please HELP!! - Posted by Ramzi

Real Estate Investing
1

Posted by Dave T on December 04, 2000 at 23:06:19:

Search the archives. You will find a lot of feedback, most of it negative.

2

please HELP!! - Posted by Ramzi

Posted by Ramzi on December 04, 2000 at 22:46:33:

Has anyone here heard of a company called Nation-Wide Real Estate Discounters Corporation?

I have received a mailing from them and they seem to have an interesting real estate program. You pay them a fee ($595) for training material. All they ask you to do is locate distressed properties. They will buy them, repair them and sell them (with their money). You get 10% of profit.

I feel it is a good deal, considering some of us beginners don’t have the money to put up. Also, the $595 fee is refundable after you find your first property. What’s more, they offer to travel, at their expense, for 3-5 days to view the property and sell it.

Please tell me if anyone has heard of this and whether it is a scam or a good deal. I am ready to join them, as I think it’s a good opportunity. I would like to hear from some of you more experienced people.

Thanks in advance,
Ramzi

3

Re: please HELP!! - Posted by Rick(CA)

Posted by Rick(CA) on December 04, 2000 at 23:56:31:

Ramzi,

I’m always suspicious of someone asking for money upfront to make money. That’s how most scams work, with the latter never materializing.

I don’t know about this company, but it really sounds like they’re looking for Bird Doggers with a slightly higher payout. However, if that’s all you want to do, I’d suggest calling some of the I Buy Houses signs and ads you see and ask them if they use bird doggers and what their requirements are. It doesn’t cost anything and they’ll usually pay you between 200-500 per house.

After awhile, you may find it easier to put a contract on the house yourself and then wholesale it for even bigger profits. Then you can grow from there into Rehabs, Lease Options, Rentals, etc.

If you really want to spend that kind of money, I’d suggest you buy a couple of courses offered here and learned from RESPECTED and PROVEN leaders.

Just my 2 cents.