[blue_sky]

I’ve developed a new approach for giving people advice, whenever they ask me about a stupid investment idea (including buying real estate at current prices in San Diego) the conversation goes something like this:

Person: “I found a company that’s offering me a 40% guaranteed return. They invest in XXX, which is [blah blah blah]”

Me: “Go for it, the worst that can happen is you get a 40% return”.

Person: “What do you mean?”

Me: “The best thing that can happen is you lose all your money, but you’re young so it doesn’t matter and you’ll learn to avoid these kinds of scams. If you actually do get 40% you’re one of the lucky ones at the start of this scheme and you’ll end up investing like this until you lose all your money later, at which point it will be more painful. So I suggest you get this learning experience out of the way now.”

Really makes people stop and think, much better way to go about it than try to fight them on something they’re already mentally invested in.

[blue_sky]

I’ve developed a new approach for giving people advice, whenever they ask me about a stupid investment idea (including buying real estate at current prices in San Diego) the conversation goes something like this:

Person: “I found a company that’s offering me a 40% guaranteed return. They invest in XXX, which is [blah blah blah]”

Me: “Go for it, the worst that can happen is you get a 40% return”.

Person: “What do you mean?”

Me: “The best thing that can happen is you lose all your money, but you’re young so it doesn’t matter and you’ll learn to avoid these kinds of scams. If you actually do get 40% you’re one of the lucky ones at the start of this scheme and you’ll end up investing like this until you lose all your money later, at which point it will be more painful. So I suggest you get this learning experience out of the way now.”

Really makes people stop and think, much better way to go about it than try to fight them on something they’re already mentally invested in.

[blue_sky]

I’ve developed a new approach for giving people advice, whenever they ask me about a stupid investment idea (including buying real estate at current prices in San Diego) the conversation goes something like this:

Person: “I found a company that’s offering me a 40% guaranteed return. They invest in XXX, which is [blah blah blah]”

Me: “Go for it, the worst that can happen is you get a 40% return”.

Person: “What do you mean?”

Me: “The best thing that can happen is you lose all your money, but you’re young so it doesn’t matter and you’ll learn to avoid these kinds of scams. If you actually do get 40% you’re one of the lucky ones at the start of this scheme and you’ll end up investing like this until you lose all your money later, at which point it will be more painful. So I suggest you get this learning experience out of the way now.”

Really makes people stop and think, much better way to go about it than try to fight them on something they’re already mentally invested in.

[blue_sky]

I’ve developed a new approach for giving people advice, whenever they ask me about a stupid investment idea (including buying real estate at current prices in San Diego) the conversation goes something like this:

Person: “I found a company that’s offering me a 40% guaranteed return. They invest in XXX, which is [blah blah blah]”

Me: “Go for it, the worst that can happen is you get a 40% return”.

Person: “What do you mean?”

Me: “The best thing that can happen is you lose all your money, but you’re young so it doesn’t matter and you’ll learn to avoid these kinds of scams. If you actually do get 40% you’re one of the lucky ones at the start of this scheme and you’ll end up investing like this until you lose all your money later, at which point it will be more painful. So I suggest you get this learning experience out of the way now.”

Really makes people stop and think, much better way to go about it than try to fight them on something they’re already mentally invested in.

[blue_sky]

Signed and forwarded with my endorsement to > 10 people I trust will at least read it. Please do the same.

[blue_sky]

Signed and forwarded with my endorsement to > 10 people I trust will at least read it. Please do the same.

[blue_sky]

Unfortunately there really isn’t anyone to report it to. Here’s the relevant info from the secret service:

Due to a number of aggravating circumstances, such as the use of false names, addresses, stolen/cloned/prepaid cell phones and remote email addresses, verifying the location of and subsequent prosecution of these persons or groups is difficult. The act of sending an email soliciting strangers’ assistance in a financial transaction is not, in itself, a crime. The installation of a credible spam filter and contacting your Internet Service Provider may help deter these unsolicited emails. However, there is currently no available program to completely block these types of messages.

http://www.secretservice.gov/faq.shtml

See the section ‘How do I report a case of advance fee fraud (also known as “4-1-9 fraud”)?’

[blue_sky]

Unfortunately there really isn’t anyone to report it to. Here’s the relevant info from the secret service:

Due to a number of aggravating circumstances, such as the use of false names, addresses, stolen/cloned/prepaid cell phones and remote email addresses, verifying the location of and subsequent prosecution of these persons or groups is difficult. The act of sending an email soliciting strangers’ assistance in a financial transaction is not, in itself, a crime. The installation of a credible spam filter and contacting your Internet Service Provider may help deter these unsolicited emails. However, there is currently no available program to completely block these types of messages.

http://www.secretservice.gov/faq.shtml

See the section ‘How do I report a case of advance fee fraud (also known as “4-1-9 fraud”)?’

[blue_sky]

You’re welcome, and I’m glad you responded. I was more than a little worried you had already jumped on this. You wouldn’t be the first person to think they had found a good deal.

[blue_sky]

You’re welcome, and I’m glad you responded. I was more than a little worried you had already jumped on this. You wouldn’t be the first person to think they had found a good deal.

[blue_sky]

This is an excellent way to lose all your money AND (if you’re unlucky) go to jail at the same time. 2 for 1 deal, here’s how it works:

1. You cash a check (bank has to, by law, give you access to the funds within 5 business days, regardless of how long it takes them to actually get the money)
2. You remove the cash from your account (that’s what a money order is, the cash is GONE from your account and is now in a custodial account).
3. The check bounces. The money is removed from your account and you are responsible as a willing conspirator in the fraud.

http://en.wikipedia.org/wiki/Advance_fee_fraud#Fake_checks_and_check_cashing_scams

See also:

http://en.wikipedia.org/wiki/Check_fraud

Here’s a typical sob story, with luck you could get your 15 minutes of fame too, apply now!!

http://www.washingtonpost.com/wp-dyn/content/article/2006/05/31/AR2006053102004.html

Your exact “opportunity” is on page 2:

In February, about a year after Gaston had posted her résumé on a job-search Web site, she received an e-mail about a part-time opportunity: to work as a courier for money for an international charity that builds homes for people in disaster areas. Her assignment was to deposit local donations into her own bank account, wait for the checks to clear and then wire the money to another address. She was told she would be paid 7 percent of every donation check, with a guarantee of $500 the first week on the job.

[blue_sky]

This is an excellent way to lose all your money AND (if you’re unlucky) go to jail at the same time. 2 for 1 deal, here’s how it works:

1. You cash a check (bank has to, by law, give you access to the funds within 5 business days, regardless of how long it takes them to actually get the money)
2. You remove the cash from your account (that’s what a money order is, the cash is GONE from your account and is now in a custodial account).
3. The check bounces. The money is removed from your account and you are responsible as a willing conspirator in the fraud.

http://en.wikipedia.org/wiki/Advance_fee_fraud#Fake_checks_and_check_cashing_scams

See also:

http://en.wikipedia.org/wiki/Check_fraud

Here’s a typical sob story, with luck you could get your 15 minutes of fame too, apply now!!

http://www.washingtonpost.com/wp-dyn/content/article/2006/05/31/AR2006053102004.html

Your exact “opportunity” is on page 2:

In February, about a year after Gaston had posted her résumé on a job-search Web site, she received an e-mail about a part-time opportunity: to work as a courier for money for an international charity that builds homes for people in disaster areas. Her assignment was to deposit local donations into her own bank account, wait for the checks to clear and then wire the money to another address. She was told she would be paid 7 percent of every donation check, with a guarantee of $500 the first week on the job.

[blue_sky]

Not true at all, I recently went looking for rentals and most everything I found was not investors renting, it was people who had moved out to a new place (relocs, downsizing empty nest, etc), and they could not move their old house, so they rented it.

Makes for some sweet houses for rent, since they don’t have the rental degradation that tends to accumulate in detached homes that are serially rented.

[blue_sky]

Condo’s 50% off, news at 11!

[blue_sky]

Godwin’s Law strikes again!

[Author]

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