I Love Carleton Sheets - Posted by jeff

Posted by HowardTN on November 08, 1999 at 17:32:09:

Chance; where do you find www.johntreed.com/Seets.html?
I’ve tried numerous times and can’t pull them up on my computer.
Are they for real???

I Love Carleton Sheets - Posted by jeff

Posted by jeff on January 01, 1999 at 23:43:07:

I love Carleton Sheets, if it wasn"t for him I’d still be broke and at that crummy 40hr/wk job! My first deal was a no
brainer (fix & flip) netting about $7,500. I will admit that
I didn’t buy into the hold and rent philosophy. I needed money now so I took Carletons quick cash ideas, such as lease options and focused on them, and very quickly built up
"net worth" and up front money(which you can live on). Real
estate investing is for real, but you will have to work at it. My advice: Look for the quick money deals and gurus that teach quick turn, when you’re first starting out!

Re: I Love Carleton Sheets??? - Posted by Keith

Posted by Keith on January 07, 1999 at 13:34:12:

This message is for Jeff, using quick cash ideas, did you buy anything but you flipped it, or did you lease it and then lease it to someone else? I appologize for the dumb questions, but I need to get a foundation before I spend my money on the CS course

-Keith

Re: I Love Carleton Sheets - Posted by RK

Posted by RK on January 01, 1999 at 23:48:03:

Glad to hear CS is working for you. I just got the course and was curious about something. When he says “no money down”, how does he cover the closing costs? Most of the time, if you’re low-balling the seller and asking him to finance 20+% of the sale, they won’t pay your closing costs. How do you get around no out of pocket costs? Thanks.

Re: I Love Carleton Sheets??? - Posted by Stephen

Posted by Stephen on August 18, 1999 at 15:38:41:

But be careful, you can also lose big money by investing in real estate! Read what some of Carleton’s students have to say about his course (good & bad) at http://www.clarksmarketing.com/home.htm

Re: I Love Carleton Sheets??? - Posted by Jeff

Posted by Jeff on January 07, 1999 at 16:10:06:

Keith,
I started buying fixer-uppers with no-doc high% loans and then selling them full retail. I borrowed the small down I needed from a credit line. (tip: if fixers
interest you never pay more than 65-70% of the fixed up value figuring all costs including repairs.) I also do
lease options(CS teaches this) I’ll lease with the right to assign (sell the contract) or sublease. You
need to focus on the stuff that pays todays bills before you worry about the long term growth, ie. holding properties as rentals for appreciation. As for your question about which is better R.L. or C.S. both
are expert teachers but R.L.(in my opinion) can knock
years off of your learning, but he aint cheap. Always
remember a real estate education isn’t cheap, whether
you learn from the pros or you wing it,… you’ll pay.
JN

Re: I Love Carleton Sheets - Posted by Rob FL

Posted by Rob FL on January 02, 1999 at 09:04:46:

No money down just means that you don’t pay any of your own money, not that there is no cash to pay the seller, the realtor, or the closing costs. One of the big benefits of real estate is that you can use other people’s money to purchase a property of substantial value.

my .02

Re: I Love Carleton Sheets - Posted by Russ Sims

Posted by Russ Sims on January 02, 1999 at 02:10:11:

RK: Never assume a seller won’t pay the closing costs, no matter how much of the deal they are financing. You just never know up front what their level of motivation is. Maybe the property has been vacant or on the market for months. $3000 in closing costs could seem like a small price to pay to “unload” it. Don’t be afraid to ask for it.

In the event the seller won’t pay the closing costs, you have several options. If you are buying the house well under market value, you can simply tack the closing costs onto the selling price. The seller then pays 'em with the extra proceeds from the sale. An extra 3K tacked on to a $100,000 mortgage wont raise your payments much. You just need to make sure you can live with your slightly diminished cash flow.

You can always ask the listing agent (if applicable) to loan you all or part of their commission.In fact that is a good reason not to bring your own representation (broker) in on the deal. As you probably know, listing agents have to split commissions with the buyers agent. On a 100K house this means they get 3K instead of 6K. Now you show up with no representation. All of a sudden their commission goes to 6K! They may be happy to loan you a portion of it to move the property, especially if they’ve had it on their hands for a while. And if they say no to the loan, tell them you could always bring in your agent and that, by the way, your agent would be glad to loan you their portion of the commission.Chances are they will relent. It’s better to get 6K spread out over a short period of time than to get 3K immediately.

I just purchased a house where the seller financed 15% and paid all closing costs. This worked because the listing agent volunteered (yes, volunteered!) to lower his commission due to the fact I brought in no representation. He normally gets 7% but lowered it to 4% for the sake of the deal. The seller saved 3K because of this so they readily agreed to paying closing costs. The listing agent knew that if my deal didn’t fly, the next offer would certainly involve another agent resulting in a 3.5% commission.It was a no-brainer for him. This made me wonder how many other agents would agree to lower their commissions given this type of scenario. On future deals I’ll certainly ask!

Hope this helps, Good luck!
Russ Sims(WA)

Re: I Love Carleton Sheets??? - Posted by Keith

Posted by Keith on January 07, 1999 at 16:25:45:

Thanks for the advice… I just have one more series of questions for you. Do you do the fix-ups yourself or are they contract work? If you don’t do the work yourself is it better to try another technique in investing? I keep hearing the lease/option phrase, in doing one of these deals, do you actually buy the house from one seller and then lease it to another seller with the option to buy or are you leasing the house from seller and then subleasing it to another buyer? How do you account for the money you have to pay the seller until you rent the house?

-Keith

Re: I Love Carleton Sheets - Posted by Dale Eiermann

Posted by Dale Eiermann on January 03, 1999 at 24:32:06:

Have you made any money?

Re: I Love Carleton Sheets??? - Posted by Robyn

Posted by Robyn on July 18, 1999 at 23:09:33:

I have read a book by a different fix and flip author
and his advise when you first start out is to purchase
a very inexpensive property with a deferred payment for
3 months and do not fix up the property but sell to another investor and let him fix it up–the profit is not as large, however if you have enough of these properties, it builds your bank account up enough to do a fix and flip deal at the full market price—therefore giving you a bigger profit.

Re: I Love Carleton Sheets??? - Posted by jeff

Posted by jeff on January 07, 1999 at 22:04:00:

Keith,
I started off doing the work with a partner, but that got old fast. Then I began subbing the work out.
(I didn’t get into this to be a handyman) As for lease
options: who said anything about giving the seller anything? $10 has been my max and I’ll agree to make a
payment in 60 days.(usually enough time) If you do lease options learn more than what CS teaches in order
to protect the deal and yourself. Have fun.
JN

Re: I Love Carleton Sheets??? - Posted by Dan

Posted by Dan on May 22, 1999 at 17:11:01:

I agree with your philosophy but I am 24 years old and am out of college and I’ve only had a job for 7 months. So how do I go about getting these no-doc high percentage loans and how hard are they to get with someone in my situation. I also have some established credit but its not that great. thanks Dan…P.s. I have the carleton sheets program and am just getting started.

Re: I Love Carleton Sheets??? - Posted by Chance

Posted by Chance on July 18, 1999 at 19:00:58:

I’ve reacently purchased C.S.'s no money down plane.
I have done a lot of the leg wook and am getting to know the realestate in my area.
My wife and I are about to enroll in his personal coaching program. Can any one tell me if they have
been throught it and how they liked it.
Thanks
Chance & Allison McKemie

Re: I Love Carleton Sheets??? - Posted by Sallyanne

Posted by Sallyanne on September 12, 1999 at 24:27:25:

I hope you didnt give them the 2500 they were asking for a personal coach. If you did just out of curiosity could you give me the coaches name? My Husband also did CS’s course adn was approached about a coach but I had to put a stop to this and show my Honey the vast amount of research I had done on CS. Please research CS before giving him anymore of your hard earned money. Perhaps you could give some of the people who wrote testimonials a call. It is easy enough to find there phone numbers in the online yellow pages. Simply keep trying until you get one. I bet you’ll be quite surprised by the repsonses you get. I am not saying that CS’s course is all BS there is quite a bit of helpful information but there should be no reason you should have to keep dishing out money to him that you could be using towards investing. Additionally it is my understanding that CS stopped investing in properties quite some time ago so that he could devote himself full time to this real estate course which is pretty funny considering he clearly states that he only needed to work part time when he was a “Real Estate Investor” Hmmmmm. I also wonder why he doesnt state his own successes as opposed to those of his “students” on his web page. Another funny thing is there is no e-mail address to wrote to someone at CS’s program Hmmmm again. You may also want to check out a webpage www.johntreed.com. He gives a lot of information on weeding out the phonies. I dont actually have enought information on him to consider him legitimate but hey some of what he says does make sense. If you did pay this so called coach already please dont invest anymore money in Cs’s stuff. Try some other Real Estate Investor books. They will also give you ltos of knowledge for lots less money.

Good Luck and God Bless.

Sallyanne

Re: I Love Carleton Sheets??? - Posted by Robyn

Posted by Robyn on July 18, 1999 at 23:03:13:

I just read a new book that explains you purchase and
don’t fix up and sell, but purchase and then sell to
another person who is looking for a cheap fixer upper
the profit is not as large but the risk is less.

Re: I Love Carleton Sheets??? - Posted by June

Posted by June on October 22, 2000 at 15:33:27:

Do you have any books in mind? I want to be as informed as I can about investing. I know this is the way to go and as with any investment there is a risk. So information will be the key to sound investing. Thanks for the info!