John Beck's Free & Clear system

[RaistlinZ]

Have any of you seen the infomercials about people buying homes that were foreclosed on by just paying the outstanding back taxes on them? The infomercials say you can buy homes for like $150.00 free and clear, but I know there has to be a catch somewhere. These people usually make their money by selling books and cd's on how to make money, heh.

Anyone have any expeience buying properties in this manner? It seems like there's a hidden catch that they won't talk about on t.v.

 

[EagleKeeper]

Disclaimer similar to the wieght loss products.

"Results are not typical"

 

[rivan]

If you have to ask...

 

[Engraver]

Take out a loan on it with no down payment and a super high interest rate? If you can manage to resell it for more money before the interest piles up, you might make a profit, but that more than likely won't happen.

 

[sao123]

Originally posted by: RaistlinZ
Have any of you seen the infomercials about people buying homes that were foreclosed on by just paying the outstanding back taxes on them? The infomercials say you can buy homes for like $150.00 free and clear, but I know there has to be a catch somewhere. These people usually make their money by selling books and cd's on how to make money, heh.

Anyone have any expeience buying properties in this manner? It seems like there's a hidden catch that they won't talk about on t.v.

they dont tell you about the p1ssed off people who come burn your house down because you bought their house and evicted them over $150.00...

 

[Nitemare]

95% of infomercials on TV are scams

 

[RiverDog]

Originally posted by: Nitemare
95% of infomercials on TV are scams

And the other 5% are just stupid!

 

[reeserock]

I'll check it out as soon as I finish signing up at CrazyFox.com

 

[sandorski]

Even if it's not a Scam, trying these types of Real Estate shenanigans at this point is really stupid. These types of "systems" almost always rely on flipping a property as fast as possible.

edit: That said, $150 eh? Sounds like a non-Payment of Tax situation? If so, you might be able to acquire Property for that mount, somewhere. I'd think it would be rather rare though. At least 10x would be more easier to find and mainly in small towns in the middle of nowhere. Have to be careful though, many of those Properties might have obligations attached, like time limits paced on them for development(you being obligated to Develop the Property within X Years). Of course that usually only applies to empty Lots.

Disclaimer: I'm not in the Real Estate business in any way. The above I just picked up through reading, tv, and conversation with others.