Monday, February 9, 2015

Good Advice for $3.99

Looking back at some of the advice that I wrote about in Meet Wally Street - The Reason You're Stupid has turned out to be right on the mark. One of the main things that I tell people not to invest in are Non-Publicly Traded REIT's. Lo and behold, a major Non-Publicly Traded REIT overstated their income by about $23,000,000 last year. Their CEO had to resign and shareholders were left holding the bag. As I describe in my book, these are investments created by Wall Street to benefit the people who work for the Non-Publicly Traded REIT, not you. That's a fact, Jack.

It is the wild, wild west as far as regulations go with these Non-Publicly Traded REIT's. They ordinarily price the REIT themselves. You see, it really doesn't matter what they say the price is, because you are not going to be able to get your money out of it for at least 10 years anyway. Investors in Non-Publicly Traded REIT's sink their money into an illiquid investment for 10 years or more where they send you phony valuation statements all along, then later you might get a small portion of your money back if you are lucky. Let's see. The guy who sold you the damn thing makes off with 8.5% in commissions. The General Partners make off with another 11 - 13% right off the top, so you are already down 20% from day one. Not to worry, these guys running this REIT have lots of experience in Real Estate. This actually means that they are good at pulling the wool over people's eyes and taking their money. Are you one of them? I hope not.

FINRA, the organization who regulates the Non-Publicly Traded REIT industry has some good tips on their web site. This amounts to an Investor Alert that you should read. Who reads or knows about these tips from FINRA? Did you know that FINRA issues these investor alerts? That's what I thought. Here is the link by the way: FINRA Tip Sheet on REIT's.

I'm telling you. Investing $3.99 for a copy of my eBook is a great investment in your future. You can buy it here: Meet Wally Street. If you read it, then you will be better educated about what is really going on in regard to financial advice. I trust that you do read it. You'll be smarter for it.