Posted by -=john-E-B=- on July 19, 2002 at 09:17:31:
Now Shawn is a little harsh but I think he is correct in many ways though he got off track.
If you (as I do/did) have other things going on for your future like a 401K or IRA, that will not be enough. History will repeat itself again with a market crash and recession down the road again and our savings and retirement plans will be crap once again. If you dont have that as a plan then you are even more behind the eight ball.
That wasnt your question but that’s where Shawn was taking you. To answer your question you would have to talk to a seasoned Sheets person, which I am not. What I can tell you is that, if you can’t afford to spend $200 on a possibility of saving or earning at least that same $200 then start lower. Carlton Sheets is right! How To Buy a Home With Bad Credit offers Carleton Sheets like information with a money back guarantee on your $14. I have ordered it recently just to see it and because if I can’t afford to spend $14 on seeing someone elses idea which may make me many times that, I need not be looking.
My research shows so far that people who are selling the Carleton Sheets material, are doing so because it seemed too difficult to them. Some people are expecting things to be easy. I have some (2-3) of Sheets CD’s and what he explains and what he says is not only true but it makes sense. I didnt agree with some things but it doesnt make him wrong.
I feel for you regarding your problem as I am here for the same reason, my girlfriend has a bankruptcy that we have to deal with. Do your homework at this site before you buy anything, you may learn what you need to before hand. Like how your bankruptcy will not matter as long as you are paying bills on time with no lates after it happens, providing you find the right lender. Or that maybe an FHA loan may work better for you as it is not supposed to be score driven. In any event please share with me anything you find that may help you becauseI am here for the same reason.
Carleton Sheets/Past bankruptcy- Should I purchase - Posted by Thomas Scott
Posted by Thomas Scott on July 16, 2002 at 09:03:42:
Hello My name is Tom and I need a good honest answer. I have been interested in the Carleton Sheets program for six months now. Unfortunately, I have a past bankruptcy on my credit.Is it true that it is still possible to succeed with Carleton’s program?
As for your credit, while good credit helps, there are strategies of investing that bypass it – good or bad.
When I first heard about making it in real estate, Carlton Sheets was the only thing I ever saw. I got the course and it is good. It will work. But rather than say yes or no to whether or not YOU should buy it, I suggest you take another approach. Ask which course would be best for you.
Are you familiar enough with RE investing to know what approach you prefer? If not, I suggest you read the articles on this site by some of the successful investors. Many have courses to offer right here. Pick a strategy that appeals to you. Then ask where you can get the best training to learn that strategy at the price you can afford.
Carlton Sheets is a landlord. He has the best manual I have seen for landlords. If I have rental property, you can bet that Sheets will be managing the tenants for me, but he doesn’t offer as good advice about finding foreclosures as William McCorkle. (He’s in jail now). Likewise, McCorkle doesn’t offer good training on Subject To’s.
There are many courses to choose from today. Look around and ask around. Pick a strategy that appeals to you and ask for the best course for that strategy. Then go for it. Study the course, do the exercises and buy your property. If you still have questions, you know where to ask.
Take your time, but don’t take forever. Don’t take much more than a week deciding, if you take that long. Then buy it, study it and apply it. This time next year you will look back at this day as a birthday.
Let me answer your question with a question. If you don’t buy his program, if you don’t start rebuilding your credit, if you don’t start looking for alternatives to doing things the way you do them now… where will you be in 10 years?
That sounds like rhetoric, but it’s fact. Lets say that today you make $10.00 per hour or $400.00 a week and manage to save 10% per month or $160.00 At 5% interest what will you have in 20 years?
Now, lets say you find someone who has a house that they just bought, have no equity and have to move now, but will let you take over their payments or subject to… (There are a lot of people who would say if you can’t buy a house at least 25% under FMV you shouldn’t do it, but everybody’s situation and goals are different) If you do this deal where will you be in 20 years? Believe me, 20 years goes very quickly. Start now or don’t blame us when you have to live in one of our mobile homes when you retire.