Red Flags & Real Estate Scams (Dean Rogers)

06/30/23 • 50 min

Scammers are just a part of life, but Dean Rogers learned how to do 'deeper' due diligence after he got burned by a known criminal. Dean lost $180,000 but sees how he could have avoided it by trusting his gut and making a few more phone calls to other people involved in the deal.

Con-men (and Con-women) know that most people want to trust other people, and they abuse that trust to scam people. To avoid scams in real estate (or anywhere) just remember this quote:

"Trust, but verify." - Ronald Reagan

⏰ TIME STAMPS ⏰

00:00 Dean Rogers - Real Estate Investor

01:43 Football Career & NFL Signing

09:54 Deciding to Retire

15:30 Corporate Life Letdown

16:20 Getting First Wholesale Deal

22:19 Real Estate Investing 101

23:47 Co-Wholesaling to Going Solo

28:08 Real Estate Due Diligence

29:31 Red Flags & Real Estate Scams

38:02 How to Expose the Scammer

45:00 The Deal Champs Podcast

Con-men (and Con-women) know that most people want to trust other people, and they abuse that trust to scam people. To avoid scams in real estate (or anywhere) just remember this quote:

"Trust, but verify." - Ronald Reagan

⏰ TIME STAMPS ⏰

00:00 Dean Rogers - Real Estate Investor

01:43 Football Career & NFL Signing

09:54 Deciding to Retire

15:30 Corporate Life Letdown

16:20 Getting First Wholesale Deal

22:19 Real Estate Investing 101

23:47 Co-Wholesaling to Going Solo

28:08 Real Estate Due Diligence

29:31 Red Flags & Real Estate Scams

38:02 How to Expose the Scammer

45:00 The Deal Champs Podcast

Previous Episode

Make Your Rules & Reduce Your Risk (John Jackson)

As someone who embraced legal lease options in Texas, John took advantage of the opportunity the regulation created. From working with one or two FSBO sellers to eventually scaling up and moving hundreds of properties every year, John was named the King of Lease Options by Joe McCall himself.

But all of that business success set John up for some painful failures, so John thought back to his time as a stock trader came up with these 3 rules to live by.

Your ego ain't your amigo - When entrepreneurs hit the Million dollar mark in gross revenue, it's a dangerous place. The success builds the ego, the ego underestimates risk, and the risk breaks down the ego.
Gross doesn't buy groceries - Tracking your gross revenue is almost pointless, because it's the profit the business generates that actually matters.
It's OK to make a mistake ONCE - Every mistake should teach you a lesson, learn the lesson and create a rule to prevent yourself from repeating the mistake.

⏰ KEY MOMENTS ⏰

00:00 John Jackson - Lease Options / Rent to Own Houses

01:00 Joe McCall names John the King of Lease Options

03:20 John Jackson & Joe McCall & Naked-Investor.com

04:46 Lease Options Explained

06:02 Are Lease Options Legal in Texas?

07:43 Downloadable Free Real Estate Contract PDF

08:30 John Gets His First Lease Option Contract

12:34 Creative DIY Bandit Signs

14:07 Sandwich Lease Options Explained

15:02 #1 Person You DON'T Want to be in Real Estate

16:53 Don't Break the Rules of Real Estate

18:31 Roadmap for Scaling a Business

20:05 Russ Whitney's Real Estate Training Business

21:47 KPIs & Gross Doesn't Buy Groceries

Next Episode

Dark Side of Real Estate Investing (Tony Javier)

What are the pros and cons (or downsides) of real estate investing?

The pros of real estate investing are pretty well known, the ability to use leverage (debt) to buy properties that generate passive income (cashflow) that also appreciate in value (equity) while giving tax benefits (depreciation).

But every investment has its cons, some of real estate's downsides are market volatility, bad tenants, vacancies, maintenance, and legal/regulatory issues. Basically it comes down to tenants, toilets, and termites.

Tony Javier's career as a real estate investor was almost derailed by those downsides. Luckily he didn't listen to the naysayers and dove right in, acquiring 10 rental properties in just a few years using the BRRRR method.

⏰ TIME STAMPS ⏰

00:00 Tony Javier - Real Estate Investor TV consultant

01:00 Carleton Sheets - Real Estate Infomercial

02:03 BRRRR Method Success

04:57 Dropping out of College

06:30 Toilets & Tenants

07:35 Worst Deal

17:06 TV ads for Real Estate Investors

22:00 Founding 10X TV

25:30 TV ads in big vs midsize markets

29:18 TV vs Direct Mail

32:49 Why 10X TV?