I saw an add on craigs list for some homes that were VERY underpriced and were beautiful homes. (There were several adds) When I contacted the number the man told me that It would be $80 bucks up front. Being an escrow officer for 15 years I started asking him more questions, since it seemed odd to me to as for money from the potential tenant. I asked him if the homes were foreclosed on, if they had already had the Notice of Defaults filed and where were they on that process. He advised me that they are in an investment company and they work with several investors. I asked him if they were regulated with DRE (Dept of Real Estate) and he advised me that that license is not necessary for them. (NOT TRUE IN CALIFORNIA!!!) All the while I am looking them up on the Better Business Bureau website to see that they have a Rating of "F". When I questioned him of that he explained that the BBB is not important and that its run by a bunch of ppl that just have opinions and no facts. That really made it clear this was a scam. DO NOT WORK WITH THESE PPL!!! Management companies only charge the owner not the tenant and if you are showing properties you are required BY LAW to have a Real Estate license. Dont fall for it!
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