mayer@hamstr.DEC (06/04/85)
My husband and I just spent a fantastic weekend at one of the Robert G. Allen NOTH NOTHING DOWN seminars. If anyone else out there has attended one, what did you think of it and have you had any real estate successes using any of the techniques? At present, we own two investment properties in Man- chester, NH. Thanks! Nancy Mayer
klein@ucbcad.UUCP (Mike Klein) (06/05/85)
The Wall Street Journal carried a major article just a few days ago on this subject; I will guess that it was either Friday 5/31 or Monday 6/3. It was one of their front-page-of-part-two articles. Their assessment of these deals is overall quite negative in the current real estate market. You should definitely find the issue and read it to get the details. In general, nothing-down deals are riskier than something-down deals (why would the seller be willing to give you something for nothing down?). In previous years, some people made a lot of money on these because appreciation of real estate was considerable and virtually certain. This is certainly not the case any more. Many of these deals require more cash during the term of the investment than conventional deals, and if your income from the investment or your appreciation is not sufficient, you lose. The Journal interviewed several people who had gone to these ``Nothing-Down'' seminars; essentially no attendees had been able to buy under these terms. The few that had were in large part stuck because they in turn could not re-sell the property, ran into large negative cash flow problems, or had other comparable problems. Most would not do it again. There were, of course, a few exceptions. The article's conclusion was that you must realize that the real estate market today is different than when most of these people like Robert Allen made their money (that's why they are giving seminars now), and that if you can afford at least a small down payment, you will find investments that entail far less risk. -- -Mike Klein ...!ucbvax!ucbmerlin:klein (UUCP) klein%ucbmerlin@berkeley (ARPA)
john@hp-pcd.UUCP (john) (06/08/85)
<<<< Remember the old saying: NOTHING Ventured, NOTHING Gained John Eaton !hplabs!Hp-pcd!john
mayer@hamstr.DEC (06/10/85)
I've been getting some replies to my question pertaining to the experience of others others with, specifically, Robt. G. Allen's seminars. Naturally, something of this nature is going to be very controversial depending on personal experiences, skeptics in the press, etc., so my husband and I can only really speak from our own viewpoint and ONLY in regard to Robt. G. Allen's seminars--I see now that there are others out there being offered. We found the seminar to be extremely informative in regard to real estate in general as well as the learning of specific techniques employing creative fi- nancing. There will only be, perhaps, a small percentage of those attend- ing such a seminar who will have the creativity to put to use the tech- niques taught, and we are so busy now that I must leave my 40-hour per week job to assist my husband with his investments--he has an incredible grasp of the techniques and is involved in several negotiations at this point. At present we own two investment properties already which are doing very well. One other thing--this seminar does not stress becoming overnight millionaires but, on the contrary, the slow, steady building of in- vestment properties (recommended: one property per year). We antici- pate acquiring at least 3 - 4 per year using what we have learned. This seminar has already earned back for us the cost of the two days. I will keep you posted of further activities/failures/successes.