Posted by LeasePurchase on August 24, 2005 at 11:43:16:
Network Marketing and “Legit” don’t belong in the same sentence together, especially when it comes to CRE. Sounds like a spin off of Nouveau Riche.
This and other organizations like them are using you and your credit to locate a purchase properties. This leaves you or someone else on the hook for the loan regardless if they place someone in the property or not. Either that or they are over inflating the prices of the homes to their investors.
I had two “Investor/Members” in my office recently having to file for Bankruptcy as a result of joining up with these types of organizations. Both had excellent credit when they joined. Within weeks they were distroyed.
Why would you pay $495 to “Bird Dog” for someone else. I’ll charge you $495 to locate properties, I’ll do all the work and split all the deals with you 50/50. Oh, and you don’t have to go recruiting your friends either.
Take a look at these organizations and then ask them, of all the people that have joined, how many have actually bought a property or been involved in a transaction. I know for a fact that a one of these groups teaches you to first go out and get your two recruits before you think about finding any properties. What’s amazing to me is that all the money the people are making in the group are from recruiting others to recruit others. Very few, if any, make ANY MONEY at all on Real Estate.
Hold on to your Credit Cards and Wallet. Find a successful Investor in your locale CRE Club and Bird Dog for him/her for free and a split of the deal.
If you want to be in CRE then be in CRE. If you want to be in Network Marketing then join Amway.