The Biggest “Newbie” Real Estate Investing Mistake

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http://virtualrealestateteam.com. Yesterday morning on Oklahoma City television I saw something I haven’t seen in over four years the no money down, bad credit, make you a millionaire in one year seminar. Trust me, these people who claim they are the No. 1 real estate investment expert are nopt making money teaching you how to invest like them. They are making money selling desparate people DVD’s and programs. Back beofr 2008, many of what they were teaching could land you in jail in many states, and to think that you are going to buy a 0,000 property in the greater Oklahoma City area for ,000 is ludicrous, and downright deceptive at best. I sell investors as a specialty and I have a hard time finding deals for my investors, and all of these people either pay cash or get 20% down Fannie Mae backed loans with good credit. Let me give you a free and valuable piece of advice, before giving these people money that you don’t have to spare, use them to pay off your credit cards. Credit card interest is typically around 25% so if you put your money there it is a 25% return on investment on what you are not paying interest on and you are on your way to real financial solvency.

31 thoughts on “The Biggest “Newbie” Real Estate Investing Mistake

  1. The fact that you are supposed to be an intelligent person dispensing advice is voided by your inability to rectify your ridiculous speech impediment at your current age.

  2. Wholesalers are chumps and flipping houses is for COMPLETE morons, but I will say it is entertaining sitting back and watching you fools struggle and scramble to make a decent profit. By the way Fabian those numbers are HORRIBLE as well as the odds your strategies will actually work in the real game of real estate.

  3. I am a beginner and I do not mean to be rude but your way of thinking is a little dated. I say that because if it cost you 5k to borrow any amount of money you do not include that cost in your profits which is what you did. any and I do mean any expense is counted as an expense not profit. which means the BEGINNING potential profit was 45,000 because we already knew we had to pay 5k to borrow the money. you are just being a bit misleading. good video though

  4. I work for Trade Capital Finance. If you need a loan we can get you approved with low rates without credit check and SSN. This is possible because we work with a community based lending pool of investers.. Txt me with your email at 760-755-4439

  5. Youre comments about Real Estate agents selling the 'higher commissioned' property is against license law and is improper for you to include in your series.  Its also wrong for you to generalize all agents.  Home buyers may like the 'subject' property and if you as a RE agent are guiding your buyers away from the property because of the commission then you are putting your interests in front of your clients-and you dont deserve to work in Real Estate.  Just saying….

  6. Do not trust any adviser on face value. Always cross check and minimise your investment risk by seeking proper professional advice. It may seem more costly upfront but will save you thousands in the long run.

  7. Things Armando Montegolo can't do:
    Dance
    Shave
    Bathe
    Shower
    Brush Hair
    Brush Teeth
    Dress himself
    Wash clothes
    Wipe Ass
    Shop for Clothes
    Look sane
    Avoid dirt
    Avoid flies
    understand dry cleaning

  8. Nah…  I won't buy "kits" of any type.  They don't work.  Such "packages" end up going in the closet, and years later that junk ends up in a yard sales for pennies on the dollar.  Well, what does that tell us?  If it's on someone's front lawn on a Saturday morning, then it's not likely very useful.

  9. Scams… Very few "real estate experts" have any interest in simply helping anyone to get ahead.  Oh, please… It just doesn't happen.  People want to be paid for their time.

  10. +Joe Pryor Hey, how's it going I was interested in starting to flip houses etc. and investments. This had recently come about do to a couple on A&E Flipping Vegas and and do to research on this meeting it was on over hyped misleading waste of time. Now I am a young guy in my early 20 and I am curious If you wouldn't mind giving me some advice or guidance on if and how I could go about creating success. I would like to private chat do to I don't want personal information out here for the public. If you would take the time with me I would REALLY appreciate it!

  11. Have you heard about Renatus at all?? They sell you classes ranging from $2,000 to $20,000 and they help you set up real estate deal. They also pay you 50% commission for bringing in new members. What are your thoughts?

  12. Dale, I don't know enough about your investments or strategy to make a comment. If something is working and you accept the risk involved then great. If you are in the US and you have trusted advisors in NZ great. Many investors try to have a diversified portfolio just like with stocks so maybe you could do both. FYI, I am not familiar with Dog Clark.

  13. Have you heard of Doug Clark? He is an American currently delivering seminars in New Zealand abut investing in the US. I have signed up for free seminar Friday. I usually work as a Real Estate agent in Dunedin NZ. I do have money to invest and usually make good money buying property in NZ. Do you think I would be wise to invest in U.S. property or stick to what I know.

  14. +Paulette Murphy +Stango Marketing I looking for information on phil pustejovsky has well did you find anything out about him.

  15. I flip houses in Tulsa and profit about 15-20% of after-repaired value. I borrow money from private lenders to buy and rehab. They don't ask me what my credit score is. Sure, any real estate guru asking for over $10,000 is probably ripping people off.. But I've spent around $7,000 or so over the years on my real estate education from a few different gurus and I'm happy to have done so.

    You're just upset because you only make 3%.

  16. so very true—stay away from them like the plague!
    they are scum
    personally experienced it and lost 7,000.00!- at yancey events
    stupid as ever–and very mad at swallowing hook-line and sinkers!!!!!!!!!!!!!!!
    stay away!

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