Than Merrill's FortuneBuilders - But WHO is Building the Fortune?

 

We all know that real estate makes millionaires out of ordinary people. And anyone interested in real estate investing has probably heard of FortuneBuilders, operated by the former star of A&E’s “Flip This House” Than Merrill. It appears no city in America misses his real estate seminars.

But as Forbes magazine so aptly pointed out, seminars are not for teaching - they are for selling! And Than's "FortuneBuilders" is very good at selling. And selling. And SELLING!

"Kim" wrote me a letter recently detailing her experience with FortuneBuilders:

Here is Kim's letter - we receive many such letters every month:

Kim<******@ymail.com>
To:intellibiz@yahoo.com
Subject: Than Merrill
Mar 25 at 11:20 AM

"Where I already knew Than Merrill Fortune Builders would try to sell us on a more expensive program. We went to get some insight to the weekend workshop.

"Having previously been involved in some RE dealings but still learning it did give me some helpful info worth my $200

"We knew they would try to upsell a larger program & after looking them up expected $15,000-$30,000 as their price. People fell over at the $49,000 price tag then $34,000 or $25,000. In addition $97 monthly for software. $20,000 for an intense 2 day program after the Mastery program. It went on & on.

"They should be ashamed to ask that much. Sell books at $100-200, sell software for $250, sell forms for $300. Anything in bits & pieces people can choose, I would think they would get more sales as opposed to having all but 2 people walking out

"It's not an accredited college so don't compare it to one with those prices.
Yes invest in knowledge but don't rip people off.

"We are so glad we found "The Simple Man's Guide to Real Estate". A simple, complete program at a VERY affordable cost. Thank you"

The primary purpose of this article is to try and help keep some people from falling into the “medicine show” trap of the seminar circuits of infomercial gurus like Than Merrill, Armando Montelongo and the rest. That is not to say that their programs cannot work - what I am saying is that success stories are relatively rare, and NO real estate investing program is worth upwards of the $35,000-$60,000 some of these people charge.

FortuneBuilders first lures people who are desperate for financial security to their “free” seminar. This seminar is just a teaser, where a high-pressure sales pitch is used to get attendees to shell out $1500 for the REAL seminar. And at that “real” seminar the attendees are pressured to protect their $1500 investment by plunking down another $35,000 for the "full Monte”.

There are legitimate real estate investing courses available, but you won’t find them on late-night “infomercial” TV. And they will not cost an arm and a leg. Courses like “The Simple Man’s Guide to Real Estate” which includes everything needed to invest successfully, including free mentoring for life - and the cost is under $100 COMPLETE. How is that possible? It's easy - they operate as a not-for-profit, run strictly by volunteer investors. It's unbelievable what you can do when the profit motive is removed!

Can You Buy Real Estate Without Cash Or Credit? YES!

There are 24 legitimate methods of purchasing real estate. Most real estate gurus like Than Merrill, Armando Montelongo and Ron LeGrand only teach between 2 and 5, which severely limits opportunities for making money. "The Simple Man's Guide to Real Estate" is the only program that teaches all 24 methods - and 8 of them do not require cash or credit!

I will now show you a simple, little known method anyone can use that does NOT require you to put up any cash. None. In fact, your credit need not be great, either. This method is a great way to break into real estate investing - or even to buy your first home - if you are short on cash and/or credit.

This method is also great for those who have cash to invest and want to put it into a safe, profitable investment vehicle. No matter which side of the transaction you are on, this method can provide huge profits with little or no risk. 

Approved by the I.R.S. this is known as Equity Participation, aka Equity Sharing. While it is often used in non-real estate transactions, it works equally well for real estate. What I am about to share here are the basics, so you can fully understand how it works. The finer details can be found in "The Simple Man's Guide to Real Estate" investing program along with 23 other methods, some well-known, some not. Equity Participation can be used to buy your own home, a rental unit, or a property you want to flip to another homeowner. It can also be used in a way that allows you to be on either side of the transaction - buyer or seller, which shows how versatile this method is. 

To buy the property with no money down and less than best credit, you would locate a property (using methods taught in "The Simple Man's Guide to Real Estate") where the seller does not require all cash at closing and wants to "invest" some of his equity in a profitable investment, and one he knows well - his own home. The seller would leave enough of his equity on the table at closing, to be used as the down payment required by the bank from which you are obtaining a mortgage for the balance. That takes care of the down payment. If your credit is too weak to finance a mortgage, the seller could also use his credit to co-sign for you, since you will be co-owners of the property. 

 Here is how it works: 

Let's say the home is valued at $150,000 (just as an example). The bank requires 10% down ($15,000) and will issue a mortgage of $135,000. The seller owes $85,000 on the house, so he has $65,000 in equity. At closing the bank puts up the $135,000. From that, the closing agent uses $85,000 to close out the seller's mortgage, leaving the seller's equity - $65,000. The seller puts up $15,000 of his equity as your down payment, and both of you would be "partners" in owning the house. Your Equity Share agreement with the seller would lay out all the specifics of the partnership. Typically, the agreement would be for 5 or 7 years. You and the seller-partner would share in the appreciation of the property in that time, and in any profits if used as a rental. At the end of the term, you would refinance on your own and pay the seller the amount of his investment plus half of any appreciation. If the property has appreciated 20% over the 5-7 years ($30,000), he would collect his initial cash outlay ($15,000) plus $15,000 of the appreciation, all taken from the cash at the refinancing. If the refinance does not provide enough cash, you can simply sell the property at its appreciated value ($180,000), pay your partner his $30,000, pay off your remaining mortgage (now under $135,000) and you pocket the remaining $15,000+ profit. 

You had the property 5-7 years to live in or rent out, and made $15,000 to boot. 

 NOTE: if you rented it out at a profit over and above your mortgage & expenses, your partner would get half that profit, as well. 

Now let's assume you have money to invest, and want a safe, secure investment. Instead of a seller putting up equity, you, as an investor would do that on behalf of a cash-poor buyer. You are partnering with the buyer. At the end of the term you could easily have doubled your money without the risk that investing in the stock market could incur. 

This method, used either way, is powerful, and much safer than most other investments. For more detail, and to have access to a professional investor as a mentor, order your copy of "The Simple Man's Guide to Real Estate". In addition to all 24 methods of investing it includes 24 real estate related bonus books, software that creates your agreements/contracts easily and a 24/7 mentor - all for Under $100 complete. 

How can we do that? Simply put, we operate as a not-for-profit and the professional investors we engage as mentors are all unpaid volunteers. We are faith-based and this is how we give something back to the community. 

At least check it out - it costs nothing to look us over.

 Thanks, and stay safe