Posted by DaveWT on May 25, 2003 at 24:23:46:
The Idaho Real Estate Commission has a lending library through the mail. The have lots of books and tapes you can borrow (mostly for RE salesman and brokers of course). One item they have is Paul Simon’s “Simon System”, in case anybody wants to hear it. The tapes spend a good deal of time on how to fill out purchase offers in his “An Offer You Can’t Refuse” book. He has some good ideas on the tape, and warns investors against mistakes he made. He even predicts correctly that Bill Bruss will outlast him. It also mentions some other of his books I’m curious about like “Nothing Ventured, Nothing Gained”. Never seen that one.
Thought I’d mention that in case anybody wanted to hear it (it’s free, what the hey!).
This is the link to borrow the course:
http://www.idahorealestatecommission.com/publcs/libcass.html
Paul Simon + Equity participation ? - Posted by DaveWT
Posted by DaveWT on May 18, 2003 at 15:14:41:
Hi,
I was wondering whatever happened to Paul Simon, the equity participation guru? I heard about him years ago, and I just happened to get a copy of his tape course. I also ordered his “An Offer You Can’t Refuse” book on ebay. I wondered if anyone had an opinion on this course. It seems there are some good points about equity participation, like no landlording, but it seems there would be some drawbacks too, like what happens if the co-investor skips town (or am I worng?).
Re: Paul Simon + Equity participation ? - Posted by David Krulac
Posted by David Krulac on May 18, 2003 at 15:26:49:
Simon was at his height of populariity in the 1980s. The high interest rates of the 1980s prompted people to devise ways to help the financial situation. It is most beneficial when interest rates are highest. It never really caught on. One of the problems is explaining the equity split. It the equity is split between parents and child, its a lot more palitable.
But you are essentially setting up a partnership between strangers and not expecting any problems. The idea of selling the house 5 years down the road and splitting the profits doesn’t appeal to people who want to own their home, 100% of their home, not 50%.
David Krulac
Central Pennsylvania
Re: Paul Simon + Equity participation ? - Posted by Charles Parrish
Posted by Charles Parrish on May 18, 2003 at 19:55:20:
I meet Paul Simon in the 80’s, Paul was making some really big money selling books and tapes. I never believed in the Equity Participation programs, just too many details. I was not interessted in having a co-investor living in the house that I have 1/2 ownership in or having a partner that was a tenant all their life. Paul was a master at selling books, creating enthusiasm and motivating people. We were on the same speaking cercuit at the time.
So where is Paul now…does anyone know?
Charlie