Real Estate Programs

[JamesK]

Every night I see a ton of TV show ads on how to make cash with real estate programs. Programs like "Winning In The Cash Flow Business" by Russ Dalbey, "NO DOWN PAYMENT Program" by Carleton Sheets, "Multiple Streams of Income" by Robert Allen. I'm thinking about purchasing one of these programs and wanted to know if anyone already has and their feedback on it.

 

[solidg]

Waste of money. There is no easy way in real estate. Im a agent I know.

 

[Moderate_THIS]

I've got an iceberg in Phoenix you may be interested in

 

[bran987]

james:

start here to get a ton of FREE information so you can make an informed decision.

http://www.creonline.com/

 

[JamesK]

Thanks, there is a ton of great info there.

 

[Burning_Inside]

First off solidq is respectfully full of shit. I worked with an older guy when I sold timeshares who had a wife that bought the carlton sheets course and turned 3 houses over for profit in like 6 or 8 months time i think it was. She had no college or real estate background. I've also run into someone who went the russ whitney route. Payed 2 grand for a 3 day course, learned a whole shitload of useful shit and put it to some good use. In fact there were real estate agents at the classes. If i had the money and time to take the classes if they ever came around my area I'd go. He said the russ whitney guys will pretty much hold your hand if they have to to get you to buy a home for profit. And you get free tech support if you have any questions on anything, ever. You think those people at those russ whitney success gatherings they hold are all actors? Nigga please.

 

[powerforward]

for a novice, these programs/books aren't bad. they get you thinking outside the norm when it comes to financing and creative selling.
the creonline.com website is a great suggestion(ton of good info there.)

 

[solidg]

Unless you have a 700 credit score? How the hell are you going to buy with 0% down?
It is a requirement of mortgage companies that you must put 20% for invesment properties. There are ways to get around this though, but you would have to be dishonest.

 

[Burning_Inside]

Unless you have a 700 credit score? How the hell are you going to buy with 0% down?
It is a requirement of mortgage companies that you must put 20% for invesment properties. There are ways to get around this though, but you would have to be dishonest.

Dude without soundling like a cock here, have you ever even taken a look at these programs or gone to any of the classes that they offer, that is, if the course offers them? Ever hold a conversation with someone who has been through it and had it work for them? From what I've been told it's not about finding any house and saying ok i want it, it's about more or less finding people who neeeeeeed to sell, then using a whole slew of different tactics to take it off their hands below appraisal and turn around for a quick sell. You oftentimes don't need jack shit in credit.

 

[bran987]

it's 10% investor required now not 20% but you can get around that too with creative methods

*EDIT and by creative I don't mean dishonest. There's just no way to go into all this in an EF thread.

 

[JamesK]

So, actually what about "Winning In The Cash Flow Business" by Russ Dalbey? Off the site

Here's how it works...

Sue Seller sells her $100,000 home. There is an existing first mortgage of $50,000 and $50,000 in equity. Bill Buyer purchases the home by assuming the first mortgage of $50,000 from the bank and puts down $20,000 (50,000 plus 20,000 = 70,000 where's the other 30,000 dollars owed?).

Here is the other $30,000: Sue reluctantly carries back a cash flow note. This is called a second trust deed or mortgage note or seller financed note, which is secured by her property, for $30,000 payable over 20 years at 8% interest, paying $250.93 each month (now this happens every day in every town across America -- there are over billion and billions of dollars worth of these notes and growing).

So, Sue now holds a real estate note that is secured by the property. Now, what we do is solve Sue's dilemma by negotiating the sale of her $30,000 cash flow note at a discount. Remember, she didn't want the cash flow note in the first place, right!. She wanted all cash. I will show you how to approach Sue and have her thank you for buying or referring her $30,000 cash flow note for some times as little as $15,000 or 50 cents on the dollar. Now, Sue is happy, you are really happy, and as I will show you shortly - it is a win / win situation for everyone!

Negotiate cash flows at a discount!!! I am going to reveal to you how to negotiate them for as little as $.50 on the dollar. You either keep the real estate cash flow note for yourself or refer it to an investor for a quick cash profit.


The Incredible Referral Opportunities That Exist!
You could refer Sue's real estate cash flow note to an investor by listing it on our site. And in this example lets say an investor would pay $.70 on the dollar for Sue's $30,000 note. Remember, you negotiated from Sue to purchase it at $.50 so you will keep the $.20 difference. That will be a whopping $6,000 (.20 X 30,000 = 6,000) for simply finding Sue and referring her to an investor on our web site - And, you have no out of pocket expenses whatsoever. Of course, the prices will vary depending on each note deal.

So investors are waiting to purchase the note you find?

 

[solidg]

Dude without soundling like a cock here, have you ever even taken a look at these programs or gone to any of the classes that they offer, that is, if the course offers them? Ever hold a conversation with someone who has been through it and had it work for them? From what I've been told it's not about finding any house and saying ok i want it, it's about more or less finding people who neeeeeeed to sell, then using a whole slew of different tactics to take it off their hands below appraisal and turn around for a quick sell. You oftentimes don't need jack shit in credit.

Ive gotten and looked at the carlton sheets program. Its just plain garbage.
WTF? You dont need jack shit in credit to buy a house? Hows that possible? You cant do it?!?!?

 

[bran987]

For example I just recently found 2 spec houses (brand new) 2208 square feet built by Ryland Homes, asking price $145,000. 3 bed/2 bath

Because it was a spec house already built and they wanted to get rid of it, they were offering $15,000 off.

Price down to: 130,000 (145,000-15,000)

Went to my friend who is a broker and told him about it, the builder was offering a 3% commission to brokers. 3% of the FULL price (which equals $4,350).

Price down to: $125,650

Right now on a 30-year fixed conventional you can get 5.75% rate. The loan will be 90% of price or approx. 110,000 ($641 per month)
Taxes in the county are 2.45% ($260 per month)
Insurance figure $100 per month

Total payment per month: $1,001 dollars.

I told him to check the market rent on houses leased in the past 6 months for 3 bed/2 baths. On houses less than 10 years old the market is 1,200 to 1,450.

This is a brand new house. There will be no repairs for a few years. He will make 200 to $450 per month cash flow immediately. Over the years rent will increase, but his payment will not. The house is directly in line with the growth of Dallas - North. He will experience much appreciation in price of the house in the coming years.

But what about the down payment of 10%?

The $15,000 discount applied. So does his broker commission. There is no out of pocket cash. It's 2 free houses.

What did I get? He gave me half the commission, which equals almost 5 thousand bucks. For 1 weekend of being out driving around. That is more than I can save for a whole year at my salaried job.

And I didn't have to find a motivated seller, and I didn't have to find a house that was falling apart at the seams to repair. It doesn't mean you CAN'T do those things, but there is A LOT you can do in real estate!

What if I didn't know the investor? Well call a realtor and see if he knows any investors looking for a great deal. Believe me - they'll have an answer for you.

You just have to OPEN your eyes and look around.

 

[Razorguns]

I can you save $2000 per seminar:

Buy low sell HIGH.

It's not freakin' rocket science. If u REALLY want to learn more -- buy a freakin' book at barnes & nobles.

there's no free money. You NEED cash to buy a house (down payment). Then rent it out, then sell it when market hits the top.

Want to make more money? Buy MORE houses.

I can't believe people are paying thousands just to be told that. Good lord.

that's how they make their money -- with the seminars. If they didn't care about the money, they'd put all the info on a website for free.

 

[Burning_Inside]

Ive gotten and looked at the carlton sheets program. Its just plain garbage.
WTF? You dont need jack shit in credit to buy a house? Hows that possible? You cant do it?!?!?

Now ask yourself why there were quite a few real estate agents at the 3 day classes. they are 2 grand for the classes. Apparently these agents felt that the information provided was worth it.

 

[Burning_Inside]

I can you save $2000 per seminar:

Buy low sell HIGH.

It's not freakin' rocket science. If u REALLY want to learn more -- buy a freakin' book at barnes & nobles.

there's no free money. You NEED cash to buy a house (down payment). Then rent it out, then sell it when market hits the top.

Want to make more money? Buy MORE houses.

I can't believe people are paying thousands just to be told that. Good lord.

that's how they make their money -- with the seminars. If they didn't care about the money, they'd put all the info on a website for free.

Sir RazorGunz, this is THE most ignorant and ludicrous post I've seen all week, and i read a lot of threads. You've surpassed Curling for this week. amazing, but true. You need to open your eyes just a LITTLE more.

Do you also support President Bush?

 

[Razorguns]

And why Sir Burning Inside is that ignorant? Yes it's a simplified view of the process, but in a nutshell, it's the basis of how real estate works. I've never heard of someone buying an overpriced property and selling low and making money. If that's the case, sign me up!

Buy Low, Sell high. It's how stocks work, houses work, cars work, imports work, etc. The complications of the transactions may be complicated, but the basis of the profit formula NEVER changes.

 

[bran987]

Buy Low, Sell high. It's how stocks work, houses work, cars work, imports work, etc. The complications of the transactions may be complicated, but the basis of the profit formula NEVER changes.

And if it were that easy, we'd all be billionaires.

The truth of the matter is that if that is what you call a basis for an education or think that you are ready to buy real estate/stocks/or anything else based solely on that knowledge, you'll get eaten alive.

There is a lifetime more to learn, but with 6 months of studying hard and observing yes you could be ready to give it a shot.

Or you could cut the learning time and go to a real estate seminar.

The $2,000 seminar could save you $20,000 if it makes you realize how not to fuck up. But do you research before you plop the money down on somebody with a bad reputation. There are crooks and gems in every field.

With stock trading I wouldn't suggest it to anyone who hasn't paper traded for at least a year successfully. Try doing that (when the market isn't going up for everyone buying and holding too) and then get back to me.

 

[Razorguns]

You wanna spend $2k, i can learn from a $39 book. Go right ahead. I'd rather learn by networking and schmoozing with the right people in my own area and garner their knowledge. Then some "infomercial".

I wonder if you'd take a survey out of all those seminar folks,a nd findout WHO actually earned their $2k back.

I've been to so many of those get-rich scheme seminars and they're all scams and want your money. You could YOURSELF tak ehtat info you just learned, and create your own seminar next week saying the exact stuff.

If everyone took that $2k seminar, did exactly what they did -- we'd all be billionaires.

It ain't that easy. You can trump it up with fancy words, terminologies, schemes, formulas, mathematics, models, whatever you want. But the formula stays the same.

That's why some of the smartest men in this world can't make companies make profits (MCI, Enron, all those DOT-COMS, etc).

People get so damn caught up on fancy number-juggling they forget the freakin' core of what makes money! What do you think the #1 reason of big companies failing in this country are? It sure ain't lack of education.

 

[bran987]

You wanna spend $2k, i can learn from a $39 book. Go right ahead. I'd rather learn by networking and schmoozing with the right people in my own area and garner their knowledge. Then some "infomercial".

I wonder if you'd take a survey out of all those seminar folks,a nd findout WHO actually earned their $2k back.

I've been to so many of those get-rich scheme seminars and they're all scams and want your money. You could YOURSELF tak ehtat info you just learned, and create your own seminar next week saying the exact stuff.

If everyone took that $2k seminar, did exactly what they did -- we'd all be billionaires.

It ain't that easy. You can trump it up with fancy words, terminologies, schemes, formulas, mathematics, models, whatever you want. But the formula stays the same.

That's why some of the smartest men in this world can't make companies make profits (MCI, Enron, all those DOT-COMS, etc).

People get so damn caught up on fancy number-juggling they forget the freakin' core of what makes money! What do you think the #1 reason of big companies failing in this country are? It sure ain't lack of education.

You can check John Burley's discussion forum at http://mastermindforum.com/phorum/:

hundreds of people there using his methods to make money in real estate all talking to each other and improving.. changing their lives like they never could before.

But oh.. you can't get into one of his seminars for $2,000.. it's a $4,000 minimum.. IF you register early.. don't see anyone regretting it.

 

[Burning_Inside]

And why Sir Burning Inside is that ignorant? Yes it's a simplified view of the process, but in a nutshell, it's the basis of how real estate works. I've never heard of someone buying an overpriced property and selling low and making money. If that's the case, sign me up!

Buy Low, Sell high. It's how stocks work, houses work, cars work, imports work, etc. The complications of the transactions may be complicated, but the basis of the profit formula NEVER changes.

because you dont need cash down to buy a house sometimes. People do it, case closed. There's obviouslt a lot more out there concerning the matter than you know.

 

[Burning_Inside]

You can check John Burley's discussion forum at http://mastermindforum.com/phorum/:

hundreds of people there using his methods to make money in real estate all talking to each other and improving.. changing their lives like they never could before.

But oh.. you can't get into one of his seminars for $2,000.. it's a $4,000 minimum.. IF you register early.. don't see anyone regretting it.

Actually I just checked russ whitney's site and he has a forum also. I don;t think if this was bullshit, tat he'd leave up an open forum for people to call him on it, killing his business of "scheming".

Bottom line is, people will believe what they want.

Also if you took a survey, going on what razor said, about people who made their 2k back, I'm sure there are some. Those are the people with no motivation or ambition to do anything with what they've learned. How long does it take the average college student to get back into his/her pocket what they invested into schooling? How many people out of college even get into a job immediately?

Just because people advertise on infomercials doesn't make them con artists. I've ran into 2 people in my life that have used these tools to make actual real money. The stuff obviously works.

 

[solidg]

it's 10% investor required now not 20% but you can get around that too with creative methods

*EDIT and by creative I don't mean dishonest. There's just no way to go into all this in an EF thread.

Which mortgage company specifically will give you a 10% down mortgage on an investment property?