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When you’re about to buy your first realproperty outside of your primary residence, you should know whether you’re going into it with the intention of renting or if you want to flip and make an immediate profit. Are You Cut Out to Be a Landlord? Owning rental properties is a huge responsibility. Decide on How to Proceed.
Owning raw land has real potential along with its share of pitfalls. Whether you decide to hold it and sell when realproperty values climb or -- alternatively -- develop the lot to convey at a higher price, you are subject to forces of market, timing and competition. Motivation will determine the price paid for your land.
One scheme growing in popularity involves “title pirates,” fake sellers who convince a buyer, real estate agent and/or title company that the “sellers” own a property and want to get rid of it quickly. Deepfake technology can even impersonate real estate agents, landlords, lenders or consumers.
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