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View Full Version : Is John Beck "Buy houses for $300" a scam


empfsu1
04-16-2003, 07:52 PM
Any body heard of John Beck and his books on how to buy government lean houses for like $300 or so, and then turn around and sell them for $100,000???

Here's the site: johnbeck.tv

He charges $35 for the book, but I don't want to be a sucker. Although, I'd hate to miss out on a possible opportunity.

Thanks

Tapioca Dextrin
04-16-2003, 08:12 PM
If it is as easy as he says, why is he going on TV to sell you a book for $35?

Surely, he'd be out there buying houses and making his millions.

Crafter_Man
04-16-2003, 08:24 PM
And why would he want more competition?

Richard Pearse
04-16-2003, 08:46 PM
Well, there are methods for buying and selling houses where you buy the house subject to finance and then sell it on before you actually have to front up with any money. Like anything like that though, it doesn't always work.

drachillix
04-16-2003, 08:58 PM
Originally posted by Skogcat
Well, there are methods for buying and selling houses where you buy the house subject to finance and then sell it on before you actually have to front up with any money.

Or buying houses and getting the purchase qualified for low income rental subsidies. You buy the house, govt gives you a grant for the purchase price if you let the govt place low income renters for 12 years. So you buy the house, govt borrows it, then gives it back paid off. The $300 quote is based on a typical "loan origination fee" or something, thats normal in any property purchase and pretty much unavoidable if you're financing the house.

drachillix
04-16-2003, 09:02 PM
Originally posted by Tapioca Dextrin
If it is as easy as he says, why is he going on TV to sell you a book for $35?

Surely, he'd be out there buying houses and making his millions.

IIRC the programs I mentioned have restrictions like 1 house per year or something....so you can't beceome an overnight slum lord applying for 50 grants on 50 rental properties....it still takes a few years. Play the game right and you will have GODLIKE credit in a few years and will be purchasing homes on your own to rent out at full price.

Duckster
04-16-2003, 10:48 PM
If it walks like a duck ...


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