freedomrealestateinvesting.com

I got scammed by real estate wholesalers... anyone else? I now know that I have pretty severe bipolar disorder type II. I had a bad hypomanic phase last year when I got caught up by real estate wholesaling. If you've ever seen crappy signs on the side of the road that say "WE BUY HOUSES FOR CASH" or something to that effect, those are real estate wholesalers. Real estate wholesaling is a scam where an "investor" uses direct marketing like junk mail, the WE BUY HOUSES "bandit signs" (called that because they are typically illegal and placed in the middle of the night like bandits), and cold calling numbers from public records. Typically they target people who are in desperate situations, such as bankruptcies/foreclosures, divorces, code violations, and even families of recently passed relatives via probate court records. They use a fast-talking sales pitch to try and convince the owner to sell quickly, saying they pay cash and can close in five days or less, but they must sell now. In exchange, the wholesaler wants a DEEP discount off the price of the house (typically 40-50% off market value), claiming it's necessary to recover repair costs, and to entice a buyer to close quickly. Once the agreement is made, the wholesaler "buys" the house with transactional funding, flips the house immediately to the actual investor, and collects a middle-man fee ranging anywhere from $5,000-$20,000. I wasn't scammed by this, but I was the scammer, unintentionally. Here's where the MLM piece comes in. Like MLM, there are motivational speakers like [Brock Collins](https://www.youtube.com/watch?v=nVta7w7y1NI) and [Phil Pustejovsky](https://www.youtube.com/watch?v=lSXGxOiRp7A), who offer "training" on real estate wholesaling. They entice people in by saying it's a "no money down" real estate investment, say no real estate agent license or training is required, and make wild income claims from their past deals. They can back up their income claims with the HUD-1 documents, b

I got scammed by real estate wholesalers... anyone else? I now know that I have pretty severe bipolar disorder type II. I had a bad hypomanic phase last year when I got caught up by real estate wholesaling. If you've ever seen crappy signs on the side of the road that say "WE BUY HOUSES FOR CASH" or something to that effect, those are real estate wholesalers. Real estate wholesaling is a scam where an "investor" uses direct marketing like junk mail, the WE BUY HOUSES "bandit signs" (called that because they are typically illegal and placed in the middle of the night like bandits), and cold calling numbers from public records. Typically they target people who are in desperate situations, such as bankruptcies/foreclosures, divorces, code violations, and even families of recently passed relatives via probate court records. They use a fast-talking sales pitch to try and convince the owner to sell quickly, saying they pay cash and can close in five days or less, but they must sell now. In exchange, the wholesaler wants a DEEP discount off the price of the house (typically 40-50% off market value), claiming it's necessary to recover repair costs, and to entice a buyer to close quickly. Once the agreement is made, the wholesaler "buys" the house with transactional funding, flips the house immediately to the actual investor, and collects a middle-man fee ranging anywhere from $5,000-$20,000. I wasn't scammed by this, but I was the scammer, unintentionally. Here's where the MLM piece comes in. Like MLM, there are motivational speakers like [Brock Collins](https://www.youtube.com/watch?v=nVta7w7y1NI) and [Phil Pustejovsky](https://www.youtube.com/watch?v=lSXGxOiRp7A), who offer "training" on real estate wholesaling. They entice people in by saying it's a "no money down" real estate investment, say no real estate agent license or training is required, and make wild income claims from their past deals. They can back up their income claims with the HUD-1 documents, b