New Real Estate Laws and Fraud

General Real Estate Investing
1

Im in the Atlanta area and ive been hearing alot about new laws being passed because of investors commiting fraud.

Just wondering if anyone has any info on this. As for what laws have recently been passed preventing beginning and seasoned investors from closing more deals efficiently. Also, since im not a professional in real estate law. What are some of the fraudulent actions that investors have been committing. Not being thorough in the law. Im curious to know if i have been breaking any laws and not knowing it.

This is my operation in a nut shell:

  1. Get house under contract with motivated seller
  2. Have my private or hard money lender fund the deal.
  3. Start construction and prepare the house for re-sell.
  4. Pre-Qualify an end-buyer who will either live in or rent the property out.

In those few step without typing out all the details that go along with a deal. What could i be doing illegal?

Thanks in advance for any insight into this matter.

2

So,
Please read Rachel Dollar’s mortgage fraud website/ blog. She is a lawyer who tracks crimes of dirtbags disguised as investors and mortgage folks. The stuff she reports people being indicted for is what not to do.
What you outlined is business. In my opinion, if you don’t do anything you don’t want to see in print or don’t want to explain to your favorite teacher, you will be OK.
Please read John T. Reed’s website. He reviews a slew
of writers quite honestly.
Good luck,
Ray

3

I appreciate you being on like that Ray, i will check them out immediatly. I appeciate your time.

Thanks!