I recently disconnected my cable because I was paying them all this cash and nothing was ever on. I got it disconnected now there's even less on. Any ways the other night I was watching an info-mercial about these Real-estate self made millionaires. I believe it's a scam but my wife wants me to look into it. Does anybody know anything about this, what's the dirt? Is it a scam?
I have been investing in real estate since 1967. I have never used any of the material in those infomercials. They are scams designed to make money for the promoters. When I have atttended those seminars to see if they offered anything of value, my experience has been that they not only do not offer any information that is actually useful in the real world, but when I have checked on transactions that they claim to have made, the transactions have turned out to be nonexistent. When I have asked the promoters about this I get a lot of hemming and hawing and occasionally the excuse that the transaction was just a hypothetical being used as an illustration of what the promoters said could have been done. One example that was used by a promoter turned out to be a fraudulent transaction that an attorney had used to steal a house from an elderly widow in the early stages of Alzheimer's Disease. What the promoters did not tell the students is that the attorney was later disbarred and sent to prison for this and a number of other frauds that this attorney had been engaged in. Part of the attorney's sentence was that he had to give the house back to the elderly widow. I have copies of the transactions that I obtained from the Santa Clara County Recorder's Office. Both the deed from the elderly widow to the attorney and the deed from the attorney back to the elderly widow. That attorney was good at his scam. He even scammed me too. However I was one of the people who helped investigate that attorney and prosecute him and put him behind bars. He did not get away with his scam for very long. The promoters were selling the fraud that this attorney was perpetrating as a way to get rich, without telling the participants that what the promoters were teaching the attendees to do was illegal and would get them a prison cell with the attorney if they were caught.
It's a scam. You can get rich in real estate but it takes a lot of knowledge and HARD WORK.
Do you wonder why they show the guy with not typical results in front of a big house or with beautiful girls? That's the smoke and mirrors part of today's program. If this plan was all that.. they wouldn't need to sell the plan. They would just make their big money. They leave out one bit of the strategy... you have to have a buyer. Don't be a sucker. A fool and his money are soon parted.
Those things are always scams. They always charge outrageous amounts for their knowledge they will share with you. Don't buy into it. If you are interested in learning the real estate business then get in contact with a local business man/woman in your area and I'm sure they will share their knowledge of the business with you. Also, look into getting your real estate license. It takes a lot of time and work to become succesful in real estate though so be prepared for that and don't expect to automatically become a millionaire.
When you hear all this get rich quick type of deals I want you to ask yourself ONE question. IF this product, education, or course makes this guys so much money then WHY are they spending THIER time and money to SELL a product? IF it worked the way they advertise then they would be out USEING the system and NOT selling it. This goes for real estate, online sales, and everything you get pitched to you. Would the guy who HAD the goose that laid the golden eggs by SELLING the goose? Or would they keep quiet and sell the eggs? You can make money in real estate but it takes WORK and education and for the avg. person they go to these FREE education seminars and then buy the course and never put the time and effort into USING the material. National avg. is about 4% of the peple who attend buy the material and then less then 1% use the material. So your odds of making millions is about the same as winning the lottery UNLESS you WORK for it and ifyou work for it then you don't need the high dollar material.
