I subscribed to many email newsletters by marketers that I love learning from.
A few days back, one guy shared his story of getting scammed out of $82,000 by a contractor.
This guy is not from India, so the currency is in dollars.
Even though this story is from a different country, I believe this is relevant here as well.
This guy paid a contractor $82K to construct a 30% pool in his house.
The contractor collected the payment and just disappeared.
He is nowhere to be found.
After some research, he discovered this contractor’s main job was scamming people.
He basically creates new companies and scams 2-3 people and creates new companies.
That’s all he does.
What can you learn from this lesson?
Any money paid in Advance is a risk of losing it.
Especially to an unknown person who doesn’t have other contacts or physical address to reach him.
While constructing your house, many contractors will show up in front of your building.
All they ask is to pay some ADVANCE amount.
I recommend not paying a single rupee Advance to contractors who you don’t know personally or don’t know their shop’s physical location, or have not yet started your work.
No matter what.
Even paying ₹500 or ₹1000 advance is not worth risking it.
What is the point of paying when they haven’t delivered any work yet?
I have encountered a few such requests to pay them a token advance.
I reject such offers from contractors and recommend everyone do the same.
I will share a few such incidents later.
My house construction tracking system doesn’t help in protecting the above incident. But it does help in protecting known contractors behaving differently to get extra payments.
Know the method and protect dealing with future headaches.
Get it here: