X

Hello,
This may be a stretch for this message board (and maybe someone will know a good message board to post this question), but since there is a wonderful amount of good information given out here I thought I would ask.
Has anyone given the Carlton Sheets - No Money Down real estate investment program a try? My wife and I are thinking about it and would like any input from anyone who has used the program. Good or bad, we'd like your opinions. Pulling this question into a travel related question...if we can purchase a couple locations around the U.S., we can have places to stay on vacations.
Thank you for just taking the time to read this.
KnP

Jeff

This program is very much like all the other "get rich quick" schemes you see on TV and in the print media.
"No money down, earn millions", "Can't miss wealth without risk", etc.

Sorry, but it doesn't work that way.
There are many sources of info on the Sheets program on the web where people who have paid the $159 or so to 'learn how to buy rel estate with no money down' report their anger, frustration or happiness with the program.
It appears to be no different than all the other real estate schemes out there.

Personally I think these guys are a half step above con artists. They DO tell you how to make money.
BUT: if you've got the determination, intelligence and personality to make money using these schemes (and those are absolut prerequisites), you certainly don't need to be paying these guys. Get a good job with lots of upside potential and go after it. Anyone with the tools required to be successful with these schemes has the tools to be successful in lots of areas.

X

I totally agree that these programs fall under the old adage...if it sounds to good to be true, it probably is. I just wanted to find out if the techniques are just a bunch of hog wash or if they require unreasonable time and effort to implement them.
Would you know of any specific web site dedicated to people "venting" about purchasing the program?

MyFriend

I know of a person who wanted to get into this type of real estate business. He bought this series among many other books and did a lot of research, and he now rents property and resells property. BUT, his success is not due to Carlton Sheets. The CS Method of aquiring real estate is difficult at best, and you almost always have to have some money in the first place to purchase these homes and make the necessary upgrades to rent them out. That being said, I think a person should check out other sources for their info (ie...How To Buy & Manage Rental Property...can't remember the author). As for my friend, I now call him a slum lord. I would not go into doing this unless I could provide a little more of a quality home for these people to rent. Just my opinion.

Jack

These programs (there are many besides the one you mentioned) require considerable time and effort if you are to make any money. And they do requirethat you have extra money sitting around to start the ball rolling.
If you do a search engine request at dogpile.com with words like 'carlton sheets real estate opinion' you'll find some reviews from users.

They not Me

A few years ago during the last real estate "boom" there were a number of these "no money down"/"get rich on other peoples money" programs(Ed Begley, Wu etc. Many of these people are now in jail.

Sounds Good

I have more than one friend that lost everything they had doing this when the real estate went sour in early the 90's. It's not for amateurs. The negative cash flow can kill you. Just look at what happened to the tech boom. If it were that simple all real estate agents would be rich. How many do you know that are?

GatorGirl

Okay I am not trying to be rude but THEY SELL IT ON TV. That should be your first big clue that maybe this is a huge waste of time and money.......go to real estate school, I actually know several people who have had their mid-life crisis solved by becoming a realtor!

easterner

Should you decide not to invest in the real estate program you mentioned and have some $$$ burning a hole in your pocket, please get in contact with me ASAP. I've a great bridge connecting Brooklyn and Manhattan in New York that I can give you a great deal on and I've also got some great oceanfront property in Kansas. You would be much better off with these sound investments than you would be with the one you discussed!!!

Travel

ITS A TRAVEL BOARD!!!!!!!!!!!!!!1

I guess anyone stupid enough to "invest" (read: throwing money away) in the Sheets program is also stupid enough to ask about it on a travel board. I'm surprised you do have enough sense not to ask the friggin queestion in all CAPS


Are you traveling while giving your money away to conmen? The way you try to "make" this into a travel question makes me sick....

Fodors Editors.....DELETE THIS THREAD

SomePeople

to the above poster: TRAVEL,
if you are so bothered by this thread then why did you pull it back up to #1? It was way out of the top 50. I don't like the thread either, so I ignore it. I am commenting on it though since it is in the #1 spot already, thanks a lot TRAVEL.

CS

When you review my program, look beyond all the cash flow my pidgeons talk about - and examine the debt level that somehow, someday must be dissolved. It worlks like this: you buy a house for x dollars (you get a loan), and immediately leverage that into a home equity loan. You pocket the HEL and repay the monthly mortgage. You hopefully resell the house and repay the mortgage and HEL. Might risky.