Buying Land for Investment Purposes
Investing in Land Scam: How it Works
(with video below) Thinking of investing in land? Beware of criminals. Read this article to see the How To Invest in Land scam exposed. Just as everyone wants to become a real estate guru by buying land for investment purposes, crooks are also in the game.
One day you come across an online ad selling a course on how to become a real estate property millionaire. You might also get a fancy high-end printed brochure in your mail featuring a great land investment opportunity. Everybody is talking about real estate and you decide to take the course, paying a good amount of money to register. The investment might pay off, so you don't mind. So where is the scam?
After finishing the course, you are introduced to your first great opportunity: an unbelievably cheap price for several acres of land, located either in your region or just a few states away (in Colorado there used to be 1-acre lots that were sold for $1,000US).
It looks really good. You are psyched. Then you decide to invest all your life-savings into this investment. The land really does exist, and yes, that's the price it will sell for – $1,000 an acre at most! Then what's the catch?
What the scammers didn't tell you is that the land is derelict, unsuitable for development or has already had planning permissions refused. Either way, you can't do anything with it and you are now landed with it – you may even find you are liable for charges related to the property. You've just lost not only the money for the course, but all your hard-earned savings and the scammers have done nothing illegal.
Sometimes, they don't even go to the trouble of organizing a course. They just post the land for sale as it is, because there is a good chance that somebody will fall for it.
Watch the video below to see 3 fatal mistakes people make when investing in land:
Land Investment Opportunities Scam: How to Avoid
If you consider investing in land, always research the prospect for the above-mentioned characteristics. Any land and property investment should not be done without due diligence. No real estate property millionaire would buy land without either going himself or sending an agent to inspect it thoroughly first. That's why they are millionaires. Also, make sure you do a proper research of the company that advertises it.
Talk to an investment advisor, but only after you do your diligence about him/her, too. There are a ton of legitimate land investment companies out there, so if you match the right advisor with the right organization, you could definitely score big. However, remember that like any other investment, profit is not guaranteed 100%. Last, but not least, don't be afraid to buy Investing for Dummies from a book store near you.
Buying Land for Investment Opportunities Scam: How to Report
Make your family and friends aware of the Land Investment Opportunity Scam by sharing it on social media using the buttons provided. You can also officially report the scammers to the Federal Trade Commission using the link below:
How to protect yourself more:
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