[net.consumers] Real Estate Investment Course

gcpaul@gc49.UUCP (Paul Salizar) (03/05/86)

Course by Ed Beckley, The Millionaire Maker.  The course supposedly
offers to teach one how to buy real estate for investment with little
or no money down.  The program sounded plausible, the course cost
$295.00 and you have a 6 month money back gaurantee if you are 
dissatisfied with the course.   Has anyone out there in no-man's-land
had any experience with this course/company?  If so, I would be interested
to here of your experience/impression.  Thanks
 
                           Paul Salazar
                           6709 Hunt Rd
                           Pleasant Garden, NC 27313
                           919 674 7038   hm
                               279-6318   wk

holloway@drivax.UUCP (Bruce Holloway) (03/10/86)

In article <228@gc49.UUCP> gcpaul@gc49.UUCP (Paul Salizar) writes:
>Course by Ed Beckley, The Millionaire Maker.  The course supposedly
>offers to teach one how to buy real estate for investment with little
>or no money down.  The program sounded plausible, the course cost
>$295.00 and you have a 6 month money back gaurantee if you are 
>dissatisfied with the course.   Has anyone out there in no-man's-land
>had any experience with this course/company?  If so, I would be interested
>to here of your experience/impression.  Thanks

Is that the program where you get 202 VISA cards, get a $1000.00 cash
advance on each card (usually just before the bank closes so they don't
give you any guff), buy a $150,000 home, use that as collateral to get
a $180,000 loan, pay off the VISA card bills with that money, rent the
house to someone else for more than the mortgage payments and pocket
$30,000?

Sounds like an easy way to get ulcers and become bankrupt if the exact
timing fails anywhere along the line. Seems more sensible to just go into
the real estate business if that's what you want to do. A *lot* less
risk.

-- 

+----------------------------------------------------------------------------+
|Whatever I write are not the opinions or policies of Digital Research, Inc.,|
|and probably won't be in the foreseeable future.                            |
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Bruce Holloway

....!ucbvax!hplabs!amdahl!drivax!holloway
(I'm not THAT Bruce Holloway, I'm the other one.)

js2j@mhuxt.UUCP (sonntag) (03/13/86)

> Is that the program where you get 202 VISA cards, get a $1000.00 cash
> advance on each card (usually just before the bank closes so they don't
> give you any guff), buy a $150,000 home, use that as collateral to get
> a $180,000 loan, pay off the VISA card bills with that money, rent the
> house to someone else for more than the mortgage payments and pocket
> $30,000?

   Just where are you going to find 1.) a bank willing to give you a 
$180,000 loan on $150,000 collateral?  Most banks want to loan only
about $130,000 on $150,000 collateral.  2.) Someone who wants to pay
~$1600/month rent on a home they could buy for $850/month after taxes?
And what are you supposed to use to pay the $25-$50 yearly fee on each
of those cards?
> 
> Sounds like an easy way to get ulcers and become bankrupt if the exact
> timing fails anywhere along the line. Seems more sensible to just go into
> the real estate business if that's what you want to do. A *lot* less
> risk.

Sounds like you've also got to find someone really stupid to rent to, and
a very generous bank.  If you find either, let me know.

Then again, you could always make a million by going on t.v. and convincing
gullible people that they could become millionaires by listening to you 
every Sunday morning.  (substitute 'saved' for 'millionaires' for YA method
of becoming a millionaire.)
-- 
Jeff Sonntag
ihnp4!mhuxt!js2j

mrgofor@mmm.UUCP (MKR) (03/14/86)

In article <228@gc49.UUCP> gcpaul@gc49.UUCP (Paul Salizar) writes:
>Course by Ed Beckley, The Millionaire Maker.  The course supposedly
>offers to teach one how to buy real estate for investment with little
>or no money down.  The program sounded plausible, the course cost
>$295.00 and you have a 6 month money back gaurantee if you are 
>dissatisfied with the course.   Has anyone out there in no-man's-land
>had any experience with this course/company?  If so, I would be interested
>to here of your experience/impression.  Thanks
> 
>                           Paul Salazar
>                           6709 Hunt Rd
>                           Pleasant Garden, NC 27313
>                           919 674 7038   hm
>                               279-6318   wk

	Yeah, he's on cable TV all the time. He really *is* a millionaire
maker - he made himself a millionaire with his course. I'll tell you how
to become one just like him - and I won't charge you the $295. 

	First, come up with some hair-brained scheme (like getting 2000
Visa cards and using them to buy a house). Then write a "course" around
it and go on cable TV to promote the course (which you sell at $295/shot).
Pretty soon, all the people who naively think they can just scoop up
some easy bucks and become instant millionaires will send you their
money, and voila - you're rich.

:-)

Seriously - this Beckley guy - that ain't workin', that's the way you
do it - property for nothin' and down-payments for free.


-- 
					--MKR

Sometimes even the President of the United States must have to 
stand naked.    - Dylan

eisaman@ihlpl.UUCP (Eisaman) (03/19/86)

I have watched that show the so called "Millionarer Maker" and
I would like to know if there is anyone out tere that has tried
his scheme, or knows somone who has.  I know it sounds too good to
be true.  But it seems that it could be the chance of a lifetime,
if it works.  But I am not going to put out $295 unless I know for
sure that there is some people out there that have made money off
of this scheme.  

Tom Eisaman
ihnp4!ihlpl!eisaman

kent@mhuxd.UUCP (MILLER) (03/20/86)

> I have watched that show the so called "Millionarer Maker" and
> I would like to know if there is anyone out tere that has tried
> his scheme, or knows somone who has.  I know it sounds too good to
> be true.  But it seems that it could be the chance of a lifetime,
> if it works.  But I am not going to put out $295 unless I know for
> sure that there is some people out there that have made money off
> of this scheme.  
> 
> Tom Eisaman
> ihnp4!ihlpl!eisaman

*** REPLACE THIS LINE WITH YOUR GIBBERISH ***

I have also watched that show and have come to the conclusion that
if the scheme is so great, why would he want to tell everybody?
I mean, if it were me, I'd want to keep the secret to myself so
I could make all the millions.  Sure, HE'S probably a millionaire...,
from selling his $295 kit to all the gullible fools who've got
$295 burning a hole in their pockets!

Chris Miller

rjd@faron.UUCP (Robert DeBenedictis) (03/20/86)

>   Just where are you going to find 1.) a bank willing to give you a
>   $180,000 loan on $150,000 collateral?  Most banks want to loan only
>   about $130,000 on $150,000 collateral.  2.) Someone who wants to pay
>   ~$1600/month rent on a home they could buy for $850/month after taxes?
>   And what are you supposed to use to pay the $25-$50 yearly fee on each
>   of those cards?

1. You buy a house worth $210K for only $150K and you can get a loan
   for $180K.  Especially if the income (rent) covers the expenses.
   It's not EASY to find a $210K house that you can get for $150K.
   BUT, it has happened before and it will happen again.  You just find
   someone who's sick and tired of owning THAT house.  And who's willing
   to make a modest profit (Hell, if he only paid $80K for it, $150K may
   sound like a lot!)  You may have to look at over 200 properties over
   course of 6 to 9 months; it takes time.

2. Someone will pay $1600/month for something with an after tax mortgage
   payment of only $850/month if THEY DON'T HAVE THE MONEY FOR A DOWN
   PAYMENT and THEY'RE NOT WILLING TO SPEND THE TIME LOOKING FOR A *NO*
   DOWN PAYMENT SITUATION.

3. You can get free credit cards.


Spending $295 on beckley's material is a scam.
Profiting from real eatate in america isn't.

Robert DeBenedictis

phoenix@genat.UUCP (phoenix) (03/21/86)

In article <710@ihlpl.UUCP> eisaman@ihlpl.UUCP (Eisaman) writes:
>I have watched that show the so called "Millionarer Maker" and
>I would like to know if there is anyone out tere that has tried
>his scheme, or knows somone who has.  I know it sounds too good to
>be true.  But it seems that it could be the chance of a lifetime,
>if it works.  But I am not going to put out $295 unless I know for
>sure that there is some people out there that have made money off
>of this scheme.  
>
>Tom Eisaman
>ihnp4!ihlpl!eisaman

I would doubt that there are some people who have't made money on this
scheme:  but I'll bet that's an awfully small group of people (outside
of Mr. Millionaire-Maker himself).  You notice that real people don't
use his scheme (by real, I mean people in financial business); it's
because any you start to use his system you must continue indefinately;
and the bills, mortgages mount higher and higher the more money you
are taking in.  You can't ever rest, you must constantly search for new
homes to buy and sell:  and I don't even want to think about the Income
Tax you'll have to fill out.  Assuming you succeed, I'll bet you won't
be happy.
-- 
					The Phoenix
					(Neither Bright, Dark, nor Young)


---"A man should live forever...or die trying."
---"There is no substitute for good manners...except fast reflexes."