Carleton Sheets-Real Estate
- Thread starter ageecee
- Start date
ageecee, I've been a RE broker for 16+- years and have watched his infomericals for many years and have formulated this opinion.
People sit home and dream about striking it rich, which I don't blame them, but they think it's easy and it will happen overnight, which it won't. Sheets has been longer than any other infomerical, so he's doing something legit(IMO).
Do I think his stuff works, absolutely, but it'll depend on what state you reside in and your willingness to work and follow his advice step by step, usually that's where the problem is.
Do you need to buy his program to buy homes w/no money down, no you don't. What you need to do is get pre-approved for a mortgage and tell the MTG officer you want to by a home w/no money down, if you qualify, then find yourself a BUYER AGENT, be up front and tell them your situation and start looking.
You can purchase V.A. Foreclosures w/no money down or in markets that are slow, the seller maybe able to assist in the financing or ypu can find an investor who will loan you the $$ just like a bank would(I do this all the time).
I don't know how much sheets program is, but if it's under 300, it might be worth checking out as long as your going to Apply WHAT YOU'VE LEARNED.
I don't know what state your from, but if your looking in MA, I'll help you out or if it's in Missouri, then Lounge Lizard might be able to help you out.
Good Luck
People sit home and dream about striking it rich, which I don't blame them, but they think it's easy and it will happen overnight, which it won't. Sheets has been longer than any other infomerical, so he's doing something legit(IMO).
Do I think his stuff works, absolutely, but it'll depend on what state you reside in and your willingness to work and follow his advice step by step, usually that's where the problem is.
Do you need to buy his program to buy homes w/no money down, no you don't. What you need to do is get pre-approved for a mortgage and tell the MTG officer you want to by a home w/no money down, if you qualify, then find yourself a BUYER AGENT, be up front and tell them your situation and start looking.
You can purchase V.A. Foreclosures w/no money down or in markets that are slow, the seller maybe able to assist in the financing or ypu can find an investor who will loan you the $$ just like a bank would(I do this all the time).
I don't know how much sheets program is, but if it's under 300, it might be worth checking out as long as your going to Apply WHAT YOU'VE LEARNED.
I don't know what state your from, but if your looking in MA, I'll help you out or if it's in Missouri, then Lounge Lizard might be able to help you out.
Good Luck
a few years ago i was unable to sleep so i put the tv on & found sheets' infomercial. i bought his books & have used them as a guide to start as a real estate investor.i didn't specifically follow his idea's & formulated my own plan on buying houses, but see nothing wrong with buying his books.
when he states that his method of no money down on buying houses, he means that you shouldn't take money from your pocket or bank account to buy houses. it's a gimmick. he thinks that you can buy houses by using your credit card, or by using other credit methods to get the money for the down payment on a house.
i opened a home equity line of credit on my primary house to use as a down payment on rentals.
good luck
when he states that his method of no money down on buying houses, he means that you shouldn't take money from your pocket or bank account to buy houses. it's a gimmick. he thinks that you can buy houses by using your credit card, or by using other credit methods to get the money for the down payment on a house.
i opened a home equity line of credit on my primary house to use as a down payment on rentals.
good luck
Just out standing reply Skulldog. There are many ways to work with the bank. I know a person that purchased his items. There was nothing wrong with the info. But it's free at the library or the bank. This guy said after going through one purchase of a property he understood more how to do it. He said that was the real learning curve. He now has 3 or 4 dublexs. But said other things played in to his success then just Sheets material did. But he also said his material was ok.
ageecee, I think the RE values are pretty cheap where your located so the No money Down may apply in your state. Excellent advice Ar, but has to get the first one
.
Another was to buy homes is through HUD. www.hudhomes.com( I don't know how to post links), I beleive that's the URL, if not type in HUD HOMES in the search box and it should take you there.
I don't recommend for the Novice to BUY @ foreclosure, but after they are foreclosed on, you can inspect them, etc. NO MATTER WHAT HOME YOU BUY MAKE SURE YOU HAVE A HOME AND PEST INSPECTION CONTINGENCY IN YOUR OFFER.
Keep us posted
GL
P.S. Thanks for the kind words DJV
.Another was to buy homes is through HUD. www.hudhomes.com( I don't know how to post links), I beleive that's the URL, if not type in HUD HOMES in the search box and it should take you there.
I don't recommend for the Novice to BUY @ foreclosure, but after they are foreclosed on, you can inspect them, etc. NO MATTER WHAT HOME YOU BUY MAKE SURE YOU HAVE A HOME AND PEST INSPECTION CONTINGENCY IN YOUR OFFER.
Keep us posted
GL
P.S. Thanks for the kind words DJV
:iagree: With all the above and Forsure get those homes inspected. AR182 great info. Good Luck with your purchases. Im going other way now that im retiered. I know most will say are you nuts. But after haveing two duplexes and another small home to rent out last 15 to 17 years. Well Had enough. Taking my proffits while rates are low and easy to sell. Will put money in safe places to just injoy. We all need some of that to.
djv,
thank you for your well wishes.
i'm not handy with repairs so i won't touch older houses.
the reason why i got involved in real estate is to build up enough equity in these rentals, then cash out & pay off my mortgage. my mo is buying brand new homes & holding it for a few years.
skulldog, excellent advice on inspections. eventhough i buy new homes, i still have the homes inspected twice during the building process. once after framing & then when completed.
thank you for your well wishes.
i'm not handy with repairs so i won't touch older houses.
the reason why i got involved in real estate is to build up enough equity in these rentals, then cash out & pay off my mortgage. my mo is buying brand new homes & holding it for a few years.
skulldog, excellent advice on inspections. eventhough i buy new homes, i still have the homes inspected twice during the building process. once after framing & then when completed.
Skull, nice area, how have the sales been last quarter?? might be doing small condo project in braintree a j/v. Used to work for Fafard and AJ lane when I was a kid, right around the time they both went down, I believe they did some work in your area.... framed a few buildings for Fox at the 'Falls " in Quincy...used to get a lot of material from a company in Southboro, and Somerset, Horner Millwork.... ever heard of them??
Amen Skulldog. Sheet's has some good methods, but a lot of his stuff is dated and does take HARD WORK. I always give him credit though because his infomercial is what sparked my interest in REI.
ageecee--You should try to find a local real estate investing club to learn more about REI and possibly find a mentor / potential partner to help with your first few deals. I have read a ton of books on REI and these are my top 3 so far:
Buy It, Fix It, Sell It: Profit!
by Kevin C. Myers
Flipping Properties: Generate Instant Cash Profits in Real Estate
by William Bronchick, Robert Dahlstrom
Investing in Real Estate (Third Edition)
by Andrew James McLean, Gary W. Eldred
Also, there is a message board @ realestateinvesting.com , which is very good. There is a lot of info about Sheets if you do a search for his name on the site.
And one last places that leaves you free to do other things. As I said above after 15 to 17 years of paying my duies with up keep and crankie tenants. Well some of that reward after closing is going into places like Fidelity Real Estate Fund. This way I can make 6 to 8% a year by doing nothing. And for young investors just getting into 401K's and IRA's its agood place for some of your money. Real Estate funds have out gain the SP 500 for 20 years now. Even the hot run form 1993 to 2000 with the Nasdag and Dow just flying. These funds held there own and did not drop 30% like everthing else did in 2001 /2002. Just Another way to be in Real Estate. With little downside. Even when Real Estate had some down turns mid 80's and mid 90's. It out performed most other ares of the market. I been placing some of my real estate proffits in this type of fund now for 14 years. You talk about a Win/Win for your self. It will all help you retire before 60.
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