"newbie question" - Posted by angela

Posted by David (OH) on June 26, 2001 at 17:37:16:

If you ordered from the infomercial, you did not get everything. He has “advanced” courses that just re-say everything the beginner course did.

My local REI group has a library with some of the CS material. It is old, but I assume it is basically the same thing. You might try there. No Lonnie in the library, and I am only telling my very best RE friends about mobile homes for right now, lol. Also, I hear ebay has some for CS stuff for sale. Just make sure they are original, not copies. That is not fair to the author.


“newbie question” - Posted by angela

Posted by angela on June 26, 2001 at 15:20:54:

I just discovered this site today, quite by accident actually…well, sort of. I heard a Carlton Sheets infomercial on TV today and ordered his system. Started doing some web research on Mr. Sheet’s system (to see whether or not I’ve wasted my money.) I may/may not cancel my order and get Lonnie’s books instead. Lonnie’s plan seems very SIMPLE. Does anybody know what the tax implications are for this sort of thing? Will I have to pay capital gains tax on each MH I buy & then sell? Ang.

Re: “newbie question” - Posted by Lawrence Tourangeau

Posted by Lawrence Tourangeau on June 26, 2001 at 20:42:55:

Hello Angela,
Best of luck in your investing. For answers to your tax questions, you would be best to go to the search and enter ‘Hyre’. John who is a tax attorney has posted many excellent reads about taxation.
Larry Tourangeau

Re: “newbie question” - Posted by David (OH)

Posted by David (OH) on June 26, 2001 at 16:41:40:

The Carlton Sheets program may not be a bad investment. While I admit that the nearly $200 you paid Carlton vs the $30-$60 Lonnie charges makes Carlton look like a crook, you will find the $200 is not alot of money in the RE investment books arena. I know others who have paid several thousand dollars for a course and they felt it was well worth it. I believe you can get your moneys worth with Carlton Sheets.

And I think Lonnie is an awesome person for passing on his knowledge at such a reasonable price. My opinion is that he would like to see people succeed that are willing to put the effort into making their life financially better. He is “paying it forward”, sort of like the movie. And I also think that is one of the reasons this is such a great forum. The theory of passing on knowledge and not expecting too much (or anything) in return has become contageous. Thanks Lonnie!!!

Carlton gives a basic overall understanding of REI. If you are a beginner, you will learn something from his series. I would love to be on his informercial some day, lol. That said, I personally do not recommend getting any additional materials from Carlton. I have not found the 4 additional books/courses I bought to be a significant addition/improvement on the original. Just my opinion.

Good Luck,

Re: “newbie question” - Posted by DL Cunningham

Posted by DL Cunningham on June 26, 2001 at 16:03:00:

If you don’t keep it at least 1 year(may be 2), it’s ordinary income and you are taxed at your current rate.

Re: “newbie question” - Posted by angela

Posted by angela on June 26, 2001 at 16:58:27:

Thanks, David, for passing along your advice. I ordered EVERYTHING Calton Sheets had to offer. I may cancel my order, at least in part. I may be able to find some of his materials at the local library. I DID order both of Lonnie’s books & am looking forward to recieving them soon.