People lost lots of money in tiny-home alleged fraud, so if you plan to buy one, here are 3 useful things to know.
And as the market grows, so does fraud. For example, several dozen Californians who recently wanted to acquire their much-coveted tiny homes fell victim to their own gullibility, allowing the developer to collect a shocking amount of credit from them—and in return, built nothing. Absolutely nothing.
The story we have for you today was first investigated by journalists from Team 10 on ABC News in San Diego. The team got in touch with Victoria Krivogorsky, a San Diego State University business professor who wanted to provide herself with a cozy and beautiful house after retiring. The professor was inspired by anMoreover, she borrowed loans from three lenders at once—but time passed, and the site where her future tiny home was supposed to be built remained just a bushy wasteland.
In fact, there are not many key factors when investing in new real estate, just three: transparency, choice of lender, and control over funds. And what does this mean in particular? 2. Choice of lender—If you are offered a loan by multiple lenders, or strongly recommended to an unfamiliar company, think twice. Better yet—thrice, and even better—refuse right off the bat. As a last resort, contact banks that you trust and with which you have a long history of working together.3.
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