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Building Your Real Estate Portfolio? Don’t Get Scammed

Can you imagine going to close on the new building you’re purchasing to expand your business or an investment property to start your real estate portfolio only to learn that your down payment and/or closing funds have disappeared? It’s hard to imagine, but it’s happening now more than ever. Hackers are infiltrating just about every industry at an alarmingly fast rate and scams are now prevalent in the real estate industry targeting money being transferred during the closing process of a real estate transaction.

This type of scam is known as wire transfer fraud. While scammers use various methods like…

What is a REIT?

A Real Estate Investment Trust, commonly referred to as a REIT, is a corporation that owns commercial real estate or mortgages.  One of the main reasons to invest in REITs is for the income they produce. For a corporation to be classified as a REIT by the IRS it has to return 90% of its taxable income back to its shareholders.

REITs have been in existence for more than 50 years and can be publicly traded on exchanges (there are more than 200 such companies) or private corporations, of which there is more than 1,100. Publicly traded REITs have a…

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