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The Lazy Mans Way to Short Sale Fortunes, or Not? |
This weekend I attended a free foreclosure seminar that was held locally. The speaker purported himself to be a short sale specialist. He made no qualms about selling a system before it even started.
I was genuinely appalled at the misinformation and outright lies that he was feeding the frenzied crowd of about 100 or so innocent folks. He fed them the bull like he was an evangelist preacher healing the weak. He knew all the right buzz words that would tickle their ears, and called each attendee by their first name (we were made to wear name tags). Oh, did he work the crowd! Never once did he disclose that he had never negotiated a short sale himself.
I was absolutely dumbstruck at how many people in this group were nodding and bobbing and raising their hands at his commands.
In this world of free information, you would think that if anyone was interested in investing in short sales they would have the notion to do even limited research before they handed over large sums of money to an unworthy stranger. These attendees were led to believe that they could make thousands upon thousands, within a 30-day period - as the speaker claimed. (If only they would sign up).
The bottom line of this free seminar was this: if you wanted to be on the inside, be a graduate and make millions, you needed to fork over a mere $3,995 for a three day continuation of this get rich secret . . . Which really isnt any secret at all, if you do a little research and obtain a working knowledge of short sales in general.
Throughout the 2 hour presentation, which I did sit through, he projected a slide show presentation of check images he claimed to have earned and mock ups of property profiles that led the audience to believe they, too could sip margaritas by the poolside while the checks came rolling in.
If anyone in attendance really had a clue about property values, and the current real estate market, they would be able see through his thin veil. Its just amazing how people on the edge just want to believe there really is a free lunch. (In this case, not so free as each individual signing up wrote a check for nearly four thousand dollars). So, I ask you, whos making the money here? I speculated that over the four-day presentation series this man walked out of our fair city with more than $100,000 in his pocket.
This is heartbreaking to see people like him jumping on the bandwagon just to take advantage of the down-tide of the market. This scheme may even be worse than the pushing of the adjustable rate loans that forced the economy to the state that it is in now.
If you want to work short sales and foreclosures for profit, I suggest that you do your due diligence and spend some time gathering good, valid information. On my website, Information-Valley.com. I include only the best, must trusted resources for the real estate professional and savvy investor. May I suggest that you start there, sign up for the newsletter, Information Real Estate and be kept abreast of the trends, the systems that work and those that dont. With so many products, offers and seminars appearing I make it my business to take the most promising for a test spin.
Yes, you are going to have to set aside and dedicate some time for short sale investing. Everything worthwhile takes a little effort. Set a goal for yourself, and stick to it. In the long run you will come out ahead. Remember, there is no free lunch.
After all, I certainly wish you well in your endeavor, for everyones sake.
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Source: ArticleTrader.com
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