OUT OF STATE INVESTORS WHO HAVE BEEN RIPPED OFF BY INVESTING IN RENTAL PROPERTIES IN ST. CLAIR COUNTY, ALORTON, CENTREVILLE AND CAHOKIA, ILLINOIS, METRO EAST, BELLEVILLE, ST. CLAIR COUNTY, ILLINOIS LAW FIRM REPRESENTING INVESTORS WHO HAVE TAKEN ADVANTAGE OF IN REGARD TO PURCHASING RENTAL OR OTHER PROPERTIES IN ST. CLAIR COUNTY, AVAILABLE TO REPRESENT ALBION, EDWARDS COUNTY, MOUNT CARMEL, WABASH COUNTY, OLNEY, RICHLAND COUNTY, ILLINOIS. WE HAVE REPRESENTED A VARIETY OF INVESTORS, INCLUDING, BUT NOT LIMITED TO, OUT OF STATE INVESTORS FROM PENNSYLVANIA, NEW YORK, LAS VEGAS, CALIFORNIA, COLORADO, WHO HAVE BEEN TAKEN ADVANTAGE OF, SOMETIMES IN REGARD TO SEMINARS THEY ATTEND OR HEARD OF IN LAS VEGAS WITH RESPECT TO CERTAIN RENTAL PROPERTIES PURCHASED IN ST. CLAIR COUNTY, SOMETIMES IN BELLEVILLE, CENTREVILLE, ALORTON OR CAHOKIA. IN MANY INSTANCES, THOSE INVESTORS OVERPAID FOR THE PROPERTIES, THEY OBLIGATED THEMSELVES TO FUTURE AMOUNTS, THE RENTAL PROPERTIES MAY BE IN NEED OF REPAIR, IF THEY ARE EVEN HABITABLE, THERE ARE EXCESSIVE MANAGEMENT FEES, THERE ARE ISSUES WITH TENANTS IN REGARD TO COLLECTING RENT AND THERE CAN BE EXTREMELY HIGH REAL ESTATE TAXES.
Out-of-State investors we have represented who have been taken advantage of or ripped off by so-called investments in regard to rental properties in St. Clair County include realtors from the State of California who happen to attend investments seminars in Las Vegas, Nevada. As it has been explained, there is much hype in advertising. Once the attendees at the seminars are whipped into a state of financial frenzy they are supposedly released to representatives who then represent to them they are getting a good deal for a bargain price and that the so-called investment represents a sound investment for the future, including their families. In most situations, that is not the case. In regard to clients that have contacted us over the years, sometimes the purchase price paid is greatly in excess of the fair market value. Further, there usually is no due diligence by the investor in regard to the area where their property is located. For example, sometimes they are told that the area is part of metropolitan St. Louis, is located near a Metro Link and other positive attributes intended to have the unsuspecting investor believe they are making a sound investment for the future. We has an investor from the State of California that lost over $100,000.00 in regard to a rental property she purchased in St. Clair County for $60,000.00.
Blake Behme Gilbreth Links, P.C.
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