Kdo to umí, ten to dělá, kdo to neumí, ten to učí

[Honzajs]

Nic moc...

The Road to Bankruptcy

Yes, there are some good deals to be had in many parts of the country right now. But housing is so weak in most areas you’d have to steal a home right now – or buy it on the courthouse steps – to have a good chance of turning it over quickly. And if Shiller’s forecast is even halfway right, you may still be looking at years of property taxes, insurance, repairs and other maintenance costs before you can sell at a profit.

So caveat emptor.

Let’s also take a moment to consider whether these “free” courses that offer to teach you all you need to know about “no money down” real estate investing – a staple of late-night TV – are worth your time.

My answer is no.

Most people who attend these seminars are generally given a pie-in-the-sky presentation and then offered the opportunity to buy outlandishly expensive books and tapes. They’re also given the chance to sign up for costly seminars where they learn from the experts “how it’s really done.” At these conferences, they are sold more books and tapes, personal coaching, and still more expensive seminars. And so on.

I’m not saying that no one who has tried these techniques has succeeded. I bought my first two houses myself with no money down. But you don’t need a course to do it. All you need is a seller who wants to unload like there’s no tomorrow and is willing to hold the paper.

Of course, these “no money down” gigs have been going on for decades. And the results are generally not what anyone would call enviable.

Forget about the outcome for the students. Take a look at what’s happened to the authors who sold the books and promoted the seminars. According to author John T. Reed:

* Albert Lowry, author of “How You Can Become Financially Independent by Investing in Real Estate,” declared Chapter 7 bankruptcy in 1987.

* Craig Hall, author of “Craig Hall’s Book of Real Estate Investing,” declared bankruptcy in 1992.

* Bill “Tycoon” Greene, author of “Two Years for Freedom,” was convicted, fined and sentenced to prison. (He later escaped from a minimum security prison and is believed to be living in England.)

* Tony Hoffman, author of “How to Negotiate Successfully in Real Estate,” filed Chapter 11 bankruptcy for his company in 1986.

* Wade Cook, author of “How to Build a Real Estate Money Machine,” declared Chapter 7 bankruptcy in 1987 and 2003.

* Dave Glubeitch, author of “The Money Game,” declared Chapter 7 bankruptcy in 1987.

* Dave Del Dotto, author of “Cash Flow System,” was charged by the FTC with misrepresenting products in 1993. He filed Chapter 7 bankruptcy in 1995.

* Charles Givens, author of “Wealth Without Risk,” was successfully sued by a former customer for giving bad financial advice. He filed for Chapter 7 bankruptcy in 1995. He died pending trial.

* Sonny Block, author of “Inside Real Estate,” was indicted in May 1995 by a federal grand jury for fraud and fled to the Dominican Republic to avoid prosecution. He was eventually deported to the U.S., but died pending trial.

* Ed Beckley, author of “Million Dollar Secrets,” declared bankruptcy in 1987 and was sentenced to federal prison for wire fraud.

* Robert Allen, the author of “Nothing Down” and “Creating Wealth,” declared Chapter 7 bankruptcy in May 1996.

[filip glasa]

Čítal som časť českých VŠ skrípt o investovaní. Písal to nejaký M. Král a boli tam aj jeho osobné skúsenosti a praktické informácie (ako používa finance.yahoo.com, vysvetlenia anglických pojmov a skratiek z investovania aj účtovníctva). Aj nejaké príklady.
Celkom zaujímavé na VŠ učiteľa.