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John Beck real estate program?
www.johnbeck.tv
Has anyone ever heard about or tried this program? I see his infomercials a lot... supposedly you can buy real estate for less than a thousand dollars, mortgage-free... something about unpaid back property taxes... I don't know, the website doesn't provide a lot of information. I'm really interested in this, since I'm plannig on eventually investing in real estate, and gosh, owning it for just a couple hundred dollars would be great! One could buy so many in just a year's time! Is it too good to be true?
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Re:John Beck real estate program?
Let me ask you a question, well a couple.
If this was entirely real why is he selling it for $40?
If the results are so guaranteed that it appears about 6 times on the web site, why is there no guarantee?
If this works why is the address a PO box in Van Nuys and not a suite in some prime office building in Hawaii?
This is your basic con formula-- Take
1 kernel of truth
+ 150 cups of exaggeration,
Market the hell out of it
Then run away
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Re:John Beck real estate program?
Very good points, Monty -- I didn't even notice that they only had a P.O. box.
But, like a friend of mine said, "There's only one way to find out for sure, and that piece of infomation is going to cost you forty dollars."
I'll definitely keep digging deeper, though.
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Re:John Beck real estate program?
Quote:
Originally Posted by Dizzy link=board=6;threadid=5735;start=msg62128#msg62128 date=1073836843
But, like a friend of mine said, "There's only one way to find out for sure, and that piece of infomation is going to cost you forty dollars."
That's absolutely not true!
I found it for $7 plus $2 s/h
http://list-archive.xemacs.org/xemac.../msg00473.html
seriously, if this is legit information, you should be able to find out how to do this for free. But, if it's legit, also keep in mind that you are not the only one bidding on these bargains, which would drive the price up, so your pennies on the dollar may not come true.
All of these get rich quick infomercils are the same thing. As my mother always said, "if it was any good, they wouldn't have to sell it on TV."
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Re:John Beck real estate program?
Emily,
I love the irony of buying "Pennies on the Dollar" for,well, "pennies on the dollar". :D
And Dizzy, you probably get a better return for your $40 by buying 40 lotto tickets or 2 lap dances.
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Re:John Beck real estate program?
Quote:
Originally Posted by Emily link=board=6;threadid=5735;start=msg62131#msg62131 date=1073837702
Wow! Thanks, Emily! I'll check out that link.
Quote:
But, if it's legit, also keep in mind that you are not the only one bidding on these bargains, which would drive the price up, so your pennies on the dollar may not come true.
I had figured as much, but it doesn't hurt to try, I say. Kind of like bidding on eBay -- I know how much I'm willing to spend, and if somebody outbids me and I'm not willing or able to go higher, good on them; it's not the end of the world.
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Re:John Beck real estate program?
Without looking at it, I can tell you that the basic concept is probably sound, because there are definitely people who buy real estate for the back taxes. The problem is that this isn't a secret anymore. Whenever the local government has tax auctions, they have to publish them, and there is a crowd that gathers to bid on the parcels. The minimum bid is the back taxes. The only properties that go for that amount are the crappy ones. Good properties get bid up higher. Can you still get them for "pennies on the dollar"? I'm sure you can, on some. However, it might be 97 pennies on the dollar.
If his system is charging you $40 to tell you "Find out when your local government is doing tax auctions", I just saved you $40. Somehow, though, I think you'll pay $40, get some advice, but if you really, really want the secrets that save the huge money, you'll have to send another $500 or something.
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Re:John Beck real estate program?
And Monty, we've only got $10 lapdances here -- I could get double that for $40! Haha... don't know how the boyfriend would feel about it, though.
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Re:John Beck real estate program?
Quote:
Originally Posted by NVJosh link=board=6;threadid=5735;start=msg62152#msg62152 date=1073841825
Whenever the local government has tax auctions, they have to publish them, and there is a crowd that gathers to bid on the parcels. The minimum bid is the back taxes. The only properties that go for that amount are the crappy ones. Good properties get bid up higher. Can you still get them for "pennies on the dollar"? I'm sure you can, on some. However, it might be 97 pennies on the dollar.
This might seem like a silly question, but where does the local government publish the auctions?
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Re:John Beck real estate program?
I believe they are published at the county courthouse. They may also be in some other publications.
BTW, I was way off when I said his bonus info would be $500. He charges $8,000(!!!) for his high level consulting.
I'd advise you take a look at http://www.work-athome-moms.com/guru-reviews.html and just scroll down to the John Beck section (the 3rd name). Here are a couple of the more salient points...
"John Beck's course deals with investing in tax delinquent properties. Can you make money with this? Well, yes, there are thousands of tax delinquent properties out there However, to find the tax delinquent properties that will actually lapse is another story. I am not expert on this, but I dabbled in this once and found that most people who were delinquent on tax would pay their property before the time limit (varies in each state, but usually like 3 years or more). It's true some people let the property go, but (1)you really need to know how to analyze the property to know if it will be a good investment. (2) You need money to pay the back taxes if you do get it. (3) If you get one of these you better know how to sell it, which takes time and knowledge."
"I have talked with a few people who purchased his course, and they said there was some good basic knowledge, but not enough detail to do the business. "
"Is John's course recommended? For basic knowledge it isn't bad, but you must be aware that the $40 price is only part of his fees and you are going to have to spend a lot more to get the whole detailed package."
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Re:John Beck real estate program?
Also, nobody has raised the subject of actually being able to realise a profit even if you are able to purchase a property for pennies on the dollar. In order to resell it, you generally need to bring the property up to FHA standards and local codes in order for any would-be buyer to obtain financing. This can mean a new roof, a new water well, a new heating system, a new electric service or tens of thousands of dollars of other improvements. Because of the fact that banks and local governments will require compliance before they'll provide financing or allow a title transfer, the original money you invested in purchasing the property is "trapped" unless and until you also invest the additional cost of bringing the property up to code.
You really need to know a lot about houses, structurally and code wise, in order to assess the total cost basis that you'll have to sink into the property in order to put it on the market. The situation could very well arise where the real rate of return on your total investment simply sucks even though you bought the house for peanuts initially.
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Re:John Beck real estate program?
Melonie - That's part of the review I didn't quote. It more or less says "Once you have one of these properties you have to be able to sell it, and that's no easy task."
Getting rich requires hard work and dedication. There are no shortcuts. I don't mean you have to work 60 hours a week for your entire life, just that you're unlikely to pay $40 (or even $8,000) and suddenly have a system that will make you rich for 5 hours or work per week.
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Re:John Beck real estate program?
I don't know if it makes a dfference, but I wasn't planning on selling any properties; rather, renting them out.
Nevertheless, thank you for all the advice, guys, I'm definitely taking notes over here.
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Re:John Beck real estate program?
Diz, be prepared for standards on rental property being tighter than for a remodel/sale. Then you also have to worry about the standards of the renter's liability insurance too. Today's "up-to-code" may not be tight enough for a potential law suit in a few years.
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Re:John Beck real estate program?
Dizzy, you're going to have even bigger issues with rental properties, as most states are even more picky about code compliance for apartments. This stems from the fact that most states offer low income rental assistance plans of one form or another, giving the state the right to take a direct interest in the condition of landlord's properties.
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Re:John Beck real estate program?
Also.. there are plenty of good books out there for you. I do highly recommend "Real Estate Riches" by Dolf de Roos. The good thing about Dolf's book is that the book gives you a good system to use to find those bargins (not necessarily the same type of 'bargins' that John is recommending).
He also sells a very good software program that will help you determine if your investment property will be a sound investment. I havn't found any other softward package that is as good value. You don't need to do his "boot camp" in re: real estate investing as his book goes into enough detail.
Building wealth (and passive income) will take time. You have to be prepared to spend the time looking for those bargins in order to find them... they ARE out there.
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Re:John Beck real estate program?
the other guys have said it all ...never trust these infomercials especially when they give out a p.o box for their address
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Re:John Beck real estate program?
Let me tell you the real scoop. It is not about trust. He is just selling the sizzle just like we are when we sell VIP dances. You are interested in the sizzle which is getting a house for nothing that has equity in it, and not the reality which is earning interest on your money.
Forget about buying houses for back taxes. What you will learn is how to buy tax lien or tax deed certificates (some states are lien states and others deed) from the county.
When a person is behind on property taxes, they can be brought current by individuals as this helps counties get their money. Each state pays a certain amount of interest, somewhere from 16-25% to the person who buys the past due tax lien, and when the person who is delinquent finally pays the back taxes, plus interest, you get your money back plus the state designated amount of interest.
Each state has a set time that a homeowner has to redeem the lien before the property is sold and they pay a set amount of interest.
Certain states are better to buy delinquent liens in than others. Very few people will allow their property to be lost due to a several hundred or several thousand dollar delinquent tax lien. They will find a way to bring it current before the deadline and sale date.
There is nothing wrong with buying books that will teach you the mechanics of what you want to do. his book will tell you what you are asking, as far as which states are deed and lien, who to contact for listing of the delinquencies and the amount of interest each state pays. It will also teach you which states are better to invest in, in other words which ones have the shorteset amount of time a property owner has to redeem, which means your money will be returned with a profit sooner, vs those that give the property owner longer to redeem or pay less interest.
If you have for example several thousand dollars or more that is just sitting around that you want to invest safely and can wait for your returns whenever they come, this is good for you. Over a period of time if you can buy up lots of liens over a few years every month or so you will receive compensation. It is not quick money but it is a bonafide program.
If John Beck told you what I am telling you you would not be as interested as the sizzle of easy big money is what makes people buy.
He deserves to get his fee for his course as the cost of making his infomercial and running ads nationwide has to be paid and if he doesn't make a profit, why should he share his knowledge with the public?
The few houses that you can buy for $1000 or so will be dilapdated ones which most likely will be torn down as the land it sets on is worth more than the house. 95% of the money made here which is legitimate and backed by the govt come from interest on your money, and the more liens you buy over time the more money you make.
It's a good safe investment for someone who has a lump sum of money they don't need which can be tied up for 6 mos to several years.
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Re:John Beck real estate program?
Quote:
Originally Posted by Tina link=board=6;threadid=5735;start=msg62633#msg62633 date=1073970086
If John Beck told you what I am telling you you would not be as interested as the sizzle of easy big money is what makes people buy.
Actually, Tina, I'm VERY interested in what you just told me! I'd heard about tax lien certificates before, but wasn't sure how they worked. Thanks for the info.
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Re:John Beck real estate program?
My business partner is currently working on investing in tax liens with a friend of his. I know they've gone to at least one presentation and have been buying some books and software to help track these things. I know they were only talking about needing a couple of thousand bucks to start (not for the course material, for the investments). I'll find out the details of the program they are using, assuming they are happy with it.
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Re:John Beck real estate program?
you could always get your realtors license. Its not so bad. I paid 330 for the class and 150 for the test, Im getting applications in the mail, lol!
My friend did it last year, and made like 20k on her first couple million dollor home sale.. She made 125 k last year. I say skip that bull and make real money..lol
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Re:John Beck real estate program?
I would say no on the real estate licence-1st, you dont need it, second, very few make 100K, and 3rd, it COSTS money to get returns in real estate. You rent your desk, pay for advertising, and such. You could just be a mortgage broker and make the 100K with no cost outlay.
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Re:John Beck real estate program?
1st, if you plan to sell houses for someone else you need it . 2nd, in average people make 55k-yearly counting the people that work part time, ect. Third.. it costs money if you have a license in ANYTHING..(continuing ed. )Fourth you have to get a brokers license and that costs money as well, and they on average they dont MAKE AS much as real estate agents.
AND would you really like to sit by 10 fax machines all day in hopes that you will make any type of fee? FUN FUN
I say get out of that office and make connections. My sister made 100k last year being a real estate agent.. If so much money is being made in being a mortgage broker then why the heck do they make up about 4o percent of my class?
I don't know where you are getting your information, but if you know something I DONT KNOW i would be interested in hearing your perspectives, AND Posibally challenging them with statistics.
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Re:John Beck real estate program?
oh.. and if you do have your re license, you can buy and sell property as you please and for your own financial rewards. Dont pay that 2-7 percent. Also another stat here.. most of the millionaires today HAVE STARTED THEIR fortune in real estate. It doesn't hurt to invest money in it..
My fiance's parents bought a house in paradise cali for 115k about 10 years ago, they reciently sold it for more then a half million dollors! So what, if you are a mortage broker you can, UM.. BUY AND sell mortages for your own benefit.. I DONT THINK SO.. and what benefit would that be?
What better way to make money on the side?