The Dark Side of Real Estate: Scams That Are RUINING People

Ken and Danille McElroy discuss the most prevalent real estate scams and provide essential tips to protect yourself from falling victim. From wire fraud to fake home inspections, learn how to identify and avoid these costly traps.

You can listen to an audio replay of this live stream on Ken and Danille's podcast! Follow your favorite platform with the links below!



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ABOUT KEN:
Ken is the author of the bestselling books The ABCs of Real Estate Investing, The Advanced Guide to Real Estate Investing, The ABCs of Property Management, and has an upcoming book: "ABCs of Buying Rental Property: How You Can Achieve Financial Freedom in Five Years." Ken is a Rich Dad Advisor.

Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.


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Although Ken McElroy and his affiliates take all reasonable care to ensure that the contents of this channel are accurate and up-to-date, all information contained on it is provided ‘as is.’

Ken McElroy makes no warranties or representations of any kind concerning the accuracy or suitability of the information contained on this channel.




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[therealestake]

The Prince of Nigeria is working the email list again. That guy just never quits!

[fromthebirchwood]

I am 28 years old and lost my dad about half a year ago and I am going to receive some money soon. Would it be smart to grow my money in stocks for a few years while I am in college and then invest in rental properties afterwards, or should I go for real estate investing first?

[paulkish]

Scams are everywhere we all need to be wise

[TaiAnthony]

One of my best friends got scammed for pretending her mortgage company by sending her an email to claim $50, 000. This is a big red flag here.

[rosstrevail]

Hi Ken, the best way I know to avoid internet scam, is go to bank and pay buy cheque, especially is you are paying deposit of property purchase or only pay by cheque at real estate agent .

[leoleo]

Heard a good one, if you get an email with details for a payment, say for a big deposit, actually phone the office to talk to someone, to confirm the payment details.

Heard of someone paying a builder or a real estate agents office, however someone had intercepted, copied the email chain and input their own bank details…

[Bruno-qxlu]

Love the content, very helpful advice from vets to noobs. Ken mentioned that its not the state of the rental market, thats a macroscopic view that most people dont have or see.

[PaulJKurucz]

Thanks for sharing your insightful guidance and wisdom. Now let's get 10 million people involved in real estate to watch this so these scams collapse!

[MyWealthBuildersRealty]

Wire fraud is definitely rampant. In Idaho, the only person with a secure email is the title and escrow company. Lenders and realtors never send out wire instructions.

[jimneil]

Bottom line is just rent a hotel room and avoid all the scams and excess fees if it’s a legitimate air bnb.

[jbrandonporter]

When you teased the guest last week, he was not who I was expecting! Really hoping I can catch a meal with him in the VIP room.

[NeRvOusNoOb]

Times sure have changed. Now banks don't want you anywhere near their branches, at least not here. Small payroll expense.

[T-AH-LOW]

GREAT VIDEO
IN REAL ESTATE FRAUD PREVENTION

[CLEASWORLD]

I jus thad a bad experience on Airbnb with a listing and they did nothing. The property was completely different from what they had described and Airbnb said that they had spoken with the host and there was no basis to my claim even though I had sent them photographic and video proof of my claims. Airbnb will not protect you.

[illuminatedwiz]

Love this video. This is sadly very real.

[hummervee]

Can you do a video on cash out refi? I know the loan proceeds are not taxable, but what about the payments? Is only the interest tax deductible? If i used the rent income to pay the payments, don’t I still pay tax on the rent? I enjoy the work you two do.

[Techpodshed]

Which are the best construction lenders banks? And or hard money companies that specializes in helping small developers get started?

[ginacardarella]

Yes, I had a terrible inspector that I used the real estate agent recommended. I spent over $400. Getting a duplex inspected, and I paid more because it was supposed to be more of an in depth inspection, and once I got out f there I saw all kinds of things that he didn't call on. I backed out I lost about three thousand but saved me a hell of a lot in the long run, never again. So glad I didn't end up buying in Florida. Anyway?

[Techpodshed]

When real estate investors ruin their own construction project and blames and backcharge the contractor😅

[zmk]

You should talk about your buddies that you promote, clayton morrisand
Matt onofrio