sheets - no money down course - Posted by darlene

Posted by David on December 12, 1999 at 10:52:26:

Hey Scott,

I purchased the CS course last year. I started reviewing it, and found the info. to be really good! Unfortunatly, I got “off track” and stopped studying it. I decided this week to get back on the wagon! You would be surprised what seeing the info-mercial again can do! I thought to myself, “Hey that stuff just might work!” and then I thought, “Hey I have that course in my closet!” SO, I’m going to get serious about it NOW! I guess it’s time to sit down and write down some more realistic goals.

Let me know how you fair with the course! Good luck!

David L.
BR,Louisiana

sheets - no money down course - Posted by darlene

Posted by darlene on December 05, 1999 at 20:28:14:

I have been thinking about Sheets course" no money down". What I want to know is it worth the $180 it is going for? Also, does it work? I read where someone was saying that you REALLY have to hunt for the real estate. Also, is his course easy to read and to understand? I just want some information, feedback on this course. Please anything would be of great help to me. Can you really do this and how hard is it? Thanks for your time. Is this TOO GOOD TO BE TRUE? Has anyone out there been successful with this course?

Re: sheets - no money down course - Posted by Tony

Posted by Tony on December 07, 1999 at 01:46:09:

Hi Darlene:

Please do not be discouraged by the post left by tang-o-rang. Anything worth having is worth working for to obtain.

The CS course is a very informative course that gives good techniques, if you understand how to apply them.

My suggestion to you is to invest in your education and let tang-o-rang continue playin tango @ their job.

The course is worth it. The best advise that I may give you is to look at the person that is giving you the advise. If they are not where you want to be and or have not applied themselves but only make excuses of their failures. I sincerely have a problem with that because it hinders new investors from even tryin.

You can’t lose by investing in yourself. Whether its that course or any other. Check out this site, Ron Legrand book"Quick Cash" is a good book also that gives
good information on several aspects of real estate.

Decide what you are tryin to accomplish with real estate and that may help you to decide which area of real estate that you’ll start.

Look, dont get too hype about buyin no-money down. because lots of investor’s really dont understand that technique. The reason I say this is because you make your money money in real estate when you buy it, and only collect it when you sell it.

Therefore, it you must be conscious of the price you are paying whether its no money down or not. Lots of investors will pay 100% plus of the value of the property, if they can purchase the property for nothing down.

It makes no sense because you are highly leveraged with debt and most of the time beginning investors may not have cash reserves and credit rating may not be strong or it may.

And if the tenant doesn’t pay, the investor now becomes a motivated seller. But he bought the house for no money down. He paid too much and the property is cash flowing, so price and the amount you are financing must be taken into consideration.

I say that to say this. When I first got into real estate I was hype about buyin. I just wanted to buy a house no money down( i didnt understand it) and pat myself on the back because I purchased a 3bd house for $45,000 with no money down.
Detail:
Grigg Street Property:
Sales Price:$45,000
Existing Mortg: 40,000(approx) $376.14(PITI)
Owner held 2nd: 5,000 5yr 7% $ 99.01
Total Mortgage Payments $475.15

Rented @ $495.00 minus 475.15 equals $19.15 positive cash flow…Hmmmm I did the deal no money down no out of pocket cash $19.15 net for the rest of my life whooo peeee dooo.

Well Im not actually accelerating toward financial independence…It was a good deal, but in the beginning new investors need to concentrate on building cash not equity…Equity does not pay the bills…cash pays…

As my experience grew I learned how to buy real estate…make your money goin in…let me show you

Example: Arlington St Property

Purchased price: $14,001.00
Appraised Value: $45,000.00

Arranged Financing:$28,000.00 secured by property first mortgage. Net Loan proceeds were $27,460.00 minus purchase costs $14,758.06. The net cash back @ closing $12,701.94.

This was actual cash back at closing$12,701.94 on this

2bd 1ba Liv Kit C/A/H
Fenced Yard(Nice Bread butter property)

Now the house appraised for 45,0000 the first mortgage is $28,000 10yr @ 8 1/4% $418.43(PITI) Rented @ $525, positive cash flow $106.57 plus 12k plus in cash and $17,000 in equity(Appraised $45K minus Loan $28k equals Equity $17K)

My question to you is which no money down deal would you do. Ive done both. Again, I reiterate dont give up because someone else failed ask them why, most of the time they dont because they gave up too soon.

Tang-o-rang…dont give up on real estate it works, give it a try again, but take a different approach.

May God Bless each of you in your real estate endeavors.

Tony

no/yes. - Posted by tang-o-rang …Craig

Posted by tang-o-rang …Craig on December 06, 1999 at 10:26:40:

Darlene,
I am going to be honest with you and tell you that no, Carleton Sheets’ methods do not work. When I say that I mean that YOU have to make them work. His ideas are general but effective, he gets a new investor modivated and excited about Read Estate. What you learn from his course is the building blocks to your new career(OUCH wrong word) Hobbie(much better). Is the $180 bucks worth it, on your first deal you make it back!. Is your time worth it, I have been doing it successfully with as little as 2 hours per day because I enjoy my job ( sorry all for useing such a word) So if I can make more money in 15-20 hours per week than I can in 40-45 hours at my job (again! stop saying that)then yeah I guess so.
Yes you can do it and make a lot of money, or lose your ASSets. Real Estate investing is a risky buisness but there are greater risks out there(women)you can be killed for wearing the wrong color of shirt these days.
IT IS WHAT YOU MAKE IT. That is why you must educate yourself as you go, spend that hard earned money on new books/courses or months of late fees at your local library. But dont let that hold you back, jump in and mix things up! strive to succed, be determined in reaching your goals,and never back down.
-is it too good to be true, Yes, but you get the cake and EAT IT TOO.
hope this helps, although I only spoke of the positive aspects of the game, I am sure Others will fill in the negative for you.
Time is Money, I am done.

Craig

Re: Hello - Posted by Tang-O-Rang

Posted by Tang-O-Rang on December 07, 1999 at 07:44:18:

Tony, you offer good, knowledgable advise, but I thought my post was a supportive post for Carleton Sheets. Corect me if I am wrong…did you read it or BROWSE through it?. I am not trying to offend you but my intentions were to let Darlene know that she had to study up and work hard right off the bat. I said that Carlten Sheets’ methods dont work… YOU have to MAKE them work . A contradictive phrase for the purpose of humor, to make a point. I share in your concern for people who post with a one sided opionion on who is right and who is wrong and which course works and which one doesn’t. They ALL work…for certain people, certain situations, and for certain charicteristics. Knowledge is the key…it took me years and hundreds of costly mistakes to figure this out. If I would have invested in more books/courses and conventions that I thought I couldn’t afford,rather than half the poor investments I made, I would have been better prepared for the good investments and over-looked the bad ones(thus greater wealth with increased knowledge). I am proud of my occomplishments and my mistakes, but hope to offer a sound word of advise for the new kids getting started.
I do not wish to offend you or anyone else just wanted to comment. Thanks for the continueing knowledge,as WE are always learning new and wonderful things.
Happy Holidays, God Bless.

Craig from Colorado

Re: no/yes. - Posted by scott

Posted by scott on December 09, 1999 at 15:18:35:

Thanks for your encouragement. I have recently purchased the course and I am very excited about getting started. I have had the course 3 weeks and I am in chapter 18. Wish me luck because I intend to be successful.
-Scott

Re: Hello - Posted by Tony

Posted by Tony on December 07, 1999 at 10:16:28:

Craig:

Yes, I did read your comments not browse through it. I was not offended by your comments at all.

My intentions were to make it clear to darlene creative real estate does work. Sometimes humor can confuse the newbies because they latch on to every word that a experience investor gives.

And to encourage her to invest in her real estate education. You dont lose by doing so.

I wish you continued success and Happy Holidays.

Tony