I thought I'd share this with you all. It's a fairly old article (1 year), but the information it has is still helpful and will remind you to Keep your Guard up when doing deals out there. After you read the Article, you'll see a way that you can Reduce The Risk below. Be Careful and continue to be successful in your Real Estate Biz!
Here's that article I ran across:
Anyone online today probably receives a regular stream of investment scam e-mails. You've seen them: the wife of a Nigerian minister seeking to get millions of U.S. dollars out of the country, or the Zimbabwean land crisis, offering substantial commission fees for "honest assistance" to help transfer money. And, the ever-popular opportunity to help a foreigner invest in the "stable economy of your country." You might wonder who responds to these scams, and the answer is that many do, otherwise they wouldn't continue to exist. In 2003, the Internet Crime Complaint Center received 124,509 complaints, of which more than 63,000 were related to fraud and represented a loss of US$125.6 million. As real estate professionals, you may be a greater target, given your work with investors and entrepreneurial business opportunities.
Financial investment scams can also be much closer to home. Perhaps you've been asked to invest in a real estate deal by a colleague or friend. It might be presented as a once-in-a-lifetime opportunity, or simply a personal favor—someone needs your help and, in doing so, you too will benefit financially. Such opportunities can be legitimate as determined by a thorough investigation of the opportunity. But the risk of responding to personal pleas for assistance is that when you know or trust someone, you may not be as diligent in your research. Quite simply, your radar for a scam is probably turned off.
The CIPS Network is a great business tool and resource for its members, but like any group, it can be misused when an individual in appropriately uses personal contacts. To protect your financial interests, the following tips are provided to help you assess investment opportunities. These tips are provided by the US Securities and Exchange Commission.
With any investment, whether promoted in person, by mail, telephone, or on the Internet, a wise investor should always ask questions, and get written information. Take notes so you have a record of what you were told, in case you have a dispute later.
Is the investment registered with the SEC and the state securities agency in the state where I live or is it subject to an exemption?
Is the person recommending this investment registered with my state securities agency? Is there a record of any complaints about this person?
How does this investment match my investment objectives?
Where is the company incorporated?
Will they send me the latest reports that have been filed on this company?
What are the costs to buy, hold, and sell this investment? How easily can I sell?
Who is managing the investment? What experience do they have?
What is the risk that I could lose the money I invest?
What return can I expect on my money? When?
How long has the company been in business? Are they making money, and if so, how? What is their product or service? What other companies are in this business?
How can I get more information about this investment, such as audited financial statements?
Sound like good, logical advice? Of course it does. But when you're talking to someone you know and respect, you may feel awkward posing these questions. Investment opportunities from friends and acquaintances should be approached exactly the same as if you were approached by a stranger. If you want to learn more about fraud and how you can prevent it, there are dozens of web sites to help you. Search on "Internet fraud" in your browser.
If you believe you have been a victim of fraud, your options for reporting it will depend on the country in which you live. In the U.S., you may report fraud to the FBI, the National Fraud Information Center, or other government and non-profit organizations, depending on the type of fraud. Check with your local law enforcement agency for specific guidance.
by Carol S. Weinrichb
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So, How Can you Reduce the Risk?
Send me an email and I'll personally let you know...
Think your not at Risk? Think again!
Do you hand your credit card to servers at restaurants?
Do you sign your credit card?
Do you supply personal information over the internet?
Do you leave mail at your home or business for the postal carrier to collect?
Do you shred unwanted mail containing personal information?
If you said yes to at least one of the above, then you should definitely do something to reduce the risk. If you said no to everything above, then good for you, your practicing some good steps to reduce your risk, but what about all the other questions that weren't even asked. Think about it and Reduce the Risk Now!
by J.Lamar
Saturday, December 22, 2007
Friday, December 21, 2007
Watch out for People who can ruin your Real Estate Career, in a heartbeat...
This isn't for everybody, but somebody will feel what I'm saying on this.
Something motivated me to post a bulletin today about a subject that really pisses me off.
It's called Dream Stealers! (Negative People) People who can ruin the dreams and goals you go after, in a heartbeat.
I'm sure you've come across one, or maybe a couple. It's a shame what people could fit into this category. Who am I referring to, right? Well, sorry to say, but it could be your "closest" friend, your mother, father, brother, sister, spouse, significant other, etc. I'm not saying these people themselves are negative, it's just that their thought process, can be negative, which in turn, could have an impact on your dreams & goals!
Just imagine if you had a $Million$ dollar idea, or a goal you've been seeking ever since you were young, or even one you just made for yourself. Then you walk up to your Parent(s) or your closest friend, or your spouse/significant other and spill your guts to them about what you want to achieve. Once you've finished explaining, what happens next...You start getting these common responses...
"Yeah ok, keep on dreaming"
"It's too good to be true, let it go"
"You'd be better off trying to win the Lottery"
"Yeah good luck, Hope it's not a SCAM"
"What makes you think, you can do something like that"
"Your too old"
"Your too young"
"Your not ready for something like that"
"Oh Lord, Here we go again. This is like the time when you tried to..."
or the most ignorant response,
"ha ha ha!! LOL"
They might even throw your past failures in your FACE!
Then what do you do. You crawl back into your shell and never do whatever it is you want to do. You start questioning your judgement, you might even give up on that goal! Or, you just keep coming back to them, expressing your dream more clearly, hoping that they would change their mind and give you the support you deserve. You throw your dream UP (Swoosh!) ...and they just shoot it down! (BOOM!)
Why do people share their dreams and goals with Dream Stealers? Could it be because they look up to that person, or they've always looked to that person as someone they can "count on".
Here's a blunt question about Dream Stealers? Are they speaking to you through failed experience or ignorance?
Now don't get mad at me, but I mean really, How can someone give you advice on something they've never tried themselves, or never even looked into? Their first time hearing about it may be when you brought it to their attention. Or maybe they are speaking to you through someone else's failures or even their own. Sad...but true! It's amazing how some people can run off at the mouth about any topic, but have no idea what they're talking about. They'd be better off saying, "Well, it sounds like this is something your really passionate about...I don't know too much about that, but Go for it, I got your back. " (I think that would be cool, but it doesn't always go down like that)
So what do you do?
I'm not saying to never listen to these Dream Stealers again or to completely cut them off. Obviously, they're someone of value to you or you wouldn't have shared your dreams or goals with them.
My suggestion....Just limit what you share with them. Research your dream or goal, make sure it can be done, and do it! I know you get excited when you have that new idea or you're ready to start that new business or goal and you want to tell the whole WORLD!! But the time will come. Instead, share your thoughts and ideas with people that can relate. People that are doing exactly what you want to do! People that have been there or who are doing it everyday. See what kind of advice you get then. Get a Coach or a Mentor. Watch how fast you see results. Watch how pumped up you'll get to start going after that dream or goal of yours. Then you can kick back and tell those Dream Stealers a thing or two. So the next time, someone comes to them for advice, they won't steal that person's dream, they'll just reflect off of your Success! Think about it...
Your PAST does NOT equal your FUTURE!
Ok, I'm all better now!
-J.Lamar
Something motivated me to post a bulletin today about a subject that really pisses me off.
It's called Dream Stealers! (Negative People) People who can ruin the dreams and goals you go after, in a heartbeat.
I'm sure you've come across one, or maybe a couple. It's a shame what people could fit into this category. Who am I referring to, right? Well, sorry to say, but it could be your "closest" friend, your mother, father, brother, sister, spouse, significant other, etc. I'm not saying these people themselves are negative, it's just that their thought process, can be negative, which in turn, could have an impact on your dreams & goals!
Just imagine if you had a $Million$ dollar idea, or a goal you've been seeking ever since you were young, or even one you just made for yourself. Then you walk up to your Parent(s) or your closest friend, or your spouse/significant other and spill your guts to them about what you want to achieve. Once you've finished explaining, what happens next...You start getting these common responses...
"Yeah ok, keep on dreaming"
"It's too good to be true, let it go"
"You'd be better off trying to win the Lottery"
"Yeah good luck, Hope it's not a SCAM"
"What makes you think, you can do something like that"
"Your too old"
"Your too young"
"Your not ready for something like that"
"Oh Lord, Here we go again. This is like the time when you tried to..."
or the most ignorant response,
"ha ha ha!! LOL"
They might even throw your past failures in your FACE!
Then what do you do. You crawl back into your shell and never do whatever it is you want to do. You start questioning your judgement, you might even give up on that goal! Or, you just keep coming back to them, expressing your dream more clearly, hoping that they would change their mind and give you the support you deserve. You throw your dream UP (Swoosh!) ...and they just shoot it down! (BOOM!)
Why do people share their dreams and goals with Dream Stealers? Could it be because they look up to that person, or they've always looked to that person as someone they can "count on".
Here's a blunt question about Dream Stealers? Are they speaking to you through failed experience or ignorance?
Now don't get mad at me, but I mean really, How can someone give you advice on something they've never tried themselves, or never even looked into? Their first time hearing about it may be when you brought it to their attention. Or maybe they are speaking to you through someone else's failures or even their own. Sad...but true! It's amazing how some people can run off at the mouth about any topic, but have no idea what they're talking about. They'd be better off saying, "Well, it sounds like this is something your really passionate about...I don't know too much about that, but Go for it, I got your back. " (I think that would be cool, but it doesn't always go down like that)
So what do you do?
I'm not saying to never listen to these Dream Stealers again or to completely cut them off. Obviously, they're someone of value to you or you wouldn't have shared your dreams or goals with them.
My suggestion....Just limit what you share with them. Research your dream or goal, make sure it can be done, and do it! I know you get excited when you have that new idea or you're ready to start that new business or goal and you want to tell the whole WORLD!! But the time will come. Instead, share your thoughts and ideas with people that can relate. People that are doing exactly what you want to do! People that have been there or who are doing it everyday. See what kind of advice you get then. Get a Coach or a Mentor. Watch how fast you see results. Watch how pumped up you'll get to start going after that dream or goal of yours. Then you can kick back and tell those Dream Stealers a thing or two. So the next time, someone comes to them for advice, they won't steal that person's dream, they'll just reflect off of your Success! Think about it...
Your PAST does NOT equal your FUTURE!
Ok, I'm all better now!
-J.Lamar
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