Burt M. Polson - Commercial Real Estate Broker

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How to spot a scam in ten steps or less

No one wants to be taken advantage of, but there are plenty of unscrupulous people who want your money and are devising ways to get it.

Scam artists, unfortunately, have always been around us. In the past, they may have been easier to spot, but they are getting craftier and to me in more abundance.

Here is my list of how to spot a scam in ten steps or less:

Step 1 - the unconventional transaction

An unconventional method of executing the transaction could be the first sign of a scam. If the first question you ask yourself is, “That’s a strange way of doing that?” you should probably stop there.

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NAPA, CALIF. — Sunstone Hotel Investors Inc. has completed the disposition of the 274-room Marriott hotel in Napa. The property sold for $36 million. Sunstone estimates that the hotel would require approximately $6 million in near-term renovations to comply with Marriott brand standards. The gross proceeds of $36 million, plus the $6 million of renovations that Sunstone will not have to spend, equates to a 10.5x 2009 EBITDA multiple. The buyer was not disclosed.

-Western Real Estate Business, July 2009

Trust Buys Napa Land for $10 Million

Investor Sells 6 Acres at 2355 California...Hu Family Trust purchased a 6.11-acre site at 2355 California Blvd. in Napa for $10.28 million, or approximately $1.68 million per acre.  The property includes a single structure of 65,413 square feet occupied by Albertsons. Ground lease is for 20 years with 16 years remaining.  Thomas Lackovic of Thomas Lackovic and Associates in Campbell represented the buyer. Kase Abusharkh of Sperry Van Ness in Danville represented the seller.

Source: CoStar Group

An ACRES Real Estate Services, Inc. Company