Investment Pimps

Had a meeting today with a group who finds investments. Pretty interesting. Not in a way where you feel you found a good deal, but interesting in the way that you learn something about someone that amazes you.

They basically had some very sketchy deals in several parts of the country and in various different price ranges.[ranging from $75,000 to $28 million]. The deals were
either pre-construction or commercial/land deals. They didn't really have any numbers on any of the deals[except pricing]. They just wanted $25,000 to $3 million assignment fees on most of them.

What amazed me was that though they didn't really understand market cycles or how investing worked, they definitely thought that they were doing the investors a great favor and were demanding pretty steep assignment fees upfront. Most of the deals were marginal at best and some were just terrible. And they were offering me an equivalent amount in "commissions at closing" to pimp them to my investor group.

While there are many agents, who specialize in investments and dealing with investors and provide excellent services, you also need to be wary of investment pimps who will say anything to push a product so long as they get paid they're upfront finders fee, or assignment fee. Dont' get taken in by their "research".

Always do your own Due Diligence!