Experts aren’t free — but getting scammed will cost you more.
A few years ago, there were radio ads from an investment firm promising a guaranteed 9% return.
That always struck me as suspicious. There’s no such thing as guaranteed investment returns. Anyone promising that is either dishonest or incompetent.
And if you really could generate a 9% return with no risk, there wouldn’t be any need to advertise. Money managers would be running each other over to get clients into it.
Turns out, I was right. A few years later, the guys behind the scheme were sentenced to decades in prison.
And in the small-world department — the lead investigator who arrested them was also my daughter’s soccer coach.
But here’s the thing: if you listen to the radio today, you’ll still hear similar promises. I won’t name names (no need to get a call from anyone’s lawyer), but the fact remains:
There’s no free lunch. Investments carry risk.
That’s true whether it’s financial instruments, real estate, stocks, or bonds.
Those “opportunities” were sold through mass media — where they reach the most people, and often the ones least prepared to know what they’re getting.
The sad part is, if the victims had talked to an honest professional, they probably would’ve been steered clear of the whole thing.
We’ve all heard the saying: If something sounds too good to be true, it probably is.
But here’s something else to remember:
You always have to do your due diligence, but if the deal comes looking for you instead of the other way around, you have to be especially careful.
So what does that have to do with real estate?
You know I’m biased, but if it’s done properly, I think there’s much more opportunity in real estate investing than in retail stocks or mutual funds.
If it’s done properly.
If you’re not experienced, it’s easy to get in over your head.
Like I said, I’m biased — but if you’re not using the services of an experienced and honest broker (hello), you’re setting yourself up for trouble.
Is it free? No.
Is it cheap? Not really.
But it is a bargain.
If you’re looking to invest/buy or sell, is it crazy to want to have skilled people on your side?
Didn’t think so.
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