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Better Business Bureau warns against going to seminar on flipping houses - The Eagle: News

Better Business Bureau warns against going to seminar on flipping houses

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Posted: Thursday, October 11, 2012 12:00 am | Updated: 1:29 am, Thu Oct 11, 2012.

Paul Esajian, owner and CFO of FortuneBuilders, was just a bartender in New York City 11 years ago, struggling to pay his $1,000 rent month to month.

For about a year, Esajian worked and enjoyed life in The Big Apple. Soon, he realized bartending wasn't going to help him achieve his goals.

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16 comments:

  • kellywilson posted at 2:31 am on Wed, Aug 20, 2014.

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  • renata75 posted at 5:37 pm on Wed, May 7, 2014.

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  • eprocent posted at 9:03 pm on Tue, Aug 20, 2013.

    eprocent Posts: 1

    Rental property is a better investment in the BCS area, but be prepared to deal with the headaches, e.g. property maintenance, tenant issues, etc.
    - How To Tie A Tie

     
  • houHomebuyerRockStar posted at 2:40 am on Thu, May 9, 2013.

    houHomebuyerRockStar Posts: 2

    Do research. YouTube real estate wholesaling. I've bought 15 properties and I'm 27.

    As far as "if its too good to be...'' does your rule EVER have an exception?

    No of course not.

    [wink]

     
  • houHomebuyerRockStar posted at 2:34 am on Thu, May 9, 2013.

    houHomebuyerRockStar Posts: 2

    COME ON GUYS!!! Wake up, get educated. Is it STATISCALLY a better market? YES. Is Texas in the top 3 markets in US? YES. And by the way for the fool down here that believes you need to be a Realtor ....HA!!!

    I hate Realtors, and they hate me. I've bought TWO houses in the last 30 days. Active Investor - look me up on facebook Joseph Tomsselli CEO & Owner JV Investments, ill help you FOR FREE to dispell any of these dramatic, fear based responses below.

    I digress ...

    I have below a 600, its probably in the negatives honestly lol.

    Guys ...all my friends are investors just like me or are BEGGING me to teach them. Don't be scared and run into a little corner. These guys that are teaching ARE PROS - Google them. There is a reason why INC magazine has named them the #1 Real Estate Education NATION WIDE.

    Anywho ...like I said educate and replicate the life you see others are living.
    I'm 27 I love my career (I'm up at 2am watching house flipping shows RIGHT NOW) I am member at a high class country club, shopping for a new S550, and best of all IVE EDUCATED MYSELF SO MUCH SO THAT I NOW HAVE THE POWER TO NEVER GO BACKTO CORP AMERICA AGAIN.

    Ill leave you all with this final rant
    "A life unexamined isn't worth living''

     
  • SabrinaM posted at 12:37 am on Wed, May 8, 2013.

    SabrinaM Posts: 1

    Thanks for posting. Flipping homes was a big trend for a while there, until the housing industry crashed. However, the quantity of people doing it has begun to increase. Resource for this article: why possibly not do who you are a have a preference for where you can glimpse on each of our blog?

     
  • jer posted at 10:59 am on Thu, Oct 11, 2012.

    jer Posts: 311

    Nice post.

    Rental property is a better investment in the BCS area, but be prepared to deal with the headaches, e.g. property maintenance, tenant issues, etc.

     
  • n-g posted at 10:28 am on Thu, Oct 11, 2012.

    n-g Posts: 1

    I happen to be in the San Francisco Bay Area this week, and the exact same radio advertisement is playing, saying how the local real estate market is "perfect" for their system. It's hard for me to imagine two more different real estate markets than B/CS and SFO, so how can they both be perfect? Where else do they claim to have found "perfect" real estate conditions? This does not pass the smell test Maybe they're both "perfect" because they both have gullible people who might fall for their ads.

     
  • agnerd posted at 9:01 am on Thu, Oct 11, 2012.

    agnerd Posts: 614

    Let me save everyone $200. To flip houses you first need to become a realtor so that you're not paying someone 6% everytime you sell a house. Next you need money and lots of it. To get this you either need perfect credit, or a rich family member. No one will lend you money if you've never flipped before. And finally, you need to be in a market in which real estate is very expensive and in which people value their time more than their money. Only then can you gain enough value in the flipping process to make any real money. Locations include NY, Boston, DC, LA, SanFran, etc. Texas and College Station do not qualify. Real estate prices and the abundance of cheap labor make new construction too affordable here.

     
  • bcshome posted at 3:16 am on Thu, Oct 11, 2012.

    bcshome Posts: 1

    So pleased to see the bbb expose this scam. As I hear the continual ads for this "seminar" on the radio I keep hoping people don't fall for their get rich quick scheme. Check out foreclosure rates in our area -we do not have an abundance of foreclosures. Good luck to anyone able to "identify and find leverage money".

     

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