Episode Details

The $150K “Stolen” Rental Property and How to Avoid a Real Estate Scam w/Matt Drouin

Episode 376 Published 2 years, 3 months ago

Description

Having your rental property stolen?! How is that possible? This would be a worst-case scenario for any investor, and it was nearly reality for today’s guest. Buckle up as we share one of the wildest real estate horror stories you’re likely to hear!

Welcome back to the Real Estate Rookie podcast! In this episode, which could be mistaken for the latest entry in your favorite crime drama, investor Matt Drouin tells the bizarre story of how he nearly LOST his $150,000 rental property to a professional scam artist. He shares some of his biggest lessons learned from this incident—including how to screen tenants properly, when to get an attorney involved in the eviction process, and how to avoid scams when looking for your own off-market properties.

But that’s not all. You’ll also learn about the many benefits of investing in your hometown, as well as when to branch out and choose a market beyond your backyard. What’s more, you’ll hear about the often-overlooked mixed-use buildings that can be a gateway into commercial real estate investing, and how to take down these deals with creative financing!

In This Episode We Cover:

How Matt nearly lost his property to a scammer (and how he got it back!)

How to avoid scams when searching for off-market real estate deals

The competitive advantage you gain by investing in your backyard

Buying the “mixed-use building” deals that most investors ignore

Using ZERO of your own money on a commercial deal with creative financing

How to finetune and automate your tenant screening process

And So Much More!

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