Re: Lonnie vs Carlton - Posted by Tony-VA/NC
Posted by Tony-VA/NC on August 10, 2003 at 10:49:06:
Yes, Carlton does target late night dreamers who may have little propensity to get off the sofa to actually apply his material (much less open it). But their refusal to apply it does not mean it won’t work.
Not all of his techniques are bank related. As I recall, he touched upon pretty much all of the creative investing techniques, few of which deal with banks. Lease/Options, Subject-To, Wrap Mortgages, Contract for Deed, Owner carry, hard money (private or equity) lenders are all legal, all covered (in greater detail) by course for sale here, AND all mentioned (as I recall) in Carlton’s course.
Perhaps your frustration stems from banging heads with banks. I too have a banker’s knot on my forehead from past attempts but in time I adapted to make the deals work.
No money down deals can be done but just because they are No Money Down does not make them good deals and this is a topic in which I would differ with Carlton, but that is another post.
I also agree with you that if someone can’t afford the course, they are not financially prepared for the business (although some have proven me wrong). Most people forget that this is a business and you need cash reserves, credit to fill the gaps if necessary and a realistic idea of what you are going to do with the property now and in the long term.
Lonnie’s teachings are quite affordable, no argument there. But I would also suggest that if you go into business doing Lonnie deals, then you should also have a cash reserve, credit to fill the gaps if necessary and a realistic idea of what you are going to do with the property now and in the long term.
In applying either course, Carlton’s or Lonnie’s, you can do some deals without all of those things but I would agrue that you are not truly in business then either. Don’t get me wrong, a few nice investment deals is great and Lonnie’s material is what I too chose and did well with.
It may seem ironic to many that I would agrue for Carlton but this does not mean I prefer his material to Lonnie’s. They are not an apple to apple comparison. Lonnie’s $30 book changed my financial life in more ways than I would ever have imagined. I would encourage all beginners to start with his material. Lonnie’s system does not require huge amounts of cash in hand or force people to take on large amounts of debt. That is the beauty of his system. It is easy to apply and easy to succeed with.
If a person focused on one topic in Carlton’s course, they could become an expert in that field. I would suggest that the course here are more detailed on the niche topics and would greatly benefit one trying to perfect their niche. Many have then proven that it is easy to apply and easy to succeed with.