Re: Taking shortcuts will get you in the end-- Must read for Newbies! - Posted by SCook85
Posted by SCook85 on March 13, 2000 at 17:43:35:
Most of the types of deals that are discussed on this board are all legitimate deals. It is the way that we fill in the gaps to get the deals done that makes them unethical.
Creating notes and selling them simultaneously is not illegal.
Telling the notebroker that the buyer put down 10% when they didn’t, having the appraiser push the value so you can get the seller what they are looking for are examples of unethical practices in which you are cheating the note buyer. If you combine these methods along with your note business then you would be taking a shortcut.