Anybody have experience w/ Charlton Sheets Real Estate Course or similar?

[masmdu]

Anybody have positive or negative comments on Charlton Sheets real estate course?

Has anybody here done it? If so, what were your results?

Any other RE guru experiences?

Thanks...
Curious and Consdering
M

[masmdu]

1. Anybody....?

?

[WCGreen]

2. All I know is everything you pay hundreds, if not thousands

of dollars for is public information readily available....

You can go to your county sheriffs office, or web page, and find out what is being auctioned off....

That's really all he is doing is buying distressed property....

[flvegan]

3. It's crap.

He talks (as far as I know) about buying foreclosure properties. Basically, what he's suggesting is very rare, to be honest. Here in Florida, this is how it would work, according to Sheets.

Property goes into foreclosure. Okay, Lis Pendens gets filed and 90-120 days later (if uncontested) a Final Summary Judgment is entered and a sale date is set (sale at the courthouse of the property). Now, this in when the sharks come...
What's the equity? In other words how much beyond the FSJ amount is the place worth, cuz that's what the bank is gonna bid at the sale, no matter what. They stop there, but anyone else can keep going.

So, taking into consideration what's owed in taxes and any liens NOT wiped out in the f/c action (superior mortgages, abatement liens, superior judgments against the titleholder) AND any other refurbishment the property will need to be marketable at the previously anticipated value, you have your bottom line of "profit" unless you'll rent it out. Also, as a third party bidder, if ANYTHING went wrong with the f/c action, don't count on the lawyer to fix it. Caveat emptor. You'll need to know how to examine the title to that property before you consider bidding on it.

However, if you break even on the value to bid, and rent it, you could turn profit...in time. Lots of landlords acquire property this way, and they WILL be bidding against you.

As for "no money down" the only way I can even figure he can spin his crap that way, is if you noticed the Lis Pendens and offered "cash for keys" to the homeowner. Sort of a private party "deed in lieu" where you'd reinstate the loan and take the property, offering to "save" the credit of the homeowner.

Run. Away.