Real Estate Investors who are successful and have amassed a nice portfolio followed a "Code of Ethics." The stories you hear of Real Estate Investors going to jail or are in the news for fraud did not follow a "Code of Ethics."
Although there are no established, in writing "Code of Ethics" for Real Estate Investors, the "Code" is very clear. Our "Code" is "Common Sense", eliminating the Deadliest Capital Sin - Greed. Every business needs to make a profit in order to grow but there is no reason to be greedy.
Ex: When closing a Short Sale and selling it off, there is no reason to sell it for FULL fair market value. Leave equity in for the next person and it will sell faster. If a deal is appraised at $175K, you buy it for $100K, sell it for $135K. You make a $35K profit and leave $40K in equity for the buyer. It sells faster and you receive your money quicker. I would rather sell it quick like this example than struggle to sell it at FMV where it will sit longer.
Real Estate Investing is not a get rich quick business! It is long term wealth building! POUND this idea into your head if you need to.
Real Estate Investors have an obligation to be fair and uphold the highest integrity in every transaction. We use disclosures and letters of understanding signed by sellers so they know what is going on in the transaction. Why do it any other way?
Nouveau Riche put together a 50 minute video titled Ethics and Disclosures: The Duty of Fairness and Integrity in Real Estate Transactions. All students MUST view this video prior to registering for classes.
Everyone is talking about the real estate market in a negative way. We FOCUS on being positive. Our education provides us the ability to grow our long term wealth in EVERY market. Up, down, sideways, backwards, in reverse, it does not matter. Successful investors treat it as a business long term and uphold "common sense ethics" and integrity!
You can view a PDF file by following this link:
ttp://college.nouveauriche.com/pdf/EthicsandDisclosures.pdf
Are you upholding your Code of Ethics and Integrity?
Tony
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