Carleton Sheets questions - Posted by Steve

Posted by mypurple on June 11, 1999 at 19:40:08:

I got the course awhile ago… the chapter on credit repair is not really a “real estate technique”; he merely explains how somebody with no credit or bad credit can put say $500 or $1000 in a 6 month or 12 month bank CD, and use that CD as collateral when he goes back to the same bank and ask for a SECURED loan of $500 (or $1000). He then just sits on the money, basically, for the sole purpose of making timely payments on the loan. After the loan term is over, this bank has a solid good credit record of this guy. Maybe his next move would be to ask for an UNSECURED loan of $1000, and now because the guy has a good credit history, he probably won’t be turned down. Then after prompt payment of that loan, he snowballs the process until he’s in mortgage territory. So this process of credit repair is exclusive to real estate, its basically what any consumer credit repair agency will tell you to do…and the process can take months and even years before the person can get the financing he needs for real estate…but it is possible.

Carleton Sheets questions - Posted by Steve

Posted by Steve on June 07, 1999 at 21:19:38:

I have read most postings and find that there is no real answer to does it really work?

And can some one tell me to how bad of credit and to how little money does it really help you to buy a home…

Re: Carleton Sheets questions - Posted by Russ Sims

Posted by Russ Sims on June 08, 1999 at 10:59:02:


The answer to your first question is that there is no answer. How’s that for being specific? Seriously, I wouldn’t trust anyone who says “No, the Sheets program doesn’t work” or “Yes, it does absolutely work”. Such answers might seem convenient but they are subjective. The real answer should be phrased as thus: “No, the Sheets program doesn’t work IF you are not willing to apply the teachings and persue your goals with unwavering determination”. Or how about “Yes, the Sheets program works IF you are willing to apply the teachings and persue your goals with unwavering determination.”

Do you see what I’m getting at? Most of Sheets principals are sound. There are many millionaires today because they have purchased and sold real estate using some of the techniques Sheets suggests.But the biggest determining factor is not the quality of instruction, but you. If you are a determined person, a goal setter, and positive thinker, then you’ll do well with the program.

As to your second question about bad credit etc., I don’t really understand it so perhaps you could rephrase it.

Re: Carleton Sheets questions - Posted by Steve

Posted by Steve on June 11, 1999 at 18:42:42:

The questions is, I was wondering what it does for someone with major credit problems…

I am wanting to put together a little business venture and was looking for information on the subject of real estate and people with bad credit…

It seems that is becoming the norm in our country these days and if I can make money helping them with housing then we both win…