nothing against creative financing. I know about conventional financing, hard money and etc, but I didn't much about creative financing except L/O and owner finacing. I have learned a lot since I joined this website. I really appreciate all the experts who are here everyday to answer (sometings even dumb) questions tirelessly.
Now going back to the suject, oh my god, it is very scarly what they think and do. They really don't know what the consequences will be. Let's not invest in an illegal way. It is not worth it. If it sounds too good be true, it probably is.
[ Edited by SmileyFace on Date 10/29/2003 ]
I agree. Although no one ever made any money at this only by reading or studying, or learning, it is important to educate yourself first. And I applaud the enthusiasm some of the new folks show, (Lord knows I'd be further along in my investing careed if I had gotten started sooner) Think about the consequences of your actions before you do something bad. Committing fraud, (even by accident) gives us all a bad rap, and makes doing business more difficult
Jeff
I agree - I am fairly new to this site and am both impressed by some members but also very disappointed with others. Obviously there are investors of all experience levels here. For the new investors, experienced investors should feel an obligation to give accurate, researched and tested advice...know your audience when responding to posts; if it is a beginner, be very clear and concise and don't assume they know anything. This is a great business and real money can be made but you have to know what you are doing or you will flounder and/or get yourself into trouble (not to mention make it more difficult for those that know what they are doing).
For those beginners….walk before your run. I see a lot of ready, fire, aim going on and that just won’t work for you. This is a great forum, be patient and learn form people here, I am learning a lot myself. Don’t jump into a deal because you see dollar signs, if you need a deal that bad you probably should not be doing this right now anyway. You need to be disciplined or you will talk yourself into deals that are not there. Start of bird-dogging or partner with an experienced investor, it will pay off in the long run. There are plenty of deals out there and there always will be. Investing with emotion is a recipe for disaster. Stick to your guns, if a deal fits your parameters, buy it, if not just walk away and don’t think twice about it….don’t try to make it work or bend your guidelines or say it’s close enough…move on and find one that fits your plan and you won’t get bit…..good luck to all and keep posting…..