The David Greene Show
Nightmare On REI Street. $200k Loss and Scams - Episode 16
Oct 31, 2024
Tanner Litchfield, a real estate investor, shares his harrowing tale of a $200,000 loss due to a deceptive property deal. He reveals the emotional turmoil of dealing with an untrustworthy home seller and the lack of support from legal advisors. Tanner exposes the risky allure of creative finance and wholesaling, cautioning listeners about the unregulated ‘Wild West’ of real estate. His story is a compelling reminder of the need for due diligence and cautious partnerships in the off-market investing world.
45:46
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Quick takeaways
- The podcast emphasizes the importance of sharing both successes and failures in real estate investing to foster a supportive learning community.
- It highlights the risks associated with wholesaling and the necessity of conducting thorough due diligence to avoid misleading deals.
Deep dives
The Reality of Real Estate Risks
Real estate investment is often marketed through success stories, which can create a misleading perception of the industry. This podcast highlights the importance of sharing not just successes but also failures, as doing so can help aspiring investors avoid pitfalls that can arise from glossing over challenges. By candidly discussing significant losses, like the $180,000 lost by an investor on a bad deal, it emphasizes that feeling isolated or inadequate is common among those new to real estate. Such transparency is essential for fostering a supportive community where investors can learn from each other's mistakes.
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