Carleton Sheets - Man for the Times

Carleton Sheets

The Father of Real Estate Investing Infomercials

 

 

Born in 1939, Carleton Sheets had an unremarkable career until 1984 when he became involved in the Professional Education Institute (PEI) and wrote his now famous "No Money Down" real estate investing book. Having been a marketing pro earlier in his career, Carleton soon produced the first of many late-night infomercials to market his real estate investing home study course. 

Many thousands of wanna-be investors bought into the hype, and a handful succeeded, and those few successes were used in future infomercials as testimonials. And the rest is history.

Carleton spent the early part of his adult life in a variety of endeavors, from selling soda bottle caps to being a marketer for a Florida orange juice company, and then in 1970 he entered into real estate. His first deal was a commercial property and by most standards was a dud. But he did not give up - he learned from it. Eventually, he was successful. But true success came from marketing his home study course on late night television infomercials, where he sold over 300,000,000 copies.

Think about that - he sold as many copies over 30 years to equal the population of the United States. Yet, in spite of that, there are relatively few investors, and most of those investors did not learn from Carleton. In short, only a tiny fraction of his customers were able to work his program successfully. But his success in SELLING his course started a "gold rush" of sorts. Today, there are literally hundreds of people pimping their own materials - Armando Montelongo, Than Merrill, Ron Legrand...the list in nearly endless.

And they all have two things in common - all are marketed using the same basic sales stucture made famous in those old west "Medicine Shows", selling their own brand of elixer. And all are incredibly over-priced, up to $35,000 for the whole enchilada, including limited mentoring.

There is a viable alternative, however, for those interested in learning the craft from a professional investor with over 50 years experience. "The Simple Man's Guide to Real Estate" is a down-to earth course created in 1989 by investor and author Bill Vaughn and is marketed as a not-for-profit venture to keep it affordable to all. Updated constantly, it teaches all 22 methods of real estate investing, eight of which do not require your cash or credit, and includes detailed instructions. It also includes software that creates all the agreements necessary - just fill in some blanks. And here is where it really shines - it also includes unlimited mentoring by professional investors at no charge! As a not-for-profit, Bill has assembled professional investors who volunteer their services to teach others and are dedicated to the success of each student.

We owe a lot to Carleton Sheets, for creating an interest in real estate investing. But it is what we owe ourselves and our loved ones - that is what really counts. If you have ever thought about real estate investing, now is the best time to begin.

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Review of Ron Legrand - Real Estate Guru

 

Ron LeGrand- Entrepreneur, real estate guru, infomercial salesman

Ron Legrand has been around and in the real estate field for a long time. Unlike many of the self-professed "gurus", he has actually done considerable investing. Mr. LeGrand has been selling various real estate training courses on late-night TV over the years. His current offering is something he calls his "Gold Club".

A large part of his most popular strategy revolves around wholesaling, just one (minor) strategy for making money in real estate, but Ron does teach other methods as well.

Ron also promotes his seminars, some of which run up to about $9,000.

Ron is a good investor, but NO real estate investing course is worth that.

Ron LeGrand is right about one thing - you can get rich in real estate. But it requires the kind of dedicated help that Ron's materials and coaching simply do not provide at a reasonable cost. Real estate investing is not all that difficult once you learn how, so thousands of dollars to learn is a stiff price to pay.

There are better and much less expensive options available to those who are just starting out. Bill Vaughn, renowned investor for over 50 years developed a top-rated real estate investing course, "The Simple Man's Guide to Real Estate" in 1989 and has personally taught over 46,000 people. Bill developed many of the strategies now being taught and used all over the country. He created the original "reverse mortgage" which was later adopted by the Department of Housing and Urban Development (HUD).

Bill founded a Christian non-profit, IntelliBiz, in 1993 dedicated to the absolute success of each and every one of the people who comes to us seeking to learn real estate investing. We succeed only when our students do. Most of our students (over 316,000 strong) came to us by referral from successful students. Success is what sells our course, not sales gimmicks like seminars, infomercials or boot camps.

If you would like to know more about our affordable, effective course and how we can help you achieve financial security (and pick up a lot of free real estate info),

Visit Our Homepage

All 24 LEGITIMATE Methods of Real Estate Investing

 

 

You would probably never know it by going to a Than Merrill or Armando Montelongo seminar, but there are actually 22 basic, legitimate methods for investing in real estate, and not just the two or three that most "infomercial gurus" teach.

In fact, there are eight methods that do not require any cash out of pocket, or even good credit. For example, have you heard of a powerful "no cash" method called "Equity Participation" (EP), aka Equity Sharing? Probably not, because most of the gurus have never heard of it, either. Yet it is a great way to buy a property and making a substantial down payment without using any cash. Sounds too good to be true, I know, but EP is actually sanctioned by the IRS.

That is just one of the 22 methods taught in "The Simple Man's Guide to Real Estate".

Here is a list and brief description of all 22 methods of real estate investing . If you have any interest in real estate it is worth checking out

 

The 22 Methods of Real Estate Investing

This list is by no means complete, since any two or more of these methods can be combined to create other methods. A good course will teach, in detail, all 24, and will also show you how to combine them to create hundreds more. "The Simple Man's Guide to Real Estate" is the only course that does so and as a non-profit it is the only one to provide free, unlimited mentoring by professional investors which makes it all so simple, and all for under $100 complete. Every one of these strategies is simple, simple, simple! So simple, in fact, that most 6th graders can do them. You can start by choosing just one or two methods suited to your situation, then add others as your experience (and bank account) grows.

•  The BRRRR Method - Buy, Rehab, Rent, Refinance, Repeat - Powerful method to build a large portfolio of income properties from one small seed investment
  

  Wholesaling (Assigning) - fast, easy, no closing or financing required. Great way to get started without cash or credit

• Apartments - multi-family units, if purchased properly, can create passive income for life. Flipping them can also be very profitable, if done correctly

• Lease Option - no cash/credit required. Can be used to buy, or to sublet at a profit, or both

• Master Lease Option - a lease option on an entire apartment complex, providing potentially huge monthly income and a no cash/credit method of buying

• Foreclosures - lenders are often forced to unload these at deep discounts, but there are rules to follow

• Preforeclosures - many "gurus" confuse foreclosures and preforclosures. Learn how to profit from the differences, and how to find them before anyone else, and before they can get on any list

• Rehabbing - generally the most profitable real estate investment, but such huge profit comes with risks. Learn how to evaluate rehabs and mitigate the risks

• Contract For Deed (Land Contract) - no cash or credit required. Some sellers prefer monthly income to cash-out and will self-finance, for several reasons. Here's how to take advantage of it

• Short Sales - more prevalent in hard times, but can be done even in good times. If you and the seller can offer the lender good cause for forgiving part of the mortgage, you can get a huge discount. Find out how

• Double Escrow - No cash or credit required, legal in all 50 states. But there are new caveats to be aware of, and methods to overcome them

• Probate - everybody dies. When a homeowner passes, the heirs are often in a hurry to dispose of the property. How to locate these opportunities and profit from them in ways other gurus keep missing

• Lease & Sublet - No cash or credit required. Learn how to lease at below market rents, then sublet for more; or upgrade the property (with owner's permission) to increase the rent you charge

• Tax Lien Certificates - Unpaid property taxes result in tax liens on the properties, and a great investment opportunity for those who know the ins and outs, and what properties to avoid

• Tax Deed Sales - a lot of the same rules as tax liens except you actually get ownership of the property at the tax deed sale. Know how to buy in, and which properties to avoid

• Equity Sharing (equity participation) - No cash required - you use a portion of the seller's equity as down payment, he gets the balance from your mortgage (which he co-signs for, as partner) and both of you share in the equity from future appreciation. Seller gets his equity back with his share of appreciation typically in 3-5 years when the property is resold or you refi in your name only and pay him off. If you rent the property out, he shares in that, as well. A special agreement is required

• Reverse Mortgage - you, too, can offer elders a reverse mortgage that can help them live their golden years in greater comfort while building your own net worth

• Sale & Leasehold - you can sell a property to an investor, and include a long-term lease to yourself at a favorable rate. Then sublet, and raise rents with increased appreciation. Long-term income even after selling the property

• Buy & Rent - no explanation needed - you buy a property, then rent it out. But you must buy right, or you can end up with an alligator it will eat you alive

• Triple Net Lease - much like a Master Lease Option, but there are crucial differences

• Sweat Option - a great way to start. An option to buy a property that needs work, and seller permits you to get the work done in exchange for the down payment. You get in without a lot of cash or credit, and end up with a property worth more than you paid

• Rolling Option - large parcels can be sub-divided. A rolling option allows you to option parcel #1, and when you resell it you roll that option onto parcel #2 and so on. You get in for much less, and it eliminates the risk of ending up with unsold parcels.

• Option - requires very little cash. An option gives you the right but not the obligation to buy. It also gives you the right to put the property up for re-sale at a higher price, then flip it to your buyer

• Note Trading - not officially a real estate method, but can be used as such, so we include it here as method #24. Any note or mortgage held by a private party or non-bank corporation can be bought and sold. Often available at as much as 50% below value. How to find them, how to buy them, trade them for real estate, and learn which ones to avoid

  You may notice this list does not include "Subject to", or Sub2. The reason is simply because it is not legitimate, is illegal in some states and immoral in all. It strips the seller of rights while still leaving him responsible. And it can trigger a "due on sale" clause.
  

This wide variety also indicates why you need a good, quality mentor. Only one course -  "The Simple Man's Guide to Real Estate" - provides mentors who are practicing real estate investors working in the field, and they are always at your disposal

 

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Review of Armando Montelongo Real Estate Program

 

Armando Montelongo

Review of his Seminars, Bus Tours - Is It A Scam?

Armando Montelongo is one of the "big names" in real estate gurus today, thanks to being the (former) star of A&E's hit show, "Flip This House". But his success as a reality show star does not mean he can teach you how to succeed in real estate investing - he had the deep pockets of A&E to fund his projects, and a team of professionals at his disposal. The Armando Montelongo course seems to focus on just one or two methods - primarily fix & flip foreclosures. That's only one of the 22 methods of real estate investing listed here courtesy of "The Simple Man's Guide to Real Estate. As markets change, investors need more than just one strategy.

Montelongo starts with a "free" Seminar. The word free is what gets the sales ball rolling. In this "free" seminar, he feeds you just enough information to get you fired up, but intentionally not enough to be able to go out and make money. Instead, the bulk of the seminar is spent on convincing you to take the next step - usually Armando's 3-Day Seminar for "just $1497" which leads to a $30,000+ "bus tour". In short, the free seminar is a high-pressure sales pitch. As the Forbes magazine article on Mr. Montelongo points out, seminars are not designed to teach, the are designed to sell! And Armando Montelongo and his team of professional medicine show pitchmen are expert at selling. If he were as good at teaching as he is at selling, he just might have a worthwhile gig going.

Here's the point: No real estate program is worth $30,000. NONE! (see below for a very low cost alternative that works)

The Texas Attorney General got on Armando Montelongo's case for his high-pressure and alleged misleading pitch. Without admitting guilt, Montelongo cut a deal and agreed to certain stipulations. And the Better Business Bureau issued a warning on their site and online concerning his, and similar seminars.

Armando Montelongo Seminars had an "F" rating with the Better Business Bureau, but he has managed to boost that to an A+ - commendable that he put in the effort to respond to complaints posted with the BBB but a BBB rating is determined mostly by simply responding to complaints, and not necessarily by resolving them to the customers' satisfaction.

FYI - over 400 of his students had sued him for deceptive practices, though the court dismissed the case in 2018 claiming the plaintiffs did not provide "sufficient" facts. It is still worth noting, however, that 422 of his students believed so strongly that they had been deceived that they spent over 2 years fighting him in court.

Aside from that, most of the complaints both online and at the BBB revolve around not honoring their refund policy (he only allows 3 days) and/or not providing the services paid for or expected. As we all know, a some complaints can be attributed to "sour grapes". However, when the number of unsatisfied customers is substantial as is the case with Armando Montelongo Seminars, then you know there is a real problem.

A Low Cost, More Effective Choice

If you want to learn all 22 different methods of investing decribed here, and you think you would like access to a free coach who has at least 20 years field experience in real estate investing, and if you want to save a ton of money, then check out the course that beats them all, combined. With an "A" rating at the Better Business Bureau, and offered by a non-profit to keep it affordable, "The Simple Man's Guide to Real Estate" is the most comprehensive and effective of all the courses available today. It doesn't cost anything to look...

Review of Than Merrill Fortunebuilders

 

Than Merrill, one of the previous stars of A&E's hit show "Flip This House" and former football pro is one of the top additions to the growing list of real estate investing gurus with his Fortune Builders course. From flipping footballs to flipping houses - neat! But can he really teach a person to become a successful real estate investor, or is it just a scam. Read on, then decide for yourself (though we will add our opinion).

scam Slang n. "A deception practiced in order to secure unfair or unlawful gain. Any act, expression, omission, or concealment that deceives another to his or her disadvantage"

That is an accurate definition of a scam. The question is: does it apply to Than Merrill or FortuneBuilders? Than's program is among the most expensive. Here are a few facts, and how he stacks up against the least expensive that is both effective and low cost so you can compare "apples to apples". Take a close look...

THE SHORT TAKE

Frankly, this review is not really about Than Merrill - we believe he is an honest, upright man who has "franchised out" his FortuneBuilders real estate course. When we mention Than Merrill, we are actually referencing FortuneBuilders. And it is the crews that run what some call the Fortune Builders scam - that's where we have serious issues. This FortuneBuilders review will hopefully allow you to determine for yourself if it truly is a scam, or just unhappy customers complaining.

Than Merrill's FortuneBuilders gets your attention by offering a "free" seminar. If you make the mistake of believing you can become an expert by attending one of Mr. Merrill's weekend seminars, or even his second step (boot camp) costing up to $1500 you will be disappointed. To get a comprehensive education in real estate investment from Than Merrill, his FortuneBuilders Mastery program is what you will need to sign up for. But that will cost you - big time! Upwards of $35,000. Compare that to the lowest cost program, "The Simple Man's Guide to Real Estate" which includes unlimited mentoring by actual investors at a total cost of under $100 and teaches all 22 legitimate methods of real estate investing, providing virtually unlimited opportunities for profit. (FYI: the cost is so low because they operate as a not-for profit and the mentors are professional investors who volunteer their services).

Of the 22 tried and true legitimate methods of real estate investing, Than Merrill and his FortuneBuilders primarily teach only a couple - rehabbing and flipping foreclosures, which has very limited applications, and also requires availability of cash and good credit - two things that most people looking for financial security do not have. Having only one or two methods of investing is not a good plan - markets and economies change. A method that works well in one market type may be a complete bust when the market changes. Compare that to "The Simple Man's Guide to Real Estate", which teaches all 22 methods, in clear detail, 8 of which do not require cash or credit from the student/investor. No matter what the current economic conditions, there are strategies that will make you money. A successful investor starts with a well stocked toolbox which simply is not what FortuneBuilders provides.

Like most "gurus" Than Merrill uses high-pressure sales gimmicks like infomercials and seminars and pay-per-click Google Ads to hawk his program. The fact that Than has to keep doing infomercials would indicate that his program is not effective enough to create substantial word-of-mouth recommendations and the bulk of his students are not successful enough to result in enough referrals. The comparison program, in this case "The Simple Man's Guide to Real Estate" does not use, or need, such gimmicks. Most of their students come from word-of-mouth referrals by current students.

If you wish to check out the other features of "The Simple Man's Guide to Real Estate" so you can compare oranges to oranges you may do so here.

As a side note, Than's FortuneBuilders ran afoul of the Better business Bureau until he agreed to clean up the misleading hype to reflect something more in tune with reality.

COACHING

Like most real estate gurus, Than Merrill and his FortuneBuilders offer coaching if you join the FortuneBuilders Mastery program at upwards of $35,000. The exorbitant cost of his program can be directly attributed to the cost of the mentors, the costs associated with running infomercials and radio ads, and hosting the "free" seminars. In comparison, "The Simple Man's Guide to Real Estate" has none of those costs - their qualified mentors are volunteers, and they don't run infomercials, advertise on radio or host seminars designed to upsell - they start right out with the training, not with salesmen trying to upsell you to the next level. And because their mentors - professional investors - are volunteers, the mentoring is free, keeping the entire cost to under $100. (find out why their mentoring is free)

As of this writing, the real issue - and it's a big issue - we have with Than Merrill and FortuneBuilders is the "medicine show" seminar structure designed to upsell the audience to much more expensive add-ons, and the exhorbitant cost that is so typical of most gurus. As so aptly stated by FORBES magazine, seminars are for selling, not teaching. Than Merrill and his Fortune Builders entices folks with a "free" seminar, and then will slap them for $1500 for the "follow up" seminar, and upwards of $35,000 or more for the full program. No training in real estate investing is worthy of the prices most of these gurus charge - thousands, and tens of thousands of dollars. Real estate investing is not rocket science - average folks have been doing it successfully for centuries. It does not require a college level education, so it should not cost as if it were. When gurus such as Than Merrill or Armando Montelongo charge anywhere from $5000-$60,000, they are billing their students for the humongous costs incurred for traveling the country, promoting and hosting expensive seminars, and paying for their infomercials and pay-per-click ads. Frankly, if a person has upwards of $35,000 to invest, they likely do not need Than Merrill!

COMMENTS

Most people would expect Than Merrill, himself, to be present at his seminars, considering how much they are paying him. And most people would be wrong. People who have attended his seminars report to the BBB that Mr. Merrill does not even show up at them, instead having high-pressure sales persons handle the seminars, since they are sales pros adept at separating people from their money. Here's the "why" - Than Merrill created FortuneBuilders to be a franchise. Expert salesmen run the seminars and programs. The odds of seeing Than Merrill at one of his seminars is as slim as meeting Colonel Sanders at your local KFC (assuming he were still alive). Frankly, we suspect you would make more money buying into his FortuneBuilders franchise and selling his program than you would make from using it

OK, so the question we started with - whether or not Than Merrill aka FortuneBuilders is a scam...

You can decide that for yourself, but the way we see it, it is not a true scam and does not really fit the definition, but the effect is nearly the same. But our issue is that it is far too expensive for what you get, and for the slim odds that Than can make you wealthy.

A Low Cost, More Effective Choice

If you want to learn all 22 methods of real estate investing , and you think you would like access to a free coach who has at least 20 years field experience in real estate investing, personal one-on-one calls with the author, and if you want to save a ton of money over what Than Merrill would charge, then check out the course that beats them all, combined. With an "A" rating at the Better Business Bureau, and offered by a non-profit to keep it affordable (under $100), "The Simple Man's Guide to Real Estate" by Bill Vaughn is the most comprehensive and effective of all the courses available today.

It's lot like fixing your car - when it starts to act up, and your mechanic says it could be a $5.00 part, or maybe a $5000 new engine, which would you have him try first?

It doesn't cost anything to look...