Posted by Mike on November 14, 2000 at 22:40:50:
I bought the Carleton Sheets course two years ago. With in 3 months I closed on a 6 unit building using none of my own money. I used techniques outlined by the course and I continue to use forms from his Legal Documents book.
The course starts off with a motivational speech, getting you think outside the norms. Most of us from middle class backgrounds were brought up to train for good jobs that would provide steady income and security. To be a real estate investor, you need to undergo a paradigm shift in your thinking…that is you need to ignore the naysayers in your life and take action. I am a teacher, and I have suggested to colleagues that we should invest in a $1M apartment building but this is beyond their comprehension. Yet I know that within a year, I will purchase a property in the million dollar range.
The techniques for “finding” the money for no money down work in Canada, as do the strategies for finding properties that lend themselves to nothing down sales. The section of evaluating the value of properties and making offers was especially helpful to me in my first deal.
The biggest discrepancy is in the way our tax systems treat the disposition (proceeds from sale) of the property, but this is not covered in the CS course anyways. I won’t get rich quick with my approach to real estate investing, because I view my properties as investments, but I will do well over the long haul. A man was sitting under a tree on a hot summer day. his friend mentioned how lucky he was to have a shady place to sit. The man replied, “The seed was planted many years ago for me to enjoy this shade today.”
I will close with a couple of questions - Do you wish to acquire wealth and peace of mind? Are you influenced by the opinions of others? How much are you prepared to pay to get the knowledge needed?
Good luck, let me know how you make out.