They taught me the basics and gave me tools to fix and flip, good classes, good text materials, good counseling. You would almost think they have "plants" in the seminars to make it seem like it's more successful than it really is.
What the odd thing is nobody will give you details about these amazing deals they did. If it's a past deal go ahead and tell us hey, I bought this house on 123 Cedar St, blah blah.
What it's all about is selling you a dream. They have a network of their own people that will lend you money for the house and repairs (it's basically a loan shark). They will make sure you dump every dollar you have in your savings and decide if you qualify.
A few months after I completed the seminar I met my BF who has been in real estate for 20 years. I then learned everything I was taught I could have just joined a national realty firm and take their training. Hang out at home inspections to learn too. You'll also know which contractors to deal with too...
Many markets this "system" won't work in like the major cities.
You may not be able to find much at all unless you want to offer $500k for a house in Westchester, put your $250k cash life savings down, have their loan shark bag you for 18% on the other $250k, plus the repairs then sell it for $750k within 6 months-1 year or you got issues, give the shark $45k and you can walk away with maybe $50k after the headaches of contractors maybe not showing up or doing a decent job.
If you're buying to hold rent, being a landlord takes a lot of stamina. Make sure this business is for you before you invest in real estate. Not everyone can deal with it. They talk about tenants breaking fridge handles, ruin carpets, but they don't get into evictions, city violation issues, etc., which are way more pertinent as a landlord.
They recommend a Nevada corporation, they will bag you over a grand when it's really $75 (do it yourself). NOTE: You'll have to file as a foreign entity in the other state you're doing business in.
Bottom Line: No, I would not recommend this to a friend
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