How can I Flip Money, What is Money Flipping and is it Legit?

Flipping is risky enough without lowering your margins by borrowing. I’ve had a number of friends lose everything in 2008-9 because they were leveraging their real estate projects and then the recession hit. Also, I love the line, ” in your spare time!” Flipping is a lot of work and for me, it is a full-time job. Even the disastrous Fyre Festival used Instagram as its platform to prise money from people. One of the most popular scams on Instagram is ‘money flipping’ otherwise known as ‘get rich quick’. As a general rule, it is usually safe to assume that anyone who posts pictures of money or talks about investment opportunities is probably trouble.

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And this is A Mortgage Minute for the Average Joe. Today’s topic—illegal property flipping schemes. Before the recent mortgage meltdown, property flipping was a common way to make money in the real.
Aug 12, 2020 I’m in the middle of a real estate scam similar to your #4. My sister was the executor of my mother’s estate she listed my mother’s house for $85,000 'as-is' she signed a contract for a $83,000 from a flipping company.

Today’s topic—illegal property flipping schemes. Before the recent mortgage meltdown, property flipping was a common way to make money in the real estate business.

Like me you’ve probably been tempted by get rich schemes or quick ways of making money online which involve sending money to a stranger or investing your money in an online business and receiving a quick Return On Investment (ROI). These schemes usually target people who are struggling to make ends meet and need some extra money, fast.

Earn money online in android phone. However Money Flipping advertised through Social media sites such as Instagram, Twitter or Facebook are SCAMS. In this post I will discuss how the scam works and some legit ways of making money online that involve putting in some extra time and effort.

What is Money Flipping?

Flipping is a term used primarily in the United States to describe purchasing a revenue-generating asset and quickly reselling (or “flipping”) it for profit – usually real estate and initial public offerings (IPOs) which involves the sale of stock. This is perfectly legal.

Is Flipping Money A Scam Or Real Story

However Money Flipping online usually refers to a scam involving social media. You’ve probably heard of the Nigerian Prince scam right? It’s similar to that and is one of a variety called an advance-fee scam. It usually involves promising the victim a share of a larger sum of money, in return for you sending a smaller up-front payment, which the scammer requires in order to obtain the larger sum.

How you Flip Cash Online

You may have seen their ads where money flipping is advertised on Instagram, Twitter or Facebook and offers to help you double or triple your money or even turn hundreds of dollars into thousands. If that sounds too good to be true, that’s because it is.

Scammers claiming you can flip money online may suggest you make a payment through Western Union, Money gram, or Paypal. Alternatively, they may try to obtain your banking details by getting you to visit a website. They usually entice you into separating with your money by showing you images of pretty women holding wads of cash or flashy cars complete with lots of fake testimonials about how easy it is to make money, or they will show you a fake video of someone who benefited from the scheme and is counting the cash.

They will often claim to take advantage of quirks in the monetary system to leverage additional cash or claim to be able to hack Western Union, Green Dot or Money gram and double or triple your cash by manipulating the amount of money in their computer system. Don’t fall for it.

If you agree to go along with the scheme, they may ask to contact you via telephone or whatsapp. Once the scammer has your card details or you’ve made the payment, you get un-friended or blocked on the social media platform, and all communication is lost. Your money gone.

There’s a new variation on the flipping money scam. In the past, the scammers asked you to send the initial payment via prepaid debit card or wire transfers. However nowadays the victim isn’t asked to send money but to instead mail their physical debit card to the scammer as well as their PIN, so that a check can be deposited into their account. They are told that they will receive a percentage of the money made from the check to compensate for their trouble.

If you send them your debit card, you will often see a large deposit in your account. This will be followed by a large withdrawal. Unfortunately, the deposited check is a fake and you are left owing the bank money when the check comes back as a fraud.
The BBB is one of several consumer-protection agencies warning of the scam. Authorities in several other states also have posted warnings about flipping cash. The National Consumer League also warns about the scam on their website at fraud.org.

Tips to Avoid Online Scams

Do a quick search of the service or scheme using a search engine and add the keyword scam to the end. For example, “Western Union Money Flip Scam”. You could also search their username and phone number. Chances are others have posted about the scam.
Do not respond to anyone asking for your bank account information or pin or someone who wants you to send them your debit card through the post. Also don’t send money to strangers using Western Union or Money gram.
Do not assume your friends are sharing or liking scam posts as their accounts may have been hacked.
Check out the company’s website and make sure the content is up to date, that they have a business registration number, licensing information and an actual address.
Don’t fall for easy or quick money-making schemes and remember that if it was that easy to make money online everyone would be doing it.
If you feel that you have been a victim of a scam you should file a complaint with fraud.org

Legit ways of Flipping Money Online

Hopefully by now you realize that earning money online takes hard work and that there are no quick and easy ways of flipping money. Here are some ways of making money online that require some time and effort but will usually pay off in the end.

Domain Name Flipping
However you can still make money online by flipping website domain names. This can involve purchasing a website a sought-after domain name, holding on to it and selling it at a higher cost. To increase the value of the domain it can help to associate it with a website so that the domain has Doman Authority before reselling it. You can make a significant profit from doing this, but it takes time. A tip is to purchase short snappy domain names as these tend to sell for more. Also avoid domain name