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The David Greene Show
Ripped Off By First RE Mentor In Rolls-Royce - Episode 23
Dec 5, 2024
Janelle Carlson, a seasoned real estate investor, reveals her harrowing experience with a fraudulent mentor who stole her investment while living the high life. She shares valuable lessons on recognizing red flags and the importance of due diligence. Janelle and her husband, Don, discuss their initial disastrous property deals, emphasizing how they lost money due to unexpected costs and the critical need for local market knowledge. This candid conversation offers insights on steering clear of deception in real estate and learning from costly mistakes.
33:01
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Quick takeaways
- Janelle's experience highlights the critical need for due diligence and recognizing the warning signs of dishonest business partners in real estate.
- Despite initial losses, Janelle and Don emphasize the importance of learning from mistakes and leveraging local knowledge for future investment success.
Deep dives
The Reality of Real Estate Investments
Investing in real estate often comes with unexpected challenges, as discussed through the experience of Dawn and Janelle. Their first investment venture involved lending money to a broker they trusted, but this resulted in a significant loss due to the broker's fraudulent behavior. Despite their initial optimism, they soon realized that the glamorous lifestyle of their broker obscured the reality of his unethical practices. This experience underscored the critical importance of thorough due diligence and understanding the true character and credibility of business partners.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode