Monday, June 3, 2019

Stealing an Owner's Equity

It's NOT illegal.

Just wanted to say that at the top.

But, I think it should be given that when an agent buys an Owner's property at way under it's value, there should be some form of punishment for the agent when they do that.

Because, basically, even though its NOT illegal to buy a property way under market value, I think its unethical -- especially if you are a real estate professional.

Essentially, all this is, is you are stealing the Owner's equity.

Now, investors who buy and sell real estate  (also known as flippers) want to do this on every transaction.  They think it's their duty to steal the equity for their own profit.

Alpine Motel Apartments

Currently, I am dealing with an apartment building listing I have in Downtown Las Vegas.  I get at least one inquiry a day on it by Investors who can "take this property off my client's hands."

What these investors don't realize, is the owner is also an investor at the same time he is an operator.
So, he isn't in need of having the property taken off his hands.

And that's the rub.  Since housing is in short supply in this area of Downtown Las Vegas, this property -- even though it's in need of renovation -- is mostly full all of the time.
Yet, they keep trying.  They keep making offers to buy low and flip.

But, since I know it's my fiduciary responsibility to protect my client, I tell ALL of these investors that the only way they get this property at a steal is to buy all four of the properties in a portfolio my client owns.

Interested in netting about $1.1 Million a year?
Email me.

To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!

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