What could possibly go wrong? Millions of people borrowing money, intending to hold assets for a short period of time and sell for huge gains?
“Than Merrill” is a person whose nickname is Than and whose whole name is Nathaniel.
In it I sit there for an hour explaining the steps involved:
1. Make video explaining how to make a video.
2. Explain in video that millions will want to buy your video
3. Explain in video that people will pay you to tell them that others will pay them to hear this advice
4. Sell video. Get rich. Buy island and yacht.
The author of this article, Mr. Shedlock, is an idiot. He gets a phone call from our first president (probably via some sort of time portal), and all he does is whine about it.
There is one flip show that has a smoking hot blonde.
Still working on phase 2.
It AMAZES me. Any number of supposedly rich real estate, small internet company or house-flipping MILLIONAIRES hawking their schemes (DVDs, brochures and hotel ballroom sessions) to thousands and thousands of people hoping to strike it rich like them - using NO MONEY OF THEIR OWN to do it!
They, the rubes, eat it up like high grade slop, pigs to the slaughter so to speak.
They never ask the question “If this _______ is a MILLIONAIRE doing this, why in the hell is he trying to get me to buy his DVDs to do the same thing?”
I guess it’s because they’re humanitarians and just want to make everybody rich, huh?
I have a friend who has done very well flipping houses.
She 1) had a broker’s license even before the crash of 2008;
2) has a close relative who knows another real estate broker who is unusually adept at finding bargains
3) knows a few people with LOTS of available cash;
4) has a very good real estate attorney.
All of the above get a chunk of the action, except the attorney who bills for services rendered.
She was doing it for a couple of years when the advertisements started up. Which was right around the time she said it was becoming more difficult.
The limiting factor has been cash. Anyone who tells you that you can flip houses without cash is either lying, or is going to advise you to do something illegal.
The key to making money on these deals is:
a. Find a stupid or desperate person to sell you a house under market value.
b. Find a stupid or desperate person to buy that house above market value.
Easy.
Also note a word is missing. Here is the split sentence combined “Learn How to Get Started Flipping Houses Than Merrill - Star of A&E’s “Flip This House”
The ad makes no sense unless your mind inserts the word “Better” right after the word “Houses”.
I read it as “Than Merrill” is the guy’s first and last name.
Flipping with no money is overrated. The easiest is to tie up property at a bargain price and then go sell the contract to rehabber or retail customer. Much more long term income to be made renting. Need considerable cash to get started. Sweat equity is a real good thing.
A friend just dropped $10K on Chief Denney’s “flipping” seminar. And no, she does not have access to any capital.
How many get-rich schemers get rich by employing the scheme that they are selling?