Anthony Minnuto?

[knome]

Clearly, you are convinced these techniques will work for you, mate. I hope they do, and I wish you luck.One quickie though, you havent disclosed anything on your deal like:

Price vs Market price
Location
Units
Cap Rate
NOI
GOI
Leverage details
Ownership details (Land Trust? Etc)


The odds, though, just aren't with you. No Money Down ploys are incredibly risky, and often with catastrophic results. You don't hear about those being advertised though.

Is it possible to make money with a No Money Down deal? Sure!! I mean talk about return on investment.. and it is easy enough to get financing for 100% of a property.

Let me quote Robert Griswold, MSBA.. active property investor for many years:

"Although (I) do believe it's possible to find a buyer who is so motivated that she'll actually pay you to take a property off her hands, the reality is that the vast majority of such properties don't prove to be very profitable for you in the long run. Ask yourself -- why would anyone give away a property unless it has some really serious problems?"

and

"Unfortunately, the infomercials and the real estate gurus have oversold the concept of no money down. Of course this is the best way to achieve incredible rates of return -- earning a return without an investment! But the vast majority of properties you can aquire with no money down are properties that you can't afford to own any more than the seller can."

So, why on earth would I pay $5k to learn about an investment technique that is riskier than Vegas? And why should anyone else when you can get the fundamentals for $30 to $60 in a few books, written by pros that tell you like it is and don't fill their books with fluff in the hopes that you'll go to their seminars?

Thats why I say, AM is a ripoff. Because the whole legitimate industry says he (well, folks like him)  is. They say no money down is overinflated pablum designed to part you from your money in seminar fees and books.

In an early post in this thread you said I must have an agenda. I do. I want folks to see both sides of this coin and be able to make a truly informed decision. Thats all it's about.

FYI I am very aware of how commercial properties differ from residential values, in that PRICE = NOI / R . What Im not aware of is how you can manage an apt bldg with no money in the bank to cover costs, maintenance, and transitional costs. Unless you just dont pay them.

[Dmillin]

Did you ever go to Scotts Scheels seminar or Dave Lindahls seminar?  Have you ever been to any seminar?   How about you tell about your success in this business.  since you against seminars, how  do you learn and how has that form of education resulted in your success?

[knome]

Have you been reading my replies friend?

I'm quoting people whose life's work has been Real Estate, and whom don't go out and charge thousands of dollars to tell people how to lose their money in risky negative leverage schemes. Look above. I even mention one by name.

So far, I have invested in a number of asset types, including Real Estate, however through REITs. I decided to become a landlord early this year and I've been networking and learning for 6 months now. No, I do not yet own Apartment Buildings.

Thats it. Now, if you're going to say "You dont own apt bldgs so you dont have any business talking about this" well I suppose then no history professor whom ever lived should talk about things they never actually saw either.

Point being, I'm not here to prove you wrong. I'm not trying to make anyone look bad. I am trying to present another viewpoint, one shared by the VAST MAJORITY of Real Estate professionals. One untainted by postive thoughtspeak and ridiculous claims. One that doesn't cost thousands of dollars to find out you were misled.

In the end, it is just my opinion, and the opinion of a few people who are millionaires in this business, one of which I named by name and whom you can check out. He helped write "Real Estate for Dummies" along with Eric Tyson, MBA

Here are a few references: http://money.cnn.com/magazines/moneymag/moneymag_archive/2005/06/01/8260929/index.htm

http://www.floridahomeloan.com/2006/05/dont-flip-out-and-quit-your-day-job.html

http://ezinearticles.com/?Building-Wealth:-Dont-Waste-Your-Money-on-Real-Estate-Investment-Schemes&id=83781

Now this whole business with Apartment buildings is a great angle. You can say "Apartment buildings are a whole different market.. those old rules dont apply!". Except they do, and more so.

So, save you money please folks. Read up. Dont be in such a hurry, or the only person who will profit on your quick action will be some guru who has bought his home with 25% down on a fixed interest 30 year mortgage from NYMC. If you really want to be successful in foreclosures, REO, and other risky markets, real investors have said that you should get into Real Estate small time first. Be a Landlord for awhile. Then you can graduate, after you have proved your mettle and folks take you more seriously.