anyone know if those get rich NO DOWN PAYMENT realstate kits are any good???

 

The only person that gets rich quick is the person selling the get rich quick program.

 

NO!

You need to visit www.johntreed.com. Check out the real estate investment guru ratings page

I am not into real estate, but John Reed is a baseball mentor of mine (I coach youth baseball). Other than John's interest in baseball, he is also heavely into real estate investing, and is a BIG consumer advocate for scam artist in the business. Check him out. VERY interesting reading.

 

I once got together with a co-worker and we sent away for a book called "The Royal Road to Riches", it cost us a few bucks each, and it promised to teach us how to become rich. The book came in the mail (it was a 20 page pamphlet) and we looked thru it and discovered the way to become rich was to do exactly what the author had just done to us, that is, advertise in order to reach millions of people, so that 1000's of people will spend 5 dollars each to buy your product.
The books main idea was to encourage the reader (me and the other suckers)
to offer for sale any idea or helpful knowledge that would be of interest to the general public; and by using cheap,widespread advertising, you were assured an income as long as you could make a small percentage of the millions of potential buyers take a shot at buying your product.

Carlton Sheets is doing exactly that, he is on TV and I guess radio, and in the back of Readers Digest shamelessly plugging his greatest guaranteed method to become a wealthy person. He has reached into the homes and minds of maybe 500 million people and asked for a small amount of money for the instruction books. If he made just ten dollars profit on each sale, and sold one million copies of his product then that is ten million dollars!!

Of course only 1 in 500 people were suckered into his trap, but he is at least rich, and maybe 10 of the people that tried his Real Estate investment techniques make any money.

 

I bought the program 8 years ago, NOT on the dillusion of getting rich from it, but more to aqcuire knowledge of getting ownership of real estate. I did not have the internet then, and I see now that everything he has in his program can basically be found free on any real estate investment site. I found the program does , as most get rich easy schemes do, have enough truth in it to make it believable , or at least eye/ear catching to the interested party. ...

I wil not say that the Sheet program is a total scam though. He is just using age old real estate purchasing methods, and inflating the outcomes to have more appeal to the prospective learner/purchaser. To me, the deception lies in the NO CASH DOWN aspect, and the supposed EASE at which the new real estate entrepenuer can acquire property, without having any experience at it..

He lists a LOT of ways to supposedly do this NO cash aqcuisition of property, but does not belay on the FACT that it will take a LOT of personal time, mileage, and HOURS of phone work, along with a smooth and alluring personally and line of BS about oneself. Attempting to do this real estate fortune gathering while trying to make a living, with whatever hours you may have left after chasing said real estate, is NOT a very realistic program . The program does have a lot of good tips on how to acquire real estate though..

My opinion is that his program eludes people in to thinking the fortune gathering is really as easy as he makes it out to be, by seeing his TV cutomers " success testimonials". I can see though, by using his techniques, that a person with a LOT of FREE time on their hands, a LOT of personal drive and commitment to it, could get a start in real estate investment, IF and IF, they had some cash up front, or a couple of investment partners. And even a that, the entrepenuer would need a financial lending institution that really knows them and trust them enough to go out on a limb for some of their purchases while they are flipping property for profits. ...


I know some millionaires personally that acquired their wealth through the world of real estate investing. It is still the strongest staple in a long term yield of investing. These millionaires I know started out as young married couples, or singles, bought a fixer'upper, flipped , made a profit, rolled on. All the time establishing a sound relationship with their banker, and as years passed they bought some apartments, flipped, kept some of them, money and equity building all the way. ...

I went to the John Reed site and after reading some of the attached links, he is a known seller of real estate fortune making magic books too. Also, the ad at the bottom of this screen will show a Sheets basher testimony, but if you will notice, even the basher has a link to SELL his way to make a fortune. It is a buyer beware society, proceed with caution, because everyone has something to sell they will tell you that you MUST HAVE to make you rich like them. It is how one does their R & D and acts on it, that will determine the outcome of the venture. So, Sheets is not totally full of sheet, just kind of putting in on a little thick at times. jmo

 

Greg pretty much covered it, Carlton is doing very well. I have the program. If you ask around, a lot of bankers are not into "no money down". And somewhere along the road you will have to repay the money you borrowed to buy a property with "no money down". Good luck. and save your money.

 

can you or Greg give us his best tips ?????????????????

 

Anyone who knows these super secret special easy ways to become a millionaire overnight is not going to share them with anyone. If these guys are so rich now from using these programs, why are they trying to sell them for money instead of just getting richer with the program. I know that if I came up with a way to do these sort of money making deals I sure wouldn't tell anyone that could give me competition and cut into my profits.

 

Great explanation Greg 79 f150, my brother bought a kit like that just as you did and basically came to the same conculsion.

 

These, "no money down," schemes basically mean not your own money down. I've looked through a few of the different plans. I've had a couple friends buy into it over the years.

Here's the "big secret" I saw in both - Don't spend your own money. Find a friend, relative, etc and have them take out a second mortgage, so you won't have to spend your own money. This makes them kind of a partner, (although I didn't see anything about paying them back or who makes the monthly.)

I had a little equity at the time, so I guess they thought I'd be an easy mark when both guys parents turned them down. I told them no, too.

The buy and flip is one way to do it, but like already stated - takes a lot of time.

 

It's the same with any of that stuff, including the grant books. A friend of mine got one of the Lesko books, he was less than happy with it, and I got a different one just as an information resource. It's all stuff you can find elsewhere, for free, and usually a more up to date version at that. I also went to a national grants conference, pretty much all I came away from that with was that if I gave them a grand, I had a shot at being like one of the people they showed on the projection screen. I decided that I'd be happier with a grand in my pocket, and dealing with getting any grants on my own. In the long run, you come out ahead doing your own footwork.

 

If it worked he would be doing it for himself, not selling video tapes. Simple as that.

 

There are some interesting responses in this thread. His course worked for me but it took a few years to get the courage to put his methods to use. If there is one key ingredient required to succeed with his material (or with anyone elses)...it's GUTS pure and simple. Most people are not willing to take the risk after completing the course and to those folks I say...THANK YOU. Personally, I hope CS never sells another course as I don't need the competition. The course is no scam, BUT only a small percentage of people will succeed with it. As of 30 March 2005, I have reached millionaire status. I own 5 investment properties plus the home I live in, and have reached the point where I can purchase a new unit every month. DON'T BUY THIS COURSE!!!!!

 

2 things bother me about "get-rich-quick" real estate plans. They always tell you to look for "distress-sale" properties, so you can buy low-sell high. 1) If the owner can't sell it for good money to anyone else, what makes you think you can? 2) This forces you to be on the look-out for people that have to sell their home NOW. They lost thier job, their spouse died, or they just don't know what their property is worth. Taking advantage of other people's misfortune (or their ignorance) is NOT how I'd want to earn my living. Any one else feel the same way?

 

I buy only turn-key properties in nice neighborhoods, usually in the 80-120k price range. Distressed properties are only 1 type and are a gold mine for those willing to fix them up. Many distressed properties are bank forclosures and the families don't live in them any more.