Re: Discouraging & Confusing info, help? - Posted by GL(ON)
Posted by GL(ON) on March 11, 2002 at 08:43:40:
The truth lies somewhere in between. If you mean John Reed he brings out some important facts that are ignored or covered up by certain other experts. But he is way too severe, makes the worst case out of everything, and even condemns books that he has never read and courses that he has never seen.
It is quite possible to make a lot of money in real estate investing without doing anything shady or underhanded and without breaking any laws.No book or course will turn you into a crook. You can learn abot different ways of doing things and use only those that are honest.
I think there is too much emphasis put on buying for nothing down, starting with no money and the like. This is a marketing gimmick to sell courses. Look at it this way. Even if you had no money to invest (which is not true of most people) if you do 1 or 2 deals, and they are as successful as the gurus promise, then you will have money for a down payment and the nothing down stuff will become less important.
Some of the people who got in trouble lost sight of this, and continued to pyramid recklessly without building up any reserves, such as cash in the bank. Others were out and out crooks who eventually got arrested and convicted of fraud.