I was watching an informercial about people who buy realestate for practilcally no money then turn around and make a big profit. Has anyone ever tried this and does it actually work?
Simply put, NO The reasons why are as numerous as the stars in the sky. That said, the success of the limited few people that did buy someones program was because it made them go out and do something pro-active. Most courses have some good tips and ideas in them but no course works in every market. Motivated sellers are key to success when using one of the creative purchasing methods many courses promote. The variety of skills required to make a profitable career in real estate investing takes time to develope. You might be a great people person and have greater success than a technical expert with little rapport ability. Most everything one needs to learn is free at your local library. A course often has its greatest value in its ability to motivate one into action. The proper action to take will vary from situation to situation. Your deals will never match the examples found in any course. I know whats in most courses as I have had guests at my own seminars bring theirs so we could edit out the garbage. In most cases the entire course ended up in the trash can. Go to a local real estate investment club meeting and take on a mentor.
November 12th, 2009 at 5:47 pm
It works well for those putting on the infomercial.
References :
November 12th, 2009 at 6:13 pm
Informercials are actors hired by a company to do testimonials on products that are suppose to work but often don’t. The reason? The whole idea is for you to place an order for the products because that is the money the company is making. The products themselves usually are nothing more than information.
References :
16 yrs real estate
November 12th, 2009 at 7:00 pm
Well, if you have some money to start your investment. That part they don’t tell you. Then what they do is leverage each property to get money to buy the next. You really need to understand finance, investments and capital. But to being you do need money. For example if you purchase a home for rental property, you will need approx 20% down payment. It will be a commercial loan, not a home loan. And if you claim it as a home loan, it’s fraud. So let’s get that out there now.
People also think it is easy to buy foreclosed properties, it isn’t, it’s a bidding process and most of the homes are in need of repair, some serious repair. An example last year a family moved out after losing the home, they turned the water on in the basement (it was winter ) and left. Extreme damage to home. So hope I’ve helped.
References :
November 12th, 2009 at 7:15 pm
yes it does…even im a real estate agent…working as a brooker…i have alot of experience in this kind of work….even my company did a commercial advertisement on the t.v n we got a good respons….u know ppl buy a piece of land n when the price goes up,they sell it n get a good profit…
i live on india which is very fast developing country….the demand for real estate is growing very single day!
References :
November 12th, 2009 at 7:23 pm
See johntreed.com – he reviews most every real estate guru and shows why their plans are flawed.
References :
November 12th, 2009 at 7:47 pm
They work very well indeed.
The folks who sell their books, tapes, CD’s/DVD’s and other paraphernalia make lots of money from selling their books, tapes, CD’s/DVD’s and other paraphernalia to people who wonder if it really works.
Many of the late night real estate guru’s end up in prison for fraud, etc. Just google a few of their names and you’ll find some very interesting information.
References :
November 12th, 2009 at 7:57 pm
Simply put, NO The reasons why are as numerous as the stars in the sky. That said, the success of the limited few people that did buy someones program was because it made them go out and do something pro-active. Most courses have some good tips and ideas in them but no course works in every market. Motivated sellers are key to success when using one of the creative purchasing methods many courses promote. The variety of skills required to make a profitable career in real estate investing takes time to develope. You might be a great people person and have greater success than a technical expert with little rapport ability. Most everything one needs to learn is free at your local library. A course often has its greatest value in its ability to motivate one into action. The proper action to take will vary from situation to situation. Your deals will never match the examples found in any course. I know whats in most courses as I have had guests at my own seminars bring theirs so we could edit out the garbage. In most cases the entire course ended up in the trash can. Go to a local real estate investment club meeting and take on a mentor.
References :
November 12th, 2009 at 8:47 pm
One time, I spoke before a professional group. They had their meeting before I spoke. Not being a member, I waited outside the room until it was time for me to start.
In the conference room next door was one of those "Become A Gazillionaire Through Real Estate" type retreats. These were people who had spent big bucks to rub elbows with the infomercial people. Several came over and tried to talk me into signing up for the program, as real estate was the way to wealth and the program had the magic secret.
When I was done with my program, one of them asked me if I could give him a ride back into the city. I declined. I saw two others waiting for the bus on my way out.
Enuf said? These people could not even afford a cheap car. (This is Atlanta. Everyone has a car.) If they waited tables they would have enough money for a car. Gazillionaire my stars.
But I was parked next to the only Maybach I’ve ever seen in my life. The owner let me sit in it. OMG was it nice. And whose car was that? The guy selling the books at the retreat. It was his program these other people spent all their money on. If he could have afforded that car on what he earned in Real Estate, would he be spending a hot summer’s day at the Cobb Convention Center in suburban Atlanta? No way. The only reason he was there is the program was the only thing funding his Maybach lifestyle.
Now, if you’re still not convinced, and you want to ride a bus to a place you can give someone money so he can buy a Maybach, I’ll give you my address and the bus schedule showing you how to get here!
References :
November 12th, 2009 at 9:16 pm
If it worked they would be doing it. Most of those schemes worked in the 80’s and 90’s but much of that stuff is no longer legal.
Every bit of information you get is valuable, so go ahead and read up. But you can probably buy the tapes on an on-line auction site cheaper used.
Read this!
http://www.turnkeyproperties.org/custom2.php
Keep in mind most agents get paid on a commission basis, the more you pay the more they make. So don’t think they are working for you.
References :
http://www.turnkeyproperties.org/custom2.php