Sure! I Want To Earn Millions In Real Estate...

[arwalden]

do you think those late night infomercials telling me that I can buy forclosed property with no-money-down are legitimate?

Will I actually make money by "placing tiny ads in newspapers"?

It sounds too good to be true. But I can find out all the details for just three easy payments of $99.00.

-- Allen

[Bronco69]

1. You should go ahead and check it out

and then report back to the rest of us. LOL :-)

[KissMyAsscroft]

2. As long as the people proposing this lucrative idea

are two identical twin dwarves, I'd say that you should definitely go for it!

[trotsky]

3. The funniest thing I think with those types of informercials...

is that if it's so damn lucrative to do this easy business, why on earth would you want to sell the method relatively cheaply?

Ah well, just goes to show the timelessness of P.T. Barnum's saying.

[trof]

9. By George, I think you've got it.

If I had a sure-fire money-making idea, I'd just go make a lot of sure-fire money.

[terrya]

4. I get what seems like 50,000 emails a day telling me that I can get rich..

Starting my own home business.

Excuse me, but can we say: SCAM? My bullshit detector goes off big time. It's laughable, sometimes...I'll get these "Terry, this is your LAST CHANCE to get rich". Sometimes, the emails sound pleading "Terry, why won't you reply to our get rich offer".

I know I'm not the brainest person on the planet, but really, I'm not THAT stupid to fall for those scams.

Terry

[Turbineguy]

5. Cartlon Sheets has recovered nicely

from his bankruptcy. Gee, maybe he wasn't following the plan he wants you to buy???

[Cleita]

6. Sigh. P. T. Barnum said something about a sucker being born every

minute didn't he? When I think of foreclosures, I think of a widow with six children being thrown out of her $150,000 home because of back taxes of around three thousand dollars. You see her husband had just died of a horrible disease without medical care because as the bread winner in the family, he couldn't work anymore and there was no money for hospital care.

The family ate bug infested food donated from a food bank. The purchaser of the foreclosure paid the overdue tax bill and acquired the property for just that instead of the full market value of $150,000. The woman and her children got nothing. The children were seized by child services and the woman was thrown in jail. Nice, huh, in our country,too. Of course this was in a red state where every public official is a compassionate conservative.

[MJP]

7. I bought the program

So, if you sign up under me, and you sign up three people, and they sign up three people....

anyway...I admit it...I bought the No Money Down program.

I read the whole thing, I listened to all the tapes. So, I go driving around and I see a house for sale. The sign says "Lease option."

The program will tell you these are good deals. So I call up the number, and I start going through the script they give you. "Hi, My name is "So and So" may I ask your name?" So, I start asking questions. How much would you like down? How much do you need today? If I could pay cash this week, how much would you need. Finally, the guy says, "Listen buddy, what did you do? Buy some program off the TV?!! I don't deal with "investors"!!"

He got mad and hung up on me.

The No Money Down binder now sits on a shelf collecting dust. But, I keep telling myself someday I'm going to use it.

[private_ryan]

8. they actually make MILLIONS

...........by selling people the tapes :)

[lotteandollie]

10. It is possible in Georgia

I own some rental property, but didn't buy in in foreclosure. I put 10-20% down. Rules are probably different in other states. I live in Georgia. If you were wanting to do in in my state for zero down, you would want to buy in "pre-foreclosure".

You would contact the homeowner (county legal newspapers) that is being foreclosed upon. In order to make the deal work they would have to have a fair amount of equity built up. You could offer to take over the payments (and back payments) and pay them some money so they could afford to move out. You ask, loans are hardly ever assumable? Well, in my state, it's like "Pirate's Rules". You have the owner sign over the property to you. He also will send a letter to the mortgage company asking them to send all of the future correspondence on the property to your PO Box.

If the mortgage company finds out, they may not care. At worst, they can call the loan, in which case you just purchased a piece of property which is worth more than the loan, which means you just refinance (with someone else). Can you imagine a bank calling up and getting after someone for paying off their loan?

[Deja Q]

11. Most people make zilch. Some make squat.

A few lucky ones who are in the right areas at the right times stand to make a killing.

The only winner of these deals are the people asking you for your three payments of $99, plus shipping and handling...