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A 2019 BBB study found that 43% of consumers shopping online for a rental property had encountered a fake listing, and more than 5 million people lost money in a rental scam.
Real estate scams are nothing new. But as rents, home prices, and inflation remain high in today’s volatile housing market, some industry experts warn scams could be on the rise.
FBI’s 2023 Internet Crime Complaint Center (IC3) report revealed there were 9,521 real estate-based fraud complaints in 2023, which resulted in over $145 million in losses. The fraudsters wisely ...
Get-rich-quick schemes are extremely varied; these include fake franchises, real estate "sure things", get-rich-quick books, wealth-building seminars, self-help gurus, sure-fire inventions, useless products, chain letters, fortune tellers, quack doctors, miracle pharmaceuticals, foreign exchange fraud, Nigerian money scams, fraudulent treasure hunts, and charms and talismans.
Beginning in the early 1990s Skyline Realty shifted its focus from brokering real estate to buying and managing apartments. CitiApartments has taken a buy and hold approach to its investments, making heavily leveraged purchases of mid-sized older buildings in nearly every neighborhood of San Francisco but mostly in the Tenderloin and Nob Hill ...
Victor Makras, a real estate broker and investor based in San Francisco, and a former member of a number of city commissions, was charged with bank fraud and conspiracy to commit bank fraud. The charges claimed that Makras conspired with Harlan Kelly to defraud Quicken Loans by overstating Kelly's mortgage and understating Kelly's amount of ...
The pandemic decimated San Francisco real estate, particularly its retail market. According to real estate firm Cushman & Wakefield, the city’s second quarter retail vacancy rate is 7.7% — up ...
In 2021, Rentberry started offering a Flexible Living concept that allows people to rent a fully furnished apartment or other real estates in a city of their choice for a short term, from 3 months to a year. [20] [21] In 2022 Rentberry raised capital through a Regulation A offering on the equity crowdfunding platform StartEngine. The campaign ...