anna_returns_1 Posted October 17, 2021 Report Share Posted October 17, 2021 INVESTING SCAM ALERT: Please forward to all your friends in the US. **** There are some realtors in the US Indian American community who are wholesaling Texas farmland and promising huge returns to unsuspecting investors and pocketing their money. It a 'get rich quick' scheme. This is how it works. They buy large acreage farmland for $X from a seller, and tell individuals they bought it for them at $Y. They will pocket the difference. They will not disclose to them who the original seller is or what price they bought it at. They make quick money in the process because Y can be anywhere from 1.5 to 2 X. They will make you believe that they actually bought it at Y from the seller and are just passing on the price. There will be no transparency in the contracts. They know their investor's hard earned money will not stretch far enough for the large amount. So they will make them to get a loan from a bank using their hard earned credit. The individual investor will be stuck with land that they paid upto twice the value and a mortgage for a couple of years. The investors will only make any money if the value of the land sky rockets in a couple of years. As an example: The group buys 1000 acres at the rate of $5K per acre. They will tell a jacked up price to the investors, say $9M. They will pocket $4M. If an investor purchases 100 acres, he/she will pay $900K at the rate of $9k per acre, by putting a down payment of $300k and taking a loan payment of $600k. The investor will now have a piece of land worth $500K, for which he paid $900K, and a ton of ‘HOPE’ that it will go upto $18K/acre in 2-3 years. They will wish them "congratulations, Good luck", and move on to the next set of unsuspecting investors. There are several doing this especially in the telugu community. Here are a few, but there are many more. Prathap Gonuguntla RaviShanker Patel Chandra Ponnapureddy Kamlakar Poonuru VaraPrasad Challa Kotha Appalasuri Please spread this message before it is too late, or the FBI starts knocking on doors. Many of the investors dont even realize they have been scammed. As a service to your community, forward the message and help your folks. ***** know couple of people who got sucked it into such ventures. Not saying they incurred losses but you never know. Please be aware and spread the word. Better to be safe than sorry. Quote Link to comment Share on other sites More sharing options...
MysoreJackson Posted October 17, 2021 Report Share Posted October 17, 2021 one month back na frnd valla frnd brother came with same scheme ... he conferenced me to a meeting, he was always we are passing one same rate ani akkade doubt vachindi Quote Link to comment Share on other sites More sharing options...
RunRaajaRun123 Posted October 17, 2021 Report Share Posted October 17, 2021 People who earn money this way, I hope you reach Hell in Express lane and their kids don’t get a penny out of this scam money. Quote Link to comment Share on other sites More sharing options...
manadonga Posted October 17, 2021 Report Share Posted October 17, 2021 14 minutes ago, anna_returns_1 said: INVESTING SCAM ALERT: Please forward to all your friends in the US. **** There are some realtors in the US Indian American community who are wholesaling Texas farmland and promising huge returns to unsuspecting investors and pocketing their money. It a 'get rich quick' scheme. This is how it works. They buy large acreage farmland for $X from a seller, and tell individuals they bought it for them at $Y. They will pocket the difference. They will not disclose to them who the original seller is or what price they bought it at. They make quick money in the process because Y can be anywhere from 1.5 to 2 X. They will make you believe that they actually bought it at Y from the seller and are just passing on the price. There will be no transparency in the contracts. They know their investor's hard earned money will not stretch far enough for the large amount. So they will make them to get a loan from a bank using their hard earned credit. The individual investor will be stuck with land that they paid upto twice the value and a mortgage for a couple of years. The investors will only make any money if the value of the land sky rockets in a couple of years. As an example: The group buys 1000 acres at the rate of $5K per acre. They will tell a jacked up price to the investors, say $9M. They will pocket $4M. If an investor purchases 100 acres, he/she will pay $900K at the rate of $9k per acre, by putting a down payment of $300k and taking a loan payment of $600k. The investor will now have a piece of land worth $500K, for which he paid $900K, and a ton of ‘HOPE’ that it will go upto $18K/acre in 2-3 years. They will wish them "congratulations, Good luck", and move on to the next set of unsuspecting investors. There are several doing this especially in the telugu community. Here are a few, but there are many more. Prathap Gonuguntla RaviShanker Patel Chandra Ponnapureddy Kamlakar Poonuru VaraPrasad Challa Kotha Appalasuri Please spread this message before it is too late, or the FBI starts knocking on doors. Many of the investors dont even realize they have been scammed. As a service to your community, forward the message and help your folks. ***** know couple of people who got sucked it into such ventures. Not saying they incurred losses but you never know. Please be aware and spread the word. Better to be safe than sorry. Id eppudo one month back vqchhindi vallu business plan gane chestunaru anta idi forward chesi court cases lo irrikovaddu vallu court ki kuda vellaru anta evaro defame chestunaru kavalani Quote Link to comment Share on other sites More sharing options...
Netflixmovieguz Posted October 17, 2021 Report Share Posted October 17, 2021 We all know one of these. Stocks group loo zoom petti maarri chesaadu. Same person was kicked out of the free stock group for copying the alerts into a stock subscription service he is running. beware guys…when signing up for stock subscription service or such easy money making schemes 1 Quote Link to comment Share on other sites More sharing options...
mirchi_bajji Posted October 17, 2021 Report Share Posted October 17, 2021 i dont get the issue here. they bought land and are reselling at higher price. issue might be that they were lying about how much they initially got it for. its upto you to understand what is the right price to invest kada. Quote Link to comment Share on other sites More sharing options...
Moon_Walker Posted October 17, 2021 Report Share Posted October 17, 2021 Telugu tejaalu ekkadikipoyina aa deshaniki garva kaaranam avuthaaru...jaathi rathnaalu ante manolle... 1 Quote Link to comment Share on other sites More sharing options...
hunkyfunky2 Posted October 17, 2021 Report Share Posted October 17, 2021 This WhatsApp message is going around for last couple of months.. If they lied that they are passing at same rate - you are fool to believe. What most are doing is - they have a agreement with a seller for a larger property and they try to divide and find buyers for parts as they don't have enough cash. Some times they act as seller agent and also collect other fees ... Quote Link to comment Share on other sites More sharing options...
iddaritho Posted October 17, 2021 Report Share Posted October 17, 2021 Banks are not fools to give loan to an amount that is half the price A business man will always try to make profit 1 Quote Link to comment Share on other sites More sharing options...
yemdoing Posted October 17, 2021 Report Share Posted October 17, 2021 I was almost invited to this scheme , lucky ga I ghosted them Quote Link to comment Share on other sites More sharing options...
kidney Posted October 17, 2021 Report Share Posted October 17, 2021 dhennae Ind lo Real Estate yaparam antaru Quote Link to comment Share on other sites More sharing options...
hunkyfunky2 Posted October 17, 2021 Report Share Posted October 17, 2021 1 hour ago, iddaritho said: Banks are not fools to give loan to an amount that is half the price A business man will always try to make profit That's why small investors are asked to pay 50% cash. Main investor has other properties / cash to give as collateral for banks and they are happy to give loan at higher % rate - they don't have any risk. Quote Link to comment Share on other sites More sharing options...
Biskit Baburao Posted October 17, 2021 Report Share Posted October 17, 2021 2 hours ago, yemdoing said: I was almost invited to this scheme , lucky ga I ghosted them me too Quote Link to comment Share on other sites More sharing options...
abulu Posted October 17, 2021 Report Share Posted October 17, 2021 11 hours ago, anna_returns_1 said: INVESTING SCAM ALERT: Please forward to all your friends in the US. **** There are some realtors in the US Indian American community who are wholesaling Texas farmland and promising huge returns to unsuspecting investors and pocketing their money. It a 'get rich quick' scheme. This is how it works. They buy large acreage farmland for $X from a seller, and tell individuals they bought it for them at $Y. They will pocket the difference. They will not disclose to them who the original seller is or what price they bought it at. They make quick money in the process because Y can be anywhere from 1.5 to 2 X. They will make you believe that they actually bought it at Y from the seller and are just passing on the price. There will be no transparency in the contracts. They know their investor's hard earned money will not stretch far enough for the large amount. So they will make them to get a loan from a bank using their hard earned credit. The individual investor will be stuck with land that they paid upto twice the value and a mortgage for a couple of years. The investors will only make any money if the value of the land sky rockets in a couple of years. As an example: The group buys 1000 acres at the rate of $5K per acre. They will tell a jacked up price to the investors, say $9M. They will pocket $4M. If an investor purchases 100 acres, he/she will pay $900K at the rate of $9k per acre, by putting a down payment of $300k and taking a loan payment of $600k. The investor will now have a piece of land worth $500K, for which he paid $900K, and a ton of ‘HOPE’ that it will go upto $18K/acre in 2-3 years. They will wish them "congratulations, Good luck", and move on to the next set of unsuspecting investors. There are several doing this especially in the telugu community. Here are a few, but there are many more. Prathap Gonuguntla RaviShanker Patel Chandra Ponnapureddy Kamlakar Poonuru VaraPrasad Challa Kotha Appalasuri Please spread this message before it is too late, or the FBI starts knocking on doors. Many of the investors dont even realize they have been scammed. As a service to your community, forward the message and help your folks. ***** know couple of people who got sucked it into such ventures. Not saying they incurred losses but you never know. Please be aware and spread the word. Better to be safe than sorry. So ipudu 1 million ki koni 2 million ki konnanu ani chepi they divided those 100 acres among people? So that's common in real estate business kadha. Tapu emundi dantlo?? I mean mosam emundi.. oka medicine ikada 100$ vesthadu manufacturing cost 10$ avundhi. Quote Link to comment Share on other sites More sharing options...
hunkyfunky2 Posted October 17, 2021 Report Share Posted October 17, 2021 9 minutes ago, abulu said: So ipudu 1 million ki koni 2 million ki konnanu ani chepi they divided those 100 acres among people? So that's common in real estate business kadha. Tapu emundi dantlo?? I mean mosam emundi.. oka medicine ikada 100$ vesthadu manufacturing cost 10$ avundhi. From pure business sense, yes you are right. Only issue is that buyer is assuming he is getting wholesale rate - and some times they are paying 4 times the prevailing rate and they are far away from development. In USA land prices don't appreciate that fast, even in most urban areas so they are stuck. That's the issue Quote Link to comment Share on other sites More sharing options...
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