Scored Old Training Cours (by Ray-N-Pa [PA]) Aug 8, 2022 12:39 PM|
Scored Old Training Cours (by Roy [AL]) Aug 8, 2022 1:21 PM
Scored Old Training Cours (by Robert J [CA]) Aug 8, 2022 1:27 PM
Scored Old Training Cours (by Ray-N-Pa [PA]) Aug 8, 2022 2:16 PM
Scored Old Training Cours (by dave [CA]) Aug 8, 2022 2:17 PM
Scored Old Training Cours (by dave [CA]) Aug 8, 2022 2:23 PM
Scored Old Training Cours (by Dave [MO]) Aug 8, 2022 2:36 PM
Scored Old Training Cours (by RB [TN]) Aug 8, 2022 3:39 PM
Scored Old Training Cours (by Roy [AL]) Aug 8, 2022 4:13 PM
Scored Old Training Cours (by plenty [MO]) Aug 8, 2022 5:48 PM
Scored Old Training Cours (by Ray-N-Pa [PA]) Aug 8, 2022 9:11 PM
Scored Old Training Cours (by MikeA [TX]) Aug 8, 2022 10:08 PM
Scored Old Training Cours (by Oregon Woodsmoke [ID]) Aug 9, 2022 9:31 AM
Scored Old Training Cours (by MessManager [IN]) Aug 9, 2022 9:56 AM
Scored Old Training Cours (by Ray-N-Pa [PA]) Posted on: Aug 8, 2022 12:39 PM
If you have gray hair you probably remember those 3 AM Infomercials on how you can do it all with no money down and all you have to do is walk out to the mail box.
Yeah I was young and I believed it too so I bought the cassette course from Carlton Sheets. That was over 30 years ago. The info wasn't bad but it did grossly exaggerate how easy real estate was. I am not sure what ever happened to that course - the audio on it was cassettes after all
Well fast forward maybe 33 years later and what do I find at the local drive in flea market? Big SCORE - a mostly CD DVD version of the same course. I say mostly as there are three VHS tapes that are still unwrapped inside the box. Picked it up for $5. Guy wanted $10 but I told him the course said no money down - I asked why I can't get it for free.
Reflecting back, I am not sure what exactly I paid for the original course. But I do know it wasn't $5.
Anyone out there want the VHS tapes? I doubt it is worth to convert them into a different format and I don't have a VHS player
Scored Old Training Cours (by Roy [AL]) Posted on: Aug 8, 2022 1:21 PM
Ray in PA
I listened to those same cassette tapes back the summer of 2005. If I remember correctly, according to Carleton Sheets 'no money down' translated into using your credit card for the down payment or getting some type of 100% owner-financed deal on some really junky looking properties and I am talking about the ones that I would not even buy for $5K.
These days all of the 3am RE gurus are now on 24/7 YouTube hawking the same old 'no money down' deals that Carleton made famous. They still show all of the expensive sports cars and big mansions they supposedly own at the beginning of their infomercial. These self appointed RE gurus have no shame.
I still have a VCR but a VHS tape from Carleton Sheets would be low my priority list. Hang on that thing,...50 years from now if may be worth more than it is today. --71.207.xxx.x
Scored Old Training Cours (by Robert J [CA]) Posted on: Aug 8, 2022 1:27 PM
You shouldn't laugh at those old "almost" believable real estate courses. Like any seminar, informercial or class, there is something to be learned.
I've purchased several properties with almost nothing down! I found sellers that had to get out of the property or business.
In one case a parent died that had previously sold an apartment house and carried back the first mortgage. It was non-performing for years. The parent died and left it to their adult children that were too busy raising their family and working full time.
Half of the apartment house was empty and the other half of the tenants were behind in their rent by over 1 year. It had plumbing and roof leaks. Cracked windows, stucco and a foundation that was about to collapse.
As a contractor for their family I was asked to give an estimate to fix up the property. The cost was more than the value of the property because this was the bottom of a cycle.
I asked the golden question, "Why do you want to fix up the property"? They said it had to be sold. No insurance company would issue a policy and there was too much liability.
I then said, "You don't have to fix it up or invest a cent, I'll buy the property AS-IS".
The only catch is they would have to issue the first mortgage, while evict the tenants and fix up the place. Since I was a contractor my insurance would cover it under liability, I just didn't have a fire policy.
Three months later I was ready to pay them off, but they liked the monthly income and interest rate I was paying them.
Scored Old Training Cours (by Ray-N-Pa [PA]) Posted on: Aug 8, 2022 2:16 PM
Back in the early 90's I wanted to hear that the owner would finance me with no money down. Today, I hear the same recording - and what am I hearing? I am hearing "subject to" and "wrap around".
Strange how the same lesson can mean something different later on in life --24.101.xxx.xxx
Scored Old Training Cours (by dave [CA]) Posted on: Aug 8, 2022 2:17 PM
granted values were lower then, as were rents and taxes.
gas was 23 cents and you got cola glasses or a cooler.
my first studio apt in a yuppie getto of west LA was $135/mo
with a pool and sauna.
even back then, it was VERY HARD to actually find those great deals in a big, high value city. the spin offs were 2nd td market, tax liens / sales,etc.
the only ones making any real money were the seminar uguru's
packing the 500 seat halls at the local holiday inn at 250 or 500 per for a one or 2 day seminar and a ''book'' zerox'd
double space, 12 or 14 point.
I loved the ''finders fee and profit share'' offers as well for bird dogging properties.( if they could be found)
the new 2022 version of this is the HDTV fixit shows in texas, detroit, and god knows where else that houses can supposedly be bought very very inexpensively,...or for a dollar to get em off the non rev tax rolls.
seems like you're rebuilding a complete house trying to salvage some old lumber, in a bad neighborhood,....with carrying charges, closing costs, sweat equity and ''shrinkage'' not ever properly calculated into the formula the viewer sees on tv.
gotta love that term shrinkage. --172.250.x.xx
Scored Old Training Cours (by dave [CA]) Posted on: Aug 8, 2022 2:23 PM
TO RAY AND PA:===
Subject to's, wraps, land contracts, spreader agreements, pools, etc. ALL assume that the numbers actually work (somewhat properly) and that there is actually some equity somewhere, and the borrower actually has some skin in the game and something in their pants, besides what the Lord gave em.
Scored Old Training Cours (by Dave [MO]) Posted on: Aug 8, 2022 2:36 PM
Ray, I received the Carlton Sheets cassette course as a gift from my dad and that was how I got my start into real estate.
I was working in retail department store and would use his call sheet on sellers from the newspaper ads. Although, I never was able to buy a property with no money down it did set me into motion and the rest is history.
After 15 houses I was able to leave retail and be independent.
Glad you found his course and your negotiating skills took over and scored. --173.47.xxx.xxx
Scored Old Training Cours (by RB [TN]) Posted on: Aug 8, 2022 3:39 PM
I never drank the Kool-Aid, either. --24.183.xxx.xxx
Scored Old Training Cours (by Roy [AL]) Posted on: Aug 8, 2022 4:13 PM
The only problem I see with a no-money down deal is your monthly payments usually are so high they eat up all of your cash flow and you end up with an alligator house(s) that eats you alive every month. Negative cash flow has bankrupted more RE investors than anything else I know of. --71.207.xxx.x
Scored Old Training Cours (by plenty [MO]) Posted on: Aug 8, 2022 5:48 PM
I have a vhs player! It works too! --172.56.xx.xx
Scored Old Training Cours (by Ray-N-Pa [PA]) Posted on: Aug 8, 2022 9:11 PM
I can send the tapes to you --24.101.xxx.xxx
Scored Old Training Cours (by MikeA [TX]) Posted on: Aug 8, 2022 10:08 PM
I bought a set at a garage sale about 15 years ago. The lady was really miffed that I offered her ten bucks. She said she had over $900 invested. Most of the cassettes still had the wrapper on them. --47.37.xx.xx
Scored Old Training Cours (by Oregon Woodsmoke [ID]) Posted on: Aug 9, 2022 9:31 AM
I've never read the course, or even seen one, but rumor had it that if you actually followed the procedures in the course it would work.
However, purchasers of the course were dreamers who wanted riches without work and they always failed. Like stated a couple of times above, wrappers weren't even removed from the books. People seemed to think that their free money would result from simply buying the course and had nothing to do with studying or doing the work. --76.178.xxx.xxx
Scored Old Training Cours (by MessManager [IN]) Posted on: Aug 9, 2022 9:56 AM
My step father in law purchased it. Then he gave it to us with wrapping intact about 2010. I keep it on my shelf to remind me; Action is always required. --208.72.xxx.xx