| Ethics in Real Estate Investing |
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| Written by Vena Jones-Cox |
 I read something in an association newsletter a few months back that sort of shocked me. It was an article reprinted from author John T. Reed’s Website which reads in part, "They [the nothing-down gurus] claim to love seller financing because sellers are 'flexible'. But in that context, 'flexible' is just a euphemism for stupid. The seller-financing aspect of nothing down is generally unethical ...because it takes unconscionable advantage of an unsophisticated person." Reed wraps up with the interesting statement that "...the nothing-down movement consists mainly of a bunch of slime balls running around trying to find unsophisticated homeowners, typically little old ladies, and bamboozling them into trading valuable real estate equity for a near worthless piece of paper."What surprised me about this article was not that Reed wrote it, but that it was published without comment. I thought, “Is the reputation of real estate investors is so pathetically tarnished that we've just started accepting that we're slime balls?”. Which got me thinking about a code of ethics for real estate investors, which scared me, because it sounds like the first step toward a slippery slope of regulation, licensing, and government intervention that none of us want. So the answer has to be deciding on a code of ethics for our businesses, and then sticking to it even when it costs us money. Read Full Article
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