You see them on cable TV, sitting around a swimming pool, sharing stories about how they got rich quick by buying valuable real estate for give-away prices. They took a course on how to invest in real estate and became millionaires overnight--with nothing down and no credit hassles from mortgage lenders. The course worked for them, and they say it will work for you, too.
If all this sounds too good to be true--it is! These "get-rich-quick" courses and schemes are being investigated by consumer fraud agencies around the country. This does not mean that you can't become a millionaire by investing in real estate. But investing in real estate requires one important thing from you--an investment of cash. You can't build an empire overnight, but you can do very well over the long term by selecting property in a good location that is priced well, and which can provide a reasonable cash flow. For more useful information visit our new web site at http://thejteameam.n1estartup.com/
The "J" Team
The "J" Team is your real estate team for life. Our mission is to create a successfull long-term relationship with you. We are here to serve you before, during and after the transaction.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2008 ActiveRain Corp. All Rights Reserved
What these "systems" have in common is most often that the person selling the system has made more money selling the system than buying and selling real estate. You can make money by working with a good realtor who will help you find the right properties, and a good mortgage broker who will find you the right loan programs, not to mention a good property manager to deal with tennants on your behalf.
I have looked at one of these programs, and it was nothing more than buying properties seen in a public notice of forclosure or sherrifs sales, and then renting them back to the owner that couldn't afford the mortgage or selling it at a profit. Anyone can do it -- no "system" needed. Talk to your realtor about your goals, and together come up with a sustainable plan to meet those goals.
"Caveat Emptor" -- Buyer Beware!
Great Points- You see it too often where as the ole saying goes if it sounds too good to be true it probably isn't. The small print means more than anything these days! Great article!
All too often people call, they don't reveal they have just purchased one of these courses, but try and act like they've been doing this all their lives. It becomes obvious quickly that they are just in it for the quick buck, and don't really have a grasp on the market at all.
It is really ashame that the marketing companies are allowed to sell these get rich quick schemes to anyone with a credit card. I agree with Rich - this is just a way for the seller of these "systems" to reap the financial rewards by selling "dreams" to the less fortunate.
And some of the schemes are barely legal... some perhaps illegal... I hope some of the course takers read this post...
Nice Post...
Jason,
and if you wait sometime, you always win :)