In this edition of Tuesday Morning Coffee John Jones explains how the Craigslist scams that have recently become rampant on Nashville Craigslist work and what to do if you come across an online scam.

Tuesday Morning Coffee is also available as an HD iTunes Podcast HERE or you can watch this episode on your iPad/iPhone HERE.

Transcript

JOHN:  Hey, guys.  John Jones with another edition of Tuesday Morning Coffee.  Kind of bummed out that the USA lost this past weekend, but I’m going to get over it.  But I thought they did a great job in the World Cup, and that was very exciting, especially from a guy that knows absolutely nothing about soccer.  I was really, really into that event, as I guess a lot of the country was.  But guys, what I’m talking about today is Craigslist scams.  Here’s something we’re experiencing right now in the real estate industry, and I just want to let you guys know about it so you can be very mindful of it.

Here’s how the scam works.  Scammers are combing legitimate websites finding properties for sale on real estate websites.  They’re actually for sale.  Usually properties in pretty good neighborhoods or a little bit higher-end neighborhoods with lots of pictures.  Then they’re putting a rental posting out there on Craigslist with these pictures at usually a very below market rent so it looks almost too good to be true.  They get people to call in on the properties and then it does two things.  They’re trying to get your money and they’re trying to get your identity.

So they’ll try to get you to go ahead and do an application so they can get social security numbers, things like that.  And they’ll also try to lure you in to secure the property, send them a deposit.  And this has been going on quite a bit.  If the potential tenant actually drops by the property, sometimes they’ll call on the real estate sign, which is out in the yard and that’s sometimes where the scam will end.  But if they don’t do that, then a lot of times these people are sending them the money and sending them a lot of personal information.

And the scam absolutely wreaks havoc on a person’s life.  So I just want you guys to know about it, kind of have an awareness of it.  Also, any of your friends, let them know what’s going on.  If you have been victimized by one of these scams, please call the Federal Trade Commission or go to their website at www.FTC.gov/complaint and please let them know about it.  But it has been very prevalent in the Middle Tennessee area, so be on the lookout for that.  Thank you guys, and we’ll see you next week.